China's stock market started the second birthday of the qualitative changes

 China's stock market started the second birthday
Zhang Lidong
qualitative change in the weekend, the Central Radio Voice of the host economy Chi Chun asked me if the stock market in China say two decades birthday wishes what would you say? My The answer is, if the first decade it was a financier, to say, I hope it can become all the participants of the When life is indeed necessary to go on a good think about what Gairuhezou.
this week, the market on margin trading and stock index futures favorite topic. In fact, whoever who is no longer important after all, it is important, regardless of is the spot market or futures market, our stock market have undergone a qualitative change. just say it is the addition of a new species or not, for trading on the strategic level it is upgrading, not change its far-reaching impact of China stock market.
SSE was created in 1990. Over the past two decades, investors have been our only bet on price movements in one direction, that is up. We always look empty but not really short, In addition to voting with their feet. shorting benefits no one, therefore, continue to enlarge the bubble is, until their own could not endure, then that is a huge collapse. to give an example the last three years, China's stock market soared in 2007 to 96% , 2008, the stock market plunged 65%, followed in 2009, jumped 80%.
management strongly during smooth fluctuations despite the care and thought, but still can not escape the fate of this cycle repeated.
must admit,UGGs, short selling and short of that will not change despite the emergence of fluctuations in the stock market cycle, but it changed the single market can not get rid of the In any case, the market will always be someone making money mm it is indeed a new chapter, a new starting point.
downside risk is hedged, but finally on the afternoon of the different views can be fully released and are staggered in the long and short views practical tools can be used to carry out transactions, the market valuation of stocks will be greatly enhanced, the central market price will be more clear,UGG boots, this is the first merit.
In addition, financing, and to see more of that, brought to the market leverage ratio is improved. before the Chinese stock market has more or less part of the credit transaction components, but are in a gray area, policy risk and market risk is significant. and the introduction of margin trading to enhance the leverage rate, and in my view, moderate leverage is a sign of the maturity of the market. to enhance the level of operating leverage and regulatory requirements to enhance the level, and its direct benefit is to enlarge the size of transactions, enhancing the level of activity. more conducive to risk appetite and conservative investors separates. Having said that to sentence the way,Bailey UGG boots, the two had been raised before,cheap UGG boots, in addition to brokerage firms, the margin of the body can also include those who prefer long-held robust Chinese market, investors mm not a lot of people have been claiming to be Fun but not for it?
out side city, improve leverage. These two benefits may be two decades of management to the Chinese stock market the biggest birthday gift. and these two gifts, it is a qualitative change in this market started.