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
Opinion / Editorials

New chairman must continue along reform path for market

(China Daily) Updated: 2016-02-22 07:05

New chairman must continue along reform path for market

The headquarters of China Securities Regulatory Commission in Beijing, July 7, 2006. [Photo/IC]

Perhaps the stock market index will rise today following the news over the weekend that the head of China Securities Regulatory Commission has been replaced.

Xiao Gang became chairman of the CSRC in March 2013, when the Shanghai Composite Index was around 2,200 points. After three tumultuous years, especially the stock market rout last summer, he is being replaced by Liu Shiyu, the former chairman of the Agricultural Bank of China, with the market index 2,800 points at the close on Friday.

Whether the index goes up or down on the news, it will only be temporary. A change of CSRC's boss will have no bearing on the long-term performance of the market.

What the CSRC will have to do now is learn the lessons of its past reform attempts, the unsuccessful and the successful, and the ones that were sabotaged by officials now facing corruption charges, and take more effective measures to establish a healthy capital market.

The change of chairman must not, most importantly, result in a long pause in the reform process, especially at a time when the country is undergoing an important transition, and the many inevitable changes that entails for listed and would-be listed companies in the world's second-largest economy.

The domestic A-share market is responsible for facilitating this historic change. Its role must be protected by a just and effective regulatory power that can be held accountable to international and domestic investors.

China's soon-to-be-launched 13th Five-Year Plan (2016-2020), pending the approval of the National People's Congress in March, will represent the largest amount of capital expenditure that the nation is ever likely to make, and result in many new corporate entities, such as more service providers.

The CSRC must continue policing the market and crack down on irregularities with greater force, whatever listing practice it adopts. This should be the first priority for its new chairman. Having said this, it must be pointed out that being China's chief stock market regulator is also a visionary job.

China's domestic stock market is a young and imperfect market in an economy that needs rebalancing. The CSRC must demonstrate its understanding of reform by highlighting its strong points and avoid playing up its weak points.

It must handle relations with retail investors (the largest group of the kind in the world), and learn the proper skills to guide them to rationality. And it must set an example, when necessary, by equally applying the laws to majority shareholders in the State and private sectors so that it can earn the trust it needs.

Most Viewed Today's Top News
...
主站蜘蛛池模板: 九色porny真实丨国产18 | 欧美高清另类自拍视频在线看 | a黄视频| 最近手机高清中文字幕大全7 | 日本在线亚洲 | 老司机久久影院 | 日本一道免费一区二区三区 | 正在播放亚洲一区 | 亚洲久久久久久久 | avove在线播放 | 九九视频只有精品六 | 日本一在线中文字幕天堂 | 亚洲午夜成激人情在线影院 | 成人在线免费网站 | 成人在线第一页 | 久草福利资源网站免费 | 99国内视频 | 91精品国产91久久久久久青草 | www夜色| 99视频在线观看视频一区 | 香焦视频在线观看黄 | 一本久道久久综合中文字幕 | 一级做a爱片特黄在线观看免费看 | 成人a免费α片在线视频网站 | 岛国片欧美一级毛片 | 欧美性色网 | 国产舐足视频在线观看 | 国产高清在线视频 | 国产精品秒播无毒不卡 | 精品一区二区三区视频在线观看 | 青青影院一区二区免费视频 | 美女流白浆网站 | 精产网红自拍在线 | 欧美一级片免费观看 | 久久久久爽亚洲精品 | 成人免费看黄网址 | 日本一级特黄aa毛片免费观看 | 又粗又爽又色男女乱淫播放男女 | 在线观看亚洲精品国产 | 久久国产免费观看 | 国产精品88 |