April 22nd (Friday), the essence of today’s headlines is:
China Securities Journal
When the CSRC holds a symposium, the institution shall further expand the proportion of equity investment
On April 21, Yi Huiman, chairman of the CSRC, held a symposium for the main principals of the national social security fund and some large banking and insurance institutions. The meeting proposed that pension, banking and insurance institutions and various asset management institutions should further expand the proportion of equity investment. Insiders said that this move is conducive to boosting the confidence of market participants, maintaining market stability, and is expected to guide more medium – and long-term funds into the market.
Positive factors converge at the bottom of a shares, corresponding to big opportunities
Recently, the A-share market continued to adjust. On April 21, the three major A-share indexes fell by more than 2%. Institutional sources believe that due to the impact of the epidemic plus the rise of US bond interest rates and other internal and external factors, the A-share market has been adjusted recently. However, in the short-term shock of the current round of market, there are also many positive signals, such as the positive entry of northward funds into the market and the relevant departments encouraging long-term funds to increase the proportion of equity investment. The short-term pessimism of some investors does not affect the investment value of a shares, and all parties in the market should have hope for the future market.
The opinions of the general office of the State Council on promoting the development of individual pensions was published by the CSRC: optimizing the market environment for medium and long-term funds
The opinions of the general office of the State Council on promoting the development of individual pensions was published on April 21. The CSRC said on the same day that in the next step, it will speed up the formulation and introduction of supporting rules and systems for individual pension investment in public funds, improve the construction of infrastructure platform and optimize the market environment for medium and long-term funds; Continue to strengthen the supervision of institutions and employees, improve the management ability and standardized operation level of managers, strengthen investor protection, ensure the safety and standardization of pension investment and operation, and promote the high-quality development of individual pensions.
Fang Xinghai: the net inflow of foreign capital this year will be considerable
On April 21, Fang Xinghai, vice chairman of China Securities Regulatory Commission, said at the sub forum of “China’s capital market opening up” at the 2022 annual meeting of Boao Forum for Asia that the net inflow of foreign capital this year will be considerable; The Sino US regulatory cooperation negotiations are progressing very smoothly
Shanghai Securities News
The personal pension system is coming! The maximum annual payment is 12000 yuan
Recently, the general office of the State Council issued the opinions on promoting the development of individual pensions. The opinions clearly states that workers who participate in the basic old-age insurance for urban employees or the basic old-age insurance for urban and rural residents within China can participate in the individual pension system. The upper limit of individual pension paid by participants is 12000 yuan per year.
The CSRC held a symposium for institutional investors and proposed to enhance investment capacity and expand the proportion of equity investment
Yi Huiman, chairman of the CSRC, held a symposium on the main principals of the national social security fund and some large banking and insurance institutions on April 21. The meeting proposed that pension, banking and insurance institutions and various asset management institutions are the representatives of professional institutions among investors and the most important long-term capital source in the capital market. All institutions should take the improvement of investment management ability, especially equity investment ability, as the core competitiveness, actively expand the breadth and depth of participation in the capital market, promote the implementation of long-term assessment, and improve the proportion of equity investment.
The futures and derivatives law fills the gap in the construction of the rule of law, escorts the development of the market and promotes two-way opening-up
The futures and derivatives law of the people’s Republic of China will be implemented from August this year. Insiders believe that the introduction of the futures and derivatives law has effectively filled the gap in the construction of the rule of law in the capital market. So far, the construction of the “four beams and eight pillars” of the rule of law system in the capital market has been basically completed. The introduction of the futures and derivatives law has also created favorable conditions for the two-way opening of China’s futures and derivatives market and the establishment of an international pricing center.
