Duan Yu was not in the capital at this time, he went to Yulong County to Liu Zhifu and their company's situation for a field investigation, it should be said that the development prospects of maca planting are indeed very good, although the current market for fresh maca is not very good, but the price of maca deep-processed derivative products such as maca powder, maca lozenges, etc. is not low, and by the blow of the maca price crash, the situation of maca planting will inevitably be improved, the market will return to rationality, and the price of maca will inevitably rise steadily.

And Liu Zhifu is indeed a very shrewd entrepreneur, he plans to introduce imported maca deep processing production line, take advantage of the current low price of maca, hoard a batch of dried maca, make maca powder, maca lozenges and other maca deep processing derivatives and then export abroad.

At the same time, the Yulong County Government's support for maca planting is also quite large, Xu Zhimin identified the maca planting industry as one of the pillar industries of Yulong County's economic development, whether it is in the policy tilt or financial support is sparing no effort, Yulong County adopts the model of the company + growers, vigorously promotes maca planting, the planting scale has reached tens of thousands of acres, and the growers have reached tens of thousands, with an annual output value of more than 10 billion yuan.

However, Duan Yu does not think that Liu Zhifu's company has the conditions for listing, although Liu Zhifu's company has met the listing standards required by the Securities Regulatory Commission in terms of scale and hardware, but this is actually piled up in a short period of time through bank loans and government subsidies under the government intervention of the Yulong County Government. The overall quality of the company's employees is not high, although in order to pass the IPO review, Liu Zhifu hired several professional managers with high salaries, but the management level of a company is obviously not to hire a few professional managers can be improved at once, most of the key positions in the company are held by Liu Zhifu's relatives, most of his relatives are not highly educated, and some have not even graduated from primary school, including Liu Zhifu's own understanding of advanced management concepts is very limited.

In fact, this situation is widespread in many poor areas, in order to support the economy of poor areas, the state has opened a direct train for enterprises in poor areas to go public, and many local governments are in a hurry to achieve success, and they have forced up a number of enterprises that meet the listing standards, and even some companies have taken advantage of the loopholes in the policy to move the company's headquarters and registration to poor areas.

But these companies have only seen the benefits of the listing, but did not see the risk of the listing of the company, Xintai company is a typical example, before the listing of the Xintai company profitability is quite good, but because its management level has not been improved, after the listing has encountered a management bottleneck, affecting its sustainable profitability, and finally the company fell into a loss, which not only ruined the future of the enterprise, but also damaged the interests of investors.

In fact, the occurrence of this situation has its inevitability, the government support can improve the hardware and scale of the enterprise in a short period of time, but it leaves the hidden dangers in management, the development of the enterprise and the improvement of the management level are not synchronized, especially the management concept of the company boss has not changed with the listing, it is inevitable that the long-term planning of the enterprise after listing lacks a clear understanding, after obtaining financing through the listing, it will often produce the psychology of the nouveau riche, and it is easy to make the mistake of seeking big and fast in major decisions of the enterprise, so as to frustrate the development of the enterprise。

Listing is not the only way for enterprises to develop and grow, and it is not necessarily suitable for all enterprises, on the contrary, listing will increase the operating costs of enterprises and reduce the decision-making efficiency of enterprises, which is like you let a person who only has a primary school level go to college, and the final result may be completely ruined his road to success, and he may have been able to become an excellent worker or an excellent farmer.

It's a pity that many people can't see this, at present, there are still more than 600 companies in the Huaxia stock market waiting to be listed, some have been waiting for a few years, but still the original intention has not changed, its determination is staggering, some radicals believe that the current IPO approval system, the pace of listing is too slow, resulting in the IPO dam lake hanging, there is a long queue for IPO, the CSRC should be responsible for this phenomenon.

On the other hand, investors have been worried that the pace of IPOs is too fast, and there has even been a three-year expansion of the pseudo-market-oriented reform referred to by Qianfu, and now there are still three new shares issued every day beyond the record, resulting in investors complaining and complaining, questioning that the three new stock markets can support a few days a day.

This concern is not unreasonable, compared with Western countries, the pace of IPOs in the Chinese stock market is a little faster, and the total number of stocks listed in the US stock market in more than 100 years is only more than 5,000. In the Huaxia stock market, since the first batch of individual stocks were listed on December 19, 1990, it has only been more than 20 years, and the total number of listed stocks has reached more than 3,000. In this way, the average number of new listed companies in the US stock market is about 50 per year, while the number of new listed companies in China has reached more than 120, which is about 2.4 times that of the United States. Judging from last year, the United States completed 145 companies to raise 24.6 billion yuan, while a total of 227 companies in China successfully IPO last year, a new high in the past five years, and the financing scale was about 180 billion yuan, both the number of listings and the scale of financing were more than that of the United States.

