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3. Reform of comprehensive registration systemSecond, the stock market ecology under the registration system

3. Reform of comprehensive registration systemSecond, the stock market ecology under the registration system(Write something casually whenever you want to keep it for yourself.)

It is believed that with the maturity of our registration system, the risk of buying junk stocks will be very great, the bad habit of speculation will be fundamentally changed, the market will focus on value growth, core index stocks will be an important choice direction of the market, index ETF will become the main channel for ordinary investors to participate in the stock market, indexed investment, bilateral hedging trading channels with developed institutions and quantitative trading institutions in the era of artificial intelligence will make it more difficult for short-term trading retail investors to survive, and the characteristics of institutional de-retailing will develop very rapidly.First, the relationship between the big bull market and the great changes in the capital market