The Beijing government is tightening control of the technology industry and this campaign causes the Chinese stock market, making international investors doubtful.02 / 4: 30 nikkei Asian Review, home Fraser Howie - co-author Red Capitalism: The Fragile Financial Foundation of China's Extraordinary Rise - Describe an investigation for the Didi Global car called the latest movement in the "clash between the Chinese technology industry and Management agencies ". Beijing authorities are tightening technology control after years of loose. The impact of the suppression campaign is evident in the stock market. At the end of last year, Fintech Company (Financial Technology) Ant Group of the billionaire Jack Ma was asked to postpone IPO (release shares to the first public)
. Didi has a china management agency Immediately after IPO on New York (USA). The Chinese Network Space Management Department requires application stores on the smartphone to remove Didi's application, making this company take millions of new users. Chinese cyberspace management requires customers Use the smartphone to remove Didi's application as soon as the IPO company on the US
Photo: Reuters. FRASER HOWIE changes in Fraser Howie, said Beijing's pressure to remember Mr. Yang Huaiding, the first stock millionaire during China's reform period. After giving up the steel training in the late 1980s, Mr. Yang began trading shares. At that time, most Chinese people had never heard of them. After the first stock issuance took place at the end of 1979, state-owned enterprises across the country also began to issue shares. However, in the next decade, the transactions are still quite messy. The official trading platform only appeared in 1990. In the first phase of fluctuations, some investors won big
When foreign investment poured into China in the early 1990s, rampant stock fever everywhere. Hundreds of rural investors like Mr. Yang tried to bring the market stronger. Stock prices are now far away from the value of the first Huaiding, China's first stock millionaire, which is a period of innovation And testing, promoting state-owned companies to apply standard structures to be able to interact with foreign entities. The Chinese government also learned how to control the control by becoming a shareholder. The market was still supervised by the Chinese People's Bank. The central bank handled inefficient IPOs in Shenzhen caused a riot. This promotes a separate stock market management agency. In 1992, Shenzhen trading platform trading a total of 43 billion yuan (US $ 6.63 billion) in the whole year. For comparison, last month, the average daily trading scale in Shenzhen is 555 billion yuan. "Stock prices are far away from its value," said Yang to comment. Chinese market is often governed by crazy speculation. That leads to a series of bubble explosions every 5-6 years. The market has changed a lot from Yang's period. But some remain the potential. The potentially broke with a regular break-in, long-term investment in general does not work effectively, while short-term speculation prevails. Retail investments have changed significantly thanks to online transactions. But the money is mainly controlled by private funds. "It is impossible to consider China to be the country of stock investors," said Howie analyst on Nikkei Asian Review. Mr. Yang's success and other investors have certainly helped promote the market in the early days. But it is clear that there is no way to return to the original pristine stage. Bringting through the stock release is a necessary step to prepare for Chinese businesses to do bigger things. However, Restrictions on the actual scale of the market and the caution of legal risks have caused many Chinese companies to issue stocks on foreign floors. That model still takes place until today. Didi is the latest Chinese company on the United States. Chinese financial systems still do not allocate capital effectively. Too much money is poured into hot policy or stock goals. "Mr. Yang's judgment on prices and valuing stocks is completely accurate," Howie expert said. In the past decade, Chinese companies like Alibaba of Jack Ma billionaire have mobilized about 76 billion USD through the issuance of shares to the first public (IPO) in the US. Photo: Reuters. However, Beijing is now afraid of Chinese businesses listed on the foreign floor. The US market has been considered an important source of capital that China cannot be replaced. In the statement of July 6, after Christi, the Chinese State Council said it would improve regulations and laws France involves data security, cross-border data streams and confidential information management. KH . Dịch vụ:
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