{"status":true,"post":{"id":30076,"user_id":2,"status":1,"type":1,"orde":null,"notification_type":3,"static_post":0,"published_at":"2022-10-24 16:14:10","created_at":"2021-12-16T21:00:00.000000Z","updated_at":"2022-10-24T13:14:10.000000Z","edited_at":"2024-12-17 22:35:21","source_id":null,"post_id":30076,"is_featured":0,"title":"\u00c7in Kom\u00fcnist Partisi\u2019nin halka arz ikilemi","slider_title":null,"slider_title_2":null,"slider_spot_title":null,"slider_spot_title_2":null,"home_title":null,"sub_title":null,"category_id":73,"description":null,"content":"  \t\t\t\t\t  \t\t\t\t\t<p style=\"text-align: right;\"><span class=\"large\"><strong>FAT\u0130H OKTAY<\/strong><\/span><br><span class=\"large\"> <strong><\/strong><\/span><\/p>  <p><span class=\"large\">\u00c7in, piyasa ekonomisi reformlar\u0131 d\u00f6neminde hisse senedi d\u00fcnyas\u0131na, 90\u2019lar\u0131n ba\u015flar\u0131nda Shanghai ve Shenzhen\u2019de kurulan iki borsa ile ad\u0131m att\u0131. Ba\u015flang\u0131\u00e7ta bu borsalar\u0131n ana i\u015flevi, devlet \u015firketlerine finansman sa\u011flamakt\u0131. Borsalarda hisse senedi arz\u0131, \u015feffaf olmayan s\u00fcre\u00e7lerle devlet taraf\u0131ndan verilen izne ba\u011fl\u0131yd\u0131 ve bu izni alanlar\u0131n hemen hepsi devlet \u015firketiydi. 2000\u2019lerin ba\u015flar\u0131ndan itibaren durum h\u0131zla de\u011fi\u015fti; izin s\u00fcre\u00e7leri \u015feffafla\u015ft\u0131 ve giderek artan say\u0131da \u00f6zel \u015firket halka arz ger\u00e7ekle\u015ftirme olana\u011f\u0131n\u0131 elde eder oldu. G\u00fcn\u00fcm\u00fczde \u00fclke borsalar\u0131nda hisseleri i\u015flem g\u00f6ren \u00f6zel \u015firket say\u0131s\u0131, devlet \u015firketlerinin birka\u00e7 kat\u0131na ula\u015f\u0131yor.<\/span><br><span class=\"large\"><\/span><br><span class=\"large\"> Olduk\u00e7a yeni kurulmu\u015f olmalar\u0131na kar\u015f\u0131n \u00c7in borsalar\u0131, i\u015flem g\u00f6ren \u015firketlerin toplam piyasa de\u011feri ile \u00f6l\u00e7\u00fcld\u00fc\u011f\u00fcnde, b\u00fcy\u00fckl\u00fck olarak ABD\u2019nin ard\u0131ndan d\u00fcnyada ikinci s\u0131rada yer al\u0131yor. Bu borsalar\u0131n bir \u00f6zelli\u011fi, bireysel yat\u0131r\u0131mc\u0131lar\u0131n b\u00fcy\u00fck a\u011f\u0131rl\u0131\u011f\u0131 olmas\u0131; i\u015flem hacminin y\u00fczde 80 dolay\u0131nda bir b\u00f6l\u00fcm\u00fc bireysel yat\u0131r\u0131mc\u0131lar taraf\u0131ndan ger\u00e7ekle\u015ftiriliyor. \u00c7in\u2019in ulusal tasarruflar\u0131, bir ara \u00fclke gayrisafi yurt i\u00e7i has\u0131las\u0131n\u0131n yar\u0131s\u0131n\u0131 a\u015f\u0131yordu, \u015fimdilerde de y\u00fczde 45 dolaylar\u0131nda. Bu dev tasarruflar\u0131n yakla\u015f\u0131k yar\u0131s\u0131 bireysel tasarruflardan olu\u015fuyor. \u00c7inli bireylerin dev tasarruf havuzu yat\u0131r\u0131m olanaklar\u0131 ar\u0131yor.