Category: Money tips Release Date: 2006-04-10
Here's what I found in China features:
One of the characteristics of China: No one is making money this is the most shocking findings of me, in the development of China's stock market more than a decade later, China's stock market on a variety of institutional and individual investors are losing money, and is a huge loss .
In the available on all the data, the history of the highest market value is now twice, but that the new hair, issuance, the total funding allotment, etc., plus a variety of taxes, than it is now more than the total market value.
There is a very interesting comment on this is like, through the history of the Chinese stock market out of "big" and eliminate the banker, out of a few large brokerages such as stage, and was officially considered to be the most successful thing. In several major out in numerous market value wiped out, and said to each have a large group of people jumping out, but no statistical data. In China's retail in the most recent publicly available survey data in the search as much more than 99% of the investors are loss-making, in which a loss of more than 50% is still the mainstream.
The question of why some people jumping from a height survey, the answer is this: can only stock diving, but also allowed investors to jumpå‘€! Presumably this is the bar with Chinese characteristics.
The two Chinese characteristics: major shareholders do not care about stock prices in China China's stock market has many large and medium enterprises, especially those state-owned assets of enterprises the background, holding about 50-60% of non-tradable shares, which traded on the stock market accounted for about more than 40%. These enterprises are the undisputed majority shareholder. It stands to reason the vast majority of shares held by major shareholders of the stock price should be very concerned about. However, in China, the major shareholders do not care how the stock prices. In China a number of large public companies had an interview, some when asked the price of their shares, they actually answered he did not know. One of them answered, chairman of China's large listed companies, probably more than 10 yuan I say it, but the price of their shares has in fact only seven dollars more.
In this bit, I am exploring with some of China's investors, I am most impressed by the words is this: they can not even life and death we do not know, you say they know the stock price. Presumably this is also a bar with Chinese characteristics.
The three Chinese characteristics: the same index, not the same as the price of China's Shanghai Composite Index in 1992 and break 1000 on the Motion the whole point, after 15 years later, to return to 1,000 points, but in the same index under the conditions of China's stock market shares The average price fell by 10 days only a few dollars, if we carefully compare the 11, a considerable portion of the portfolio at this point with the 1000 1000 1000 point in history, when the share price fell 8 percent, 90 of the actually not just a few. On this issue, I also answer to question all aspects of the theory that the answer is this: index of large capitalization stocks down prices. But for this I am not interested in the answer. However, in a variety of analytical articles like this in the description of both the Chinese government in charge of some of the amazing ability to have control index.
Impressed me most was this statement: I do not know the index of how much, and I only know that an account that only 10%. Presumably this is the bar with Chinese characteristics.
The four Chinese characteristics: a variety of means for misappropriating = Financing in China's comments on the stock market, the most rampant of a word, but also the core of a word, that is grabbing the money. Is the official alleged financing.
I can not quite understand is that the stock market is to finance the establishment of its own Well, but, in China, no one would say that retail investors financing the word, they only know one word: means for misappropriating. And often said that when the word teeth.
The five Chinese Characteristics: In order to serve this state-owned enterprises out of their poverty is the most unique places China's stock market is one of many listed companies in China are some difficult, inefficient state-owned enterprises, the Government is unwilling or unable to re-allocate the money to help the of these enterprises, so, put the company is listed, circle to the money was to maintain the survival of enterprises, but most of these enterprises, because they would lack the ability to adapt to market competition, therefore, enclosing money to add only to overcome temporary problems, solutions I can not. Therefore, China's listed companies on the existence of a large number of such low-quality companies. So the relevant authorities to improve the listing on the quality keeps on speaking, so he worked out the share placements, engage in additional, engage in convertible bonds. However, a few years like a day, a listed company has not fundamentally changed.
Classic Comment: I have to contribute to state-owned enterprises, state-owned enterprises coffin for me.
The six Chinese Characteristics: There is a profit-sharing approach is placement of shares that we often see such a company annual report, the company's earnings this year, 0.40 per share yuan, the annual allocation scheme 10 with 3. What do you mean? Listed Companies in China every three years old can receive one-allotment option, if you are within three years of net capital gains rate is not a high level, you can make your small shareholders foot the bill, under the existing stock below to buy with your 10 3, depending on the final say by the listed company.
In order to save space, I might be China's stock market characteristics and concise summarized as follows:
The seven Chinese characteristics: one year on merit, two years Ji-ping, three-year loss of classical Comments: if you believe that any company is a blue-chip companies, then you better believe the bitch was a virgin.
The eight Chinese Characteristics: 10 "to send" 10, is what is good to switch 10 to send 10? Equity expansion is to double the share price fell banla, according to our argument that does not call distribution, called the split.
The nine Chinese characteristics: a broker can be off by disclosing tens of billions of shady financing with Chinese characteristics, the 10: Another big thing, the most severe penalty is "condemned", big things a condemnation of all right of the 11 Chinese characteristics: large shareholders that the small shareholders are the pig, big pig, but he is overflowing with big fat pig, pig super-skinny.
Classic Comment: China's largest pig flesh and blood are fed with pig manure.
The 12 Chinese characteristics: the same thing, different names in different periods, such as reduction of state-owned tradable shares and settlement in China, with the same meaning. However, the former is universal condemnation, opprobrium that again and again, the latter being known as the Chinese stock market's hope.
The 13 Chinese characteristics: leave the boss to discuss restructuring of both companies well, and a capital injection to another company engaged in the project, replacing the company name, but secretly they are raising funds to hire a broker helping them to engage in "capital operations." Operation of a result, one or two years the amount raised has increased several times. 10 times, the project has let the matter rest, the stock hold-up of numerous individual investors, but the owner of the original injection divestment slipped away.
The 14 Chinese characteristics: high premiums, and even competition for distribution, to draw lots of people want to buy, can buy that only a few percent. And many people have never signed in before.
Classic Commentary: One would like to fight, one is willing to endure. The simplest self-reviews: Fan Jian.
With Chinese characteristics, the 15: Chairman and frequently disappeared I've always wanted to give a succinct summary of China's stock market, wrestling, I found the most appropriate or only one word: the stock market with Chinese characteristics. It also made me deeply feel that China is extensive and profound culture of 5,000 years.
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