IPO Big Deceleration: Just To Create The "Two Sessions" Market?

The national securities and futures supervision conference was held in Beijing.

Liu Shiyu, chairman of the SFC, attended the meeting and delivered an important speech.

President Liu Shiyu has basically answered the hot topics of the market.

For example, the market concerns the issue of IPO rhythm.

The chairman said it took 2-3 years to solve the IPO barrier lake.

To this end, there are market participants said that this is a major positive market, which means the IPO deceleration.

The market participants counted the bill.

According to the website of the securities and Futures Commission, as of January 19, 2017, the SFC accepted 721 enterprises in the first place. According to the rhythm of three times a day before the Spring Festival, the queuing enterprises will be in full one year; if it is 2-3 years, we can calculate it concretely: if it is 2 years, it will average 1.5 talents per day; in 3 years, 1 of that day!

Will the speed of IPO really slow down? Based on chairman Liu Shiyu's "2-3 years' solution to IPO barrier lake", it seems that there is no reason why market participants make the slowdown in IPO.

It can be proved that only 8 new shares were issued last week, and from the current arrangement this week, 2 new issues have been arranged on Wednesday, 15.

This also seems to indicate that IPO deceleration has become an objective fact.

So, does this mean that the IPO will really slow down? Or does the regulators listen to the call for IPO to slow down the pace of issuance before the Spring Festival?

Although President Liu Shiyu said that it took 2-3 years to solve the IPO dammed lake, at the national securities futures regulatory meeting, President Liu Shiyu also made it clear that the stability and financing of the stock index could not be antagonistic. There was no improvement in the number of IPO. Some ugly phenomena in the capital market could hardly be fundamentally solved. In terms of quantity, the price of the shell did not come down, and the shell was also sold. This shows that Liu Shiyu still advocates "IPO quantity upgrading", that is to say, more shares are issued.

As for president Liu Shiyu, he said it would take 2-3 years to solve this problem.

Dammed lake, for this topic, the market can not be understood in a static way, but should be interpreted dynamically.

Because IPO dammed lake is not only the stock of 721, and in the next 2-3 years will increase the scale or not less than 721 incremental companies to join the IPO queue, to form a new dammed lake.

This means that in the next 2-3 years, the stock IPO barrier lake has been solved, but at the same time it will continue to solve the incremental IPO barrier lake.

The most obvious point is that the implementation of the IPO poverty relief policy is not only restricted by the IPO company of the poverty-stricken counties in China, but also from the IPO companies in two regions of Tibet and Xinjiang.

Only this part of the increment will not be a decimal.

Therefore, according to Chairman Liu Shiyu's statement that it is 2-3 years to solve the problem of IPO dammed lake, it is really untenable to conclude that IPO is slowing down.

Of course, this does not mean that in some special periods.

It will not slow down the pace of IPO release.

Nor does it mean that the number of new shares issued every day will remain at 3.

For example, the IPO decelerated from last week, which is because the stock market has entered a special period, namely the "two sessions" cycle.

Because the annual "two sessions" will be held in early March, and the convening of the "two sessions" is a major event in Chinese society. The stock market usually needs to create a good atmosphere and create a stable and peaceful atmosphere.

This is what we usually call "two sessions".

Therefore, it is very intuitive that one of the reasons why the new stock market is slowing down is to create a "two sessions" market.

Although the official media, including Xinhua news agency and people's daily, have been actively promoting the issue of drums and calls for IPO, the SFC has not been able to face the "two sessions".

Therefore, the SFC has adopted a conventional approach, which is generally acceptable to investors, to slow down the pace of IPO issuance.

Therefore, slowing down the pace of IPO since last week is to create the "two sessions" market, which is a special practice adopted in special times.

Therefore, for chairman Liu Shiyu's statement that it is 2-3 years to solve the problem of IPO dammed lake, the market should not make a one-sided interpretation, and then show a blind optimism to the market.

The situation of IPO in 2017 is very grim. For this reason, investors should have a clear understanding and make a correct judgement on the investment in 2017.

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