First, the recent trend of the first so that many experts are shouting that they can't understand, the official policy in many aspects, the first in the word ** plays the role of the sea god, firmly pulling the index not down, but the gem and the science and technology innovation board are falling endlessly, many shareholders once again called for the suspension of IPOs, only by stopping the issuance of new shares can the market be truly rescued. The suspension of IPOs means that the capital market suspends the real economy. In recent years, the real economy has faced internal and external troubles such as overcapacity and global transfer, and the suspension of IPOs is obviously not in line with the national policy, once the suspension leads to damage to the real economy, the resulting problems such as unemployment and reduced taxes may affect the overall economic situation of the whole country.
The IPO cannot be suspended, but can only be slowed down, which is not only a market behavior, but also a comprehensive embodiment of many factors such as the capital chain, national policy guidance, and the interests of investment institutions.
Second, Goldman Sachs suggested that China take five measures to rescue ** and reverse market expectations and sentiment, including formulating a good prescription for the market, taking measures to reverse negative sentiment, stabilizing the market, alleviating the technical-led market sell-off, and boosting market confidence. Big A has finally come out of "independence" in the world** for two consecutive years, and shareholders hope to return to blood in 2024. But the fundamental problem is that the IPO and the associated costs of non-compliance are too low to create a series of problems that need to be addressed.
Third, in the past, A-shares were an audit system, and the demand was greater than the supply, which led to the fact that the vast majority of enterprises were more expensive to go public, and the current registration system is not a registration system in the real sense. There are currently 5,347 companies in A-shares, with a median value of about 4.3 billion, and the average TTM of companies in this market value range is about 100 million, 43 times PE, which is still expensive.
If it is a real free market economy, and a thorough registration system is truly implemented, it will be more difficult for poor enterprises and general enterprises to go public, and the valuation is also very low, and it is the same if they are not on it, but Bin's friends agree very much with this point of view, believing that the world's most successful capital market is precisely to adhere to the registration system for a long time, let the market choose for itself, survival of the fittest, and never engage in suspension and suspension.
Fourth, now our own institutional investors are using short-selling tools to make profits. In the past, it was said that it was caused by redemption, but now many people have lost more than 45%, and those who have not redeemed will not sell in this position, on the contrary, some people have been slowly replenishing their positions.
If there is no institution shorting, according to normal trading, domestic capital should be the same net inflow as foreign capital, and many listed companies are also buying back and increasing their holdings of their own companies recently, some ** companies are also buying themselves, and there are also national ** buying different ETFs.