On Tuesday, April 26, the essence of the headlines of today’s newspaper is as follows:
china Securities Journal
Fund managers are full of confidence in A-Shares and long-term funds are waiting for opportunities
A number of fund managers told China Securities Journal that they are full of confidence in a shares. The market is not far from the medium-term bottom, and the risk return ratio is becoming increasingly prominent. For the layout direction, fund managers prefer the main line of steady growth represented by real estate and banks and the main line of consumption represented by Baijiu and pork.
The general office of the State Council issued a document on 20 measures to promote the sustained recovery of consumption
The general office of the State Council recently issued the “opinions on further releasing consumption potential and promoting the sustained recovery of consumption”. Experts said that the opinions put forward practical and effective measures to help deal with the impact of the epidemic and promote the orderly recovery of consumption. With the effective control of the epidemic and the gradual emergence of policy effects, the normal economic order will be restored rapidly, and the long-term fundamentals of China’s consumption have not changed.
The central bank lowered the foreign exchange reserve ratio to stabilize the short-term fluctuation of the RMB exchange rate
On April 25, the people’s Bank of China decided to reduce the foreign exchange deposit reserve ratio of financial institutions by 1 percentage point from May 15, 2022, that is, the foreign exchange deposit reserve ratio was reduced from the current 9% to 8%, so as to improve the utilization capacity of foreign exchange funds of financial institutions.
Perspective on the “Dialectics” of double overall planning of Shenzhen Stock Exchange
On the one hand, the epidemic prevention and control that cannot be relaxed for a moment, and on the other hand, the economic development that faces greater challenges. Since the outbreak of this round of epidemic, the Shenzhen Stock Exchange has coordinated, acted quickly, cooperated and linked, gave full play to the function of the exchange as a market organizer, regulator and service provider, focused on helping market players overcome difficulties, made every effort to maintain the smooth operation of the capital market, supported the epidemic prevention and control with practical actions, and dialectically helped to achieve “double overall planning”
Shanghai Securities News
Positive market factors should not be ignored
Disturbed by pessimism, the A-share market fell sharply yesterday, and the Shanghai index, as an important “psychological gateway”, broke 3000 points. When the market is shrouded in the fog of pessimism and panic and some investors don’t know where to go, the research institutions suggest a set of “road signs”, that is, we should look for “high probability” positive factors from the medium-term perspective: the improvement of the epidemic situation is the first high probability event, the steady growth will be overweight is also a probability event, and the current market probability is at the bottom of the medium-term range… Institutions generally believe that, With the growth and decline of negative and positive factors, the stock market will gradually stabilize and return to track.
The central bank lowered the foreign exchange reserve ratio for the first time
After the continuous and rapid decline of the RMB, the signal of stabilizing the exchange rate appeared. On April 25, the people’s Bank of China announced that in order to improve the ability of financial institutions to use foreign exchange funds, it decided to reduce the foreign exchange deposit reserve ratio of financial institutions by 1 percentage point from May 15, 2022, that is, the foreign exchange deposit reserve ratio from the current 9% to 8%.
China Securities Regulatory Commission and China Banking and Insurance Regulatory Commission: speed up the introduction of systems and rules to promote the development of individual pensions
The Information Office of the State Council held a regular briefing on the State Council’s policies on promoting the development of individual pensions yesterday. Lin Xiaozheng, deputy director of the securities fund institution Supervision Department of the CSRC, and Wang Honghe, a second-class inspector of the life insurance supervision department of the CBRC, introduced the work arrangements of the regulatory authorities for the implementation of the individual pension system in the next stage.
The Shanghai stock index fell 3000 points, and institutions said the index had entered the value range
On April 25, the three major A-share indexes fell sharply, with a decline of more than 5% at the close. Among them, the Shanghai index fell below the integer mark of 3000 points, setting a new low since July 2020
Securities Times
At the fifth anti-corruption work conference of the State Council, Li Keqiang stressed to stabilize employment, prices and supply, and effectively stabilize the basic economic market
On April 25, the State Council held the fifth anti-corruption work conference. Li Keqiang, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Premier of the State Council, delivered an important speech, emphasizing the need to deeply study and implement the spirit of the important speech made by Xi Jinping general Secretary at the Sixth Plenary Session of the 19th Central Commission for Discipline Inspection, and continuously promote the construction of a clean government and the anti-corruption work of the government system in accordance with the deployment requirements of the Sixth Plenary Session of the Central Commission for Discipline Inspection and the government work report.
The central bank plans to reduce the foreign exchange deposit reserve ratio of financial institutions to 8%
On April 25, the offshore RMB exchange rate against the US dollar fell below the 6.6 mark for the first time since November 2020, with a daily decline of more than 1%; The onshore RMB exchange rate fell as much as 900 points against the US dollar. However, the central bank also made a decisive move to stabilize the expectations of the foreign exchange market. The official website of the people’s Bank of China announced on the same day that the foreign exchange reserve ratio of financial institutions would be reduced by 1 percentage point from May 15, that is, the foreign exchange reserve ratio would be reduced from the current 9% to 8%.
The “squatting” index of A-share market is gradually entering the value range
On the same day, the market “squatting” was comprehensively affected by many factors, but in addition to the adjustment, some positive factors also began to emerge. For example, some institutions believe that the market valuation adjustment may be close to the limit, and the more important thing in the future is the profit expectation. With the sharp adjustment of the market, the indexes gradually enter the value range, and investors should not be overly pessimistic.
