<tt id="6hsgl"><pre id="6hsgl"><pre id="6hsgl"></pre></pre></tt>
          <nav id="6hsgl"><th id="6hsgl"></th></nav>
          国产免费网站看v片元遮挡,一亚洲一区二区中文字幕,波多野结衣一区二区免费视频,天天色综网,久久综合给合久久狠狠狠,男人的天堂av一二三区,午夜福利看片在线观看,亚洲中文字幕在线无码一区二区

          Money

          Investor protection vital for market to move forward

          By Cao Fengqi (China Daily)
          Updated: 2011-06-01 14:49
          Large Medium Small

          It has been 20 years since the birth of China's stock market, which has experienced wild ups and downs. Looking back, I think we should reflect on what kind of market it has developed into, what role it has played in China's economy and what we should do next.

          China's achievement in developing its capital market during the past two decades deserves recognition. The establishment of the stock market transformed the planned financing system into a market-oriented one that could allocate society's capital more effectively and push forward the development of a market economy in the country.

          It also helped accelerate the joint stock holding reform of domestic enterprises with more than 2,000 companies going public. Entrepreneurs - including investment banks, rating agencies and accounting firms - that truly understand the market and competitive financial institutions have also emerged, along with the growth of the capital market.

          New investment channels have been created and the market has nurtured a group of sophisticated investors with high awareness of market risks. People's attitude toward the stock market has changed, which led to an investment culture.

          While there has been remarkable progress, we should also note the problems that need to be addressed. Companies tend to treat the stock market as a place to raise money, but seldom pay attention to the interests of investors and how they could pay the investors in return.

          There are companies that have never distributed dividends to their investors. Returns many investors made from dividends are even less than bank deposit interests. This has led to a speculative sentiment in the secondary market, which investors see as a place to pocket quick profits instead of making long-term investment.

          The regulator has so far not designed a system that could effectively protect the interests of investors, especially retail investors who often suffere from sharp market volatility.

          For years, stocks in China have been scarce resources. The opportunity for retail investors to subscribe to shares in the primary market is far smaller than institutional investors. Thus, they often pay high prices at the stocks' debut trading, and are trapped after prices fall sharply.

          How can a market develop if it is not the place where ordinary investors could make profits? The most urgent problem is to establish a system that truly protects the interests of investors.

          In the meantime, we should continue to develop the multi-layer capital market. The size of the start-up board, ChiNext, needs to be expanded to empower more innovation-driven but cash-starved small companies to tap the capital market.

          The regulator should also boost the trading scale of the bond and derivative markets to raise efficiency and substantially expand the proportion of direct financing in the domestic capital market.

          Cao Fengqi is director of the Finance and Securities Research Center at Peking University.

           

          分享按鈕
          主站蜘蛛池模板: 免费成人深夜福利一区| 国产69精品久久久久99尤物| 丰满少妇被猛烈进入无码 | 亚洲理论电影在线观看| 日韩精品国产中文字幕| 白嫩人妻精品一二三四区| 欧美孕妇乳喷奶水在线观看| 一本一本久久久久a久久综合激情| 亚洲乱码一区二区三区视色| 撕开奶罩揉吮奶头高潮AV| 人妻少妇看A偷人无码电影| 日韩有码精品中文字幕| 狠狠躁日日躁夜夜躁欧美老妇 | 西西人体大胆444WWW| 欧美激情一区二区三区高清视频| 国产老妇伦国产熟女老妇高清 | 日韩一区二区三区在线观院| 好爽毛片一区二区三区四| 久久亚洲精精品中文字幕| 亚洲一区二区啊射精日韩| 大地资源高清播放在线观看| 亚洲色图狠狠干| 国产精品欧美福利久久 | 国产午夜一区二区在线观看| 人妻丝袜无码专区视频网站| 狠狠躁夜夜躁无码中文字幕| 国产AV巨作丝袜秘书| 宅男午夜网站在线观看| 国产午夜精品福利视频| 天天爽夜夜爽视频精品| 日本欧美大码a在线观看| HEYZO无码中文字幕人妻| 亚洲成片在线看一区二区| 日本熟妇XXXX潮喷视频| 国产精品中文字幕免费| 手机在线看片不卡中文字幕| 亚洲天堂欧洲| 色综合久久久久综合体桃花网 | 亚欧乱色精品免费观看| 好姑娘完整版在线观看| 久草国产手机视频在线观看|