在线国产一区二区_成人黄色片在线观看_国产成人免费_日韩精品免费在线视频_亚洲精品美女久久_欧美一级免费在线观看

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: 在线不卡视频 | 国产精品毛片久久久久久久av | 国产电影一区二区三区图片 | 国产小视频在线免费观看 | 国产精品二区三区 | 国产又色又爽又黄 | 国产一区二区三区av在线 | 一级片手机免费看 | 理论片一区 | 在线免费观看黄av | 中文字幕亚洲欧美 | 9uu在线观看 | 美日韩在线 | 欧美午夜精品一区二区三区 | 久久成人国产 | 成人亚洲视频 | 麻豆精品久久久 | 欧美爱爱网 | 91国内外精品自在线播放 | 欧美在线播放一区 | 精品影院 | 国产一区二区久久 | 91高清视频在线观看 | 一级色网站| 色综合色综合网色综合 | 久久久久国产精品 | 久久av网址| 国产精品精品视频一区二区三区 | 国产真实乱全部视频 | 在线观看免费毛片视频 | 日韩天堂| 综合一区二区三区 | 日本涩涩网站 | 欧美xxxx色视频在线观看免费 | 天堂一区二区三区四区 | 久久久www成人免费无遮挡大片 | 国产精品三区在线 | 亚洲国产成人在线 | 欧美在线播放一区二区 | 国产一区二区三区免费 | 久久亚洲精品国产一区最新章节 |