This week's view: since April 4, the epidemic in Shanghai has intensified, showing the characteristics of regional agglomeration. Sporadic outbreaks have also occurred in some other regions, and the economy is still facing the serious impact of the epidemic. The Symposium of economic situation experts and entrepreneurs held on April 7 further stressed the need to coordinate epidemic prevention and control and economic and social development, take the initiative, overcome difficulties and strive to stabilize growth. We believe that after this meeting, the formulation and implementation of policies will pay more attention to the innovation of measures, especially at the implementation level. While paying attention to the speed of economic growth, we will pay more attention to the effectiveness of investment and the improvement of consumption, so as to ensure the quality of economic growth. In the face of various unexpected events in the near future, the central government still has sufficient reserves in policy research. Recently, various localities have successively issued loose policies for the housing market, and the real estate market, as the pillar of the national economy, will pick up. We believe that under the background of the state's emphasis on steady growth, more relevant support policies will be issued and the support for enterprise operation will be further strengthened. It is suggested to pay attention to the financial sector in the short term, especially the opportunities of securities companies, and the large consumption sector, infrastructure and construction machinery sector in the medium and short term. At present, the real estate policy in many places is relaxed. It is suggested to pay attention to the real estate sector, especially the high-quality real estate enterprises may usher in an upward period; The national strategic plan shows that China's economy is in a transition period and the manufacturing industry is in a key stage of transformation to high-end development. It is suggested to pay long-term attention to mining high-quality blue chips and advanced manufacturing sectors representing the future of China's economy; As there is still strong uncertainty about the epidemic situation in China, we can focus on fresh food, e-commerce and cloud office in the short term; When the epidemic finally dissipates, the service industry will improve, and the full support of the state will also promote the recovery of the service industry as soon as possible; With the conflict between Russia and Ukraine falling into a stalemate, European countries, especially Germany and France, further seek military autonomy, and China's military expenditure has also expanded accordingly. We can pay attention to the military industry sector.
Hot spots in China: first, on April 7, Li Keqiang, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Premier of the State Council, presided over a symposium of experts and entrepreneurs. Premier Li asked to coordinate epidemic prevention and control and economic and social development, deepen reform and opening up, take the initiative, overcome difficulties, strive to stabilize growth, and maintain economic operation within a reasonable range, mainly stabilizing employment and prices. 2、 From house purchase subsidies to the relaxation of purchase and sale restrictions, the ways of relaxing real estate regulation and control due to urban policies have become more and more diversified, and many provincial capital cities have also issued property market relaxation policies one after another. 3、 The Information Office of the State Council held a regular policy briefing on the morning of April 8. In 2022, China will focus on promoting the preliminary work of 55 major water conservancy projects. It is expected that the investment of water conservancy projects will be about 800 billion yuan in 2022.
International hot spots: first, the minutes of the Fed meeting release more hawkish signals. 2、 The International Energy Agency announced that its members would release 120 million barrels of oil reserves. 3、 Ukraine's negotiating position has changed and the negotiation process will continue to be promoted.
Last week's high-frequency data tracking: last week, the Shanghai stock index fell 0.94% to close at 325185 points, the Shanghai and Shenzhen 300 index fell 1.06% to close at 423077 points, and the gem index fell 3.64% to close at 256991 points.
Risk warning: the epidemic situation in China has deteriorated beyond expectations; The geopolitical situation continued to stir the market.
