We Must Control The Level Of Financial Leverage And Prevent Bubbles From Happening.

In May 23rd, vice president Wang Zhaoxing, who attended Tsinghua Wudaokou global financial forum, said that the financial leverage of the modern economy is very promising. The financial leverage must be moderately used to keep away from the crisis. The most difficult thing is whether the macroeconomic regulator or financial regulator should grasp the lever of financial leverage.

It is pointed out that the function of financial leverage can not be denied. If finance is the core of modern economy, financial leverage is the great driving force of the modern economy. Financial leverage has huge functions, but it is a double-edged sword. The important reason for this financial crisis is highly leveraged. At present, it is carrying out the process of "deleveraging", the shrinking of banks' lending ability, and the depression of the economy, which makes the economy fall into recession, the recovery is slow, and the role of financial leverage is unlimited, but it can not be deified.

He said that after the current financial crisis, we need to raise capital.

To enhance the ability of the financial system to resist risks and crises.

We must strengthen macro prudential supervision and establish a counter cyclical macroeconomic regulation and control system, from macro and micro penalties, effectively control the level of financial leverage, control the lever level of Finance and banks, prevent the formation of financial bubbles and the occurrence of financial crisis.

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With the advent of the aging population, the preservation and appreciation of the pension has reached an urgent task.

Reporters learned from a number of people familiar with the matter, the basic pension fund investment and operation reform program has been formulated, approved by the State Council, released in the first half of the year, which is likely to be released in the three quarter.

Where the pension is most attractive is undoubtedly the stock market.

Especially in the current stock market is very enthusiastic, investing in the stock market for pension is a topic of great concern to the majority of investors.

The relevant media and experts also believe that, in accordance with the requirements of stock investment of not more than 30%, at present, our country has 3 trillion and 500 billion basic pension insurance funds, then there will be trillions of funds into the stock market.

Obviously, this is too optimistic calculation method.

After the introduction of the reform program, the stock market is definitely a very important investment channel for pension.

But don't be too optimistic. Don't take pensions into the market as an opportunity to make money.

Even if we invest in the stock market, we will never pursue the short-term interests and immediate interests like the general investors, but will invest in the long term and invest in value.

On the one hand, in the initial stage, the pace of investment will not be too great, and the investment funds will never reach the so-called trillions. On the other hand, the investment time will not be very short.

Under such circumstances, the vast majority of investors can not keep pace with pension investments.

Therefore, the impact of pension investment on the stock market is also very limited, and there will be no reform plan, there will be a large number of capital flows to the stock market phenomenon.

It should be noted that once the pension investment reform program is introduced, some institutions and individuals who are keen to hype may use this concept to carry out hype, which will arouse the enthusiasm of ordinary investors.

Therefore, for ordinary investors, we must not follow suit after the introduction of the pension investment reform plan.

Even if the pension investment reform program has been promulgated, the goal of investing in the stock market has been determined. It will take a certain time to really invest, such as what kind of investment institution to choose, where to allow pensions to invest, and how to operate the institution.

In fact, the stock market is only an option for pension investments.

From the perspective of pension security, more funds may still be invested in infrastructure, key projects and financial products without risks.

For shareholders, it is necessary to establish a value investment concept in line with the principles of stock market risk and prudent investment.

Even if we want to keep pace with the pace of pension investment reform, we can only focus on value investing rather than short-term investment and follow suit.

The impact of pension investment reform on the stock market is long, mild and slow, rather than stormy.

Investors who want to get huge profits must not play the abacus of pension investment reform.

This abacus is an iron abacus, not so good.

Otherwise, it is hard to say that it will not bring losses to investors.