A selection of financial news
Promoting the development of infrastructure public REITs, Xiao Gang put forward three proposals
2022 Tsinghua Wudaokou Global Financial Forum" was held in Beijing, a member of the National Committee of the Chinese People's Political Consultative Conference, Xiao Gang, former chairman of the Securities and Futures Commission, said at the forum that since the infrastructure public REITs officially listed and traded, the market has been running smoothly as a whole, and has achieved remarkable results, widely recognized by the market, and the demonstration effect of the pilot project is good. He said that it should be seen that, as China's public REITs are in the stage of expanding pilot projects, it is necessary to summarize the practical experience in depth and put forward three suggestions to promote its healthy development. First, study the revision of relevant laws or formulate separate regulations. Second, optimize the operation mechanism. Third, strengthen investor education.
Zhou Xiaochuan: China's digital yuan is designed for retail rather than replacing the dollar
Zhou Xiaochuan, president of the Chinese Institute of Finance and former governor of the People's Bank of China, said at the 2022 Tsinghua Wudaokou Global Finance Forum that digital currencies, or at least China's e-CNY, are designed For retail, for the convenience of the people, merchants, not to replace the dollar, so since it is not designed according to that goal, now suddenly give it to send this aspect of the function does not necessarily hold up. Of course, we do not rule out the possibility that e-CNY may have the prospect of cross-border payments in the future, but I estimate that it will also focus on retail, cross-border retail applications, not easily used as a military weapon.
China Manned Space Engineering Office: Shenzhou XIII manned flight mission to achieve all the established task objectives
China Manned Space Engineering Office Director Hao Chun said, Shenzhou XIII crew *** in orbit for 183 days, creating the longest record of China's astronauts in orbit for a continuous period of time, the current three astronauts are in good physical condition. At present, the three astronauts are in good physical condition and are recovering from the flight at the Astronaut Center. At the meeting, he first reviewed the main process of the Shenzhou XIII mission: on October 16, 2021, the Shenzhou XIII manned spacecraft was launched from the Jiuquan Satellite Launch Center, docked with the core module of the space station, and three astronauts were stationed in the core module. During the period in orbit, the Shenzhou 13 flight crew took care of and maintained the facilities and equipment of the core module according to the plan, carried out two out-of-cabin activities, carried out space science experiments and technology tests, and conducted a series of activities such as two space lectures in the "Tiangong classroom".
Liu Kun: Promote the sustainable recovery of consumption, systematization of the whole region to promote the construction of sponge cities
Finance Minister Liu Kun in the "Seeking Progress in the steady word" published an article entitled "stable word in a steady manner in the implementation of a good positive fiscal policy". According to the article, fully tapping the potential of domestic demand, promote the coordinated development of regions and new urbanization. Use government bonds to expand effective investment and support the promotion of projects in transportation, energy, water conservancy and other fields. Improve the system of support policies for education, pension, medical care, childcare and housing, and promote a sustained recovery in consumption. Implement policies such as subsidies for the purchase of new energy vehicles and exemption of vehicle purchase tax to promote the consumption of new energy vehicles. Supporting county commercial construction actions to expand rural consumption. Systematizing the whole region to promote sponge city construction. Support for the reconstruction of another batch of old urban neighborhoods, and the orderly promotion of urban renewal.
Social surface clearance, Jilin quickly start the resumption of work and production
16, Jilin Province held a press conference on the prevention and control of the epidemic. Released at the meeting, Jilin Province has basically stabilized the epidemic situation, for the integrated promotion of epidemic prevention and control and economic and social development to create the prerequisites. The automobile industry is an important pillar industry in Jilin Province, the first to realize the resumption of production is of great significance. In late March, Jilin Province began planning to promote FAW and its industry chain upstream and downstream enterprises to resume work and production. At present, the Red Flag Ulsan plant has taken the lead in resuming production, 47 first batch of suppliers also synchronized resumption of production, other host plants have been prepared in advance for resumption of work, will be resumed in batches in an orderly manner. The reporter learned from the meeting, in order to strengthen the resumption of work and production during the transportation security work, the Jilin Provincial Department of Transportation has set up a task force, the establishment of five hotlines dedicated to answer, timely acceptance and coordination to solve the problem of inter-provincial transportation obstruction. Jilin province highway 81 pairs of service area normal business, for drivers and passengers to provide gas, food, toilet and other basic services.
