China Securities Journal ( zone )
the long-term supervision mechanism of Internet finance needs to be established
The special meeting on prevention and resolution of financial risks recently held by the financial stability and Development Commission of the State Council listened to the progress report on the special rectification of risks in the online lending industry, and required to speed up the study and formulation of necessary standards and speed up the construction of a long-term supervision mechanism for Internet finance. For the current online loan risk, experts believe that it is necessary to distinguish different situations and improve the credit information monitoring system. At the same time, we should further improve the system construction and fill the regulatory gap.
the stable growth of interim report performance helped the rebound market continue
This week is the deadline for the disclosure of the Chinese newspaper. The disclosure of the Chinese newspaper is coming to an end. In yesterday’s rebound, the secondary market performance of individual stocks with bright performance of the Chinese newspaper was conspicuous, and several stocks rose by the limit. Analysts said that the end of A share performance is expected to form a certain support for the big index. The performance of the mid 2018 helps the market index maintain stability. In the short term, the good performance of the mid term results in the year 2018 will help to continue the repair of the valuation of the cycle and banking sector. Besides, the fundamentals of consumer stocks (mainly seasoning, Baijiu and leisure tourism) are still strong.
financial expenditure funds
In the last week of August, the payment of government bonds and fiscal expenditure had many effects on the supply and demand of market funds. Market institutions expect that the capital will remain moderately loose before the end of the month, and the capital will be stable across the month. In the future, in the context of intensive issuance of local bonds, the coordination and cooperation between monetary policy and fiscal policy is a major focus. It is expected that relevant departments will make comprehensive policies to continue to maintain sufficient liquidity, which is quite certain. However, the constraints of exchange rate on monetary policy remain, and the liquidity will not be too abundant. There will be both bottom support and top constraints in the future.
Kandal crisis
After five years of overt and covert fighting, the “palace fight” between Kandal’s two major shareholders suddenly changed unexpectedly. On August 13 and August 15, three Kandal executives representing the interests of the largest shareholder Huachao Holdings (hereinafter referred to as “Huachao system”) were successively criminally detained by Shenzhen police on suspicion of breach of trust and damage to the interests of listed companies. Jingji group, the second largest shareholder of the company (hereinafter referred to as “Jingji system”), took advantage of the situation and quickly won several important management positions such as chairman and vice president.
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Shanghai Securities News (special area)
the recognition standard of non-performing loans is becoming stricter, and the asset quality of listed banks remains unchanged
Despite certain macro environmental challenges and the pressure from the stricter recognition standards of non-performing loans, the asset quality level of most listed banks remains stable and shows a good trend. This can be seen in the semi annual reports of listed banks published one after another. As of the time of publication, according to the statistics of the relevant data of 12 A-share listed banks that have released the semi annual report, the non-performing loan ratio of most banks has decreased or remained flat compared with the end of the first quarter, and the provision coverage has increased slightly as a whole.
this year, the scale of stock pledge has shrunk by more than 100 billion yuan, the number of Pledged Shares and the pledge rate have decreased significantly
Affected by the decline of the market and the tightening of risk control, the scale of stock pledge business is significantly shrinking. According to the data of East Money Information Co.Ltd(300059) choice, since this year, the difference between the initial transaction amount of stock pledge and repurchase transaction in Shanghai and Shenzhen has reached 143.8 billion yuan, and the overall business scale has negative growth.
add “a barrier” to the refinancing audit and focus on the pledge of high proportion equity
The pledge risk of important shareholders is becoming a “barrier” for the review of refinancing of listed companies. The refinancing feedback disclosed by the issuance Supervision Department of the CSRC on August 24 shows that when checking the Xlinmen Furniture Co.Ltd(603008) refinancing plan, the department focused on the pledge of a high proportion of equity of the company’s controlling shareholders and actual controllers, and asked the company to supplement the disclosure of the purpose of the funds obtained by the pledge and whether it will lead to the change of control.
suspected of the crime of illegally absorbing public deposits, the actual accuser of Jiuyou shares was detained
Jiuyou shares announced today that Han Yue, chairman and general manager of the company, was criminally detained by Fengxian branch of Shanghai Public Security Bureau on suspicion of illegally absorbing public deposits and was temporarily unable to perform his duties. Han Yue is not only the chairman, general manager and actual controller of Jiuyou, but also the founder of Beijing Chunxiao Financial Holding Technology Development Co., Ltd. (hereinafter referred to as “Chunxiao financial holding”) and Chunxiao capital.
