Lang Speech Ningbo June 22 China namely facing un

At that time the share price rise, according to my theory is not the share reform, the share reform was a muddle, 2005 I say destined to share error alteration, but the share reform in 2005 share price rose, they said Professor Lang Do you think you are wrong, but you Look now know, I had it! ? If you asked me 06 Greentown speech, you would mail it! In May last year to the total of the low you heard it, and you did not come, do not discourse Greentown! Was May 30 when the stock price the Government to raise ticket responsibility fell to 3500 points, then you start to try to be clever, you do? Buy second-line blue-chip, because you see starting in May, the stock concordance has been rising, are driving the broader market, and we call twenty-eight phenomenon, you will not hear speech, and to attempt to be beautiful, and Oh! You see large-cap stocks drag our index, price-earnings percentage is too high, we can not buy, we buy second-line blue-chip, from 3,500 points to 6,000 points, how do you favor? And you do not make money! Because you bought a second-line blue piece. Comrades, twenty-eight inside the second, which stocks, cement, iron, securities companies, the sector is not the dual economy overheating inside the department? You buy a second-line blue-chip sector is too cold, so from May to November, the second pulling the stock reached its highest point, and you must listen to my speech. Last year, I have oral, from the end of the year, stock prices must fall, unless the government bailout. Why? Very simple, the stock market itself reflects the dual economic fundamentals, you think, from May to November, the phenomenon of large-cap stocks twenty-eight second he rose too hasty, will call back, then eight twenty-eight phenomenon ? He is the flute section of the department had, where he has gained the fact, according to the dual economic theory, the large-cap stocks will callback to the end of the year, 80% of the flute department will be down 20% of the overheated sectors will call back, so all the way down. I tell you, do not have anybody phantoms on the Olympic, Olympic will not let you become more prosperous, because the stock market has its own laws of dual economy.
you think about the Olympics have anything to do with you in Ningbo! ? In addition to excitement outdoor the real benefits of what you do? You think about it? !
even many media asked me, let me talk about the Olympic economy, I listened the subject to get petulant! I said it is a water cube,Lacoste Trainers UK, bird's lair have anything to talk about it? Do you think the Water Cube, Bird's Nest will bring China's economic development, how so wretched you are? ! To think to know the ass! You can buy the stock, but I tell you, one, buy the stock, first think about what I say dual economy, the stock market is basically in consensus with the dual economy in operation. The second sentence, the bargain of their own decisions, do not ask me, but I tell you,Lacoste Shoes, you do not have the Olympic nightmare ailment, will merely ache you. As from today to the future, to the end of the year before the Olympics, how to get stock price, which is public, I can not tell you. Professor Lang said a lot, dropped some, and I said I can not tell you, but you can understand our dual economy, the stock is basically reflects the dual economic fundamentals, you will know everything, and this should not dart, you determine for yourself.
As to media reports, international peppery money come the end of this speculation, we can not rule out this potentiality, but I think the international hot money come the end of his speculation is very difficult operation, because we do not Vietnam, so open, we now little reason to protect themselves because we are open ample, and we lack the futures market, a lack of futures market and buy A shares have a certain degree of trouble, because it is not hard for you to buy their own people, which reduces our international hot money speculation the possibility of the stock. Therefore, we do not musto many illusions in this regard. But there is no international hot money to speculation, I tell you, decision. But you want them to change the ecology of change in fundamentals that more difficult.
】 【Professor Lang: We immediately phone on the host came to power! We are not here to an interactive!
】 【Moderator: Thank you, Professor Lang is very active, witty, amusement to deliver a constraining speech, followed by questiin due time, interactive media, today to a lot of guests as well as private entrepreneurs and Ningbo, local media, you have What problems would like to ask if Professor Xiang Lang to direct questions. Please pass the staff about telegraph loudspeakers.
】 【Question 1: Will Lang, Professor, you say the centre is a dual economy, China's dual economy do you think the basis causes that? Why is it not a binary economy, we have a dual economy, why? Thank you!
