Anyone would think China’s economy is managed by elderly communists. This week old habits were again on display when the Shanghai Stock Exchange told its listed companies to pay out 30 per cent of income in dividends. The guidelines must be implemented in 2012 annual results. Guo Shuqing, head of the securities regulator, wants to attract more foreign and domestic institutional investors to the mainland market, which still depends largely on money from the man on the street. But the new rules miss the point entirely.
任何人都會認爲中國經濟是由一羣年長的共產黨官員掌舵的。本週,舊的習慣再次顯現,上海證券交易所(Shanghai Stock Exchange)通知其上市企業,現金分紅金額佔淨利潤比例不得低於30%。這一指導方針必須從2012年的年度業績開始執行。中國證監會主席郭樹清希望,此舉能夠吸引更多國內外機構投資者投資於中國內地市場,該市場仍主要依賴散戶資金。但這條新規定完全沒有切中要害。