www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Opinion

Rekindle the stock market

(China Daily) Updated: 2014-05-14 07:25

The timing of the authorities' latest promise on financial reforms might have made it look like a stopgap effort to boost the country's sagging stock market.

But such a blueprint for capital-market overhaul is not, and should never be, about the short-term performance of Chinese shares.

Instead, by boosting regulatory transparency and widening market access, the significance of the new reform guidelines should be evaluated by their long-term role in rendering the dysfunctional domestic stock market a really working one.

Rekindle the stock market
Rekindle the stock market
On Friday, the State Council, China's Cabinet, unveiled a series of guiding principles for reforming the country's financial markets.

At a time when the benchmark Shanghai Composite Index has been teetering on the verge of again dropping below the psychologically important threshold of 2,000 points, a piece of confidence-lifting news is certainly more than welcome.

By the end of last week the index had lost a total of 3 percent since the start of the year, following a decline of 6.8 percent for the whole of last year.

Worse, late last month, the securities regulator signaled that it was ready to reopen the floodgates of new share sales following a two-month pause, which has since weighed heavily on already fragile investor sentiment.

Under such circumstances, it is natural for investors to read too much into any policy move that sounds as positive as they expected.

Not surprisingly, China's stock market on Monday registered a 2-percent rise, the biggest gain in seven weeks, on those promises of ambitious financial reforms, in spite of the lack of details.

Indeed, the government must be eager to boost the domestic stock market, which has basically failed to work as either a barometer of the national economy or a system to reallocate market funds for greater efficiency. While the Chinese economy has led the world with the strongest recovery, the country's stock market has kept ranking among the worst worldwide.

If such a divergence between the performance of the national economy and the stock market is allowed to expand further, it is not likely that the domestic stock market will be able to play a positive role as its counterparts in many developed countries have done in supporting the growth of domestic consumption.

Therefore, more important than starting a fresh rally right now, the new guidelines, which envision a multitier capital market by 2020, should focus on preparing a highly efficient and inclusive stock market to best serve the country's ongoing transformation toward consumer-driven growth.

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 国产a级三级三级三级 | 韩国精品一区二区三区在线观看 | 免费国产综合视频在线看 | 日韩免费在线 | 又摸又揉又黄又爽的视频 | 日韩美女视频一区 | 欧美成在人线a免费 | 国产精品九九 | 久久w5ww成w人免费不卡 | 狠狠五月深爱婷婷网 | 黄色香蕉视频 | 九色91 | 免费播放巨茎人妖不卡片 | 久久国产片 | 亚洲在线免费视频 | 激情五月色播五月 | 在线免费看一级片 | 国产亚洲高清在线精品99 | 国产精品久久久久9999小说 | 国产成人亚洲精品无广告 | 九九精品99久久久香蕉 | 国产成人性色视频 | 欧美黄成人免费网站大全 | 亚洲人成高清 | 日韩欧美视频一区二区在线观看 | 风流慈禧一级毛片在线播放 | 国产精品亚洲一区二区三区 | 国产在线精品一区二区 | 免费亚洲黄色 | 国产美女一区精品福利视频 | 202z欧美成人 | 在线91精品国产免费 | 久草综合在线视频 | 欧美一区二区三区不卡免费观看 | 香港全黄一级毛片在线播放 | 欧美人体在线 | 91精品国产手机在线版 | 亚洲综合色一区二区三区另类 | 欧美特黄三级成人 | 黄色网址在线免费观看 | 久久院线|