The mobile phone replacement cycle is extended to three years, and there are three paths for enterprises in the industrial chain to break through
After ten times of rapid growth from 2007 to 2017, the mobile phone industry has experienced sluggish growth in recent years and the overall market has shrunk forward. Now the mobile phone industry has fully entered the era of stock market. Industry leaders generally predict that the decline of the industry this year and the next two or three years is a foregone conclusion. In addition, the mobile phone industry is also facing multiple challenges such as covid-19 epidemic, rising raw material prices and prolonging the replacement cycle of consumers. Under this background, the industrial chain is under collective pressure, and three breakthrough paths for enterprises have quietly emerged
Securities Daily
25 public offerings on the development of a shares: strengthening confidence in steady growth and strengthening the driving force of value investment
Despite the concentrated release of negative factors and the collective decline of the three major A-share indexes, the confidence of public offering for the healthy development of the market has not changed. On April 25, according to the current market performance, the reporter of Securities Daily connected Dongfanghong asset management, Shanghai Investment Morgan fund, Zhongrong fund, xingyin fund, Xingye fund, shenwanlingxin fund, Taixin fund, Pengyang fund, China Europe Fund, Harvest Fund, CAITONG fund, Yinhua Fund, CITIC Prudential fund, Xingzheng Global Fund, Nanfang fund, huitianfu fund, Morgan Stanley Huaxin Fund, Boshi fund There are 25 public fund companies (in no order) including Shanghai Pudong Bank AXA fund, Huatai Bairui fund, ChuangJin Hexin fund, Huaxia Fund, Haifutong fund, Hang Seng Qianhai fund and Tianhong fund.
After the market plummeted, please look at these three fundamentals “hard information”
On April 25, the comprehensive RRR reduction was officially implemented! The RRR reduction released a total of about 530 billion yuan of long-term funds. When the benefits were realized, the sharp decline in the A-share market was a bit unexpected.
Four departments interpret the individual pension system. Experts say long-term benefits can be expected
On April 25, the relevant heads of the Ministry of human resources and social security, the Ministry of finance, the China Banking and Insurance Regulatory Commission and the China Securities Regulatory Commission introduced the relevant information of the opinions of the general office of the State Council on promoting the development of individual pensions (hereinafter referred to as the opinions) at the regular policy briefing of the State Council.
20 measures were introduced in due time to promote the recovery and stability of consumption
On April 25, the general office of the State Council issued the opinions on further releasing consumption potential and promoting sustainable recovery of consumption (hereinafter referred to as the opinions), which put forward 20 measures in five aspects to comprehensively implement policies to release consumption potential and promote sustainable recovery of consumption
people’s daily
The fifth anniversary of the establishment of Chengdu pilot Free Trade Zone, institutional innovation to stimulate the vitality of open economy
In the past five years since its establishment, Chengdu pilot free trade zone has made continuous efforts in expanding opening to the outside world and promoting the free flow of factors, and achieved a series of innovative achievements. By innovating the foreign trade system, improving the level of trade facilitation and optimizing the business environment, the market main body of Chengdu pilot free trade zone has been continuously strengthened, which has helped to promote high-quality economic development
first finance
In the first quarter, the profit of steel enterprises decreased by 25.8%, and the merger and reorganization of the steel industry accelerated
In the first quarter of this year, the revenue and profit of China’s steel industry decreased due to supply constraints, shrinking demand, rising costs and other factors. On April 25, China Iron and Steel Industry Association held an information conference for the first quarter of 2022. The data showed that the operating revenue of iron and steel enterprises of China Iron and Steel Association members in the first quarter was 1499.3 billion yuan, a year-on-year decrease of 3.26%; The total profit was 55.3 billion yuan, a year-on-year decrease of 25.8%.
GDP of 27 provinces in the first quarter: Jiangxi leads the growth rate, and major energy provinces continue to recover
As of press time, except for Liaoning, Jilin, Xinjiang and Tibet, other provinces have released economic data for the first quarter of this year. Jiangxi, Hubei, Fujian and Guizhou ranked among the top four in China’s economic growth with 6.9%, 6.7%, 6.7% and 6.6% respectively
economic reference
The continuous correction of RMB exchange rate has attracted market attention, and the central bank is expected to stabilize the RMB exchange rate for a long time
The RMB exchange rate has been corrected for days. According to the data released by China foreign exchange trading center on April 25, the central parity rate of RMB was reported at 6.4909, down 313 basis points from the previous trading day. On the evening of the same day, the people’s Bank of China announced that from May 15, the foreign exchange deposit reserve ratio of financial institutions would be reduced by 1 percentage point, that is, the foreign exchange deposit reserve ratio would be reduced from the current 9% to 8%, releasing a strong signal of expectations for stabilizing the exchange rate.
Involving 1 billion people, four authorities explain the individual pension system in detail
The general office of the State Council recently issued the “opinions on promoting the development of individual pensions”. Workers who participate in the basic old-age insurance for urban workers or urban and rural residents within the territory of China may participate in the individual pension system. What is the significance of an individual pension system involving 1 billion people? What benefits will participants have? How to maintain and increase value through investment? At the regular policy briefing of the State Council held on the 25th, the relevant heads of the Ministry of human resources and social security, the Ministry of finance, the China Banking and Insurance Regulatory Commission and the China Securities Regulatory Commission gave a detailed interpretation of the hot spots of market concern.