<\/span><br><span class=\"large\"><\/span><br><span class=\"large\"> <strong>TEKNOLOJ\u0130 \u015e\u0130RKETLER\u0130<\/strong><\/span><br><span class=\"large\"><\/span><br><span class=\"large\"> B\u00f6ylesine b\u00fcy\u00fck borsalar ve yat\u0131r\u0131mc\u0131 i\u015ftah\u0131n\u0131n varl\u0131\u011f\u0131na kar\u015f\u0131n ge\u00e7ti\u011fimiz y\u0131llarda ba\u015fta Alibaba ve Tencent gibi devler olmak \u00fczere \u00c7in\u2019in teknoloji \u015firketlerinin b\u00fcy\u00fck bir k\u0131sm\u0131 hisselerinin halka arz\u0131 i\u00e7in \u00c7in de\u011fil, ABD borsalar\u0131na y\u00f6neliyordu. Resmi verilere g\u00f6re, bu y\u0131l\u0131n ortalar\u0131nda 250 dolay\u0131nda \u00c7inli \u015firketin hisseleri ABD borsalar\u0131nda i\u015flem g\u00f6r\u00fcyordu ve bunlar\u0131n toplam piyasa de\u011feri 2 trilyon ABD dolar\u0131n\u0131 a\u015f\u0131yordu.<\/span><br><span class=\"large\"><\/span><br><span class=\"large\"> Bu durum bir\u00e7ok nedenden kaynaklan\u0131yorsa da ba\u015f neden, iznin yeni teknoloji \u015firketleri i\u00e7in yerine getirmesi zor ko\u015fullar gerektirmesiydi. Yeni teknoloji \u015firketleri, kurulu\u015flar\u0131ndan sonra uzun s\u00fcre k\u00e2rl\u0131 olamazlar; piyasalar bunlar\u0131n hisselerini gelecekte beklenen karlara g\u00f6re de\u011ferlendirir. Bu \u015firketler geli\u015fme s\u00fcre\u00e7lerinin ba\u015flar\u0131nda sa\u011flad\u0131klar\u0131 kaynaklarla \u00fcr\u00fcnlerini ve pazarlar\u0131n\u0131 geli\u015ftirir, zaman i\u00e7inde k\u00e2rl\u0131l\u0131\u011fa ge\u00e7erler. \u00c7in\u2019de ise yetkililer, bunun \u00f6zellikle bireysel yat\u0131r\u0131mc\u0131lar\u0131n kayba u\u011framas\u0131na yol a\u00e7mas\u0131 endi\u015fesiyle k\u00e2rl\u0131 olmayan \u015firketlere halka arz izni vermeye yana\u015fm\u0131yordu. Bunun da alt\u0131nda, bu \u00fclkede her \u015fey benden sorulur diyen ve finansal sistem \u00fczerinde g\u00fc\u00e7l\u00fc bir kontrol\u00fc olan \u00c7in Kom\u00fcnist Partisi\u2019nin bu t\u00fcr kay\u0131plardan sorumlu tutulma kayg\u0131s\u0131 bulunuyordu.