March 31st (Thursday), the main contents of today’s headlines are:
China Securities Journal
The people’s Bank of China should actively do a good job in setting the structural tools of monetary policy
The monetary policy committee of the people’s Bank of China recently held a regular meeting in the first quarter of 2022, which pointed out to strengthen the implementation of prudent monetary policy. Structural monetary policy tools should actively do a good job in “addition”. Better meet the reasonable housing needs of property buyers and promote the healthy development and virtuous cycle of the real estate market.
Executive meeting of the State Council: the policy of stabilizing the economy should come out early and quickly, make good use of government bonds and expand effective investment
Premier Li Keqiang presided over the executive meeting of the State Council on March 29, requiring detailed measures to reduce compaction responsibilities and resolutely prevent major and major safety accidents; Deploy and make good use of government bonds, expand effective investment, and promote the improvement of weaknesses and the growth of the economy; It is decided to start a number of new water conservancy projects with mature conditions to improve the ability of water resources guarantee and disaster prevention and reduction.
The strong HENGQIANG annual report reflects the stable profit pattern of the public offering industry
As of March 30, more than 30 public fund companies have disclosed the revenue data of 2021, and the “gold absorption” ability of most public funds has been further enhanced. The net profit of China Merchants Fund increased by 77% year-on-year, and small institutions such as Zheshang fund and CNOOC fund turned from loss to profit in 2021. “The strong is always strong” is becoming more and more obvious in the industry, and the survival state of small and medium-sized fund companies presents a differentiation pattern.
SASAC: the central enterprise group company shall reasonably authorize and delegate power to its subsidiaries
On March 30, Weng Jieming, deputy director of the state owned enterprise reform leading group office of the State Council, member of the Party committee and deputy director of the SASAC, said at the special promotion meeting on improving the corporate governance mechanism and improving the operation quality and efficiency that the central enterprise group company should delegate power due to the authorization of enterprise implementation policies. In principle, it will no longer directly interfere with the operation and management of subsidiary enterprises, and the decision-making power of subsidiary enterprises should be vested in subsidiary enterprises. “For some matters directly related to the subsidiary enterprises seizing market opportunities, even if the group company really needs approval or filing, it should also ‘handle special matters’ to clarify the time limit and improve efficiency, and resolutely prevent the subsidiary enterprises from delaying the aircraft due to the long time of approval or filing.” Weng Jieming stressed
Shanghai Securities News
The net purchase of northbound funds exceeded 10 billion, and the transaction volume of the two cities was enlarged
Yesterday, in addition to the real estate sector, big finance was also an important factor driving the rise of the index: the brokerage sector led the rise, Hongta Securities Co.Ltd(601236) , Boc International (China) Co.Ltd(601696) limit; Among insurance and banking stocks, China Life Insurance Company Limited(601628) , China Citic Bank Corporation Limited(601998) led gains. Looking forward to the future, most institutions agree that the main line of “stable growth” represented by new and old infrastructure and finance is still the focus of the market for some time in the future.
Monetary Policy Committee of the people’s Bank of China: strengthen the implementation of prudent monetary policy and stabilize the macro-economic Market
The reporter learned yesterday that the first quarter regular meeting of the monetary policy committee of the people’s Bank of China in 2022 was held in Beijing recently. The meeting held that since this year, China has comprehensively promoted epidemic prevention and control and economic and social development, effectively implemented macro policies, and maintained a global leading position in economic development and epidemic prevention and control.
Scientific and technological innovation bonds are on the stage, and the financing channels of private enterprise bonds are flowing water
Scientific and technological innovation corporate bonds (hereinafter referred to as scientific and technological innovation bonds) have become a hot topic in the bond market. The latest case is that on March 24, Shandong State owned Assets Investment Holding Co., Ltd. (hereinafter referred to as “Shandong SDIC”) successfully issued 1 billion yuan of scientific and technological innovation bonds on the Shanghai Stock Exchange.
