Liu Shiyu thanked the shareholders for 28 years and never gave up, but the stock market did not treat them well.

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Liu Shiyu thanked the shareholders for 28 years and never gave up, but the stock market did not treat them well.

2018-12-27 20:25:28 20 ℃

At the opening ceremony of the China Securities Museum held on December 22 this year, Liu Shiyu, chairman of the China Securities Regulatory Commission, said that thanks to the 28-year-old investors, they are not leaving. As far as the development of China's stock market has been in the past 28 years, it is indeed true that Chinese investors should be thankful for their 28-year history and the Chinese investors' success in the past 28 years.

How to evaluate Chinese stockholders? Some people say that Chinese investors are speculative speculators. Even many people attribute the instability of China's stock market to the fact that there are too many retail investors in China. Some people even ulteriorly propose to “go to retail” and find excuses for cutting up the “chives”. In fact, we should not break away from historical facts on how to evaluate the issue of Chinese stockholders. Because when the stock was just on the ground, most people didn't know what the stock was, so the stock was not issued smoothly. At that time, the stock issuance was to call on party members and cadres to take the lead in buying shares to support the economic construction of the motherland. Therefore, although I often heard people say that no one is using a gun to force you to buy stocks, from the beginning, everyone buys stocks in response to the government’s call and supports the economic construction of the motherland. Only after the stock went public, there was a money-making effect, and the number of people who fred stocks slowly increased. But everyone is still based on supporting the construction of the motherland. And the stock market is also the most investment-conscious group.

Unfortunately, the stock market did not treat these investors well. In the past 28 years, there have not been many investors who have been able to withdraw from the stock market. Most investors who have withdrawn from the stock market are carrying a scar, not only the loss of money, but also the heart is hurt. Although there are always investors who are entering the stock market, they have a glimmer of hope for the stock market. If there is no hope for the stock market, everyone will withdraw from the stock market, then the Chinese stock market will not play. Therefore, the Chinese stock market should indeed feel that the stockholders have never left in the past 28 years.

But just thanking is obviously not enough. More importantly, we must reflect on the introspection. Why did the 28-year stock market let the majority of retail investors lose money repeatedly, making stocks the most ruined occupation. Because the Chinese stock market is only a financing market, not an investment market. Of course, financing and investment are not antagonistic, and the two can be well unified. But unfortunately, the financing system in the A-share market is not healthy, and the financing system is more like a money-sharing system. When a company goes public, not only does the company have to raise funds, but it also needs to raise funds at a high price. It is endlessly financing, and the cash-out of shareholders who sell shares is more fierce than financing. The stock market has thus become a withdrawal of shareholders of restricted shares. machine. And all of this requires investors to pay for it. The interests of the shareholders have also been sacrificed again and again.

In recent years, the A-share market has been difficult to boost. In the final analysis, it is the result of the lack of confidence of investors in the stock market. There is a saying that confidence is more precious than gold. Therefore, as a stock market, it is indeed necessary to treat Chinese retail investors well. They are valuable wealth resources for the Chinese stock market. Those who don’t know this are not worth talking about the Chinese stock market. As for how to treat Chinese retail investors well, I have written special articles on this occasion, so I won't go into details here.