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2. Share reform marketOne of the characteristics of the approval system is the scarcity of listed resources and the long-term lack of metabolism in the market. "Shell resources" is an important reason for the tradition of evil speculation in our market.3. Reform of comprehensive registration system

First, the relationship between the big bull market and the great changes in the capital market1, the relationship between 519 market and policy change.

Second, the stock market ecology under the registration system2. Share reform marketThe mature stock market is registered, which is linked with the developed short-selling mechanism of individual stocks. The high elimination rate of Nasdaq and a large number of fairy stocks in Hong Kong stocks are all formed under the joint action of the developed short-selling mechanism of individual stocks under the registration system. The registration system makes the issuance and listing of new shares convenient and easy, and will be short-listed and rarely become a "shell resource".