Analysis of the annual reports of the six major banks: greater credit supply and better overall asset quality
In 2021, ICBC, ABC, BOC, CCB, BOCOM and Postal Savings Bank Of China Co.Ltd(601658) respectively realized net profits attributable to shareholders of the parent company of 348338 billion yuan, 241183 billion yuan, 216559 billion yuan, 302513 billion yuan, 87.581 billion yuan and 76.170 billion yuan, with year-on-year growth of 10.3%, 11.70%, 12.28%, 11.61%, 11.89% and 18.65% respectively. The net profit attributable to shareholders of all major banks achieved double-digit growth, which was significantly higher than that of the previous year
Securities Times
The overall demand for loans rose in the first quarter, and bankers were optimistic about the economy in the second quarter
On March 30, the people’s Bank of China released the first group of routine questionnaires for bankers, entrepreneurs and urban depositors since the new year. The survey shows that the overall loan demand index in the first quarter increased month on month, and 67.4% of entrepreneurs believe that the macroeconomic heat index is “normal”. Residents’ cautious expectations are still heating up, and the willingness of urban depositors to save has increased for the fourth consecutive quarter, and the growth rate is expanding.
The performance of A-Shares is expected to improve, and the funds going north are actively seeking the bottom
On Wednesday, A-Shares rebounded sharply. The gem index opened higher and went higher, rising more than 4% unilaterally, and the Kechuang 50 index also rose more than 3%. The trading volume of the two cities increased by nearly 100 billion yuan over the previous trading day. Real estate, Baijiu, brokerage, insurance and other pre adjustment industry sector is the top gainers, coal, seed industry, oil and other sectors are slightly callback.
High dividend returns to shareholders to increase investment options
The capital market attracts investors not only in the rise of stock prices, but also in the need to bring sustained returns to shareholders. With more and more companies paying dividends, especially high dividends, the choices of low-risk preference investors have also increased.
Improve the market mechanism and attract long-term funds from institutions to enter the market
Since this year, global financial markets have continued to fluctuate. The recent meeting of the financial committee of the State Council and the executive meeting of the State Council responded to hot market issues in a timely manner, put forward the deployment of comprehensive measures to stabilize market expectations and maintain the stable and healthy development of the capital market. The cbcirc held a special meeting to actively support the smooth operation of the capital market, give full play to the advantages of long-term investment of insurance funds, and guide insurance institutions to allocate more funds to equity assets
Securities Daily
The central bank’s reverse repo overweight escorts stable cross quarter liquidity, and the industry expects April to be an important window period for RRR reduction
On March 30, the people’s Bank of China (hereinafter referred to as the “central bank”) announced that in order to maintain stable liquidity at the end of the quarter, it would carry out 150 billion yuan 7-day reverse repurchase by means of interest rate bidding. This is also the fourth consecutive working day for the central bank to carry out 100 billion yuan reverse repurchase operation.
Regular meeting of the monetary policy committee of the central bank in the first quarter of 2022: strengthening cross cyclical and counter cyclical adjustment and strengthening the implementation of prudent monetary policy
On March 30, the website of the people’s Bank of China announced that the monetary policy committee of the people’s Bank of China held its 96th regular meeting in the first quarter of 2022 in Beijing recently. The meeting held that since this year, China has comprehensively promoted epidemic prevention and control and economic and social development, effectively implemented macro policies, and maintained a global leading position in economic development and epidemic prevention and control.
The prudent monetary policy is flexible and appropriate, maintains continuity, stability and sustainability, scientifically manages market expectations, strives to serve the real economy and effectively prevents and controls financial risks. The dividend from the reform of quoted interest rate in the loan market continued to be released, the transmission efficiency of monetary policy was enhanced, the loan interest rate was stable, the expectation of RMB exchange rate was stable, and the two-way floating elasticity was enhanced, which played the role of macroeconomic stabilizer.
The six chief executives look forward to the second quarter of China’s economy: there is a grasp of growth and the coordinated development of fiscal and monetary policies
In the face of multiple tests such as the complex and severe international environment and the spread of China’s epidemic, under the joint action of macro policy and the efforts of market players, China’s economy recovered well in the first two months of this year, laying a solid foundation for a good start in the first quarter.
