For the valuation of the Chinese stock market, some Chinese scholars have said that some fund managers are influenced by Western theory, resulting in an underestimation of A shares and should explore the valuation system with Chinese characteristics.
Hong Rong, MBA mentor Hong Rong, Monda, Mona University of Shanghai Jiaotong University Monday (February 27), issued an article in Shanghai Securities.Large, long -term trend deviates from the actual situation.
Hong Rong wrote: "Some brokerage researchers and fund managers are high -profile students from the well -known college ivory tower. They are influenced by Western investment theory and do not know much about China's national conditions. They do not take the mass line.The ecology of the A -share market is not clear, but the huge amount of funds that have the right to speak and affect the market have become a force for underestimated Chinese assets. "
He also said that with foreign capital, the impact on A shares plusBig, foreign capital has also become an important force to underestimate Chinese assets."The 40 years of rapid development of China are also 40 years questioned by the West, but all Western investors who have been short Chinese have been taught by the market again."
The article states that to redeem Chinese assets, there mustTo ensure the capital market, to develop and strengthen the capital market, we must continue to change the Chinese capital market.
The article says that different valuation systems in different markets are rational and objective. Besides, there are differences between the degree of marketization, social systems, development stages, investor structures, and investment soil in China.It is necessary to explore a valuation system with Chinese characteristics and change the valuation of unreasonable Chinese core assets.