<\/span><br><span class=\"large\"><\/span><br><span class=\"large\"> \u00c7in Kom\u00fcnist Partisi\u2019nin hisse senedi piyasalar\u0131n\u0131 geli\u015ftirme ve bunlar\u0131 \u00f6zel sekt\u00f6re a\u00e7ma \u00e7abalar\u0131n\u0131n ard\u0131nda, bunun ABD \u00f6rne\u011finde teknolojik geli\u015fmeye sa\u011flayaca\u011f\u0131 yararlar\u0131 g\u00f6zetmesi vard\u0131, ancak bir yandan da k\u00e2rl\u0131l\u0131\u011f\u0131 belirsiz \u015firketlere pazar\u0131 a\u00e7maya eli varm\u0131yordu. <\/span><br><span class=\"large\"><\/span><br><span class=\"large\"> <strong>STAR PAZARI<\/strong><\/span><br><span class=\"large\"> <strong><\/strong><\/span><br><span class=\"large\"> Bu durum, Xi Jinping\u2019in de a\u011f\u0131rl\u0131\u011f\u0131n\u0131 koymas\u0131yla 2019 ortalar\u0131nda de\u011fi\u015fti. Bu tarihlerde Shanghai borsas\u0131 b\u00fcnyesinde kurulan Yeni Teknoloji ve Bilimsel \u0130novasyon Pazar\u0131 ya da \u0130ngilizce k\u0131sa ad\u0131yla STAR pazar\u0131nda, teknoloji alan\u0131nda ba\u015far\u0131l\u0131 yeni \u015firketler i\u00e7in kolayl\u0131kla ve kan\u0131tlanm\u0131\u015f k\u00e2rl\u0131l\u0131k ko\u015fulu olmaks\u0131z\u0131n hisselerinin arz\u0131n\u0131 ger\u00e7ekle\u015ftirme olana\u011f\u0131 sa\u011fland\u0131. ABD\u2019de Trump y\u00f6netimi ile ba\u015flay\u0131p s\u00fcren \u00c7inli \u015firketlere kar\u015f\u0131 olumsuz tav\u0131r ve bunlar\u0131n ABD pazarlar\u0131ndan finansman sa\u011flamas\u0131n\u0131n zorla\u015ft\u0131r\u0131lmas\u0131 y\u00f6n\u00fcndeki geli\u015fmelerin de etkisiyle yeni pazara talep g\u00fc\u00e7l\u00fc oldu; 2021 ortalar\u0131nda pazarda i\u015flem g\u00f6ren \u015firket say\u0131s\u0131 300\u2019\u00fcn \u00fczerindeydi. Bununla beraber yeni pazar, yeni teknoloji \u015firketlerinin hayat\u0131n\u0131 kolayla\u015ft\u0131rmakla sa\u011fl\u0131ks\u0131z \u015firketlerin pazara girmesi riskini kontrol etme aras\u0131ndaki dengeyi bulma s\u00fcrecinde bulunuyor.<\/span><br><span class=\"large\"><\/span><br><span class=\"large\"> Ge\u00e7ti\u011fimiz ay \u00c7in\u2019in iki borsas\u0131na bir de Beijing Hisse Senedi Borsas\u0131 eklendi. Bu da a\u011f\u0131rl\u0131kl\u0131 olarak yeni geli\u015fen teknoloji \u015firketlerine y\u00f6nelik bir borsa olarak konumlanm\u0131\u015f bulunuyor. \u00c7in Kom\u00fcnist Partisi, ikilemini teknolojiyi destekleme y\u00f6n\u00fcnde k\u0131r\u0131yor g\u00f6r\u00fcn\u00fcyor.<\/span><\/p>  \t\t\t\t","slug":"cin-komunist-partisinin-halka-arz-ikilemi","tags":"K\u00f6\u015fe Yaz\u0131s\u0131","meta_title":"\u00c7in Kom\u00fcnist Partisi\u2019nin halka arz ikilemi","meta_description":"FAT\u0130H OKTAY","meta_keywords":"K\u00f6\u015fe Yaz\u0131s\u0131","news_cover_min":null,"news_cover":null,"news_video_min":null,"news_video":null,"view_count":1111,"cropped_1200x675":null,"user":{"id":2,"name":"FAT\u0130H","surname":"OKTAY","email":"ozansoy.tuna@akay.com","slug":"fatih-oktay","avatar":"\/front\/uploads\/avatar\/1733691600qSRn7kb3ZZVHU3t.webp","status":1,"role":1,"email_verified_at":null,"orde":null,"created_at":"2022-09-15T09:39:41.000000Z","updated_at":"2024-12-18T14:51:22.000000Z","seo_title":null,"seo_description":null},"translations":[{"id":30175,"is_featured":0,"is_amp":0,"is_ads":0,"ads_link":null,"post_id":30076,"locale":"tr","category_id":73,"title":"\u00c7in