Red chips intensive short-term will not return to lead with only shares or 19

CPPCC National Committee members, Commission Vice Chairman Fan Fuchun, recently said that red-chip A-share listed company rules and regulations are being developed, is expected to be introduced during the year. .Responsible person to move on to the media, said: "The company has submitted an application has been waiting for." .Market participants believe that such move this year, 19 red chips is expected to take the lead in the reunification, but the possibility of short-term return will not be too dense. .<P> Quantity: 19 red chips, or at the head <P> recently said Fan Fuchun, red-chip companies listed A shares of the relevant rules "soon" will be introduced. .This reporter learned that early last year, China Securities Regulatory Commission has instructed the Ministry issued by the issuer is responsible for audit-related work at five. .Pending promulgation, the SFC will also delineate specific pilot companies. .WIND IT <P> According to statistics, currently 91 red chips listed in Hong Kong in meet the "return" to the conditions of the total of China Mobile, CNOOC, China Netcom, Citic Pacific, China Resources Enterprise, China Resources Power, etc. 19. .This is the latest 19 companies accounted for 91 total market value of the total market value of nearly 80% of the red chips, while the average price-earnings ratio is 32.66 times the average cumulative net profit of nearly three years more than 200 billion Hong Kong dollars. .<P> Southwest Securities Research and Development Center researchers Zhouxing Zheng predicted that China Mobile, CNOOC, China Netcom is expected to become the first group return to A shares. .<P> Rhythm: intensive reunification is unlikely <P> issue of concern to the rhythm of the market, Zhouxing Zheng said, red chips pace of return of A-share market may not be too fast. ."Intensive issue is not conducive to large-cap stocks to raise funds to maximize." Zhou Xingzheng analysis, said capital markets relative to the rest of the world's listed companies, some Chinese company's unique advantage is that the two markets in Hong Kong and China to achieve the two IPO, .Thus the number of fund-raising also increased significantly. .<P> In fact, along with the China Petroleum (601,857 market, stock it), China Shenhua (601,088 market, stock it), China Construction Bank (601939 market, stock it) return to lead a series of high finance, A-share market has .Preparation of a sense of panic. .The current market has spread to move through the A share issue to raise no more than 800 billion messages, triggering the return of red chips may further increase the absorption of liquidity and valuation of A shares concerns about the pressure. .Yi Li, South <P> who said stock market, the State present on the stock market overall is still "support" the main goal of regulators is the level of market demand for IPO flat or slightly beyond, "If the current adjustment of prices to maintain .continues, the possibility of return of red chips is not dense. " .<P> Form: or by way of direct issue <P> said last year that the Commission Vice-Chairman Fan Fuchun, the Commission preferred way of red chips back directly to the IPO market. .From this, regulators will likely not consider the feasibility of launching CDR (China Depository Receipts) related to approach. .Southwest Securities Zhou Xingzheng that the return of red-chip companies house CDR, take straight hair and model A shares, in addition to CDR links involved more than A shares straightforward straight hair, the large extent also with the use of public resources to enhance the quality of A-share market .consider the core competitiveness. .<P> Executive director of NYSE Group, Asia Pacific, said Yang Ge, last year, the bank successfully issued A shares, proof of A shares listed on the market for very large projects have adequate ability to undertake, ample liquidity needs of the market is also an objective to increase supply. .<P> Impact: the mainstream diversion of funds facing <P> Sealand Securities Investment Strategy Research and Development Center Teng Jing Zhong, chief researcher believes that red-chip return to the pressure on the A shares is mainly reflected in two aspects: First, the total expansion, China Mobile .If the return will raise about 800 billion yuan, with a market of subscription funds, diversion of funds might be too many; second parity pressure, China Mobile and PetroChina's net profit of the two companies is almost equivalent to the entire A-share listed companies .the sum of profits will undoubtedly take away more money. .<P> But there are also optimistic about the market that help stabilize the red-chip index return. .With the return of large capitalization stocks after another, increasing the number of market heavyweight, heavyweight single weight drop, the market operation will be more stable. .On the other hand, return to the outstanding performance of listed companies are basically the leading state-owned enterprises, stock selection in favor of domestic investors. .<P> Little information: <P> red chips is registered outside China, with Hong Kong-listed mainland China concept stocks. .Since 2006, the implementation of the split share structure reform, the regulatory body and vigorously called for state-owned enterprises listed overseas return to A shares. .</ P>.