CFFEX, an institution that occupies a pivotal position in the mainland capital market, has made frequent moves in recent years, and financial derivatives such as refinancing securities, stock index futures, and stock options have emerged one after another. Behind these measures, whether they are really in line with international standards, whether they are really conducive to attracting long-term funds, and whether they can really promote the development of the capital market is a question worth pondering.
The launch of the refinancing securities business was originally intended to enrich the investment strategies of market participants and improve market liquidity, but in reality, it has evolved into a game of competing with the people. The ETF refinancing bonds launched by CIFEX are tantamount to a "bombshell" in the market, which has aroused great attention and heated discussions in the market. This innovative business model, while providing investors with more investment options, has also made market participants feel the pressure and risk.
The introduction of stock index futures and stock options is also to meet the needs of market participants for risk management, but the excessive abundance of financial derivatives has puzzled the market. The various financial derivatives launched by CFFEX are in line with international standards, but are they really in line with international standards? Or is it just for the sake of blindly pursuing profits, in order to blindly "benchmark" with the international market?
We can't help but ask, are these measures of CFFEX really to serve investors and better develop the capital market? Or is it just to make money, just to make money harder? The first thing that comes to mind for a quasi-public institution is not how to cooperate with a certain association to serve investors well, but how to make money, which makes people feel regretful and disappointed.
Nor can we completely deny CFFEX's efforts and dedication. As one of the core institutions of the mainland capital market, CICC has made a lot of contributions to promoting market development and improving market mechanisms. However, we must not ignore the problems and deficiencies that exist therein, and we must not allow the development of the market to fall into a vicious circle of blindly pursuing profits and blindly integrating with international standards.
We need to reflect on whether these measures of CFFEX are really conducive to the healthy development of the capital market. Is it really able to attract long-term funding? Is it really possible to provide a better service to investors? Perhaps, we should re-examine these issues and start from the actual needs of the market, rather than blindly pursuing innovation and international standards.
In the development of the mainland capital market, the role of CFFEX is irreplaceable, but its positioning and development direction require careful consideration. We need a CFFEX that truly thinks about investors and is truly committed to the development of the capital market, rather than a financial giant that only pursues profits.
The capital market is an important part of economic development, and as the core institution of the market, CFFEX is related to the development of the market and the interests of investors. We expect CFFEX to pay more attention to serving investors in the future, better play its role in the capital market, and make greater contributions to promoting the healthy development of the mainland capital market."