新闻背景：上海证券交易所27日发布了《上海证券交易所风险警示股票交易实施细则(征求意见稿)》，上交所将设立风险警示板，退市股票简称前冠以“退市”标识，风险警示股票价格的涨幅限制为1%，跌幅限制为5%。

News background：Shanghai stock exchange 27 released《Shanghai stock exchange risk warnings detailed rules for the implementation of the stock exchange(Draft version of the)》，ShangJiaoSuo will establish risk threat board，Retreat city stock referred to as before“Retreat city”logo，Risk warnings of stock prices go up a limitation of 1%，Drop a limitation of 5%。

　　很长一段时间以来，A股的ST、*ST等壳资源板块一直是投机资金炒作的对象，也是内幕交易的温床。这些准退市公司，有的是弄虚作假、包装上市圈钱的高手；有的是不思进取、经营决策一错再错、把股东的钱往水里扔的败家子；有的是假重组真炒作、沦为庄家投机炒作的道具。如今，上交所拟设风险警示板，将风险警示股票价格涨幅限制为1%，跌幅限制为5%如此明显的助跌不助涨限制，意味着退市“发令枪”即将扣响。

For a long time，A shares of ST、* ST, shell has been speculative resource sector is the target of speculation，Is a hotbed of insider trading。These would-be retreat city company，Have a plenty of deception、Packing of the listed encircling money player；Have a plenty of adventurous、Management decision is a wrong again wrong、The shareholders' money into the water of throwing the black sheep of his family；Have a plenty of false restructuring really hype、A banker speculating prop。now，ShangJiaoSuo set to risk the threat board，Stock prices will risk warnings for the 1% limit，Drop a limitation for 5% so obvious aid fell not help up restrictions，Means retreat city“gun”Is about to buckle ring。

　　上交所相关细则的推出，将给A股带来四大正面影响：

ShangJiaoSuo detailed regulations launch，Will give A shares bring four positive effect：

　　其一，可使“优胜劣汰”从口号变成现实。优胜劣汰是市场喊得最多且最响亮的口号，然而事实却是优“剩”劣“抬”，绩优公司的股价被低估得只“剩”下皮包骨头了；绩差公司的股价却被重组、转型等概念幌子“抬”上了天。细则实施后，绩优、绩差公司的价值必然双向回归。

one，Can make“Superior bad discard”From slogans into reality。Is the most advanced market shout loud and most of the slogan，But the reality is optimal“left”bad“carried”，Optimal performance company's stock price undervalued to get to“left”Skin and bones under the；Sent the company's stock price performance but be restructured、The transition concept a cover“carried”On the day。After the implementation of the rules，Optimal performance、Poor performance the value of the company must return two-way。

　　其二，可打破终身制，使上市公司“能上能下”成为顺理成章、经常性的市场行为。正所谓流水不腐，终身制必然滋生上市公司不思进取、高枕无忧的观念。只顾圈钱，不顾回报的“滥竽”在合奏中也许还能混得像个人样，而在退市压力之下，“滥竽”才能真正产生危机感，才能想办法、下工夫提升业绩。退市“发令枪”一响，谁都得奋起直追。

The second，Can break for life，Of the listed company“Can be on”Matter become、Regular market behavior。Is a so-called，Listed companies must be life tenure we grow old by deserting our ideals、Insouciant concept。Encircling money only，Regardless of the return“Visualszto abuse”In the ensemble might also be able to mix as personal kind，And in retreat city under pressure，“Visualszto abuse”Can really produce the crisis，To think of a way to、Effort to performance improvement。Retreat city“gun”A ring，Who have to rush。

　　其三，可杜绝上市公司的制假现象。长期以来，上市公司“真瓶装假酒”的现象严重，假货、劣货和真货、优货摆在同一个股市货架上，真货少人问津，假货在炒作和内幕交易之下反倒成了抢手货。把假货、劣货取下来烧掉，才是对中小投资者的真正保护。

thirdly，Can put an end to the listed company's counterfeiting phenomenon。long，Listed company“True bottled false wine”Phenomenon serious，fake、LieHuo and the genuine article、Optimal goods shelves in the same market，The real thing less people attention，Fake in the hype and insider trading but became under specialities。The fake、LieHuo taken down and burned，Is the real protection of small investors。

　　其四，可从源头上堵住“上市只为圈钱”的邪路。长期以来，很多上市公司有一个根深蒂固的观念，认为上市就是为了圈钱，股市就像一棵不用施肥的摇钱树、一台不用还本付息的提款机；很多公司上市后，从不给投资者回报。退市制度真正落实后，上述邪路将被封堵。

Its 4，Can be blocked from the source“Listed for encircling money”Astray of。long，Many listed companies have a deep-rooted idea，Think listed is to circle the money，The stock market is like a tree without fertilization cash cow、One need not servicing cash machines；Many after company listed，Never return to investors。Retreat city system after really implement，The above astray will be blocked。

　　值得注意的是，细则实施以后，相应的退市后投资者赔偿细则也应及时出台。作为投资者，也应树立正确的投资观，选择成长性好的绩优股票，而不是去赌重组博投机，把自己推到退市边缘。苏渝

Note the，After implementation rules，The corresponding retreat city after investors should be timely rules for compensation to come。As an investor，Also should set up the right investment concept，Choose growth good blue chip stocks ticket，And not to bet on restructuring bo speculation，To push yourself to retreat city edge。SuYu