Zhou Xiaochuan Spoke Of The Crux Of China'S Stock Market.

After all, it was the chairman of the securities and Futures Commission, so when it comes to the stock market issue, although there is no long talk, it is a public speaker.

Zhou Xiaochuan said that if the national equity financing market is mature, and a lot of capital can be pformed into equity capital through stock market, China now has a strong desire to develop the market, and it will also exert great strength, but it can not spoil its growth.

Zhou Xiaochuan's speech soon spread to the Internet with the title "China has a strong desire to make the equity financing market better developed".

This short speech by Zhou Xiaochuan gives people new ideas.

The speech is different from what people used to describe the stock market.

Because in Zhou Xiaochuan's speech, Zhou Xing long used the concept of "equity capital market" creatively instead of what people usually call "China's stock market" or "capital market".

And this is a different formulation, pointing out the crux of China's stock market.

First of all, the "equity financing market" formulation tells the essence of China's stock market.

Speaking of the functions of the stock market, people usually say that there are two basic functions of the stock market, one is the financing function, the other is the investment function.

When it comes to China's stock market, people still shyly say that financing function is the most important function.

Although this statement is somewhat contrary to the heart, it will still hold the "investment function" on the hand.

However, Zhou Xiaochuan's rule of "equity financing market" is more direct and clear. It does not need to bend over, as the name suggests, in a word, accurately stated the essence of China's stock market.

Because the current stock market in China is a share capital.

The so-called investment function is the wishful thinking of investors.

In addition, Zhou Xiaochuan's argument that "China has a strong desire to make the equity financing market better developed" also tells why the Chinese stock market is "short bear long" and even for a long time.

Precisely because

It is only a stock financing market. The purpose of setting up the stock market is only for the enterprise financing services. The relevant departments strongly hope that the equity financing market can better develop and better realize the financing function of the stock market.

Therefore, in this market, the investment function is only a subsidiary product, or even does not exist at all.

In this case, can investors still feel confident about this? In such a market where investors lack confidence, the stock market can only be "short bear long", or even for a long time.

Secondly, Zhou Xiaochuan's argument that "China has a strong desire to make the equity financing market better developed" also explains the reasons why China's stock market policy is on the market.

All along, the policy market of China's stock market has always been criticized by public opinion.

The people have always advocated the implementation of marketization.

To put it more plainly, China needs financing through the stock market to support the development of the real economy, and this desire is very strong.

Under such circumstances, can China's stock market get rid of the policy market? Can it really embark on the road of marketization?

So,

We should thank Zhou Xiaochuan for telling us the crux of China's stock market and letting investors have a clearer understanding of China's stock market.

As a management level, if we want to boost China's stock market, we must change the positioning of China's stock market "equity financing market", and let the stock market return to the positioning of investment function.

Otherwise, continue to maintain the "equity financing market" positioning, continue to ignore the interests of investors, then the A share market will only be able to maintain the "bull bear bear" pattern, and for a long time in a downturn.