Kom\u00fcnist Partisi\u2019nin halka arz ikilemi","home_title":null,"sub_title":null,"slider_title":null,"slider_title_2":null,"slider_spot_title":null,"slider_spot_title_2":null,"subtitleuse":0,"description":null,"content":"  \t\t\t\t\t  \t\t\t\t\t<p style=\"text-align: right;\"><span class=\"large\"><strong>FAT\u0130H OKTAY<\/strong><\/span><br><span class=\"large\"> <strong><\/strong><\/span><\/p>  <p><span class=\"large\">\u00c7in, piyasa ekonomisi reformlar\u0131 d\u00f6neminde hisse senedi d\u00fcnyas\u0131na, 90\u2019lar\u0131n ba\u015flar\u0131nda Shanghai ve Shenzhen\u2019de kurulan iki borsa ile ad\u0131m att\u0131. Ba\u015flang\u0131\u00e7ta bu borsalar\u0131n ana i\u015flevi, devlet \u015firketlerine finansman sa\u011flamakt\u0131. Borsalarda hisse senedi arz\u0131, \u015feffaf olmayan s\u00fcre\u00e7lerle devlet taraf\u0131ndan verilen izne ba\u011fl\u0131yd\u0131 ve bu izni alanlar\u0131n hemen hepsi devlet \u015firketiydi. 2000\u2019lerin ba\u015flar\u0131ndan itibaren durum h\u0131zla de\u011fi\u015fti; izin s\u00fcre\u00e7leri \u015feffafla\u015ft\u0131 ve giderek artan say\u0131da \u00f6zel \u015firket halka arz ger\u00e7ekle\u015ftirme olana\u011f\u0131n\u0131 elde eder oldu. G\u00fcn\u00fcm\u00fczde \u00fclke borsalar\u0131nda hisseleri i\u015flem g\u00f6ren \u00f6zel \u015firket say\u0131s\u0131, devlet \u015firketlerinin birka\u00e7 kat\u0131na ula\u015f\u0131yor.<\/span><br><span class=\"large\"><\/span><br><span class=\"large\"> Olduk\u00e7a yeni kurulmu\u015f olmalar\u0131na kar\u015f\u0131n \u00c7in borsalar\u0131, i\u015flem g\u00f6ren \u015firketlerin toplam piyasa de\u011feri ile \u00f6l\u00e7\u00fcld\u00fc\u011f\u00fcnde, b\u00fcy\u00fckl\u00fck olarak ABD\u2019nin ard\u0131ndan d\u00fcnyada ikinci s\u0131rada yer al\u0131yor. Bu borsalar\u0131n bir \u00f6zelli\u011fi, bireysel yat\u0131r\u0131mc\u0131lar\u0131n b\u00fcy\u00fck a\u011f\u0131rl\u0131\u011f\u0131 olmas\u0131; i\u015flem hacminin y\u00fczde 80 dolay\u0131nda bir b\u00f6l\u00fcm\u00fc bireysel yat\u0131r\u0131mc\u0131lar taraf\u0131ndan ger\u00e7ekle\u015ftiriliyor. \u00c7in\u2019in ulusal tasarruflar\u0131, bir ara \u00fclke gayrisafi yurt i\u00e7i has\u0131las\u0131n\u0131n yar\u0131s\u0131n\u0131 a\u015f\u0131yordu, \u015fimdilerde de y\u00fczde 45 dolaylar\u0131nda. Bu dev tasarruflar\u0131n yakla\u015f\u0131k yar\u0131s\u0131 bireysel tasarruflardan olu\u015fuyor. \u00c7inli bireylerin dev tasarruf havuzu yat\u0131r\u0131m olanaklar\u0131 ar\u0131yor.