From the world to see, the mainland stock market this year is also larger drop. But such an outcome and nothing is normal. Quite a number of economists, market experts had been predicted this fall. Overall, the fall has reflected the macroeconomic fundamentals,dc hats including the entity economy, inflation situation, also reflects the past few years and excessive monetary policy to the influence of market regulation. First of all, the stock market economy for the influence of, is not to say that the mainland stock market has can be used as a barometer of economic entity, can effectively reflect economic health. It is for the mainland stock market is not mature, in addition to a large number of small investors to participate in this market outside, the operators of the real economy-whether private enterprise and its operator, or the state-owned enterprise, also are excessive is involved in this market speculation. When the entity economy management appear pressure, operators have to withdraw investment to support economic entity, will have to market downward pressure. Such as big shareholders and important shareholder holdings, the executives holdings, behind the may reflect entity business activities of the face of funds. Just as the early years of the 21 st century, the mainland economy has obvious out of the effects of the Asian financial crisis, to join the world trade organization of the bonus began to appear, but instead the mainland equity into the round out the trend of long-term. If do can earn money, earns a lot, who can fry stock? The mainland stock market has been in such a indirect, distorting way reflect the real economy. Inflation of the stock market is also very subtle influence. Inflation is caused by certain early first asset bubbles and inflation for asset bubble is a good excuse, to the expansion of the asset bubble play a important role. But with inflation began on the offensive against economic entity, will cause the asset bubble burst. The decline in the stock market in is such an asset bubble of the pilot. This two in the mainland stock market trend is very good by explaining this. At the same time, the most important point, the mainland stock market excessive regulation of the market caused serious distortion. Mainland China capital market is top-down built, not from the grassroots free market trading was born out of the. Regulators to market a deep distrust, participate in market people have a deep distrust. They think, investors had not experienced hundreds of years the baptism of the capital market, will not mature, negative not responsible. And because the market the intention was set up to provide convenience for the state-owned enterprise financing, the market success or failure in relation to the success of the state-owned enterprise reform, so they have an obligation to market supervision "good". Especially worried about "immature" investors in the market, not the loss of your behavior, find the government trouble, so they are more feel that you have the obligation to ensure that the capital market is a "good" market-is a deal in which the investment is "YouLiangPin", in which the issuance of securities companies are "high quality" the enterprise market. Contempt of rationality, despised market investors of strength and superstition their power and superstition supervision, is the two sides of a coin.mlb jerseys For these reasons, the mainland capital market from the beginning of establishment, are set to control the investment supply, control the quality as the main regulatory guidance investment regulatory model. Securities regulators have ultimate power to decide what the enterprise can be in this market securities issue; Decide which investment products in this market can the issuance and transaction; Even to decide what people, which institutions can participate in the market. Securities regulators think of himself as the most professional, the most fair institutions, investors full of ci father love, can have the ability to ensure that only "good" in the presence of just can now be sold on the market and trade. Such supervision ideas embodied in the listing of the stocks essence of audit. Audit system in investment in essence in the primary market is always in short supply, and consequently to no matter what kind of enterprise can be in the market with high price's issuance of stocks. So the mainland stock often from listed the first day is not worth; The prices are to return its value, it is more common. In the past two years in the course of China's stock market, also reflects this. Can say, the mainland stock market is in the not mature and because mistakes caused by the regulation pay your debts distortion. In 2012, the mainland stock market will also reflect the past few years the rhythm of the show, there are falling, also will have to rise. But in 2012 for China's case is a connecting link between the preceding year, also should be to continue to push forward the reform of the year. In the field of mainland financial future policymakers should be market economy's supporters, so, should be on the hope that ji capital market areas more deeply, more extensive reform. Such as stock issuance examination to the form audit by the essence, registration system change; Related financial institutions, agency set up the lower threshold, industry to the barriers are removed; Even more by the market allows investors to set up, more options, should be put on the agenda. In 2005, when the stock market bottoms of the "equity division reform have demonstrated that market is at the bottom, is the opportunity to reform. And even if not perfect, controversial reform, never than inaction strong many times.

see more:The tragedy of new shares
The image of China cast soft power, brandish don't cold industry