On Thursday, December 23rd, the main contents of today’s headlines are:

China Securities Journal

The total scale exceeded 25 trillion yuan, and the public funds ran out of the “acceleration” of development

Equity funds frequently burst, and “fixed income +” funds attract numerous funds, and innovative products emerge one after another… 2021 is not the year when the performance of public funds is the most “outstanding”, but in the history of public funds, 2021 is destined to leave a strong mark.

National Development and Reform Commission: further clarify and simplify investment audit management

According to the news from the national development and Reform Commission on December 22, the national development and Reform Commission recently issued several opinions on further promoting the reform of the examination and approval system of investment projects, which proposed to further clarify and simplify the management of investment examination and approval, and strictly control the addition or disguised addition of examination and approval links. We will strengthen the decision-making management of investment projects and earnestly prevent the blind development of “two high” projects and the blind launching of illegal government investment projects. We will provide coordination services for real estate investment trust funds (REITs) projects in the field of infrastructure, strengthen tracking services for new projects to be invested in infrastructure REITs, coordinate and accelerate the preliminary work and construction progress, and promote the formation of physical workload as soon as possible.

Cross year investment does not stop, and there is no worry about funds at the end of the year

Since December 20, the central bank has restarted and continuously carried out 14 day reverse repurchase operations. Insiders pointed out that as a cross quarter and cross section “special tool”, the emergence of 14 day reverse repurchase shows the intention of the monetary authority to stabilize year-end liquidity. Comprehensively considered, in December, there was a trillion level RRR reduction before and a large amount of financial investment after. During this period, the open market operation of the central bank played a role of connection and cooperation, which can meet the reasonable needs of financial institutions for liquidity of different periods, and the capital should be worry free at the end of the year. At the same time, the expectation of “interest rate cut” of policy interest rate in the market is also heating up.

“Bottom reading” path emerged, and funds poured into pharmaceutical and Hong Kong stock ETFs

As an important tool for investors to grasp the structural market, the trend of ETF funds is often ahead of the market. Recently, the pharmaceutical sector and Hong Kong stocks continued to callback, and funds seized the opportunity to obtain cheap chips. Data show that in the past month, the net inflow of ETF funds in the pharmaceutical sector exceeded 7 billion yuan, and the net inflow of Hong Kong stock ETF exceeded 20 billion yuan. Most fund managers believe that Hong Kong stocks reflect better allocation value after substantial adjustment.

Shanghai Securities News

RMB assets continue to be “popular” and international institutions have voted in favor

2021 is an extraordinary year: the global epidemic continues to evolve, the external environment becomes more complex and severe, and the expectation of monetary policy normalization in major economies is gradually rising… It is against this background that RMB assets still “rise in the wind” with the advantages of high yield, independence and security, which are widely favored by foreign investors.

The “14th five year plan” for the development of digital transportation has been released, accelerating the development of new transportation infrastructure, vehicle road coordination and automatic driving

The 14th five year development plan for digital transportation (hereinafter referred to as the plan) recently issued by the Ministry of transport proposes that by 2025, the development pattern of “one brain, five networks and two systems” will be basically completed, important progress will be made in new transportation infrastructure, and the level of digitization, networking and intelligence of the industry will be significantly improved.

The technology sector takes over the real estate market and the wind direction changes rapidly

On Wednesday, the market wind direction changed rapidly. Driven by the rise of technology sectors such as the Internet and consumer electronics, the Shenzhen composite index continued to rebound, while the Shanghai index fluctuated under the influence of the correction of weight sectors such as finance and real estate. As of the close, the Shanghai Composite Index closed at 3622.62, down 0.07%; The Shenzhen Component Index closed at 14791.33, up 0.70%; The gem index closed at 3368.70, up 0.55%.