<\/span><br><span class=\"large\"><\/span><br><span class=\"large\"> <strong>TEKNOLOJ\u0130 \u015e\u0130RKETLER\u0130<\/strong><\/span><br><span class=\"large\"><\/span><br><span class=\"large\"> B\u00f6ylesine b\u00fcy\u00fck borsalar ve yat\u0131r\u0131mc\u0131 i\u015ftah\u0131n\u0131n varl\u0131\u011f\u0131na kar\u015f\u0131n ge\u00e7ti\u011fimiz y\u0131llarda ba\u015fta Alibaba ve Tencent gibi devler olmak \u00fczere \u00c7in\u2019in teknoloji \u015firketlerinin b\u00fcy\u00fck bir k\u0131sm\u0131 hisselerinin halka arz\u0131 i\u00e7in \u00c7in de\u011fil, ABD borsalar\u0131na y\u00f6neliyordu. Resmi verilere g\u00f6re, bu y\u0131l\u0131n ortalar\u0131nda 250 dolay\u0131nda \u00c7inli \u015firketin hisseleri ABD borsalar\u0131nda i\u015flem g\u00f6r\u00fcyordu ve bunlar\u0131n toplam piyasa de\u011feri 2 trilyon ABD dolar\u0131n\u0131 a\u015f\u0131yordu.<\/span><br><span class=\"large\"><\/span><br><span class=\"large\"> Bu durum bir\u00e7ok nedenden kaynaklan\u0131yorsa da ba\u015f neden, iznin yeni teknoloji \u015firketleri i\u00e7in yerine getirmesi zor ko\u015fullar gerektirmesiydi. Yeni teknoloji \u015firketleri, kurulu\u015flar\u0131ndan sonra uzun s\u00fcre k\u00e2rl\u0131 olamazlar; piyasalar bunlar\u0131n hisselerini gelecekte beklenen karlara g\u00f6re de\u011ferlendirir. Bu \u015firketler geli\u015fme s\u00fcre\u00e7lerinin ba\u015flar\u0131nda sa\u011flad\u0131klar\u0131 kaynaklarla \u00fcr\u00fcnlerini ve pazarlar\u0131n\u0131 geli\u015ftirir, zaman i\u00e7inde k\u00e2rl\u0131l\u0131\u011fa ge\u00e7erler. \u00c7in\u2019de ise yetkililer, bunun \u00f6zellikle bireysel yat\u0131r\u0131mc\u0131lar\u0131n kayba u\u011framas\u0131na yol a\u00e7mas\u0131 endi\u015fesiyle k\u00e2rl\u0131 olmayan \u015firketlere halka arz izni vermeye yana\u015fm\u0131yordu. Bunun da alt\u0131nda, bu \u00fclkede her \u015fey benden sorulur diyen ve finansal sistem \u00fczerinde g\u00fc\u00e7l\u00fc bir kontrol\u00fc olan \u00c7in Kom\u00fcnist Partisi\u2019nin bu t\u00fcr kay\u0131plardan sorumlu tutulma kayg\u0131s\u0131 bulunuyordu.<\/span><br><span class=\"large\"><\/span><br><span class=\"large\"> \u00c7in Kom\u00fcnist Partisi\u2019nin hisse senedi piyasalar\u0131n\u0131 geli\u015ftirme ve bunlar\u0131 \u00f6zel sekt\u00f6re a\u00e7ma \u00e7abalar\u0131n\u0131n ard\u0131nda, bunun ABD \u00f6rne\u011finde teknolojik geli\u015fmeye sa\u011flayaca\u011f\u0131 yararlar\u0131 g\u00f6zetmesi vard\u0131, ancak bir yandan da k\u00e2rl\u0131l\u0131\u011f\u0131 belirsiz \u015firketlere pazar\u0131 a\u00e7maya eli varm\u0131yordu. <\/span><br><span class=\"large\"><\/span><br><span class=\"large\"> <strong>STAR PAZARI<\/strong><\/span><br><span class=\"large\"> <strong><\/strong><\/span><br><span class=\"large\"> Bu durum, Xi Jinping\u2019in de a\u011f\u0131rl\u0131\u011f\u0131n\u0131 koymas\u0131yla 2019 ortalar\u0131nda de\u011fi\u015fti. Bu tarihlerde Shanghai borsas\u0131 b\u00fcnyesinde kurulan Yeni Teknoloji ve Bilimsel \u0130novasyon Pazar\u0131 ya da \u0130ngilizce k\u0131sa ad\u0131yla STAR pazar\u0131nda, teknoloji alan\u0131nda ba\u015far\u0131l\u0131 yeni \u015firketler i\u00e7in kolayl\u0131kla ve kan\u0131tlanm\u0131\u015f k\u00e2rl\u0131l\u0131k ko\u015fulu olmaks\u0131z\u0131n hisselerinin arz\u0131n\u0131 ger\u00e7ekle\u015ftirme olana\u011f\u0131 sa\u011fland\u0131. ABD\u2019de Trump y\u00f6netimi ile ba\u015flay\u0131p s\u00fcren \u00c7inli \u015firketlere kar\u015f\u0131 olumsuz tav\u0131r ve bunlar\u0131n ABD pazarlar\u0131ndan finansman sa\u011flamas\u0131n\u0131n zorla\u015ft\u0131r\u0131lmas\u0131 y\u00f6n\u00fcndeki geli\u015fmelerin de etkisiyle yeni pazara talep g\u00fc\u00e7l\u00fc oldu; 2021 ortalar\u0131nda pazarda i\u015flem g\u00f6ren \u015firket say\u0131s\u0131 300\u2019\u00fcn \u00fczerindeydi. Bununla beraber yeni pazar, yeni teknoloji \u015firketlerinin hayat\u0131n\u0131 kolayla\u015ft\u0131rmakla sa\u011fl\u0131ks\u0131z \u015firketlerin pazara girmesi riskini kontrol etme aras\u0131ndaki dengeyi bulma s\u00fcrecinde bulunuyor.<\/span><br><span class=\"large\"><\/span><br><span class=\"large\"> Ge\u00e7ti\u011fimiz ay \u00c7in\u2019in iki borsas\u0131na bir de Beijing Hisse Senedi Borsas\u0131 eklendi. Bu da a\u011f\u0131rl\u0131kl\u0131 olarak yeni geli\u015fen teknoloji \u015firketlerine y\u00f6nelik bir borsa olarak konumlanm\u0131\u015f bulunuyor. \u00c7in Kom\u00fcnist Partisi, ikilemini teknolojiyi destekleme y\u00f6n\u00fcnde k\u0131r\u0131yor g\u00f6r\u00fcn\u00fcyor.<\/span><\/p>  \t\t\t\t","slug":"cin-komunist-partisinin-halka-arz-ikilemi","orjinalimage":null,"news_cover_min":null,"news_cover":null,"news_video_min":null,"news_video":null,"cropped_638x552":null,"cropped_310x208":null,"cropped_416x247":null,"cropped_197x247":null,"cropped_416x600":null,"cropped_1200x675":null,"tags":"K\u00f6\u015fe Yaz\u0131s\u0131","meta_title":"\u00c7in Kom\u00fcnist Partisi\u2019nin halka arz ikilemi","meta_description":"FAT\u0130H OKTAY","meta_keywords":"K\u00f6\u015fe Yaz\u0131s\u0131","view_count":1111,"yt":0,"ytid":"","ytimage":null,"imgdate":"2000-01-01 00:00:00","cuff_cover":null,"cropped_358x214":null,"cropped_842x474":null}]}}