On Tuesday, May 21st, the main contents of today’s headlines are as follows:
Media name front page headlines
China Securities Journal, the central bank and the CSRC will continue to promote the interconnection of the bond market, and the cross market bond index public fund will come out
Shanghai Securities News has good toughness, full potential and strong vitality. Read the general trend of China’s economy
Securities Times strengthens food safety work to ensure “safety on the tip of the tongue”
Securities Daily China Banking and Insurance Regulatory Commission agreed to transfer The People’S Insurance Company (Group) Of China Limited(601319) nearly 3 billion shares to the social security fund
The 21st Century Business Herald expanded the supervision of the bank’s foreign exchange settlement and sales deficit in April, emphasizing the maintenance of exchange rate stability
Economic information daily financial risk prevention overweight, a number of regulatory regulations are brewing
Opinions of the CPC Central Committee and the State Council on deepening reform and strengthening food safety work
China Securities Journal ( zone )
the central bank and the CSRC continue to promote the interconnection of the bond market, and the cross market bond index public fund will come out
On May 20, the central bank’s website and the CSRC’s website announced that recently, the people’s Bank of China and the CSRC jointly issued the notice on doing a good job in the innovation pilot work of open-end bond index securities investment fund, which plans to launch a bond index public offering fund with cross market bond varieties as the investment target and can be listed on the exchange or transferred through agreement in the inter-bank market. After the issuance of the notice, the CSRC will promote the registration and examination of the pilot bond index fund.
comment on the front page of China Securities News: counter cyclical adjustment of material development force, RMB will not depreciate disorderly
The China Securities Journal article said that the RMB exchange rate against the US dollar is approaching a key psychological position. In the short term, there are certain Pro cyclical fluctuations in the foreign exchange market, and there is a risk of overshoot in the short-term exchange rate. It is necessary and reasonable to carry out counter cyclical adjustment and give full play to the role of macro Prudential policy. In the long run, there is no basis for substantial devaluation of the RMB, and it is less likely that short-term fluctuations will evolve into disorderly devaluation.
some science and innovation boards accept a large proportion of enterprise fund-raising
As of May 20, the Shanghai Stock Exchange has accepted the listing applications of 110 enterprises on the science and innovation board, with a total proposed financing amount of nearly 108 billion yuan. According to the statistics of China Securities Journal, there are 13 enterprises whose supplementary working capital / working capital accounts for 30% or more of the total proposed fund-raising; In addition, 16 enterprises have made it clear that the funds directly used for R & D centers / technology centers account for more than 30% of the total proposed fund-raising.
weaken the P / E ratio, and the valuation model of the scientific innovation board is becoming clearer
China Securities News reporter learned from securities companies, public offerings, venture capital and other people that the industry’s consensus on the valuation of the science and innovation board has initially taken shape: weakening the P / E ratio; On the basis of grasping the characteristics of the industry, comprehensively investigate the texture and development prospect of the enterprise. Relevant people remind that enterprises should not issue cluster scientific and technological innovation boards for the pursuit of high prices.
Shanghai Securities News (special area)
good toughness, sufficient potential and strong vitality. Read the general trend of China’s economy
In April, some economic indicators fluctuated in the short term, but in the medium and long term, the good state of good economic toughness, sufficient potential and strong vitality has not changed. This is the general trend of China’s economy.
Shenzhen Chipscreen Biosciences Co.Ltd(688321) the actual controller of the “three tests” was identified as the focus
From “41 questions” to “14 questions” and then to “3 questions”, with the successive simplification of the “test questions” of the three rounds of questions, Shenzhen Chipscreen Biosciences Co.Ltd(688321) is one step closer to the “door-to-door” of the science and innovation board. On the evening of May 20, the Shanghai Stock Exchange disclosed Shenzhen Chipscreen Biosciences Co.Ltd(688321) the third inquiry and reply, becoming the first “candidate” to reply to the “three questions” among the 110 science and innovation enterprises accepted so far.
