daily selection
China Central Television: Xi Jinping presided over the 24th Meeting of the Central Committee for comprehensively deepening reform, and stressed to accelerate the construction of world-class enterprises and strengthen the training of talents in basic disciplines. The meeting pointed out that we should improve the formulation and implementation mechanism of inclusive financial policies, improve the inclusive financial infrastructure, institutional rules and grass-roots governance, accelerate the improvement of risk sharing and compensation mechanisms, and promote the formation of a long-term mechanism with affordable costs and sustainable business. We should attach great importance to preventing financial risks. [details]
first finance and Economics: Dai Dongchang, Vice Minister of the Ministry of transport, said in response to a reporter’s question that infrastructure construction and investment will be carried out moderately ahead of schedule this year, taking the construction of key projects as an important starting point for expanding effective investment in transportation, comprehensively promoting the implementation of transportation projects among 102 major national projects, and implementing a number of significant Major transportation engineering projects with far-reaching impact, large volume, good benefits and leading technology. [details]
surging news: february 28, the National Energy Administration issued a summary of the reply to the proposal No. 0229 (Gongjiao post and telecommunications No. 17) of the fourth session of the 13th National Committee of the Chinese people’s Political Consultative Conference, guonengtdian [2021] No. 146. The reply pointed out that the national energy administration is preparing the renewable energy development plan for the 14th five year plan, which will comprehensively consider factors such as resource endowment, consumption capacity and construction conditions, optimize the regional layout of new energy development, adhere to the simultaneous development of centralized and distributed development, promote the construction of a number of major renewable energy bases and vigorously support the development of distributed new energy. [details]
china.com: Xiao Yaqing, Minister of industry and information technology, said at the press conference that policies such as subsidies for the purchase of new energy vehicles, awards and subsidies for charging facilities, vehicle and vessel tax reduction and exemption will continue to be implemented. At the same time, new energy vehicles, green smart appliances and green building materials will be carried out in the countryside. [details]
macro economy
Securities Times: China Securities Regulatory Commission has provided window guidance to some fund companies, guiding fund companies to suspend the reporting of pension target funds with a period of less than three years, and the approval of products that have been reported will also be suspended. The reason is that the holding period is too short, which violates the original intention of pension target funds to encourage investors to hold for a long time and pursue the long-term steady appreciation of pension assets. The person in charge of the research department of a fund company also disclosed that it is not a one size fits all stop, but requires fund companies that have pension products of less than three years to demonstrate the reasons for re declaration, and companies that do not have products of less than three years can continue to declare. [details]
national development and Reform Commission: according to the monitoring of the national development and Reform Commission, the national average pig grain price ratio was 4.98:1 in the week from February 21 to 25, entering the level I warning range of excessive decline determined in the plan for improving the regulation mechanism of government pork reserves and ensuring supply and price stability in the pork market. The national development and Reform Commission, together with relevant departments, will immediately start the collection and storage of the central frozen pork reserve and guide all localities to actively collect and store. According to preliminary statistics, at present, Beijing, Jiangxi, Hubei, Chongqing, Yunnan, Shaanxi, Ningxia and other places have started collection and storage, and other places will also start in the near future. [details]
financial Associated Press: Ministry of agriculture and rural areas issued the work plan for the supervision of agricultural genetically modified organisms in 2022, which mentioned strengthening the supervision of seed production and operation. Strengthen the investigation of seed production bases and suspected seed production fields, carry out timely detection before and at the seedling stage, check early and small, and prevent illegal genetically modified seeds from falling into the ground. Strengthen the sampling inspection of genetically modified components in seed processing and operation, severely punish illegal processing and operation according to law, and prevent illegal genetically modified seeds from flowing into the market. [details]
national development and Reform Commission: recently, the market price of iron ore has risen sharply, during which there have been many abnormal fluctuations. According to the analysis of relevant parties, at present, the supply and demand of iron ore market is generally stable, China’s inventory is at a high level for many years, and the price has risen too fast recently, which is hyped. The national development and Reform Commission attaches great importance to the changes in the market price of iron ore, and will conduct in-depth investigation with relevant departments, strengthen supervision, severely crack down on illegal acts such as spreading false information, bid up prices and malicious speculation, and study and further take effective measures to effectively ensure the stable operation of the market price of iron ore. [details]