The bank raised more than trillion yuan this year, setting a record to “replenish blood” and enrich the “money bag”

Since this year, bank financing has exceeded 2 trillion yuan. After deducting the maturity repayment of existing bonds, the annual net financing is expected to exceed trillion yuan. According to statistics, from various data, an obvious feature of the bank’s “blood replenishment” this year is that the refinancing (IPO, fixed increase, share allotment and convertible bonds) that can supplement the core tier 1 capital is very active, and the scale has been implemented more than 140 billion yuan, more than three times that of last year, while the proposed financing scale of the disclosure plan is also 130 billion yuan. Market analysts predict that banks will still maintain a considerable amount of financing in 2022.

securities times

National Development and Reform Commission: simplify investment audit management and strictly enforce investment approval activities

On December 22, the national development and Reform Commission issued several opinions on further promoting the reform of investment project examination and approval system. The opinions requires that we should continuously improve the innovative application level of the online approval and supervision platform for investment projects, standardize and orderly deepen the reform of the approval system for investment projects, so as to provide strong support for fully stimulating the vitality and driving force of social investment and continuing to give full play to the key role of investment in stabilizing economic growth.

Overcapacity PK technology reform PV industry risks and opportunities coexist

2021 is the first year of PV parity on the Internet, but it has encountered the dilemma of soaring prices in the industrial chain. The bidding price of centralized power station components once exceeded 2 yuan / W. In the face of unstable factors in the industrial chain, China’s installed capacity this year is lower than expected. However, capital’s enthusiasm for photovoltaic is still high. As of the closing on December 22, there are 9 A-share photovoltaic companies with a market value of 100 billion.

To ensure the intensity and sustainability, the local bond issuance next year focuses on improving the quality and quantity

Many experts said that under the requirements of stable growth and more sustainable finance, the overall issuance scale of new local bonds in 2022 is flat or slightly lower than this year, the scale of new general bonds may decline, and the scale of new special bonds is expected to be flat or improved. From the perspective of approving the amount in advance and issuing it, the pace of bond issuance next year will move forward as a whole. In order to form the physical workload as soon as possible, the preliminary preparation of the project and the performance management of the use of special debt funds will be further strengthened next year. At the same time, the risk resolution of local government implicit debt is still the key work of the financial department next year. Many experts believe that under the continuous and strict supervision, the incremental implicit debt has been controlled. At present, the key to the implicit debt risk lies in the difficulty in the transformation of some local financing platforms and the risk of stock debt, How to do a good job in the market-oriented transformation of local financing platforms will become the key.

Zhejiang Huayou Cobalt Co.Ltd(603799) set foot in the upstream of lithium battery chain and plans to acquire overseas lithium mines with us $420 million

The outbreak of new energy vehicles has boosted the demand for metal lithium, and many Chinese companies have begun to buy Minerals overseas. On the evening of December 22, Zhejiang Huayou Cobalt Co.Ltd(603799) (603799) announced that it planned to acquire 100% equity of Zimbabwe prospect lithium mining company at a price of US $422 million.

Securities Daily

In depth rectification of “pseudo private placement” risks and protection of the industry

“Pseudo private placement” is dressed in sheep’s clothing and confuse the fake with the real. At a small scale, it will cause market chaos, bad money will expel good money, and at a large scale, it will affect social stability. For “pseudo private placement”, we should light the red light, punch hard and resolutely clear it.

The public fund industry has reached a new level of 24 trillion yuan, and product innovation has “blossomed in the second place”

2021 will be an extraordinary year for the public fund industry. This year, although the market fluctuated and the net worth of many funds was affected, the public fund industry was still booming, and the total scale of asset management reached a new level of 24 trillion yuan. As of December 22, the average performance of the fund significantly exceeded the market index. The average yield of equity funds was 7.17%, of which the average yield of active equity funds was 7.92%.

Institutions debated the general trend of a shares: can the tiger be powerful in 2022?

Affected by multiple factors, the A-share market fluctuated in 2021, continuing the structural market. Near the end of the year, the trend of A-share market in 2022 has become the focus of investors. 2022 is the year when cattle meet tigers in the lunar calendar. Can the A-share market continue its power?

During the year, IPO raised more than 520 billion yuan, reaching a new high, and bond market financing increased steadily

During the year, more than 500 new shares were listed on a shares, with a total IPO fund-raising of more than 520 billion yuan, and the number of new shares and fund-raising reached a record high; In terms of bond financing, the issuance scale of the bond market of Shanghai and Shenzhen Stock Exchange reached 16.77 trillion yuan, growing steadily for many consecutive years. Industry experts believe that stock financing and bond financing go hand in hand, which is closely related to the continuous improvement of the capital market operation system. With the deepening of the reform of the registration system, stock financing is expected to speed up again. At the same time, the financing scale of the bond market will continue to rise, and the direct financing function of the capital market will be brought into full play.

