On June 29, the Securities Times published an article by Xiao Gang, a member of the Chinese People's Political Consultative Conference and former chairman of the China Securities Regulatory Commission: Xiao Gang: Achieving high-quality financial development is an urgent task to achieve a financial power.
In the article, the former director of the Policy Research Office of the People's Bank of China, general manager of the China Foreign Exchange Trade Center, chairman and president of the Bank of China, and secretary and chairman of the party committee of the China Securities Regulatory Commission expounded on the relationship between the economy, finance, and the stock market.
The stock market is a virtual economy, to build a financial power, to achieve high-quality financial development, we must pay attention to the development of the stock market, do not be afraid of the stock market rise, the stock market rise can better feed the economy, the stock market rise can better promote consumption, can better stimulate economic growth. Therefore, it is very important for financial powers to get the stock market out of the long bull trend upward trend!
To achieve the high-quality development of a financial power, we must attach importance to the development of the stock market, which is very certain. Looking back at the performance of China's stock market and the world's stock market in the past 15 years, almost all the surrounding stock markets have come out of the 15-year bull market, while China's stock market has fallen from 6,124 points and 5,178 points after two short bulls, and then hovered around 3,000 points to stop.
Xiao Gang said that don't be afraid of the rise of the stock market, but looking back at China's stock market, old stockholders know that as long as the stock market rises and catches fire, some people will be afraid and immediately rush out to put out the fire. In stark contrast to India, the U.S. stock market is in stark contrast. The Chinese and Indian stock markets opened at the same time, the Indian stock market is currently at 80,000 points, the U.S. stock market is about 6,000 points with the Chinese stock market around 2008, and now it is 40,000 points, and the Chinese stock market is more than 2,900 points.
In order to curb the rise of China's stock market, policies such as stock index futures, margin trading, and quantitative trading have been introduced one after another, which have indeed played a role in restraining and stabilizing, making the index stagnant at 3,000 points for ten years, and the issuance of new shares is indeed three or four hundred a year, and there are strange and strange things that are rare in the world.
Xiao Gang pointed out that the rise in the stock market can better feed back the economy, and the rise in the stock market can better promote consumption and better stimulate economic growth.
He pointed out that the current downturn in the stock market is extremely detrimental to consumption and economic growth. At present, 220 million shareholders and 700 million people are deeply trapped, and they are unable to come up with funds for consumption, which proves the adverse impact of the stock market on consumption and economic development.
Now China's stock market must cheer up, not be afraid of rising, and immediately ban some large and comprehensive short-selling mechanisms that seriously hinder the rise of the stock market, first let the stock market rise, and then let the shareholders and the people from the unbundled to the profit, so that they can have money to spend and support economic development.