(1) inflation and RMB appreciate will hit in future approach the stock market an

From;  Author:Stand originally
Rat year what building city greets is to open the door green. This does not show what issue, the stock market still accuses in the palm this year in, although want to drop greatly, also not be these two months.

From financial angle character, chinese stock market is put in risk of be issued to lower levels, inflation and RMB appreciate will hit control RMB capital fund.

Is at present China in inflation in menace? Self-evident. If the CPI index January 2008 is like Gao Cheng to predict really, achieve 7.1% , so, even if is the person of long structural sex eye, also can see inflation is in structural sex to global sex inflation spreads. Inflation means the rate that economy increases to cannot catch up with the rate that the money raises, more than issue a domain at fundamental money, also behave in respect of monetary multiplier effect.

With data of Chinese economy efficiency character, exceeded a money to increase rate really. But those who not allow to ignore is, chinese company efficiency basically is behaved in manufacturing industry, expression is in medium and small businesses, say exactly, it is to reflect be in civilian battalion enterprise, is not those profit surprise high large and state-owned company and financial orgnaization. The formation of Chinese inflation one of reasons, it is the small effect deliverance to large company and financial orgnaization.

Note endowment 4 big old Zhang for the moment does not break up, with now the deliverance with future, what the company that collect gold went to Guang Dayin last year in November is buy note endowment, purchase Guang Dayin to go with every 1 yuan price 20 billion yuan of share; Meanwhile, in state-owned bank reform gigantic without bully of agricultural bank note endowment, it is reported, the company that collect gold will be the fastest in April the bottom is noted to the Agriculture Bank endowment, amount will be in 45 billion to 50 billion dollar between. The capital may not of these infuse can allow the damage that collect gold, rather, after smooth big bank appears on the market in year this year, predict the company that collect gold can be obtained exceed decuple excessive value; And the target of the Agriculture Bank is appear on the market before 2010, investor of the strategy outside collecting gold and place can obtain excessive price likewise. These before sunken cost, is adscititious finance orgnaization abroad if is investment medium where did the loss that projects pair of Hei Shi go? By taxpayer, investor and achieve collect an orgnaization to be made up for jointly.

If traded the efficient company that has market idea these relief, investor is obtained make have call in the hope of bonus. But the problem depends on, in the method that these companies recombine, appear on the market financing builds everything needed is ready of system of board of directors, be deficient in namely commercialize machine of choose and employ persons to make this one crucial segment, whether does so self-given banker, entrepreneur possess the qualification of banker, entrepreneur, examine without what pass the market. At present their appear on the market excessive price, it is the result of special treatment, be forestall social status reflect, but whole, advocate if these are far,share the Chinese economy bonus, profit that gets production business than making the orgnaization of business small effect, get the RMB appreciates result of excessive price macrocephalic.
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