Coquettish Rebirth

Full text without advertisement Chapter [-] The stock market and the common people

"Just a junior high school diploma?" Xu Long stared at Jing Guoping for a long time when he heard this, and then said, "Old Jing, don't lie to me!"

"Why am I lying to you? Seriously, if Mr. Jia isn't here for something, you'll know it by yourself!" Jing Guoping's reaction at this time was almost the same as Xu Long questioning himself.Full Text No Ads

"Then your boss really has such an educational background? Did you really graduate from junior high school?" Xu Long really believed it at this time. "Really! If I lie to you, I'll be a puppy! Okay?" Jing Guoping said.The combined age of the two people is over 100 years old, but now they speak like elementary school students!

In fact, not only Xu Long, but also other performers of the Shanghai Film Orchestra feel the same way.With their decades of experience immersed in the music field, even if the person who can compose this kind of music is not a professional, at least they must have learned music theory since childhood!Otherwise, ordinary people can at most hum a good tune, which is only suitable for one instrument at most. Duanduan will not be like the rhythm in the current piece, which is obviously designed for multi-instrument ensembles!And how can someone who can compose more than a dozen songs with completely different styles, such as electronic music style and folk music style, be a junior high school graduate who has never studied music theory?

When the performers of the Shanghai Film Orchestra discussed in private, it seemed that everyone was full of curiosity about Mr. Jia from Huamei Animation.They really wanted to know how old Mr. Jia was, what he looked like, whether he really had such a talent for composing music, and whether he was really a legendary genius...

While everyone was guessing who Jia Hongjian was, he himself was looking at the "People's Daily" with a serious expression.What is it that makes Jia Hongjian, who is smiling all day long, so serious?And what is it that makes him free to read the "People's Daily" after wandering around all day?

原来，这篇《人民日报》上刊登的是一篇长篇经济分析文章——《“七五”以来的报告》。在这篇报道中用极大的篇幅讨论了从91年到94年这3年半的时间里面跟1986-1990的“七五”时间段经济数据对比，从而发现了国优企业面临的三大困境——

"First, losses remain high. The number of state-owned enterprises losing money is increasing at an annual rate of 14.2%, with an average annual total loss of more than 500 billion yuan. Among all loss-making enterprises, state-owned enterprises account for more than 70% The second is that the utilization efficiency of enterprise funds is low, and the inventory products are growing at a rate of 30% every year, at least 10% higher than the growth rate of production! Third, the comprehensive economic efficiency index of state-owned industries has dropped by 5.4 percentage points compared with the "Seventh Five-Year Plan" period, and the state-owned Enterprise capital profit tax rate and cost profit rate are lower than non-state-owned enterprises..."

At the end of the article, it also specifically announced that the country will announce the list of the "Hundred Modern Enterprise System Pilot Work" in the near future, and at the end of the article also specifically introduced the meaning of this "Hundred Modern Enterprise System Pilot Work"-the State Council will A total of [-] enterprises, including state-owned, joint-venture and private companies, were selected across the country, and these enterprises were urged to establish a modern enterprise system. The workers' congress should be established to allow employees to participate in the company's major decision-making. Join the board of directors as an employee representative. At the same time, any vital interests related to employee wages, rest, working hours, etc. must be communicated with the employees in advance...

Looking at the last part of the article "Hundreds of Modern Enterprise System Pilot Work", Jia Hongjian really felt miraculous!Is there such a thing in history?If there is such a thing in history, then why did he often work overtime for free after graduating from university?Is this an appearance project or the butterfly effect?In his previous life, he was still young at this time, and he didn't pay attention to the affairs of these business circles at all. Now he is still a little confused.

But this stuff is not important, what is important is that Jia Hongjian saw other things in that stereotyped economic analysis article!What is it?That is the loss of state-owned enterprises!Now that the inflation rate is more than [-] to [-] percent, the state-owned enterprises must be in a mess, and even some factories have just sold their products, and they are surprised to find that the money recovered even buys raw materials. The prices are not enough!At this time, will the country abandon state-owned enterprises?

Release will only let go of small and medium-sized state-owned enterprises, so what about large and medium-sized state-owned enterprises?By state funding?Last year, the central government was too poor to pass the new year. Even if it was changed to a tax-sharing system this year, the first half of the year has not yet passed. How can there be so much money distributed to state-owned enterprises?Or with a bank loan?When the current deputy prime minister came to power, he also served as the governor of the central bank. The first thing he did was to clean up the triangular debts and bad debts!If state appropriations and loans are not enough, how can we give blood to state-owned enterprises?What else can be done besides throwing state-owned enterprises into the stock market?

The hot stock market in the early 90s left a deep memory on the central government. Seeing a few soft-footed crab-like soft persimmon collective companies listed and instantly made a sum of money, this can still prevent the central government from remembering the stock market. energy?And after the Shenzhen-Hong Kong subscription certificate incident in 1992, the power of that stock left a deep impression on the central government!

