On Monday, May 20th, the main contents of today’s headlines are as follows:
Media name front page headlines
China Securities News pan Gongsheng: have the foundation, confidence and ability to maintain the basic stability of the RMB exchange rate
Shanghai Securities News pan Gongsheng: further promote the two-way opening of the financial market and deepen the reform of foreign exchange management
Securities times front page headline of the Securities Times: it is urgent to improve the cost of violations of laws and regulations
Securities Daily China has the ability to maintain the stable operation of China’s foreign exchange market
The positive signal of the APEC trade ministers’ meeting of the first financial daily is that a comprehensive joint statement will be issued four years later
Eight key points of economic reference daily delineate cost reduction and start busy construction season
People’s Daily has high travel enthusiasm and sufficient consumption power (there are many bright spots in economic development and sufficient toughness)
China Securities Journal ( zone )
pan Gongsheng: have the foundation, confidence and ability to keep the RMB exchange rate basically stable
Pan Gongsheng, vice president of the people’s Bank of China and director of the State Administration of foreign exchange, said in an interview with the financial times on the 19th that we have the foundation, confidence and ability to maintain the stable operation of China’s foreign exchange market and the basic stability of the RMB exchange rate at a reasonable and balanced level.
many “undead birds” have been strongly “cleared” and “in and out” market ecology is gradually taking shape
Experts believe that recently, regulators have frequently released signals to encourage and support risk companies to clear out backward production capacity and business through market-oriented means, and eliminate “zombie enterprises” and “three noes companies”. At the same time, the exchange resolutely implements the delisting system and realizes “advance and retreat” in accordance with the law, which will resolutely clear out the market of enterprises that disrupt the market order and touch the delisting standards, which means that the “immortal bird” of A-Shares will become a thing of the past.
preparation of bank financial resources and innovation board
The participation of bank financial funds in the innovation of the science and innovation board is progressing steadily. At present, large state-owned banks and large shares are developing rapidly. They have begun to discuss new strategies with public funds and test water related products. However, most joint-stock banks and urban commercial banks stood still and took a cautious wait-and-see attitude. The reporter of China Securities Journal learned that at present, the discussion between banks and public funds on the innovation of the science and innovation board mainly focuses on the trading mechanism, income and innovation strategy. How to balance the risk and income is the focus of the discussion between the two sides.
“transfer team” expands the scientific and technological innovation board, focusing on “counterpart”
As of May 19, the Shanghai Stock Exchange has accepted the listing applications of 110 enterprises on the science and innovation board. Statistics show that among the accepted enterprises, Novoray Corporation(688300) , Linkage Software Co.Ltd(688588) , Zhejiang Hangke Technology Incorporated Company(688006) and other 18 enterprises have A-share listing application records in other sectors. In addition, many new third board companies such as Jiangxi Jdl Environmental Protection Co.Ltd(688057) have “switched to” science and innovation board. Analysts said that in combination with the first and second rounds of inquiries of the Shanghai Stock Exchange on the accepted enterprises and the market’s all-round attention to the accepted enterprises, the situation faced by “switching” enterprises is not easy, but strict.
Shanghai Securities News (special area)
pan Gongsheng: further promote the two-way opening of financial markets and deepen the reform of foreign exchange management
Pan Gongsheng, vice president of the people’s Bank of China and director of the State Administration of foreign exchange, said in an interview with the media on the 19th that the steady operation of China’s economy and finance has provided strong fundamental support for the reasonable and stable foreign exchange market and RMB exchange rate. Since the beginning of this year, China’s foreign exchange market has operated steadily, foreign capital inflows have increased, foreign exchange reserves have increased steadily, and foreign exchange market expectations are generally stable.
Ye Lin: delisting system is more important for the system design of science and innovation board
The regulatory authorities recently sent a signal to the market to explore innovative delisting methods. In addition, this week, the two major exchanges made a decision to terminate the listing of the shares of four companies, including * ST Hairun, * ST Shangpu, * ST Huaze and * ST Zhonghe, in accordance with the law. Ye Lin, director of the Research Center for the rule of law in the business environment of Renmin University of China, said:, He very much recognized the firm attitude of the regulatory authorities towards the delisting of these enterprises. At the same time, he believes that the delisting system is also more important for the system design of the science and innovation board.
