April 21st (Thursday), the essence of today’s headlines is:
China Securities Journal
The executive meeting of the State Council called for the determination of measures to ensure and increase supply and improve the ability of energy to guarantee economic and social development
Premier Li Keqiang chaired an executive meeting of the State Council on April 20 to deploy measures to further improve agricultural production in spring to ensure a bumper harvest of grain and a stable supply of important Shenzhen Agricultural Products Group Co.Ltd(000061) crops; Determine measures to ensure and increase energy supply, and improve the guarantee capacity of energy for economic and social development.
The futures and derivatives law will come into force on August 1. CSRC: formulate and revise the supporting rules and regulations of the futures law
The law of the people’s Republic of China on futures and derivatives was adopted at the 34th meeting of the Standing Committee of the 13th National People’s Congress on April 20, Xinhua reported. This law will come into force on August 1, 2022.
International ESG disclosure standards are expected to be released at the end of the year, and it is a consensus to strengthen ESG information disclosure
Fang Xinghai, vice chairman of the CSRC, said at the sub forum of the Boao Forum for Asia 2022 annual meeting on April 20 that the International Council for sustainable development standards (issb) plans to issue a set of environmental, social and corporate governance (ESG) disclosure standards by the end of this year, and has solicited opinions internationally. The standard will have a very important impact on the company’s operation and will also have a great impact on Chinese companies.
The inventory is close to the historical low, and the risk of overseas metal position squeeze is controllable
Lunni’s position pressing event shocked the global financial market. Recently, with the inventory of various metals falling to an all-time low, some people believe that relevant varieties will face the risk of short selling. In this context, the reporter of China Securities Journal interviewed a number of insiders to understand the current metal market inventory, trading position, premium increase and other situations. Insiders said that at present, the necessary conditions for closing positions are not available, and the overseas metal futures position squeeze is still expected, but the risk of closing positions is small
Shanghai Securities News
China has a “basic law” in the field of futures and derivatives
The “basic law” of futures and derivatives was officially released. The law of the people’s Republic of China on futures and derivatives (hereinafter referred to as the “futures and derivatives law”) was adopted at the 34th meeting of the Standing Committee of the 13th National People’s Congress on the 20th, Xinhua reported. The law will come into force on August 1, 2022.
The individual pension system is expected to be implemented, with an annual ceiling of 12000 yuan per person
Shanghai Securities News reporter learned from the industry yesterday that the personal pension related system that has attracted much attention is expected to be implemented in the near future. This indicates that the era of “individual pension”, characterized by government policy support, individual voluntary participation and market-oriented operation, which is connected with basic endowment insurance and enterprise (occupational) annuity, is about to open, which is a milestone for improving the multi-level and multi pillar endowment insurance system.
Two overseas asset management giants are bullish on a shares
Overseas asset management giants have not slowed down the pace of layout in China. On April 20, Fidelity International announced the appointment of Huang Xiaoyi, the former general manager of Huabao fund, as the managing director of China to manage Fidelity’s asset management business in China. Huang Xiaoyi’s joining is an important step for Fidelity Fund to effectively promote the localization of international business strategy.
HK $100 billion southward capital inflows, Hong Kong stock allocation style changed
Since this year, southbound funds have maintained an inflow trend. As of April 20, southbound funds had inflow of HK $104147 billion and continued to “recharge” Hong Kong stocks
Securities Times
The futures and derivatives law will come into force on August 1
Yesterday, the 34th meeting of the Standing Committee of the 13th National People’s Congress voted to pass the futures and derivatives law of the people’s Republic of China (hereinafter referred to as the “Futures Law”), which will come into force on August 1, 2022. The CSRC said it would fully understand and master the relevant systems and measures stipulated in the futures law, accelerate the formulation, revision and improvement of supporting rules and regulations, improve the basic system of the futures market, strictly implement the provisions after the formulation of the law, constantly improve the level of supervision and law enforcement, actively and steadily promote the construction of the futures market and better serve the high-quality development of the real economy.
Fang Xinghai: the introduction of ESG international standards will bring new challenges to global enterprises
On April 20, Fang Xinghai, vice chairman of China Securities Regulatory Commission, talked about environmental, social and Governance (ESG) investment, information phi and how Chinese enterprises deal with the upcoming ESG international standards when attending the sub forum “building an ESG for sustainable development” of the 2022 annual meeting of Boao Forum for Asia.
Zhou Xiaochuan: China’s carbon market incentive mechanism optimization
On April 20, Zhou Xiaochuan, vice president of the Boao Forum for Asia, chief representative of China and President of the China Institute of finance, said at the sub forum of “achieving carbon neutrality: Government in action” of the Boao Forum for Asia 2022 annual meeting that next, China needs to optimize the carbon market incentive mechanism, and the direction of the optimization mechanism should be from spot to forward market, including futures, options, etc, The goal of incentive mechanism in the medium and long term is to guide investment.
