(Hao Xuguang) Make a good move to boost the real economy
(Source: Sina Finance "Shanghai Securities News" 2020-03-28)
Recently, the huge fluctuations in the global stock market have posed challenges to the stable operation of China's securities market. How to maintain the security of the securities market? At present, we should learn from the Federal Reserve’s hasty use of monetary policy tools to cause market panic, and focus on supporting the resumption of work and production, restoring production order, and boosting the real economy, rather than focusing solely on the stock index itself.
The U.S. stock market, known as the leader of the world's stock market, has experienced meltdowns four times in two weeks. The magnitude of its fluctuations is extremely rare and should arouse our vigilance. At present, the number of accounts opened in the Shanghai and Shenzhen stock markets has reached more than 160 million. The securities market has widely penetrated into all fields and classes of society, affecting all aspects of social life. Once there is a large market system risk in the securities market, the impact on the entire society will be extensive and far-reaching.
The securities market will be affected by investors’ expectations, and expectations are related to confidence. To sum up, factors that affect participants’ confidence include the smooth operation of the macroeconomy, information, and the quality of listed companies. Among them, the most important thing is the smooth operation of the macroeconomy, and this depends on the current situation of resumption of work and production across the country.
Therefore, the focus now must be on supporting the resumption of work and production, restoring production order, and improving the performance of listed companies. Only when the real economy develops steadily can investor confidence have a solid material foundation.
We recently conducted in-depth interviews with five chairmen of large, medium and small enterprises in Beijing, Shandong, Fujian, Jiangxi and other regions that have resumed work for more than a month, as well as dozens of officials at the county and bureau level in Shandong. Through research, we believe that whether local small and medium-sized enterprises should resume work should be determined independently by the enterprises after calculating their own profits and losses. Large enterprises must resume work, but the biggest obstacle to resumption of work - isolation issues, etc., need to be considered as a whole. While the possibility of the epidemic spreading in most areas is low, the main reason why the resumption rate is not rising rapidly is that some areas are unwilling and afraid to take the risk of the epidemic spreading again. Therefore, try to eliminate their psychological burden.
First, solve the isolation problem of non-local employees returning to the company. For entrepreneurs, profit and loss must be considered. The reason why some companies dare not resume work is that the market is not good, downstream demand is low, resumption of work is not enough to make a profit, and they have to bear employee expenses. But the biggest obstacle is that non-local employees need to be quarantined for 14 days when they return to the factory. Therefore, local governments need to provide certain support to enterprises based on their financial resources. Enterprises should strive to care about the psychological state of employees during the isolation period and provide sufficient financial help.
Second, change your mindset. Due to the special nature of the COVID-19 virus and the spread of the epidemic around the world, it may be difficult to completely eradicate COVID-19 within a few months. We must be mentally prepared for a protracted battle to coexist with sporadic viruses. Therefore, we should have psychological preparation and contingency plans for the re-emergence of individual cases or small-scale infections, and eliminate any incentive to conceal new cases in any place in order to prevent new cases.
Third, use big data to make national information traceable. The health management of employees can be pre-positioned, shared, traceable, and traceable. Pre-positioning and sharing means that before employees leave their hometown, their health information has been delivered in advance by the hometown, township and town level government to the government management department at the employee's workplace. Traceability and traceability means that in order to avoid fraud, responsibilities should be traceable and the working status and whereabouts of employees can be traced. When employees come to the company's premises, in addition to taking their temperature, they should also be asked to scan the QR code of the telecommunications company on their mobile phone, so that their previous whereabouts can be seen at a glance. After the implementation of these measures, we can also accumulate experience and make preparations for the future peak of college students returning to w88 casino and migrant workers returning to the city.
Attached original link:
http://finance.sina.com.cn/roll/2020-03-28/doc-iimxxsth2213330.shtml?tj=none&tr=1
