Wu Zhengqing, chairman of the ticket Finance Association, delivered a public welfare speech on Hong Junpei Culture and Education Foundation.

Wu Zhengqing, chairman of the ticket Finance Association, delivered a public welfare speech on Hong Junpei Culture and Education Foundation.

(Taiwan Business News) in recent years, books on financial management and investment in major bookstores have become popular, and the films and books of some successful people have also become popular, pointing out one thing: the difference between the rich and the poor lies not in the wage gap, but in how to use and treat every dollar. On March 9, the Hong Junpei Culture and Education Foundation invited Wu Zhengqing, director of the Securities Finance and Business Association, to give a speech on "ticket finance, innovation and breakthrough." chairman Wu shares his experience with his years of experience in the financial and securities management and service industries, and the public have a new concept.

The financial market can be divided into capital market, money market and foreign exchange market. The capital market is the market for the supply and demand of long-term funds for more than one year (for example, the market for the issuance and trading of long-term credit instruments such as stock market and bond market). The money market is a market that regulates the supply and demand of short-term funds and uses short-term credit instruments to finance funds for a period of less than one year. The money market is actually the short-term capital lending market, mainly including short-term bills and interbank lending market. On the other hand, the money market is open, allowing both supply and demand to borrow directly with full understanding of the market. Participants in this market, including individuals, enterprises, banks and governments, may be suppliers of funds or those in need.

Wu Cheng-ching pointed out that the evolution of Taiwan's money market is closely related to the process of Taiwan's economic growth, and the elements for the establishment of the money market should have adequate and excellent short-term credit tools and sound intermediary institutions. Taiwan's small and medium-sized enterprises flourished in the 1960s and 1970s, so ticket finance came into being.

Note financial companies, also known as short-term note dealers, refer to those who operate short-term (within one-year financing period) ticket trading business in the money market. In other words, note financial companies provide another source of financing for businesses and individuals in addition to banks. The basic function of note finance companies is to collect and use short-term funds in the money market as a medium for savers and investors, so that lenders with short-term surplus funds and borrowers who lack short-term funds can satisfy each other's desires through transactions in the note (money) market. The trading instruments for the exclusive business of bill brokers are: Treasury bills, negotiable bank certificates of deposit, bills of exchange (bank acceptance bills, commercial acceptance bills), commercial promissory notes.

Treasury bills refer to short-term debt securities issued by the government for less than one year in order to regulate treasury revenue and expenditure and stabilize finance. The issuance shall be handled by auction, and the amount, denomination and time limit of the issue shall be determined by the Ministry of Finance in consultation with the central bank. The issue is usually auctioned at an open price and issued at a single interest rate, and the maturity is repaid at face value. The issue date is usually issued with a base multiple of 91 days, that is, 91 days, 182 days, 273 days and 364 days.

A bank acceptance bill refers to a Usance bill that the buyer or seller of a commercial transaction entrusts the bank to accept as the drawee. The debtor of the bill accepted by the bank is the accepting bank with low risk and is a good trading tool in the money market. it can be divided into two categories: (1) the bank acceptance bill based on the domestic forward letter of credit. (2) A banker's acceptance of a bill arising from the direct granting of the acceptance limit to the customer. On the other hand, the commercial acceptance bill refers to the seller of the commercial transaction, in order to collect the payment, the bill designated by the buyer as the drawee is issued after delivery, and after acceptance by the buyer, the seller can discount the bill to the money market when he needs funds.

A certificate of deposit issued by a transferable bank to pay interest at an agreed interest rate for a specified period of time, ranging from one month to one year, either by registered or bearer, which can be held to the maturity date or transferred and sold in the money market. In addition, in order to regulate market funds, the central bank will also issue transferable certificates of deposit, but only financial institutions can apply for transferable certificates of deposit by the central bank.

Wu Zhengqing said that the secondary "circulation market" of the ticket market, which is related to the general public, has the following advantages: 1. Personal interest income is taxed separately by 10%, and corporate interest income is incorporated into profit-making enterprise income tax 2. With fixed interest, it is convenient to live. Flexible fund dispatching.

Because financial management is necessary for modern people, Wu Zhengqing finally gave several investment suggestions: take protective measures, clarify investment objectives, save taxes as much as possible, strive for cash income to keep pace with inflation, start investment from home, commercial real estate has investment value, try to understand other financial commodities except stocks, set stop and loss points for investment in financial commodities, be cautious in investing gold and collectibles, and diversify investment. He believes that it is safer to make decisions based on these major principles.

Wu Zhengqing also put forward five principles for Chinese people to invest in stocks: 1. Set stop loss and profit targets before entering the market. Stop loss should be based on market information rather than its own financial situation. If the finance cannot afford the stop loss, the transaction should be abandoned.

two。 Good companies and good stocks are two different things: investors always get lost in fundamentals when they enter the market and actually become bad stocks when the share price of a good company is overvalued. When a bad company's share price is undervalued, it becomes a good stock. You should be friends with the trend. When a stock goes up or down for a period of time, the momentum of the stock usually increases, meaning that the possibility of continuing the current trend is much higher than the possibility of reversing, buying stocks with upward trends and selling stocks with downward trends.

4. Low stock prices are not as good as timing: many investors tend to jump low and enter the market at the beginning of the session, always thinking that they can get a good price, but there is always some unknown reason for a stock to jump low and open. And stocks that jump low at the start of trading tend to continue to fall. 5. Never increase the amount of equalization, loss leveling is by no means pre-planned, the stock price continues to fall for a reason.

Wu Zhengqing, chairman of the bill finance and commerce association, small file

Chairman Wu Zhengqing holds a bachelor's degree in banking from National Chengchi University and a master's degree in the Institute of Finance and Finance of National Taiwan University (EMBA). He has served as the leader of the Taipei Branch of the American Commercial Bank, Associate and Trading Manager of the International Bond Finance Corporation, General Manager of Fubon Bond Finance Corporation, General Manager of Fubon Bond Financial Corporation, General Manager of Fubon Financial Market Group, Executive Deputy General Manager of Taipei Fubon Bank, General Manager of China Bond Finance Corporation, etc. He is currently the chairman of the China Notes Finance Corporation, the chairman of the Republic of China Notes Financial Business Association, the director of the Taiwan Financial Research and training Institute of the financial group, the director of the association of Taiwan financial services, the director of the Republic of China Association for the Promotion of Industry and Commerce, the director of the National Chamber of Commerce of the Republic of China, and the independent director of Mao Co., Ltd.

Hong Junpei Culture and Education Foundation 103 commonweal speech