Rapid fall of domestic stock market these days, both external and financial market shocks, and more its own internal reasons. A few days ago I was in a forum, a reporter asked me how the future trend of China's stock market? I told them The question now is not the Chinese stock market has no investment value, nor does it address how many of China's stock market index fell to hunters, but the Chinese government send a clear signal to the market, the Government will ensure sustained and healthy development of China's stock market, and to take corresponding policies to be guaranteed. If the Government can do so, then the dying of the stock market may be to restore market confidence.
reported by the State Council, Ministry of Finance decided to September 19, 2008, the stamp duty on securities trading policy adjustments imposed by the existing bilateral to unilateral imposition, the tax rate to keep 1p. Meanwhile, the company learned from the Central Huijin, to ensure that state workers, the construction of three lines and other key state-owned financial institutions, holding position in support of key state-owned financial stable operation and development institutions, and stability of state-owned commercial bank shares, Central Huijin independent company purchased in the secondary market workers, in construction of three lines of stock, and from now onwards the market operation. Also, the SASAC also expressed support for Central enterprises according to their own development needs of its holdings of listed companies holding shares in listed companies to support the central holding company buy back shares.
for the first message, even though the unilateral imposition of stamp duty on securities investors can reduce their transaction process the costs, but transaction costs and equity securities losses than wins, then that would drop in the bucket, as long as the stock can be profitable, investors, transaction costs on this point is not too seriously. Therefore, the introduction of this policy, more is to market to send a strong signal that the government is taking strong measures to ensure the steady and healthy development of the stock market. The unilateral introduction of stamp duty levied on policy only one aspect of these policies.
example, according to their own development Huijin need overweight ICBC, China Construction Bank, Bank of China and other stocks, the central enterprises repurchase shares of Holding Companies. If the major shareholders of listed companies buy back stock, boost investor confidence that it is very beneficial. because As a listed company's controlling shareholder, with other shareholders of listed companies in a variety of information in an absolutely dominant position. If the controlling shareholder and optimistic about the repurchase of stock, it seems to herald major shareholder of the company future development. In this case, other shareholders may consider the future development of the listed company will be better, making the market more confident on the company, the company's stock holdings.
can be said that the government issued to give the stock market clear message, only these are not enough. have taken a series of existing policy of the stock market. For example, you can also make the China Investment Corporation and the National Social Security Fund into the domestic stock market. because, in times of global financial upheaval, although the Many foreign financial institutions, rapid decline in the share price, the value of their investment may be good, but before the international financial market is not stable, no matter how good these organizations or in the domestic inaction, wait, little action as well. But for the domestic stock market it is definitely a good investment opportunity. because some of the domestic stock market blue chips, is not only the shares of these large institutions are more familiar with, and these stocks do have some investment value. So these big institutional investors to enter the domestic stock market to purchase the play will have a significant role in boosting confidence.
to strengthen the sustainable and stable development to ensure that the stock market signals, the government still has a lot of things to do. For example, the establishment of stabilization fund; launch margin trading system; to the size of non-lifting of the ban is more fair and transparent; the iron fist approach to the stock market abuses, especially for any insider trading on the stock market had severely punished, and severely deal with without mercy; to be listed on some spam comprehensive rectification and ultimately removed from the market; to improve the existing listing rules and pricing; up protection of small investors from the fundamental interests. If the Government can further introduce appropriate policies to ensure sustained and stable development of the stock market, confidence in the domestic stock market will then re-established, a new Chinese stock market will boom.
In short, the government to unilaterally impose stamp duty on securities transactions, SAFE approach is a clear signal to the market place, the Government will a series of policies to ensure sustained and stable development of domestic stock market. and I believe that this clear signal the government will put the appropriate policies to strengthen. If so, China's stock market will be able to re-emerge from the current predicament. (article was written in 9 month at 8:00 p.m. on the 18th)
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