On Monday, December 20th, the main contents of today’s headlines are:

China Securities Journal

The “trio” of restructuring, mixed reform and listed state-owned enterprise reform has reached a climax one after another

The state-owned enterprise reform in 2021 has entered the countdown. This year, we focused on restructuring, mixed reform, asset securitization, etc., and made rapid and steady progress in reform one by one. Facing 2022, according to the deployment of SASAC, the reform of state-owned enterprises in the first quarter will meet the “first examination”, and the three-year action goal of state-owned enterprise reform will be basically completed by July. Industry insiders believe that with the accelerated introduction of a series of reform measures such as mixed reform of state-owned enterprises, structural adjustment and stable growth, in this critical window period in the future, the professional restructuring of central enterprises will usher in a new breakthrough, and the listing of mixed reform will set off a new climax, which is bound to write a more magnificent new chapter in the reform of state-owned assets and state-owned enterprises.

The high-quality development of public funds has made great strides forward

Recently, the 23rd Meeting of the Central Commission for comprehensively deepening reform stressed the need to promote the development of individual pensions suitable for China’s national conditions, government policy support, voluntary participation of individuals and market-oriented operation, and link them with basic old-age insurance and enterprise (occupational) annual pension insurance, so as to realize the supplementary function of old-age insurance. Personal pension, with the investment of personal pension account as the core, is expected to become an important long-term source of funds in the capital market. Asset management institutions represented by public funds will play an important role in serving the market-oriented and professional investment operation of individual pensions.

SASAC proposes eight key tasks for the reform of central enterprises in 2022 to deepen cross industry, cross field and cross enterprise professional integration

Hao Peng, Secretary of the Party committee and director of the state owned assets supervision and Administration Commission of the State Council, recently said that it is necessary to ensure that the three-year action task is basically completed before the 20th National Congress of the party and fully completed by the end of next year. We should pay close attention to the “three obvious achievements”. This year, specialized integration of rare earth and coal will be further implemented.

The short-term style of cross year market layout of securities companies is expected to be “strong and weak”

Last week, the market investment fever cooled down. In the view of brokers, the A-share market is facing a more favorable environment compared with other markets in the world. There is no need to worry too much about the short-term disturbance factors faced by the market. This round of cross-year market is expected to continue until January February 2022. Since the beginning of this year, growth stocks with higher gains have relatively lagged behind in the short term, and the market style may show a pattern of “big strength and small weakness”. For the future allocation direction, consumption, finance and high boom varieties are the main line worth grasping, and there are opportunities for relatively undervalued varieties.

Shanghai Securities News

SASAC defines eight key tasks of central enterprises in 2022

On December 18, SASAC held a meeting of central enterprise leaders. For the focus of central enterprise integration in 2022, the meeting made it clear that it would deepen cross industry, cross field and cross enterprise professional integration, and strengthen the construction of collaborative development platforms such as marine engineering equipment, new energy enterprises, industrial Internet, logistics big data and air freight.

Convertible bonds are hot, and there are “lying flat” investors who have been suffering for six years to “earn a lonely life”

Since this year, the convertible bond market has performed strongly, the CSI convertible bond index has increased by more than 17%, and many individual bonds have also achieved gratifying growth. But even so, the “lying flat” cases of repayment of principal and interest due began to appear in the market, and the investors holding these convertible bonds did not achieve the expected return.

Where will the “policy wind” blow in the new energy market next year?

The top-level design of hydrogen energy will be introduced soon, the large-scale scenery base will continue to be promoted, and the construction of a number of energy storage projects will be accelerated… Under the goal of “double carbon”, the development pace of new energy market will be accelerated next year. A series of supporting policies will further stimulate the market, and the scale of renewable energy, including scenery, is expected to increase significantly next year.

The first carbon emission compliance cycle is coming to an end, and the trading in the national carbon market has increased significantly

According to the previous notice of the Ministry of ecological environment, key emission units in the power generation industry need to complete the quota settlement of the first performance cycle of the national carbon market as soon as possible, so as to ensure that 95% of the key emission units in the administrative region will complete the performance before 17:00 on December 15, 2021, and all the key emission units will complete the performance before 17:00 on December 31.

securities times

In the first November, the efficiency growth of central enterprises reached the best level in history

On December 18, SASAC held a meeting of central enterprise leaders to deeply study and implement the spirit of the 19th CPC National Congress, all plenary sessions of the 19th CPC National Congress and the central economic work conference, summarize the work of state-owned central enterprises in 2021, analyze the current situation, deploy work tasks in 2022, and promote state-owned central enterprises to make greater contributions to stabilizing the macro-economic market and maintaining economic operation within a reasonable range.

How is the “God” fund refined with a cumulative income of nearly 4 times in three years

For three consecutive years, the annual income has exceeded 60%, and the cumulative income in three years has been nearly four times, which is the former God love of Ping An fund manager known as “God” fund in the industry. Since 2019, only six hybrid funds in the whole market have achieved more than 60% performance for three consecutive years (category A and C are counted separately, the same below), of which Ping’an strategy pioneer, Ping’an transformation and innovation a and Ping’an transformation and Innovation Fund under shenaiqian management account for half.

From white horse growth to specialization, new A-share ecology will usher in great changes

In the coming year 2022, Wang Pei will celebrate his 40th birthday, which is just his tenth year of investment. Standing at two important time nodes, Wang Pei said in the interview that he wanted to make some changes.