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Securities Times (special area)
the 5g spectrum division of the three operators is preliminarily determined, and China Unicom grabs the “C-bit”
The Securities Times reporter learned exclusively from insiders that the current preliminary scheme for 5g spectrum division is that China Telecom Corporation Limited(601728) and China United Network Communications Limited(600050) will obtain 100MHz spectrum resources around 3.5GHz respectively, and China Mobile will obtain 100MHz spectrum resources around 2.6GHz. At the recent 2018 China International Intelligent Industry Expo, Wang Zhiqin, vice president of the Chinese Academy of communications, said that he planned to officially release the final licensing scheme of 5g spectrum resources in September this year; Meanwhile, the auction mode will not be considered in the allocation of frequency bands, and the assignment system will continue.
frequent streaming photography shows that the overall cooling of the national land market
The subtle relationship between house price and land price has always been the focus of hot discussion in the market. The regulation of the real estate market is gradually deepening, which is constantly transmitted to the land market, and many developers are aware of the changes taking place in the market. Compared with the booming land market in previous years, the land market in most parts of the country has cooled down as a whole this year, but it also presents the phenomenon of uneven hot and cold. Since this year, Liupai has appeared more and more in the national land market. According to data, there were 796 land auctions in the national real estate market in the first seven months of this year.
the new regulations on the management of futures actual control accounts to combat market manipulation will be fully implemented soon
Whether there is manipulation in the futures market and how to investigate it? Actual control relationship account management plays an important role. With the recent release of the measures for the management of the account of the actual control relationship of Zhengzhou Commodity Exchange, the measures for the management of the actual control account of China Futures Exchange have been fully released and will be implemented soon.
“Xiangu” Zhonghong shares will participate in debt restructuring when it meets the Savior JDB
Zhonghong shares, a troubled “fairy stock”, met a great savior this time. The white horse knight is the famous JDB group. Zhonghong shares, the controlling shareholder of the company, Zhonghong zhuoye group, jiaduobao group and Shenzhen Qianhai Yinyi Capital Co., Ltd. jointly signed the debt restructuring and operation custody agreement on August 27, 2018. The agreement agreed that JDB group and Qianhai Yinyi capital would restructure the debt of Zhonghong shares and the controlling shareholder Zhonghong zhuoye group, so as to improve the capital structure, adjust the direction of industrial structure, and solve the liquidity difficulties and difficulties encountered in business development.
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Securities Daily (special area)
during the year, 22 insurance enterprises planned to increase capital by 37 billion yuan, and the total amount approved this year increased by 180% compared with last year
At the same time, seven insurance companies have received 44.5 billion yuan of capital supplementary bonds from the wholesale bank, while only three companies were approved to issue 17 billion yuan of similar bonds last year, and the capital increase fever of insurance companies continues. According to statistics, since this year, a total of 22 insurance companies have issued capital increase announcements (some companies have not yet obtained regulatory approval), with a total capital increase of 37.110 billion yuan. From the approved insurance companies, as of August 27, the capital increase applications of 15 insurance companies had been approved by the CBRC, with a total capital increase of more than 26.6 billion yuan. In the same period last year, only eight insurance companies were approved to increase their capital, with a total capital increase of 9.532 billion yuan. In terms of growth rate, the amount of capital increase approved by insurance companies this year increased by 180% compared with the same period last year.
draft amendments to the tax law are submitted to the starting point of the second instance. In October, it is proposed to be raised to 5000 yuan
On August 27, a draft amendment to the tax law was submitted to the second instance. The newly added expenditure for supporting the elderly in the second review draft is deducted before tax, and the personal income tax threshold of 5000 yuan per month remains unchanged. According to the second review draft, the basic deduction standard is proposed to be 60000 yuan per year, that is, 5000 yuan per month, and the new tax rate range of 3% to 45% remains unchanged. In addition to children’s education expenditure, continuing education expenditure, serious illness medical expenditure, housing loan interest and housing rent, the special additional deduction scope increases the expenditure for supporting the elderly.
confirmed that you are the right person. The window for foreign capital to increase its holdings in listed banks opens
“Once you have confirmed your eyes, you are the right person” – this network catchphrase is obviously very suitable for foreign institutions to increase their holdings of listed banks. With the continuous promotion of the opening of the financial industry by supervision, this warm scene may soon be staged in the secondary market.
the participating company changed into a “shell” Guangdong Chaohua Technology Co.Ltd(002288) sued the original counterparty for contract fraud
On August 17, Guangdong Chaohua Technology Co.Ltd(002288) said in the announcement of the reply to the inquiry letter of the Shenzhen Stock Exchange: “Zheng Changchun, the controlling shareholder of Beixin, may have committed contract fraud, has submitted the available evidence to the Economic Crime Investigation Brigade of Meixian District branch of Meizhou Public Security Bureau, and has obtained the return of the case.” In an interview, Guangdong Chaohua Technology Co.Ltd(002288) Board Secretary Zhang Shibao said, “in early July, the company has submitted relevant materials to the Economic Investigation Brigade, but so far it has not received the notice of filing a case from the public security organ. If there is any new progress, we will release the relevant announcement at a time.” Zhang Shibao did not make it clear whether Zheng Changchun’s arrears could be recovered, but repeatedly said that “we are also victims.”
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