Finance is a relatively special industry, and China's financial industry is different from the financial industry of other countries, so in China, you have to recognize the dual identity of the country's rule-makers and game participants.
However, the country's capital is not aimed at profit-seeking, and the management needs a financial industry that can exert a thrust for economic development, and if you think in this direction, you can cater to the appetite of your superiors.
The last time the stock index futures were opened, there was a lot of greasy in it, and the stock index futures were actually opened under the premise that the index skyrocketed or because of leveraged funds.
Later, the stock market crash appeared, the stock index futures collapsed, the regulator took action, and the CFFEX issued the strictest restrictions in history, and each account could only open 1o positions a day, which simply stepped the stock index futures into the quagmire.
At present, stock index futures have fewer restrictions on hedging, but too strict restrictions on other accounts, resulting in a random hedging contract of several hundred lots, if it is a market transaction, it is possible to make the index fall limit or limit limit.
Han Long and a few others obviously knew the inside story, thinking of the final outcome of the battle, thinking of those high-level people who were liquidated, Song Dongyuan and several people couldn't help but tremble in their hearts.
"However, it is because of the liquidation of the old regulators that the young and strong faction represented by Governor Wang will have the opportunity to come to power, and with the country's exhibition, the new leadership has the courage and capital to push the country to strive for the leadership of the Asia-Pacific region, which is also an opportunity."
Song Dongyuan and the others thought in their hearts again.
Finance is based on a thing of the real economy, and when China is strong, China's financial power will have the opportunity to expand, and the policies of the AIIB and the Belt and Road Initiative will have the opportunity to be realized.
To use a phrase often said in the financial circle, that is, "caused by aircraft carriers, pointed by missiles, where the economy is, and where the currency is", if China is not strong, Chinese financiers like Lei Hao will definitely be treated as pigs and sheep.
So is it time to let go of stock index futures, Song Dongyuan and others are a little uncertain.
If the Thunder does not rise, everyone is more optimistic about the release of stock index futures, because it is nothing more than the old forces weighing the money.
Now that the Thunder family has gathered a large amount of capital at a very fast pace, it represents a new interest group and the greater interests that this group may obtain "There are some differences of opinion within the CFFEX, and Mr.
Lei should know that for those above, stability is the overriding premise."
Song Dongyuan spoke on behalf of several Hanlong's executive directors.
"Now the index is 38oo, the victory of the RMB foreign exchange market against the short sellers, and the rhythm of the implementation of the financial market, if the stock index futures are successfully released, it is a great achievement."
Lei Hao explained a few words.
Everyone understands the reason, Song Dongyuan's group of people is even betting on both sides, and the new financial regulators also hope to open stock index futures, if this is done, Wang Huachen's group can completely replace the old group and completely control the situation.
But if it fails, the impact is also quite large, and the people in the official face don't care very much about the loss of money, and if there is a possibility of losing power, it will be a catastrophe.
Therefore, Song Dongyuan said "what kind of policy is most beneficial to us", but Hanlong has already made a decision.
Loosening certain restrictions should be the answer given by the regulator, for example, it used to be 1O lots, but now it can be 5O, 1oo, and go to more than 100, the possibility is not so great.
"Since it was a mistake to fully launch stock index futures, the regulator will not repeat the mistake."
"The gradual relaxation of restrictions is a more reasonable inference."
"Diving can trap the dragon, there is always thunder, will our potential opponents let the stock index futures completely open?"
Everyone explained with a smile, and by the way, they praised Lei Hao a few words.
Listening to these words, Lei Hao was noncommittal, but he had his own calculations in his heart, he didn't speak, and the scene fell silent.
"There is a possibility that stock index futures will completely relax restrictions."
Lei Hao gave up the last choice to jump back, this is not the first time he has influenced the direction of the reality exhibition, "Under the premise that the outflow channels of funds are blocked, and under the premise that there are not enough profits in other capital markets, this year's stock market is not surprisingly good, which everyone does not object." ” In the living room, everyone in the audience nodded.
Don't look at the collapse of the stock market some time ago, but that was when it rose by more than 1,000 points, and compared with the current index, the stock market has also risen by more than 2o, which can already be regarded as a bull market.
Therefore, the argument that the stock market is good has been confirmed by the market.
"The short-term money shortage some time ago, in the final analysis, was that the funds were transferred too much, where did the money go to the financial market" Lei Hao continued: "The funds entered the stock market and pushed back the industrial exhibition, in fact, there were already signs. ” "Stock index futures sometimes help rise and fall, but sometimes, it is also a tool to stabilize the health of the stock market, with the current situation, it is impossible for the regulator not to see it."
Lei Hao finally said: "If they want to let go of the restriction of 1oo hands, why not completely let go of 1oo hands and completely let go of it is not much different from completely letting go." ” Money is profit-seeking, and the stock market is also a strange thing, if the money is profitable, it will pour in, and when the influx of funds exceeds a certain limit, you will suddenly have some more money, and the cake can be made bigger.
This is the process of the stock market beating the drum and passing the flowers, where the risks and benefits accumulate, and in the end, there will be an explosion with a "boom", and the dead people will be one by one.
If there are stock index futures, then because of the drive of interests, the original long funds will see the prospect of short interests in the stock index futures market, and the long and short will be diverted, and then hedged on the stock index futures to offset the unhealthy upward trend of the stock market.
This is the embodiment of the health of the financial market, this is what the financial regulators need to see, and this is the reason why China tirelessly pursues financial marketization.
Stock index futures will definitely be unlocked, whether it is step-by-step, or one-step, depends on the reality of the exhibition, and now there is this opportunity, done well, we can eliminate the likely unhealthy stock market outlook, the stock market risk diversion to the stock index futures market.
Everyone understands the meaning of Lei Hao's words, but the financial market is full of variables, and the benefits are proportional to the risks.
Song Dongyuan looked at the rest of the people in the living room who were trustworthy and had passed the identity test, and couldn't help but exchange a look, and Song Dongyuan stood up to explain their views to Lei Hao.
"It is very difficult to completely liberalize stock index futures
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