21st Century Business Herald

Accelerate the construction of a national unified market and promote the smooth flow of commodity factor resources

Recently, the 23rd Meeting of the Central Commission for comprehensively deepening reform deliberated and adopted the opinions on accelerating the construction of a national unified market. When presiding over the meeting, the general secretary stressed that to build a new development pattern, it is urgent to accelerate the construction of a national unified market with high efficiency, standardization, fair competition and full opening, and establish a national unified market system and rules, Promote the smooth flow of commodity factor resources on a larger scale.

China Mobile’s A-share premium is 52.25%, and the premium rate of issuing ah shares is China Telecom Corporation Limited(601728) half

On December 22, China Mobile launched online subscription with the subscription code of “730941”, the issue price was 57.58 yuan / share, and the corresponding P / E ratio was 12.02 times. The upper limit of single account subscription is 253000 shares, and the market value of Dingge subscription is 2.53 million yuan.

people’s daily

Let scientific and technological innovation better benefit mankind

Scientific and technological innovation is an important engine for the development of human society and a powerful weapon to deal with many global challenges. Facing the extensive and far-reaching impact of covid-19 pneumonia and the unprecedented opportunity of a new round of scientific and technological revolution and industrial reform, it has become the common pursuit of all countries in the world to develop power from science and technology and solve human development problems with scientific and technological innovation.

China business daily

“Crazy” corn: the rise and growth of Large Grain Growers sometimes “grow lonely” all year round

“If there were no natural disasters, the income from growing grain would be very stable on the whole.” Liu Song is a big grain grower in Northeast China. Since the establishment of the cooperative to grow corn in 2013, he has basically made a profit every year except “the corn price was 1 yuan and 3 kg (wet grain) in 2016, and he didn’t earn any money”. The net income of a ridge (15 mu) of land, from the initial 2000 ~ 3000 yuan, can reach 7000 ~ 8000 yuan, up to 10000 yuan with the rise of corn price in recent years.

The latest requirements of environmental letter approval are coming! These listed companies and bond issuing enterprises will wear “tight hoops”

From February 8 next year, key pollutant discharge units, enterprises implementing compulsory cleaner production audit, listed companies and bond issuing enterprises that meet the requirements shall disclose environmental information according to law. Otherwise, the competent environmental department will order correction, circulate a notice of criticism and impose a fine. On December 21, the Ministry of ecology and environment announced the above requirements in the administrative measures for the legal disclosure of enterprise environmental information.

economic reference daily

Northbound funds sold net for four consecutive days, and many institutions said that the scale of “fake foreign capital” was low

Data show that on December 22, northbound funds sold a net 1.745 billion yuan throughout the day, for four consecutive days. On the same day, the Shanghai Stock connect net sold 1.706 billion yuan and the Shenzhen Stock connect net sold 39 million yuan. China Merchants Securities Co.Ltd(600999) pointed out that according to the estimation of the position data of intermediaries, the shareholding scale of northbound funds entrusted by domestic intermediaries is no more than 100 billion yuan, accounting for no more than 4%, and the possible scale of “fake foreign capital” is low. In addition, the scale of northward capital flowing into A-Shares through foreign institutions is higher, which is also the main source of short-term northward capital fluctuations.

Wang Yiming, vice president of China Center for international economic exchanges: stabilizing the macro economy and making a good policy combination

The central economic work conference stressed the need to “make progress while maintaining stability”, “macro policies should be stable and effective”, “all parties should actively launch policies conducive to economic stability” and “strive to stabilize the macro-economic market”. This series of important statements convey a strong signal of “stability”. How to treat the importance of “stability” and firmly grasp the tone of “stability”? How to make concerted efforts to play a good policy combination? How to grasp the new characteristics of economic operation in the new stage, make better progress in stability and promote high-quality development? The reporter of economic information daily interviewed Wang Yiming, vice president of China International Economic Exchange Center.