China'S Stock Market Is Basically Dependent On Retail Investors.

With the end of June this year, we quickly stepped into the July time.

However, since July 1st this year, the securities and futures investors' appropriateness management measures have been formally implemented. This is also a landmark event in China's capital market this year and is expected to bring more attention to the market.

From the relevant rules, since July 1st this year,

Natural person investors will be divided into two categories: "professional investors and ordinary investors".

For ordinary investors, it will also enjoy special protection in information disclosure, risk warnings, appropriateness matching and so on. This is also to a certain extent, protecting the vital interests of investors.

But can investors really protect retail investors with the implementation of appropriate management measures?

It is undeniable that investors' appropriateness management measures have really played a better role in market regulation.

For the A share market, this is also a legally effective law and regulation. In the future, it will bring healthy development to the market from more detailed and targeted aspects. It will bring more or less beneficial influence to the investors' vital interests.

We should pay attention to risk warning, appropriate management, and pay attention to investor classification and product grading. This is the most important part of investor's appropriateness management.

Through information disclosure, risk disclosure and other measures, in fact, can also play the purpose of protecting investors, but the actual effect still depends on the final implementation effect.

However, under the market environment of "you have Zhang Liang Ji, I have a wall ladder", I can not exclude some institutions from walking a little bit. But under the interest driven, the actual risk warning effect can not be guaranteed too much, and the final protection result depends on the investors themselves.

For a long time, China

Basically, it is inseparable from the situation dominated by retail investors.

In contrast, institutional investors are slow to develop and the overall share is far below the average level of the mature market.

From the perspective of market development over the years, China's stock market is often in a state of "heavy financing and light return", and the overall return on investment of investors is not satisfactory.

Over the past years, although the wealth income of domestic residents has increased by a large margin, in the stock market, there is still a small number of investors who have a market capitalization of more than 500 thousand yuan or even more than 1 million yuan.

On the contrary, it is more common to have a market capitalization of less than 500 thousand yuan.

Perhaps, for investors with a market capitalization of less than 1 million yuan or even 500 thousand yuan, they can be called ordinary retail investors.

Under the actual circumstances, there are many retail investors in the domestic stock market, but often because of lack.

Advantage, cost advantage and information superiority, they are more likely to be in the inferior position in the market.

Over the years, retail investors have lost a lot of money in the market. If they occasionally encounter a round of irrational market capitalization, the average stock market value of retail investors will also shrink dramatically.

As for the retail investors who are part of capricious operations, they are easy to get into stocks such as deficit stocks, problem stocks and delisting shares in the absence of rational market judgement. Once the stock is forced to withdraw from the market, the retail investors who seek to rise or fall in the non claim range are more likely to suffer heavy market risk.

In the end, asset appreciation failed, but the principal cost was lost.

Indeed, for the Chinese stock market, the market has been more speculative and fluctuating for many years, and the risk awareness of retail investors is not high enough, and the overall investment vigilance is not strong enough.

As a result, repeated losses in investment are unavoidable. With the advantages of large capital and large organizations, the status of retail investors will be even more difficult to protect, and the re allocation process of stock market will not be reasonable.

Nowadays, investors' appropriateness management method not only emphasizes risk warning, information disclosure, but also categorization and division of products or services, and covers a relatively wide range, so as to improve the level of appropriate management.

This, to a certain extent, can still play a role in protecting retail investors.

However, it should be noted that although the investor's appropriateness management regulations are relatively strict and comprehensive, it is not not allowed to allow some retail investors to enter, but also need to go through some risk warning processes, so as to better reveal the effect of market risks, and retail investors want to invest in the market, and it is not difficult.

However, in the final analysis, the vital interests of retail investors can be substantially protected. The core is not the content of the rules, but also the situation of retail investors themselves.

If retail investors are still keen on short-term speculation and frequent trading, there will be no more rules to change their speculative behavior. The size of the loss is also difficult to control.

Risk warning, information disclosure, appropriateness matching and so on, do play a more or less guarantee role for investors, and play an important role in standardizing the operation of the market. This is also a useful part of this rule.

However, for the time being, although the implementation of the measures is coming, we should follow more detailed and targeted implementation details.

Investor protection is no longer a new topic.

However, for the Chinese stock market, the characteristics such as short holding cycle, high paction frequency and weak sense of risk have become the true portrayal of many retail investors.

However, this can not be entirely attributed to them. Under the environment of market trading rules, market information and asymmetric capital cost, there are even some institutional investors who are more opportunistic than ordinary retail investors. This has led to the wrong guidance and brought adverse effects on the standardized operation of the market.

Thus, it is still very important to build the trading environment of "three heroes".

As for the perfection of civil compensation mechanism and the improvement of investor's claim efficiency, it is also to a certain extent, to enhance the protection of investors' vital interests.

However, the protection of retail investors is not to see the implementation of a single policy, but to promote the joint efforts of many aspects. The risk awareness, trading behavior and shareholding cycle of retail investors are also important to protect their own interests.

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