On Friday, February 1st, the main contents of today’s headlines are as follows:
Media name front page headlines
The unified restriction on the “closing line” of the two financial institutions of China Securities Journal intends to cancel the CSRC’s guidance on the exchange to improve the mechanism
Shanghai Securities News QFII and rqfii systems were greatly adjusted, access was relaxed, and the scope of investment was expanded
The securities times and the central bank responded to the eight hot spots and disclosed the supervision ideas of monetary policy and new regulations on asset management
Securities Daily China bonds included in Bloomberg Barclays bond index is expected to attract $300 billion in capital inflows
People’s daily decodes the registration system: the innovation of capital market system is first tried on the science and Innovation Board
The economic information daily will issue a package of policies such as the “clearance order” for zombie enterprises to withdraw from the implementation measures in 2019
The investment scope of China business daily QFII and rqfii has been greatly expanded, and foreign private placement has made good profits
China Securities Journal ( zone
)
the unified restriction on the “closing line” of the two financial institutions plans to cancel the CSRC’s guidance on the improvement of the exchange mechanism
According to the news on the website of CSRC on January 31, in order to further optimize the margin trading mechanism and improve the independent management ability of securities companies, Shanghai and Shenzhen stock exchange is speeding up the revision of the detailed rules for the implementation of margin trading, and plans to cancel the unified restriction that the “closing line” shall not be less than 130% and hand it over to the securities companies according to the customer’s credit, the quality of collateral and the company’s risk tolerance, Independently agree with the customer on the minimum maintenance guarantee ratio; At the same time, expand the scope of collateral and further improve the flexibility of customers’ supplementary guarantee. In addition, in order to meet the diversified needs of investors for the underlying securities, the Shanghai and Shenzhen stock exchange is studying to expand the scope of the underlying securities.
QFII and rqfii investment scope expansion two systems fit two into one
According to the news on the website of the CSRC on January 31, the CSRC has solicited public opinions on the revision and integration of the measures for the administration of domestic securities investment by qualified foreign institutional investors, the pilot measures for domestic securities investment by RMB qualified foreign institutional investors and relevant supporting rules.
“three joys” overwhelm “three worries” private placement says the strategic position building time is coming
For the A-Shares that have been continuously adjusted in 2018, at the beginning of 2019, some private placement people began to make some positive voices: 2019 is expected to become a strategic position building point in the next decade. However, many listed companies have recently sounded “performance thunder”, and some investors seem to have doubts about the post holiday market.
false accounts receivable of subsidiaries Omnijoi Media Corporation(300528) performance is dragged down
Omnijoi Media Corporation(300528) the performance forecast was disclosed on the evening of January 31. In 2018, the company had an advance loss of 545 million yuan – 550 million yuan. For the performance loss in advance, the company said that recently, when urging the subsidiary dinnv media to clean up and recover the accounts receivable, it found that the accounts receivable were untrue, and it was subsequently found that there were serious untrue records before the subject matter. Omnijoi Media Corporation(300528) significant provision for impairment of related assets of the subsidiary dinnv media; At the same time, the goodwill generated at the time of acquisition is significantly impaired. The above factors will lead to a loss of about RMB 550 million after the company’s consolidated statements in 2018.
Shanghai Securities News (special area)
QFII and rqfii systems were greatly adjusted, access was relaxed, and the scope of investment was expanded
QFII and rqfii systems have ushered in major adjustments. While relaxing the institutional access conditions, the regulatory authorities also plan to greatly expand the investable scope of QFII and rqfii. In addition to the original varieties, these two types of institutions will be allowed to invest in stocks on the new third board, bond repurchase, private investment funds, financial futures, commodity futures, options, etc. at the same time, they can also participate in margin trading on the stock exchange.
both manufacturing and non manufacturing PMI rebounded, and the economy showed warmth in the first month of the new year
In the first month of the new year, manufacturing PMI rebounded more than expected, and non manufacturing PMI rose to a four month high, indicating a stable start to the economy in 2019. According to the data released by China Federation of logistics and procurement and the service industry survey center of the National Bureau of Statistics yesterday, in January 2019, China’s manufacturing procurement manager index (PMI) was 49.5%, an increase of 0.1 percentage points over the previous month.
the inclusion of Chinese bonds into the international mainstream index for the first time is expected to bring 100 billion US dollars of “living water”
The amount of funds tracked by the global composite index is about US $2 trillion. It is preliminarily estimated that US $100 billion will flow into China’s bond market if China’s bond market joins the index.
