New "Nine Countries" Tamp The Bottom Of The Market Bull Market Genes Quietly Brewing

< p > the Shanghai composite index is hovering near the 2000 point. The State Council has issued several opinions on further promoting the healthy development of the capital market (hereinafter referred to as the new "nine states").

Some investors believe that this is a great expectation that the market has long awaited. At this point, the introduction of a new "nine country" shows the government's care for the stock market.

According to the insiders, the effect of the policy may not be immediate, but it will surely benefit the stock market for a long time. The key lies in the implementation of the policy.

Based on the confidence in the reform prospects and the current valuation level, the A share bull market gene is quietly brewing.

The market is expected to undergo profound changes and has medium and long-term investment value. Among them, the brokerage sector and the merger and reorganization sector deserve our attention.

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< p > < strong > policy is good, medium and long term < /strong > < /p >.

< p > "the State Council issued the new" nine countries ", which is of great practical significance and far-reaching historical significance for promoting the coordinated development of direct and indirect financing, improving the proportion of direct financing, enhancing the status of capital market in the national economy, protecting the legitimate rights and interests of investors, especially small and medium investors, and promoting healthy and stable development of capital markets.

According to Li Daxiao, director of the British Securities Institute, the new nine countries are looking forward to many years of great success.

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< p > Li Daxiao said that the release of the new "nine states" indicates that the state has a new understanding of the status of China's capital market. At present, whether in the actual position of the economy or in the proportion of GDP, China's capital market has been seriously underestimated, which is seriously inconsistent with its due status.

The release of the new "nine states" is a key step towards a mature market.

There is also optimism that the big market in the vicinity of the 2000 point repeatedly saw the launch of the new "nine countries", showing the government's care for the stock market.

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< p > in fact, the appearance of the bull market after the promulgation of the old "nine countries" has given some reasons for the hazy future of the market today.

In January 31, 2004, the State Council issued a number of opinions on promoting the reform, opening up and stable development of the capital market in response to the continuous downturn in the stock market for a long time and the market share accumulation disputes.

Beginning in the second half of 2005, the stock market began to rise all the way to more than 6000 in October 2007.

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< p >, but many people in the industry have also put forward different views. A shares will soon be dominated by concussion.

First, there is a time lag between the introduction of the old "nine countries" and the emergence of a real bull market, and the effect of the new "nine countries" is not expected to get instant results. Two, the new "state nine" is a summary of the development path and mode of development that has been explored in the recent period. It is emphasized in the form of documents. Three, the new "nine countries" issue also has the following factors: CPI growth, low innovation, and the upcoming IPO restart; four is the new "country nine" from publication to implementation.

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< p > Yang Ling, general manager of star stone investment, believes that the new "nine states" have a clearer expression in establishing multi-level stock market, registration system and delisting mechanism arrangement. This is a great benefit to the establishment of long-term mechanism in stock market, but in the short term, the good performance of market will not necessarily be immediately reflected, and the market is expected to be dominated by concussion.

Gui Haoming, chief market analyst of Shen Wan, believes that the market can not be changed because of the introduction of documents. The key is to be effectively implemented after the publication of the document.

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< p > < strong > better help to adjust structure and promote pformation < /strong > < /p >

< p > from the contents of the new < a href= "//www.sjfzxm.com/news/index_c.asp > > nine countries < /a >, no one can deny that the issuance of documents is of great significance for the next stage of the development of the capital market.

The industry believes that, from a more macro level, the release of the new "nine states" not only affects the development of the capital market, but also has an important impact on the current economic reform and revitalizing the stock of the economy, which will fundamentally affect the future market trend.

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< p > the industry believes that compared with the reform of the split share structure proposed by the old "nine states", the new "nine states" proposed reforms that can be compared to the stock issuing registration system, but this is already expected in the market.

The highlights include the coordinated development of regional markets, the systematic description of broad bond market, the breakthrough of private placement regulation, and the relaxed control of the securities industry. It also reflects the will of all ministries and commissions to implement the spirit of documents. For example, private financial products are scattered in different financial institutions, and different regulatory departments are subordinate to each other.

