129788454874218750_129Reform the valiant general Guo Shuqing: diligent reformer
"Discussion on the layout of a sector of a reform, next day he past ask the head called progress. The third day, fourth day, has been asking. The fifth day did not ask, we all said, who knows, the sixth day, he sent someone to ask.
"A current SFC official said. On April 1, 2012, the SFC issued the guidance on further deepening system reform of new shares issued(Draft for soliciting opinions), stock market IPO restructuring, struggling to open.
At this point, from the new Chairman of the SFC only 5 months he took office, the distance he issued "IPO is not okay" shaking the one asked only two months. In the past few months, on the stock market with one climax following another, there is an undercurrent under the main flow. To reform posture on stageHe was pinned, but also highly suspect – an exception the interests involved extremely large and complex market, he would push for real reform? Is an example of people who are in support, is the newest of the present draft. This document disappoint many in the market, be considers not only did not touch the system of examination and approval of the stock market's biggestProblems, and had been questioned to institutional investors a greater say. In fact, since he assumed office the SFC, words and deeds of its frankly touched market nerves over and over again, creating engaged in a "Kwok storm", but these can truly bring about the reform drive, sustainability, is not known. People are in a wait-and-see, who has a "modified brave soldier," said-scholarOfficials, what will be unprofitable to the malaise of China stock market how to change? Rotation of the Director, personnel rotation was interpreted as breaking of ice-breaking operations approval power rent, but the opposition believes that "rotation, is Pratt? This is not corruption in turn gave the Director the opportunity?
"He again changes signal was issued, on March 24. Securities and Futures Commission said, holdingIssuance of administrative examination and approval power Department, gem, listing 9 departments such as the Department for more than 5 years of section-level cadres, and did not reverse the cadres of administrative examination and approval power sector-related post.
The rotation scheme is divided into two rounds, involving section-level cadres at and above a total of 41 people.
This is a seemingly small, far-reaching change. Serving power and non-power sector ',Level personnel will completely change, this would break the internal balance of securities over the past 5 years has been cured. "The hand is very, very accurate, but still required observation. "An evaluation of market observers. "Zhou xiaochuan on the SFC have also starting Division or Bureau level cadres ' rotation, but because the opposition is too big, nothing came of it. "Well versed in theIts offical run rules are clear, the Director at the administrative sequence of middle and low level, they are key people in impact and follow-up to policy implementation.
Especially in the Securities and Futures Commission of audit under the system, rent-seeking opportunities have emerged
tera power leveling, such as Wang Xiaoshi had issued individual lesson of officials of corruption. As "soldiers of the head, tail," "both commanders and combatants" DirectorIs not only a middle-level officials of the main components, they are work and policy drafting and promoting of the main force. Sigh, "is actually the vital sectors of China's most powerful Director. "Right now, wait-and-see atmosphere, subtle is spread in the SFC Fukai building offices, mixed feelings. "In most of the Director expressed his appreciation and support, but are roundHard to say.
"SFC within a Director told reporters. And this set off a chain reaction in the industry, "is the work of the past few years were in vain.
"When that release, and gem 6 more than half of the Deputy Director of a rotation, one brokerage executives look rather" sad ". The personnel rotation was rent by industry analysis for eradication of examination and approval powers of ice-breaking operations。 But it has also attracted criticism, in the non-power sector has always been the Commission's "the post which makes no profit" rotations to the right of the administrative examination and approval departments of "lucrative posts" post, attracted rather strident opposition, "rotation, is Pratt? This is not corruption in turn gave the Director the opportunity?
"Mission impossible? "If the world is an Oyster
tera gold, he may choose to use a knifeIt open ", an old friend had described.
In China, the Chairman of the SFC is not good when, there have always been "the crater" said, right now, some even Commission President and Chairman of the Football Association of par, because only two locations, brick and satire is not a move. On October 30, 2011, shortly after he became Chairman of the new Commission, stock minimumFalling below 2,200 points, only seen from the index, had fallen back to a decade ago, stocks of diffuse "ten-year rise in the stock market is zero" a lament. In the downturn of the market change, have always been difficult.
Stock long-standing abuse bushy, IPO, the return City Department of health or not by the core of the system is capital market, all eyes focused on this, this is he really faces big test. Mr GuoLeave the impression to the outside world is, if necessary, he can be very powerful.
"If the world is an Oyster, which he may choose to use a knife to pry", an old friend had described. However, any rational person clearly, in China, the current reform is impossible to man from Hong Kong, the, let alone the stock market mixed interweaving of interests, it is often said that he and CentralSimilar to the style of Zhou xiaochuan, Governor of the Bank, is a scholar-officials, adhere to fair, just and open concept-but sadly ending in the Zhou xiaochuan, Chairman of the SFC, Mr Guo will also encounter "dispatch troops to fight did not die before PCB"? Hard to pry open the capital market's established pattern, he will choose which angle?
