Category: Money tips Release Date: 2006-02-19
"I am a professional, and always maintain professional interest in, or in professional circles is more a bit more, so I became a member of the Executive Council the Government, but also to non-official capacity, you're not in politics," in late March one afternoon, at the Victoria Harbor River, China Merchants Tower, in private offices, reputed China and Hong Kong's "Iron Lady" Laura Cha for Fang Jian on her race the next chief executive may be involved in speculation on the reporter says.
Now working full-related professional In late March, local media reported rumors of another related to Laura Cha.
It is said that in view of the HKEx board of directors will in general by the end of April, the current Chairman and Managing Director Lee Yeh-kwong, as a term of six years, have reached the limit; the Government is likely to appoint the members of the Executive Council, and Ronald Laura Cha as the next director of the HKEx, the incumbent directors, and Marvin Cheung Henry Fan Hung-ling, the next board of directors includes at least four members of the Executive Council.
Another source pointed out, because Laura Cha, Ronald both in the financial sector have a certain influence and position, would be likely to compete to become the new Chairman of the HKEx's "dark horse."
Reporter did not on these speculations directly to Mrs Laura M Cha confirmation.
But the reporter has learned that Miss Shi Er â—?â—?Si Nian Jiu Yue officially retired vice chairman of China Securities Regulatory Commission, apart from the Hong Kong Special Administrative Region Chief Executive Donald Tsang's invitation to non-official capacity as a member of the Executive Council, the Hong Kong Government, which served as all the other duties of a professional nature, including HSBC Investment Bank Asia-Pacific non-executive chairman of Johnson Electric (blue chips), as well as independent directors on corporate governance in the international academic research institutions in an International Corporate Governance Network (ICGN) governing.
However, Laura Cha told reporters that she will soon serve as a director of two other bodies, the matter will be five in June between the announcement.
Unknowingly north "acclimatized" From the Hong Kong Securities and Futures Commission in 1998 as Vice Chairman and Chief Operating Officer, to monitor known as an iron fist; to the hand-picked by the former Premier Zhu Rongji, in March 2001 north, became vice chairman of China Securities Regulatory Commission, to the Iron Lady image blowing the stock market in Mainland China, "supervision Storm"; to two â—?â—?Sinian Jiu Yue Shisan Ri officially retired vice chairman of China Securities Regulatory Commission - studied in the U.S. Doctor Laura Cha, the stock market in Hong Kong and walked one around.
"I'm just normal to look at this experience go north," Laura Cha told reporters, "When is because that mainland enterprises listed in Hong Kong has become a trend in the hope that they have the opportunity to be able to have a true understanding of the situation, 'nothing ventured, nothing gained '. "
Laura Cha enumerated in the vice chairman of China Securities Regulatory Commission's actions: In order to improve product quality, enhance the listed companies of "corporate governance" concept; In order to regulate listed issuers, the introduction of the "sponsor system"; to prevent the supervisory framework for trend was perfect, establish a capital market, "withdraw from the market mechanism."
Looking back on Shenzhou, history does not consider itself "inability to adapt," think it is in the market when needed, made some should be done.
She said, was committed to promoting some of the simple market values are gradually be accepted. Such as "listed companies" can not be false accounts, the funds raised can not be used indiscriminately; "investors" must be aware that stock market risk, investment responsibility on your own, can not be loss of respect to the government; "regulators" supervision is only fair, open, fair, in order to have credibility and so on.
"The most regrettable is that the 'investor education' scheme did not have time to conduct. In fact, sophisticated investors is necessary to develop, 'investor education' includes education, awareness products, market risk education, and the Investor Responsibility and rights education. "
Hope to improve the quality of the mainland stock market Laura Cha frankly, the mainland economy 10 years of great changes, but the capital markets have not been able to play their due role, because the quality of the market is not high, the stock market "product quality" problem.
She said that the stock market instead of selling necessities "life supermarket", if the sales of "listed company", "is not new, unhealthy," people are not non-bought-not.
Although the mainland's stock market only a short 10 years of history, policy issues to be considered broader than in Hong Kong. However, since the market took to the road, you have to clear the capital market should be the right kind of, regulators must have the determination to solve the existing problems.
Laura Cha considers that the mainland's capital market from several aspects to enhance the quality, including the "investor quality", investors must understand the market risk; "product quality", a listed company's conduct must be standardized and transparent, so that investors that they have confidence; "brokerage quality", including the intermediate means of technical reliability, as well as fund management, the ability to operate; "regulators quality", there must be adequate tools, methods, intensity, market violators to enforce the law, do not create "obey the law," or "France is not responsible for the masses" and "bad" market culture.
Betrader abide by the rules listed in Hong Kong Laura Cha said that Hong Kong is recognized internationally as a mature market, the financial centers as a pillar industry, this position is quite clear that the SAR Government for this purpose made a lot of work.
For the industry worry that competition issues in Hong Kong and Shanghai, Shi said that the Shanghai market is very optimistic about the prospects, but does not want to be compared with the Hong Kong market, saying that it got a late start in Shanghai unfair. Moreover, the capital market, the "cake" will be bigger and bigger, does not mean who would lose in the competition.
However, history warns that the yuan freely convertible before the existing capacity of the mainland market, the Hong Kong enterprises in the Mainland to raise international funds are more advantages. Once the RMB is freely convertible, Hong Kong must strengthen themselves, continue to improve the quality of the market, for which she proposed to establish a corporate governance index in Hong Kong standards, to ensure that the operation of the company listed more standardized, transparent and quality of products more secure. In addition, she pointed out that Hong Kong in the futures markets, there is more space to develop.
For an increasing number of Mainland enterprises to seek listing in Hong Kong, Mrs Laura Cha warned: the capital market, money, businesses have to abide by the rules. Hong Kong's market open, transparent, supervision is very strict, if non-compliance, it is possible to jail. I believe the mainland market, will be more mature, and agree with this universal idea of the market value.
Laura Cha looked out the window view of Victoria Harbor, softly and journalists speak up one's mind; in the wall behind her hung a calligraphy called "The safety of the Fuji-chi, and danger is not easy to leather its heart."
"This is a departure from Hong Kong Securities and Futures Commission in the north receive a gift, is Huang Miaozi's handwriting, saying that I am at the Hong Kong Securities and Futures Commission's portrayal of a decade. Who put it up in Beijing, China Securities Regulatory Commission in my office on the wall" , Laura Cha description, so that reporters on the "Iron Lady" of the future, have more imagination.