】 【Professor Lang: very good! I want a easy portrayal. The reason why dual economy overheating overheating sectors, that is, to ten years China's economic development, local governments to enhance the GDP as the key link of the projects and are therefore driven by the departments concerned and the GDP is overheating, it is ideology-driven, because local governments to engage in improvement to the construction of bridges and pave the access for large sums of money so invested, busy in extravaganza, is performance engineering, performance engineering-related departments and the elementary overheating. How cold the sector get cracking? Primary ingredient is the positioning misdeed due to industrial chain, which manner essentially China's manufacturing industry is one of six plus one inside, the value is very cheap, then hit the macro correction, exchange rate and the presentation of labor fatigue compact statute, making a face investment in the rapid deterioration of business environment, 30% heat, 70% of the cold.
】 【Moderator: Does? Who surrounded you.
】 【Question 2: Professor Lang talked about some macro issues that may arise, and recently we also note from the Central June 13 meeting, General Secretary Hu Jintao made * Kam * To ensure the stable development of real estate meantime limiting financial hazards, from this information can not predict Zhonglang instructor, from the firm monetary policy, there may be lax, but loose on the property after what efficacy?
】 【Professor Lang: General Secretary Hu Jintao on real estate development, we likewise talked about his speech, the real estate must be stable, not rose can not be a large drop, causing social turmoil rose, the results of crash caused by the financial emergency, banking crisis. So to retain the real estate development is the basic mission of Baoding. Problem? Do not know why you know deep down that real estate developers and their alarm of it?
because his emotions tell him that his development costs, land purchase costs and additional costs of the assorted disbursement is rigid, it is not moving, especially in the open bidding system, make the spend surface is strict , transmit is not down. But the money comesintoseffect to purchase a house, they found money to buy a house they are highly difficult to control. That is the cost of the supply side is strict, and the demand is erratic, entrepreneurs, capital-based money I gave him a label is virtual money, the money is disgustful, buffet wherever there is foam. Last May my speech in Chongqing, Chongqing, the average attribute cost is 2900 yuan / square measure, to the future and I said, there ought be no bubble in 2900 yuan. Chongqing, the media is very excited, Professor Lang said little to others, says Professor Lang said there is no bubble in Chongqing. I said come back, I have not finished. I said there is no bubble, just a dozen virtual money come in, once housing prices out of control. To June, urban and rustic zones of Chongqing engage in co-ordinating a current special procedure, engage in, large mathematics of virtual money into the house by the Chongqing to November rose 2,900 yuan to 6,Lacoste Arin Patent Trainers,000 yuan, housing prices out of control quickly, when the developers so cool , immediately covered up to sell. But the problem is how to do the money go? And this money is not from this place stable economic growth by driving up the money, it is not, but because the whole Chinese economy rapidly deteriorating business surroundings, business, milling approximately a colossal number of entrepreneurs, the money, for instance, why the fried tea Poole so lofty, because the tea can be stored as a long time Poole, Dragon can not be more freely for a long period to fry antiques, paintings, Poole tea, is a local funding sources. I have a student, I muse he put seven or eight antique lumber house, price are very lofty, on the label, this is mahogany, this is rosewood, eminent prices multiplication up to six billion trees, do not know how to cost. The money is hideous, at the peak of a loss, now collapse. Why the recent decline in amount of mahogany and Poole tea, it is because the virtual money out, and discontinue. Because wood prices, Poole tea prices mushroom is the reason why the results of virtual money to crash into, at all times a decline in merit immediately retreated. This fund has three important characteristics: premier, unpredictable, uncontrollable second and third no supervision. Hit where, where there is foam, but came and went without a trace.
in terms of real estate, the cost is rigid, with demand for funds is erratic. This is why so many real estate companies are reasons for constant state of nervousness.
