a certain extent become market mechanism
The lack of overall system evolution also enables market resources allocation function was greatly weakened. Mo, with the stock market than is riches, resource allocation and the relocation of a logical causal chain. A market will become effective market, we must solve where the money came from, came with the how to use, the problems, and how to do this, we must in the market to form within the generating mechanism of capital, the capital of the mbt shoe combination mechanism, the capital of capital and the competition mechanism, and value-added mechanism in sports automatically and adjusting naturally the flow of funds, flow, velocity and flow, prompting social capital to the most efficiency industry and enterprise movement, then forms the flow of resources with the function of conformity mechanism. But in Chinese stock market, the flow of resources with configuration was penetrated into the large amounts of administrative color, accumulate riches, wealth without using without money, not wealth-generating the phenomenon of enhancing in market and enterprises to spread. Listed company a lot of entrust conduct financial transactions phenomena exists, the return on assets linger for a long time in a lower level, listed and financing system of administrative tackling the huge transfer payments caused all more or mbt footwear less, expressly or tacitly give listed companies in a holding large, especially with markets expect the shareholder to the demonstration effect, and contrary to a certain extent become market mechanism distorted source of power. If not, from the overall propulsion system reform of China stock market, not fundamentally resolve long-troubling Chinese stock market of these contradictions and problems, and market orderly operation and virtuous cycle were unable to get the true realization.
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