综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

Opinion / Editorials

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.

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.

New type of urbanization is in the details
...
瑞丽市| 四会市| 上饶县| 延边| 昌都县| 疏勒县| 乡城县| 松溪县| 西城区| 兴安县| 稷山县| 铜梁县| 晋州市| 昌乐县| 和硕县| 庆元县| 武胜县| 垣曲县| 青阳县| 双牌县| 庆城县| 温泉县| 库尔勒市| 桐柏县| 江北区| 桑植县| 紫金县| 大冶市| 烟台市| 镇赉县| 巴里| 循化| 克山县| 平和县| 山西省| 和田县| 滁州市| 潮州市| 临夏县| 辽宁省| 安乡县|