Shenzhen Stock Exchange: continuously guide and standardize the education and protection of member investors
In order to implement the relevant requirements of the “May 15 national Investor Protection Publicity Day”, on the afternoon of May 16, Shenzhen stock exchange held a training and exchange meeting on member investor education and protection and a summary of the “Investor Service season”. More than 140 investment education contacts and investment advisory representatives of the business department from 95 member units participated in the activity.
Xu Weihong: create a financial ecology and provide continuous tracking services for the military industry
Xu Weihong, China’s one belt, one road expert, and the global partner of the Ampang think tank, 19, said on the day of the China Industrial Development Association, the nine group and China Huarong co sponsored “military industry economic innovation forum”, the combination of the military industry and finance can achieve the win-win result. Building a financial ecology can provide continuous tracking services for the military industry.
Securities Times (special area)
front page headline of the Securities Times: it is urgent to improve the cost of violations of laws and regulations
The low cost of violating laws and regulations in the capital market has long been criticized. After years of appeals from all parties, the promotion of raising the cost of violations in the capital market is speeding up. Especially since the beginning of this year, from the statement of the highest level at the meeting of the Political Bureau to the continuous voice of the chairman of the CSRC, it has demonstrated the state’s attention to this issue and its determination to make efforts to improve. The capital market ecology is complex, the interests of all parties are tied under the stock pattern, and the reform affects the whole body, which requires top-level design and joint efforts of all parties. Among them, it is an important solution to jointly revise the criminal law, the company law and the securities law and comprehensively improve the legal deterrence.
in May, stock ETFs attracted 16 billion yuan and institutional funds increased rapidly
Since May, the volatility of A-share market has intensified under the influence of external factors. However, the stock ETF, as the wind vane of large institutional funds, received a net inflow of 16 billion yuan. Especially on the day when the stock market fell sharply, entering the market through stock ETF has become an important way for funds to layout the stock market.
central bank: fully capable of maintaining the basic stability of RMB exchange rate
Yesterday, pan Gongsheng, vice governor of the central bank and director of the State Administration of foreign exchange, said in an interview with the media on the current operation of China’s financial and foreign exchange market that this year, China’s foreign exchange market has operated smoothly, foreign capital inflows have increased, foreign exchange reserves have increased steadily, and the foreign exchange market is expected to be generally stable. We have the foundation, confidence and ability to maintain the stable operation of China’s foreign exchange market and the basic stability of the RMB exchange rate at a reasonable and balanced level.
* the actual controller of St Yangfan trend “against the sky” reiterated that there was no major event
On the evening of May 19, * ST Yangfan announced that up to now, Lou Yongliang, the actual controller of the company, has no undisclosed major information, including but not limited to major asset restructuring, share issuance, acquisition of listed companies, debt restructuring, business restructuring, asset stripping and asset injection.
Securities Daily (special area)
China has the ability to maintain the stable operation of China’s foreign exchange market
On May 19, pan Gongsheng, vice president of the people’s Bank of China and director of the State Administration of foreign exchange, said in an interview with the media on the current operation of China’s financial and foreign exchange market that the steady operation of China’s economy and finance has provided strong fundamental support for the reasonable and stable foreign exchange market and RMB exchange rate. Since the beginning of this year, China’s foreign exchange market has operated steadily, foreign capital inflows have increased, foreign exchange reserves have increased steadily, and foreign exchange market expectations are generally stable.
comment on the front page of Securities Daily: you can only press the pause key before violating the rules with fear
“Practice has proved that all acts that oppose market laws and laws and regulations, do not fear risks and damage investors will eventually be punished by the market and law and pay a heavy price.” On May 11, Yi Huiman, chairman of CSRC, said at the 2019 annual meeting of China Association of listed companies. Both listed companies and intermediaries in the market should always be in awe. Only in awe of the market and investors can they press the “pause button” in time when there are signs of violations of laws and regulations.
