On Monday, November 22nd, the main contents of today’s headlines are:

China Securities Journal

The exchange rate is flexible enough and RMB assets are attractive

The dollar index rose 1% in the past week to 96, a 16 month high. Taking advantage of the interest rate increase expectation, the recent “US dollar storm” has sprung up, which is not a US currency, but the RMB exchange rate remains stable and once again shows full resilience. Analysts pointed out that China’s foreign trade, currency and economic and financial “chassis” are stable, so the exchange rate is also stable, which has become a solid foundation for RMB assets to attract global investors.

The inflection point of global liquidity is approaching, and emerging economies are facing “physical examination”

As an important indicator of global liquidity and risk appetite, the US dollar index recently hit a 16 month high and closed above 96 on November 19. Experts believe that when major overseas central banks gradually start the process of easing policy decline, the inflection point of global liquidity is approaching. The possibility of capital flowing back to developed economies is increasing, and emerging economies may face capital outflow shocks to varying degrees. Those emerging economies with strong epidemic control ability, good economic fundamentals and moderate leverage and foreign debt will maintain better economic performance.

The rising trend of high prosperity track continues the value, and the recovery of blue chip can be expected

The structural differentiation of the A-share market continued. Last Friday, the main A-share indexes rose, securities companies, real estate and other sectors rebounded strongly, and the rise of fuel cells, wind power and other high boom tracks continued. In the view of brokerage institutions, the continuous admission of incremental funds will drive the gradual increase of stock funds, and the main line of blue chip will be clearer. The financial and real estate sector is expected to become a pioneer in the cross-year market. Undervalued varieties and high boom tracks are the main line of the cross-year market, and the directions of household appliances, food and medicine are optimistic.

“Smart money” continued net inflow, and the structural market was concerned

Last week, the A-share market fluctuated higher, and the performance of the three major indexes was differentiated. The Shanghai Composite Index and Shenzhen Composite Index rose by 0.60% and 0.32% respectively, and the gem index fell by 0.33%. In the case of market shock, choice data show that last week, the cumulative net inflow of northward funds was 11.184 billion yuan, of which the net inflow of Shanghai Stock connect funds was 46 million yuan and the net inflow of Shenzhen Stock connect funds was 11.137 billion yuan. The characteristics of northward funds significantly flowing into Shenzhen market are more obvious. Last week, the number of shares held by northbound funds in 749 stocks increased, of which the amount of position increase for Contemporary Amperex Technology Co.Limited(300750) was the largest, reaching 2.626 billion yuan. Analysts said that at the current time point, they are relatively optimistic about the A-share market. Under the expectation of upward liquidity margin, we are optimistic about the structural market of growth style. At the same time, the cross year market is expected to start.

Shanghai Securities News

The demand for directors’ liability insurance surged, and the insurance enthusiasm of listed companies was high

The independent directors of Kangmei pharmaceutical, who have been severely punished for joint and several liability, have dominated the screen these days. A number of independent directors of listed companies “quickly” resigned and went on a hot search, together with the insurance market. Many more listed companies called to consult “Dong liability insurance”.

When traditional business is cold, standard trust drives into the “fast lane” of development

Since this year, the trust standard business has developed rapidly. Data show that the number of fof / TOF products issued in the trust industry in the first 10 months of this year increased by more than 50% compared with last year. Insiders said that this year, the supervision has been increasing, the volatility of the A-share market has intensified, and fof products characterized by decentralized investment and stable income have attracted much attention. Subsequently, with the acceleration of industry transformation, the trust standard business will drive into the “fast lane” of development.

Lack of core mitigation superposition intelligent wave mechanism layout auto parts plate

Over the past few months, the market has tended to fluctuate. Towards the end of the year, institutions began to layout for the coming year. From what the reporter learned, the auto sector affected by the chip shortage in the early stage began to attract the attention of investors with the alleviation of the chip shortage and the promotion of the wave of automotive intelligence. Some institutions have recently increased their positions in the auto parts sector.

New fund issuance ahead of “winter” fund company layout next year

After the number and scale of new funds hit a new low in October, the fund issuance market still did not improve significantly in November. Statistics show that as of November 19, only 22 new funds had been issued and established during the month, down sharply from 109 in October, 131 in September and 181 in August; Since November, the total issued shares have been only 31.452 billion, in sharp contrast to 140.182 billion in October, 171.132 billion in September and 241.845 billion in August.

securities times

Chinese independent directors stand up for you

In the class action case of false statement liability dispute of Kangmei pharmaceutical, five independent directors assumed hundreds of millions of yuan of joint and several liability, which caused a great shock. Superimposed on the recent increase in resignation announcements of independent directors, it further aroused the concern of the so-called “escape of independent directors”. Obviously, how to improve the independent director system has been put on the agenda of the capital market.

CMF forecasts China’s annual economic growth of 8.1%

On November 21, the China macroeconomic Forum (CMF) released the annual analysis and forecast report on China’s macro economy entitled “China’s macro-economic recovery under the impact of repeated epidemic and structural adjustment”. The research group believes that China’s macro-economy will continue to recover in 2021, but affected by the base factor and the slowdown of recovery momentum in the second half of the year, the trend from high to low is obvious. It is expected that the real GDP will grow by 3.9% in the fourth quarter and 8.1% in the whole year, realizing the growth target of more than 6% in the whole year.

