There is still one last trading day left before the holiday, and a replacement was suddenly announcedIt seems that the report to the capital market at the highest level yesterday on the Internet is true. The former chairman Yi Huiman was dismissed, note that the general normal dismissal will be added to another appointment later, and it is not mentioned here that the above is not satisfied with Yi's work performance, which is the same treatment as Xiao Gang, who was dismissed due to circuit breakers.
The new chairman, Wu Qing, has experience in the field in the past, as well as experience in the exchange, and is the first chairman of the securities regulatory system who has never been in the banking system. Yesterday, the top level parachuted directly after listening to the report, which shows that the top level is eager to see changes in the capital market. Judging from the performance of the A50 at the moment, the market is underwhelming.
A coincidence is that the nearly three chairmen of the China Securities Regulatory Commission who have been dismissed have all been masturbated at a stage low, and the objective fact is that the fluctuations in the capital market have affected their official positions. In addition to a large number of IPO indicators per yearIt is also the main responsibility of the chairman of the CSRC to avoid systemic risk in the capital market, which is obviously far beyond their capabilities. The chairman of the China Securities Regulatory Commission and the chairman of the Football Association are really the two most difficult positions in China, and I have never seen a few that can be smoothly implemented.
Talking about possible changes, when he was the chairman of the Shanghai Stock Exchange, he expressed four major reforms to the capital market, one is to steadily promote the reform of the new share issuance system. It is necessary to maintain the normalization of the issuance of new shares. The second is to intensify the work of delisting. The third is to improve the merger and reorganization system. Fourth, strengthen the main responsibility of the front-line supervision of the exchange market. However, this was the statement made in an interview eight years ago, and the status at that time determined that there was limited room for expression, so it would be inaccurate to speculate on the direction of reform after being promoted to the chairman of the China Securities Regulatory CommissionAt present, the high-level positioning of him is to put out the fire, and he needs to see a change.
Therefore, there is also room for the predecessor to loosen the policy, such as the recent IPO indicators reported by the provinces this yearIf the new shares can be suspended, it will be a big positive for the market. Then it is to increase the punishment of illegal acts of listed companies, which has always been the place where shareholders criticize, the punishment of listed companies is too light, commonly known as the fine of three glasses of wine, the practice of the mature capital market is to let the offender be punished to the bottom of the bankrupt prison, to put it bluntly, the current cost of illegal is too low, there is no awe of the capital market.
The new chairman used to be tough, once known as the "butcher of the brokerage", who had dealt with 31 illegal ** companies, and was also familiar with the operation of the capital market.
Finally, to reiterate, the volatility of the capital market is not something that can be solved by changing the chairman of the China Securities Regulatory Commission, and its internal cause is the economic deleveraging caused by real estate, and the reversal of the capital market needs greater thrust. Yesterday, Beijing and today Shenzhen have a new real estate policy, all first-tier cities have been loosened, continue to pay attention to the indicator of Sino-US land bonds, it will be the key to the starting gun.