It can be seen that the long queue for Huaxia IPO is not less new stock issuance, in fact, the IPO rhythm is already very fast, but there are too many companies waiting for the listing of the market, which makes the market simply unable to bear it, even if the market is issued at full capacity, it is impossible to wait for the listed companies to digest, and then there is a long queue, so the long queue of the IPO dammed lake can not find a problem from the IPO rhythm, let alone speed up the IPO rhythm to resolve the dammed lake, because at present, investors have been disgusted with the IPO rhythm, and choose to leave, according to statistics in December last year alone, there were 3000 investors with tens of millions of assets left, and the rise of the Huaxia stock market is once again at the bottom of the worldThe stock market has once again become a sad place for investors, and the per capita loss of investors in the stock market last year reached tens of thousands of yuan, which is undoubtedly a very huge blow to investors' confidence and is also very unfavorable to the long-term development of the Chinese stock market.

At this time, if we continue to accelerate the pace of IPO issuance, it is likely to completely destroy the market, completely knock investors down, and have a devastating impact on the stock market, so from Duan Yu's personal point of view, I hope to let the stock market recuperate, let investors' confidence slowly recover, and achieve sustainable and healthy development.

But Duan Yu also knows that this can only be his personal subjective wish, because the stock market is not only for investors, but also carries the function of the national economic development accelerator, in the rapid development of the national economy, when the stock market is urgently needed to play its role as an accelerator, Duan Yu's thinking will definitely be considered too conservative, not suitable for the chairman of the CSRC, from the perspective of time, it is impossible to allow Duan Yu to slowly boost market confidence, during his tenure, if the stock market can not get out of the trough as soon as possible and attract more funds into the stock market, then both superiors and ordinary shareholders will think that he is incompetent as the chairman of the CSRC, if it doesn't take long, it will be replaced.

This trip to the Jade Dragon made Duan Yu clearly realize this, looking at Xu Zhimin and Liu Zhifu and the hopeful eyes of those maca growers, he really couldn't bear to hit them, and at the same time he also admired Xu Zhimin, in Xu Zhimin's body he saw his own shadow back then, but he couldn't change his governance ideas because of appreciation and sympathy, this may be the biggest difference between working in the local area and working in the central government, working in the local area is naturally everything with local economic development as the first place, but in the central government, you need to consider the overall situation more。

After the inspection, looking at Xu Zhimin and Liu Zhifu, who were staring at him, Duan Yu sighed secretly and said: "I'm sorry, I think the current situation of Yulong Biology (the name of Liu Zhifu's company) is not suitable for listing ......."

Xu Zhimin and Liu Zhifu's eyes suddenly became very dim, and Xu Zhimin even said angrily: "Chairman Duan, this is unfair to us, you can't just look at it and veto the listing application of Yulong Biology, and you don't know much about the maca cultivation industry, and you don't know how ...... prospects for maca cultivation are."

Duan Yu listened to Xu Zhimin's words not only not annoyed, but his eyes lit up, he had been a headache about how to objectively assess the development potential of listed companies, only the company's own declaration of materials is definitely not possible, even if it is not fake, any company can write its own enterprise declaration materials are full of flowers, every family is amazing development potential, every family has the hope of impacting the world's top 500, such as the previous Xintai company, with many "honest and trustworthy enterprises" The honor is still recognized by the national authority, but such a company does not hesitate to falsify financial data and issue fraudulently in order to be listed.

Not to mention that the China Securities Regulatory Commission (CSRC) cannot have the energy to conduct on-site inspections of every listing applicant, even if it sends people to conduct on-site inspections, due to the lack of professional understanding of the industry in which the company is located, it will only see the surface and appearances, and it is difficult to provide truly objective evaluation opinions.

However, Xu Zhimin's words just now made Duan Yu have a new idea, that is, to introduce industry jury in the review of enterprise IPO, so that professionals in the industry where the applicant company is located can participate in the review and provide professional review opinions, so as to avoid enterprises in the industry that do not have development potential or are not honest to mix, in order to ensure fairness, you can establish an industry jury talent pool, and use random selection to select industry jury, so as to ensure the objectivity of the evaluation of the listed company to the greatest extent possible.