the “painting style” of the second round of inquiry on the science and Innovation Board of Shanghai Stock Exchange is sharp: the missed answers of enterprises in the first round are placed at the top
From the extensive understanding of the first round of inquiry, the second round of targeted thorough inquiry, and even asked relevant reporting enterprises and institutions to self evaluate the quality of letter phi, the second round of inquiry on the science and Innovation Board of Shanghai Stock Exchange obviously changed the “painting style” and was very sharp.
during the year, more than 1300 m & A events were “in progress”, 2.6 times that of the same period last year
M & A events of enterprises have proliferated again. According to the data, since this year (i.e. from January 1 to May 17), the company has 1327 ongoing mergers and acquisitions, compared with 516 in the same period of 2018 and 548 in the same period of 2017. According to the above figures, the number of M & A events in progress this year is about 2.6 times that of the same period last year.
China business daily
the positive signal of the APEC trade ministers’ meeting is to issue a comprehensive joint statement four years later
At the G20 (group of twenty) summit near Osaka, Japan, the 25th APEC trade ministers’ meeting, which ended in Chile on the 18th, released a quite positive signal: for the first time, it successfully issued a comprehensive joint statement of trade ministers, promising to build a free and open trade and investment environment, deepen Asia Pacific regional economic integration and promote regional inclusive development, It also emphasizes the positive contribution of the WTO to international trade.
what signal does the central bank’s monetary policy report detail the integration of interest rates?
As the wind vane of the trend of monetary policy in the next stage, the people’s Bank of China issued the monetary policy implementation report for the first quarter of 2019 on May 17. The report points out that in recent years, the growth rate of M2 is close to that of nominal GDP, and we should support high-quality development with moderate monetary growth.
economic reference daily
eight key points delineate cost reduction and start the busy construction season
Recently, the national development and Reform Commission and other four departments jointly issued the notice on doing a good job in the key work of cost reduction in 2019, which delineated eight key points of cost reduction this year and refined them into 27 key tasks, involving more than 20 departments, directly pointing to the pain points and difficulties of entity enterprises. The industry pointed out that after the deployment at the national level, the task list of cost reduction at the landing level in 2019 was officially released, releasing a strong signal of greater efforts and faster progress to reduce the burden of the entity.
sufficient policy tools, the central bank’s voice to stabilize the exchange rate
When the fluctuation of RMB exchange rate intensifies, the central bank takes the initiative to speak. On May 19, pan Gongsheng, vice president of the people’s Bank of China and director of the State Administration of foreign exchange, made it clear in an interview with the financial times on the current operation of China’s financial and foreign exchange markets, “we have the foundation, confidence and ability to maintain the stable operation of China’s foreign exchange market and the basic stability of the RMB exchange rate at a reasonable and balanced level.” He also said that in recent years, the central bank has accumulated rich experience and sufficient policy tools in dealing with fluctuations in the foreign exchange market. According to changes in the situation, it will take necessary counter cyclical adjustment measures to strengthen macro Prudential Management.
people’s daily
high travel enthusiasm and sufficient consumption power (many highlights of economic development and sufficient toughness)
It is preliminarily estimated that the comprehensive contribution of national tourism to GDP in 2018 is 9.94 trillion yuan. In today’s tourism industry, the demand side is expanding rapidly: the market is constantly refined, and the consumption experience is developing towards personalization, diversification and high quality. Behind the huge growth potential is the people’s yearning for a better life. Optimization and upgrading on the supply side: the integration of culture and tourism has accelerated, well-known brands have emerged, the quality of scenic spots has improved, new characteristic products have emerged, and night consumption has strengthened. Tourism consumption can also be more prosperous. With the accelerated pace of consumption upgrading, tourism and leisure has become an important part of national daily life and a new driving force for consumption and economic growth.
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( East Money Information Co.Ltd(300059) Securities Research Institute)
