Multi-sectoral cooperation in stock pledge risk release
After the role of the stock pledge risk system in 2018, the equity pledge risk of equity-listed companies has been released to some extent. It is generally believed that this risk will be gradually resolved.
On January 3, Yang Ouwen, the head of the financial product team of the Sichuan Financial Securities Research Institute, said in an interview with the “Securities Daily” reporter that “the market value of stock pledges below the closing and warning lines at the end of 2018 has decreasedWith the gradual availability of special funds for conversion, the risk of stock pledges is still gradually being resolved.
At the same time, stock pledge and mortgage as a reasonable financing channel, the number of transactions in 2019 may continue to grow steadily.
In order to resolve risks, maintain market stability, and better serve the real economy, in the second half of 2018, policies will orderly guide securities companies, insurance companies, local governments and other financial institutions in the capital market to set up special products to invest in stocks with higher risks of pledge.enterprise.
Since the third quarter of 2018, financial management departments have coordinated and guided, promoted locally, and market consensus has resolved the initial establishment of a stock pledge risk system mechanism.
Local governments have acted in various ways to assist listed companies in various ways.
Governments in Shenzhen, Beijing, Zhejiang, Guangdong, Shanghai, Xiamen and other regions have issued plans to set up rescue funds; at the market level, the Shanghai and Shenzhen Exchanges issued special bonds for relief.
Various market entities actively assisted in raising funds to mitigate the risk of pledged mortgages, such as securities companies, insurance institutions, private equity funds, etc., actively joined the teams that eased the pledge of listed company stocks.
Some people believe that the financial sector works together to provide guidance and coordination. Market participants will postpone settlement and breach of contract through measures such as negotiation and extension, supplementary guarantees, etc., and will reduce the risk of market stampede.
In addition, the new holdings reduction policy, liquidation mechanism, and judicial proceedings also played a role in risk mitigation.
Yang Ouwen said that from the perspective of the industry and individual stocks, electronics, chemicals, media, textiles, clothing, pharmaceuticals, and biological industries have obvious early-stage risk exposures. Combined with the stability of incremental funds, long-term value investment style, and the characteristics of equity investment, it can be predictedHigh-tech industrial enterprises with stable operations, strong profitability, and strategic planning may be relieved of 武汉夜网论坛 funding pressure.
And in this process, financial institutions will be more directly involved in the real economy, reducing the financing costs of industrial enterprises while better serving the real economy.
”Market entities should be more rational and objective in dealing with stock pledge risks. To completely resolve stock pledge risks, companies still need to exert their initiative and solve stock pledge risks.
On January 3, a chief person told a reporter of the Securities Daily that during the process of relief and risk mitigation, the supervisors always adhered to the principles of marketization, rule of law, and classified policies.Definitely clear.
In particular, some controlling shareholders have shown serious behaviors such as illegally occupying listed company funds in the process of disposing of their own risks, and held strict accountability.