Registration Reform Expects The Starting Time Of The Starting Gun.

The market expects the "two sessions" to start the registration system reform. It is hoped that the regulatory pformation can not just be put on the lips, but should be carried out in a concrete way to crack down on the specific actions of false disclosure of fraudulent listing and market manipulation of insider trading, so that the purpose of safeguarding the interests of investors will be meticulously implemented.

Registration system reform looks forward to starting the gun.

This is the expectation of the market for the upcoming national "two sessions".

In December 27th last year, the Standing Committee of the National People's Congress voted on the decision of the State Council to adjust the relevant provisions of the "People's Republic of China Securities Law" in the implementation of the stock issuance registration system reform, which should be implemented in March 1st this year.

According to the decision, the specific implementation plan for implementing the registration system shall be formulated by the State Council and reported to the Standing Committee of the National People's Congress for the record.

However, the time has passed two months, and the relevant supporting documents issued by the SFC will not be seen until Xiaogang left the post of chairman of the SFC, let alone consult the market first.

As soon as the decision of the Standing Committee of the National People's Congress was issued just last year, the big British securities Li Xiao Xiao asserted: "the starting time for the NPC Standing Committee to authorize the registration system is March 1st, but it is not necessarily the implementation time."

Things or misfortunes were spoken by Li Daxiao.

It is not surprising that Li said that the securities and Futures Commission has so far failed to come up with supporting documents for carrying out the registration system reform, nor has it pferred the right to examine the issue of new shares to the exchanges. Instead, it has intensified its administrative control over the issue of new shares.

Not only is the quantity and rhythm of new shares issued every month still controlled by the SFC, but the new one is still being audited by the trial committee and approved by the SFC. The IPO price is still regulated at about 40 times the price earnings ratio.

Instead of stabilizing the market and stabilizing the issue of new shares, this practice is to maintain the market position of new shares as the scarce market resources artificially, maintain the power of administrative power to the allocation of market resources, and maintain the interest pmission mechanism and interest exchange mechanism for the first time in the near future through the extreme expansion of the value bubble.

In the first trading week when the SFC changed hands, the market suffered another heavy blow from thousands of shares.

Some have attributed the cause to the registration system that should have been launched in March 1st.

This statement is also inconsistent with the facts.

In fact, it is not easy to see the shadow of the start of registration reform in March 1st now, but just because of a slight relaxation of the securities lending limit, it is unmindful of the fact that leveraging is short.

Catastrophe.

In order to solve the problem of the Chinese stock market, we can never get a headache. Only from the top level, we can see the new meteorology of the new market with a big operation on the basic system and operating mechanism of the market.

That is to say, the fundamental way out for China's stock market is reform, and registration system reform is the only correct direction for China's stock market to go out of difficulties and become bright.

If the market does not wait to wait for the securities and Futures Commission to stop and the administrative system to interfere with the registration system reform, the increasingly fierce interest pfer and interest exchange can not wait for the "two sessions" registration system reform starting gun.

The market expects the "two sessions" to start the registration system reform, that is, it is expected that the market can really play a decisive role in the allocation of market resources, and can no longer allow the administrative power to continue to play the role of maintaining stability.

Market expects "two sessions" to start

The reform is the tendency of China's stock market to bid farewell to the accumulated difficulties and to establish a new market order that can fully meet the reasonable financing needs and effectively return the investors' market order.

The market expects the "two sessions" to start the registration system reform. It is also hoped that the regulatory pformation can not just be put on the lips, but should be put on the concrete actions to crack down on false disclosure of fraudulent listing and market manipulation of insider trading.

The most important aim of interests is meticulous implementation.

In terms of the current situation of China's stock market, the registration system, which is more or less needed at the moment, is to establish a fair and fair trading platform, form an effective market pricing mechanism, and effectively protect the interests of disadvantaged investors.

Only by starting from these most important basic systems and carrying out effective and effective reforms to restore investor confidence gradually, can China's stock market get out of its current predicament and create and provide essential basic conditions and prerequisites for registration reform.

This is consistent with the general direction of registration system reform, and it is not contradictory at all.

What the market expects is that the SFC's early implementation of the supporting documents for registration system reform should be taken up in my opinion.

However, this old mechanism of interest pfer and interest exchange is obviously different from the current intensified administrative intervention.