在2007年和2015年的两轮行情中，信用卡资金进入股市的情况并不算严重。当时金融科技远不如今日发 达，但随着技术和普惠金融的进步，个人投资者通过信用卡或银行秒批贷款获得资金变得非常容易，客 观上也为违规资金进入股市提供了便利。 同时也要看到，普通投资群体往往缺乏足够风险意识。一旦抱着"借点钱进股市，赚了就还"的侥幸心 理，极易陷入高杠杆的陷阱。因此，防范信用卡资金违规入市，本质上是对个人财务安全与资本市场稳 定之间的双重保护。 投资者应当知晓的是，信用卡套现的年化成本并不低，普遍超过18%，不但远高于普通贷款，也远高于 券商融资融券利率。更值得警惕的是，信用卡的便利可能诱发羊群效应。当大量散户以高成本资金涌入 股市，行情将被短期情绪推高，却埋下崩盘风险。 回顾历史，银行资金违规入市带来的教训不胜枚举。2015年场外配资更是典型：银行、信托、互联网平 台资金绕道入市，推高杠杆，最终在监管清理与资金踩踏中迅速崩盘，投资者巨亏，市场剧烈震荡。 银行资金一旦放任入市，很容易形成"短期冲动+高杠杆+顺周期放大"的风险模式。信用卡资金违规炒 股虽然规模较小，但逻辑相同。银行此次收紧，正是基于历史教训的前瞻防范。 ▲银行 ...

《 人民日报 》（ 2025年08月03日 02 版） 2024年12月27日，税务总局会同财政部、中国证监会制发公告，规定纳税地点为上市公司所在地，固化 税款入库地点。公告实施半年来，招商引资地区因"无税可返"，无法通过奖补开展不当竞争。而限售股 转让中所涉及的个人所得税地方留成部分，从原来被返还给个人转换为地方真正可支配财力。 国家税务总局所得税司有关负责人表示，调整限售股转让个人所得税纳税地点，对保障地方财力、促进 资本市场健康发展、加快建设全国统一大市场等具有积极意义。 本报北京8月2日电 （记者王观）记者从国家税务总局获悉：今年上半年，发生涉税业务的3500余家证 券机构累计代扣代缴申报个人所得税超百亿元，税款均已入库至上市公司所在地，有效防止税源的不合 理跨区域转移。 过去，个人转让上市公司限售股时，纳税地点为证券机构所在地。但上市公司股东可通过转移证券账户 变换纳税地点，享受部分地方为"争夺"税源违规实施的奖补。 (责编：胡永秋、杨光宇) 关注公众号：人民网财经 ...

Core Viewpoint - The article emphasizes the need for private enterprises, especially family-owned businesses, to reform their ownership structures to enhance corporate governance and mitigate risks to the capital market [1][2][3] Group 1: Corporate Governance Issues - The "one-share dominance" ownership structure prevalent in private enterprises hinders the improvement of corporate governance, leading to absolute control by major shareholders and a lack of checks and balances within the organization [2] - Unlike state-owned enterprises, where a dominant share structure is necessary for state control, private enterprises must adopt a more balanced ownership model to foster better governance [2] Group 2: Capital Market Implications - The current ownership structure of private enterprises poses potential risks to the capital market, as controlling shareholders may treat the stock market as a cash machine, leading to significant market pressure and undermining investor confidence [2] - The article suggests that private enterprises, particularly those planning to go public, should abandon the "one-share dominance" model to protect the health of the capital market and investor interests [2][3] Group 3: Recommendations for IPO-bound Private Enterprises - For private enterprises planning an IPO, it is recommended to reduce the controlling shareholder's stake to below 30% and increase the proportion of circulating shares to at least 50% of the total share capital, which would alleviate the "one-man rule" issue and lay the groundwork for improved governance [3] - Further regulations on major shareholder's selling behavior, such as restricting sales through the secondary market when their stake falls below 20%, could significantly reduce market impact and contribute to the stability of the capital market [3]