Why Does The Policy Of Helping The Poor In The Stock Market Cause Controversy In The Capital Market?

The SFC issued a public opinion on the China Securities Regulatory Commission's role in giving full play to the role of the capital market in serving the country's strategy of tackling poverty by tackling poverty. Undoubtedly, the capital market has rippled in circles. Sina has also organized a special layout to bring all kinds of voices together.

The system of the opinion itself is not complicated. According to the SFC, it is an important measure for the SFC to implement the decision of the Central Committee of the Communist Party of China, the decision of the State Council on winning the battle against poverty, (China No. 2015] 34 and the spirit of the central poverty alleviation and development conference.

But why is there a strong controversy in the capital market?

The SFC must eliminate the market's concerns about the policy and establish mutual trust between the market players and regulators instead of mutual suspicion. First of all, we should say what we want to do, abandon the stock market tool thinking mode, do not always publish the capital market to support who will point out who's point of view, let the market be full of anxiety and magnify the bad profits. Secondly, the current approval system is not the registration system, which should not fluctuate too much to the listing rhythm and financing scale, and can not be changed by multiple times.

The author believes that behind the dispute is a distrust of the power of the SFC, especially the IPO investors are always highly skeptical.

Because the IPO can be listed, how is the listing rhythm?

Geometry, all control in the hands of the Securities Regulatory Commission, and extremely opaque, very opaque, not in accordance with the stock index point, the point is lower than the stock index point, and the stock index is still down in the whole year, and the stock market is still down in the whole year, and the fall is in the top of the world, and there is little consideration of the voice and interest of the investors. For a long time, Chinese investors have seven losses of two flat profits, but the market value of the stock market is first class in the world, the first half of the first half of the first half of the year has been kept in 3-4, 6-8 has become normal, the first week after the Mid Autumn Festival, 9 new shares are arranged in the first week of the Mid Autumn Festival, of which there is also a large stock of Hangzhou bank.

There are many reasons for raising the pace of new shares in China, such as the fact that the real economy is sluggish and the risk of bank financing is also an important basis for increasing the issuance of new shares, because the capital market bears the heavy responsibility of supporting the real economy, undertaking the heavy responsibility of overcoming the indirect financing risks, bearing the heavy responsibility of deleveraging, and the stock market bubble. It is also an important basis for increasing the issuance of new shares, because increasing supply can pierce the bubble, curb excessive speculation, and fail repeatedly, private investment falls, and the stock market rises, which is also an important basis for increasing the issuance of new shares.

Regional development is not balanced now, and poverty alleviation is also an important basis for increasing the issuance of new shares. Because there are few listed companies in poor areas, enterprises or persons who have been registered for production and operation for three years and pay income tax for three years are all in the poor areas with registered places and major production and operation areas.

Where the income tax is not less than 20 million yuan in the poverty-stricken areas and in the poverty-stricken areas in the most recent year, and the enterprise that does not change the place of registration within three years after the listing, the application of the policy of "reporting immediately after trial" is applicable to those who apply for initial public offering and listing.

According to the statistics of market participants, as of the end of 2016 8, there were 743 listed companies in the queue, 855 of them were registered for registration, and only 6 were in the poverty-stricken areas. From the row to the company, the 6 poor regional Corporation were all listed, and the impact on the market was small.

The opinion also stressed that the auditing matters of enterprises in poor areas should adhere to the principle of "three principles", adhere to standards and not reduce conditions, so as to ensure stable and healthy development of the market.

The problem is that investors ignore the CSRC's commitments or believe that the SFC's listing standards are changing. The performance of the SFC listing standards is also changing. The performance of listed companies has changed too much, or the index has dropped more or the market has questioned more. The rate of listing auditing has also increased, and the financial verification has also been stricter. For a long time, the SFC has firmly controlled the listing of the stock market. In the mind of the market, the SFC has controlled the right of killing and controlling the listed companies, so that anyone can get the above qualitative thinking. Therefore, the market is always worried that under the green channel, the auditing standards are going down on the market, resulting in some or more companies meeting the listing requirements, and financing in the capital market, thereby damaging the interests of investors.

Therefore, the focus of the market controversy is the implementation of the green channel for the poor regional Corporation listing, that is, the "green paper", which will lead some poor areas to take priority in listing through the green channel and let hundreds of millions of investors pay the bill.

Moreover, under this green channel, will it trigger some companies that need to be listed to buy a shell resource company in poor areas? It is also a big worry for the market to realize the rapid listing through the green channel. In China, some capital players are always deceive the eyes, playing dead market investors, playing dead listed companies, and capital gamers' capital playing and capital poverty alleviation are two different things.