Baijing, Xcheng District, No. 19 Financial Street.

People who regularly invest in stocks should be familiar with this address.

If you are still confused, then you have definitely heard of the name "China Securities Regulatory Commission", its full name is "Huaxia Securities Regulatory Commission".

The main role of this organization is to carry out unified supervision and management of the domestic futures market and securities market in accordance with laws and regulations and authorization.

For shareholders, the CSRC has a deeper impression.

That is, whenever there is a problem in the market, a certain stock or a certain company, then the CSRC will punish the company, and the relevant information of the punishment will also be broadcast to the market and the public in a timely manner.

Administrative punishment is a very important responsibility for them.

In addition, the CSRC also has one of the biggest roles, which is the role of issuance supervision.

In the stock market, there are a lot of new shares to be issued almost every few days.

In the process of listing and issuing these new shares, all materials, regulations and processes are also reviewed and supervised by the CSRC.

They are the veritable managers of the entire Chinese financial industry.

The headquarters of the "Securities Regulatory Commission" is set up in the silver-gray Fukai Building, and there is nothing special in ordinary times, even at the gate, there is only a very simple electric telescopic door, which ordinary people can walk in and see.

But today, the building's security has suddenly upgraded.

Since 3 p.m., several uniformed security personnel have sealed all the entrances and exits of the building, and no personnel are allowed to enter and exit at will.

It was almost at this time that Chen Jie came to the Securities Regulatory Commission.

As soon as he stepped into the reception hall on the first floor with one foot, he saw a middle-aged man in his fifties walking towards him from afar: "Hahahaha, Chen Jie, come to Baijing and don't call me, do you think my level is too low and don't want to take care of it!" ”

When Chen Jie saw that it was Li Jiange, the chairman of CICC, he also greeted him with a smile: "Chairman Li, don't say that, I'm also afraid of disturbing your work, I'm really embarrassed!" ”

When the two met, they both stretched out their hands, held each other's hands and swayed up and down, they all looked like old acquaintances, and they talked nonsense for a few minutes, but they didn't touch the topic.

The two talked and laughed, and under the guidance of the reception staff, they passed through the reception at the entrance of the first floor, and took the elevator directly to the eighth floor.

There were faint human voices coming from inside, and it seemed that there were quite a few people who arrived early.

Chen Jie adjusted his mentality slightly, smiled faintly, and stepped into the conference room with Li Jiange.

He briefly exchanged pleasantries with everyone who arrived first, and then sat down at the oval conference table in the center of the conference room under the guidance of the staff.

As soon as he entered, he noticed that there were about twenty people in the conference room.

Five or six of them sat across from him, and the rest were scattered among the chairs against the wall, in a circular shape, wrapping him in about the middle.

Judging from the introduction before the start of the meeting, the representatives of leading brokerages and fund institutions such as CICC and CITIC were basically present today.

However, in a group of industry insiders, there seem to be three or four people from other systems, and it seems that today's meeting may not be so simple.

Chen Jie glanced at his old acquaintance Wang Guobin, and the representatives of several Donghai City public funds next to him also smiled and nodded at him.

After everyone was seated, Shang Fulin, chairman of the China Securities Regulatory Commission, became a little serious, and asked a sharp question straight to the point:

"Do you think the stock market is in the end now?"

When this question was raised, the conference room, which was originally a little noisy, instantly became extremely silent.

After the stock market hit a peak of 6,000 points in October last year, it has only been half a year, and it has plummeted all the way to the current 3,000 points.

Take Nanyun Copper as an example.

Since the beginning of 2006, it has only taken two years to soar from the price of 2 yuan to 97 yuan, an astonishing increase of more than 40 times.

Even if its stock price has fallen to 20 yuan now, there is still a tenfold increase!

Who dares to say the end?

Although the Shanghai Composite Index has fallen from 6,000 points all the way to the present, many securities research institutes have made similar bullish remarks such as "the bottom has obvious characteristics, the price depression has appeared, and the opportunity to buy the bottom is not lost".

But that's just to coax stockholders, and secretly their proprietary markets are selling stocks.

If you really want to put it on the table, there are still many stocks like Nanyun Copper in the market, and naturally they can't reach the baseline of "value return" in the hearts of most institutions.

Even if a small number of institutions think that the market has almost adjusted, their power is still too small relative to the size of the entire stock market, and they cannot form a joint force in the market at all.

A real market bottom is unlikely to occur without the participation of a large number of major institutions.

Seeing that no one was willing to express his position, Shang Fulin seemed to have expected it, and he continued: "Now the stock market continues to fall, which not only seriously affects the issuance and refinancing of new shares, but also has a big impact on investor confidence, and the trading volume of the Shanghai and Shenzhen stock markets continues to shrink. ”

"Therefore, we have decided to adjust the stamp duty rate, from the current 3%, to the original 1%!"

Coax!

As soon as his words fell, all the people in the conference room were in a stir.

The representatives of the institutions who participated in the meeting all showed excited expressions on their faces.

I didn't expect it to be such a blockbuster news.

Since its establishment, the stock market has experienced two downward adjustments to stamp duty, and each time the market has reacted very strongly, and the market has also risen to varying degrees.

This is good news for both shareholders and securities institutions.

After all, now that the stock market continues to decline, shareholders have no confidence, and in the context of a sharp reduction in trading volume, the brokerage business income of securities companies will inevitably be affected.

If you can't reverse this decline.

Some smaller securities companies may even lose money as a result.

Because a large part of their income comes from commissions on stock trading.

Although the reduction of stamp duty may not necessarily play a fundamental reversal role in the downward trend of the market, it is definitely a shot in the arm for most shareholders.

It should not be a problem for them to temporarily return to the stock market and revitalize the capital market again.

Shang Fulin was very satisfied with everyone's reaction.

Regardless of whether this medicine works or not, let the shareholders drink it first, and if it still doesn't work in the future, then slowly adjust it according to market feedback.

This is also their consistent "response" to the market crisis over the years.

The atmosphere in the conference room gradually became warmer, and it seemed that everyone present had long been accustomed to this process.

Big things have small meetings, small things have big meetings.

A meeting like today's is mainly to serve as a notice and send a signal that "we attach great importance to it".

That's enough.

However, just when everyone thought that today's meeting would end like this, a somewhat abrupt voice sounded.

"Chairman Shang, I think that the adjustment of stamp duty now can only play a role in treating the symptoms but not the root cause of the current market environment, and we might as well discuss it first and suspend the IPO, which is more realistic."