On the “Investment Strategy Report Conference for Securities Market in the second half of 2007” which is held in Shenzhen just now, the Board Chairman of Rising Investment Management Limited Li Zhenning said that 2006 just is the first year of China Stock market golden decade; The subject of bull market is “value reevaluation”; the major tendency of over 5000 points is not changed. Security Daily has carried on a special report on this activity.

 

    Li Zhenning said that we should talk about from thousand points which include 1700 points and 3000 points. After nose-dived on May 30^th until today, I considered that the basis feature of Bull Market is not changed. Bull Market refers to the basis feature of the market. Someone considered that the basis feature of Bull Market is the result of fluidity superfluous caused by RMB appreciation, I fell this is impossible to explain. Because the Chinese Foreign Exchange Reserve of 1,000,000,000,000 is not collected in one or two days. In 2004, the fluidity is also surplus, but it caused the result of real estate rising in suddenly and the stock market falling in suddenly. In my opinion, the key is the change of system, Liquidity Reform rebuild China capital market, the period ahead is the “prehistoric time”. Liquidity Reform changed the behavior of listed company, because the change of system, listed company changed from subtraction (divert fund, illegal connection transaction) to addition (adding capital, merger and acquisition). Some organization notice that when the stock point reach 4600, the average value of Chinese listed company 15 Yuan, therefore most of Chinese listed companies have investment value.

 

    Li Zhenning considered that the opening of Personal Aboard Investment will not high affect the A-share Market in a short period, it will bring a certain pressure to company stock with A+H share.