Xie Baisan sent a letter to Liu Shiyu should announce registration system indefinitely postponed-驯龙高手dm456

Xie Baisan sent a letter to Liu Shiyu: the registration system should be announced to postpone indefinitely sina finance Level2:A shares of sina finance: App speed Kanpan live on-line bloggers to tutor China cherish the stock market, the enormous loss of care 140 million investors scarred!   – the new president Liu Shiyu of the Fudan University professor and director of an open letter to the financial and Capital Market Research Center Xie Baisan Chairman Liu: the central government announced the president of Shaw moved to you after a day, the stock market rose; reflects the great expectations of investors on the 140 million you have. But the next day that began to fall, and today fell again, to reproduce thousand shares limit. In this regard, I would like to write some opinions and suggestions. First, China’s stock market is different from the developed countries (developed markets). It is a 27 year old youth stock market with serious institutional defects. It has ten characteristics: 1. China’s stock market has not been a barometer of the real macro-economy for quite a long time. Since 1978, GDP has increased by 128 times, the stock market in 1993 to 1500 points, 2001 to 2245 points, now only 2700 points; 2 times less than. More than 30 years, many people engaged in industrial development, and the overall shareholders in the "hold up" big prison, poor ah! 2, China’s stock market has a large proportion of state-owned enterprises with public ownership and state-owned components; while the western stock market is dominated by private enterprises, and even more than 90% of them are private enterprises. No reform of state-owned enterprises, unclear property rights, responsibilities, rights and benefits of phase separation, the equivalent of the people’s commune, mess. Its benefits, rewards, and performance are quite different from those of Western listed companies. 3, most of China’s listed companies are inefficient, many are unwilling to pay dividends, can not distinguish between red, and do not want to dividends. There is no long-term investment value. 4, there is no short selling mechanism in Chinese stock market. (stock index futures specific system is unable to operate, not conducive to short) because it is not short, or up to 140 million friends, investors all losses, is full of pain Che heart lung The imprint is engraved on my heart. pain. 5, the stock market has China institutional and historical defects, decades of non tradable shares, after the stock ownership reform, the original one yuan or a few hair of state shares and legal person shares have been listed as cash flow, year after year, month, day lake, to the market price in cash, long-term major bad. The old non tradable shares are gone, and the new ones are coming out. Make it impossible to guard against. 