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新三板分层制度已然落地,但流动性问题依旧困扰市场,6月份最后一周的日均成交金额仍不足10亿元,自然很难满足7600多家挂牌企业、近2万亿市值的流动性需求。何以破解新三板流动性谜题?笔者认为,长期以来新三板定位模糊不清、雾里看花,是造成目前流动性困局的重要原因,甚至可能是本源性原因。三大缺陷单纯从监管层的要求看,对新三板的定位早有定论。无论是2013年底的国务院49号文,还是
The new three-tier system has already landed. However, the liquidity problem still bothers the market. The average daily turnover in the last week of June is still less than RMB1 billion. Naturally, it is difficult to meet the liquidity demand of more than 7600 listed companies with a market capitalization of nearly 2 trillion yuan . How to break the new three board liquidity puzzles? I believe that for a long time the new three board ambiguous, misty flowers, is caused by the current liquidity predicament of the important reasons, and may even be the origin of reason. The three major shortcomings simply from the regulatory requirements, the positioning of the new board has long been conclusive. Whether State Department 49, the end of 2013, or