The Reform Of State-Owned Enterprises Is A Long Way To Go, Through The Backdoor Reorganization Of Stock Market.

Recently, the backdoor restructured stocks have been hit hard, and the market has returned arbitrage to bulk stocks in batches.

However, it must not be "one size fits all".

The reorganization of backdoor assets is the eternal theme of stock market in all countries. Especially in China's stock market, the reform of state-owned enterprises has a long way to go, and is in the ascendant.

Backdoor reorganization, cross industry restructuring.

First, the reform of state-owned enterprises is an important measure to implement the reform of supply side structure. The two key measures of supply side reform are the administrative system and the reform of state-owned enterprises.

Over half of China's stock market value and 1/3 of listed companies are state-owned enterprises.

In the third Plenary Session of the 18th CPC Central Committee, in the guidance of the reform of state-owned enterprises, the state-owned enterprises of competition should be cleared out.

A large number of state-owned enterprises have to withdraw from the stock market and withdraw from the market.

These ones here

It is impossible to drop the market directly.

Otherwise, investors, countries and markets can not afford stability.

Some experts suggest learning the US, stipulate a number of performance shares every year, which do not meet the listing requirements.

This is absolutely not feasible.

In order to alleviate the difficulties of state-owned enterprises, the traditional state-owned enterprises were listed on a large scale.

Today, the two way out for reform is to directly withdraw from the market, and to restructure the other, so that hi-tech enterprises can change the old state-owned enterprises through reorganization.

The two method will produce different effects.

As long as the common sense of investors and management will choose to speed up the state-owned enterprises, including private enterprises, in the stock market asset restructuring this road.

Second, industrial pformation and structural optimization need cross industry.

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Recently, there are rumors in the market that four industries, namely, film and television, Internet finance, games, VR growth and reorganization, must be limited.

If the CSRC really does, it will bring more negative effects than disadvantages.

In accordance with the statutes and regulations, every case in which the regulations should be increased or restructured should be combating, and the inter industry restructuring should not be restricted.

This is because most of the listed companies in China are traditional industries, such as steel, textile, cement, coal, chemical industry, manufacturing and so on.

Now, it is necessary to restructure new assets through fixed new shares.

It is not always possible that steel companies will be injected into the iron and steel business and will pform to other industries.

It is impossible for all traditional listed companies to be pformed into high-tech entities. The reorganization of assets such as film and television, Internet finance, games, VR and so on, as long as it is in conformity with the securities law and other statutes and regulations, there is no reason for special restrictions.

If a listed company increases the amount of information, discovers the new information and discovers the false information, the illegal behaviors such as packaging, listing and fraud shall be disposed of according to the law, and no matter what industry should use the same legal norm.

Third, it is not investors who need education.

There are often comments that Chinese stock investors are immature, specializing in small cap stocks and poor performance stocks, making the price of blue chip stocks not rising and unreasonable price structure.

In fact, investors do not need lectures and education. Whether they earn money is the best education.

China's stock market makes big money in the primary market, and the basic institutional contradictions in the two tier market generally lose money, so that the investors who survive will naturally choose the characteristics of Chinese style stocks.

To change, we can start from the system reform such as issuing and reducing holdings, rather than criticizing Chinese investors for speculating.