Deferred Registration System Has Won The Hearts And Minds Of The People.

When almost all small and medium investors, whether they are full of bags or just cut out meat, they all know that "2638 points must be broken, and 2500 points are not at the bottom". "For a chairman of the SFC, it will not solve the problem of China's stock market". "After the two sessions, the market will be broken down, and this year's spring market is completely destroyed." this Monday, I am in "today's market."

The TV program predicted that "Friday will break through the top 2933 points and hit a new high."

On Friday, it turned out to be a reality. The volume reached 2971 points.

This week, the four big indexes took the 5.17%, 8.15%, 9.29% and 12.57% momentum of the rainbow as the main line to reverse the decline of the stock market this year, and unexpectedly revived the "Chun Sheng" market.

This is due to the brilliant debut of Liu Shiyu, the newly appointed chairman of the SFC, at a press conference last weekend.

In the first two and a half months of this year, the stock market has been declining and trading volume has shrunk. The vast majority of people in the market are looking at the market outlook.

Although management has repeatedly appease

It is said that the starting date is not equal to the implementation date. Even if the registration system is implemented, the issue price and the issuing rhythm will not be released at once, but also have to line up. It tries to make people feel comfortable and accept the reality of registration system. So that the A shares can develop rapidly to the 6000 listed companies as the new three boards, and also allow SMEs to facilitate listing and financing and serve the real economy more conveniently.

But the market has its own logic.

There is sober consideration.

Over the past 26 years, the Chinese stock market has implemented the IPO auditing and approval system. Most of the time, it issued new shares at high price and Gao Shiying rate (such as the price of issuing 148 yuan, the P / E ratio is more than 80 times), and refinancing at a high price.

Hundreds of millions of investors, at a higher cost, hold shares in the two level market, thus forming the existing valuation system and the share price center of the A stock.

On this basis, hundreds of millions of investors have successively made large losses for the large number of central enterprises and local state-owned enterprises. They have issued new shares for small and medium sized boards and gem at high price of seven and eighty price earnings ratio, supported the development of new industries, and made hundreds of millions of millionaires for the first ten largest shareholders of listed companies. They made great contributions to the development of China's real economy.

However, this year, the registration system for IPO has suddenly been launched.

People are puzzled by the fact that in the case of cracking down on the laws and regulations of counterfeiting and the absence of amendments to the securities law, the registration system has been registered since March 1st.