industry trends
financial Associated Press: Anhui Provincial Department of economy and information technology jointly issued the “high quality development plan of Anhui Province in the 14th five year plan” for automobile industry, which proposed that Anhui supports national brand automobile enterprises to explore overseas markets, focus on breaking through strategic markets such as Europe, North America and ASEAN, continue to expand the international influence of Anhui automobile brands and become the first brand in independent export. [details]
interface news: on February 28, the interface news learned from Contemporary Amperex Technology Co.Limited(300750) that Zeng Yuqun proposed in his proposal to promote the stable supply and price of lithium resources in China that the current supply and demand situation of lithium resources is severe and the development of the industry is facing challenges. “We should speed up the exploration and development of China’s lithium resources and ensure the safety of the supply chain. At the same time, we should strengthen independent innovation and scientific and technological research, and improve the level of recycling and efficient utilization of resources.” Zeng Yuqun said. [details]
financial Associated Press: relevant staff of Chengdu development and Reform Commission told the reporter of blockchain daily that they are raising the public’s awareness of virtual currency mining through SMS and other means. Recently, the Chengdu development and Reform Commission issued a text message warning that, according to relevant national regulations, virtual currency mining belongs to the backward production technology and equipment eliminated by the state, and relevant business activities belong to illegal financial activities. They are faced with loan interruption, power interruption, network interruption and credit risks and bear legal responsibilities. Relevant personnel will be investigated for party and government discipline responsibilities. [details]
interface news: on February 28, the data released by China Automobile Circulation Association showed that the inventory early warning index of Chinese automobile dealers in February 2022 was 56.1%, up 3.9 percentage points year-on-year and down 2.2 percentage points month on month, and the inventory early warning index was above the boom and bust line. [details]
stock market focus
China Securities News: on February 28, China Merchants Fund issued an investment view, pointing out that from the perspective of short-term market operation rhythm, there is no need to be too pessimistic about the current weak consolidation. The market is expected to gradually recover in March, and it is still optimistic about the investment direction with steady growth as the main line.
China Merchants Fund analysis pointed out that from the perspective of market style, the current performance of the value sector is still better than that of the growth sector. At the bottom of the credit cycle, the steady growth policy is expected to heat up, bringing the expected profit of the undervalued sector up, and the marginal change is superior to the growth sector. In the next stage, we should still look for the intersection of undervalued value and profit margin improvement, and pay attention to the undervalued sector with consumption and infrastructure chain as the core. In terms of growth sector, we still need to wait for a more positive signal of the recovery of market risk appetite. [details]
chinanews: the office of the chief investment officer of wealth management (CIO) of UBS said on the 28th that the geopolitical tension in Eastern Europe and the acceleration of global inflation have made investors’ risk aversion high, and China’s stock market can show greater resilience compared with other stock markets. CIO has upgraded Chinese stocks to bullish in its asset allocation strategy in Asia. The agency believes that, unlike in Asia and the rest of the world, the people’s Bank of China is implementing loose monetary policy to support China’s economic recovery. Since last December, the central bank has lowered several key ratios and interest rates and indicated that it will continue to reduce them. Then, the total credit growth in January exceeded market expectations. The CIO sees this as an important development because the trough of credit expansion means that the stock market will turn for the better. [details]
China Fund News: familiar scene is staged again, and the north is rushing to raise funds at the end of the trading. Near the closing, if considering the outstanding trading volume of pending orders, the net inflow of northbound funds once exceeded 10 billion yuan, reaching 13.261 billion yuan. However, most of the pending orders were not closed. Data show that on February 28, the net inflow of funds from the North was 2.047 billion yuan. On February 9, MSCI announced the quarterly index adjustment, and nine stocks were transferred into the MSCI global standard index series. Overseas passive index funds will adjust the layout of these stocks along with the index, and the adjustment will close on February 28, that is, take effect on February 28. [details]
