Reporter | Zhao Yangge

The margin trading system is a basic credit trading system. On March 30, 2010, the margin trading business was officially launched. As of February 5, the balance of margin trading in Shanghai stock market was 794.021 billion yuan, of which the financing balance was 755.218 billion yuan; the balance of margin trading in Shenzhen stock market was 686.75 billion yuan, of which the financing balance was 664.202 billion yuan.

Source: Exchange

Source: Exchange

according to the "answer to reporters' questions on the financing business of " on February 5, the CSRC said that so far, the average guarantee ratio in the whole market has been maintained at 226, this is down from the beginning of the year, and the minimum maintenance guarantee ratio (closing line) is usually 130 per cent. judging from the actual closing data, the cumulative closing amount of the whole market since January is about 0.9 billion yuan, accounting for 6/10000 of the financing scale, and the target and investors are highly diversified, and the overall risk is controllable. Of course, some investors actively sell shares to return the financing, which will result in a passive decline in the financing balance.

In the course of an investor's specific transaction, maintaining the guarantee ratio below the closing line does not mean that the position is forced to close immediately. Under the current market situation, in order to maintain the normal order of the market, the CSRC will guide securities companies to do a good job in customer service in an all-round way, by extending the recovery time, dynamically lowering the closing line, and maintaining the flexibility of the closing line, so as to reduce the risk of strong closing and market pressure.

The China Securities Regulatory Commission will continue to strengthen the daily supervision of the "two financing" financing business and take effective measures to ensure the smooth operation of the financing business.

On February 6, the China Securities Regulatory Commission further announced that after research and decision, the China Securities Regulatory Commission proposed three measures to further strengthen supervision of the securities lending business: First, suspend the scale of new securities refinancing, and use the current securities refinancing The balance is the upper limit, the scale of new securities companies' refinancing is suspended in accordance with the law, and the stock is gradually settled; the second is to require securities companies to strengthen the management of customer's trading behavior, it is strictly forbidden to provide securities lending to investors who use securities lending to implement intra-day turnaround transactions (disguised T 0 transactions); third, continue to increase supervision and law enforcement, and I will crack down on illegal activities such as improper arbitrage using securities lending transactions in accordance with the law to ensure securities lending The business runs smoothly.

Recently, the China Securities Regulatory Commission has taken a series of measures to strengthen supervision of the securities lending business in light of market conditions. since the implementation of the relevant system, the balance of short selling has dropped by 24% and has now dropped to 63.7 billion yuan, accounting for 0.1 of the circulating market value of a shares.

according to sorting, stocks with large margin data should be counted from lianying medical (688271.SH), haiguang information (688041.SH), Yunnan baiyao (000538.SZ), China merchants shekou (001979.SZ), aimei guest (300896.SZ), Daqin railway (601006.SH), etc. as of February 5, lianying medical's margin balance was 1.128 billion yuan and haiangying 0.984 billion margin balance was 0.854 billion yuan, and haiyuan, the balance of securities lending in China Merchants Shekou is 0.726 billion yuan.

but if you want to look at the proportion of margin balance to the market value of circulation, it is Dongtu Technology (300353.SZ), Hua Hong Company (688347.SH), Rongbai Technology (688005.SH) and other companies, February 5, the proportion of 5.54, 4.3, 2.78, respectively.

Source: Exchange

Source: Exchange

and on February 5 trading on the day of a certain impact, is the margin sales accounted for a higher proportion of turnover such as Baili Tianheng (688506.SH), Hua Hong Company, Shanxi Road and Bridge (000755.SZ), the proportion of 16.24, 13.59, 11.18, respectively.

Source: Exchange

Source: Exchange