China Financial Daily

State Research Center Fan Jianjun: days the amount of credit is not the housing market into the stock market
In 2009, the stock market rose more than 70%, the housing market rose more than 40%, which more people believe that a lot of credit funds have entered the above-mentioned areas. The amount of credit in the end the number of days into the real economy? Whether the housing market into the stock market, and pushed up the stock market, housing bubble?

For the people’s questions, the State Council Development Research Center of Financial Research Institute, Fan Jianjun, director of securities research at the response observed in the economic monthly, said: “Credit market expectations into the stock market is not over.”

Fan Jianjun made a calculation: the first half of Bank of New Credit 7.4 trillion, of which 11000 personal loans to the residents, it is basically impossible to return part of the funds; 6.3 trillion of loans to non-financial enterprises, these loans will become deposits, then at least the first half of corporate deposits increased 7.5 trillion, but the central bank data released by the first half of the increase in deposits of non-financial enterprises is only 5.9 trillion, only the difference between the 1.6 trillion disappeared.

“This year, in January the central bank announced another data for us to explain the whereabouts of 1.6 trillion provide clues, 1 month, 1.6 trillion of new credit, including loans to non-financial enterprises is 1.5 trillion, while financial enterprises are more than 1200 billion. “Fan Jianjun, said.

National blood transfusion before the fund can issue 60 billion-intensive boosting the stock market
Recently issued a new fund-intensive, ETF feeder fund “front lines” gate opening, more than the fund’s nearly only “one-to-many” products reported accounts, these funds are no doubt over-the-counter will inject new vitality into the market. According to statistics, the National Day can enter the market before the new fund is expected to more than 60 billion yuan of funds.

Since August, the market fell sharply, but did not affect front-line fund companies to fund the launch of the new heat. Castrol returns to set up a flexible configuration bulletin issued yesterday, the fund-raising and its share of the interest carry-over funds of a total of 10.1 billion. Easy Fonda yesterday in Shanghai and Shenzhen 300 Index Fund will notice that on August 21 ahead of the end of raising more than scheduled August 28 in advance, 7 days a raise of more than 10 billion size.

Today and tomorrow, the market will usher in wheeled Dacheng industry and the growth of Penghua Featured issued two equity funds. With the card 500 in the South and the Great Wall Jingshun energy infrastructure equity fund these two armies joined issue, the issue of new funds launched this week, the climax of a period of time with the partial sale of shares in the fund reached 13. In addition, industry card 100 Index Fund will be issued next week to join the army. Partial fund shares issued in such a high density this year is very rare.

Yale University professor: Even now the stock market jumped a few months fine-tuning is no problem
“The next few years will not happen again a new wave of crisis.” Institute of Management, Yale University Professor of Economics at the financial well-known economist Chen Zhiwu August 14 that in Shanghai.

Chen Zhiwu, the same day his new book on the “financial logic” seminar held on the above statement. In his view, the originator of the 2007 financial crisis the world is nearing completion, will not be any so-called “second wave of shock.”

“Even as some experts predicted, the field of commercial real estate and credit cards there, but also will give rise to small-scale adjustment is unlikely to cause a panic in a crisis.” Said Chen Zhiwu.

In fact, on their own hedge funds have told the Post reporter Chen Zhiwu, the current U.S. financial market has returned to the orderly operation of the state, “If by a percentage point to describe, I think, at least to restore nearly 90%.”

A week ago, the Fed issued a statement just decided to slow down the purchase of a total of 300 billion U.S. dollars of treasury bonds. Taken the first time, intended to stimulate large-scale plans to end the “one small step”, so that many economists have become increasingly convinced that the crisis will be past.