financial Associated Press: approaching March, the two sessions of the National People’s Congress in 2022 will be held soon. Among them, the fifth session of the 13th National People’s Congress will be held in Beijing on March 5, 2022 and the fifth session of the 13th National Committee of the Chinese people’s Political Consultative Conference will be held in Beijing on March 4, 2022. As an important window to observe the national economic and social development, the two sessions will be closely watched by the people all over the country every year, and the market of the two sessions will gradually open. At present, the A-share sector is rotating at a high speed. The two sessions are expected to specify the focus of policies and the goal of economic growth. The policy setting of the two sessions will provide an important reference for the structural opportunities of the whole year. Historically, according to the statistics of the market of the two sessions in the past 11 years, during the two sessions, the Shanghai stock index generally showed half rise and half fall. [details]
subscription of new shares: Wankong Zhizao
new debt subscription: shang22 convertible bonds
IPO: none
new bond listing: tiannai convertible bond
company news
Zhuhai Cosmx Battery Co.Ltd(688772) : it is planned to invest 4 billion yuan in the construction of high-performance new lithium-ion battery project
Huizhou China Eagle Electronic Technology Co.Ltd(002579) : it is proposed to invest 1.5 billion yuan in Zhuhai integrated circuit (IC) packaging substrate industry project
Guangdong Aofei Data Technology Co.Ltd(300738) : sign cooperation intention notice with Baidu
Beijing Sinohytec Co.Ltd(688339) : controlling shareholders, some directors, supervisors, senior executives and business technical backbones plan to increase their shares by 8.3-11.5 million yuan in total
Suzhou Secote Precision Electronic Co.Ltd(603283) : controlling shareholder sun Feng plans to passively reduce the holding of no more than 6% shares
Fujian Yongfu Power Engineering Co.Ltd(300712) : joint bid for Pingtan offshore wind farm EPC project
Tus Environmental Science And Technology Development Co.Ltd(000826) : was filed by the CSRC on suspicion of violation of laws and regulations of letter phi
Shanghai Tunnel Engineering Co.Ltd(600820) : won the bid for 5.561 billion yuan of major projects in total
Western Mining Co.Ltd(601168) : intends to transfer 27% equity of lithium resources company held by the controlling shareholder
Jiangxi Zhengbang Technology Co.Ltd(002157) : plans to sell some shares of feed holding subsidiaries to Beijing Dabeinong Technology Group Co.Ltd(002385) for about 2-2 billion yuan
Bank Of Chongqing Co.Ltd(601963) performance express: net profit in 2021 increased by 5.42% year on year
Nuode Investment Co.Ltd(600110) performance express: net profit in 2021 increased by 740993% year on year
Hunan Gold Corporation Limited(002155) performance express: net profit of 362 million yuan in 2021, with a year-on-year increase of 60.85%
data list
Shanghai and Shenzhen Stock Markets: on February 28, the three major A-share indexes rebounded after opening low. As of the closing, the Shanghai index rose 0.32%, the Shenzhen Composite Index rose 0.32% and the gem index rose 0.89%. On the disk, digital currency, port shipping, titanium dioxide concept, coal, covid-19 detection, oil and gas exploitation and service, lithium extraction from Salt Lake and other sectors led the increase; Prefabricated buildings, kitchen and bathroom appliances, industrial machines, real estate services, education and other sectors led the decline.
Hong Kong stocks: Hong Kong stock Hang Seng Index closed down 0.24%, real estate stocks fell sharply, rongchuang China fell more than 16%, Zhengrong real estate fell more than 5%; Auto stocks weakened, Great Wall Motor Company Limited(601633) down 7.4%, and Geely Auto fell nearly 5%; Shipping stocks led the gains, with Cosco Shipping Holdings Co.Ltd(601919) up more than 6% and OOCL up 7.7%.
Shanghai Shenzhen Hong Kong stock connect: february 28, the North bought a net 2.047 billion yuan of funds, including 1.708 billion yuan of Shanghai Stock connect and 339 million yuan of Shenzhen Stock connect. Among the top ten traded stocks, China Three Gorges Renewables (Group) Co.Ltd(600905) , Zijin Mining Group Company Limited(601899) , Ganfeng Lithium Co.Ltd(002460) net purchases ranked among the top three, with net purchases of 365 million yuan, 244 million yuan and 169 million yuan respectively. The first three stocks that were net sold were Ping An Insurance (Group) Company Of China Ltd(601318) , China stock market news and Aier Eye Hospital Group Co.Ltd(300015) , with net sales of 441 million yuan, 204 million yuan and 153 million yuan respectively.
dragon and tiger list: february 28, the largest net capital inflow was Xiangtan Electrochemical Scientific Co.Ltd(002125) , which was 160 million yuan. According to the data, the daily limit of the stock closed at 15.06 yuan, with a full day turnover rate of 8.3%, close to the historical high of 15.19 yuan. The net inflow of funds into the top Huaxin Shanghai Branch net purchase of 512062 million yuan. A total of 20 stocks were involved in the institutional participation in the dragon and tiger list, of which 5 stocks were net bought by the institution, and Yimikang Tech.Group.Co.Ltd(300249) was bought the most, amounting to 397616 million yuan. In addition, 15 shares were net sold by institutions, and Beijing Infosec Technologies Co.Ltd(688201) was sold the most, amounting to 162 million yuan.
margin trading : as of February 25, the balance of Shanghai and Shenzhen stock markets was 1725245 billion yuan, a decrease of 1.876 billion yuan compared with the previous trading day. Among them, the financing balance was 162954 billion yuan, a decrease of 1.943 billion yuan compared with the previous trading day; The balance of securities lending was 95.705 billion yuan, an increase of 67 million yuan over the previous trading day.
