The Core Of Solving The B-Share Problem Is To Do Well In The Top-Level Design.

As the B-share market suddenly collapsed on Monday and dragged down A shares, the fact that the market has been marginalized has once again attracted the attention of investors.

This is not only because the disorderly market of B shares is extremely unfavorable to the stability of the securities market, but also has a negative impact on the mentality of all investors. The problem is that, as an integral part of China's capital market, the long-term stagnation of B shares also damages the image and is also a great damage to the credibility of the society.

To solve the B-share problem, the core is to do a good job in the top-level design and clarify its positioning so that we can solve it in a targeted way.

This is also the difficulty of the B-share issue. Therefore, the market is still responsible for the responsibility of history and the reality.

Otherwise, the problem will be delayed, and it will not only make the B-share investors disappointed, but also let people's knowledge of the future of the capital market be overshadowed.

More than 20 years ago, when B-share was opened, it shouldered the heavy responsibility for domestic enterprises to use overseas funds to carry out equity financing channels, and objectively played a very important role in this aspect.

However, as more domestic enterprises chose to issue shares in Hongkong and other countries later, the financing function of B shares began to shrink gradually, and then basically disappeared.

Although management has also made some reforms to B-shares, including opening to domestic investors, it does not seem to have achieved the expected goal.

Its pricing function has been further weakened.

Over the years, B shares have been lacking in proactive market and can only drift with the tide, and their existence value has been questioned by more and more people.

Indeed, after losing the most basic function of financing, there is still no need to retain the B-share market, which becomes a very real problem.

In other words, it is the need to reconsider the market position of B shares.

However, it is disappointing that since the decision to open B shares to domestic investors, the parties concerned have not issued any big policy on the development of B shares.

That is to say, under the new situation, B shares do not have a corresponding position.

And the lack of positioning naturally leads to the stagnation of market development and the accumulation of various contradictions, so that some listed Companies Issuing B-shares are organized to discuss countermeasures.

Because of the lack of top-level design, we feel that we have no confidence in doing well B shares and using B-share market development enterprises, so we have studied how to quit B-shares.

This also has the practice of converting B-shares into H shares a few years ago.

Objectively speaking, management is still relatively supportive. Therefore, even though the procedures are complex, several B-share Companies have turned B-shares into H-shares so far.

There are also pure B-share Listed Companies, with the help of asset restructuring and so on.

In general, it has achieved great success.

However, such cases are not too common, because a large number of Companies Issuing B-shares also issue A shares, which is obviously not easy for A share investors.

A lot of B shares should be converted to A shares, which is equivalent to the massive expansion of A shares.

Some people say that B shares can be referred to the A share reform mode, and the former can provide some compensation to solve the problem.

However, since B shares themselves are negotiable stocks, there is no legal basis for paying B shares to A shareholders.

Therefore, although it appears that B-share conversion to A shares is the most practical way to solve the B-share problem, it is actually very difficult to operate.

This is also the internal reason for the reform of B shares, which is in line with the conditions of B-share Companies listed on the stock exchange of Hongkong, to convert B shares into H shares, and after several B-share Companies repurchase B shares to issue A shares.

Because of this, the B-share trend is very weak and the liquidity is seriously lacking, so this kind of slump was deducted on Monday.