On Friday, January 25th, the main contents of today’s headlines are as follows:
Media name front page headlines
China Securities Journal commercial banks issue perpetual bonds or leverage more than 4 trillion credit increment
Shanghai Securities News escorts perpetual bonds, and the central bank creates bill swap instruments, which has a neutral impact on the liquidity of the banking system
Securities times scientific innovation board registration system has more choices and more opportunities
Based on Shanghai, the science and Innovation Board of Securities Daily is an important place for economic chess
People’s daily enterprise innovation and multi intellectual property to escort — a survey from the first national intellectual property system demonstration park in China
Economic information daily transportation made a big investment at the beginning of the year, and the annual investment will exceed 2.6 trillion
The 21st Century Business Herald created a highland of institutional innovation. The guiding opinions on deepening reform and opening up in xiong’an new area were issued
China Securities Journal ( zone )
commercial banks issue perpetual bonds or leverage more than 4 trillion credit increment
Launching the issuance of sustainable bonds means that the current capital instrument supplement of China’s commercial banks has entered a new round of policy window. According to the analysis of Minsheng securities, assuming that after the implementation of sustainable bonds in 2019, other Tier-1 capital of commercial banks / net capital of commercial banks will reach 5%, by the third quarter of next year, the amount of bank sustainable bonds is expected to leverage the credit increment of 4.24 trillion yuan, accounting for 28.1% of the total new RMB loans from January to November 2018.
downward non “interest rate cut” signal of treasury cash deposit interest rate
The bid winning interest rate of one-month fixed deposit of cash from the central treasury in the bidding on the 24th was 3.3%, a decrease of 72 basis points compared with the previous deposit of the same term. The agency believes that the sharp decline in the fixed deposit interest rate of treasury cash more reflects the capital demand of banks in the environment of abundant liquidity, which should not be interpreted as a signal of further relaxation of monetary policy.
the “bad currency” accelerates the liquidation, and the merger tide of mutual gold industry is difficult to appear
In 2019, the online loan industry, as the focus of mutual fund risk regulation, was pushed to the forefront again. Mergers and acquisitions between platforms have entered the stage of substantial acceleration, and there are even many platforms that have been listed overseas. At the same time, the supervision has not weakened. With the introduction of the opinions on classified disposal and risk prevention of online loan institutions (hereinafter referred to as “Document No. 175”), small-scale and high-risk institutions are expected to take the initiative to withdraw from the online loan industry, but there will be no obvious wave of merger and reorganization.
the regulatory high pressure continues to be high, and the transfer market has cooled significantly
The high transfer market in previous years is slightly deserted after entering 2019. No matter from the number of companies that disclosed the high transfer plan or from the secondary market performance of these companies, the high transfer market in the new year can not hide their “puffiness” – some rose first and then fell after the plan was announced, some received the attention letter from the exchange, and some were rumored to be urgently clarified after the high transfer. People close to regulators said that 2019 will continue the high-pressure regulatory situation of high transfer in the previous year.
Shanghai Securities News (special area)
escort perpetual bonds the central bank created note swap instruments, which has a neutral impact on the liquidity of the banking system
The people’s Bank of China announced on the evening of the 24th that in order to improve the liquidity of bank perpetual bonds (including non fixed term capital bonds) and support banks to issue perpetual bonds to supplement capital, the people’s Bank of China decided to create a central bank bill swap tool (CBS). Primary dealers in open market business can use the perpetual bonds issued by qualified banks to exchange them for central bank bills from the people’s Bank of China. Insiders said that since the central bank’s bill swap operation is “exchanging bonds for bonds”, it does not involve the throughput of basic currency, and the impact on the liquidity of the banking system is neutral.
performance forecast of listed companies warm up the market and the new momentum of the new economy is bright
The 2018 annual report disclosed that the season began, and the “good news” of Listed Companies in the fields of computer communication, Internet, medicine and biology were frequently reported, and the new economy industry had an obvious positive momentum. Insiders told reporters that “the development momentum of new business forms is quite good, especially in industries with high technical barriers such as computer, Internet and medicine. The added value brought by science and technology and R & D has been preliminarily reflected, and the future is more promising.”
