Li Keqiang presided over the Symposium on stabilizing growth, stabilizing market players and ensuring employment
On May 18, 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 on stabilizing growth, stabilizing market players and ensuring employment in Yunnan. It was mentioned that since the beginning of this year, under the strong leadership of the Party Central Committee with Comrade Xi Jinping as the core, all parties have implemented the deployment of the Party Central Committee and the State Council and done a lot of work to stabilize the economy. The results have not come easily. However, since March, especially in April, some economic indicators have weakened significantly, and the downward pressure on the economy has further increased. We should not only strengthen our confidence and see that there are still more than 150 million market players in China. At present, prices are stable and there is still policy space to deal with challenges, but also face up to difficulties and shocks. We should fully, accurately and comprehensively implement the new development concept, effectively coordinate epidemic prevention and control and economic and social development, act decisively and increase macro policy adjustment. We should use reform to solve the difficulties in moving forward. Give priority to employment, ensure employment and people's livelihood by stabilizing market players, implement combined relief policies such as tax rebate and tax reduction, and guide financial institutions to delay the payment of interest on loans to small, medium-sized and micro enterprises and individual industrial and commercial households. Ensure stable food production and stable energy supply. While doing a good job in epidemic prevention and control, we will further unblock the logistics artery and microcirculation. Enhance the core competitiveness of state-owned enterprises and enhance the confidence of private enterprises with effective measures. Support platform economy and digital economy to legally comply with domestic and foreign listing and financing. Stabilize land prices and house prices, support residents' reasonable housing needs, and maintain the steady and healthy development of the real estate market.
Overall, the meeting mainly mentioned stabilizing employment, stabilizing market players and ensuring people's livelihood. In addition, mention again the support of platform economy, digital economy and overseas financing; In terms of real estate, it is mentioned that "stabilize land prices and house prices to support the steady development of the industry". The policies that have been issued should be put in place as soon as possible, and the policies determined by the central economic work conference and the government work report were basically implemented in the first half of the year; All localities and departments should enhance their sense of urgency, see that the new measures that are accurate can be exhausted, and can be released in May, so as to ensure that the economy operates within a reasonable range in the first half of the year and the whole year, and strive to make the economy return to the normal track quickly.
The financing balance decreased. On May 17, the balance of A-share financing was 1444986 billion yuan, down 401 million yuan month on month; The balance of margin trading was 1526763 billion yuan, a decrease of 157 million yuan month on month. The balance of financing minus securities lending was 1363209 billion yuan, a decrease of 645 million yuan month on month.
Net sales of funds to the north. On May 18, luchutong sold a net 2.277 billion yuan on the same day, including 34.6 billion yuan of purchase and 36.878 billion yuan of sale, with a cumulative net purchase of 1602722 billion yuan. Hong Kong stock connect had a net purchase transaction of HK $806 million on that day, including a purchase transaction of HK $12.498 billion and a sale transaction of HK $11.692 billion, with a cumulative net purchase transaction of HK $2324257 billion.
Money market interest rates fluctuated. On May 18, the weighted interest rate of pledged repo of deposit institutions was 1.3267% overnight, up 0.46bp and 1.5550% a week, up 2.93bp. The 10-year maturity yield of China national debt was 2.7801%, down 3.77bp.
U.S. stocks fell and European stocks fell. The Dow Jones Industrial Average fell by 90.57% to close at 31407 points on May 3; The S & P 500 index closed at 392368 points, down 4.04%; The NASDAQ index closed at 1141815 points, down 4.73%. European stock markets, French CAC index closed at 635294 points, down 1.20%; Germany's DAX index closed at 1400776 points, down 1.26%; The FTSE 100 index closed at 743809, down 1.07%. In the Asia Pacific market, the Nikkei index closed at 2811039 points, up 0.25%; The Hang Seng Index closed at 2064428, up 0.20%.
