A selection of financial news
Li Keqiang: continue to build the world's big market, foreign investment in the hot spot
Premier Li Keqiang attended the China Council for the Promotion of International Trade in the Diaoyutai Fanghuayuan the evening of May 19 to attend the symposium on the 70th anniversary of the founding of the Council. The National Committee for U.S.-China Trade, the British 48 Group Club, the Korea Trade-Investment Promotion Agency, the Malaysia-China Business Council, the European Union Chamber of Commerce in China, the China-Japan Chamber of Commerce, the American Chamber of Commerce in China and other nearly 30 organizations and multinational corporations in charge of the attendance. The symposium was held in a combination of online and offline.
Source: xinhua.com
Chinese Office and State Council Office issued "Opinions on Advancing the Implementation of the National Cultural Digitization Strategy"
Chinese **** Central Office and State Council Office issued "Opinions on Advancing the Implementation of the National Cultural Digitization Strategy" (hereinafter referred to as the "Opinions"), and issued a circular, requiring each regions and departments to conscientiously implement it in light of the actual situation.
The Opinions make it clear that by the end of the "14th Five-Year Plan" period, the basic cultural digitization infrastructure and service platform will have been built, and the online and offline integration and interaction and three-dimensional coverage of the cultural service supply system will have been formed. By 2035, a physically distributed, logically linked, fast linking, efficient searching, comprehensive **** enjoyment, key integration of the national cultural big data system, Chinese culture panoramic presentation, Chinese culture digitization results for all **** enjoyment.
Source: Xinhua News Agency
Central finance issued funds of 10 billion yuan again to the actual grain farmers issued a one-time agricultural subsidies
Recently, according to the CPC Central Committee, the State Council decision-making and deployment of the overall consideration of the market price trend of agricultural materials and the situation of agricultural production, the central finance issued funds of 10 billion yuan, once again to the The actual grain farmers to issue a one-time agricultural subsidies to support the summer harvest and autumn sowing production, to alleviate the impact of rising prices of agricultural materials brought about by the increase in expenditure on grain, and to further mobilize the enthusiasm of farmers to grow grain.
Source: CCTV News Client
Foreign Exchange Bureau issued a further promotion of the foreign exchange market to serve the real economy of the relevant measures
Foreign Exchange Bureau issued a further promotion of the foreign exchange market to serve the real economy of the relevant measures of the notice. The notice requires that customers be guided to establish a risk-neutral concept. Support enterprises to manage exchange rate risks, taking into account the product type, customer classification and hedging demand characteristics, for customers to deal with their risk-bearing capacity and hedging demand consistent with the foreign exchange derivatives business, to reduce the production and operation of uncertainty. We will guide our clients to follow the principle of exchange rate risk management centered on "value preservation" rather than "value appreciation", and to focus on their main business, hedging and risk avoidance.
Source: State Administration of Foreign Exchange (SAFE)
SFC weighs in! 23 policies to bail out companies in epidemic-affected industries
SFC issued a notice on May 20 on "further exerting the function of the capital market to support the accelerated resumption of development of the regions and industries seriously affected by the epidemic," which will support the development of the industry by increasing direct financing. The Commission issued the "Notice on Further Functioning of Capital Market to Support the Accelerated Recovery and Development of Areas and Industries Affected by the Epidemic" on May 20 to increase policy support for direct financing by strengthening direct financing support, implementing the policy of extension and rollover, optimizing supervisory work arrangements, and playing the role of industry institutions.
Source: Securities Times
SFC issued the Measures for the Supervision and Administration of Publicly Offered Securities Investment Fund Managers and its Supporting Rules
To accelerate the high-quality development of the public fund industry, and to further improve the public fund industry's ability to serve the reform and development of the capital market, the management of the residents' wealth, the real economy and national strategies, and to promote the development of public funds, it is important to promote the development of the public fund industry. In order to accelerate the high-quality development of the public fund industry, further improve the ability of the public fund industry to serve the reform and development of the capital market, serve the residents' wealth management, serve the real economy and the national strategy, promote the construction of a diversified and open industry ecology with sufficient competition, superiority, inferiority, and orderly advancement and retirement, and effectively protect the legitimate rights and interests of the fund shareholders, the Securities and Exchange Commission (SEC) has revised the "Measures for the Administration of Securities Investment Fund Management Companies" and renamed them as the "Supervisory and Administration of Publicly Offered Securities Investment Fund Managers" (hereinafter referred to as the "Measures for the Administrator"). Recently, the Securities and Futures Commission (SFC) officially released the Measures for Administrators and its supporting rules.
