Bitcoin.不求人|11月 03, 2026 02:18
The government has released all the available policies, and the tools have been discussed with the central bank. There are rumors that China Chengtong Guoxin, affiliated with the State-owned Assets Supervision and Administration Commission (SASAC), will also receive a share of these tools; we'll see if there's an official announcement, or if it will be delayed until after the purchase, as it's a different entity with its own regulations. There's also a department that everyone's watching closely, but so far, they haven't said a word.
Tonight's policy package, most relevant to retail investors, is the adjustment of leverage. This isn't to encourage leverage, but rather to give accounts nearing margin calls a lifeline and alleviate the pressure of forced selling. One point here is that many stocks actually had very good third-quarter reports and could potentially turn a profit or even grow this year, but the brokerage's discount rate is zero. Therefore, adjusting leverage won't relieve the pressure from these stocks. Could the rules be adjusted to require three consecutive positive quarters (or other flexible conditions), allowing for an earlier adjustment of the discount rate? This would have a targeted mitigating effect on the current selling pressure, especially for stocks on the STAR Market.
There are also rumors of a halt to IPOs. Realistically speaking, given the current liquidity in the A-share market, it's difficult to issue large amounts of new shares; the market can't absorb the liquidity. On an annual basis, the issuance of new shares will definitely be reduced in the coming year. If it could be suspended for a month or two, it might not be a bad thing. Those in the primary market would understand the situation better, and the final round of inflated liquidity sold to the A-share market would be much less prevalent.
Policies take time to take effect, and market confidence also needs time to recover. Let's take it slow. Going from the ICU to a karaoke bar is a recipe for disaster; it's easy to fall back into the ICU in no time.
Share To
Timeline
HotFlash
APP
X
Telegram
CopyLink