Suggestions from members: Strengthen market magnetism and attract long-term funds to enter the market steadily
Enhancing the “magnetism” of the market to attract long-term funds steadily into the city During the two sessions of reporters Ye Siqi, several representatives suggested that the basic system of the capital market should be further improved, the “magnetism” of the market should be enhanced, the institutional investor team should be gradually cultivated, channels should be opened, and long-term funds should be steadily and continuouslyInject into the capital market.
Optimizing the structure of investors to cultivate institutional investors “Long-term funding sources have increased, and the proportion of institutional investors has been low, leading to market fluctuations that are highly related to transaction volume and are prone to volatility.
“Chairman of the National Committee of the Chinese People’s Political Consultative Conference and Shen Wanhongyuan Securities Research Institute’s chief economist Yang Changcheng bluntly, in mature markets such as the United States, ordinary investors enter the market more by buying insurance, insurance and then buying public funds, and public funds eventually enter the market.
Many representatives suggested that the A-share market should be changed to include retail investors as the main structure of investors and increase the proportion of institutional investors.
Xiao Gang, a member of the National Committee of the Chinese People’s Political Consultative Conference and former chairman of the China Securities Regulatory Commission, pointed out that the market structure is not yet reasonable, the trading system is not perfect, and investors are not mature, especially the investor structure is dominated by retail investors. This is a problem we have had for many years.
Yan Feng, member of the National Committee of the Chinese People’s Political Consultative Conference, chairman and chief executive officer of Guotai Junan International Board of Directors, believes that the current investor structure of retail investors in A shares is incomplete, and the entry of long-term funds optimizes the market ecology.
Jiang Yang, member of the National Committee of the Chinese People’s Political Consultative Conference and former vice chairman of the China Securities Regulatory Commission, suggested that attention be paid to the important role of the basic system of the capital market to promote the healthy and stable development of the capital market, such as promoting social insurance, commercial insurance, and public offering funds to form a positive interaction with the capital market and turn it into a long-term one.Funds entering the market to avoid short-term behavior.
The National Social Security Fund has been given more initiative to invest in equity assets, which has expanded from the current 40% to 60%.
Promote the gradual deferral of commercial endowment insurance for individuals to become a routine, and divide public funds into them.
Pilot work on corporate annuity and personal annuity investment options was launched.
Zhou Liang, deputy chairman of the China Banking and Insurance Regulatory Commission, said that the capital market is affected by the whole issue and plays a very important role in finance. Insurance funds have the function of long-term use. Generally, insurance is encouraged and supported to enter the market as long-term funds.
At the press conference of the State Council Office at the end of February, Yi Huiman, chairman of the China Securities Regulatory Commission, said that he would further strengthen coordination to open up various types of institutional investors such as social security funds, insurance, and enterprise annuities, and attract more medium- and long-term funds to the market.
Accelerating the pace of opening up to attract overseas long-term funds is not only domestic institutional investors. The pace of change in opening up has been accelerated, and foreign long-term funds have continued to enter the A-share market.
SFC news reporter Chang Depeng said that in response to a question from the China Securities Journal reporter about “How to treat the approval of the IQ RQFII qualification approval”, the IMF is one of the most important financial organizations in the world.Its investment in the Chinese market is conducive to further expanding the opening of the Chinese capital market, promoting the internationalization of the renminbi, and welcoming more foreign long-term funds such as IMF sovereign funds to invest in the Chinese market.
Regarding whether to liberalize the proportion of foreign holders’ shares, Yan Qingmin, vice chairman of the China Securities Regulatory Commission, said that the next step is to conduct a comprehensive study.
The overall direction is to continue to promote opening up, and continue to expand the opening up of stock ratios.
杭州夜网论坛 Speaking of the closely watched science and technology board, Li Xiaojia, a member of the National Committee of the Chinese People’s Political Consultative Conference and the chief executive officer of the Hong Kong Stock Exchange, suggested that international investors be allowed to participate in the primary and secondary market issuance of science and technology board through Shanghai-Hong Kong Stock Connect.
This is completely feasible under the existing system of Shanghai-Hong Kong Stock Connect. It is only necessary to replace the S & T board with the Shanghai Stock Connect Standard and open a block trading mechanism.
For now, there should be no institutional barriers to implementing this recommendation.
“The participation of more international investors helps to enrich the composition and liquidity of investors,杭州夜生活网 thereby improving the marketization and internationalization of the science and technology board.
Li Xiaojia said.
It is completely A shares, but other financial sectors and even the real economy have attracted foreign investment and formed mutual promotion.