A shares ushered in another historic moment.
China Clearing announced on the 25th that the number of A-share investors has been growing since it exceeded 150 million in March 2019, reaching 200.087 million by February 25, 2022. This means that the number of A-share investors has officially exceeded the 200 million mark.
Historical data show that the number of A-share investors officially exceeded 100 million in January 2016. Since the establishment of the Shanghai Stock Exchange in December 1990, the accumulation of the first 100 million investors has taken about 26 years. Since January 2016, the accumulation of the second 100 million investors has taken about six years. Securities traders said that the rapid growth in the number of investors was related to the accumulation of residents’ wealth, the development of capital market and the improvement of population education.
With the increasing number of investors, investor protection becomes more and more important. The relevant person in charge of the CSRC has said on many occasions that it is necessary to strengthen the protection of investors’ rights and interests and enhance the sense of acquisition of investors. In addition, when developing the financing side, the capital market should also pay attention to the construction of the investment side to promote the balanced and coordinated development of investment and financing.
the number of investors exceeded the 200 million mark
Looking back on history, it is found that in April 2015, China Clearing began to announce the number of investors at the end of each month. Before that, China Clearing mainly announced the number of stock accounts at the end of the period. At the end of April 2015, the number of A-share investors was 81.85 million. At the end of January 2016, the number of investors exceeded 100 million. In March 2019, the number of investors exceeded 150 million. In February 2022, the number of investors officially exceeded the 200 million mark.
if the Shanghai Stock Exchange was established as the starting point, the number of A-share investors reached 100 million, which took about 26 years. From 100 million to 200 million, it only took about six years.
Mou Guohong, head of the Central China Securities Co.Ltd(601375) Research Institute, analyzed the reasons for the rapid growth of Chinese investors in recent years. He believes that there may be three reasons:
First of all, China’s economic development has reached a new level. The per capita GDP has crossed an important threshold, the residents’ wealth has increased year by year, and the demand for asset allocation has gradually increased.
Secondly, over the past 10 years, the development of China’s capital market has become more and more standardized, the market system has been gradually improved, and the combination of account opening system reform and mobile Internet has made it easier for investors to enter the market. In addition, the investment value and profit-making effect of some high-quality listed companies are becoming more and more obvious, attracting more investors to enter the stock market.
Finally, the younger generation has gradually become an important participant in the market. People born in the 1980s and 1990s have entered the market one after another. This generation is generally highly educated, has a more active concept of financial management, has a higher acceptance of high-risk assets such as stocks, and has a higher degree of participation in the stock market than previous generations.
promote investment and financing balance and enhance investors’ sense of gain
With the development and growth of China’s capital market, while meeting the financing needs of the real economy, the capital market also pays more and more attention to the construction of the investment side to promote the balanced and coordinated development of investment and financing.
The 2022 system work conference of the CSRC just held proposed to adhere to the principle of stability and earnestly maintain the stable and healthy development of the capital market. Strengthen macro research and judgment and policy coordination, and improve the accountability system for risk prevention, early warning and disposal. Steadily promote the entry of medium and long-term funds into the market and promote the overall balance and coordinated development of investment and financing. We will improve the expected guidance mechanism of the capital market and create a good environment for the smooth operation of the market.
In October 2020, Yi Huiman, chairman of the CSRC, said at the 2020 Financial Street Holdings Co.Ltd(000402) forum annual meeting that we should strengthen the construction of investment side system. While accelerating the reform of the financing side, we will work together to promote the reform of the investment side. Expand the team of managers of public funds, further improve the rules of investment consulting business, strive to improve the professional ability of various asset management institutions, and promote the optimization of the policy environment for the entry of medium and long-term funds such as the third pillar pension into the market. We should improve institutional arrangements such as accounting performance evaluation and incentive mechanism for whole industry investment, cultivate and expand the willingness and ability of long-term investment in the capital market, accelerate the implementation of securities class action system, improve the institutional mechanism for the exercise, protection and relief of investors’ rights, and actively advocate long-term investment, value investment and rational investment culture.
With the increasing number of investors, investor protection is becoming more and more important.
In May 2021, the book “thirty years of China’s capital market” was officially unveiled. In the preface, Yi Huiman, chairman of the CSRC, said that the capital market is directly related to the interests of hundreds of millions of families and hundreds of millions of people. Respecting, respecting and protecting investors is a concrete embodiment of the people’s nature of capital market supervision. The CSRC will protect the legitimate rights and interests of investors throughout all links and processes of supervision, make every effort to prevent and resolve risks in key areas, resolutely crack down on all kinds of violations, actively build an open, fair and just market environment, provide more effective regulatory protection and judicial relief, and enhance the sense of access of investors.
On February 18, the CSRC announced on its official website its reply to the “suggestions on optimizing the protection mechanism for the rights and interests of minority shareholders of China’s listed companies” at the fourth session of the 13th National People’s Congress. The CSRC said that investor protection is directly related to the vital interests of hundreds of millions of people. It will continue to build and improve the securities investor protection system to protect the legitimate rights and interests of investors, especially the majority of small and medium-sized investors.
great development of securities online gold
the period of rapid development of A-share investors from 100 million to 200 million is also a period of rapid development of the online gold Department of securities companies. On the one hand, the increase in the number of investors has promoted the development of the online gold Department of securities companies; On the other hand, the development of online banking sector also provides more convenience for investors to enter the market.
In 2014, with the birth of Sinolink Securities Co.Ltd(600109) “Commission treasure”, cross-border cooperation between the Internet and securities companies began, opening a huge wave of Internet securities. Among them, the most famous are low commission and app. Some securities companies redistribute the market share with these two weapons. The most typical is the sudden rise of Huatai Securities Co.Ltd(601688) market share.
A few years ago, securities companies began to develop app independently and develop Internet Financial online business. At that time, “new account opening” was an important assessment index, but now the “enclosure” movement has come to an end, and this index has been weakened.
It is understood that at present, the transcript consideration standards of the online finance department or e-commerce Department of securities companies are relatively diversified, including the activity of APP users and the proportion of the trading volume of new customers in the total trading volume.
A brokerage revealed to reporters: “the e-commerce department mainly undertakes the responsibilities of customer marketing, Internet platform construction and mass customer service. Therefore, it needs to be responsible for indicators such as new customers, new assets, platform users, daily and monthly activities of the platform.”