So you ask the question: Can China's macro-control to solve this problem? Do not see the macro-control amazing. Think about it, how to cure, not a short-lived solution. For example, we deter the aliens to buy a house, second pledge, so many problems, you control the prices but? According to research found that foreign capital to buy houses in Shenzhen is only 7% 6% 7% which is Hong Kong, Macao funds, foreign funds actually only 1%. You can scarcely see the hot money in real estate speculation, how to fry it? That entrepreneurs virtual money. So you can not stop-gap, in a certain region, said housing prices reduced me how! But the macro-control from the root of the problem, to ease, prefer than suppress, how to ease, we must first change the cold sector entrepreneurs to invest in the business environment. Answer this question I do a traditional Chinese medication theory to explain that today the Chinese economy had hepatitis, abscess of this word is very beautiful, two bombard, the fire must be treated to two beams, but not this man's body, with the beam will He Gaosi, so inverse to warming, has come to get the body back attach. Hepatitis is today China's economy, macro-control beam is great, warming to the cold and hot sectors separately. Let him cool down overheated sectors, cold private manufacturing sector, in particular not to blow him, give him a kind of funding, a variety of benefits, make him coiling up. So to solve inflation and solve the foam problem, solve the housing problem, we must start from the warming, the dual economy downward pressure inside the overheated sectors, escalator up the cold sector, converted from a dual economy a dollar economy. Then use the beam, which is now the macro-control to regulation. If you do not do this, it is hard to achieve reliability in the real estate market, because the real estate market and the source of funds and mahogany furniture, tea is the same as Poole, his erratic funding, is very difficult to control.
】 【Moderator: Thank you!
】 【Question 3: I want to ask a question more concerned about the people, now hear you say, the stock may be down, real estate and instability, but Ningbo is a place where private capital is luxuriant, may I ask, and we pocket a little money, or the second half of next year, we invested in those areas better. Some people say the best money in the bank, you are not there this view:
】 【Professor Lang: he asked the very rational. We think about it. Why do we
assumption in stocks and my commentary to listen to experts, the people doing is speculative, ridiculousness, and we perform is very reasonable people, but economists unreasonable. Our inflation is 7%, fuel prices are six dollars, has by far begun is it? If the intonation, then how do? So you put money in the bank one hundred percent of the depreciation on the stock market if it? You bet there is a become, which is why there were three thousand points to buy stocks, because the money in the bank a year or two down, but also a loss of 20%, if I buy the dips it? To made. Because the loss of deposits banks are one hundred percent, if there is the slightest contingency of stocks to the slightest chance for this stock is still you, but your behavior is very normal, because the addition can be done? ! Property you have the money, there must be ample funds to real estate is not easy to win counted from a large number of real estate loans, real estate you can not do this tread does not make sense. We can understand why today we must stock, why do I denounce the views of these economists, they are rubbish, because they do not understand, we are facing today's investment environment is very needy, small self-employed in addition to deposits and stocks also What, do you choose among these two stocks is very understandable, and I think your behavior is very reasonable, but reasonable does not mean to make money. If you ask this question in Hong Kong, I can tell you that you go to buy a new type of Hang Seng Bank certificates of deposit, that is, save a hundred dollars, a year later, according to the two currencies you choose to give you interest, if a money rose by 30%, give you 30% interest, your problem is how to do things selection, if you choose two currencies, the first fluctuations must be, must be stable growth in the second. These two combinations can assure you can not lose! Which is the volatility? Japanese yen. Which is the steady growth of RMB. You choose the fusion of the renminbi and Japanese yen can not lose. Meaningful in Hong Kong on this heading, but does not make sense in the Mainland. You do not deposits, not stocks, you fried Poole tea, then aggravate. You asked me for Lang's secrets, how to make money, I say no. You asked me stock it? I said I do not stock. Because I have a way to make money, not the shortcut.
】 【Moderator: Professor Xie Xielang! Let us remain two questions.
】 【Question 4: The first second half of the nation will not raise interest rates? Second, I memorize a few days ago, said Wu Jinglian, China's stock market is a ############, causing an uproar, to Lang, Professor of view, the stock market will not be a ############?
