After the news of China's official inspection of Shanghai came out, an analyst quickly compared it with the "South Tour" of the late Chinese leader Deng Xiaoping.Iconic events.

However, this trip to Shanghai after three years was officially tuned as "a very important milestone significance" and "made a new strategic painting" for the development of Shanghai, but it did not cause enthusiasm in the marketrepercussions.The stock market's emotions continued to be low, and there were not many folk discussions. Even the business community, which was particularly sensitive to policy signals, was still watching the next actions.

Compared with Deng Xiaoping's south tour in 1992, China's official "Shanghai Investigation" this year is indeed similar, but it is more different.

The background of

Deng Xiaoping's southern tour is the great impact of internal and external changes in the 1989 Tiananmen incident and the disintegration of the Soviet Union in 1991.Economically, China faces the economic sanctions, foreign evacuation, and market weakness of the Western governments; politically, whether the CCP's leadership continues to promote the differences in reform and opening up, "the surname is still the surname is still the surname" caused public opinion, reform and opening up, reform and opening up, reform and opening up, reform and opening upFacing unprecedented resistance.

In such a major environment, Deng Xiaoping inspected many southern cities such as Shenzhen, Zhuhai, Guangzhou, and Shanghai in the spring of 1992. During the period, he supported the market economy and reform and opening up.There are few popular golden sentences, such as "development is the last word", "whoever does not reform, will step down" and so on.

The southern tour faded the ideological dispute around the reform, re -accelerating the stagnant reform and opening up process, and promoted China to enter the market economy and global fast lane.

Similar to 30 years ago, when China officially visited Shanghai, China also faced huge internal and external pressure: manufacturing procurement manager index (PMI) shrinking for two consecutive months, showing that the economic recovery momentum weakened again; overseas overseas; overseas overseas; overseas overseas; overseas; overseas; overseasDirect investment (FDI) appeared in history in the third quarter. The international rating agency Moody's Moody's this week also lowered the Chinese rating outlook to "negative", indicating that investors are losing confidence in the Chinese market.The weak real estate and the high -built local debt are still the sword of Damocaris hanging on the overall economy.

Chinese officials choose to investigate Shanghai at this time, obviously fancy the symbolic meaning of this economic town and financial center, and hopes to release signals that boost market emotions.As a Chinese city that has gathered at most foreign companies, Shanghai also shows an ideal place to expand its determination to open up and reshape the confidence of investors.

However, during the five -day inspection period, he reiterated more about the previous discussion and did not put forward any new views. For example, Shanghai's mission to focus on the construction of the "five centers", insist on "two unshakables", build the international internationally to build the internationalThe first -class business environment stimulates the vitality of various business entities, and enhances the attraction of high -end resources at home and abroad.

From the perspective of official media reports, there are not many ink for "reform and opening up" in the speech, mainly to ask Shanghai to continue to be the national reform and opening up vanguard, "comprehensively deepen reform and opening up at a higher starting point, enhance development momentum and competitiveness"" ".As for the specific deployment, whether it is to promote the comprehensive reform of the Pudong New District or the pressure testing of the pressure test in the Lingang New Area, it is a previous plan.

This is not only difficult to boost market confidence, but also some observers believe that the decision -making level is helpless to the current economic difficulties in China, even if they come to Shanghai, they can't do anything.

Under the political pattern of "setting in one" today, the demand for consensus consensus and holding controversy is not as urgent as 30 years ago.However, in the environment of internal uncertainty and turbulent international situation, from the people to merchants, from private enterprises to foreign capital, it needs to be clearly stable to stabilize the expectations; especially in the past three years, the rigorous epidemic prevention has caused small and medium -sized enterprises to hurt the vitality.The industry's rectification has caused the private economic confidence to be frustrated, and the new version of the anti -spy method has made foreign companies in China.

Shanghai, which has been closed for two months last year, is the epitome of China's old economic injury and adding new pain.On the occasion of China's official visit to Shanghai, an article entitled how tragic the Shanghai economy was on the Internet was hot on the Internet. It warned that the vacancy rate of Shanghai's writing building was high, tax increases slowed down significantly, and financial liquidity was about to exhaust.

It is not difficult to find that the starting point of "Shanghai Cha" is not re -starting to promote reform, but to restore investors' confidence in the Chinese market by showing high -level emphasis on economy, finance, innovation and opening up.However, after several rounds of "commitment bombing" this year, the interviewed companies have said that they can pay more attention to whether the government can do it, such as to what extent the financial market is open?How to relax cross -border data transmission control?When will the list of housing companies' financing sponsor come out?

Another example, when will the Third Plenary Session be held?

The Third Plenary Session of the 20th Central Committee of the Central Committee of the Central Committee at this time has no news so far.This highlights the many variables facing the situation in China, and also exacerbate market panic to a certain extent.

It is expected that the "Shanghai Excelle" is as important as the same important role as the southern tour of the year.At the moment of the overall confidence, the greatest significance of this inspection may be that the market is expected to reinvigorate the future policies.And how long this expectation can last depends on whether today's promise can also speak and sound.