Category: Money tips Release Date: 2007-05-27
Google, welcomed 2.68 million search results, "national stocks" in a sudden become a long-short struggle, "front side", 101.1226 million securities investors, appears to represent a population of 1.3 billion short-selling in the domestic stock market Bo silly has become a "crazy speculation" the unspoken words.
As of May 30 of this total number of accounts between the two cities, compared with 1.3 billion of the total population, their proportion has only been 7.78%, it is difficult to associate "popular stocks" in the name. Some would say that stocks are mostly family move, if the country 400 million household, the participation rates of 25%, 160 million families in urban participation ratio as high as 63%. But in fact, number of accounts opened in Shanghai and Shenzhen markets, the vast majority of the two overlap, that is, an investor will usually open at the same time the two markets trading account, it should account for half of the securities 101.1226 million calculations.
If you take into account the large number of years without dormant account transactions, a number of brokerage firms self-drive, as well as institutions, banker's "Tractor" account, the actual investment stock estimated at a maximum of 30 million investors in people. The market is more accepted view of 20 million -3,000 million participants, according to the country 400 million household, the participation rates of only 5% -7.5%, calculated according to 160 million urban households, the proportion of investors to participate in a corresponding increase to 12.5% -- 18.75%, still within a reasonable range.
Clearing the data provided by the number of departments also proved this point. China Securities Depository and Clearing Co., Ltd. in March this year, the business Monthly Bulletin of Statistics show that the vast majority of provinces roughly equal number of accounts opened in Shanghai and Shenzhen; Shenzhen Stock Exchange in March this year, the data also showed that nearly 40 million A shares account for them, a quarter of active transactions account for just over 1160 million.
The so-called "national stocks" was in fact on the retail market, the high proportion of an exaggeration to describe this year's A-share market has been growing accounts figures are constantly rising A-share index, some organizations, unfortunately, Ta Kong and other factors, led to the intensification of the debate.
"National stocks" is not an outright derogatory term. Let people share the rapid economic growth, stimulate domestic demand, the whole society to enhance the level of securitization of financial assets, to effectively stimulate real economic growth, stimulate the job market, so that the whole society awareness of the public investment, wealth consciousness have been strengthened, we should say "national stocks" are also credit.
In fact, the "national stocks" has brought the biggest problem is that significant features of the retail market, the market easily in a non-rational state, prone to lead to greater market risk and the corresponding social problems. Is already showing signs of this area, especially in the policy control in cases where the intention is very clear, the market is still in high-pitched state of the parties need to attract market attention.
To resolve the relevant risk, and strengthen its positive side, methods are also very simple, is to "national stocks" conversion "National ownership" to increase awareness of the securities investors and risk awareness. Looking at the situation from the United States, its total population of more than 300 million, the number of accounts more than 8,000 million, accounting for nearly 30%, but the less participants to conduct short-term speculation, investors most of the funds or through mutual funds or pension funds indirectly enter China's securities market.
However, from the "national stocks" to "full ownership" could not be accomplished overnight, the market development stage, its "universal stocks" phenomenon is likely to remain at the present stage of the mainstream consciousness of the people is necessary to correctly establish the investment, but also requires the parties to long-term efforts to achieve . For example, pension funds can not be quickly at this stage of China's bigger, with the relevant supporting policies and regulations, including tax incentives, which do not improve, or delays in the implementation of related, ordinary people had to personally finance the future retirement life, so that the retail market-oriented Level of course can not be changed.
Shenzhen Stock Exchange statistics show that in March brokers, funds, QFII trading institutions such as share of about 10% of the total market value of holdings account for about one-third of the total market value is about the future, if shareholders in a corporation can achieve 50% of the total market value or higher, trading more than 30% share of the market weakened retail features, even if the A share accounts continued to increase, Shanghai and Shenzhen stock markets are wearing this top "national stocks" hat can still readily throw away. From this perspective, the increase in stamp duty on stock market transactions, for short-term reduction in retail trade, foster "national ownership" has practical significance.
