March 18th (Friday), the main contents of today’s headlines are:
China Securities Journal
The CSRC has continuously stated that it will spare no effort to maintain the stable operation of the capital market, improve the endogenous stability mechanism of the market and solve key and sensitive issues
Yi Huiman, Secretary of the Party committee and chairman of the CSRC, presided over the Party committee meeting on March 17 and made deployment arrangements for the implementation of the CSRC system. The meeting stressed that we should adhere to the principle of stability, further improve the endogenous stability mechanism of the capital market, promote the resolution of key and sensitive issues related to capital market expectations, ecology and environment, and make every effort to maintain the smooth operation of the market.
Stable expectation policy, sufficient capital, reasonable and sufficient period
From the perspective of comprehensive institutions, in the short term, the capital flow is increased, the trading exchange is relatively sufficient, and the risk is gradually released. Northbound capital ended its net outflow trend for eight consecutive trading days on the 17th. A number of fund companies announced self purchase, and industrial capital continued to increase its holdings. On the whole, the market is not short of money. In the long run, the general trend of residents’ additional allocation of equity assets remains unchanged, and the increase of long-term capital participation is not only a trend, but also encouraged by policies. At the macro level, steady growth is the primary goal at present. Monetary policy can be strengthened, and liquidity will remain reasonably abundant.
Ministry of Commerce: sustained and stable economic recovery, further strengthening the confidence of foreign investors
Gao Feng, a spokesman of the Ministry of Commerce, said at a regular press conference of the Ministry of Commerce on the 17th that since this year, China’s economy has continued to recover steadily, production demand has increased rapidly, and consumption has recovered steadily, further enhancing the confidence of foreign investors. China will further expand its high-level opening-up to the outside world and welcome investors from all over the world to invest and start business in China. It will also continue its efforts to provide better services for investors from all over the world and create a market-oriented, legal and international business environment.
Fund self purchase enthusiasm is high, and many institutions have expressed confidence intensively
As the market valuation fell back to an attractive level, fund companies set off a self purchase boom. Previously, Harvest Fund, Wanjia fund, YONGYING fund, Qianhai open source fund and other fund companies announced self purchase measures one after another. Fund companies generally said that based on their firm confidence in the long-term healthy and stable development of China’s capital market, the current investment cost performance of A-Shares is high
Shanghai Securities News
CSRC: improve the endogenous stability mechanism of the capital market and make every effort to maintain the smooth operation of the market
Adhere to the principle of stability, further improve the endogenous stability mechanism of the capital market, promote the resolution of key and sensitive issues related to capital market expectations, ecology and environment, and make every effort to maintain the smooth operation of the market.
China’s first batch of financial holding licenses were issued, and CITIC financial holding and Beijing Financial Holding took the lead
China’s first two financial holding companies were officially approved for establishment. It is reported that the people’s Bank of China has recently approved the establishment license of China CITIC Financial Holding Co., Ltd. (Preparatory) and Beijing Financial Holding Group Co., Ltd. Analysts believe that the approval of the establishment of the first batch of financial holding companies means that a series of institutional arrangements for financial holding companies in the early stage have been implemented and entered the implementation stage.
The securities industry is expected to release about 20 billion yuan in disguised “RRR reduction”
The securities industry welcomes another heavy positive. According to the news released by China Securities Depository and Clearing Co., Ltd. yesterday, China Clearing reduced the payment proportion of the minimum settlement provision for stock business to 16% and reduced some registration and settlement fees. According to relevant estimates, about 20 billion yuan is expected to be released.
Since the resurgence of public offering, star fund managers are happy to watch the aftermarket
Based on the confidence in the long-term healthy and stable development of the capital market, recently, e fund, Ruiyuan, BOCOM Schroeder, Tianhong and other fund companies once again announced the self purchase of their funds. In addition, some star fund managers also made large self purchases. A number of fund companies have expressed distinct views and agreed that the medium and long-term allocation value of the A-share market is prominent
Securities Times
CSRC: fully maintain the smooth operation of the market and promote the reform of the comprehensive registration system
On March 17, Yi Huiman, Secretary of the Party committee and chairman of the CSRC, presided over a party committee meeting. The meeting said that we should further improve the endogenous stability mechanism of the capital market, promote the resolution of key and sensitive issues related to capital market expectations, ecology and environment, spare no effort to maintain the stable operation of the market, promote the full implementation of the reform of the stock issuance registration system, and comprehensively promote the construction of the basic system of the capital market and the improvement of the legal system Key reform tasks such as regulatory transformation and improvement of regulatory capacity have achieved results.
Decisively take the “warm move” of the securities regulatory system to support the recovery and development of the real economy
In order to support the areas with severe covid-19 pneumonia epidemic, implement the spirit of the special meeting of the financial committee of the State Council, and give full play to the function of the capital market in supporting the real economy to accelerate the recovery and development, the stock exchange, China Clearing, national stock transfer Corporation and other units of the securities regulatory system issued relevant fee reduction and exemption measures on March 17 to work with all parties in the market to overcome difficulties.
US interest rate hike does not hinder China’s monetary policy
The Federal Reserve will successively start the process of raising interest rates and shrinking the table. Will it restrict the loose space of China’s monetary policy? There is no need to worry about this. China’s low inflation level, sufficient room for the RMB exchange rate, and a basically balanced balance of payments are all strong backing for China’s monetary policy to remain moderately loose.
