New impetus to the stock market

Disney on Shanghai's economic potential role in boosting the market has recently become a topic of major concern, the relevant regional real estate market data for all of fashion is also a quasi-operation in the past because of a lack of coordination often led to the failed weak, started yesterday in Shanghai Integration of listed companies battle system. In addition to the traditional integration of the assets, more importantly, to promote major construction projects to protect the people's livelihood and social projects. Yesterday, the Shanghai local shares of large-scale trading Ruoshi become a major bright spot. Operational characteristics of the system significantly November 20, Shanghai state-owned assets through the capital market to enlarge and strengthen the formal program was finalized. Prior to the September 1, "on the state-owned assets in Shanghai to further promote the development of a number of state-owned enterprise reform" has been introduced. And "a number" only provides a framework of development, Shanghai state-owned listed companies rely on capital markets, specific way is now clear that the overall market, issuance of shares, mergers and acquisitions, stocks are moving policy support and encouragement. Central enterprises listed companies so far failed to integrate the extremely rare event, but local state-owned integrated not only Haoshiduomo, and announced the suspension as a result of major events after a few failed of the most important cause for that lack of central enterprises that kind of system operations . In the absence of system operations, mainly in the Bing finance, real estate, core industries and transportation in the area of the four trillion yuan on thousands of local state-owned hard to smoothly enter the capital market. Shanghai State-owned state-owned enterprises to promote reform of the series, it can be said that the systematic integration of local state-owned listed companies to operate the extreme. At present, there are more than 10 provinces and cities have been issued to encourage the integration of state-owned listed companies specialized documents. Beijing SASAC issued the "Beijing SASAC on the city speed up the work of the state-owned enterprises listed on the guidance", is also fighting the system through the integration of listed companies of strategic planning. "Guidance" made it clear that at the end of 2010 and strive to form a clear main business, improve governance, strong profitability of state-controlled Beijing is a cluster of listed companies, as a whole or main assets of listed companies from a current 10 to more than , Municipal state-controlled listed companies from the current number of 37 to 60, more than 30% of the city to operate the state-owned assets into listed companies. And similar to the Shanghai and Beijing are also listed on the state-owned assets provided a clear path and the way: a corporate restructuring as a whole or after the main assets of the initial public offering or backdoor listing on the stock exchange; for the main business association is low, do not have The overall level of the enterprise market conditions, can promote the competitive advantages of high-quality assets or businesses on the stock exchange; listed companies have an enterprise resources, will be the relationship between upstream and downstream industries, industries associated with a high degree of corporate assets or equity injection of listed companies . Judging from the present situation, through the state-owned listed companies become bigger and stronger, is facing an unprecedented environmental good. It is understood that, in addition to the first single M & A loan is expected to occur soon, M & A transaction tax the implementation details in the near future will also be introduced. The State Council on November 9 release of "expanding domestic demand and increase security," the 10 measures, made it clear that commercial banks should be to provide credit support for the merger and reorganization. In addition, the voice of the industry's higher income tax details of the deal is expected to be introduced in the near future. To meet certain conditions, were identified as a special reorganization of the M & A transactions can enjoy tax-deferred. The use of capital markets to upgrade Integration of local listed companies to highlight the battle system, intended to seize the financial crisis brought about rare opportunities for development. Shanghai, according to the official final version of the program, Shanghai and the capital market integration is not limited to assets, but rather to support a major construction project to protect the people's livelihood and social projects. It is learned that Shanghai will also strengthen the credit policy and industrial policy coordination. Preparation of the financial resources and the establishment of a social investment project to coordinate the work of the docking mechanism of supply and demand of funds flow channels to resolve the financial support of the economic and social development issues, and guide financial institutions in the banking sector on the economy to increase credit support. In Chongqing, a combination of the length of the goal has been clear: to continue to encourage a group of high-quality state-controlled groups and private enterprises listed Chongqing to encourage listed companies through mergers and acquisitions, asset restructuring bigger and stronger. Through mergers and acquisitions, reorganization of assets to achieve strong cooperation, complement each other's Chongqing listed companies, the government will, resources, in areas such as taxes and fees be tilt. 2012, Chongqing's total market value of listed companies to 8,000 billion yuan, with GDP ratio of 1:1 has basically taken shape. In order to seize the financial crisis brought about rare opportunities for development of various parts of the capital market as much as possible to give rather than take the request to support the strategy. Not only a clear request of the state-owned and state-owned controlling shareholders of listed companies in the future a certain period of time not to reduce "the size of the non-", Shanghai SASAC has also encouraged the controlling shareholder equity holdings of listed companies, in support of listed companies to buy back shares. At present, New World (market share it), the pencil Chinese (market share it), Bright Dairy (market share it), Jin Feng, and other wine listed companies have been owned by the country's holdings. Shanghai SASAC noted that the state-owned enterprises should be to promote the healthy development of capital market stability, positive force, the Shanghai SASAC supervision of state-owned enterprises, investment holding company listed on the capital market should be set an example. Push up stock of the new engine All over the systematic campaign to promote the adoption of a listed company's integration, and seize the financial crisis brought about rare opportunities for development, which may push up the stock of the new engine. Shenyin Wanguo (market share it) of the Securities Institute of Research analyst Yun-an, a good investor is expected to be able to overcome the market to decide the proceeds. Yun-an said that on the whole of central enterprises listed on the integration of assets and investments, almost throughout the entire bull market. Due to the existence of good expectations, although the cash assets into a real commitment to the central-owned enterprises listed companies much, but their performance of the stock price significantly outperform the market. Central investment in listed companies as a whole catalyst for the success of the two Wuwai Hu: policy and an example of. Promotion exists in almost every theme running nodes, and the overall number of large state-owned enterprises listed on the market further to a strong demonstration effect. An Yun said that investment in the central process of corporate restructuring can be seen clearly in three parts: the expected phase, and the results reflect the effect of thickening. The thickening effect refers to the use of high-earnings ratio of listed companies to buy assets when the low-earnings ratio of one-time EPS and thickening of the BPS, referring to reflect the performance of the assets into the listed companies to improve profitability, making the future of the EPS growth to accelerate It can be expected. If the injection of quality assets, or assets of the existing listed companies and create synergy, it entered a return much higher than the first two stages of performance reflects the stage. The industry believes that local state-owned assets total more than the central large-scale enterprises, and the use of capital markets around the upgrade operation to enlarge a better way to stimulate the effect, so as soon as possible into the fundamentals of listed companies to enhance the possibility of greatly increased. In this case, promising to form a new push up the stock engine.