Meter: Finance is rooted in the industrial Foundation to achieve a double win

2010 China's top 500 companies announced the September 5 financial reform and Business Growth Forum. The picture is meter, executive general manager of CITIC Securities asset business.　　(Photo source: Sina Finance and Economics Liang) 2010 Chinese Enterprises 500 strong release and China Big Enterprise Summit September 5 financial reform and Enterprise Growth Forum, CITIC Securities Asset business executive general Manager meter speech. Yang Du: Thank you, Chairman Zhang, a very small case tells us that there are times when we think that bank loans are for SMEs, so from this point of view, I think the general statement is very enlightening to us.　　Citic Securities Department Liu is always different from the investment and do industry, from your point of view, there must be a good idea, and you share. Meter: From my perspective on the relationship between finance and business, I understand that, in the aftermath of the US financial tsunami, the inflation model, which is actually completely self cyclical, is being questioned, and to a large extent the return to financial and industrial integration may be more in line with today's issues, the relationship between finance and business growth, In other words, the mere circulation and expansion of the financial self is now being questioned, I think whether in foreign countries or at home, are in the emergence of how to use good finance, how to effectively combine finance and industry such a large direction, from my personal long-term work experience, long-term thinking how to use finance to promote the growth of enterprises, In this case, I look closely at the cases of many listed companies, whether it is Vanke financial sector, or CITIC Securities, we see a company in the past period of history, many enterprises profit size and net assets scale, asset size has been close to the rise in the order of magnitude, in the process of careful analysis of its source of profit, It's easy to see which parts of the original industry's own profit growth, and which part of it comes from his use of financial instruments, which is separate, but by directly taking advantage of the profits from the capital markets, many companies will find that in the course of 5-8 years of growth, The ultimate capital formation that finance provides to him should be said to account for more than 50%, even some companies account for more than 70%. From another point of view, the development of the whole country's economy is essentially the process of capital formation, which is similar to the capital formation process of listed companies, are based on finance to complete, from the perspective of my feeling, from the direct financing of capital markets, after the current domestic whole direction, Capital market should say that the basic direction is the diversification of the city, internationalization trend, just said SME gem, in this context, the trend of capital market internationalization will be further strengthened, here in the future to provide, whether the Chinese market, China's economy or China's enterprises, the source of funds will continue to internationalize. Including the previous stage of the IPO of Agricultural Bank.　　As well as the beginning of the Middle East, I think the internationalization of funding sources, including the future financing of the main body internationalization, will be for our future industry to find financial market support, will gain a broader depth and a better foundation. Yang Du: I listened to the Chairman's statement toBefore people think that Wenzhou will not be able to fry the house, it is also a financial operation; Our manufacturing industry is still very large, but also financing, there is a good foundation, I would like to put forward a point of view, Anhui Enterprises and Hefei Enterprises should still use our industry.　　Please let Liu talk about it. Meter: It should be said that quite a while time is to stand on the investment point of view of listed companies, after a long time we have to do industrial people are a kind of respect from the heart, if these do not make the business, bigger, we feel that they are particularly embarrassed, we are doing, like back to the 90 's, the special toss. We and many do industrial people look at the investment financial Perspective is very similar, our job is to be able to judge the risk in advance, think he can go to the path of growth, if this judgment is right, may be in the investment is a relatively successful case. We are in this process, because often with many listed companies, some may be hurried, some gradually form mutual communication and mutual exploration of the relationship, sometimes is quite anxious, if really want to do things and do a good job, In our hearts, we all feel particularly anxious to combine many of the characteristics of this capital market with the wishes of industry. I think whether as a person, as a business, or as a group, the so-called growth, on the one hand, this thing is carried out in accordance with a certain strategy, another level, in the implementation process how to effectively integrate various resources to promote their ideas and this matter. The relationship between finance and business, from financial point of view, it is a booster, if our company does not have industrial ideas, even if the pure financial people, it is difficult to get approval, if you have such an idea, you can use good financial instruments, indeed can produce a very strong effect of propulsion, This is what we feel and think about doing our daily work.