New and old players are busy expanding production, and the price war of silicon track may attack next year

The silicon wafer duopoly pattern led by Longi Green Energy Technology Co.Ltd(601012) , Tianjin Zhonghuan Semiconductor Co.Ltd(002129) is being challenged step by step. Recently, Shuangliang Eco-Energy Systems Co.Ltd(600481) has signed a total of 28.7 billion yuan of silicon material long order and 29.3 billion yuan of silicon wafer long order, which ensures the promotion of silicon wafer business from both upstream and downstream aspects. Analysts told reporters that if the silicon wafer industry really enters a price war, backward production capacity and high-cost production capacity will be cleared quickly.

Northbound funds favor the computer industry and buy 17 shares for seven consecutive weeks

According to the statistics of securities times · databao, the cumulative transaction amount of Beishang capital last week was 491.276 billion yuan, with a net purchase of 11.184 billion yuan, of which the total net purchase of Shanghai Stock connect was 46 million yuan and the net purchase of Shenzhen Stock connect was 11.137 billion yuan.

Securities Daily

China Europe train runs out of “acceleration” to expand “circle of friends” and alleviate the pressure of shipping

From less than 20 trains in the first year to 12400 in 2020 and 12605 in the first 10 months of 2021, the number of China Europe trains has accelerated, and the route layout has also accelerated. Since September, sea freight prices have continued to rise, and more and more traders have transferred their import and export sources to China Europe trains.

SASAC: strictly limit the financing guarantee object and scale of central enterprises, and build a firewall for industrial and financial business

Recently, the SASAC of the State Council issued the notice on strengthening the management of financing guarantee of central enterprises (hereinafter referred to as the notice), emphasizing the need to strictly limit the object of financing guarantee and control the scale of financing guarantee. In particular, central enterprises shall strictly prohibit providing any form of guarantee to enterprises without equity relationship outside the group.

Sponsors should not only “guarantee” but also “recommend”

Under the registration system, higher requirements are put forward for the professional ability and practice quality of sponsors’ due diligence. Recently, the CSRC announced that it plans to revise the guidelines for due diligence of sponsors, one of which is to raise the responsibility of “recommendation” of sponsors to a more important position and give full play to its forward-looking role in judging investment value.

During the year, more than 1000 person times of the institution investigated and the bank’s housing related loans were concerned

As an important way to understand listed companies from a zero distance, research on listed companies has always been one of the important means relied on by research institutions. According to the statistics of East Money Information Co.Ltd(300059) choice by the reporter of Securities Daily, listed banks have been investigated by institutions about 169 times this year. Since most of the investigations are conducted by peers of multiple institutions, the actual number of investigations received by listed banks should be much higher than 1800. Among them, Jiangsu Changshu Rural Commercial Bank Co.Ltd(601128) has received 275 institutional research for 55 times this year.

people’s daily

In recent 10 years, there has been a net increase of 100 million households, and the total number of market players in China has exceeded 150 million

According to the latest data, as of November 1, the total number of market players in China exceeded 150 million, with a net increase of 100 million in the past 10 years. The majestic force of hundreds of millions of market players has promoted the steady growth of China’s total economy, national financial resources and social wealth, and carried the basic employment of more than 700 million people.

China business daily

The Christmas gift has finally arrived! Toy charter flights from China to the United States

“Black Friday” and Christmas shopping season are close at hand. What if American merchants don’t have enough goods? Ample food and clothing by working with our own hands. In the past month and a half, ty, the manufacturer of Beanie Babies, which has been popular in North America for many years, has chartered more than 150 flights between China and the United States to bring plush toys to the United States, successfully bypassing the century congestion of American ports.

In November, the inter-bank bond issuance of real estate enterprises reached nearly 30 billion, and the housing related financing recovered, but the differentiation intensified

In the view of insiders, recently, the regulatory authorities have repeatedly mentioned promoting the stable and healthy development of the real estate industry, and the wind direction at the policy end has eased, so as to actively reshape market confidence and maintain the stability of real estate. Based on this, a variety of market financing channels are expected to “unseal”. However, there are also views that due to the bottomless fermentation of liquidity problems of real estate enterprises, the marginal relaxation of the policy will not be too large. Real estate enterprises still face layers of restrictions. At present, the breaking of the financing port is more for enterprises with good operation and high-quality assets.

economic reference daily

At the end of the year, ministries and commissions intensively studied and judged the economic situation and released policy signals

By the end of the year, the State Council and several ministries and commissions had intensively studied and judged the economic situation and released important policy signals. The Symposium of economic situation experts and entrepreneurs of the State Council made it clear that we should continue to do a good job in the prevention and control of the normalized epidemic situation, strengthen the “six stabilities” and “six guarantees”, especially the main body of the market to ensure employment and people’s livelihood, enhance the forward-looking pertinence of macro policies, promote reform and opening-up, do a good job in cross cycle regulation, promote the economic climbing over barriers, and maintain the economic operation within a reasonable range and the overall stability of employment.

The construction of “5g + industrial Internet” has been strengthened, and the industrialization and large-scale application have been continuously promoted

The 2021 China 5g + industrial Internet Conference opened in Wuhan, Hubei Province on November 20. The reporter of economic information daily learned from the meeting that at present, “5g + industrial Internet” takes the lead in rapid promotion in ten key industries such as mining, steel and electric power, and speed up the integration of applications. Multiple favorable policies will be further released to promote the industrialized and large-scale application of “5g + industrial Internet”, including accelerating the construction of 5g base stations and the large-scale development of industrial virtual private networks, and promoting the industrial Internet platform into parks and industrial clusters. At the same time, it will accelerate the rapid R & D and industrialization of industrial modules, key software and other fields, explore the construction of data trading platform, and further improve the level of data management, development and utilization.