Xun Yugen, chief economist and director of the research institute of Haitong, put forward three far-reaching suggestions in his in-depth research and extensive strategy for the healthy and stable development of China's capital market.
First of all, Xun Yugen emphasized the importance of improving the quality of listed companies, which is the basis for ensuring the long-term stability of the capital market. He pointed out that as the core carrier of the capital market, the asset quality and operating conditions of listed companies directly affect the soundness of the entire market and the confidence of investors. Therefore, it is necessary to actively guide and support listed companies to inject high-quality assets, optimize the industrial structure through market-oriented mergers and acquisitions, and enhance overall competitiveness. At the same time, Xun Yugen also specifically pointed out that it is necessary to simultaneously improve the governance level of listed companies, strengthen the company's internal management and external supervision mechanism, and ensure the scientificity and fairness of decision-making. In addition, he also called for strict control of the quality of information disclosure, and increased penalties for financial fraud, insider trading and other illegal acts, so as to form a strong market deterrent. Establishing and improving the delisting mechanism is a key part of purifying the market environment, and only in this way can the market law of "survival of the fittest" be effectively brought into play, and a fair, transparent and efficient capital market system can be truly built.
Secondly, Xun Yugen advocates the introduction of medium and long-term funds to help the healthy development of the market. He believes that long-term funds such as pensions can provide stable funds for the capital market, which is conducive to alleviating short-term fluctuations in the market and prompting the market to pay more attention to the long-term value and development prospects of enterprises. This is not only conducive to cultivating investors' long-term investment philosophy, but also conducive to promoting the diversification and maturity of the capital market, enhancing the inclusiveness and resilience of the market, and ultimately promoting the deep integration of the capital market and the real economy.
Finally, Xun Yugen proposed the establishment of a national leveling standard as an important tool to regulate market fluctuations. When there is abnormal fluctuations or crises in the market, the state can quickly intervene and take corresponding intervention measures to effectively curb excessive speculation and maintain market order and smooth operation. Xun Yugen believes that setting the scale of the level at about 3 trillion yuan can not only ensure that there are enough funds to deal with various market fluctuations, but also avoid excessive impact on the market, and achieve a balance between market self-regulation and policy regulation.
These suggestions put forward by Xun Yugen not only point out the direction for the development of China's capital market, but also provide practical solutions to solve the problems existing in the capital market at the current stage, and have important guiding significance for promoting the healthy, stable and sustainable development of China's capital market.