High-Level Release Positive Stock Market Signal Bullish Big Logic Clearer

The big logic of the bull market was confirmed in the two sessions of 2015. Reform and anti-corruption have become the hottest focus of the two sessions this year. It has also been written into the government work report and two high reports.

Premier Li Keqiang's government work report clearly pointed out that in 2015, we will strengthen the construction of multi-level capital market system and implement the stock issue registration system reform.

Pilot projects for overseas investment of individual investors will be launched and pilot projects for Shenzhen Hong Kong Tong will be launched in a timely manner.

In fact, as the top priority of this year's domestic capital market reform, the registration system reform plan is coming to maturity.

Xiao Gang, chairman of the securities and Futures Commission, made a clear statement during the two sessions. Now that the conditions for registration reform have been fulfilled, a preliminary plan has been formed, and the specific implementation plan is being worked out.

The registration system can be implemented from the date of the formal implementation of the new securities law.

A necessary timetable for promoting the registration system reform is also a clearer timetable for the two sessions.

Yin Zhongqing, vice chairman of the finance and Economic Commission of the NPC, said recently that the Standing Committee of the NPC will consider the draft amendment to the securities law in the late April. If it goes smoothly, it will be promulgated within three years after the second instance or the second instance.

Since the third Plenary Session of the 18th CPC Central Committee, when the new issue was written into the party's resolutions and written into the government work report today, why is the registration system so important? The answer to the question has begun to emerge: registration system is a revolution in the A share market, will terminate the privilege of IPO, end the myth of the unbeaten new shares, end the value of shell resources of the junk stocks, and end the era of "making investors a fool."

The industry generally believes that with the advance and implementation of registration system, the Chinese stock market will generate a real bull market in the next few years.

During the two sessions, the representatives of the two financial circles expressed their views on the hot topics in the securities market several times, and inadvertently revealed more policy directions.

In March 9th,

In an interview with the media, chairman Xiao Gang said that the bull market launched in July last year is a response to the anticipation of the reform and opening up bonus, and is the result of the superposition of various favorable policies, with its inevitability and rationality.

Xiao Gang mentioned in particular that all measures taken by the central government to comprehensively deepen reform have stabilized market expectations and are the main driving force for the rise of the stock market.

Confidence has increased significantly, reflecting investors' expectations of the dividend of reform and opening up.

The dividend reform will be the most powerful driving force for further healthy development of the capital market.

In this sense, he agrees with the idea of "reforming cattle".

On March 10th, at the press conference held at the three session of the twelve National People's Congress, Yin Wei Min, Minister of human resources and social affairs, said that the basic plan for the investment and operation of the endowment insurance fund has been formed. It is expected that the State Council will be invited to the State Council in the second half of the year, and the endowment insurance fund will invest some of its funds in the stock market.

In March 12th, for funds to enter

Central bank governor Zhou Xiaochuan said that so many industries and enterprises are financing in the stock market. Indeed, some financial market pactions may be divorced from the real economy, purely speculative speculation, but can not be generalized, and can not be considered that the money to the stock market is not to support the real economy.

He also said that some people think that (financial) self circulation in financial markets is divorced from the real economy, which is also inaccurate.

A large number of financial activities are in the allocation of resources, directly or indirectly for the real economy, and capital entering the stock market also supports the real economy.

During the two sessions, the Shanghai and Shenzhen Stock Exchange executives disclosed some policy ideas on the topic respectively.

Gui Minjie, chairman of the CPPCC National Committee and chairman of the Shanghai stock exchange, pointed out that at present, the listing index that simply used three consecutive years of profit has been unable to meet the current market demand and needs to make some changes.

Song Liping, general manager of the Shenzhen Stock Exchange, said that allowing unprofitable companies to go public is very clear, but not all unprofitable enterprises can be listed, but only the main business is the Internet. Some enterprises with real innovation ability and high R & D investment can be listed on the market without profit.

For the upcoming Shenzhen Hong Kong through mechanism, Song Liping made it clear for the first time that GEM stocks will also be included in the investment target.