10 A-share companies ranked among various annual game lists
In January, the game lists of major data companies appeared one after another. Behind these rankings “smashed out” by players with cash, there is the next miracle. Not surprisingly, the position of industry overlord is still occupied by Tencent and NetEase. However, A-share online game companies also “play” in it.
st Jinggu arbitragers are all covered by the locking of trading rights?
Yesterday morning, Mr. Zhou, an investor, told the Shanghai Securities News that he bought st Jinggu at 27.4 yuan per share. The shares accepted the offer returned to his account on January 23, but they were not sold that day. On the 24th, he threw them off the limit and “lost a little”. Analysts pointed out that the trusteeship of the shares accepted the offer “depends on the position. Some shareholders are unwilling to accept the offer, of course, you have to guarantee their trading rights; for the shares accepted the offer, since you choose to sell some shares at a high price, of course, you have to bear a certain price”, which is essentially an “ex right”, “So the decline is also expected.”
Securities Times (special area)
one more choice and one more opportunity for the registration system of science and innovation board
The scientific innovation board and the registration system are getting closer and closer. The introduction of excellent and competitive early companies into the capital market will not only enable investors to identify opportunities as soon as possible, but also contribute to economic development and improve China’s scientific and technological level. However, early companies also mean risk amplification. Startups have different valuation methods at different stages. The greater the risk of early failure, the greater the risk, which means that many companies may exit due to entrepreneurial failure, which requires investors to have the discrimination ability of early private equity investment institutions and polish their eyes.
the passenger ticket revenue of the express industry has halved in ten years. The first airport with passenger throughput of more than 100 million
In 2018, the enthusiasm of “hand choppers” to buy continued to heat up, and the express business volume exceeded the 50 billion mark, ranking first in the world. At the same time, the market competition in the industry is becoming more and more fierce. The average single ticket revenue of Yunda Holding Co.Ltd(002120) among the five express giants fell to 1.73 yuan last year.
ten cities venture capital policy big PK VC / PE battle renewed
At the beginning of the 2019 new year, in order to implement the several opinions of the State Council on promoting the sustainable and healthy development of venture capital, there are frequent measures to support the development of venture capital institutions across the country. Shenzhen, Nanjing, Jinan, Zhuhai and other cities take the lead in launching the new deal, and a considerable part of it is emphasized in the Government No. 1 document, The “battle” for VC (venture capital) / PE (private equity) institutions is staged again.
can the goodwill of film and television culture usher in spring after the cold winter?
Compared with the sudden “black swan”, the high goodwill lurking in the financial reports of Listed Companies in the film and television culture industry needs more attention. Due to the surge of mergers and acquisitions in previous years, goodwill has exploded frequently in recent years, and the share prices of some goodwill exploded stocks have fallen sharply. Some analysts believe that with the disclosure of annual performance forecast, after the disclosure of goodwill impairment, the industry is expected to usher in a more positive performance.
Securities Daily (special area)
based on Shanghai, the science and innovation board is an important place in the economic chess game
On the one hand, the business environment has been created and the innovation atmosphere is strong. The science and innovation board just meets the capital needs of these scientific and technological innovation and entrepreneurship enterprises, provides more sufficient nutrition for their growth, provides new investment targets for investors, and makes up for the shortcomings of the capital market with higher adaptability and inclusiveness; On the other hand, the science and innovation board takes root in Shanghai and radiates throughout the country. As an important part of China’s innovation driven and science and technology power strategy, it shoulders the historical mission of implementing “innovation, development, green, opening and sharing”. It will take scientific and technological innovation as the fulcrum, leverage the innovation power of the real economy and provide the source power for the high-quality development of China’s economy.
give priority to supporting the issuance and listing of qualified enterprises in xiong’an New Area
The CPC Central Committee and the State Council issued guidance on supporting the comprehensive deepening of reform and opening up of xiong’an New Area in Hebei Province. The guidance puts forward a total of 35 key tasks in nine aspects, including giving priority to supporting qualified enterprises in xiong’an New Area in issuance and listing, M & A, equity transfer, bond issuance and asset securitization. Support the exploration and promotion of new financial products such as intellectual property securitization in xiong’an new area.
the price of drugs for chronic diseases has decreased significantly. Insiders say it still needs a combination of policies
Chronic disease is a kind of disease that seriously threatens the health of Chinese residents. It has become a major public health problem affecting the national economic and social development. In 2018, after the price reduction of anticancer drugs and the price reduction caused by volume purchase in 4 + 7 cities, the price reduction of drugs in the field of chronic diseases also attracted market attention again.