Source: SFC website
(Investment adviser? Cai Jin? Registered investment adviser certificate number: S0260611090020)
Two, the market hot spot focus
Market review: the three indexes volume upward, the rebound is expected to continue
Friday the two markets index oscillation upward, the market total turnover The amount of money compared to the previous trading day has been enlarged. Specifically, the Shanghai index closed up 1.60% on the Shanghai Stock Exchange, closing at 3146.57 points; the Shenzhen Composite Index rose 1.82%, closing at 11454.53 points; GEM rose 1.69%, closing at 2417.35 points.
On the disk, coal stocks, non-ferrous metal stocks and brewing plate performance is strong, the top gainers, real estate plate performance is relatively weak. From the trend, the recent A-share market independent of the external market, the three major indexes volume upward, the rebound market is expected to continue, but the current market is temporarily only seen as a rebound, is not the beginning of a new round of index market, if the market continuous upward to be cautious.
Operationally, the short-term theme of the general performance of stocks, the track direction of individual stocks in recent trading days relatively strong performance, continuity is expected to continue. It is recommended to pay attention to automobiles, lithium ore, chips, photovoltaic, wind power equipment, brokerage and banks and other high-quality leading enterprises and performance to good stocks.
(Investment adviser? Yu Dechao? Registered Investment Adviser Certificate No.: S0260613080021)
Macro Viewpoint: CBIRC: will work with relevant departments to implement support policies to encourage small and medium-sized banks to merge and reorganize
The person in charge of the relevant departments of the CBIRC said at the CBIRC briefing on May 20 that, as a next step, the CBIRC will continue to In accordance with the basic policy of stabilizing the overall situation, coordinating, classifying and dismantling the bomb, in-depth promotion of rural small and medium-sized banks to reform the risk, and continue to enhance the ability to serve the real economy.
The person in charge of the relevant departments of the CBIRC specifically disclosed that, according to the requirements of the Central Document No. 1, the CBIRC guides the relevant provinces to accelerate the process of rural credit reform, transform the functional position of the provincial federation, establish a positive list and a negative list of the performance of the provincial institutions of rural credit unions, and improve the supervision and constraints of the mechanism; to strengthen the organic integration of the party's leadership with the company's governance, and to rationally set up the " Three Councils and One Layer" and professional committees, and build a simple and practical corporate governance mechanism in line with the actual situation of small legal persons; strictly restrain the behavior of major shareholders, strengthen the management of related transactions, and prevent them from unduly interfering in the internal operation and management of the institution; strengthen the construction of the senior management team, guide the use of the senior management talent pool set up by the Banking Association, and support the selection and recruitment of senior management personnel in a market-oriented manner in an open and transparent manner, so as to build a politically strong and business-competent senior officer team. politically strong and business savvy senior officer team.
"Encourage high-quality banks, insurance companies and other eligible institutions to participate in mergers and acquisitions and restructuring of small and medium-sized rural banks, implement support policies to encourage mergers and restructuring of small and medium-sized banks in conjunction with the relevant departments, and promote mergers and restructuring and regional consolidation of small and medium-sized rural banks in accordance with the principles of marketization and legalization." The head of the relevant department of the CBRC said.
Source: Shanghai Securities News
Comment: mergers and acquisitions and reorganization theme can improve the valuation of bank stocks, is expected to short-term to the small and medium-capitalization bank stocks to bring the opportunity for active performance.
(Investment adviser? Cai Jin? Registered Investment Adviser Certificate No.: S0260611090020)
Automotive industry: the resumption of production continues to promote the car market to the good
According to Xinhua News Agency, on May 15, loaded with more than 4,000 Tesla electric cars of the automobile ro-ro ship departed from the Shanghai Nangang Terminal, headed to Belgium, which is the first time that the Tesla Shanghai Super Factory resumed production. the second batch of whole shipment of electric cars exported after Tesla's Shanghai Super Factory resumed work and production. According to Xinhua News Agency, SAIC introduced that it is expected that the rate of resumption of work and production will exceed 80% from late May onwards for the parts and components supporting enterprises that have entered the "white list" of the first two batches of resumption of work and production in Shanghai. SAIC's vehicle enterprises are expected to gradually resume normal production in late May, and strive to May production and sales reached the same level in 2021.
Source: Open Source Securities Research Report
Comment: As the impact of the epidemic gradually weakened, the automotive industry chain resumption of production in progress. Electrification, intelligent acceleration, the automotive industry ushered in a long-term upward cycle, the plate also experienced a long period of retracement, the current valuation also has a strong attraction, it is recommended to pay attention to.
(Investment Advisor Yu Dechao Registered Investment Advisor Certificate No.: S0260613080021)
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