99% shares + 1% assets = about 40.2 billion yuan Henan Shuanghui Investment & Development Co.Ltd(000895) is it a good deal to attract and merge Shuanghui group?
Henan Shuanghui Investment & Development Co.Ltd(000895) recently issued a restructuring plan to price the controlling shareholder Shuanghui group at about 40.2 billion yuan to implement absorption and merger. For a time, the market value of Henan Shuanghui Investment & Development Co.Ltd(000895) exclaimed by the outside world will move from 80 billion to 120 billion. In fact, this is a misreading. The reporter of Shanghai Securities News found that 99% of the overall valuation of Shuanghui group of 40.167 billion yuan comes from its Henan Shuanghui Investment & Development Co.Ltd(000895) 59.27% shares. After the transaction is completed, the shares held by Shuanghui group will be cancelled. From the result deduction, after the merger, the total share capital of the listed company increased by only 20 million shares.
Securities Times (special area)
in response to the eight hot spots, the central bank revealed the regulatory ideas of monetary policy and new regulations on asset management
In 2018, the central bank released nearly 6 trillion yuan through multiple rounds of targeted RRR reduction and MLF. Although these funds were basically transmitted to the real economy, from the feedback of the banking system, banks still “dare not lend and are unwilling to lend” for key links and weak areas such as small and micro enterprises and private enterprises. Therefore, to further dredge the transmission mechanism of monetary policy and make funds more smoothly transmitted from the banking system to the real economy has become the main goal of the central bank’s monetary policy operation this year.
CSRC: it plans to combine QFII and rqfii systems into one
Yesterday, the CSRC solicited public opinions on the revision and integration of the measures for the administration of domestic securities investment by qualified foreign institutional investors, the pilot measures for domestic securities investment by RMB qualified foreign institutional investors and relevant supporting rules. Among them, relax the access conditions, cancel the requirements for quantitative indicators, and retain the types of institutions and compliance conditions; Expand the scope of investment. In addition to the original varieties, qualified foreign institutional investors (QFII) and RMB qualified foreign institutional investors (rqfii) can also invest in stocks, bond repurchase, private investment funds, financial futures, commodity futures, options, etc. listed in the National SME share transfer system (new third board).
the CSRC plans to cancel the 130% limit on the two financial closing lines
The CSRC yesterday issued two new policies under consideration, one of which is to guide the exchange to take three measures to improve the margin trading mechanism, including the proposed cancellation of the unified restriction that the “closing line” shall not be less than 130%, and the securities company shall independently agree with the customer to maintain the minimum guarantee proportion according to the customer’s credit, collateral quality and the company’s risk tolerance; At the same time, expand the scope of collateral and further improve the flexibility of customers’ supplementary guarantee. In addition, in order to meet the diversified needs of investors for the underlying securities, the Shanghai and Shenzhen stock exchange is studying to expand the scope of the underlying securities.
are all the disasters caused by billions of mergers and acquisitions, the “king of losses in advance” Dalian Zeus Entertainment Co.Ltd(002354) several debts are overdue
On the night of the thunder explosion in the performance focus, Dalian Zeus Entertainment Co.Ltd(002354) (002354) is expected to have an annual loss of 7.3 billion yuan to 7.8 billion yuan, equivalent to about 1.8 times its market value, becoming the “king of pre loss” of the year. Dalian Zeus Entertainment Co.Ltd(002354) in the third quarterly report released last October, it was estimated that the net profit range in 2018 was 0-510 million yuan. The sudden change of performance caught investors off guard.
Securities Daily (special area)
the inclusion of Chinese bonds in the Bloomberg Barclays bond index is expected to attract $300 billion into
On January 31, Bloomberg officially confirmed that it would include Chinese bonds in the Bloomberg Barclays bond index from April this year. According to the data provided by Bloomberg, 363 Chinese bonds will be included in the Bloomberg Barclays global composite index. After full inclusion, the proportion of Chinese bonds denominated in RMB in the index will reach 6.03%, becoming the fourth largest currency bonds after the dollar, euro and yen. Many institutions predict that US $300 billion will flow into China’s bond market by 2021.
five sets of listing standards of science and innovation board reflect the high tolerance of science and innovation enterprises
On January 30, the stock listing rules of Shanghai Stock Exchange on the science and Innovation Board (Draft for comments) were released, ending the previous speculation in the industry about who can go on the science and innovation board. The listing rules set five sets of differentiated listing indicators for listed enterprises on the science and innovation board, and enterprises can choose one of them. The author believes that the diversified listing standard of science and innovation board can better accommodate the listing needs of scientific and technological innovation enterprises in different development stages and different industries, and help scientific and technological innovation enterprises obtain capital market support in the critical period of development.
