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Cao Honghui, Director of Financial Market Research Office, Institute of Finance, China Academy of Social Sciences.
From 2005, after several years of suffering, China stock market finally ushered in a new life. However, whether this new student can evolve into a continuous and internal process of institutional innovation needs more profound changes.
In this change, the once secretive private equity fund expanded on a large scale and became extremely active, becoming an equal institutional investor with securities companies, securities funds, insurance companies and other institutions.
If we don't wear colored glasses, but objectively analyze and evaluate, especially discuss the position and role of private equity funds in the market from the perspective of long-term market development, we will find that as a pure market force, it has the characteristics and functions that the above-mentioned formal institutions do not have. It can be seen that it needs to be objectively contacted, tracked, counted, analyzed and monitored to standardize the market development.
According to the traditional concept of China people, what the government has not made clear cannot be done. However, private equity funds have broken this taboo. The so-called private equity fund is relative to the public offering of securities investment funds. Mainly invest in stocks, bonds, futures and other markets. It takes different forms, including securities consulting companies, wealth management studios, and even through issuing trust plans. ...