Gem retreat city guo substantial reform the first step

China's securities market may soon have real retreat city system. Where did the pensions of the entry, and pseudo market after proposition, the gem in retreat city system after a delay to delay, the China securities market finally to the beginning of substantial reform. February 16,, the securities daily release information, refer to withdraw from the market system is releasing the gem. From two retreat city conditions that, the gem retreat city moved ZhenGe: first of all, recovery audit standard listed to deduct the profits and losses of the regular net profit under the lower as the judgment standard; Second, the insolvency of listed company shorten time to withdraw from the market. The profits and losses of the listed company is not recognized for earnings of paint commonly used method, an important annual report were announced, suddenly sell an asset, or from local governments get A huge subsidies, A successful turnaround, achieve the smooth the shell target, the A share market in common. Because of the profits and losses of the regular great harm, involving range, so not to resist the profits and losses of the regular deduct the local government, the interests of listed company in the great pressure chain group,polarized sunglasses is attack a vital point terms. In the A share market, with more than ninety percent of the company to get A government subsidies, whatever scholars from renmin, corporation; Whether profits, losses, GaiMoNengWai. According to the China association of certified accountants issued 2010 report of the auditing situation bulletin, already disclosure of the annual report 1570 companies, 1454 house received government subsidies, accounting for more than 92.61%, the total amount involved as high as 46.44 billion, average each listed company has 31.8709 million yuan RMB subsidies. And in 2007, shenzhen exchanges have 91 companies motherboard decriminalizes accounted for more than 50% net profits and losses, accounting for more than 18.6%. February 15 day night, * ST jian-tong issued announcement disclosure in 2011 annual report, 2011 net profit of 52.407 million yuan, 338 million yuan net loss in 2010, realize the out of the red. The company in October 2011 to give the company received langfang city bureau of finance of 80 million yuan of business financial allowance, already recorded in the profits and losses of the current period in 2011, is the main reason for out of the red. It is more terrible to Beijing Oriental and company, basic depend to subsidies for a living, as corporate vegetable, as long as to pull a blood transfusion tube, a pipe, the company went no survival may. Can say, the profits and losses of the regular, especially the government subsidies, has reversed the listed company demarcate choose standard, let retreat city mechanism was largely invisible, make the stock market is growing zombie company team. The gem retreat city system has several key objectives. First, brightly against borrow shell listed, against trash stock speculation. To avoid gem company through various regulation after suspended for listing financial index escape retreat city, to perfect the company to resume the audit of the gem listing standard, to suspend the listed company listed on the recovery financial standards, with reference to the initial public offering and refinance calculation method to deduct the net profits and losses of the regular before and after what is low as earnings judgment standard. At the same time, don't support suspended by the listed company by shell way back on the market. In the United States are shares in listed by shell farce, has let borrow shell listed as investors circle the pronoun of money. Second, never slow, the retreat city company firmly retreat city, can't let the zombie company in the market racing. Shorten the retreat city time, once the audited annual financial accounting report shows negative net assets, the stock suspended for listing; For two years for a negative net assets, the shares listed on the termination. In order to join, the implementation of the "retreat city consolidation period" system, which is a company stock in exchange listed after termination decision, the shares of a company listed before termination, give 30 trading day "to withdraw from the market consolidation period". And then turn to do STH for sb the stock transfer system, in order to maintain exit channels. To be sure, large fry, fry ST shares listed by shell, the retreat city sort of company as sweet BoBo phenomenon will never return, used to put the garbage when the baby ordinary investors will bite can is obtained. Investors ever crazy fry ST strands, because interest middleman ready restructuring of the nipple, future in the gem, ST shares are no longer there, investors have to earn my own living, and could not find can rely on the nipple. To withdraw from the market mechanism in the early launch, gem valuations central will decline. Investors will join in valuations to withdraw from the market risk factor, will give a small and medium plate and gem motherboard that no risk discount. Look, gem lost, gem of investors more losses, but in the long run,baseball hats the gem therefore will investors get the credit spread, they will thank you for this severe retreat city system. It is the retreat city system, the company the fish in troubled waters out of the market, let through subsidies zombie survival company exposed the true face, therefore, to do bigger and stronger company gem, will have small and medium plate and motherboard than better quality of genes, deserve a higher price. Retreat city system for the future of new shares BaoBeiZhi provides the basis, with market retreat city, just have the issue of marketization. Now that the local government to gem companies need subsidies, so under the supervision department of the FaShenWei also need not give the listed company to provide credit endorsed, let intermediaries to speak will do. The father loves the socialist economic development in the interests and unprincipled entwine, let China products and unsafe drew a "=", make the development of the economy is a preferential policy competition "competition time" war, the last stand out of usually is human, and administration officials understand music-drama.this company, let China become public listed company credit of ethnic groups. Guo since office, all sorts of words and deeds, only gem retreat city system is the A share market substantive reform, this is the first step in the long march.

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