The Highest Level Decision-Making Bodies Point Out The Direction And Specific Measures For The Stock Market.

At present, the stock market has basically stabilized, and at present, the national team is still in the trillions of dollars. It should return to the market as soon as possible and restore the true face of the normal market.

The degree of marketization of stock market is very high, and there is an inherent law that can not deviate from it.

Too much administrative power intervenes, and the stock market is definitely not healthy.

The Politburo's five requirement for the stock market is the A share Gospel Political Bureau. The five requirement for the stock market is the gospel of A shares.

A series of major securities market cases recently dealt with illustrate the importance of strengthening market supervision.

The SFC first wants to clean up the portal and clean itself. Secondly, the key point of supervision is to ensure that the market is pparent, fair, fair, accurate and unscuded, and the rest is handed over to the market and investors completely. Thirdly, according to the law of securities and other laws, all kinds of violations of laws and discipline are investigated and dealt with according to law, so as to purify the market environment.

The above three points are enough.

The Political Bureau of the CPC Central Committee held a meeting in April 29th to stress that macroeconomic policies should be targeted.

We must maintain the healthy development of the stock market, give full play to the regulatory role of the market mechanism, strengthen the construction of the basic system, strengthen market supervision, and protect the rights and interests of investors.

When China's A shares remain in a slump and the capital market is facing major difficulties, the highest decision-making level gives a clear and important voice to the stock market, which is indeed a timely rain.

This is the first time since the stock market crash last summer, the Politburo meeting first mentioned the stock market problem, and put it on the front of foreign exchange market, housing market, employment, price, state owned enterprises reform and opening to the outside world.

The Politburo meeting has five requests for five sentences in the stock market.

The author analyzes and understands that the first sentence and the last sentence are objective requirements for the stock market, that is, to maintain the healthy development of the stock market and protect the rights and interests of investors.

The second, third, fourth is the specific measures required to achieve the above goals.

Behind is

Lack of failure.

This market failure is not the internal cause of the market mechanism of the economic significance, but the failure caused by the strong intervention of the national team and the squeezing of the market mechanism.

The market mechanism failure caused by the strong intervention of visible hands is the unhealthy stock market at present.

Protecting the rights and interests of investors is the goal of China's A shares, but it has not done well.

The biggest and best protection is to establish a completely market-oriented, fair and pparent, sound legal system and strong regulatory market.

The key is to return the power to the market, let the market speak and let the market fully allocate resources.

Keeping the market pparent, open and accurate is the key task of supervision.

All other options are handed over to the market and handed to investors.

This is the reason why the meeting of the Politburo will "give full play to the regulatory role of the market mechanism" at the top of the three measures on the basis of the two major objectives.

It is necessary to admit that the government intervened in the market during the last year's stock market crash. However, the way to intervene is to let the national team go directly to the market and buy the stock market.

Today's stock market.

The internal crisis is more or less directly related to it.

We must learn from it and draw lessons from it.

At present,

Basically stable, and the current national team is still several trillion or more, it should be returned to the market as soon as possible, to restore the true face of the normal market.

The degree of marketization of stock market is very high, and there is an inherent law that can not deviate from it.

Too much administrative power intervenes, and the stock market is definitely not healthy.

The biggest unhealthy factor in the stock market is that the market mechanism can not play a role.

To achieve the healthy development of the stock market, we must let the market mechanism play its full role; the market mechanism should play its full role and the tangible and tangible hand should be completely recovered.

To give full play to the regulatory role of the market mechanism, the shareholding of the national team should be released as soon as possible, and administrative means should no longer interfere with the market.

Let the stock market operate according to its own law and let the market mechanism play the role of baton.

The power to invest in the stock market is completely given to investors, and, of course, investors are also responsible for their investment decisions, including the risk of investment failure.

A key link in giving full play to the regulatory role of the market mechanism is to reduce the administrative examination and approval items and make the market mechanism "master" thoroughly.

The urgent matter is that the registration system of the issue should be implemented as soon as possible.

This is also the meaning of the second measures to strengthen the basic system construction.

To strengthen the construction of the basic system, registration system is one of the most basic systems in the stock market. The revision of the securities law currently under way is the most basic legal system construction in the stock market.

It is believed that registration system should be one of the specific contents.