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券商亏损在业界早已不是什么新闻,从曾经的风光无限,到如今的惨淡经营,短短两年的时间里,券商的境遇发生了天翻地覆的变化。“不是我不明白,这世界变化太快”。的确,2001年上半年股市还呈现一片欣欣向荣的景象,只是谁也没有料到,国有股减持号令即出,沪深股指急转直下,漫漫熊途,至今未看到尽头。 如果说今天的券商正处在自诞生以来最冷的冬天里,似乎也并不是危言耸听。交易额连年下滑,融资难题空前突兀,亏损券商的数量不断扩大,还有些券商正处于生或死,进与退的两难境地。 近期允许券商发债文件的出台,又在证券业掀起了新的波澜。发债能否解决券商的根本问题,什么造就了券商今日的困境,未来券商的发展方向是什么?希望本期有关券商的三篇文章,能够给读者找到答案。
Brokerage losses in the industry long ago is not what the news, from the once-limitless scenery, and now the dismal management, just two years time, the situation of the brokerage has undergone tremendous changes. “Not that I do not understand, this world changes so fast.” Indeed, the first half of 2001 also showed a thriving stock market, but no one expected that the state-owned shares reduction orders that out, Shanghai and Shenzhen stock index plunged straight, long bear way, has not seen the end. If today’s brokerage is in the coldest winter since its birth, it seems that it is not alarmist. Turnover year after year decline, the unprecedented financing problems unexpectedly, the number of loss brokers continue to expand, and some brokers are living or die, into and out of the dilemma. Recently, the issuance of bonds to allow bond issuance documents, but also set off a new wave in the securities industry. Bond issuance can solve the fundamental problem of the brokerage, what created the plight of the brokerage today, the future direction of the development of the brokerage What is the hope that this issue of the three brokerage firms can find answers to readers.