Yang Dehong, chairman of Guotai Junan Securities Co.Ltd(601211) : let the capital market and excellent enterprises achieve each other
Facing the major reform measures of the capital market focusing on the establishment of the science and innovation board and the pilot registration system, Guotai Junan Securities Co.Ltd(601211) Chairman Yang Dehong used “mutual achievements” to describe the symbiotic and win-win relationship between the science and innovation board and the real economy. “The core of the registration system is to let the market play a decisive role. I believe the market can make the best choice and find the best enterprises.”
the non-standard of Tianbao food’s annual report was asked: does the association “avoid the important and take the light”
Tianbao food, with many problems and hidden dangers, was hit to the limit by a large number of sales orders after its opening on May 20. After several shocks, it closed down by 9.71%, reflecting investors’ optimism about the company’s prospects. The debt was massively overdue, the bank account was frozen, the illegal guarantee alarm was not lifted, and the shareholding of major shareholders was waiting to be frozen. When the outside world estimated when Tianbao food could “make the most of the bad”, the latest annual report inquiry letter issued by Shenzhen Stock Exchange to Tianbao food further found out the deep-seated problems or risks of the company.
Securities Times (special area)
strengthen food safety to ensure “safety on the tip of the tongue”
The CPC Central Committee and the State Council recently issued the opinions on deepening reform and strengthening food safety. The opinions pointed out that food safety is related to the health and life safety of the people and the future of the Chinese nation. The report of the 19th National Congress of the Communist Party of China clearly put forward the implementation of the food safety strategy to let the people eat at ease. This is a major deployment made by the CPC Central Committee for food safety with the overall cause of the party and the state in mind. It is a major task to win a decisive victory in building a well-off society in an all-round way and building a modern socialist country in an all-round way.
at the beginning, Hong Kong stocks collapsed: arbitrage looting “there is a routine”
The website of the Hong Kong Securities Regulatory Commission regularly publishes a list of highly concentrated shares. According to the statistics of the reporter of the securities times, since July 8, 2009, the Hong Kong Securities Regulatory Commission has issued a total of 163 highly concentrated stocks, many of which have collapsed, which needs attention.
comment on the front page of the Securities Times: how to treat the abnormal high financial equity in the A-share market
In recent years, the imbalance between the development of financial industry and non-financial industry has been criticized repeatedly. Some people even regard the high proportion of bank market value and profits in the A-share market as evidence that the financial industry “sucks blood” from entities. Recently, Professor Liu Shuwei of the Central University of Finance and economics issued a document saying that 13 of the top 20 enterprises in the A-share market are financial enterprises. Therefore, economic development lacks stamina, and the market value structure of A-shares must be changed.
st Xinguang used to “fly chicken feathers into the sky”. Now chicken feathers are inquired
St Xinguang (002147) crisis occurred everywhere, and the inquiry letter of Shenzhen Stock Exchange arrived as scheduled. On May 20, Shenzhen Stock Exchange issued an inquiry letter to st Xinguang’s 2018 annual report, focusing on its performance loss conversion, illegal guarantee and other issues.
Securities Daily (special area)
the CBRC agreed to transfer nearly 3 billion shares of The People’S Insurance Company (Group) Of China Limited(601319) to the social security fund
On May 20, the China Banking and Insurance Regulatory Commission announced that after examination, it agreed to transfer The People’S Insurance Company (Group) Of China Limited(601319) 29896 million shares held by the Ministry of finance to the National Council of social security funds, requiring The People’S Insurance Company (Group) Of China Limited(601319) to go through the change procedures in accordance with relevant regulations.
219 non-standard audit opinions “confession” financial report part “abnormal physical examination” hidden violation logic
Statistics show that among the more than 3600 enterprises that published the 2018 annual report, 219 issued non-standard audit opinions, which should also reach a new peak in recent years. Among them, 39 audit opinions were “unable to express opinions”, 81 were issued with “qualified opinions”, and 99 were “unqualified opinions with emphasized items”. However, there were only 123 non-standard opinions in 2017 and 99 in 2016. According to other statistics, from 2012 to 2015, there were 88, 81, 85 and 99 annual reports issued with non-standard audit opinions respectively. In addition, the increase of “unable to express opinions” audit opinions is the most obvious in recent years – it has increased from 3 in 2012 to 39 in 2018.