CNOOC’s net profit last year reached a record high of 70.3 billion yuan, returning to A-Shares and speeding up again
On the evening of March 30, CNOOC disclosed the results of 2021, which showed that the annual oil and gas sales revenue was 222.1 billion yuan, a year-on-year increase of 59.1%, the net profit was 70.3 billion yuan, a year-on-year increase of 181.7%, and the basic profit per share was 1.57 yuan, reaching the best level in history. The company adheres to the business strategy of seeking progress while maintaining stability, integrates the normalized management of epidemic prevention and control into production and operation, seizes the favorable opportunity of the recovery of international oil prices, focuses on its main business, expands its advantages, continues to make breakthroughs in reserves and production, significantly improves oil and gas sales revenue, and sets a record high net profit for the whole year
people’s daily
Enterprise power consumption data can be used to apply for loans. Guangdong pilot public data asset voucher reform
On November 26, 2021, Guangdong Jiangmen banking and insurance regulatory branch guided Jiangmen rural commercial bank to cooperate with Jiangmen government service data administration bureau and Jiangmen social insurance Basic Administration Bureau, explored the digital reform of market-oriented allocation of data elements, and launched the country’s first public data asset certificate of “natural person insurance payment”, which is another attempt in the voucher reform of public data assets in Guangdong
21st Century Business Herald
The State Council: pay close attention to issuing the remaining special debts and complete the issuance before the end of September
According to Xinhua news agency, the State Council held an executive meeting on March 29. The meeting called for detailed measures to reduce compaction responsibilities and resolutely prevent major and major safety accidents; Deploy and make good use of government bonds, expand effective investment, and promote the improvement of weaknesses and the growth of the economy; It is decided to start a number of new water conservancy projects with mature conditions to improve the ability of water resources guarantee and disaster prevention and reduction.
The normalization delisting mechanism of A-Shares was accelerated by continuously issuing documents to “strictly implement the compulsory delisting system”
Recently, the general office of the CPC Central Committee and the general office of the State Council issued the opinions on promoting the construction of social credit system and high-quality development and promoting the formation of a new development pattern (hereinafter referred to as the opinions). The opinions clearly pointed out that we should strengthen the construction of integrity in the capital market. Strictly implement the compulsory delisting system and establish a virtuous circle mechanism for the survival of the fittest of listed companies. Strengthen the protection of investors’ rights and interests and create an honest and trustworthy financial ecological environment
first finance
Under the new regulations, electronic cigarette factories consider moving to overseas Southeast Asia as the first choice
According to incomplete statistics, from the end of last year to the beginning of this year, about 20 e-cigarette enterprises have moved to Southeast Asia, and there are many leading enterprises. At the end of last year, shortly after the new plant built in Songshan Lake, Dongguan was put into use, Wang Jing was already considering whether to move to overseas production.
Global markets staged “peace trading”, traders are still vigilant against stagflation risk
Affected by the progress of Russia Ukraine negotiations, the logic of the global market has changed. According to Xinhua news agency, Russia and Ukraine made positive progress in a new round of face-to-face negotiations held in Istanbul, Turkey, on the 29th. Russia promised to significantly reduce military operations in the Ukrainian capital Kiev and Chernigov, and Ukraine proposed to establish a neutral status under international security
economic reference
Comprehensive measures to deal with the rise of international commodity prices
At present, the global covid-19 pneumonia epidemic continues. Coupled with the impact of the conflict between Russia and Ukraine, commodity prices continue to fluctuate at a high level, and the external environment becomes more complex, severe and uncertain. This year’s government work report mentioned that “the supply of energy and raw materials is still tight, and the pressure of imported inflation is increasing”. The author believes that in order to alleviate this pressure, all parties need to take comprehensive measures to actively and effectively deal with the impact of high international commodity prices.
The investment strategy of the institution in April was optimistic, focusing on the growth of undervalued value
On March 30, the three indexes collectively closed up. The first quarter of 2022 is coming to an end. On the whole, A-Shares have undergone significant adjustment. Looking forward to the second quarter, the investment strategy recently released by the institution is more optimistic, indicating that it focuses on the head enterprises with large correction range of early valuation, the high-profile industries verified in the earnings season and the main line of steady growth.