】 【Professor Lang: the first is not to raise amuse rates, you should ask, Zhou Xiaochuan, this is his problem, I do not ambition to speak approximately, I do not want to foresee his behavior, because his behavior is unpredictable it! Because he never listen to me, nevertheless I say is right, for example, I have been vocation the amuse rate how to tune, how to accommodate the interchange rate. I went family with my kin say that they do not listen by home, talk with our family dog, he will not listen, Zhou Xiaochuan, he would not listen, do what he loved, anyway, are wrong.
my message, why the past two years, including the transfer of macro regulation and control interest rates, bank keep ratio, adjusting the daytime are basically price has gone up, the next day to return to normal. Our past, hard to annotate to him, is that stock market is not only normal, you can not say after listening to, our stock market is very regular, because in the dual economy, you raise interest rates and raising the deposit keep rate by What are the results, a further blow to the private corporate sector have corroded,Lacoste Running Trainers, so there will be more money into the stock market, which will hit the share price. As for the future trend of macro-control policies, the government disclosed this week from the information point of view, I sure know a great house has alter views. I want to tell you that the answer to this question is dependent on into the mirror. To see what the Government has recently introduced the policy will at least look at this week's data within the Government have a lot of different opinions, for the macro control should continue to be controversial, please memorandum that these two days to listen, pay attention to see Government news unlock. Then you do based on our dual economy talks to see your face, I trust you will published.
second question, the stock market proceed to grow, the development of 2 alternatively three years antecedent, I base that laborious to reflect mall fundamentals, the stock market response to the elapse two years found that the dual economic fundamentals, the future how to make sure the three-month trend of the stock market, we have to reserve in mind that beneath the dual economy building ambition decide how to obtain the Government's policy, you are emulating my word, ambition be definite to conquer.
】 【Question 5: Ningbo private entrepreneurs how to deal with six and 1 in the industrial chain how to adjust themselves to accustom to the new earth economic structure changes, we have this condition. Thank you.
】 【Professor Lang: Recently this problem has chance particularly serious. Private manufacturing manufacture today is not the long-term accumulation of flute partition results, but quick deterioration, especially beginning from 2006, is deteriorating rapidly, my six-plus-one theory is that in 2007, but this theory has recently been in the adult, whether 2008 to think how to go, basically too late, is maximum possible to be multinational capital acquisitions, chief donation of international fiscal speculators.
at a time your company's products just a little technical content, performance scale a little bit of act, basically you all talked and international speculators, roasted seeds and nuts if you open your shop you can not reason. The industrial capital of international financial speculators are referred to personal equity asset, they are a pawn of international financial speculators. The fastest way is likely to be obtained. As you said I do not want to be procured. I tell you, if the industrial capital fantasy you, you flee all escape! It's not like we love a human after me, I do not like you can escape. If the industrial capital fantasy you, you basically can not escape, if you're trying to do? He will sue you, for instance, forgery copy ah! Chint Schneider reported that you copied, because he wanted to buy him, he will sue you at home and abroad, everywhere, is exhausted of his report, even now the measurements and sell it to you! Industrial capital bad! Private enterprises in Zhejiang are threaten to be bombarded, if you do not trust, I say a few words: the first of our domestic retail industry is very difficult to survive, and the second automatic parts industry, you have the number of domestic automatic portions industry, you distracted as early as possible ,Lacoste Zepher MR2 Trainers! Are basically the future of automotive spare parts industry, foreign investment and mutual attempts to gain power. Is it possible under such pressure, we shake along for a better one. I can tell you, you immediately think of doing international championship must enter the six plus one, you have probably born with, or is threaten to be industrial capital and financial capital dined, or no one wants you. There are three options, enter the six plus one, are cornered off, to be eaten to three alternatives.
】 【Question 6: Housing prices in the ups and downs, there are fluctuations in the circumstances, I ask the housing market is not hedge productions, human feel that real estate is how to understand the concept.
】 【Professor Lang: I basically engage with you that view, according to long-term data, then a country or a district in terms of real estate relative degree of conservation is the highest. Let me give an sample, people in Taiwan is relatively well-off chiefly due to home ownership, as the economy continues to grow, of course, not inflation, people of real estate transactions, and real estate a lot of personalty, so that the people of Taiwan asset With the passage of time have additional. Although inflation is there, but in the thirty years of real estate should be a better hedge products, but this is the Chinese people favor to buy items. I can say.
