In the important meeting held now, the newly appointed chairman of the China Securities Regulatory Commission also made a clear statement, and the regulatory thinking has also made a big adjustment, the securities market should not have major turmoil in the short and medium term, and the index has basically stabilized, which is a good thing for 217 million shareholders. However, some shareholders commented: This is long overdue, and it should be done better!
The securities regulatory authorities finally stated that they would not intervene excessively in the market, but when the market is seriously detached from fundamentals, there are irrational violent shocks, liquidity depletion, market panic, serious lack of confidence and other extreme situations, it should take decisive action to correct market failures. This statement is really called the source of the truth, and it must be overcorrected at the critical time!
In November 2023, when the South Korean stock market also continued to fall, when it was found that the entire market was firmly shrouded in short-selling atmosphere, how did the Korea Securities Regulatory Commission act! Not only that, but also check the short selling behavior in the first half of the year to see if there are any violations. After the sale, the South Korean stock market stabilized and rebounded continuously.
Some time ago, the mainland securities market also saw the phenomenon of the Korean securities market at the end of last year. Some institutions continue to spread negative news, and then take the opportunity to short and make a lot of money. However, what they have earned is the money of tens of millions of retail investors! Under the premise that our economy is still growing, the securities market has fallen unilaterally, which is completely unreasonable. Although we did it in the end, it seems that it is still a bit slow to shoot now.
It is hoped that the securities market will develop steadily in the future, and at the same time, it is necessary to introduce all kinds of advanced technological forces to control the unhealthy tendencies of stirring up wind and waves in the entire market. Don't let some people justify their illegal actions by saying "use market forces to correct the market". The stock market is a barometer of the economy, and when our economy and GDP continue to grow, how can it fall unilaterally? There must be evil in this! At this time, it is necessary for the regulatory departments to take action!
The idea of future supervision has also been made clear this time, and it is necessary to speed up the completion of some shortcomings and weaknesses in supervision. Keep your eyes open, strengthen early correction of problem institutions and listed companies, deal with all kinds of risks early, and crack down on all kinds of violations. In the past two years, some serious securities violations and violations have occurred repeatedly, including illegal banking, manipulation of the securities market, malicious short-selling, fraudulent listing, and financial fraud.
As a matter of fact, he has also continued to suggest that we should not only keep our eyes open, but also crack down hard! If we catch listed companies and intermediary organizations violating laws and regulations, if we gently let them go and the cost of violating the law is too low, then there will still be endless attempts to violate the law and break the law! This may still be the core problem facing the securities market at present.
The new securities law has also been promulgated for four years, but the new securities law and the amendments to the criminal law have criminally investigated and punished serious violations of the law in the securities market, but how many of them have been imprisoned now? Are the corresponding punishments dealt with according to the top level?
In particular, measures are not yet in place to protect investors in the stock market! If, after investigating and dealing with the violations of laws and regulations by listed companies and relevant intermediaries, there is a possibility that investor protection or class action lawsuits will be involved, the regulatory authorities should carry out investor protection work in advance to prevent those who violate the law from evading funds and transferring assets, and from evading punishment and compensation.
In this critical period, the punishment must keep up with the punishment and investor protection.