This week’s market:
The social services (Shenwan) sector index rose or fell by + 2.30% in the week, ranking 5 / 31 of the rise and fall of Shenwan industry.
Shanghai Stock Index (- 0.11%), Shenzhen Component Index (- 2.93%), Shanghai and Shenzhen 300 (- 1.68%) and gem index (- 3.75%).
Ranking of sub industries: SW tourism and scenic spots (+ 4.20%), SW Education (+ 3.00%), SW hotel catering (+ 2.27%), SW professional services (+ 1.59%), SW sports II (- 1.60%).
Top five gainers in social service industry: Shanghai Xinnanyang Only Education & Technology Co.Ltd(600661) (+ 18.15%), Dalian My Gym Education Technology Co.Ltd(002621) (+ 12.57%), Beijing Dataway Horizon Co.Ltd(301169) (+ 12.07%), Beijing Yuanlong Yato Culture Dissemination Co.Ltd(002878) (+ 9.78%), Btg Hotels (Group) Co.Ltd(600258) (+ 9.43%);
Top five declines in social service industry: Shanghai Lisheng Racing Co.Ltd(002858) (- 6.50%), Zhejiang Ssaw Boutique Hotels Co.Ltd(301073) (- 6.18%), Shenzhen Anche Technologies Co.Ltd(300572) (- 5.26%), Suzhou Electrical Apparatus Science Academy Co.Ltd(300215) (- 4.92%), Beijing Career International Co.Ltd(300662) (- 3.99%).
Core view:
In the government work report, the highlights of the social service sector are summarized as follows:
Catering, tourism and accommodation: give full play to the role of policy and development finance, and the relief policies have been implemented one after another. Approaching the peak tourist season of Qingming and may day, with the stability of epidemic prevention and control, the pace of industrial recovery is expected to accelerate, and there are leading enterprises that are good for the sub circuit.
Three child birth: the birth policy has new supporting measures. Improve the supporting measures of the three child fertility policy, include the care expenses of infants under the age of 3 into the special additional deduction of personal income tax, develop inclusive childcare services, reduce the burden of family rearing, and it is suggested to pay attention to the demand boost of the maternal and infant consumption industrial chain.
Education: continue to reduce the burden in the stage of compulsory education and improve the school running conditions of vocational education. Great changes have taken place in China’s population, urban-rural pattern and regional economic development differences. The field of education is facing structural contradictions. The report emphasizes accelerating the improvement of the high-quality education system and strengthening inclusive education.
Employment: we will strengthen employment services for more than 10 million college graduates and use 100 billion yuan of unemployment insurance fund to support job stabilization and training. The scale of flexible employment groups in China is growing. The report emphasizes the improvement of flexible employment social security policies and suggests paying attention to China’s human resources service industry chain.
Hainan: promote the construction of Hainan free trade port and strengthen the reform, opening up and innovation of the pilot free trade zone. In the short term, affected by the epidemic, in the medium and long term, we are optimistic about the potential of Hainan as an international tourism consumption city, which is also conducive to promoting China to form a new development pattern with China’s big cycle as the main body and China’s international double cycle promoting each other.
Risk warning: global epidemic control; Regulation of national policies; Industry regulatory risks; The downward pressure on the economy has increased.