】 【Moderator: One last question.
】 【Question 7: Hello, Professor Lang to Ningbo, the chief consumer of commercial real estate purchase and manufacturing enterprises and foreign enterprises, but now they have reduced the profits! Do you think commercial real estate to Go?
】 【Professor Lang: You talk quite, quite good. I say real possession is no a mercantile real estate, I mean real possession. The latent of advertisement real estate is itself a problem, your detection is very correct, and our fabrication enterprises, alien commerce is no the problem of declining business, but profits will be negative this year's problems, it will straight thump to the commercial real estate. I acquaint so numerous stories today, not a commercial real estate. As the trend of commercial real estate, or from the dual economic analysis, the amplitude and his anchor is more correlated dual economy, but it is not a safe haven, not a secure asylum after the entrepreneur tin not work on, you put him amounted up as dual economy departments will have slightly better cooling, I have just said overheated real estate sector, commodity houses.
】 【Question 8: My question, the size of non-lifting of the forbid after the cold sector of the economy holds a lot of money in overheated sectors, leading to very large size of Africa, I think the future trend of the size of non-lifting of the forbid. Professor Lang】 【
: 05 years when I have warned the Commission should never be changed, after the share reform of the investors is that you brought us endless pillage. What is now the size of the non-issue. The Commission had made that point of no return, because the share reform itself is wrong.
05 years I say he was wrong, the results after the stock surged ended, he said, Professor Lang will be wrong with you? ! I said I can not go wrong! You see in 2008 fell sharply. Cross Currency Cold War which has a family, there are four Marx Capital talk about this family, the family began to decline in the twentieth centenary, this family is very interesting, he was Margaret Thatcher era, on benefit of the British Government share reform carried out, your consideration please, the crown jewel of capitalism, capitalist leaders, he did share reform is most invariable with maximizing the interests of all the British people. I took his share reform and was converted into shares of our approximation, you know everything was. This is why the Commission would do such a silly object because he did not listen, do not learn. My words in 2004, about 05 progressive share reform can not do.
share reform when they made three laws: 1, listed companies must have the fiduciary liability of the vocational managers to manipulate, the so-called fiduciary responsibility you have to create wealth for the shareholders, all operations must be the interests of shareholders. 2,Lacoste Gravitate Trainers, the only good public and private wealth to the share reform, the bad companies are not allowed to share reform. Where the reasons, because the share reform of the British Government endorsement, bad corporation share reform, some mar to investors and influence the credibility of the British Government, so good corporation share reform, bad corporation can not share reform. 3, after the share reform companies, the British Government a ballot of gold stocks, it has a hundred percent of the veto, if the company after the share reform, actions will affect the interests of shareholders, the British Government a veto, this is our journal cursing imperialist countries, and our lovely SFC compared to the share reform, Law I, we listed the number of directors have a fiduciary duty, how many people are fighting for the interests of the people, I can not say no, but at least not many; Second Law: the United Kingdom is restricted to good companies share reform, and naught of us can share reform, so many bad companies share reform, people do not know will hurt it? ! People who attention about it! ? Law three: one hundred percent of our socialist government actually quit, not understanding, not gold stocks, the market economy once and for all! British imperialist capitalist countries that the British Government to protect small investors, he changed the company for every share to maintain a wag of gold stocks, and we are one hundred percent out, what outcome? SFC activity a farce, the size of the UK will be a non-issue? No, the British Government is not a veto on the matter, and us? Is this valid, is that legal, or they might, and why? Level is not enough for you, you just do not understand, what is the share reform. If the Commission was compliant to listen to my word, in accordance with the laws of the United Kingdom to do this three down today, not simply the size of non-issue. Of course I said, I speak no one hears, the dog does not listen, his wife does not listen!
to the final, three annuals afterward, we studied that the share reform namely a complete failure. And entire of us shareholders to bear ashore how the burden of this failure, you know? If you listen to me in 2005 his words? No problem! Thank you!