This really test his wisdom and power. Look, he handled wingsWing to take the outflanking tactics.
In public, he has repeatedly stressed, "I just from the direct financing of indirect financing Job transfer to front, on capital markets mature and not much thought", but in an internal meeting, he is thrown in the form of questions "IPO is not okay", through the Securities Department of the newspaper has repeatedly stressed the importance of withdrawing system was introduced. "The thief stealing one from the marketCabbage, people are indignant, but if someone put his hand into the wallets of tens of thousands of shareholders, it is often not a cause for attention. This is the essence of insider trading.
"This is a wider spread of Kwok. "Love and hate distinct President Guo, he is not a child oil. Even attracted controversy, and well-meaning said. "A current Commission officials told him very highly。 "Well-meaning" post, Kwok focus reform of governance has become clear: promote the reform of new shares issued, advance the delisting, the gem system, forcing the "stingy person" dividends of listed companies, insider trading, "zero tolerance".
Almost on the Chinese stock market ills. In particular in the fight against insider trading, he almost started a regulatory storm. Many backlogs for many yearsFraud, insider trading, stock manipulation, forgery of rat silo, and other major crime being investigated and dealt with.
For example, listing cases of false scenery of mountains and long term at large of ping an securities sponsors two investment banks, soon after he took office, paper is a tough ticket to withdraw its recommendation on behalf of the qualification. Monitor storm and even "burned" into Mr Guo's old subordinate Zhang Chuanbin – before the CCB International executivesInvestigation by public security organs. Zhang Chuanbin was allegedly leading petrochemical Xiamen Xiang Lu to be backdoor restructuring of ST black-listed by "rat silo" get around $ 20 million.
He "shed tears Cham Ma Su" vibration of investment banking sector. These governance objectives, a former SFC officials say "shock". This person has personal experience term Zhou and Shang Fulin, he said, "How can these goalsYou can make it? Each nerve affects numerous interests, a little inattentive, poor will go wrong. "For example, insider trading," How can this be zero tolerance? China's biggest insider trading are coming from within the Government, even if the check, can only be found in small fish and shrimp. "Look, well-versed in painful and hard for China's reform he himself set a next to impossible task? OneMarket watchers is explained, "Guo to do so is no doubt that the political risk, but do not do the same with political risks. Two phase balance, the risk may be smaller.
"Horrible compared to the leadership of the former leading the investigation even when publicity stunt
tera gold, Mr Guo of research directly at home. Open Mr Guo's curriculum vitae, from academics to officials, look at your careerWind it all the way along.
1990, he is more than 10 years in the State Development Planning Commission, the State Commission for restructuring, holding restructuring the Secretary-General's important positions, has accumulated a lot of experience in macroeconomic management, also known as "modified brave soldier". After that, he served as Vice Governor of Guizhou province, Foreign Secretary and Chairman of Huijin company and became China's youngest Deputy Minister. In 2005,Former Bank Governor Zhang Enzhao bribery incident, Mr Guo be entrusted with a mission at a critical and difficult moment took over as Governor, assume success not only failed mission--led the construction Bank listed.
Under his strong governance, CCB in 216 days after successfully landing the stock exchange of Hong Kong. But in their daily lives, whether it's provincial Governor, also is Guo Dong Guo, he looks slightly dull, or even think of the teacher, the students whatHobby. Newspaper reading is that he has been in the habit of keeping, he strongly recommended to students of the Economist and the Wall Street Journal. In scholarship, write articles take up major time.
Also famous was he drinking, legend has it that he "once able 2 liquor", the students are afraid to lightly toast. Features also has a very clear--no matter who in the front, GuoShuqing was approachable, friendly amiable. "His body without the slightest arrogance of elite officials or dignitaries.
"Recalls an old friend, he's very humorous and often love some jokes. "The China Construction Bank, under Guo Donghui ridicule, see qualifications and old colleagues, he will easily take people shoulder you Xu, sometimes called your boss. "A senior bank employee memoriesSays, in celebration of CCB's h shares listed on reception, he temporarily changed the words, not a short time, all read out the names of several bank staff representatives, which makes a lot of people by surprise. This style is also led him to work, he does not get angry, anger from Wei--his memories and insights are very impressive, they will find that thisLeadership is not at all bad to deal with. First came to the Commission, this step by step press President Guo was difficult to adapt by subordinates. "I hear he arranged a Department discussion on a reform of the next day, he asked the progress that head over third day, fourth day, had been asked, the fifth day, there is no question, everyone said, who knows, the sixth day, he sent someone to ask."A current SFC official said. Zhihou, he went to Shanghai and the Shenzhen Stock Exchange research, on from the summary, you can clearly see a distinct, strong "Kwok" style, "language direct actions". It is said that Guo Shuqing said in research, research is not enough to say, do not have a good talk. Guo Shuqing, even some officials have let brokers "run"The Government," a sales department to request 35 Securities Commission issued letter of no objection, it is going to do?
