Nie Qingping'S Importance On Strengthening The Management Of Leverage Ratio

There are many reasons for the abnormal fluctuation of stock market in 2015. The main responsibility is to increase leverage and reduce leverage. Therefore, it is very important to strengthen the management of leverage.

To draw lessons from the 2008 US financial crisis lesson, the most basic lesson of the US financial crisis is the real estate bubble. A large number of mortgage bonds are issued by financial institutions. Further, investment banks issue financial credit derivatives and conduct pactions between financial institutions. Various wealth management institutions including securities, trusts, insurance companies, fund companies and private equity funds must strengthen leverage and risk management.

Nie Qingping suggested that wealth management must insist on value investment and assets should be allocated within the security boundary.

There has been market analysis since 2015, when more than 2500 private equity funds disappeared, Nie Qingping said, because high leverage was allocated to the unsafe border.

According to Nie Qingping, the growth enterprise market,

At present, the market value is 13 trillion, accounting for 27% of the market share, but the turnover is 50%, the Shanghai 50[-0.84%] market value is 13 trillion and 200 billion, and the turnover is only 4%.

"Do not love blue chip, love small market value, this mode is not sustainable."

Nie Qingping said that Japan and South Korea's experience shows that after the financial crisis in 1997, the capital market was completely liberalized, and the concept of retail speculation was mainly converted into value investment.

Nie Qingping believes that if the wealth management is public, there should be investment restrictions. If a closed Asset Management Co is limited partners, the risk can not be spillover.

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Nie Qingping does not seem to agree with the use of insurance funds to hold a company.

For example, in 2015, the allocation of funds in the field was basically in 1:1. Finally, the securities company did not suffer any injuries. Because, at the beginning of 2011, securities companies had a complete set of rules and regulations.

"Nie Qingping believes that from a cross risk perspective, rules are needed.

Nie Qingping also suggested that wealth management agencies should guard against leverage shocks from a cross market perspective.

"When it comes to priorities, we should know that as long as the target corresponds to the stock market, or the expansion of a bond, the fixed income market will be a Risk Spillover to others."

Nie Qingping believes that every asset management institution should have internal risk management in asset allocation of capital market.