129756442791562500_39Hexun homepage established mobile phone version of the stock/fund micro-blogging news blog roll daily observation of economic observations on the unit on social write rapidly current politics comment on literature and history on the gold boutique hot discussion on finance and financial peopleColumn of interviews you said that a global observation of weekly hexun.com comments > body font size print RSS March 07, 2012 source: economic information daily author: Dong Shaopeng 5th, the premier GovernmentPointed out in the report, "sound system perfect the IPO and withdrawal system, strengthen the return and protect the rights and interests of investors," "active development of bond market". Although only 35 words talking about capital markets, its accusing finger hurts, as a new round of capital market reforms have set the tone.
Compared to the previous year, institution-building and investor interest is placed in a more prominent position. The end of last yearSince the IPO system reform is being pushed on the unprecedented height, this is because: a new share issue price is directly related to the capital market based pricing mechanism
world of tanks power leveling, and often is a sign of fairness in the market pricing mechanism; the second obvious flaw IPO pricing system in China, although the share-trading reform has been completed, but the "local currency" feature does not reverse, new sharesPricing does not properly reflect company fundamentals; three "fried new blind" and "premeditated fried new" phenomena are intertwined, resulting in secondary markets valued chaos and affect investor confidence in the long-term investment, and some illegal activities of hybrid. It can be said that new stock issue has become essentially the reform and reform of enterprise reform distribution investment in reforming the financial reform is closely associated with each other, such as core subjects。
New share issue price to achieve fair and equitable means, enhanced self-regulation mechanism of listed company, fair distribution of social wealth increased, investment industry of industrialization have been implemented, enhanced self-regulation mechanisms of financial institutions, the efficiency and effectiveness of financial markets are showing. Solve the pricing of capital markets, to the "listing" and "delisting" be considered, "Sound", and "perfect". Without an effective system of delisting, poor long-term "excuse" on the market and from new ills cannot be eliminated, in other words, fried record poor corporate restructuring are actually fried a new variant. Government report with "sound" and "perfect" wording on the flaws of the current system of listing and delisting endorsement, strikes at the heart. Against the"Investors return" and "rights protection", using the "enhanced". Bring two words together
wot power leveling, you can view, system construction is placed top of the deepening reform of capital market development. Only adjustment system in place, "strengthen the return and protect the rights and interests of investors" to implement; if the system has a lot of defects, simple talk about return on investment protection and rights,Less effective. It should be said that since 2009 new stock issue reform has also made his mark, progressive market constraints. But measures not enough, problem of inadequate market discipline mechanisms, is still very prominent. Current IPO system framework is complete, and the subsequent lack of inquiry revealed the risk constraint zhuicheng, means some abuse inquiryNot responsible, some conspiracy to push up the price. At the same time, release have been unable to take to the front of the stock.
These will need to be changed. Speeding up the development of the debt market have already been made for many years, but progress was not fast
wot power leveling, needs to take further positive steps. If the bond market and grow up, and achieve a unified interconnected, you will significantly improve the valuation capacity of the capital markets as a whole, on boot stocks pricingSystems to robust play an important role. The most recent period, Chairman of the SFC, Guo Shuqing, as well as the various regulatory levels again and blue-chip issues such as appropriateness value investors in IPO pricing system is illustrated, very straightforward to tell the public market shortcomings of our existing system, which is very rare. Only dare to self-Anatomy, can really solve the problem. Believe that after theEfforts to a fairer and more honest in the IPO market will come!
