Ma Guangyuan: What is the future of Ping an acquisition

Ma Guangyuan (well-known economic commentator) if the rumors of a safe and deep development are true, from a business point of view, this is undoubtedly a winning choice: Ping An to achieve the goal of a nationwide bank, and deep development through the exchange of shares to achieve the opportunity to share the lucrative profits of the insurance industry. From the real positive, the significance of deep development is obviously greater than China's peace.　　Compared with other listed banks in China, the performance of the deep development in recent years is actually passable, has been facing the bottleneck of development, while the major foreign shareholders in the implementation of the strategy is also a frequent conflict with the domestic shareholders, through peace with China, to intervene in the domestic lucrative insurance market, the significance is extraordinary. For China's peace, the deep development in the form of meaning may be more significant, through the acquisition of deep development, Ping An has gained deep development in the national central city has more than 200 branches of the network, on the other hand, in the banking products also basically completed the financial holding of the national layout. From the analysis of logic rationality, the development of China's Ping An master is more reasonable than that of Chinese life and National Bank.　　Because of Ping an in fact since the second half of 2008, Ping An life through the two-tier market, such as the acquisition of shares to 114.243 million shares, its shareholding of 5.33%, has become a deep development of the second largest shareholder. We note that the Ping an acquisition of the deep development, rumors of the way to change shares. If the rumor is true, then the stock Exchange will become the Chinese insurance listed companies and banks listed companies between the first exchange-share acquisition.　　Adopt the method of stock exchange and purchase, one important reason may be peace. If the cash way to face financial pressure, but at the same time, the author believes that the "swap" mode in fact has a stone role: first, the financial pressure on peace is small, on the other hand, deep development can be achieved through the curve of equity insurance companies. However, the author believes that the deep development of China's Ping An acquisition will affect the prospects of China's financial holding and mixed operation. We see that the mixed operation, which is the loss of the risk barrier, is one of the institutional causes of the financial crisis. In the absence of risk isolation, insurance, banking and securities institutions, with each other supporting highly leveraged financial innovations for purely beneficial reasons, eventually led to the outbreak of risk and the collapse of financial institutions. As far as China's financial industry is concerned, the risk is incalculable when the financial mix is in a defective environment. Therefore, the author suggested that the management of banks and insurance companies in the mutual equity, we must pay attention to risk. We must be aware that our regulatory capacity, our banks and our insurers ' governance structure, are not yet sufficient to cope with the many risks posed by mixed operations. Now, the world is reviewing the problem of mixed operation, we must not ignore our banks to survive the impact of the financial crisis and forget, in terms of the ability to resist risk, we are far less than the current struggling financial institutions in Europe and America.