April 15th (Friday), the essence of today’s headlines is:
China Securities Journal
Valuation scissors narrowed merger and reorganization ecology brewing change
In recent years, with the steady progress of the reform of A-share registration system, high-quality assets have sought IPO. Under the “seesaw effect”, the once hot M & a market continued to cool. At the same time, the valuation “scissors gap” between IPO and M & A of small market value companies continues to narrow, M & A with in-depth integration along the industrial chain is increasing, M & A between A-share listed companies “eat a” is gradually normalized, and a new change has emerged.
The “third trial” of the draft law on futures and derivatives is imminent, and it is planned to improve the supervision of derivatives transactions
Insiders expect that the futures and derivatives law is expected to be passed after the “third trial” and promulgated and implemented this year. The futures and derivatives market will usher in the “basic law”, and the level of marketization, legalization and internationalization is expected to be improved, so as to better undertake the important task of serving the national strategy and the real economy from a new starting point.
In the first quarter, the absorption of foreign investment increased rapidly and the foreign trade policy of stabilizing foreign investment is expected to increase
Shu jueteng, spokesman of the Ministry of Commerce, said at a regular press conference of the Ministry of Commerce on April 14 that China’s absorption of foreign capital increased rapidly year-on-year from January to March this year, realizing “open door stability”. In the face of internal and external challenges, the basic policy of stabilizing foreign trade and foreign investment is expected to be strengthened.
Major projects appear intensively, and trillion level infrastructure investment is advanced
Since the beginning of this year, a new upsurge of key projects has been set off in various places. On the one hand, the annual major project investment plan of more than 12 trillion yuan in 24 places was intensively unveiled, and on the other hand, the special bonds of 3.65 trillion yuan were issued and used early. The agency expects that the growth rate of infrastructure investment in the first quarter may exceed 10%, and the broad infrastructure investment is expected to increase by 5% to 8% this year, helping the economy operate within a reasonable range
Shanghai Securities News
People’s Bank of China: timely use monetary policy tools such as RRR reduction to guide banks to implement the deferred repayment of individual housing loans
At present, what changes have taken place in the mortgage interest rate? How to implement the deferred repayment policy of individual housing loans? How does the people’s Bank of China create two special re loans for scientific and technological innovation and inclusive pension? The heads of relevant departments and bureaus of the people’s Bank of China responded to market concerns at the press conference on financial statistics in the first quarter of 2022 on April 14.
Rapid growth of 25.6% in the first quarter China’s attraction of foreign investment achieved “open door stability”
According to the data released by the Ministry of Commerce yesterday, the actual use of foreign capital in the first quarter was 379.87 billion yuan, a year-on-year increase of 25.6%; In US dollars, it was US $59.09 billion, a year-on-year increase of 31.7%. Shu jueteng, spokesman of the Ministry of Commerce, said that from January to March this year, China’s absorption of foreign capital increased rapidly year-on-year, realizing “open door stability”.
Lowering reserve requirement expectations and raising confidence fund managers hotly discuss the future direction
On the 14th, the activity of A-share market increased significantly. A number of fund managers said that the market has given a good response to the expected reduction of the reserve requirement. Next, we should observe the specific implementation of the policy combination, including the reduction of the reserve requirement. It is clear that the policy bottom has been further consolidated, and the market bottom may be getting closer and closer.
The quarterly report of nearly 200 companies increased significantly in advance, and the prosperity of the three industries made rapid progress
As of April 14, 498 companies have issued performance forecasts for the first quarter of 2022. Among them, 387 companies expect the net profit attributable to the parent company to increase year-on-year in the first quarter, accounting for 77.7%. Among them, 190 companies expect the maximum increase of net profit to exceed 100%. In the pre increase camp, the biomedical industry, lithium battery and photovoltaic industry chain related to covid-19 detection are the most eye-catching. In addition, the performance growth of cyclical stocks such as coal chemical industry is also exciting
Securities Times
Escort the healthy development of the market, and the futures and derivatives law will be “read the third time”
The draft futures and derivatives law will be reviewed for the third time at the 34th meeting of the Standing Committee of the 13th National People’s Congress from April 18 to April 20. Zang Tiewei, spokesman of the Legislative Affairs Committee of the Standing Committee of the National People’s Congress, said at a press conference yesterday that the futures and derivatives law raised the current futures related systems to legal norms, brought derivatives trading into the scope of adjustment, provided legal guarantee for the healthy development of the futures market and derivatives market, and was conducive to giving full play to the functions of relevant markets in discovering prices, managing risks and allocating resources, We will give better play to the role of futures markets and derivatives markets in serving the real economy.
Consumption is delayed but demand is strong. The leading household building materials enterprises expand production against the trend
According to the main data of the total retail sales of social consumer goods in 2021 released by the National Bureau of statistics, the total retail sales of social consumer goods in the whole year was 440823 billion yuan, of which the retail sales of household building materials was about 363.4 billion yuan, a significant increase over 2020. The reporter interviewed people in the industry and learned that, affected by the epidemic and real estate regulation, consumers’ demand for home building materials appears the phenomenon of “delayed consumption”, but the market demand still exists and is relatively strong.
The abandonment of new shares is not zero cost, and investors urgently need to adjust the idea of “innovation”
In a word, “playing new” is not a win-win business. The final income still depends on the value and price of the stock. Before “innovation”, we should have a full understanding and cognition of listed enterprises and rationally participate in the subscription of new shares. For new shares that are not optimistic, you can choose not to participate. You can’t “close your eyes and make a new” and then “default and abandon the purchase”, which will not only affect your new qualification, but also have a negative impact on the order of new share issuance.
