129765260876718750_24Liu jipeng: 200 new listings alert family business to manipulate the stock market
Issue is the reform of examination and approval system reform as a breakthrough in the stock market opened, and written into the Government work report in the reform of the Securities and Futures Commission also convened several expert to discuss the stock market, Liu jipeng (microblogging) is one of them. Disadvantages of China's stock market, when interviewed by this reporter Liu jipeng, Professor presented her a complete proposal. The China Times: SFCFrequent door na, advocating free discussion environment, unified understanding of the reform, do you think, such a new trend to what kind of positive impact on capital markets? Liu jipeng: I recently gave a high appraisal of the SFC, Commission leader said that, coming to often have such a meeting, especially convened to comrades who normally love comments, not always looking forPeople who carry a sedan chair. Comrade of love the usual advice in a relaxed mood, I was feeling very excited even words, Guo was because the new President opened the outdoor air, if there are more such occasions in the future, not only to listen to the views of experts, and to listen to the media people mean, but also to secondary market sales department and shareholders meeting twice, because they are the marketThe God. After President Guo, I know already have business Department of Council leaders to listen to the Forum, I hope that in the near future, Chairman of the Securities and Futures Commission, Vice President of sales. The China Times: what are your specific recommendations for the reform of the distribution system? Liu jipeng: reform issues, I mention three: the first is the dividend on the issue, it should be said that emphasized value investingYes, but must act in line with the line, not the core issue. The second delisting system is very important, but the issue is the key. Delisting system is aimed at the gem and NASDAQ generally back two hundred or three hundred per year is common, however, we are not starting from issue system, but delisting system all day long total gem. Gem can now returnDid the city? We now average at more than $ 40 million profit of the GEM listing standards, originally envisaged in the gem is the low threshold, but now is not the gem on small and on. According to the enterprise's material, every company raises up to $ 250 million, which is more than 60 billion yuan at best, so we gave them $ 198.5 billion and raise funds on more than 1200 superBillion yuan, the fall it can do? Lies a 700 million on average each account, who lies 700 million of the funds in the account can cancel? Shenzhen Stock Exchange also was hard to charge Super proceeds. Since delisting, the gem can not return at all, not to use the delisting as a main direction of the reform of; the gem is not delisting, and release. Gem distribution system in China is not solved, just talking about delistingSystem does not work. Issued under the system of examination and approval departments should right, sponsor underwriters to benefit, where the Committee is essentially a shield, have reached the point of a one-year term, finally no one bear all risk, right? China now has more than 500 companies line up to wait listed, you happened to open such a small mouth, dishes are so small, interests are so associated Broker benefitsYi, shareholder interests, PE, sponsor direct investment interests in it, also does not push the issue price to heaven? The China Times: invalid configuration results in capital markets resources enterprises get more money with money, capital cannot be allocated to an entity where they are most needed, resulting in what are the key factors of the capital market resources configuration is invalid? Liu jipeng,: gemThree superb raised problems, regulators consider it fair enough, low on the efficiency of the special, it is important for understanding, understanding is a prerequisite for solving problems. If none of the three superb raised to recognize, how about resolution? From fair, said Fu $ 85.6 billion, US 290 companies offering rich, 116 the 1 billion rich family. Gem prices so high,Our entrepreneurs not to venture capital, to create wealth, how Apple and Microsoft will produce the gem? The gem is not a reduction of executives of the company, is the major shareholder vote modified PE, and taste the sweet spot of the capital. This is not a reasonable system. 200 billion yuan of funds allocation to 290 gem enterprises, and thousands of small and medium enterprises was stuck outside the doorCapital market services was not; if the 200 billion yuan of funds allocated to 2000 companies, back again and again to 20,000 PE, which is quite different. Regulators believe that shareholders have high price of new shares, regulation more strict check, they are accountable to the shareholders
tera power leveling, after delisting, stock loss even worse. For example, $ 148 per share subscription small hepalink, onceDelisting, a penny stock investors are falling, and wealth had been picked clean. Is the most important gem hidden family business is the enormous potential of a single shareholder, key is the reduction of major shareholders. Gem 290 enterprises family of which 276, 95%, before the average stake of 56%, after listing the average stake in 42%, after October this year, the firstThe reduction of large shareholders, they used stock markets can be high parabolic bargain, what results do they decide, this is where the internal injuries of Chinese capital market. Therefore, I propose as soon as possible before the largest shareholder of listed family companies listed compress to 40%, listing between compression to-30%, this is a long term strategic considerations. The China Times: in your opinion, buildingMaintain an equity capital market efficiency, to provide fair access to financing, which aspects should be to reform the existing system? Liu jipeng: courage is the key to the reform of the system of "power of love", "love for the ocean" complex war, approval triage, risk free, that market, the liberation of his. Education Publisher, used education investor, but it actually should be taughtPedestrians. I made 16 characters. The supervision and examination of separation, decentralization, which is the first 8 characters. The Commission's job is to catch the bad guys, if we are supervision and examination does not, put all her energies on the approval
diablo 3 power leveling, supervision is bound to do well. From the perspective of international practices and China's present situation, might as well put the gem on the Exchange. 8 after words is a true supply and demand, solid recommendation. Responsibility should be made clear in the futureSponsor (Underwriter) and sponsor representative who, sponsor representatives and sponsors are divided into three levels of sponsor channels if the deficiency will reduce, to the public; if false, sponsor qualification is revoked, issued recommendation to stop brokers a year, serious or criminal penalties. Issue can be packaged on the issue, 50 at a time, I do not believe that the price does not go under, if 50 is not enough, we can also on the 100 and 200, is able to guarantee the supply of resources now listed. I would like to stress that this is not an expansion, release the price down to $ 200 billion in the same ration of 1000 or even 2000 companies
diablo 3 power leveling, there is no more money on the one hand, on the other hand issue price down to make room for secondary market development space, Solves the problem of issuing entry, delisting is ripe for export. In this process, the Commission reduced the approved substantive human, there will be more opportunities for enterprises to create listing, dealers and representatives of sponsor responsibility in person; SFC energy primarily on catching the bad guys, focus on punishment, who dares to ' milistary it? At the same time, investor protection and protectionFund initially to give appropriate compensation to the shareholders.
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