The regulator has been shouting to ensure the smooth operation of the capital market, and the rescue forces of all parties are basically over, but the first is not to fight, and it has fallen again and again to break the psychological bottom line of shareholdersIn fact, it is very simple to find a solution, that is, it is not possible to replace people, and now it is indeed a critical moment for regulatory substitution, and the regulatory substitution has not brought any good results over the years, even since the launch of the comprehensive registration system, it is still difficult for China to get rid of the chronic disease.
At that time, Xiao Gang was in charge of supervision, and there was a bull market in 2015, but with the comprehensive clean-up of capital allocation, a bull market came to an abrupt end, and it fell all the way, and there was even an experiment of circuit breaker mechanism, which was later proved to be really not good, not suitable for China, and then Xiao Gang got out of class, and now he continues to attend some financial meetings, wearing the hat of the former chairman of the Securities Regulatory Commission, in fact, *** There is a lot of controversy in all aspects, and there is no reasonable explanation so far, but fortunately, the Shanghai Composite Index was still above 4,000 points when Xiao Gang left class.
Then Liu Shiyu came to power to push the white horse, indeed a stage, but unexpectedly Liu Shiyu himself came to power with illness, and then the market knew it, and the funds fled, and then the decision-making level decisively transferred Liu Shiyu away, Liu Shiyu surrendered soon after, and a storm was revealed to the world, which solved the worries of all parties in the market, Yi Huiman's new deal was concise and clear, and it was restored for a while, but now after the impact of the epidemic,** Lacking dynamism, even a full-scale registration system will not be able to save the end of the bear market.
Xiao Gang is the former chairman of the Bank of China, Liu Shiyu is the chairman of the Agricultural Bank of China, Yi Huiman is the chairman of the Industrial and Commercial Bank of China, and Guo Shuqing is the chairman of the China Construction Bank Ecology, on the contrary, is getting worse, a generation is not as good as a generation, and now it is below 3000 points 2 era, I am afraid that the supervision of the replacement of the four major banks will be to 1 era, this is a vicious circle, we must break this vicious cycle in order to govern China well.
Judging from this year's series of bailout policies, all parties involved in the supervision are trying their best to make suggestions and try to save China** , but people do not do the policy on the lack of effect, a variety of combination of policies to now not only did not turn the tide, but all the way down, directly fell below 3000 points, in fact, the key is the human factor, only the substitution can play the best effect, but now the substitution can no longer use the four major lines, history has and repeatedly proved that the four major banks of the supervision is indeed not good, not only not good but continue to deteriorate.
What is the idea of substitution, let's assume that if Yi Gang was not the president but the head of the China Securities Regulatory Commission, the effect may be better, of course, this speculation lacks evidence, but it shows that the idea of regulatory substitution should be considered from the top, and it is necessary to replace people with a macro regulatory vision to take charge of the government, like the central bank, the financial office, Financial office, these people with a top-level macro vision are far stronger than the four major banks of the people, now the supervision of the replacement is a matter of time, I believe that the decision-making level will have these aspects of thoughtful consideration, no longer blindly follow the halo of the four major banks.