The stock market is a barometer of the economy and a microcosm of the industry cycle. Throughout the year, several economic contexts have been fully reflected in the capital market.
First of all, the anti-monopoly power
2020 can be called the first year of Internet antitrust, which can be seen from the suspension of listing of Ant Financial. Since then, on February 24th of that year, the 65438+ General Administration of Market Supervision announced the launch of an anti-monopoly investigation on Alibaba Group Holdings Limited, which was undoubtedly the first shot of the giant's anti-monopoly.
On April/April/2002 10, the General Administration of Market Supervision imposed an administrative penalty on Alibaba Group Holdings Limited for its "two-in-one" monopoly in the online retail platform service market in China, and imposed a high fine of182.28 million yuan. Behind this list are Tencent, Meituan and Didi that we are familiar with.
Under the pressure of internet antitrust, the former internet giants bowed their noble heads. Alibaba fell more than 60% from the high point, Tencent and Meituan's share prices shrank by nearly 50% from the high point, while Aauto Quicker, which had high hopes in the initial stage of listing of Hong Kong stocks, fell more than 80% directly from the high point. It can be said that the barbaric growth period of Internet companies has basically ended. In the later period of the same type of company, it is difficult to have a highlight period that is enthusiastically evaluated by the organization. So, where will the spotlight of the market shift from Internet companies? We will wait and see.
Second, the era of real estate wealth is drifting away.
Under the policy of "housing and not speculating", real estate, an industry with high leverage and rapid wealth creation, is constantly cooling down. It can also be seen from the stock price trend of Hong Kong stock Evergrande that the market can lift it to the cloud by means of irrationality, or let it fall into the dust when the bubble bursts.
As an important basic asset in China's financial investment field, real estate is synonymous with so-called fixed income. At the end of this cycle, the net value of wealth management products and the objects of wealth management investment will develop greatly. Equity assets will stand in front of the stage, which is the need of the times to build a standardized, stable and large-capacity capital market.
From the point of view of enhancing China's economic vitality, adjusting its economic structure or upgrading the allocation of public assets, a prosperous capital market is essential.
So, what are the major trends that can stimulate the capital market and promote the economic development of China in the future? I think, to sum up, there are three main points:
1, greening
Under the policy guidance of "peak carbon dioxide emission" and "carbon neutrality", the trend of reducing carbon emissions and increasing environmental governance in the future is very clear. The new energy industry chain derived from this bears the heavy responsibility of China's economic transformation. The targets of outstanding listed companies involved in different links of the industrial chain need our in-depth study and excavation.
2, intelligent
If the popularity and application of smart phones have greatly changed our lives, then the high intelligence based on big data, cloud computing, artificial intelligence and other technologies will bring geometric changes in the future. In the modern society that advocates convenience and efficiency, intelligence is the inevitable development of the times. On this track, small and medium-sized enterprises, which are not well known at present, are likely to stand at the forefront in the next decade with the pulse of the times. If we take ten years as a unit and learn from the embryonic form of the current global cutting-edge technology, great opportunities in the future will appear in the field of intelligence.
3. Autonomy
The trend of wrestling between China and the United States will not change, and sanctions and anti-sanctions will be the norm in the future. No matter how the United States imposes sanctions, this is something we must face and experience in the process of development. Only by tackling difficulties and making key breakthroughs can we gradually realize real domestic substitution and move towards the road of national rejuvenation. Therefore, autonomy will become the dominant idea in the development of China's science and technology industry, especially in the future for a long time.
Facing this powerful trend of the times, we are fortunate to be one of them. Be a firm pioneer in the capital market trend and a deep "miner" in the trend of green, intelligent and independent industries.
Looking back at the market, we can't avoid a topic, which is the epidemic that has plagued us for two years. Last year, the once-in-a-century epidemic struck, the global capital market was jittery, and the US S&P index was blown four times. The overall retreat distance 1929 is only one step away. However, the market trends of all countries have confirmed one sentence: scenery is the best place, and despair is rebirth. Now we look back and witness the year of history. We are so intertwined. Under the repeated negative impacts, our market has become strong. Our country is also stronger under severe challenges again and again.
Just as we were sorting out the information and writing this article, the epidemic began to recur. How similar is this to the ups and downs of the capital market? Tomorrow will be better only if you do your job well. Let's seize the main contradiction, focus on the long-term and choose the best layout. I believe that only when sowing in winter will there be a story of spring.
The market is stingy, it never gives people roses easily, but everyone in it needs to work hard to find and open the door to light in the face of the vast road ahead. I hope that 2022, a year endowed with different meanings by us, can be as we wish, and each of us can become our own brave light chaser in this new year.