The chairman of the China Securities Regulatory Commission Yi Hui Man said that in recent years, some large enterprise groups have blindly financed and eventually exploded, and the lessons have been painful.If you control over -leverage, the market will be stable and far away.
According to the China News Agency, the Yinhui Full Wednesday (November 8) said at the 2023 Financial Street Forum Annual Meeting in Beijing that preventing risks is the main goal of strengthening supervision. Strengthening supervision is the risk prevention risk.Effective ways, both are important guarantees to achieve high -quality development.
Yi Hui Man said that from the perspective of development rules and regulatory practice in recent years, the capital market risks mainly have the following causes:
One is excessive leverage or even out of control.In 2008, the international financial crisis, the abnormal fluctuation of the Chinese stock market in 2015, and the out of control of leverage are important incentives.In recent years, some large -scale enterprise groups have blindly financed the expansion of the tools at home and abroad, inside and outside, inside and outside the market, and inside and outside the field.If you control over -leverage, the market will be stable and far away.
The second is innovation and supervision imbalance.Innovation is an important driving force for financial development, but the "pseudo -innovation" that violates the laws of economic and financial nature, resulting in generalization of finance, and inevitably cause risks.In the past period, the "pseudo -private", the Gold Exchange, and the "Pseudo -gold Exchange" various forms of "financial" chaos frequently occurred, and supervision lag behind, becoming an important source of risks.
Third is fraud and fraud.Fraud issuance and financial fraud are the tumors of the capital market. Even some enterprises, intermediaries and relevant parties collude with relevant parties. The entire process is faked, forming a fraud "ecological chain" and affecting investor confidence.
Fourth is to do what you do.The affairs of the affected people and loyalty are the lifeline of the asset management industry.If you do not have the corresponding professional and risk control capabilities, it is inevitable that the problem is not inevitable.In particular, some non -licensed institutions, including various types of illegal institutions, engaged in self -financing, embezzlement and embezzlement, and using other people's money to do their own affairs, which seriously violated faith obligations.
Five is the absence of subject responsibility.The healthy development of the capital market requires all parties such as listed companies, intermediary agencies, investment institutions, and regulators. The risk outbreak is often lost in multiple links.Among them, there are excessive greed, regulatory vacuum, and insufficient accountability.
Yi Hui Man said, at the same time, it is necessary to see that in today's global market, various input risks are superimposed, and some have non -traditional, non -economical, irrational characteristics, which is further added furtherIt is difficult to prevent and control risks.
