Registration System Has To Be Issued At The Same Time.

It's coming sooner or later.

For example, registration system.

Of course, the news is still informal. Last weekend, the investment community's website and micro-blog issued a heavy message that the chairman of the SFC said that in March, the chairman of the SFC said that he would strive for results in the reform process of registration system. The premise of the registration system was the amendment of the securities law. However, after the stock market crash, the revision of the securities law was postponed. It may be dealt with by the law authorized by the State Council. In principle, the release rhythm should be released first, and the price of the issue will be released. The issuance period will be 3-6 months to give the enterprise a clear expectation.

The investment sector is not a news media, nor does it have such a great news. To grant authorization Therefore, the second day is not actually the night of the day. The investment community has deleted the news from the website. The reason is naturally not explained, but other media follow suit as usual.

The SFC did not refute rumours.

In fact, there is nothing to be done.

As early as the two sessions of March this year, the Li Keqiang government's work report clearly pointed out that the registration system should be implemented in 2015. It is over the end of the year. The registration system will surely be wasted this year. It will be a very realistic thing to explain Li Keqiang how to represent the committee next year. Xiao Gang pointed out that the result is clear before March.

In the long run, it will surely be beneficial to the system construction, and the short term will be bad for the market. After all, supply and demand will be reversed.

Optimistic, like Ren Zeping, the registration system will start the third wave of bull market. After that, A shares will no longer be eight thousand points but tens of thousands of points; pessimistic will not speak or refuse to speak, afraid to be brick.

The current market is stronger than many people expected. Therefore, the ban on the sale of brokers has been cancelled. The movement of the certificate company has also appeared. IPO has also resumed. The registration system can also be openly discussed.

Shui Po noticed that the rules for restoring the IPO before it had the meaning of linking up with the registration system. The new three board transfer board which was released not long ago was a direct path to the registration system. The new three boards were the registration system, and Yao Gang, who was in charge of the issue for 13 years, sacked the management barriers for the promotion of registration system.

Everything is as it should be.

There are too many elaboration on the advantages of registration system. There are eight points in brief.

One is to turn to the currency age. equity It is an indisputable fact that excess M2 is coming out. Excess liquidity is also an indisputable fact. The fact that residents do not have investment channels is also an indisputable fact. The implementation of registration system can attract excess liquidity through the capital market to the real economy, serve the entity, serve the public and create innovative services for all.

Two, we can greatly reduce the small and medium-sized boards caused by the shortage of new stocks. Gem The valuation bubble reduces the risk.

The three is to reduce the risk of indirect financing, which concentrates on the risk of banks and the financing scale of the whole society.

The four is to solve the financing difficulties of SMEs in China.

The five is to solve the problem of management rent auditing.

Six, we should push forward the construction of the delisting system and eliminate the speculation of shell resources.

Seven, we can promote the implementation of strict law and law investors protection. In the past, the auditing system was actually endorsed by the management for listed companies, and it was impossible to investigate and deal with problems because it was impossible to deny itself.

The eight is to integrate with the mature international market.

Is registration system good or bad?

Public opinions are divergent.

The market is balanced. It is very important to avoid big ups and falls. The long and short constraint mechanism is very important. After the stock index futures, the market adjustment is now limited to the supply of new shares. Otherwise, it is difficult to avoid inflation when the amount of financing is rising. The result is that it is difficult to avoid a sharp fall. The recent actions of the SFC should have released a clear signal.