Yuan Xuya: International Board Is Unlikely To Launch This Year.

Wang Jianjun, deputy director of the office of the China Securities Regulatory Commission, said recently that the international board as one of the key tasks of the SFC this year is in an orderly way, but the time has not yet been clear. What kind of timing is suitable for the launch of the international board? What factors will be considered in the choice of timing? These are the doubts in the minds of investors. To this end, Yuan Xuya, deputy director of Xiangcai Securities Research Institute.

Yuan Xuya believes that the current time is not mature, and it still needs to wait for some time. This year's launch is unlikely. It is likely that by the beginning of next year, the momentum of economic improvement will be more determined. Until the international and domestic industrial structure turns to a more clear trend, the Chinese A share market will maintain a relatively good trend.

Yuan Xuya said that the current economic situation in the United States, Japan and Europe is not particularly optimistic. Some foreign companies may have made some achievements in the past, but their performance prospects and industry prospects are not very clear. In the face of major economic transformation and transformation, they may not have good growth in the future. If these companies are allowed to enter the international board of China, it will be difficult for them to play a positive role in promoting the domestic securities market and the construction of the international board.

He pointed out that when the trend of economic development in the United States and Japan is clearer and the European economy remains stable, when some good companies find the future direction of industrial development in the new round of the world economy, arranging these companies to list on the domestic board will be more conducive to China's international plate construction, and will also help attract foreign excellent companies to enter the domestic market for investment, and will play a catalytic role in China's industrial restructuring and pricing of some companies. From the perspective of the international board, many companies will benefit from the new economic cycle after the economic stability of the US, Japan and Europe.

On the choice of timing, Yuan Xuya suggested that in addition to considering the economic cycle, the international economy and the market environment and the structural adjustment of the world industry, the methods and conditions for selecting listed companies should also be considered. We should also consider that the current stock index system in the A share market, including the docking of the price system, should complement each other in the international market, but not because of the entry of the international board. Now the A share market is also facing some problems of restructuring and innovation. After the introduction of stock index futures, there are still many problems in the reform of the innovation mode, and the market innovation mode needs further improvement.

In addition, the Shanghai Stock Exchange also needs to make full preparations in terms of technology, such as trading rules, the formulation of listing rules, the settlement of overseas rules and legal problems. We need to analyze the mode of entrepreneurship and the degree of participation of international and domestic investors after the launch of the gem.