The investment structure of the A-share market continued to optimize during the year, the supervisory authorities repeatedly expressed the “introduction” of medium and long-term funds in the market_ ​​东方 Fortune.com



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Original title: The investment structure of the A-share market continued to optimize. During the year, the supervisory authorities repeatedly expressed the “introduction” of medium and long-term funds in the market

Summary

[La estructura de los inversores en el mercado de acciones A siguió optimizándose durante el año. Los reguladores expresaron repetidamente la “introducción” de fondos a mediano y largo plazo en el mercado]The active orientation of long-term funds in the market is an important task to comprehensively deepen the reform of the capital market. The entry of more long-term funds into the market will not only further optimize the investor structure, but also one of the important conditions for the healthy and stable development of the stock market. Since the beginning of this year, there have been continuous voices and measures to guide long-term capital to the market, the market investment structure has been gradually improved, and the market stability has been further improved. (Daily Values)

Actively guide long-term funds to market is to deepen capital in a comprehensive waymarketThe important task of reform: More long-term capital entering the market will not only further optimizeinvestmentThe structure of the stock market is also one of the important conditions for the healthy and stable development of the stock market. Since the beginning of this year, there have been continuous voices and measures to guide long-term capital to the market, the market investment structure has been gradually improved, and the market stability has been further improved.

  Chinese mailSavingsBankResearcher Lou Feipeng believed in an interview with a Securities Daily reporter that the capital market is a financial service.Real economyAn important part of the development of the real economy, especially large investment projects, requires stable and long-term sources of financing, and the healthy long-term development of the capital market itself also requires stable and long-term sources of financing. From this perspective, the orientation of medium and long-term funds towards the market not only favors the development of the capital market itself, but also helps the capital market better serve the real economy and promote the development of high quality of the real economy. In terms of funding sources, based on foreign experience, pension funds are an important source of long-term capital in the capital market. Therefore, it is necessary to develop pension financing, promote the development of the three pillars of pension funds, especially the second and third pillars, and mobilize employers and individuals for pensions. The enthusiasm of the accumulation of gold.

In 2020, regulators will continue to raise their voices to promote the entry of funds to the market in the medium and long term, and the relevant measures will continue. On February 15, Yan Qingmin, vice chairman of the China Securities Regulatory Commission, spoke at a press conference on the Joint Prevention and Control Mechanism of the State Council that he encouraged and supportedSocial Securityinsurance, Pension funds and other medium and long-term funds enter the market.

On May 15, the chairman of the China Securities Regulatory Commission, Yi Huiman, declared at the event “5 · 15 National Investor Protection Publicity Day” that he would promote the relaxation of the ratio and scope of various investment funds. medium and long-term that enter the market and will promote the realization of personal pension investments as soon as possible.Public offerbackgroundThe policy is in place.

On June 18, Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, in 2020LujiazuiThe forum stated that the China Banking and Insurance Regulatory Commission plans to launch six measures to support capital market development. Increased capital asset managementproductIssuance robustness, including supportinsurancethe companyIncrease investment in the capital market through direct investment and other channels.

It is worth noting that the “State Council Guidelines to Continue Improving the Quality of Listed Companies” issued on October 9opinion“In terms of promoting better and stronger listed companies, it is proposed to explore the establishment of a long-term evaluation mechanism for institutional investors to attract more medium and long-term funds to the market.

Also, on October 21 this year, Yi will be full in 2020Financial streetAt the annual meeting of the forum, when the relevant considerations to strengthen the construction of capital market infrastructure in the next stage were discussed, it was proposed to strengthen the construction of the investment side system, and it was clearly stated that the policy environment to promote the optimization of the third pillar pension and other medium and long-term funds that enter the market.

What is the current situation of entry into the capital market in the medium and long term?insuranceIn terms of financing, according to Yuan Xucheng, Director of the Treasury Department of the China Banking and Insurance Regulatory Commission, on November 20, ChinainsuranceThe “China Life Insurance Summit 2020 and the Annual Meeting of the Life Insurance Special Committee” held by the industry associations stated that after more than ten years of exploration, ChinaUse of insurance fundsThe initial results have been achieved with supervision, which are mainly reflected in four aspects. One of them is to strongly support the construction of the real economy and the capital market. Today, insurance funds are invested in stocks,LinkAnd insurance asset management products to provide financial support to the real economy with nearly 16 trillion yuan; insurance funds fully pay off long-term stability.Fixed investmentCapital advantage, actively participate in the construction of the capital market.At the end of the third quarter of this year, insurance funds invested in A shares accounted for the totalMarket value3.44% of China’s investment bonds accounted forBond market6.49% of the full scale.

SinceBankFinancial managementRegarding funding, a reporter for the Securities Daily reviewed data from China Wealth Management Network. As of November 26, there are currently no sales.BankEquity products of wealth management subsidiaries, while existing equity productsShare5 pieces. At the same time, the mixed wealth management products of some wealth management subsidiaries are also equipped with capital assets and the allocation ratio is between 20% and 70%. According to data from China Wealth Management Network, as of November 26, there were 557 mixed products of bank wealth management subsidiaries and 13 were for sale. According to previous disclosures of the China Banking and Insurance Regulatory Commission, as of the end of June 2020, the capital asset allocation scale of bank wealth management products has reached 790.7 billion yuan, which it represents approximately 3% of the bank’s total wealth management assets.

registeredInternational investmentAnalyst(CIIA) Zhou Yancong told the “Securities Daily” reporter that the amount of bank wealth management funds and insurance funds entering the market has increased significantly this year, mainly due to the obvious political orientation and relaxation of restrictions. of the market, and current A shares are relatively attractive to funds. These medium and long-term funds are of great importance to optimize the investment structure and stabilize the market.

(Source: Securities Daily)

(Responsible editor: DF520)

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