Period, the State Council issued (the 38th), decided to revamp the national assets and equity exchange. the objective of looking at the code for the healthy development of the market for property rights? this reporter had an interview with Xiong Yan, Chairman of Beijing equity exchange. Chaos plagued with insufficient development of the Shanghai Securities News: China's property right exchange market almost 20 years have made great strides in the development and optimize the allocation of China's rapid economic development, to make a larger contribution. do you think it 38th article of the State Council think it is for what reasons? Xiong Yan: in recent years, especially in the last two years, various exchanges have sprung up to appear, and the cohabitation phenomenon. some newly established local Exchange, often without the preliminary market ready, in the local government with the support of the hasty and began with great fanfare "business innovation" exchanges, which so-called "innovation" business boundaries broke through the property market, and regulatory requirements
Runs counter to the, appeared has some people unwilling to see of mess as: as individual local trading institutions in equity, and art, and precious metals, trading in the, take has split fine, and continuous trading and-oriented does not specific public, obvious with securities of trading features of trading mode, to market regulatory brings great hidden; some trading institutions even also exists speculation hype, and internal people control, problem, serious effect has market order, also effect to entire property market of reputation. for this, State Council official introduced file, Requests to revamp the Exchange. Objective view, this cleanup rectifying is very timely and necessary of, it is for better to development China of exchange market and for of once "scraping bone therapy HIV". should understand, China of industry structure adjustment needs Exchange, China of social transformation needs Exchange, China of public investment also needs Exchange, from this significance Shang told, China of Exchange is not development too more, but development insufficient. in Government of rules
Under fan, China exchange market will be gradually moving towards a track of healthy development. The Shanghai Securities News: what's the source of the problem? Xiong Yan: Exchange mess as is produced, its deep of causes is in China market system of does not developed, rules of does not perfect, many this should by market bear of function are referred to the levels local Government to charge, around Government in development impulse of driven Xia, contrary to market law, governance, fast Shang Exchange, that appeared has administrative led, and bar segmentation, and pursuit surface achievements of phenomenon. little do they know Exchange itself is a is special of industry State, it needs quite more of resources environment do conditions, In impulse of development and supervision of local government capacity does not match the serious cases, the appearance of large numbers of Exchange implies great market risk. Another reason is that part of the chaotic Exchange profit. many people Exchange as a tool to make money, and Exchange as a public tool of our society
, Whose primary function is social rather than economic benefits. Exchange's "four iron law" the Shanghai Securities News: a comment that equity exchange will be a full clean up again, what is your opinion? Xiong Yan: generally, State Council the introduced 38th, file, let property exchange more clear has itself of business innovation bottom line, is: equity split fine trading of cannot touch, and continuous trading of cannot touch, and-oriented public investor of cannot touch, and concentrated bid and do city commercial, concentrated trading way of cannot touch--this will became future China property Exchange development of four section "iron law". While, these rules of introduced, will will in cleanup rectifying part eager for, and Dare to take the exchange for the pursuit of short-term benefits at the same time, was really in the market by those who abide by the rules, adhering to the "services marketing, service monitoring" idea exchange has the amulet. China's exchanges currently existing problems can be seen as trading
Growing up facing labor pains. it should be noted that exchange markets in recent years appear crossed the line just a very small number of irregularities, not mainstream of Exchange in China. In the exchange market system in China, including Beijing equity exchange, more than 60 companies engaged in State-owned property rights trading exchange, assume the important functions of the State-owned capitals value and its value-add tasks, play an increasingly important role in the development of national economy in our country, can be seen as an Exchange format in the "benchmarking". First, China of property exchange basic are acting Qing has and Government of relationship; second, property exchange are has full of trading rules. now national property market of trading rules is a national unified of full of system, while has a full of information trading system, to trading rules system full embedded which, guarantee has trading of quality control; third, property exchange of market intermediary system has comparison mature; IV, property exchange
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