First, rapid and comprehensive implementation of the registration system. If A-shares quickly and comprehensively implement the registration system, the market will most likely fluctuate back to 2,600 points if this decision is made. The reasons are as follows: 1. Rapid implementation of the registration system across the city means that the entire A-share market will

A large number of new shares will be issued, and IPO issuance will be accelerated, directly draining the stock market.

The issuance of a large number of new shares will drain the stock market. Without funds, the stock market will inevitably plummet.

The listing of a large number of new stocks will bring great hidden dangers to the secondary market, such as speculation in new stocks, a wave of lifting bans, a wave of reduction of holdings, an increase in bubble stocks, an increase in the probability of thunderstorms, etc.

2. The rapid and comprehensive implementation of the registration system will not be favored by the market. The market will not pay for this registration system, which will cause market panic. Once panic occurs in the market, it will be difficult for the market not to fall.

The most typical example is the circuit breaker mechanism on January 1, 2016. The circuit breaker mechanism was triggered on the first day after it was implemented, causing the stock market to plummet; the circuit breaker mechanism was only canceled on the fourth day after it was implemented.

Here is a truth: the stock market system must be step-by-step, allowing the market to have a transition period and an adaptation period; if you want to eat a big fat man in one go, no matter how great the benefits are, they will become negative.

Second, it is an inevitable trend to gradually implement the comprehensive registration system for A-shares. If the market is slowly adapted to this registration system, the market will never fluctuate back to 2,600 points.

Because the gradual implementation of the registration system will allow market investors to adapt to this system and will not cause panic to the market.

Second, the registration system will be gradually implemented. Even if a large number of new shares are issued, the impact of new shares on the stock market will be gradually alleviated, and the negative impact of the registration system on the stock market will be gradually alleviated.

Therefore, the implementation of the registration system should be carried out step by step and slowly liberalize the registration system. This system can only succeed and cannot fail. Only in this way can it be more conducive to the healthy development of the stock market.

The most typical example is that the initial registration system on the Science and Technology Innovation Board did not cause a major market shock; the subsequent registration system on the GEM did not cause a major market shock.

Next year it can be on the small and medium-sized board, the Shenzhen Stock Exchange main board, and finally the Shanghai Stock Exchange main board. It is feasible to implement the registration system in this way and will not cause the stock market to plummet.