Shibor : Shibor reported 2.2340% overnight, up 0.3 basis points; Seven days Shibor reported 2.2490%, down 7.3 basis points; Three month Shibor reported 2.3700%, down 0.4 basis points
foreign exchange
On February 28, the central parity rate of RMB was reported at 6.3222, up 124 points, and the central parity rate of the previous trading day was reported at 6.3346 The onshore RMB closed at 6.3111 against the US dollar at 16:30 on February 28, up 31 points from the previous trading day
property market observation
China News Network: driven by the loose credit environment and local supportive policies, the transaction activity of many real estate markets has increased rapidly after the Spring Festival. According to a report released by the shell Research Institute on the 28th, in February 2022, the price index of second-hand houses in 50 cities mainly monitored by the agency was the same as that in January, ending the continuous month on month decline since August last year, and the number of declining cities decreased to 22. [details]
financial Associated Press: according to the new house transaction data of 16 major cities monitored by the China Index Institute, in February this year, the transaction volume of each line of cities decreased by 23.4% year-on-year and 31.3% month on month, still continuing the adjustment trend. “In February, the overall property market transactions declined, mainly because the current property market is still running at a low temperature, the confidence of home buyers has not been restored, and the market activity is insufficient; in addition, due to the repeated impact of the Spring Festival holiday and the epidemic situation in some cities, the number of visits to sales offices in many places is low.” Chen Wenjing, market research director of index division of China Index Research Institute, told reporters. [details]
International Information
interface news: according to Kyodo News Agency reported on the 28th, the statistics of Japan Automobile Industry Association showed that Japan’s automobile production in 2021 was 7.847 million, a decrease of 2.7% over the previous year, the lowest in 45 years after 1976. The report said that due to the shortage of semiconductors and the difficulty in purchasing parts caused by the spread of covid-19 epidemic in Southeast Asia, automobile production has declined for three consecutive years. In addition, due to the long-term shortage of semiconductors, production may also stagnate in 2022. [details]
China Central Television: affected by factors such as the ultra-low interest rate environment in the early stage of covid-19 epidemic, the retail investors in the Korean stock market increased significantly. Among them, many people have been addicted to investing in stocks. This was described by the local media as “stock poisoning”. At the same time, since South Korea allows more than one person, the number of active stock accounts in South Korea exceeded 60 million for the first time in February this year, equivalent to 1.16 times the total population. Some “stock poisoning” people have to seek medical consultation because of their deep addiction. [details]
futures market
China Futures: China commodity futures closed with mixed gains and losses, with soda ash and eg falling more than 4%, rapeseed meal and bean first-class falling more than 3%, soybean meal and staple fiber falling more than 2%, rubber and bean second-class falling more than 1%, palm and ferrosilicon falling slightly; Hot rolls, Zheng alcohol, etc. rose by more than 3%, peanuts, iron ore, etc. rose by more than 2%, apples, Shanghai zinc, etc. rose by more than 1%, eggs, corn, etc. rose slightly.
International Futures: WTI April crude oil futures closed up $4.13, or 4.51%, to $95.72/barrel; In February, it rose by more than 10.67%. April gold futures, the most actively traded gold futures market on the New York Mercantile Exchange, rose $13.1 on the 28th from the previous trading day to close at $1900.7 an ounce, up 0.69%
overseas index
US stock market: the three major US stock indexes ended mixed, with the NASDAQ up 0.41%, the Dow down 0.49% and the S & P 500 down 0.24%. The three major stock indexes fell more than 3% in February and recorded two consecutive monthly declines.
European stock market: London stock market, the financial times 100 stock average price index 28 daily closed at 745825, down 31.21 points or 0.42% from the previous trading day. France’s Paris Stock Market CAC40 index closed at 665883, down 93.60 points or 1.39% from the previous trading day; Germany’s Frankfurt stock market DAX index closed at 1446102, down 106.21 points or 0.73% from the previous trading day.
Asia Pacific Stock Market: february 28, the Nikkei 225 index closed up 0.19% to 2652682 points. South Korea’s Kospi index closed up 22.42 points, or 0.84%, at 269918 on February 28.
