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The next big bull market is the first big bull market under the comprehensive registration system, and there will certainly be such a big bull market corresponding to the economic transformation and upgrading of China.One of the characteristics of the approval system is the scarcity of listed resources and the long-term lack of metabolism in the market. "Shell resources" is an important reason for the tradition of evil speculation in our market.

(Write something casually whenever you want to keep it for yourself.)1, the relationship between 519 market and policy change.Conclusion: The combination of economic transformation and upgrading with the reform of registration system will lead to a long-term bull market. Under the registration system, the stock market ecology will undergo major changes, the speculation gap will be effectively curbed, indexed investment will become the mainstream of the market, and the institutionalization of ETF-based retail will be accelerated.

The mature stock market is registered, which is linked with the developed short-selling mechanism of individual stocks. The high elimination rate of Nasdaq and a large number of fairy stocks in Hong Kong stocks are all formed under the joint action of the developed short-selling mechanism of individual stocks under the registration system. The registration system makes the issuance and listing of new shares convenient and easy, and will be short-listed and rarely become a "shell resource".Second, the stock market ecology under the registration system