Stock Market

Sun Guofeng

Chapter Chapter 4 in Financial Reforms in Modern China, 2015, pp 177-228 from Palgrave Macmillan

Abstract: Abstract The existing IPO process has three steps: (1) to set the price at a designated PE ratio of 15 (or below) that is obviously lower than the average PE ratio in the secondary market; (2) to freeze the funds of investors according to how much IPO stocks they would like to bid for; and (3) to require the investors to transfer their funds to appointed accounts. This issuance method has adversely affected the development of the stock market and the economic growth. Therefore it must be reformed.

Keywords: Interest Rate; Stock Market; Monetary Policy; Central Bank; Commercial Bank (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-50444-9_5

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DOI: 10.1057/9781137504449_5

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