Many places raise pipeline gas prices, import costs are high, and gas prices are strong or continue
Recently, some parts of China have raised the prices of residential and non residential natural gas in accordance with the local actual situation and in combination with the upstream and downstream linkage mechanism of natural gas. Industry insiders believe that the upward trend of gas price is mainly affected by the tightening of supply outside China. While the production and manufacturing costs of downstream enterprises are facing an increase, the market-oriented reform of China’s gas price has also been promoted. Under the background that it is difficult for the supply side to increase in the short term, the annual gas price may maintain a strong pattern
Securities Daily
In the first quarter, the electricity consumption of the whole society increased by 5% year-on-year, the economy continued to recover steadily, and the momentum and quality of development continued to improve
As a “barometer” of economic operation, the power consumption of the whole society can perceive the operation status of the economy and the changes of economic structure. On April 14, the data released by the national energy administration showed that the power consumption of the whole society increased by 5% year-on-year in the first quarter, reflecting the good situation of economic and social development and the continuous improvement of development momentum and quality.
In the first quarter, foreign investment increased by 25.6% year-on-year, and investment in high-tech industries increased brightly
Data show that in the first quarter, the actual use of foreign capital in China was 379.87 billion yuan, a year-on-year increase of 25.6%. Shu jueteng said that in the first quarter, China’s absorption of foreign capital mainly showed the following characteristics: first, the absorption of foreign capital achieved double-digit growth; Second, investment in high-tech industries increased rapidly.
Central bank: timely use monetary policy tools such as RRR reduction to further strengthen financial support for the real economy
On April 14, the people’s Bank of China held a press conference on financial statistics for the first quarter of 2022. Ruan Jianhong, director of the investigation and Statistics Department and spokesman of the people’s Bank of China, said at the meeting that in the first quarter of this year, the liquidity was reasonable and abundant, the total financial volume increased steadily, the credit structure was optimized, the comprehensive financing cost of enterprises decreased steadily, and the quality and efficiency of financial services to the real economy continued to improve.
Large state-owned banks have room to deposit and reduce the provision coverage, and the funds released can accurately drip the real economy
The reporter noted that with the rapid growth of the profits of large state-owned banks last year, the provision coverage rate of large state-owned banks rose in 2021 in order to “store grain in a bumper year”. This also provides operational space for large banks to take the initiative to reduce the provision coverage in the future, and creates the possibility to strengthen the ability of credit extension
21st Century Business Herald
How did the second kill financial management realize the 6.7% income of pension personal account last year?
The reason why social security funds, including basic endowment insurance funds, can achieve relatively high investment returns is closely related to the nature of funds and management methods. These funds have no capital cost and low liquidity requirements. They face relatively little social and market pressure in terms of investment performance and information disclosure, and can tolerate income fluctuations in some years. Therefore, they can better adhere to long-term investment and value investment, so as to obtain high income.
The output value of Beidou service link is nearly 200 billion yuan, and the number of social terminals exceeds 1 billion
Recently, the relevant person in charge of the high technology department of the national development and Reform Commission revealed that in terms of product manufacturing, the total social ownership of end products with Beidou positioning function had exceeded 1 billion units / set by the end of 2021. In addition, the auto drive system based on Beidou system has more than 100 thousand sets of automatic driving systems, and the output value of downstream operation services such as medical health, epidemic prevention, remote monitoring and online services is nearly 200 billion yuan.
first finance
Nanjing plans to relax the supervision of pre-sale funds, with a desirable proportion of up to 60%
On April 14, the first financial reporter confirmed from multiple channels that recently, Nanjing housing security and real estate bureau and Nanjing Branch of the people’s Bank of China jointly issued the notice on the pilot use of bank guarantee for the supervision of commercial housing pre-sale funds, which relaxed the access to pre-sale funds to a certain extent.
Offline new violations were blacklisted, involving five institutions such as chaos Tiancheng
On April 14, the China Securities Association announced that in the offline subscription process of new share issuance such as science and technology innovation board Jingke energy and gem softcom power, there are stock placement targets in violation of Article 20 of the rules for the administration of offline investors of initial public offering under the registration system, which will be included in the restricted list. According to the two lists announced, a total of 10 placing objects were blacklisted (one fund was listed twice), involving 5 institutions
economic reference
Stabilizing the chain, consolidating the cost and improving the quality, and enhancing the core competitiveness of the manufacturing industry
Manufacturing is the “ballast stone” of the economy of a large country. China’s manufacturing industry also undertakes the important task of changing from big to strong and breaking the situation. At present, affected by multiple factors outside China, the operation of industrial economy is facing difficulties such as poor logistics cycle, increased supply chain blocking points and high commodity prices. It is urgent to enhance the core competitiveness of the manufacturing industry, especially in stabilizing the chain, consolidating the capital and improving the quality.
Stability is at the head of the monetary policy. Multiple arrows are fired at the same time. The RRR reduction is imminent. Two new special refinancing projects will be implemented as soon as possible
We will increase support for the real economy, have sufficient monetary policy tools, and respond more proactively. At the press conference on financial statistics for the first quarter of 2022 held by the people’s Bank of China on April 14, several heads of relevant departments of the people’s Bank of China explained in detail the direction of monetary policy in the next step: timely use of reserve requirement reduction and other monetary policy tools; Promote the implementation of the two policy tools of scientific and technological innovation refinancing and inclusive pension special refinancing as soon as possible; The 400 billion yuan refinancing line originally used to support Pratt Whitney small and micro enterprise credit loans can be further increased if necessary.
