There is only one way for retail investors in China stock market to protect themselves: stay away from the stock market completely! Because the Shanghai and Shenzhen 300ETF index fund countries supporting stock index futures have planned to list in the Hong Kong market in the near future, mainland investors will not be able to participate in the transaction. This policy makes it possible for overseas institutions in the Hong Kong market to use funds as arbitrage tools, which objectively causes unfairness to all mainland investors and increases the risks of domestic investors. If overseas institutions jointly control China H shares, red chips and 300ETF listed in Hong Kong, it may lead to unilateral rise or fall of the mainland market, and may also provide tools for international hedge funds to indirectly control the mainland capital market. The consequences and risks will be immeasurable. The recent plunge in China stock market reflects the fear and anxiety of institutional investors about this policy.
In addition, according to industry sources, following the rapid relaxation of the foreign investment quota of QDII products of banks to US$ 21500 million, QDII investment rules of insurance companies will be issued soon, and the initial estimated quota will not be less than that of banks and fund companies. Today, when panic and bear market thinking are on the rise, this news will undoubtedly amplify the negative effects. Coupled with the intensive introduction of a series of austerity and suppression policies, such as over-expansion, raising stamp duty, announcing the investigation of illegal bank funds and cracking down on illegal information disclosure, it is conveyed that the China stock market can't go up any more, and everyone's only choice is to completely withdraw from this high-risk market. According to statistics, the profit of listed companies in 2006 was 389.2 billion yuan (even less A shares were outstanding). If the daily turnover in 2007 is 300 billion yuan, stamp duty is calculated at 0.3%, stamp duty (calculated at 240 days a year) is 432 billion yuan, and brokerage commission is calculated at 0.2% (legal 0.3%), totaling 288 billion yuan. If the daily turnover is 200 billion, the stamp duty will total 288 billion, and the brokerage commission will be 654.38+09.2 billion, totaling 480 billion, which still exceeds the total profits of listed companies in 2006. If the daily turnover is 654.38+05 billion yuan, the stamp duty will total 265.438+06 billion yuan, and the brokerage commission will total 360 billion yuan, reaching the annual profit of listed companies in 2006. The article said that because the essence of stock market investment is to share the income of listed companies, listed companies are the cornerstone of the stock market. If the total income of listed companies is not enough to make up for stamp duty and brokerage commission, then the bottom line of this stock market, even the "zero sum game", should be "negative sum game". In the "negative sum game", in theory, every investor can't share the profits of listed companies, and "bubble profits" can only be realized by blowing bubbles, cheating and hurting small and medium investors. At present, the total deposit in the securities accounts of mainland investors in China is only 1 trillion, which means that it will all be collected into the state treasury in less than two years. All the participants are here to give away money for free. It's like a street table tennis venue, where two people who take part in a table tennis match fight to the death, and the stall owner who puts the table tennis in the final profit must be. The money in both hands will definitely fall into the pocket of the stall owner. Where is this market with investment value? In order to control the stock market, when the savings deposits did not come out, the management authorities incited everyone to say that China's economy was developing at a high speed, and only through the securities market could the fruits of economic growth be fully shared. Now, some of them are really out, and they are worried about the so-called stock market bubble. They have to let retail investors pay the bill behind closed doors and use their pensions and hard-earned wages to bear the bubble created by management. The article asserts that the shortsightedness of China's securities management authorities will destroy the whole capital market. The incompetence of the management authorities may still be the real reason why the stock market has been hovering around 3000 points for more than ten years. In fact, China's economic development has never kept pace with the stock market. Attached to the original text: After the rebound, it will usher in a more horrible decline. 1. As a supporting fund for stock index futures, the fund countries of Shanghai and Shenzhen 300ETF index have planned to list on the Hong Kong market in the near future. Mainland investors will not be able to participate in this transaction.