"Even when compared to the former leadership research, Mr Guo's research is the use of alternative, at home.
Ministerial-level officials of the overall reform in China, he is to make a living by writing one of the most diligent. Look, he introduced in SFCReform can be one sentence summary, market by market management, the Government should take the initiative to weaken the powers.
Anyone familiar with Guo Shuqing said, may encounter difficulties to reform, he has a lot of patience and tenacity. In 2008, the development published by the Publishing House of China Mr Guo reforms on the set, he wrote in his preface: "plan and market these two areas have been troubled byOur decades of time, every step is very difficult, emerging again. On some issues, even you think 20 years without change. "For people today, China's reform has passed along hard now it is hard to imagine. In the 80 's, in the person of honor and dream of China economics, author Liu Hong, describes the entire process, "1980The need for reform, it is consensus, however, you can change, to what extent modified, into what, less than a thought. Prelude to reforms, was a double-history of hand-pulled, all actors, directors are present, however, this is not script reform. "At this moment, young Mr Guo also thought the reverse the tide of the reform of China's destiny. In the old daysYoung people in Inner Mongolia before 1978 to jump the queue. In 1978, he entered Nankai University's philosophy department, where he shifted from the philosophy of Plato to the economy and warm, from the Academy of social sciences, Zhang Zhuoyuan, a famous economist.
Since then, gradually started reforms in drama, he gradually and with that era many young economists, from small supporting role slowly walked to the center of the stage. 1984 years, 29 age, just law Dr graduated of Guo Shuqing participate in has China economic history Shang famous of Bashan round meeting, and other reform who together for hard of China market looking for direction; in Zhao Ziyang any Prime Minister during, he has is several more by attention of economists one; he and Wu Jinglian, and Zhou xiaochuan, and Lou, and Li jiange, people is called "overall reform on the who", isMany people has become China's important role in the economic field in the future. He later estrous recalls, "we most allowances or wages of only forty or fifty dollars a month, but we thought active, needs, and strive for is the unity of knowledge, allowed the fair to. More special is that most of us lived in social base, have some practical experience, discussions andInteraction can be out of books, studies and analyses may be more rational and pragmatic. "As you can see, Mr Guo wrote a large number of articles at this stage, published in the journal of reform, such as the comparison of leading economics journals, if any promotion, he also got into the habit still writing habits. It can be said that Ministry officials in China, he is to make a living by writing one of the most diligent, ChinaIssues of economic reform, and horizontal comparison of the economic reforms in each country routes, he dabbled in broad and think deep, impressive. Securities market to market "is market-oriented economic reform in China, a development oriented. We have no lack of idealism, but we more realism. "When the former" on the reform of the whole "openStarted and take the direction of China's securities market, he takes the difficult transition to what?
Must refer to a background, since the 2008 financial crisis, profound changes have taken place in the world, and since that time, save and rebuild national subject, doubt and reflection on the original system has also become a popular trend. Whither hesitant, not only inMinority exists. Famous economists, market pundits Zhang Weiying told journalists at the weekend in the South: "believe what you believe, is our concept, at this time, especially after the financial crisis, how can we judge the market, market economy, become a problem all over the world, on the United States in these countries, problems may not be very large, it is because the system is already quite stableSolid, but China belongs to the reform period, change you can swing on the possibility of comparison. "Long-standing abuse day deep in Chinese securities market, he to do with regulatory and market relations, his market exactly how far out of the way?
He will do it from side to side along the way? Many people in the market to an optimistic estimate, Shanghai Ben's limited researchDepartment head Zhang Haochuan said, "Mr Guo's approach has always been guided by the market, he, as Chairman of the SFC if not accelerate, at least not slow down liberalization of China's capital market. "Maybe, he had himself gives the answer, 2003, article in the challenge for the future reform, he concluded," is both a market-oriented economic reform in China,A development-oriented. The two guide is essentially consistent. We have no lack of idealism, but we more realism. "In Guo's view, reform's goal is not to pursue a beautiful model, but rather to maximize and promote economic and social progress. Mr Guo with special emphasis on development, "we always start with the development of plans and programmes to consider reform. "(The SouthWeekend interns Yao Xuepeng also contribute) further reading he assumed office the hundred day address
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