CSRC plans to merge QFII and rqfii systems to invest in futures
Recently, the CSRC solicited public opinions on the revision and integration of the measures for the administration of domestic securities investment by qualified foreign institutional investors, the pilot measures for domestic securities investment by RMB qualified foreign institutional investors and relevant supporting rules. The revision plans to expand the scope of investment and add 6 varieties of stocks, bond repurchase, private investment funds, financial futures, commodity futures and options listed on the new third board.
Shanghai Huaming Intelligent Terminal Equipment Co.Ltd(300462) the fourth restructuring was questioned, the target performance declined and the lawsuit was entangled
Recently, Shanghai Huaming Intelligent Terminal Equipment Co.Ltd(300462) disclosed the concerned fourth restructuring plan, which plans to acquire 100% equity of poly technology at a price of 865 million yuan and raise supporting funds. However, on the second day of the announcement, the stock price fell by the limit on the first day of the resumption of trading. On the second day of the resumption of trading, the stock price fell by more than 9%. Behind investors voting with their feet are concerns about the decline of the profitability of the acquisition target, the entanglement of lawsuits, and the high goodwill buried in this acquisition.
people’s daily
decoding the registration system: Institutional Innovation in the capital market is first tried on the science and innovation board
The registration system is an innovative institutional arrangement in China’s capital market, which is eagerly awaited by countless enterprises to be listed. The registration system launched this time is determined to try first on the science and innovation board, which not only shows the determination to vigorously promote the reform, but also takes into account the balance between the reform rhythm and market development. It is a breakthrough in the basic system of the capital market.
economic reference daily
a package of policies such as the “clearance order” for zombie enterprises to withdraw from production capacity in 2019 will be
The main objectives and tasks of coal and steel capacity reduction in the 13th five year plan have been basically completed. The key next step is to make efforts to improve the supply quality. The “clearance order” of zombie enterprises has been issued in 2019. At present, many departments such as the Ministry of industry and information technology, the SASAC and Shaanxi, Henan, Hebei and Heilongjiang have defined the operational objectives, and will deal with the difficulties in startup, implementation A package of policies such as exit implementation measures will be put forward. According to the requirements of the notice on further improving the debt disposal of “zombie enterprises” and de capacity enterprises issued at the end of last year, local people’s governments at all levels and relevant state-owned asset management departments at all levels shall regularly determine the list of “zombie enterprises” and de capacity enterprises that need to carry out debt disposal, and the first list shall be determined before February 23, 2019. The list of subsequent disposal enterprises shall be reasonably arranged and determined. In principle, all disposal work shall be completed before the end of 2020.
it is too early to assert that the Fed’s monetary policy will shift in an all-round way
According to the latest decision of the Fed’s monetary policy meeting, the Fed may suspend interest rate hikes in 2019. Comprehensively weighing the main indicators such as inflation, unemployment and economic growth on which the Fed’s decision-making depends, it is obviously too early to think that the Fed will no longer raise interest rates or that monetary policy will turn loose.
China business daily
the investment scope of QFII and rqfii has been greatly expanded, and foreign private placement has made good profits
On January 31, the CSRC fired another shot at the opening of the capital market. The CSRC announced, The measures for the administration of domestic securities and futures investment by qualified foreign institutional investors and RMB qualified foreign institutional investors (Exposure Draft) (hereinafter referred to as the administrative measures) and The provisions on issues related to the implementation of the measures for the administration of domestic securities and futures investment by qualified foreign institutional investors and RMB qualified foreign institutional investors (Draft for comments) (hereinafter referred to as the implementation provisions) are open to the public for comments.
“purchase with quantity” landing survey: 30% of patients refuse low-cost drugs
The implementation plan of volume procurement in “4 + 7” cities has been implemented, and the reshuffle of the pharmaceutical industry has become a foregone conclusion. In view of the problems of “expensive medical treatment” and “high drug price”, the state has launched a set of “combination boxing”, one of which is to organize the pilot of centralized drug procurement and use (i.e. volume procurement). As a supporting document, the pilot program for the centralized procurement and use of drugs organized by the state was recently issued, and pilot work has been carried out in 11 cities.
