Lang Xianping: Blind listing of Chinese manufacturing industry is a tragedy

At the 5th China Online Retail Conference held on December 6, the famous economist Lang Xianping and today's Capital President Xu Xinjun expressed their views on the exchange rate and corporate listing. Both believe that Chinese companies should not be blindly listed, and Lang Xianping also pointed out that our inexplicable pursuit and worship of listing is a tragedy. Chinese companies should strive for excellence.

The exchange rate is the war without gun smoke Lang Xianping said, we do not see the appreciation of the *** too simple, this is a war without smoke, defeating the economy will be hit hard. He said that in 1985, the United States was Japan’s currency issue and ended in Japan’s failure. The failure of the Japanese exchange rate war defeated the loss of the Second World War.

However, according to the survey, if the *** appreciation of 3%, China's traditional industries will be affected. If it exceeds 5%, a large number of traditional industries will fail. On the other hand, the US devaluation of the US dollar led to the appreciation of raw materials, and the rise in raw materials will inevitably have an impact on China's manufacturing industry.

The manufacturing industry should not blindly list the forum. The moderator raised a question about why so many Chinese companies went to the US and why they were not listed on the Chinese startup board. What are the benefits of Chinese companies going public in the United States?

Lang Xianping said with some excitement: "We are inexplicably chasing and admiring the listing. This is a tragedy," he said for example. China's products last year caused anti-dumping, but China imported more than 700 million textile machinery from Germany last year. What does that mean? It is Germany's export products that are high value-added products. However, China’s exports today are the wrong pattern and are the pattern of excess production capacity. It is very difficult to change.

Germany's exports are very high, and the value created is very high. They have a variety of small businesses, but the listing is rare because it is doing their job well and the products are doing well. This is the basis of manufacturing. Lang Xianping met a German. The four generations of his family were working on book binding machines. They were all studying how to put this better. They spent more than 10 billion yuan on funds. They are the world's largest. And our busy listing is impetuous, did not think of excellence, which is a blow to a country's manufacturing industry. We lack the spirit of excellence like Germany.

Xu Xin added that there are several reasons why companies choose to enter the United States instead of choosing China. First, U.S. investors are willing to invest in the future. Chinese fever is also a reason. They are willing to enter Chinese companies.

However, Xu Xin suggested that Chinese companies should be best listed in their own countries. We all know what to do. "Baidu and Sina went public in the United States and they all didn't understand who it was." In addition, the high cost of foreign listings amounts to 100 to 2 million US dollars each year. Moreover, the United States is not the same as domestic easing. If it finds that it is false, it will immediately start a class action lawsuit and the stock price will come down immediately, so the risk is high.

Xu Xin suggested that the company should go well before going public. And on the market, you have to tell the public about your core competencies, which is also a risk. Listing is not the end of business success, it is only a milestone for the company.