What is this Shenzhen-Hong Kong subscription certificate incident?It is the rush to buy subscription certificates for Shenzhen Stock Exchange IPOs!Similar to the "stock madness" caused by the Shanghai Stock Exchange in the 90s, another stock trading center in southern China, Shenzhen and Hong Kong, also experienced a burst of madness.When Shenzhen Stock Exchange started its trial operation in 90, no one knew that this stock could still make money, so subscription certificates such as Shenzhen Development Bank were issued to people on the street, and no one wanted it!Afterwards, not long after it was listed, the Shenzhen Stock Exchange went into a "stock madness", and the stock prices of all listed companies soared!At this time, everyone knows that stocks are a tool for getting rich, so all people in Shenzhen and Hong Kong start to snap up subscription certificates for new stocks.

They didn't even know they were from Shenzhen and Hong Kong, but even people from Yangcheng and even the entire Lingnan Province frantically ran to Shenzhen and Hong Kong to snap up stock subscription certificates!At that time, I won’t say what price a subscription certificate for any new stock was fired at, but just a detail—the hard-seat train ticket from Yangcheng to Shenzhen and Hong Kong was originally 30 yuan a piece, but it turned out to be snapped up by people. There are no empty seats on every train!There are too many people to squeeze in!And at what price was the train ticket sold by scalpers on the black market at this time? 200 yuan!

And it’s not just people from Lingnan who are crazy, even people from Shanghai or the three northernmost provinces are flocking to Shenzhen and Hong Kong. Became a smuggler—volunteered to lead the way through the barbed wire, charging 40 yuan per person each time!

However, the craziest thing is yet to come. In addition to people from all over the country pouring into Shenzhen and Hong Kong, some people who knew the news in advance started to secretly collect ID cards. Why?Because the subscription certificate must be purchased with an ID card!At that time, most of the post office packages in Shenzhen and Hong Kong were bundles of ID cards sent from all over the country!

What's more, they don't collect ID cards at all, but take care of people directly!Legend has it that a pair of brothers surnamed Tang transported 50 migrant workers by train from the capital of the frontier autonomous region in the northwest of the motherland to Shenzhen and Hong Kong in the southeast of the motherland at one time with a "wage" of 1500 yuan a day. What did they do?What I do is to help buy subscription certificates!These 1500 subscription certificates for new shares will become original shares when the new shares are listed, and they will enjoy a [-]% increase immediately after listing!

On August 92, 8, the day when the subscription certificates for new shares were issued, armies from all over the country really began to "charge the battle"!Tens of thousands of people crowded into a small business hall of only 9 square meters!In this 20-degree and stuffy weather like a steamer in Shenzhen and Hong Kong, when those people managed to squeeze in front of the counter, all the banknotes handed in were wet!How wet?All soaked in sweat!

Such an incident that happened in 92, can the leaders of the country not deeply remember that the stock market is a place to make a fortune?Even the "bricks" of economics in this era have discovered this secret one after another, and then wrote a letter to offer suggestions, suggesting that "financing through the stock market is a strategic choice to invigorate and strengthen the strength of state-owned enterprises."Later, the China Securities Regulatory Commission was established to hand over the rights to issue stocks on the two stock exchanges to the central government, and then implement a "index matching system" for copying national excellent enterprises in full cotton—the central government determines the listing quota. Then it is distributed to various ministries and commissions according to the system, and then distributed to each province, municipality, and autonomous region according to the region, and finally distributed to state-owned enterprises in various places...

To put it bluntly, this is an approach that does not want to enhance the competitiveness of state-owned enterprises, but only thinks about giving blood transfusions to state-owned enterprises.It is to use the money of ordinary people to support those state-owned enterprises with extremely poor efficiency, and at the same time give ordinary people a "bubble" dream of getting rich.

On the one hand, this approach solves the immediate pain of state-owned enterprises’ lack of appropriations, and on the other hand, it “surprisingly” solves the so-called “excessive growth of household savings” that economists have criticized for a long time.

problem.It's just that this kind of practice is a born deformity. As soon as this kind of practice appears, there are at least 4 congenital disadvantages!

What ill?In order to collect money, loss-making state-owned enterprises can honestly make reports to show that they are losing money, and then give up their listing qualifications to better-run private companies or other state-owned enterprises?What about state-owned enterprises that have obtained quotas but are not eligible for listing?Carry out large-scale and open fraudulent accounts!Through Shenma's various asset divestitures, industrial restructuring and other gimmicks, it went through a formalism, and then went directly to the market. Whose money was it ultimately cheated of?Isn't it common people's money?Why has the Chinese stock market been so strange in later generations?That's why!

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