"There is no separation between government and enterprise, property rights are not clear, rights and responsibilities are unclear, constraints are weak, and vitality is insufficient!

Only pursue speed, not quality, contrary to economic principles, blindly do fast!

Listing is a circle of money, supervision is equivalent to fictitiousness, punishment is equivalent to scratching the itch of the boots, and the low cost of illegal crimes is rare in the world!

Follow the rise and not the fall, the bear is long and the bull is short, the dealer is rampant, and insider trading is rampant!

Before the listing, the profits are high, everything is good, and the face changes immediately after the listing, the additional issuance is lost, and the story is told to the chicken feathers, and the iron rooster that never pays dividends is low, and the jokes of one win, two draws, and seven losses can be regarded as a guideline, which is ridiculous? Pathetic or pitiful?"

One word shocked the audience.

Liu Lao frowned, Secretary Tian was panicked, Director Wang was angry, and Li Tingli was dumbfounded!

Taking everyone's reaction into his eyes, Fu Zhengyi picked up the teacup, took a sip, and the corners of his lips raised. "Well, I also know that our financial market has been established for a short period of time, and the initial purpose is to help state-owned enterprises get out of trouble, not to give investors a return according to the principles of basic economics. However, the problem is that after so many years of reform and opening up, we are working hard to develop foreign economic and trade cooperation, we are working hard to create the image of a great power, we have joined the WTO, we have carried out economic and trade cooperation with foreign countries in accordance with standards, and we are bringing in and going out according to other people's standards, but why do we still have to develop the financial market with outdated and backward concepts? Could it be that the cliff-like collapse and the market value of hundreds of billions of yuan have come to naught cannot arouse vigilance?

Director Wang couldn't help it. "Mr. Fu, these shortcomings you mentioned do exist, but the problem is a problem in terms of system and supervision, and there is no way to solve it for large state-owned enterprises that are in urgent need of funds to get out of trouble......

"Why can't we solve it? From the very beginning, the reduction of state-owned shares was hastily formulated and urgently promulgated, resulting in a sharp drop in the stock market and a long bear road, the most basic financing function of the financial market has been lost, and the people's hard-earned money has been reduced to nothing, and the people are ...... in mourning."

Director Wang's face sank. Once the problem of different rights to the same shares is resolved, the stubborn disease that has long plagued the development of the stock market will no longer exist! This will not only help improve the pricing mechanism of the capital market, strengthen the market restraint on listed companies, and give full play to the functions and roles of the capital market, but will also be conducive to the transformation and reorganization of state-owned enterprises and the strategic readjustment of the layout of the state-owned economy, and will have a bearing on the vital interests of investors and the long-term development of listed companies! We must not avoid talking about it because we choke on food, still less because we are afraid. Turning a blind eye, right?"

Bang Bang Bang!

Fu Zhengyi applauded.

But the problem is that the promulgation of the nine articles of the state was not forced by the market to promulgate them? Could it be that the heavy price paid in the past three years is not enough to arouse attention and reflection and to formulate regulations that suit the national conditions and suit the current market development with a more prudent attitude and a more rigorous manner?

Director Wang was anxious, raised his hand and wanted to slap the table, but when the slap fell, he realized that this was not his office, let alone a place where he could play official power, and his five fingers clenched violently and said calmly. "Mr. Fu, there is no point in saying beautiful things, there is no specific solution, anyone who complains will ......"

Fu Zhengyi lowered his body slightly. "Want me to say?"

"Say! The defects in the system naturally require people of insight to stand up and speak out, and those who speak are not guilty!"

"Okay, then I'll just say a few points!" Fu Zhengyi straightened up before continuing. "The primary market risk-free arbitrage, the benefit is the exchange, and the disparity between the primary and secondary markets, is criticized for a long time, in fact, it is very simple to solve, the national placement is a way, the market value placement is also a way, are can solve the current shortcomings, promote the market development of the ......"

Director Wang's eyebrows tightened, and when he saw that Liu Lao's secretary was holding a notebook and recording, he said noncommittally. "Okay, you go on!"

"If an enterprise wants to develop, it naturally needs capital. However, the basic function of the capital market is to gather investors' funds and let high-quality enterprises develop, in terms of the current punishment system, it is equivalent to a fictitious, and the cost of illegal and criminal activities is outrageous, only by making counterfeiters pay a high or even unbearable price for this, it will naturally be able to put an end to the appearance of many problems such as the change of face in the performance and the black swan of the stock market, so that the capital market can truly serve the enterprise......"

Liu Lao finally opened his mouth. "How high is it cost?"

"Listed fraudsters need to compensate investors for their direct and indirect losses, and it is not an exaggeration to go bankrupt! As long as there is any step in the supervision department and the audit department that can play a real role, there will be no Lund case or any blue sky case, and the leaders of the relevant departments will not be responsible for the blatant fraud that has been committed for several years......

Liu Lao asked again. "So if these are resolved, how to solve the problem of reducing the holdings of state-owned shares?"

"Naturally, it's easy to solve!"

Liu Lao was stunned. "Huh, it's that simple?"

"It is inevitable that there will be equal rights for the same shares, and if a listed company discloses important matters in strict accordance with laws and regulations, does not falsify its finances, and is willing to make its performance public, where will investors be unwilling to hold the shares of a listed company for a long time? How can they be afraid that there are too many shares circulating in the market? In the future, they will inevitably enter the era of full circulation! If they are strictly restrained according to what I have said, the listed companies will not worry that they will not be able to reduce their holdings of state-owned shares, but will be worried that they will be able to reduce their holdings too much. It will lead barbarians to knock on the door, and barbarians will seek to seize control of listed companies......"

Liu Lao was stunned, thought about it and continued. "In recent years, the financing function of the market is almost none, but the funds in the market are limited, and there are many companies that need to be listed, how to solve it?"

"The audit system is changed to a registration system, strictly supervise the information disclosure of enterprises, as long as the violation, you need to face severe punishment, the pressure on the regulatory authorities has been greatly reduced, there is more energy for comprehensive supervision, the market is transparent, the enterprise is also transparent, investors are clear about the situation of the enterprise, clear about the future development of the enterprise, and then introduce the short mechanism, the introduction of stock futures index, long or short, handed over to the market, the market problems are solved by the market......

Liu Lao was silent for a long time before he let out a long sigh. "It's hard, it's hard, you're going to move the cake of many departments......"

"Since you all know it's a cake, let those who want to bite it think clearly, whether they will break their teeth by biting indiscriminately, whether they will be imprisoned and become prisoners......"