2. According to industry insiders, following the rapid relaxation of the foreign investment quota of QDII products of banks to US$ 265,438+500 million, the QDII investment rules of insurance companies will be promulgated in the middle of this month at the earliest, and the initial estimate is that the quota will not be less than that of banks and fund companies. Now we have finally found the real reason for the continuous market crash. Many ordinary investors may not know the directional significance conveyed by these policies and the significant negative impact on the long-term development of the mainland securities market. Let me analyze and interpret the first message first. As an index fund matching with stock index futures, Shanghai and Shenzhen 300ETF should be a yardstick to reflect the trading level of Shanghai and Shenzhen markets in the Mainland. The management's explanation that domestic investors are not allowed to enter the market is that the Shanghai and Shenzhen stock markets are two completely separated and independent trading markets, and there are obstacles in fund settlement. Moreover, the current T+0 trading system in Hong Kong market can better cooperate with the upcoming stock index futures. Some analysts commented that this policy objectively caused unfairness to all mainland investors and increased the risks of domestic investors, because it is entirely possible for overseas institutions in the Hong Kong market to use the fund as an arbitrage tool, leaving domestic investors in a helpless situation. If overseas institutions jointly control China H-shares, red chips and 300ETF listed in Hong Kong, it will probably lead to unilateral ups and downs in the mainland market, and may also provide tools for international hedge funds to indirectly control the mainland capital market. The consequences and risks will be immeasurable. To some extent, the market crash reflects the fear and anxiety of institutional investors about this policy. The second news is that the QDII rules of the insurance department will be issued around the middle of the year. If you are in a bull market, the market may be less sensitive to this policy. After all, the market is rich in funds and popular, but now people are worried and bear market thinking is gradually rising, and the news will amplify the negative effects. After the central bank announced the issuance of155 billion special government bonds, the market reaction seems to have eased. A series of austerity and suppression policies, such as over-expansion, raising stamp duty, announcing the investigation of illegal bank funds and cracking down on illegal information disclosure, convey a strong policy control language that the infield securities market can't go up any more and all market participants have no arbitrage tools to hedge their value. Therefore, everyone can only have the only choice, that is, the recent record high of the Hong Kong stock market has been stimulated by a series of favorable policies in the Mainland. Although it has been clarified that special government bonds will not affect the mainland stock market, it is a normal economic means. However, a country's capital market is interconnected, and it is definitely not that two countries go their own way. Obviously, it's hard to convince everyone that it doesn't matter. Think about it, even if special government bonds are not issued to ordinary investors and enterprises, but to banks, because their interest level is higher than savings, banks will definitely actively subscribe. This amount is equivalent to raising the bank deposit reserve ratio by 5%, instead of the previous adjustment of 0.5%. Will it constitute a disguised withdrawal of stock market funds? Banks accept savings deposits and then lend. If the loanable amount is reduced, the proportion of corporate loans will inevitably decrease, the financing threshold of listed companies will increase, and the turnover will be difficult, which will inevitably impact the sustained growth of listed companies' performance. In addition, although the bank's stock of funds entering the stock market has been announced, how much has not been found out? Find some or just nine Niu Yi hairs. How much illegal bank funds are involved in the market may always be a mystery. Will a series of radical measures have no effect on the stock market?
