This year’s pension is expected to accelerate the admission of trillion-level funds for A-share ballast
On June 2, Yi Huiman, the chairman of the Securities Regulatory Commission, pointed out the direction of the next capital market reform in an interview with reporters, and guided the entry of medium and long-term funds into the market.
In response, Shang Zhenyu, the managing director and chief research officer of China Post Securities, told the Securities Daily that this year is the year of the capital market system change. The launch of the science and technology board will completely change the ecology of the capital market and will be geared towards institutional investors.The market is mainly converted. At the same time, the A-share market is expected to be in the historical bottom area. It is an excellent period for long-term capital to enter the market.
It is worth noting that since this year, as the “ballast stone” of the A-share market, pensions have entered the market frequently.
Among them, as the first pillar of pensions, the scale of state pension entrusted investments is 6,248.
6.9 billion yuan was invested in operations.
The Ministry of Human Resources and Social Security also clarified the list of provinces (autonomous regions, municipalities) that started entrusting investment in the basic pension insurance fund for urban and rural residents in 2019 and 2020 to ensure the steady advancement of pensions into the market.
In terms of the second pillar, more than ten provinces this year have promoted entrusted investment work for professional annuities, and at the same time, the first provincial professional annuity has started market-oriented operations.
In the third pillar, pension target funds have also received increasing attention from society.
Wu Yongzu, deputy director of the Ministry of Industry of the Chongyang Institute of Finance of Renmin University of China, told a reporter from the Securities Daily that from the situation in the country, the overall accumulated pension balance reached 5 trillion yuan, but most of it was placed in banks for interest.The rate of return even exceeds the growth rate of CPI in the same period each year.
With the acceleration of this financial reform, the speed of pension investment in the stock market has also accelerated. It is expected that by the end of this year, pensions may bring nearly A trillion yuan of funds to A shares.
”Pensions are typical long-term funds. They accelerate market entry, re-optimistic about the long-term development of the Chinese stock market, bring confidence to other investors, increase the proportion of funds converted to growth lines, investors pay more attention to value investment, and investment culture will change., The phenomenon of skyrocketing and slumping will be reduced.
“Yi Yongzu said.
When talking about what aspects of the capital markets of developing countries need to be improved in order to guide long-term funds into the market, Liu Xiangdong, deputy representative of the Economic Research Department of the China International Economic Exchange Center, told the Securities Daily reporter that at present, guiding long-term funds into the market is stillThe capital market needs to be 南宁桑拿 improved, especially in terms of information disclosure, penalties for violations, and withdrawal mechanisms. It is true that these stable funds can achieve the purpose of preserving and increasing value through long-term investments without being exposed to various “thunderstorm” risks.And the loss is first-rate.
Therefore, in order to improve the elimination mechanism of the capital market, it is necessary to further improve it, defeat more institutional investors to stay in the capital market, and form a positive effect of good currency expelling bad currency.
Yongzu believes that to guide long-term capital to enter the market, at least the following three aspects of work are promoted: First, China’s stock market must increase its opening up to the outside world.
China’s stock market is dominated by small and medium investors. Dating more long-term funds, especially overseas long-term funds, is conducive to mature market experience in stock market trading and improving investment culture.
The second is to speed up the pace of capital market reform, improve laws and regulations, and in particular strengthen investor protection, so that offenders pay the price, truly allow promising companies to obtain funds, increase market activity, and create healthierMarket environment.
The third is to allow the market to play its role and fully motivate intermediary agencies.
Accounting firms, law firms, investment banks, etc. play an important role in the capital market, and the quality of their research results is at the same time affecting the integrity of this capital market.
Therefore, vigorously developing intermediary institutions will also facilitate the rapid entry of long-term funds into the capital market.
(Planning Meng Ke)