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 也谈中国证券市场 |
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也谈中国证券市场 -- 游客 - (4016 Byte) 2003-9-29 周一, 06:10 (1351 reads) |
roadrunner
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作者：游客 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
The CSRC has its missteps. It is trying to be everything of the stock market: the rule maker and the rule enforcer with only on e problem: it lacks the mandate. The exchanges (and CSRC in the sense) were run just like typical Chinese businesses: corrupted with no efficiency and manipulated by many interest groups as well as different government branches.
Want to know what cause all these troubles? You already have the answer: the system. The system that mix governing force with economical sections which lead to nowhere but corruption. How do you expect the exchanges to enforce any rules when the books of all listing companies are to some degree cooked? How good the rules or enforcers can do when their own interest are involved, not only economical but also political? And how do you expect the rules to be enforced when the forces that broke the rules can simply make the CSRC change the rules?
Once the market lost its trust from its customer (or never had it) as it is, the market is acting on short term (or very short term) interest, which is further damage its stability as well as the capital market.
As everything else, unless the separation of government and businesses, it will continue as it is now.
作者：游客 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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 也谈中国证券市场 -- erban - (4016 Byte) 2003-9-29 周一, 06:10 (1351 reads) - agree adn disagree -- roadrunner - (2452 Byte) 2003-9-29 周一, 19:09 (322 reads)
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