金融街证券张一:改革定价存在时间差,三类中长期红利仍被低估

东方财富网
Oct 25

自新“国九条”落地以来,围绕提升投资者回报,新一轮资本市场改革在发行融资、分红回购、减持约束、退市出清等环节逐步铺开,制度红利随之释放。  回报端与融资端相对关系的变化尤为直观。2026金融街论坛年会披露的数据显示,年内上市公司分红回购达2.1万亿元,是同期IPO和再融资金额的2.7倍。该组数据指向,资本市场定位正从注重融资向“投融资功能相协调”转变。  不过,市场认知的更新往往慢于规则调整,改革...

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