Wu Xiaoqiu: "Thirteen Five" late or have a new bull market

Updated: October 20, 2015  Views: 35

China and the World Economy at Tsinghua Forum 25 seminar recently held with the Institute of Finance and Securities Institute of Renmin University of China Professor Wu Xiaoqiu [microblogging] pointed out, in the short term A-share darkest period is over, however, If we do not have the ability to absorb the lessons of the future there are more dark disaster.

Wu Xiaoqiu, we must go the lever in the market, to optimize the lever, with funding to be cut off. In 2008 a major lesson of the financial crisis is going to deleverage, or call deleveraging. In addition, there are many reforms, including program trading, including the improvement of various trading system, including the relationship between derivatives and cash markets. Derivatives must consider the spot market, there is an arrangement between the trading rules and trading systems. Our regulatory authorities such a major problem not study, I was very confused. What we lack most is it? sorely lacking is reflection, after reflection on how to make the original vulnerability, we basically do not know how to reflect on how to make it It is our biggest flaw.

Logically speaking, there will be development of the Chinese market. China's stock market does not develop, I do not know what development. Risk to our stock of financial assets accumulated more and more serious, I think this is the core of our reform Financial core of the reform is to create a mechanism to flow up the stock of financial assets, but also to the risk of flow together, do not let it settle down. So in this sense, the capital market must have hope.

Wu Xiaoqiu considered late 'Thirteen Five' plan may have a new bull market. After a crisis, unless it has a particularly good repair, like the United States in 1987 to repair only a year, then there is a glorious 10 years of slow cattle. But it is premised on economic restructuring, industrial transformation success. If our future and present state of the economy, economic structure, no change, or is difficult to support the real stock market boom. US after Black Monday in 1987, there are two Something support its long bull later, one is industrial transformation, is a very sophisticated monetary policy.


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