The CSRC introduced a series of new regulations in order to address the issues of high price and high price-earnings ratio of IPO, but so far none of it is effective. ANBOUND research team thinks that financial regulators should ensure the market is "fair, impartial and open" besides control systemic risks. Any price intervention by the regulators will lead to alternative rebound. Thus, the regulators should not merely focus on the two “high” problems. It is more important for them to respect the principles of marketization and sort out the market mechanism.