Economic daily: a steady-market combination to boost confidence in capital market development

ON 22 JULY, THE DAILY ECONOMIC NEWSPAPER WROTE THAT, IN RECENT TIMES, MARKET SHOCKS HAD INTENSIFIED, TECHNOLOGY PLATES HAD BEEN REORIENTED IN STAGES AND SOME INVESTORS HAD EXPRESSED DOUBTS ABOUT THE LONG-TERM DYNAMICS OF THE MARKET. IN THE FACE OF MARKET FLUCTUATIONS, THE CVM HELD TWO CONSECUTIVE SEMINARS TO SEND A TIMELY SIGNAL OF STEADY EXPECTATIONS. ON 20 JULY, THE PROPOSALS WERE HEARD MAINLY FROM INVESTORS; ON 21 JULY, THE PROPOSALS WERE HEARD FROM LISTED COMPANIES, INDUSTRY BODIES AND EXPERT SCHOLARS. REVIEWING THE KEY ADJUSTMENT NODES OF UNIT A, THE REGULATORY PANEL WAS AN IMPORTANT INITIATIVE TO STABILIZE MARKET EXPECTATIONS AND MITIGATE MARKET RISKS. THESE TWO DAYS OF SEMINARS HAVE ALSO RELEASED THE FIRM DETERMINATION OF A STABLE REGULATORY MARKET. FOR REASONS OF THE CURRENT ROUND OF MARKET REVERSALS, IT IS GENERALLY ACCEPTED THAT THE MARKET IS MAINLY A RESULT OF STRUCTURAL ADJUSTMENTS CAUSED BY EXTERNAL EMOTIONAL DISTURBANCES, RATHER THAN A REVERSAL OF ECONOMIC FUNDAMENTALS OR INDUSTRIAL TRENDS, AND THAT THE MEDIUM- AND LONG-TERM POSITIVE PATTERN OF A SHARES IS STILL SUPPORTED. IN THE CONTEXT OF THE POLICY ENVIRONMENT, THE COUNTRY'S ECONOMY IS NOW CHARACTERIZED BY AN OVERALL SMOOTH AND NEW-FOR-OPPORTUNITY DEVELOPMENT, A PROFOUND CHANGE IN THE OVERALL ECOLOGY OF CAPITAL MARKETS SINCE THE PROMULGATION OF THE NEW “ARTICLE 9”, THE CONTINUED RELEASE OF THE EFFECTS OF COMPREHENSIVE REFORM OF INVESTMENT FINANCING, THE EFFECTIVE UPGRADING OF THE QUALITY AND VALUE OF INVESTMENTS OF LISTED COMPANIES AND A SOLID FOUNDATION FOR THE SOUND FUNCTIONING OF MARKETS. IN TERMS OF FINANCIAL MOVEMENTS, VARIOUS OPERATORS ARE INCREASING THEIR DEPLOYMENTS WITH A “GOLD AND SILVER” REVERSAL, WITH A SOLID MARKET “PORTFOLIO” AND A CO-ORDINATED MARKET TO CONVEY FIRM CONFIDENCE IN THE DEVELOPMENT PROSPECTS OF CAPITAL MARKETS. INTENSIVE BUY-BACKS AND INCREASES IN RECENT DAYS WILL BETTER PRESERVE CORPORATE VALUES AND THE INTERESTS OF ALL SHAREHOLDERS. COMPARED WITH SHORT-TERM FLUCTUATIONS, THE FIRM PERFORMANCE OF LISTED COMPANIES IS AN IMPORTANT MEASURE OF VALUE AND ONE OF THE ANSWERS TO MARKET MISGIVINGS. FROM PROFIT DATA, AS AT 19 JULY, NET PROFITS TOTALLED APPROXIMATELY $23,736 MILLION, AN INCREASE OF 147 PER CENT OVER THE PREVIOUS YEAR, IN THE AVERAGE OF THE AVERAGE OF THE UPPER AND LOWER LEVELS OF NET PROFITS FOR WHICH THE DEEP MARKET HAD DISCLOSED PERFORMANCE FORECASTS FOR 900 COMPANIES。