A Shares Turnover Rate Is Extraordinary High Rise And Fall Is Common.

In terms of players' characteristics, A shares account for half of the retail market share of free float, 23% of the institutions and 6% of the national team, and the absolute return and relative income scale of the organization is more than 16:10.

In terms of paction characteristics, retail investors contribute about 85% of the volume of pactions. Institutions 12%, 2016, the annual turnover rate of motherboards 262%, gem 797%, retail 1157%, 15 times for 2 times; on chip distribution, the fund favours emerging industries, insurance and QFII love financial and other blue chips, and the national team likes the word head blue chip.

The biggest characteristics of A share investors are the high proportion of retail investors and the low proportion of institutional investors, and the proportion of retail investors is half (according to free market capitalization), while the proportion of institutional investors, such as public offering, private placement, insurance social security and so on, is only 22.5%.

In mature markets, such as the US Standard & Poor's 500 index investor structure, individual investors account for only 14.1% and institutional investors account for 66.5%.

We have all the 15 annual reports.

According to the statistics of the circulating shareholders, it is concluded that A shares account for 50.4% of the free market share of the shares, retail investors account for 18.9%, general corporate 18.9%, public offering fund 8.6%, insurance and social security 6.4%, sunshine private placement 4.2%, brokerage 1.6%, QFII and RQFII1.7%, national team 6.1%;

Investors accounted for 32.2%, general legal person 48.5%, public fund 5.4%, insurance and social security 4%, sunshine private 2.6%, brokerage 1%, QFII and RQFII1.0%, and national team 3.8%.

In institutional investors, absolute income investors account for a relative proportion.

In the past 14 years, the scale of absolute income investment has increased significantly. The proportion of absolute income (including private placement, public fund account, venture capital) and the relative income fund scale (stock type and mixed fund) has risen from 9:10 in June 14 to 16:10 at the end of 15.

First of all, private equity funds are accelerating.

In September 14, private equity funds (securities, data from the Fund Association registration, excluding private placement in the whole market) had a management scale of about 440 billion, compared with the scale of public offering fund (stock + hybrid) at 3:10.

But with the fermentation of the bull market in 14 years and the madness of the bull market for 15 years, private funds have sprung up like bamboo shoots after the rain.

In April 15, private equity fund management scale for the first time exceeded 1 trillion, compared with the public fund (stock + hybrid) scale 4:10.

After the 615 disaster, although the share of public funds fell sharply,

Relatively stable, since September 15, the scale of private equity fund management is stable at around 1 trillion and 700 billion, compared with the scale of public offering fund (stock + mixed type) to 7:10.

Secondly, for the public offering, the traditional relative income oriented mode is also changing, and the scale of the special account has been speeded up.

Because most of the household products are fixed products, the proportion of stock fund accounts for a relatively small proportion. We reflect the growth of the special account with the total scale of the special account and the total scale of the public fund.

In June 13, the scale of the special account was about 968 billion 200 million, compared with the scale of the public offering at 4:10. By the end of 15, the scale of the account has risen to 40262 billion, compared with the scale of the public offering.

In addition, the amount of insurance funds invested in stocks has increased considerably over the past year, rising from 800 billion in 14 in June to 1 trillion and 700 billion at the end of 15.

At the end of the first quarter, the national team held 1 trillion and 100 billion, excluding the stock price factor did not decline significantly.

The national team mainly includes the certificate company, 10 CSI financial asset management plans, the 5 subscription companies, the investment organizations under the safe and the Central Huijin Asset Management Co. Central Huijin Investment Co was established before the stock market crash last year, mainly represented by the state's equity investment in the state-owned key enterprises rather than the stable market.

According to the circulation shareholders statistics of listed companies, the national team held a market capitalization of 1 trillion and 93 billion 20 million in the 1 quarter of 16, and the absolute value decreased from 1 trillion and 288 billion 20 million at the end of 15, while the market capitalization of 16Q1 and 15Q4 Central Huijin Investment Co. was 16713 billion and 18486 billion respectively.