What is even more ridiculous is that the Shanghai and Shenzhen 300ETF index funds can only be traded in the Hong Kong market because they cannot be settled in the two mainland markets. The reform and improvement of the capital market is a top priority for management. With the introduction of new financial products, the domestic capital market does not have the conditions. Your management should improve it and create trading environment and conditions. Don't just let the right to speak fall by? When I give my hand to someone else, it's just a knife. I'm a fish. This policy can't help but remind people of Chiang Kai-shek's policy of "settling down first when you are busy outside" in War of Resistance against Japanese Aggression. In order to prevent the high stock market from hitting the bank (the famous economist Liu Jipeng called it the eldest son), he formulated desperate policies to suppress the stock market (Liu Jipeng called it the youngest son)? The previous policy of increasing stamp duty once again exposed the short-sighted behavior of management. I want to ask, has such a major policy been accurately calculated and widely consulted by economists? Have you gone through legal hearing and consultation? So eager to crow in the middle of the night? When can China's economic development get rid of the "three beats" cycle: one on the head, that's settled, and the other on the chest, I am responsible; Pat your thighs three times and pay your tuition? According to statistics, the profit of listed companies in 2006 was 389.2 billion yuan (even less A shares were outstanding). If the daily turnover in 2007 is 300 billion yuan, stamp duty is calculated at 0.3%, stamp duty (calculated at 240 days a year) is 432 billion yuan, and brokerage commission is calculated at 0.2% (legal 0.3%), totaling 288 billion yuan. If the daily turnover is 200 billion, the stamp duty will total 288 billion, and the brokerage commission will be 654.38+09.2 billion, totaling 480 billion, which still exceeds the total profits of listed companies in 2006. If the daily turnover is 654.38+05 billion yuan, the stamp duty will total 265.438+06 billion yuan, and the brokerage commission will total 360 billion yuan, reaching the annual profit of listed companies in 2006. From these vivid data, it is not difficult to see that the basic marketization conditions seem to be far away from a market-oriented game under the principle of "three publics". Because the essence of stock market investment is to share the profits of listed companies, which are the cornerstone of the stock market, if the total income of listed companies is not enough to make up for stamp duty and brokerage commission, then the bottom line of this stock market, even a "zero-sum game", should be a "negative-sum game". In the "negative sum game", in theory, every investor can't share the profits of listed companies, which can only be achieved by blowing bubbles, playing tricks and deceiving small and medium investors. Where can the value investment foundation advocated by management be realized? At present, the total deposits in the securities accounts of investors in the two markets are only 1 trillion, which means that they will all be collected into the state treasury in less than two years. All the participants are here to give away money for free.
It's like a street table tennis venue, where two people who take part in a table tennis match fight to the death, and the stall owner who puts the table tennis in the final profit must be. The money in both hands will definitely fall into the pocket of the stall owner. Is this a market with investment value? This is not forced prostitution, forcing everyone to fight stupidly. What is this? There is also the bubble problem that management has been criticizing. What is the standard of foam? It is nothing more than a question of price-earnings ratio. The IPO is more than 30 times, and the H shares of returnees are as high as 1.25 times. The listing was frantically pulled by institutions 1 times. Do retail investors have to pay the bill? Use your pension and hard-earned salary to bear the bubble created by management? What's wrong with being forced to take part in a fight and buying your stock and being beaten!
In order to control the stock market, the management authorities incited everyone to say that China's economy is developing at a high speed, and only through the securities market can we fully share the fruits of economic growth. Now, some of them really bite people behind closed doors. This is not the modern Ye Gong Long Hao. What is this? When the stock market really has a big adjustment, it is still flickering, saying that the stock market adjustment will not change the rising pattern of the bull market. Is the foundation of the bull market still there? Nothing more than continuing to stabilize small and medium-sized retail investors. Don't leave. After my eldest son safely withdrew, the market fell beyond recognition. After a cycle, I fooled retail investors into this trap. Do you think anyone will believe when wolves bark more? The short-sightedness of the management authorities will destroy the whole capital market, which may be the real reason for the incompetence of the authorities, leading to the stock market hovering around 3000 for more than ten years. In fact, China's economic development has never kept pace with the stock market. Since the opening of 9 1, China's economy has been growing at a high speed of nearly double digits every year. Take Shanghai as an example. At 199 1, starting from 100. Should the corresponding compound exponential growth reach 998 in 2005? This is not self-deception. What is this?
Me: When we just lived a life of food and clothing, when we just bought a house with a bank loan, when we just saved some coffin books and books in the bank. All of a sudden, it was like a dream day trip, drifting with the wind and returning to 10 years ago overnight. If ordinary people in China don't buy stocks, how can they avoid inflation becoming a policy tiger? This is the characteristic of China, and I'm at a loss!