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Stock Market

In: Financial Reforms in Modern China

Author

Listed:
  • Sun Guofeng

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.

Suggested Citation

  • Sun Guofeng, 2015. "Stock Market," Palgrave Macmillan Books, in: Financial Reforms in Modern China, chapter 0, pages 177-228, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-50444-9_5
    DOI: 10.1057/9781137504449_5
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