Both volume and price fall, and the cement industry is not prosperous in the peak season. The cement industry may meet the inflection point in the second quarter
High cost, weak demand and poor transportation caused by superimposed regional epidemic factors have made the cement industry with record high profitability in previous years no longer beautiful
Securities Daily
China Banking and Insurance Regulatory Commission and Ministry of transport: provide financial support for building a transportation power from six aspects
On April 20, the China Banking and Insurance Regulatory Commission and the Ministry of transport jointly issued the opinions on the banking and insurance industry supporting the high-quality development of highway transportation (hereinafter referred to as the opinions).
The futures law will play three major roles
On April 20, the 34th meeting of the Standing Committee of the 13th National People’s Congress voted and adopted the futures and derivatives law of the people’s Republic of China (hereinafter referred to as the Futures Law), which will come into force on August 1, 2022. This law comprehensively and systematically stipulates the basic systems of the futures market and derivatives market, fills the legal gaps in relevant fields, and will play an important role in building a futures and derivatives market matching China’s economic status, ensuring the healthy and stable operation of the market, preventing and resolving financial risks, and improving international competitiveness.
LPR remained flat for three consecutive months, but there is room for bank loan interest rates to fall
On April 20, the latest loan market quotation rate (LPR) was released. According to the announcement of the national interbank lending center authorized by the people’s Bank of China (hereinafter referred to as the “central bank”), on April 20, 2022, the LPR of one-year term is 3.7%, and the LPR of more than five years is 4.6%. The LPR of the two varieties is the same as that of the previous month. As of this quotation, the LPR has remained unchanged for three consecutive months.
The fiscal revenue in the first quarter was generally stable, and the stamp duty on securities transactions increased by 21% year-on-year
On April 20, the Ministry of Finance released data showing that in the first quarter, the national general public budget revenue was 6203.7 billion yuan, an increase of 8.6% year-on-year.
Among them, the stamp duty on securities transactions was 106.7 billion yuan, a year-on-year increase of 21.3%
people’s daily
More effectively support the development of the real economy
The overall operation of China’s economy is within a reasonable range and has strong resilience. There is a solid foundation for ensuring the supply and price stability of important livelihood commodities. China’s grain production and energy supply are generally stable. We have every reason to strengthen our confidence in development
21st Century Business Herald
National standing committee meeting: all localities should strictly implement the responsibility of food security and do a good job in supporting the purchase of food in time
On April 20, the executive meeting of the State Council was held. The meeting pointed out that China’s food supply and reserves are sufficient. This year’s spring sowing has been carried out steadily, and food security is guaranteed. We should implement the deployment of the Party Central Committee and the State Council, pay close attention to agricultural production in spring and ensure a bumper grain harvest.
Who relies on stock speculation to win and who is deeply cultivating wealth?
On the whole, the Shanghai and Shenzhen stock exchanges were active in 2021, leading to excellent performance of securities companies, and the performance of many companies rose again. However, some securities analysts believe that, compared with overseas securities companies, the income structure of Chinese securities companies is still dominated by traditional businesses such as brokerage and proprietary business, and there is still a big gap between roe and overseas banks
first finance
Personal pension is ready to come out, and the market is actively arranged to meet the third pillar of endowment insurance
The Party group of the Ministry of human resources and social security recently published an article in Qiushi magazine, saying that it should actively and steadily promote the major reform of the social security system under the guidance of system construction. “Accelerating the development of multi-level and multi pillar old-age insurance system” is listed as one of the major social security reforms. The Ministry of human resources and social security said that the establishment and development of an individual pension system suitable for China’s national conditions, policy support, individual voluntary and market-oriented operation, so as to effectively supplement the basic pension insurance and better meet the diversified needs of the people.
The output value of China’s UAV industry is expected to exceed 100 billion, and the low altitude economy is ready to fly
2022 the 6th World UAV conference and the 7th Shenzhen International UAV exhibition will be held in Shenzhen, the capital of UAVs, from July 1 to 3. Yang Jincai said at the press conference of the exhibition that under the condition of low altitude opening and continuous improvement of laws and regulations, the development trend of UAV industry is vigorous
economic reference
The construction of financial support innovation system will be accelerated
The fifth meeting of the Central Committee on deepening the reform of the financial system was held on the 14th and supported the improvement of the financial system. The meeting stressed that “accelerating the construction of financial support innovation system”, “promoting the construction of scientific and technological credit service capacity”, “improving the direct financing function of multi-level capital market” and “coordinating finance to support scientific and technological innovation and prevent financial risks”.
Advance to stabilize the market and increase financial resources to benefit enterprises and the people
On the 20th, the first quarterly report of fiscal revenue and expenditure was released. In the first quarter, the national general public budget revenue was 6203.7 billion yuan, a year-on-year increase of 8.6%, and the operation of fiscal revenue was generally stable. The national general public budget expenditure was 6358.7 billion yuan, a year-on-year increase of 8.3%, 0.3 percentage points faster than the same period last year, and the expenditure in key areas such as people’s livelihood was effectively guaranteed. At the same time, more than 20 tax support policies have been issued since the beginning of the year. By the end of March, 1.25 trillion yuan of special bonds had been issued, accounting for 86% of the amount issued in advance, an increase of 1.23 trillion yuan over last year.