Jinzhou Cihang was sued by the Harbin Gloria Pharmaceuticals Co.Ltd(002437) actual controller, saying that the cooperation agreement was “signed under compulsion”
On the evening of January 23, Jinzhou Cihang announced that Xi’an nasbao company sued its holding subsidiary Fenghui Leasing Co., Ltd. and its secondary subsidiary Horgos Fengying Enterprise Management Co., Ltd. to the court for the cancellation of the contract of consulting service agreement signed with the two companies in December 2017, and required the two companies to return a total consulting service fee of 390 million yuan and corresponding interest.
people’s daily
enterprises innovate multi intellectual property to escort — a survey from the first national intellectual property system demonstration park in China
In July 2018, in the global innovation index report released by the world intellectual property organization, China became the first middle-income economy to rank among the world’s top 20. Among the regional innovation clusters, Beijing ranked fifth and became a science and technology innovation center attracting global attention. Many people know that there is a Beijing Centergate Technologies (Holding) Co.Ltd(000931) entrepreneurship street in Haidian, Beijing, but they do not know that there is also a ” Beijing Centergate Technologies (Holding) Co.Ltd(000931) intellectual property Street” – a Beijing Centergate Technologies (Holding) Co.Ltd(000931) national intellectual property system demonstration park jointly built by the State Intellectual Property Office and the Beijing Municipal People’s Government in October 2003. This is the first and only national intellectual property system demonstration park approved by the State Council. What has been done in the demonstration park since its establishment 15 years ago? How effective is it? The reporter conducted a field investigation.
economic reference daily
transportation has made a great deal at the beginning of the year, and the annual investment will exceed 2.6 trillion
According to the working conference of China Railway Corporation, the national railway fixed asset investment will maintain the intensity scale in 2019. Ji Zhenpeng, a Construction Engineering Analyst, predicts that the investment scale will reach a new high in 2019, or more than 800 billion yuan. Wu Chungeng, spokesman of the Ministry of transport, revealed at a regular press conference on January 24 that in 2019, transportation will remain generally stable and make progress while maintaining stability, and will face new opportunities in development. It is planned to invest 1.8 trillion yuan in fixed assets of roads and waterways. The Ministry of transport should first accurately supplement the short board.
increase investment in oil and gas exploration, railways, power grids and other key areas, and central enterprises finalize the 2019 mixed reform plan
At the recent 2019 annual work conference, central enterprises in key fields such as electric power, oil, natural gas, railway, civil aviation, telecommunications and military industry have expressed that they will accelerate the construction of world-class enterprises. While increasing investment to “make up for weaknesses and stabilize growth”, they also defined the mixed reform plan and actively introduced social capital. Industry experts said that this means that the mixed reform in key areas is really advancing in depth. At present, the mixed reform in seven fields such as electric power, military industry, communication and oil is very strong, and the mixed reform in key fields is really advancing in depth.
21st Century Business Herald
create a highland of institutional innovation the guiding opinions on deepening reform and opening up in xiong’an new area were issued
After the “master plan of xiong’an New Area” was approved, another heavy document was published. On January 24, the guiding opinions on supporting xiong’an New District to deepen reform and expand opening up issued by the CPC Central Committee and the State Council, which gives a package of policies with high gold content, such as releasing management authority and innovating staffing management. Its purpose is to support the construction of xiong’an new district with high standards and high starting points and build it into a highland of system innovation.
2019 China Securities Regulatory Commission kicked off and market reform ushered in new expectations
The establishment of the science and innovation board is undoubtedly the biggest new thing in the capital market in 2019. The reform promoted by the establishment of the science and Innovation Board will also have a far-reaching impact on the overall operation logic and mechanism of the capital market.
new regulations on asset management orderly resolve non-compliance shadow banking risks 2019 actively and steadily implement the new regulations
In 2018, as the year when the new asset management regulations were officially implemented, the whole market has undergone great changes, including risk release, institutional transformation, etc. At the same time, the economy is also under some downward pressure. Standing at the crossroads of the end of the year, many banking institutions said that the uncertainty seemed greater this year. At the same time, all parties in the market also have some different voices on the new asset management regulations.
