The third card will be a bailout? .Expected 794.6 billion foreign capital margin.

Margin trading business had been formally included in the brokerage business, the market concluded that the fastest margin trading is expected to launch in June. .If the business practice, the stock market is good, it may become a "third rescue card." .The one hand, an active market, the other can bring to market 794 600 000 000 incremental funding. .<P> (Http://) An industry source said. ."Whether from a policy level or technical preparation point of view, has two years of preparation margin and demonstrated in the present conditions of release." </ P> <P style=MARGIN: 0px> State Department had announced on April 24 " .Supervision and Regulation of Securities Companies "(" the Ordinance "), in which the margin of clear business rules, triggered when the market launch of the pilot unprecedented margin concerns. .In the "Regulations" in the margin trading business was formally included in the brokerage business, and made clear that: The above Ordinance was June 1 implementation. .</ P> <P> Guanghua School of Management Professor Cao Fengqi said that if nothing else, margin trading is likely to CITIC Securities, Hai Tong Securities and China Construction Bank to pilot three brokers of investment securities. .But the three brokers are currently pilot has not received notice of the SFC. .</ P> <P align=center> broker said ready </ P> <P> concerned departments before the Commission clearly stated that the Commission will be in accordance with the actual market demand, timely, systematic arrangements and promote .margin securities companies conduct business. .</ P> <P> brokerage also said that carrying out the technical preparation margin trading business has matured. .CITIC Securities, one official said: "CITIC Securities as early as 2006 to set up a special technical team to the technology last year, the margin system is basically ready, including the order system, accounting system, monitoring system, specific details .has come out. "</ P> <P> According to industry sources, the recent Securities Commission has completed its pilot margin trading company to apply for a comprehensive review, the Commission's choice for the very first batch of pilot securities firms cautious .The first pilot-scale preparation of 5 from the initial adjustment to the current three (CITIC Securities, Hai Tong Securities and China Construction Bank investment securities). .</ P> <P> Professor Cao Fengqi said, "the first three in this pilot, which is the performance of the SFC cautious, because this matter margin is relatively large, not all brokers are suitable, depending on conditions. ."</ P> <P align=center>" third rescue card "</ P> <P>" Bill "the first clear through margin trading securities and financial companies. .Some media believe that the introduction of margin trading on the market good, it may become the norm size of the non-lifting of the ban, after the stamp duty cut, "the third rescue card." .</ P> <P> Xu Gang, Managing Director of CITIC Securities, said, "I get a new product innovation means to be a rescue not so agree. New product innovation should not be the timing for the introduction of ups and downs, mature to .should be pushed, such as margin trading and the introduction of stock index futures should not be affected by the impact of this. "</ P> <P> Galaxy Securities chief fund analyst Hu Lifeng said:" The introduction of margin trading is a market .term basis and institutional building, I do not think it was relief measures. The reason why delayed because of technical aspects of margin trading business preparation takes a long time. "</ P> <P> for margin trading .can have short selling, Professor Cao Fengqi basis that "the introduction of margin trading, the stock market is good. on an active market is good." </ P> <P align=center> incremental funding to produce 794 600 000 000 .</ P> <P> SFC early April 2008, issued a "venture capital companies on the issuance by the notice for calculating the standard (draft)." .According to the draft, securities margin trading company, it should be respectively the size of the customer financing business, trading business of 10% the size of venture capital for margin trading business. .</ P> <P> professional estimates, if the introduction of margin trading, each stock to 10% for mortgage financing, revolving funds within the system is equivalent to more than 10% of birth. .As of April 30 at the last trading day market capitalization of Shanghai and Shenzhen stock markets reported 7.946 trillion yuan, he may bring to market 794.6 billion yuan of incremental funding. .</ P> <P> these incremental funds will come from? ."Regulations" specifically mentioned, "securities firm engaged in margin trading business, its own lack of funds or securities, securities finance companies can borrow from. Securities finance the establishment and dissolution of the decision by the State Council." According to the "Regulations", the financing .the formation of short selling broker in the finance - Securities Finance Corporation - the chain of funds by banks, that is established by the State Council Securities finance companies borrow money from banks to pay some interest, then lend money to qualified securities companies, securities firms and then .to lend money to customers, so that makes the curve of bank funds into the stock market, promote capital formation. .</ P>.