God-level Trader of Rebirth

Chapter 461 Treating the symptoms and the root causes

Baijing, X City District, No. 19 Financial Street.

People who often invest in stocks should be familiar with this address.

If you are still confused, you have definitely heard of the name "China Securities Regulatory Commission". Its full name is "China Securities Regulatory Commission".

The main role of this organization is to conduct unified supervision and management of the domestic futures market and securities market in accordance with regulations and authorizations.

For investors, the China Securities Regulatory Commission has another profound impression.

That is, whenever there is a problem with a certain stock or a certain company in the market, the China Securities Regulatory Commission will punish the company, and relevant information about the punishment will be reported to the market and the public in a timely manner.

Administrative punishment is their very important responsibility.

In addition, the China Securities Regulatory Commission has another biggest role, which is the supervision of issuance.

In the stock market, there are many new stocks being issued almost every few days.

During the listing and issuance of these new stocks, all materials, regulations, and procedures are reviewed and supervised by the China Securities Regulatory Commission.

They are the veritable managers of the entire Chinese financial industry.

The headquarters of the "China Securities Regulatory Commission" is located in the silver-gray Fukai Building. There is nothing special about it. Even the main entrance has only a very simple electric retractable door, so ordinary people can just walk in and take a look.

But today, the security of the building was suddenly upgraded.

Since [-] p.m., several uniformed security personnel have blocked all entrances and exits of the building, preventing people from entering or exiting at will.

It was around this time that Chen Jie came to the China Securities Regulatory Commission.

As soon as he entered the reception hall on the first floor, he saw a middle-aged man in his 50s walking towards him from a distance: "Hahahaha, Chen Jie, you didn't even call me when you came to Baijing, right?" It’s not that you think my level is too low and you don’t want to deal with it!”

When Chen Jie saw it, it turned out to be Li Jiange, the chairman of CICC, and he greeted him with a smile: "Director Li, please don't say that. I'm afraid it will disturb your work. I'm really sorry!"

When the two met, they both stretched out their hands, held each other's hands and moved them up and down, as if they were old acquaintances. They chatted nonsense for a few minutes, but did not get to the main topic.

The two chatted and laughed. Under the guidance of the receptionist, they passed through the reception desk at the entrance of the first floor and took the elevator directly to the eighth floor. After passing a corner, they could see two copper-plated mahogany doors, which were obviously for the meeting. room.

There were faint human voices inside, and it seemed that there were quite a few people who had arrived early.

Chen Jie adjusted his mentality slightly, smiled lightly, and stepped into the conference room with Li Jiange.

He briefly exchanged greetings with everyone who arrived first, and then, under the guidance of the staff, sat down at the oval conference table in the center of the conference room.

When he first came in, he noticed that there were about twenty people in the conference room.

Five or six of them were sitting opposite him, and the rest were scattered on chairs against the wall, forming a ring that just happened to wrap him almost in the middle.

Judging from the introduction before the meeting, the people present today are basically representatives of leading securities firms and fund institutions such as CICC and CITIC. There are so many people that he can't remember them all.

However, among the group of industry insiders, there seemed to be three or four people from other systems mixed in. It seemed that today's meeting was not that simple.

Chen Jie glanced at his old acquaintance Wang Guobin, and representatives from several Donghai City public funds nearby also smiled and nodded at him.

After everyone was seated, Shang Fulin's face became a little serious, and he asked a pointed question straight to the point:

"Do you think the stock market is in the end now?"

After this question was raised, the originally noisy conference room suddenly became extremely silent.

After the stock market hit a peak of [-] points in October last year, it has plummeted all the way to around [-] points in just half a year. Many stocks that had experienced huge gains in the past have had their stock prices cut in half two or three times relative to their highest point. But now It seems that there is still no bottom.

Take Nanyun Copper as an example.Counting from the beginning of 2, it took only two years for the price to skyrocket from 97 yuan to 40 yuan, an astonishing increase of more than [-] times.

Even if its stock price has dropped to 20 yuan now, it still has a tenfold increase!

Who dares to tell the truth?

Although the Shanghai Composite Index has fallen all the way from [-] points to now, many securities research institutes have issued similar bullish comments such as "the characteristics of the bottom are obvious, the price depression has appeared, and you must not miss the opportunity to buy the bottom."

But that is just to deceive investors, secretly they are selling stocks for their own business.

To put it on the table, there are still many stocks like Nanyun Copper on the market, and naturally they cannot reach the baseline of "value return" in the minds of most institutions.

Even if there are a small number of institutions that believe that the market has almost adjusted, their power is still too small compared to the size of the entire stock market, and they are simply unable to form a joint force in the market.

A real market bottom is impossible without the participation of a large number of major institutions.

Seeing that no one was willing to express his position, Shang Fulin seemed to have expected it. He continued: "The current stock market continues to decline, which not only seriously affects the issuance and refinancing of new shares, but also has a huge impact on investors' confidence. Trading volume continues to shrink."

"Therefore, we have decided to adjust the stamp tax rate from the current 3% to the original 1%!"

coax!
As soon as he finished speaking, everyone in the conference room started to stir.

The representatives of the institutions participating in the meeting had excited expressions on their faces.

I didn't expect such big news to come up.

Since the establishment of the stock market, the stamp duty has been adjusted downward twice. Each time, the market reaction was very strong, and the market also experienced rising prices to varying degrees.

This is really good news for both investors and securities institutions.

After all, the stock market continues to decline and investors have no confidence at all. Against the background of a significant reduction in trading volume, the brokerage business income of securities companies will inevitably be affected.

If this decline cannot be reversed.

Some smaller securities companies may even suffer losses as a result.

Because a large part of their income comes from commissions on stock transactions.

Although reducing stamp duty may not necessarily fundamentally reverse the downward trend of the market, it is definitely a shot in the arm for most investors.

It should not be a problem for them to temporarily return to the stock market and activate the capital market again.

Shang Fulin was very satisfied with everyone's reaction.

Regardless of whether this medicine works or not, let investors drink it first. If it still doesn't work later, just adjust it slowly based on market feedback.

This is also their consistent "way of response" when facing market crises over the years.

The atmosphere in the conference room gradually became warmer, and it seemed that everyone present was already used to this process.

There are small meetings for big things, and big meetings for small things.

A meeting like today's is mainly to serve as a notification and send a signal that "we attach great importance to it".

that's enough.

However, just when everyone thought that today's meeting was over, a somewhat abrupt voice rang out.

"I think that adjusting the stamp duty now will only treat the symptoms of the current market environment, but not the root cause. We might as well discuss it first and suspend the IPO, which is more practical."

(End of this chapter)