Senior financial regulators talk about the opening of China’s capital market, and foreign investors have long-term and lasting confidence in the Chinese market
“Difficulties and hopes coexist”, “fluctuations are inevitable, but the fundamentals of long-term improvement will not change”, “we should see both short-term challenges and long-term trends”… On April 21, at the sub forum of “China’s capital market opening” at the 2022 annual meeting of Boao Forum for Asia, senior regulators at the meeting described their current feelings about the financial market
securities times
The CSRC held a symposium for institutional investors to make full use of the amount of equity investment and improve the level of long-term income
Yesterday, Yi Huiman, chairman of the China Securities Regulatory Commission, held a symposium for the main principals of the national social security fund and some large banking and insurance institutions. Cao Yu, vice chairman of the China Banking and Insurance Regulatory Commission, and Li Chao, vice chairman of the China Securities Regulatory Commission, attended the meeting. The meeting analyzed the current economic and financial situation at home and abroad, and listened to opinions and suggestions on promoting the high-quality development of the capital market and guiding more medium and long-term funds into the market. The meeting called for giving full play to the advantages that long-term funds can overcome short-term market fluctuations, making good use of the amount of equity investment, further expanding the proportion of equity investment and improving the level of long-term income.
Short term savings turned into long-term assets, and the capital market ushered in “long money”
On April 21, the general office of the State Council issued the opinions on promoting the development of individual pensions. According to the calculation of research institutions, after the establishment of the individual pension system, the funds collected each year can reach hundreds of billions of yuan, bringing a considerable amount of “long money” to the capital market.
Yi Huiman: improve the legal system of futures market and derivatives market as soon as possible
Yi Huiman, chairman of the CSRC, recently accepted an exclusive interview with Xinhua News Agency on the introduction and implementation of the futures and derivatives law. Yi Huiman said that the CSRC will pay close attention to the “establishment, reform, abolition and interpretation” of regulations and normative documents in accordance with the provisions of the futures and derivatives law, improve the legal system of the futures market and derivatives market as soon as possible, and improve the development and supervision level of the futures market and derivatives market.
Fang Xinghai: the IPO pricing power needs to be further improved. Many detailed rules of the futures and derivatives law will be implemented one by one in the next three months
On April 21, at the sub forum of “China’s capital market opening in progress” of the 2022 annual meeting of Boao Forum for Asia, Fang Xinghai, vice chairman of China Securities Regulatory Commission, said that the reason why many corporate IPOs have fallen below the issuance price recently is not that there are too many IPOs, but that the IPO pricing ability needs to be further improved. China will continue to open to the outside world at a high level. At present, the negotiation on China US audit supervision cooperation is progressing smoothly. It is believed that a cooperation agreement will be reached in the near future
Securities Daily
The CSRC calls on institutional investors to increase the proportion of equity investment. Four types of long-term incremental funds such as social security funds and public funds can be expected to enter the market
On April 21, Yi Huiman, chairman of China Securities Regulatory Commission, held a symposium for the main principals of the national social security fund and some large banking and insurance institutions. Cao Yu, vice chairman of China Banking and Insurance Regulatory Commission, and Li Chao, vice chairman of China Securities Regulatory Commission, attended the meeting. The meeting analyzed the current economic and financial situation at home and abroad, and listened to opinions and suggestions on promoting the high-quality development of the capital market and guiding more medium and long-term funds into the market.
There are new sources of long-term funds for the implementation of the individual pension system
On April 21, the opinions on promoting the development of individual pension was released, which put forward relevant opinions from the aspects of system model, participation scope, payment level, tax policy and individual pension investment, and established the basic institutional framework of China’s third pillar pension insurance.
Yi Gang, governor of the people’s Bank of China: flexibly use a variety of monetary policy tools to increase support for the real economy
On the evening of April 20, Indonesia, the chairman of the group of 20 (G20), presided over the second G20 finance ministers’ and central bank governors’ meeting this year in Washington in the form of Wuxi Online Offline Communication Information Technology Co.Ltd(300959) combination. Yi Gang introduced China’s economic and financial situation, saying that China’s prudent monetary policy is flexible and appropriate, and the policy force is appropriately advanced to support the development of the real economy. The people’s Bank of China will flexibly use a variety of monetary policy tools, give full play to the dual functions of the total amount and structure of monetary policy tools, and increase its support for the real economy.