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< p > new "nine countries" put forward a new top-level design for the development of capital market.

It is clear that by 2020, a multi-level capital market system with reasonable structure, perfect functions, standardization, pparency, stability, efficiency, openness and inclusiveness will be basically formed. At the same time, it will also have far-reaching significance for the current economic pformation and reform. It is proposed to promote the development of mixed ownership economy, improve the modern enterprise system and corporate governance structure, enhance the competitiveness of enterprises, promote capital formation and equity pfer, better play the role of capital market in optimizing resource allocation, and promote innovation and entrepreneurship, structural adjustment, and sustained and healthy economic and social development.

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< p > > rosefinch investment believes that < a href= "//www.sjfzxm.com/news/index_c.asp" > A share market < /a > is undergoing profound changes, and capital market understanding of reform is still in its initial stage.

The stock registration system and the mixed ownership reform will further promote the historical pition of A shares from chips to equity and enrich the connotation and extension of investment management.

If the mixed ownership reform can make state-owned enterprises' employees and employees have the chance to share the growth of enterprises legally, openly and pparently, it will mobilize the enthusiasm of all levels of state-owned enterprises, continuously improve the efficiency of state-owned assets and enhance the competitiveness of enterprises.

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< p > < strong > increment < a href= > //www.sjfzxm.com/news/index_c.asp > capital > /a > market entry is expected to strengthen < /strong > /p >

< p > the industry believes that with the release and implementation of the new "nine countries", the attraction of the market for long-term funds will become more and more obvious.

From the current valuation level, the average price earnings ratio of Shanghai stock market has fallen below the reasonable level, and the statement on expanding the opening of capital markets and strengthening professional institutional investors will help to introduce more incremental funds to the market after the implementation in the future.

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< p > data show that there is obvious structural underestimation in the current market, and the attractiveness of long-term capital is obviously enhanced.

As of May 5th, the Shanghai stock market's average price earnings ratio fell 10 times to 9.69 times.

In May 6th, the overall price earnings ratio of Shenzhen stock market was 24.41 times, including 15.69 times of Shenzhen main board, 32.14 times of medium and small board, and 53.48 times of gem.

Dong Dengxin, director of the financial and Securities Research Institute of Wuhan University of Science and Technology, believes that the Shanghai stock market earnings ratio has fallen 10 times, indicating that the market is at the relative bottom, and the drop space is getting smaller and smaller, which can be said to be the darkness before dawn.

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"P > Guotai Junan, chief economist Lin Cai Yi, said that the new" nine states "promote mutual recognition of mutual funds at home and abroad, and mutual recognition of exchange products is another" big move "in capital markets after Shanghai and Hong Kong's links.

Insiders also pointed out that expanding the opening of the capital market is conducive to attracting foreign capital into the domestic market.

The new "nine states" support the national social security fund's active participation in capital market investment, and support institutional investors' funds such as social insurance (Fang Xinbao) fund, occupational pension, occupational pension, commercial insurance funds and offshore long-term funds to gradually expand the scope and scale of investment in the capital market, which is also a long-term good for the market.

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< p > in particular, the securities sector and the merger and acquisition sector are particularly noteworthy.

Lin Caiyi believes that securities companies, fund companies, Futures Company and consulting companies can cross licensing, which is to promote mixed operation in the securities and futures industry, and it is very important to improve the overall competitiveness of the securities industry as a whole.

Experts from the China Securities Association said that compared with the mature market, the scale of the domestic securities industry is still very small, and there is great room for innovation business development, and the industry has great potential for development in the future.

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< p > industry insiders also pointed out that this shareholder's activism and related stocks have gradually gained market attention and are expected to become a hot spot in market investment this year.

Generally speaking, the Target Corp with the placards has three basic characteristics. One is the low proportion of large shareholders, the two is that the value is significantly undervalued or not reflected in the business performance. Three, there is a cross between the concept of state-owned enterprises and the reform of state-owned enterprises.

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