Digital energy has become a common trend, and major companies have accelerated their admission
Driven by the goals of carbon peaking and carbon neutralization, intellectualization and low-carbon have become the two deterministic development trends in the next 30 to 40 years. Intellectualization requires digital technology, while low-carbon is inseparable from electronic power technology. The global energy industry is moving from resource dependent to technology driven. In this way, a trillion level industry integrating digital technology and electronic power technology – Digital Energy came into being
Securities Daily
Front page of Securities Daily: three confidence helps A-share industry stabilize and grow
Confidence is power! With confidence, the market will be stable! Confidence comes from the firm attitude of the financial regulatory authorities to jointly maintain the stable development of the capital market; The confidence of all parties in the A-share market also comes from the continuous efforts of the “steady growth” policy and the steady improvement of the macro-economy; Confidence also comes from the vigorous vitality shown by A-share listed companies.
Guide long-term institutional investors to enter the market, trillion yuan incremental funds can be expected
On March 16, the financial stability and Development Commission of the State Council held a special meeting to emphasize that financial institutions must proceed from the overall situation and firmly support the development of the real economy. Long term institutional investors are welcome to increase their shareholding ratio. On the same day, the Party committee of the CSRC held an enlarged meeting and proposed to improve the system and mechanism conducive to the participation of long-term institutional investors in the capital market, increase the cultivation of public funds and other institutional investors, and encourage long-term investment and value investment.
The central bank issued the first batch of financial holding company licenses, and relevant institutions stated that they would operate steadily and strengthen risk control
On March 17, according to the information on the official website of the people’s Bank of China, the people’s Bank of China approved the establishment license of the financial holding company of China CITIC Financial Holding Co., Ltd. (Preparatory) and Beijing Financial Holding Group Co., Ltd.
This is also the first time that the people’s Bank of China has issued a financial holding company license.
More than 2 Zoje Resources Investment Co.Ltd(002021) annual reports were released, and the performance of chemical listed companies temporarily led other industries
The disclosure of the annual report is in progress. As of press time, 246 A-share annual reports for 2021 have been released, and the chemical raw materials and chemical products manufacturing industry has temporarily become the industry with the fastest performance growth of listed companies. Statistics show that according to the growth rate of net profit attributable to the parent company, five of the top ten listed companies have chemical raw materials and chemical products manufacturing, accounting for half
21st Century Business Herald
Six 10 billion explosion funds resist the “problem” of withdrawal
The “fixed income +” explosion fund with “more stable performance and smaller withdrawal” in the publicity has collectively seen a “reduction in fixed income” this year. Since this year, only 5% of the “fixed income +” funds have achieved positive returns. Even the “fixed income +” funds, which sold very well in 2021, are no exception. All six 10 billion new funds have negative returns this year.
The central bank issued the first batch of financial holding licenses to implement comprehensive, continuous and penetrating supervision on financial holding companies
The first batch of financial holding licenses were implemented. On March 17, the central bank approved the establishment license of China CITIC Financial Holding Co., Ltd. (Preparatory) and Beijing Financial Holding Group Co., Ltd. The central bank said that the establishment of financial holding companies is conducive to promoting non-financial enterprises to effectively isolate finance and industry, prevent cross infection of risks, realize centralized and unified management of financial equity, and promote standardized and sustainable development
first finance
How does the Fed’s super interest rate hike cycle affect China’s stock bond exchange rate
The Fed’s interest rate hike is bound to have a spillover effect on global finance. However, China’s monetary policy will remain “self-centered” in order to continue to support the recovery of the real economy. Although international funds often flow out of emerging markets during the interest rate increase cycle, at present, major international investment banks maintain “over allocation” to China’s stock market. The investment director of several foreign capital management institutions told reporters that with the adjustment of China’s epidemic prevention and treatment plan and the stable expectation from real estate, platform economy, Chinese stocks and other aspects, this will help foreign capital continue to flow into China.
Heavy documents support this group to settle in the city! Strictly control the expansion of provincial capital cities
In March 17th, the national development and Reform Commission issued the key task of new urbanization and urban rural integration in 2022, and proposed that we should deepen the reform of registered residence system. According to the carrying capacity of resources and environment and the actual needs of economic and social development, all kinds of cities should unblock the channels for the whole family to settle in the city for the agricultural transfer population who have a stable employment and life locally
economic reference
Deepen reform to stimulate market vitality and endogenous driving force for development
This year’s “government work report” proposed that “we will unswervingly deepen reform and stimulate market vitality and endogenous driving force for development”. Continuing to deepen reform is a strategic choice to continuously stimulate market vitality and endogenous driving force for development. At present, facing the complex and severe situation outside China and many risks and challenges, we need to unswervingly deepen reform, give full play to the integrated effect of effective market and promising government, and then build a high-level socialist market economic system.
In the first quarter, infrastructure investment made a full sprint and key projects stepped up construction
The first quarter is drawing to a close. The central and local governments are speeding up the progress. A number of projects in key areas such as energy, transportation and water conservancy have been started intensively, and the renewal and reconstruction of Urban Aging gas and other pipe networks have also been stepped up. At the same time, the issuance of a batch of special bonds of RMB 1.46 trillion is expected to be completed in the first quarter, and the capital construction is expected to be completed ahead of schedule. The analysis pointed out that the growth rate of infrastructure investment in March will still be at a high level, and the growth rate is expected to reach about 10% in the first quarter.