China’s foreign investment increased by 5.6% year-on-year in the first quarter and is expected to maintain an upward trend in the second quarter
On April 21, Gao Feng, spokesman of the Ministry of Commerce, introduced the relevant situation of China’s foreign investment and cooperation in the first quarter of 2022 at a regular press conference. In the first quarter of 2022, China’s foreign direct investment in the whole industry was 217.76 billion yuan, a year-on-year increase of 5.6% (equivalent to US $34.29 billion, a year-on-year increase of 7.9%)
people’s daily
China’s economy is resilient and its fundamentals have been improving for a long time
In the first quarter, the economy “opened the door steadily”, which once again proved that “the fundamentals of China’s strong economic toughness, sufficient potential and long-term improvement have not changed”. We should still unswervingly do our own things and constantly strengthen the economic foundation. At present, a stable industrial chain, supply chain, large-scale Chinese market and strong domestic demand potential, and scientific and technological innovation with great advantages and potential jointly support the strong resilience of China’s economy and build our confidence
21st Century Business Herald
The valuation is reasonable, and the return to the curtain opens. The two-way fluctuation trend of RMB exchange rate is stable
In the face of the strong rise of the US dollar, the RMB exchange rate callback. Although this week’s short selling of the RMB exchange rate did not set off a rapid wave of speculation, it is worth noting that the foreign exchange market did not start this week. In the view of insiders, the correction of RMB exchange rate this week also indicates that the RMB returns to a two-way fluctuation trend.
Commercial capital should be encouraged to actively invest in service consumption to meet the demand for consumption upgrading
On April 21, the Ministry of Commerce said that the total retail sales of social consumer goods in the first quarter was 10.9 trillion yuan, an increase of 3.3% year-on-year; The contribution rate of final consumption expenditure to economic growth reached 69.4%, which is still the first driving force of China’s economic growth. On the whole, the fundamentals of China’s long-term economic improvement have not changed, and the characteristics of the consumer market with great potential and strong resilience have not changed Financial first
Institutions talk about personal pension: short-term stock market boost limited long-term incremental funds can be expected
On April 21, the general office of the State Council issued the opinions of the general office of the State Council on promoting the development of individual pension. Some fund managers predicted that the implementation of the individual pension system could bring 18 ~ 20 trillion yuan of incremental funds to the pension market. However, some professionals suggest that in the short term, the current incremental capital boost of the opinions to individual pension accounts and the stock market is limited.
The CSRC raised four requirements for institutional capacity-building, and the industry said that there was “large space” for institutional funds to enter the market
“Pension, banking and insurance institutions and various asset management institutions are the representatives of professional institutions among investors and the most important long-term capital source in the capital market.” The CSRC pointed out on April 21. Insiders pointed out that there is still a large space for institutional funds to invest in the capital market. For example, there is still room for the actual allocation proportion of insurance funds to equity assets in the capital market and the policy upper limit
economic reference
The major reform of social security has made rapid steps to stabilize the implementation of the individual pension system
On April 21, the general office of the State Council issued the opinions on promoting the development of individual pensions. The industry pointed out that as one of the major social security reforms, accelerating the development of multi-level and multi pillar old-age insurance system will further strengthen the old-age security network. In the next step, we should improve the relevant supporting policies of the individual pension system, clarify the detailed rules of tax preference, and launch the catalogue of qualified pension products, so as to further enhance the incentive and attraction of the system.
Ministry of Commerce: take multiple measures to promote the sustained recovery of consumption
On April 21, Gao Feng, a spokesman for the Ministry of Commerce, said at the press conference that in order to consolidate the fundamental role of consumption in economic development, the Ministry of Commerce will work with local competent commercial departments to comprehensively promote epidemic prevention and control and consumption promotion, promote the introduction of targeted consumption promotion measures and take multiple measures to promote the sustainable recovery of consumption on the basis of implementing various policies and measures already issued and in combination with the specific situation of local epidemic prevention. Among them, improving the energy level of traditional consumption, accelerating the development of new consumption and optimizing the carrier of consumption platform will become the focus.