6, China’s stock market investment hunger serious. Whether state-owned enterprises, private enterprises, joint-stock company, have attached great importance to public financing, money, because do not industry, stock market, stock, a financial capital. 7, China’s stock market to retail investors, individual investors as more, foreign funds, institutional investors as more. 8, there is no market maker system in China stock market, and there are market makers and strategic investors in foreign nasdaq. Chinese stock market fluctuates greatly and the risk is great. 9, China’s stock market is affected by monetary policy and the housing market; tight monetary policy, the stock market can fall from 6124 points to 1664 points. The housing market is so depressed that it will affect steel, cement, glass, furniture, etc. 谢百三致信刘士余:应宣布注册制无限期推迟 新浪财经Level2:A股极速看盘 新浪财经App:直播上线 博主一对一指导   珍惜伤痕累累的中国股市、呵护亏损巨大的1.4亿股民! ——致新主席刘士余的一封公开信   复旦大学金融与资本市场研究中心主任 谢百三教授 刘主席:   中央宣布肖主席调走,你调来后,股市大涨了一天;反映了1.4亿股民对您抱有的巨大期望。   但次日即开始下跌,今天又大跌暴跌,重现千股跌停了。对此,我特写信提些看法与建议。   一、中国股市与世界各国(发达市场)都不同,是个有严重的制度性缺陷的受尽创伤的27年的青年股市。   它有十大特点:   1、中国股市在相当长的时间里不是实体宏观经济的晴雨表。1978年至今,GDP增长128倍,股市1993年就到过1500点,2001年就 到过2245点,现在仅2700点;2倍都不到。30多年中,搞实业的人很多发了,而股民总体上处于“套牢”大狱之中,可怜啊!   2、中国股市以公有制、国有成分为多的国企比例极大;而西方股市以私有企业为主,甚至90%以上为私企。没有改革好的国企,产权不清,责、权、利相分离,相当于人民公社,大锅饭。其效益,回报反映,表现也与西方上市企业迥然不同。   3、中国上市公司大多效益低下,不少是不肯分红,分不出红,也不想分红。没有长期投资价值。   4、中国股市基本上没有做空机制。(股指期货具体制度又无法操作,不利于做空)由于不能做空,跌起来就一网打尽,1.4亿股民就全亏损,全是痛,彻心彻肺地刻骨铭心地痛。   5、中国股市有制度性、历史性缺陷,几十年股权分置,在股权分置改革后,原来一元甚至几毛的国家股、法人股一直在源源上市兑现,如同堰塞湖,年年、月月、日日到市场上以市价兑现,形成长期重大利空。老的非流通股出完了,新的又出来了。使人们防不胜防。   6、中国股市投资饥渴症严重。无论国企、民企、股份制公司,均极重视上市融资、圈钱,因为实业怎么干,不如证券市场上增发、配股、融一把资。   7、中国股市以散户、个人投资者为多,国外以基金、机构投资者为多。   8、中国股市没有做市商制度,国外纳斯达克有做市商、战略投资者。中国股市波动极大,风险极大。   9、中国股市受货币政策与房市影响很大;货币政策紧,股市可以从6124点跌到1664点。房市太低迷,会影响钢铁、水泥、玻璃、家具、汽车等42产业萧条。房市一火爆,又会吸引走大批资金离开股市,转战房市;对股市形成分流效应。   10、中国股市牛短熊长。完全不能分享中国实体经济37年高增长(9-11%;现6.9%)的成果。85—90%股民总体长期处于亏损状态。股民伤痕累累,终年处于痛苦之中。中国股民是世界上最忍辱负重、最优秀的股民,痛苦之中贡献巨大,中国崛起有股民巨大功劳。   二、为此,特提出如下建议和看法:   1、对于“注册制”试点应宣布无限期推迟。“注册制”完全不符合中国国情,不能照搬照抄国外。试想,中国注册的公司、企业、经济实体7014万家,7千家中出一家,就可以上一万家新股(又都是冲着上市圈钱来的),中国股市岂不暴跌、狂跌,一泻千里!   这件事就像“熔断机制”一样,何时搞,股市就会何时大跌!而且极可能像熔断机制一样被迫很快停止。   2、请问“注册制”急急试点有何意义?一年上了几百家新股,大熊市中募资世界第一,还不够吗?前主席急急推进注册制,完全脱离中国国情,害人啊!   3、立即放慢、减缓、停止新股发行。   1998年克林顿参观上海证交所,美国证券界人士向总统汇报:中国股市发展很快。8年上了800只新股。美国100年才上了800只新股。(中 国证券界人士当时脸都红了)。这大发、滥发新股是社会主义国家传统计划经济下的“投资饥渴症”啊!有什么好吹的,股市大跌,人民亏损啊!这不是什么优点, 反而是中国当时几千万股民永远的痛啊!   4、要讲信用、言而无信,不知其可也!   在2015年股灾中,管理层在3800点一带已开始救市,并紧急向总理汇报。在总理关心下,决定停发28只已收款即将发出去的新股;时间是2015年7月4日;而周五收盘为3686点。   当时有12条措施。其中就有4500之前,50亿以上再融资暂停;并对发新股、再融资等均加以了限制。   现在是2700点,还救不救呢?如果不救,那当时3686的救市和现在2700点的不救?如何解释?证券市场是信用市场啊!如果不救,新股就真的别再发了!要讲信用啊!现在人们最怕的是发新股(如地方银行股江苏银行类的如大批上市)非形成巨大的股灾不可。   5、请新主席多做社会调查。召开全国投资者恳谈会;虚心向股民学习。千万别像肖主席那样乱抄乱搬国外的“洋经验”!   6、一切不利于股市、股民的事一点也不做。   中国股市灾难深重,大量(1.4亿)股民亏损累累。他们都为中国经济融资再融资做出巨大贡献。他们是中国改革开放中最可爱的人!要珍爱股民啊!   诚挚地希望刘主席能在习近平为首的党中央领导下,让股市休养生息;让股民也能做上一个好的中国梦。   珍惜伤痕累累、贡献巨大的中国股市!呵护亏损累累、痴心不改的中国1.4亿股民!   股市跌,股民悲;股灾多,中国痛!股市兴,中国兴;股民喜,中国福!   谢百三2016.2.25  于上海   (文字编辑:何忠谦、黄殷鉴、王亚男) 进入【新浪财经股吧】讨论相关的主题文章: