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", or search in Baidu: Sanlian Literature Network] Fan Wuxian thought about it for a while, and then said to Vice Chairman He,

This question really embarrassed me, and the chairman hurriedly asked. Not to mention that Fan Wuxian is a frequent visitor of Boss Zhu, and he is also the guiding light he recommends to himself, the foundation he has created by himself alone is enough to make people look sideways, not to mention that there is a ministerial-level father who is supported by him, these are not something that can be ignored. Although ordinary people don't know what happened to Fan Wuxian and Fan Heng at that time, a relatively high-level cadre like Vice Chairman He, especially a well-informed leading cadre, is still relatively clear about this matter, and they also know that Fan Heng can be promoted to a ministerial-level leadership position so quickly, which is inseparable from his son. If it weren't for Fan Wu's disease, how could Panshi have built such a large-scale international airport? How is it possible to upgrade from a county-level city to a prefecture-level city, and then to a provincial-level city? It's like a dream! Since he has such an honorable status, he will definitely have the corresponding ability, so Vice Chairman He is quite looking forward to Fan Wuxi's opinion. Fan Wuxi touched his chin, and after pondering for a while, he said to Vice Chairman He,

"The stock market is now seen as a solution to the difficulties of state-owned enterprises, not as a financing channel for the flow of limited resources to the most efficient enterprises and the most capable entrepreneurs. \\/\ This kind of development of the stock market for poverty alleviation. The government's guiding ideology should be to ensure the protection of fair trade. Protecting the interests of investors, not the special interests of a few. I suggest that the state-owned enterprises should be indirectly relieved of their difficulties, and those good and potential private enterprises and non-state-owned enterprises should be listed on the stock market, and then the state-owned enterprises should be acquired with the funds raised. This indirectness not only solves the problem of funding. And the mechanism was solved As soon as Fan Wuxi said this, Vice Chairman He's face immediately turned like a bitter gourd.

"Mr. Fan, you may be right to think so, but if I ask the leader for this. Or it's okay, but it's strange that the people don't scold me to death! "Although the relationship between private enterprises and state-owned enterprises is now clear, and the government is also encouraging dynamic private enterprises to acquire some state-owned enterprises that cannot survive, there is a premise for this, that is, your private enterprises have the money to make acquisitions.

Hypothetical how the vice chairman in accordance with Fan Wuxi's proposal. If you use the stock market as a means of financing private enterprises and buy state-owned enterprises in reverse, you will be scolded to death by many people, there is no doubt about this.

Fan Wuxi shrugged his shoulders with a smile and said,

"Okay, this one won't work, so let's think about the other things. \\/\”

"yes, let's think about something else." Vice Chairman He nodded again and again. Fan Wuxian thought about it and then said,

"Another is the method of listing the quota of indicators. This one should be improved. "The method of listing the quota of the index, its meaning, the vast majority of the listing indicators are for the local poverty alleviation, bundled listing is very common.

The problem of fraud is serious, so after the listing, the company's mechanism and financial problems are quickly exposed, and it is really one year of excellent performance, two years of loss, three years of ST, and four years of delisting.

A significant part of the company became empty shells. In addition to the quota system. Fan Wuzhi also proposed for the share division system, and all listed state-owned companies currently have two types of shares: non-tradable shares and tradable shares, the former being state-owned shares.

The latter is privately held, and the two types of shares have the same rights, but the cost of holding shares is very different, which causes serious injustice between the two types of shareholders, and also provides a natural operating space for the rampant market makers.

"The questions you raised made me feel embarrassed." Vice Chairman He shook his head and said with a wry smile,

"China's stock market is different from foreign stock markets, you know this, otherwise we wouldn't be so difficult to deal with the root cause of the problem, if you don't solve these problems, you will still have an endless headache in the end. \\\\\" Fan Wuxian spread his hands and said helplessly,

"If it really doesn't work, then there's only one idea."

"What's the idea?" Vice Chairman He hurriedly asked. In fact, after listening to the three questions raised by Fan Wuxian just now, Vice Chairman He knew that he had not asked the wrong person, these three questions are indeed restricting the development of China's stock market, and it is impossible to talk about the healthy development of China's stock market, but the current situation is as he told Fan Wuxi, these three problems are artificial, at least the current management does not dare to touch this system, otherwise they will only put themselves into it first.

Vice Chairman He himself also knows that in addition to appearing in the listing review, the phenomenon of fraud also extends to the qualifications for allotment of shares without any suspense.

According to the regulations of the China Securities Regulatory Commission, a listed company must have a return on net assets of more than 10% for three consecutive years before it can enjoy the rights issue.

As a result, a large number of companies have stuck to the lifeline of 10% per year. Among the commonly used fraud methods, it can be to inflate profits, or to sell one's own products at a higher price to increase the rate of return, or to strip the negative assets to the trusteeship of the group company at the next level, and then inject another asset, the rate of return will naturally increase, this kind of financial game has long been an open secret.

It is on such soil that China's capital market has become a gray and speculative adventurer's paradise.

The listed state-owned enterprises seem to have picked up a big pie that fell from the sky, and their mechanism has not been improved in any way because of this.

In particular, the local state-owned enterprises in various provinces and municipalities that relied on the policy of relieving difficulties to obtain targets quickly squandered all the funds that could be easily raised, and then fell into a situation of loss.

In the end, they became shell resources one after another, and some capable capital players took the opportunity to enter, up and down, stirring up waves, and turning China into an era of wild dancing of bookmakers.

"Now there is only one idea that can be realized, and that is to introduce a limit on the price limit and the limit down." Fan Wuxian waved his hand to Vice Chairman He.

The price limit system originated from the early foreign securities market. It is a trading system in the securities market that appropriately restricts the rise and fall of the price of each security on the day in order to prevent the sharp rise and fall of the transaction price and curb excessive speculation.

Some exchanges set a limit on the rise and fall of a security, such as limiting individual stocks to a maximum of 10% of the previous closing price on a single trading day.

Some exchanges will stop trading at the upper or lower limit until the market price falls above the upper or lower price limit.

There are also exchanges that will resume trading within the expanded price range after a brief suspension of trading. The main difference between the local price limit system and the foreign system is that the stock price reaches the price limit.

Instead of completely stopping trading, trading at or within the price limit can continue until the end of the day.

"What's the practical point of doing that?" Vice Chairman He asked.

"At least we can protect the interests of small and medium-sized investors, so that they will not be like now, and it is easy for them to lose all of their money all at once." If the society is unstable, it will have a great impact on the stock market. Fan replied.

In fact, the number of professional stock speculators is not very large, and many people are retired old men and old ladies, and these people's reactions are relatively slow.

The price of stocks rises and falls too high to be unbearable for them, so there have been many cases of sudden deaths in the halls of the stock exchange.

For the predators who are mixed in the stock market, it is also very easy to use the imperfection of trading rules to speculate on a stock, and many retail investors lose their heads in this situation.

If we want to maintain the stable development of the stock market, we cannot but consider the interests of small and medium-sized investors, so how to effectively protect the interests of small and medium-sized investors.

As for listed companies, they have never been losers, and those capital players do not need the CSRC to worry about them.

Fan Wuxian believes that even under the most stringent system, capital players can also find their own space to play, so they don't need others to worry about it, on the other hand, these rules introduced by the Securities Regulatory Commission are basically beneficial to the bookmakers.

It's hard to imagine who they are speaking from. Vice Chairman He and Fan Wuxian sat together for a long time.

We talked about a lot of things and felt very beneficial. Boss Zhu found himself an understanding person, and what is even more outrageous is that this person has only passed his eighteenth birthday, and he is already the boss of a multinational company, it is really hard for him to imagine, how was such a genius born?

"It's no reason for you to ask me about this, you should ask my parents." Fan replied with a smile.

After sending Vice Chairman He and his entourage away, Fan Wuxian felt more interested, so he ran to the headquarters office to chat with everyone to see what new trends had been made recently.

"Boss, good news!" An employee put down the transatlantic phone and said to Fan Wuxian excitedly,

"NCF has finally opened the 64K international private line connected to the Internet through Sprint in the United States, realizing a full-featured connection to the Internet."

"Oh?!" After hearing the news, Fan Wuxi's spirits were suddenly lifted, and his heart said that China had finally entered the Internet era!

I have been waiting for this day, but I have been waiting for a long time. NCFC is China's national computer network, after its construction is initially completed, there is no information or data on the network to provide reference, there is no good network application, in order to make the network really useful, it is necessary to establish a formal connection with the Internet.

Due to political reasons, FC engineers and technicians began to contact US officials in 1992, and then won the support of a number of well-known figures in the US network circles, and many well-known scientists wrote letters to the White House, and with the help of many enthusiastic people, the problem was finally resolved.

During this period, it took more than a year and a half to resolve the political issue alone. Integration into the Internet family has brought many opportunities for Chinese to develop.

(To be continued, if you want to know what happened next, please log in., more chapters,