A Shares Are Entering The System From Panic Period, And The Market Is Promising.

Many people recall the situation in November 16, 2012 that dividend dividends were paid differential personal income tax.

At that time, the stock market was sluggish, and the Shanghai stock index was the lowest 2001 points on that day. After the twelfth trading days after the announcement of the tax preference policy, the Shanghai Stock Index proved to have a big rebound of 25% after 1949 points.

There are two options for rational investors. One is to choose a relatively high reliable firm to invest in a long-term and lower tax costs. The other is to buy a good stock holding company with low price after dividends.

Trading volume declined and financing balance declined, and the market returned to the typical bottom downturn.

At this point, the management has introduced new policies, which are not only a few mistakes in the past, but also a long-term focus.

The stock market entered a period of institutional reconstruction from the panic stage.

First of all, the liquidation of capital allocation has entered a critical stage. This is an important period to go to opaque leverage and bring capital into regulation.

If the off-site uncontrollable leverage is removed, the pmission capacity of risk will be greatly reduced.

So far, management has launched three rounds of liquidation.

It is one of the sources of risk.

In the market downturn, for the allocation of funds to clean up step by step, indicating that the decision-making level is determined to clean up the lever, and resolutely cut off uncontrollable off-site operation.

The second is to establish.

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When the market is in panic, the time and space for the market to gasp and restore calm are aimed at reducing the volume of pactions when the market goes crazy, so as not to make a wrong judgement.

The wind vane is the Shanghai and Shenzhen 300 index.

The CSI 300 index is used as the benchmark index of index melting, setting 5%, 7% and two index fuses threshold, all of them are fusing, and every day's fuses are triggered at most 1 times. The index determines the fuse time, triggers 5% fusion threshold, suspends the paction 30 minutes, and sets the auction at the end of the fuse, and then continues the paction on that day.

After half past two p.m., 5% fusing threshold is triggered, and 7% fuses are triggered at any time throughout the day.

The fusing mechanism involves a wide variety of pactions, including all stocks, convertible bonds, separable bonds, stock options and other stock related stocks listed on Shanghai and Shenzhen exchanges, as well as all stock index futures contracts in CICC.

If this is the standard, there will be plenty of days to fuse after June.

But from another point of view, fuses will also lead to market sentiment, such as setting up several dams in a rapidly flowing stream, with the aim of smoothing the flow.

Third,

Policy encourages long-term investment to reduce speculative trading.

On the evening of September 7th, the Ministry of finance, the State Administration of Taxation and the securities and Futures Commission jointly issued a notice that individuals who have acquired shares of listed companies from public offering and pfer market for more than 1 years will be exempted from personal income tax temporarily. The duration of holding shares is less than 1 months (including 1 months). The dividend income from the dividends shall be included in the taxable income in full. If the holding period is from 1 months to 1 years (including 1 years), the taxable income will be reduced to 50% according to 50%.

This is a big concession from the relevant departments.