Release the potential of LPR reform and promote the steady decline of financing costs

Since April 2020, the quoted loan market interest rate (LPR) has remained unchanged for 19 consecutive months. In China’s current interest rate system, LPR belongs to the category of market interest rate, but because it has a significant impact on the financing cost of market subjects, especially the cost of bank loans, it has strong policy signal significance and has attracted extensive attention from the market. Recently, the second RRR reduction in the year has been fully implemented, and the market generally believes that the momentum of LPR reduction has also increased.

Securities Daily

SASAC made it clear that the key work in 2022 was “shouting” to improve the quality of state-controlled listed companies

As an important meeting to summarize the work of state-owned central enterprises this year and deploy the work tasks in 2022, SASAC held a meeting of heads of central enterprises in Beijing on December 18. With regard to the completion of the three-year action of state-owned enterprise reform, which has attracted much attention in the industry, the meeting pointed out that 70% of the scheduled tasks of the three-year action goal of state-owned enterprise reform have been successfully completed; Next year, we should ensure that the three-year action task of state-owned enterprise reform is basically completed before the 20th CPC National Congress and fully completed by the end of next year.

The central government has set the latest tone for the supplementary function of individual pension, and the capital market will welcome the support of “firm partners”

The 23rd Meeting of the Central Committee for comprehensively deepening reform (hereinafter referred to as the “meeting”) held on December 17 deliberated and adopted the opinions on promoting the development of individual pension, which clearly stipulates that it is necessary to promote the development of individual pension suitable for China’s national conditions, government policy support, individual voluntary participation and market-oriented operation, and connect it with basic pension insurance and enterprise (occupation) annual pension, Realize the supplementary function of endowment insurance.

Within a month, 20 cities threw out “red envelopes” for house purchase, and the third and fourth tier cities boosted the property market by multiple means

Recently, the reporter of Securities Daily learned from the official website of Guilin Municipal People’s Government in Guangxi that the notice on several incentive measures for Guilin to increase support for key industries and sprint for economic work in the fourth quarter (hereinafter referred to as the notice) issued by Guilin mentioned that while rewarding the business contribution of real estate development enterprises, Subsidies will also be given to buyers to purchase new commercial houses in Wucheng District.

The number of A-share listed companies of small and medium-sized enterprises reached 1454, and the IPO raised 877.95 billion yuan

In recent years, the development strength of China’s small and medium-sized enterprises has been continuously strengthened. With the increase of capital market support, the number of small and medium-sized enterprises in the group of listed companies has continued to increase. Data show that as of December 19, the number of A-share small and medium-sized enterprises reached 1454, accounting for 31.2% of the total number of A-share listed companies. Among them, since this year, 283 small and medium-sized enterprises have been listed, with a year-on-year increase of 34.1%.

people’s daily

70% of the target tasks of the three-year action of state-owned enterprise reform have been completed

The reporter learned from the meeting of heads of central enterprises held on December 18 that since this year, the SASAC of the State Council and central enterprises have paid close attention to the three-year action of state-owned enterprise reform to promote the continuous release of reform efficiency. At present, 70% of the scheduled tasks of the three-year action goal of state-owned enterprise reform have been successfully completed.

China business daily

The price of silicon material is loose, but there is no rush to install the tide. Is it worth looking forward to the A-share photovoltaic leader

Recently, the silicon material has shown signs of loosening, and the silicon wafer price war has further heated up, Longi Green Energy Technology Co.Ltd(601012) (601012. SH) has reduced the silicon wafer price twice in half a month. Continuous price cuts have depressed the performance of the photovoltaic sector in the secondary market. Since the price of silicon wafer was lowered for the first time on Longi Green Energy Technology Co.Ltd(601012) November 30, Tianjin Zhonghuan Semiconductor Co.Ltd(002129) (002129. SZ) has decreased by 10% in December; The decline of Longi Green Energy Technology Co.Ltd(601012) was 6.31%; Wuxi Shangji Automation Co.Ltd(603185) (603185. SH) fell by more than 18% in the month.

“Crazy” corn: Why did you go bankrupt this year with a net profit of 50 million from grain hoarding last year

Zhang Tieling is a northeast grain trader. In 2020, because he was bullish on corn prices, he hoarded 100000 tons of corn in one fell swoop by using tray funds and leveraging. Benefiting from the rising price of corn, Zhang Tieling made a net profit of 50-60 million yuan in just a few months, from 1700-1800 yuan or even 1600 yuan per ton at the beginning of the year to 3000 yuan. In January 2021, he stood at a historical high of 3100 yuan.

economic reference daily

Decisive three-year action “delineation” of the key points of central enterprise reform in 2022

The efficiency growth of central enterprises reached the best level in history, with a net profit of 1.75 trillion yuan in the first November; 70% of the objectives and tasks of the three-year action of state-owned enterprise reform have been successfully completed, and the specialized integration of rare earth, coal and other industries has been deeply implemented… This is the “report card” of the opening year of the “14th five year plan” displayed at the meeting of heads of Central enterprises (hereinafter referred to as the “meeting”) held by the state owned assets supervision and Administration Commission of the State Council on the 18th.

China pension development report 2021: three types of pension insurance funds reach 13 trillion yuan, and ESG investment may become a new track

It is reported that at present, China’s three types of endowment insurance funds have reached 13 trillion yuan. Entering the field of ESG (environment, society and Governance) will find more good investment opportunities, enhance the ability to maintain and increase value, and better deal with the aging population.