wot power leveling global - ANI

The 1th page: the stock market is not "expanding" bull market will come? 2nd page: lang: why are stock market crash of the 3rd page: stock market should be based on the new deal investor protection page 4th Yu Fenghui: a clean of the stock market is best for investors to guard the 5th page: "bull market opening" recognized degrees why do not the 6th page: Joe Zhang: global, DanielDo you want to come for this year's capital markets, the "expansion" is no longer the SFC's hard, reform of the capital markets shift focus from the secondary market to the market. New share distribution system reform in the Government work report this year: "sound system perfect the IPO and withdrawal system, enhance investor returns and rights protection", "positiveDevelopment of the debt market ". 　　All in all, this year's presentation of the report on capital market, less words, occurring later, alternative, but has profound policy implications. To enhance investor returns and protection of the rights enshrined in the Government work report, this is the first time and get rid of the "expand the scope of direct financing" the inscription, "new stock issue reform" top, showOf care management to capital market this year. 　　This means that, for this year's capital markets, the "expansion" is no longer the SFC's hard, reform of the capital markets shift focus from the secondary market to the market. An interesting historical laws is, in his previous report on the work of the Government, who appeared in "expand the scope of direct financing" years, stock market performanceAre not very good, 2004 year, 2010, 2011, who did not appear "to expand direct financing" words of the year, stock market performance is more optimistic, like 2005, 2006 wot power leveling, 2009. Appear in the report "expand direct financing", the Government about the stock market is more optimistic, belief that the market can afford to support realEconomic burden in the stock market "expansion" in the context of, when stock market performance is often less than expected; if not, the report if not "expand direct financing", shows that the Government's stock market took a caring attitude, "expansion" is not as hard targets in case, when stock market performance is often higher than expected. According to this law, is removed "raise directly intoFunding proportion "means that the stock market has good performance this year? 　　In my view, while removing "grow" on the stock market this year is good, but it also means "grow" policy on the price corresponding to disappear, and stocks of medium-and long-term trend is ultimately determined by the macroeconomic background. Capital markets this year "large capacity" abdication, actually embodies three changes in the macro-policies, Is the GDP growth target lowered; second "growth" to "steady growth"; and three is the lending capacity of the recovery of the banking system. 　　However, these three changes are detrimental to the stock market bull this year. Target downgrade economic growth, and not in the Government work report made in previous years "under construction" investment targets, means to maintain growth of capital investment requiredSeek will also be less; "growth" to "steady growth" changes, introduced this year similar to the 2008 massive stimulus policy was decided to reduce the possibility of, indirect financing growth in scale not only in narrow, but also on the capital market, "expansion" dependency reduced bank credit after two years of austerity and the rest, have begun normalizing feature, the banking systemLending capacity of recovery, capital market at the service of the real economy requires less urgent. All in all, even though the report does not mention "expansion" is bullish on equities, vigorously promoting reform will help to solve stock market ills, for the next Bull Xu Li, but stocks of medium-and long-term trend is ultimately determined by the macroeconomic background. Fall in the GDP growth target of macro-Background wot power leveling, stock's intrinsic value as China's economy cooling and lower, which determines the stock hubs or long-term move down. Determine the currency of share trading price index, far below the standards of the past few years, M2 target only 14%, taking into account the Central Bank adjusted M2 strict regulatory measures of statistical standards, and the continuous shadows such as foreign banks into the table tableSupervision, M2 actual levels may decline to literal fall more than 16% per cent. Could be viewed as being a-share basis did not have cattle this year.