Shenzhen Chipscreen Biosciences Co.Ltd(688321) “flash answer” the third round of inquiry on the science and Innovation Board of Shanghai Stock Exchange focused on “actual controller, risk and letter Phi”
On the evening of May 20, the official website of the Shanghai Stock Exchange disclosed that Shenzhen Chipscreen Biosciences Co.Ltd(688321) has been the first to reply to the third round of inquiries of the Shanghai Stock Exchange. The reporter of Securities Daily noted that there were only three questions asked by the Shanghai Stock Exchange, including the identification of actual controllers and risk factors. The reporter of Securities Daily noted that the three questions guide the reporting enterprises to make objective and clear disclosure, delete subjective description and redundant content, and focus on quantitative analysis and refined disclosure.
the Ministry of housing and urban rural development issued two house price early warning experts within one month, saying that the implementation of regulatory policies due to the city is not due to the relaxation of the city
The Ministry of housing and urban rural development gave early warning tips to six cities on April 19. On May 18, it gave early warning tips to four cities, including Foshan, Suzhou, Dalian and Nanning, where the price index of new commercial houses and second-hand houses increased significantly in recent three months.
21st Century Business Herald
in April, the bank expanded the supervision of the foreign exchange settlement and sales deficit, emphasizing the maintenance of exchange rate stability
On May 20, the State Administration of Foreign Exchange announced the data of bank settlement and sales of foreign exchange and foreign-related collection and payment of bank agents in April 2019. Among them, the deficit of settlement and sales of foreign exchange was US $11 billion, a slight increase compared with the deficit of US $6.1 billion in March. The bank’s foreign exchange settlement and sales on behalf of customers had a deficit of US $7.9 billion, an increase of US $5.4 billion over March. This shows that the current foreign trade situation is still not optimistic, but the influence of cross-border capital flows under capital channels is gradually expanding. Regulators have the ability to maintain the stable operation of China’s foreign exchange market and maintain the basic stability of the RMB exchange rate at a reasonable and balanced level.
the shock mode of A-Shares may continue: 100 billion contraction adjustment institutions are busy defending more than 4 billion funds to copy the bottom through ETF
In these two trading days alone, more than 4 billion funds copied the bottom of A-Shares through ETF. The industry believes that most of these funds are insurance funds and retail funds. At the same time, there was a net outflow of more than 2 billion yuan from the north again. Accordingly, the net outflow of northward funds from A-Shares in the last three trading days reached the level of 10 billion.
economic reference daily
a number of regulatory regulations on financial risk prevention are brewing
Recently, many central departments have made intensive planning for financial risk prevention and control, finalized key regulatory areas and planned the next policy measures. According to the policy signals disclosed at present, in order to prevent financial risks, a series of regulations such as the regulations on the disposal of illegal fund-raising, the regulations on non deposit lending organizations and the Interim Regulations on the management of private investment funds are expected to be implemented in 2019, of which the regulations on the disposal of illegal fund-raising will be promulgated and implemented as soon as possible.
the central government issued a document to ensure “safety on the tip of the tongue” and promote the “direct punishment” of counterfeiting and selling activities endangering food safety
The CPC Central Committee and the State Council recently issued opinions on deepening reform and strengthening food safety. The opinions emphasize that the food safety work should be further strengthened with the most rigorous standards, the most stringent supervision, the most severe punishment and the most serious accountability to ensure the “safety on the tip of the tongue” of the people.
people’s daily
opinions of the CPC Central Committee and the State Council on deepening reform and strengthening food safety
Food safety is related to the health and life safety of the people and the future of the Chinese nation. The report of the 19th National Congress of the Communist Party of China clearly put forward the implementation of the food safety strategy to let the people eat at ease. This is a major deployment made by the CPC Central Committee for food safety with the overall cause of the party and the state in mind. It is a major task to win a decisive victory in building a well-off society in an all-round way and building a modern socialist country in an all-round way. The following opinions are put forward on deepening reform and strengthening food safety.
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( East Money Information Co.Ltd(300059) Securities Research Institute)
