Key investment points:
The 14th five year plan for modern energy system was released
On March 22, the national development and Reform Commission announced the “14th five year plan for modern energy system” jointly issued with the national energy administration. The plan points out that China’s energy security has entered a critical period, the low-carbon transformation of energy has entered an important window period, and the modern energy industry has entered a period of innovation and upgrading.
The plan puts forward the main objectives of modern energy system construction during the 14th Five Year Plan period. These include: more secure and powerful energy security; Carbon dioxide emissions per unit of GDP have decreased by 18% in five years; By 2025, the proportion of non fossil energy consumption will increase to about 20%, the proportion of non fossil energy power generation will reach about 39%, the level of electrification will continue to improve, and the proportion of electric energy in terminal energy consumption will reach about 30%; The allocation of energy resources is more reasonable, and the energy consumption per unit of GDP has decreased by 13.5% in five years; By 2025, the proportion of flexibly regulated power supply will reach about 24%, and the response capacity of power demand side will reach 3% ~ 5% of the maximum power load; During the 14th Five Year Plan period, the investment in energy R & D increased by more than 7% annually, and about 50 new key technology breakthrough areas were added.
Overall, in addition to the green and low-carbon transformation, the plan also mentioned the development of hydropower according to local conditions. By 2025, the installed capacity of conventional hydropower will reach about 380 million KW; Actively, safely and orderly develop nuclear power. By 2025, the installed capacity of nuclear power operation will reach about 70 million KW. We should aim at the new power system, safe and efficient energy storage, hydrogen energy, a new generation of nuclear energy system, carbon dioxide capture, utilization and storage, natural gas hydrate and other frontier fields. We should implement a number of forward-looking and strategic national major science and technology demonstration projects to benefit carbon neutralization, clean energy and other related sectors as a whole.
Financing funds
On March 21, the balance of A-share financing was 1591451 billion yuan, an increase of 4.728 billion yuan month on month; The balance of margin trading was 1685071 billion yuan, an increase of 5.75 billion yuan month on month. The balance of financing minus securities lending was 1497831 billion yuan, an increase of 3.707 billion yuan month on month.
Land stock connect and Hong Kong stock connect
On March 22, the net purchase transaction of land stock connect on that day was -922 million yuan, including 40.05 billion yuan of purchase transaction and 40.972 billion yuan of sales transaction, with a cumulative net purchase transaction of 1595206 billion yuan. Hong Kong stock connect had a net purchase transaction of HK $2.825 billion on the same day, including a purchase transaction of HK $21.671 billion and a sale transaction of HK $18.846 billion, with a cumulative net purchase transaction of HK $2283391 billion.
Money market
On March 22, Bank Of Shanghai Co.Ltd(601229) inter-bank offered rate Shibor overnight interest rate was 1.9460%, down 6.90bp, Shibor week was 2.1040%, up 3.10bp. The weighted interest rate of pledged repo of depository institutions was 1.9504% overnight, down 4.60bp and 2.0616% a week, down 1.76bp. The 10-year maturity yield of China national debt was 2.8302%, up 1.75bp.
Overseas stock market
On March 22, the Dow Jones Industrial Average closed at 3480746 points, up 0.74%; The S & P 500 index closed at 451161 points, up 1.13%; The NASDAQ index closed at 1410882, up 1.95%. European stock markets, French CAC index closed at 665941 points, up 1.17%; Germany’s DAX index closed at 1447320 points, up 1.02%; The FTSE 100 index closed at 747672, up 0.46%. In the Asia Pacific market, the Nikkei index closed at 2682743 points, up 0.65%; The Hang Seng Index closed at 2188928 points, up 3.15%.
Foreign exchange rate
On March 22, the dollar index fell 0.05% to 984386. The euro rose 0.14% against the dollar to 1.1030. The dollar rose 1.12% against the yen to 1208185. Sterling rose 0.71% against the dollar to 1.3262. The spot exchange rate of RMB against the US dollar closed at 6.3600, depreciating by 0.02%. The spot exchange rate of offshore RMB against the US dollar closed at 6.3764, depreciating by 0.08%. The central parity rate of RMB against the US dollar closed at 6.3677, depreciating by 0.40%.
Gold, crude oil
On March 22, Comex gold futures fell 0.73% to close at US $192150/oz. WTI crude oil futures fell 1.97% to close at US $108.75/barrel. Brent crude oil futures fell 1.36% to close at US $110.93/barrel. COMEX copper futures rose 0.16% to close at US $4.7100/lb. LME copper three-month futures rose 0.10% to close at US $10280 / ton.