(Investment Advisor: Lin Xu Rui, Practice Certificate No. S0260615100004)
Second, the market hot spot focus
Market Review: time for space, digging long-term certainty
Friday market Shock consolidation, the three major indices are slightly lower, the whole day on the SSE Composite Index fell 0.45%, closed at 3211.24 points, the SZSE Index fell 0.56%, closed at 11648.57 points, the GEM Index fell 0.24%, closed at 2460.36 points, the whole day the two markets traded 911.2 billion yuan, slightly enlarged than the previous trading day. Plates, home furnishings, ships, banks rose, tourism, warehousing and logistics, coal pulled back more. After the sharp fluctuations in March, in the context of the cautious introduction of contraction policy, more and more stable growth policy landing, the market gradually entered the shock finishing stage, but due to the epidemic, the economy, the periphery and many other uncertainties, the market shocks repeatedly is inevitable, but at this stage, a number of valuation adjustments of high-quality leading companies configuration value slowly by the funds attention, coupled with the effect of growth stabilization policy is gradually The effect of growth stabilization policies gradually appeared, structural opportunities under the catalyst of the fundamentals may be getting closer, with investment value and fundamentals to support the probability of advantageous enterprises will take the lead out of the downturn area.
(Investment Advisor Wang Huaibei Registered Investment Advisor Certificate No.: S0260615030009)
Macro Viewpoints: The central bank lowered the reserve requirement ratio by 0.25 percentage points, releasing about 530 billion yuan of long-term funds
Events: In order to support the development of the real economy, and to promote the development of integrated financing costs steadily, the People's Bank of China decided to cut the reserve requirement ratio for financial institutions by 0.25 percentage points on April 25, 2022 (excluding financial institutions that have implemented a 5% reserve requirement ratio). In order to increase support for small and micro enterprises and "three rural areas", for city commercial banks without cross-provincial operations and agricultural commercial banks with reserve requirement ratio higher than 5%, the reserve requirement ratio will be reduced by an additional 0.25 percentage point on top of the 0.25 percentage point reduction. After this cut, the weighted average reserve ratio for financial institutions is 8.1%.
Source: website of the People's Bank of China
Comment: 2022, in the environment of external tightening of liquidity, the management of the adjustment of monetary policy performance is more cautious, this cut *** counts the release of long-term funds of about 530 billion yuan, the purpose is mainly to optimize the structure of financial institutions funds, increase the long-term stable sources of funds for financial institutions, enhance the ability of financial institutions to allocate funds to increase support for the real economy; to guide financial institutions to actively use the funds of the reduction to support industries and small and medium-sized micro-enterprises seriously affected by the epidemic. From the historical data, the short-term performance of the secondary market after the cut is not particularly obvious regularity, the adjustment of monetary policy is more for the macro level and the medium-term impact of corporate fundamentals.
(Investment Advisor Wang Huaibei Registered Investment Advisor Certificate No.: S0260615030009)
Home Appliances Industry: Promoting Consumption Policies are coming out one after another, and the end-demand will be released step by step
Events: From the end of the year of 2021 till now, the government has mentioned several times about stabilizing the growth, and promoting the consumption, among which home appliances consumption is the key area. On December 8, 2021, the Development and Reform Commission (DRC) and the Ministry of Industry and Information Technology (MIIT) issued the "Notice on the Implementation Plan for Revitalizing Industrial Economic Operation and Promoting High-Quality Development of Industry", encouraging conditional areas to carry out home appliance trade-in and smart home appliances to the countryside.2022 On January 14, 2022, the NDRC issued the "Notice on the Recent Work on Promoting Consumption", once again promoting conditional areas to carry out green smart home appliances to the countryside and support the development of green smart home appliances. On January 14, 2022, the NDRC issued the "Notice on Doing a Good Job in Promoting Consumption in the Near Future", again promoting conditional localities to launch green and smart home appliances to the countryside and supporting home appliances to carry out the "trade-in" and "trade-in for abandonment" activities, encouraging the reasonable updating of home appliances. On March 5, 2022, Premier Li Keqiang proposed at the fifth meeting of the 13th National People's Congress to continue to encourage localities to carry out green home appliances to the countryside and trade-in activities.
Source: GF Securities Research Report
Comment: In the past two quarters, the appliance industry offline retail data is relatively sluggish, but with the introduction of relevant consumer policies, urban household appliance renewal demand, rural households green home appliance popularization demand is expected to usher in the release of this will be to a certain extent pulling offline consumption rebound, corporate profitability is expected to improve, the impact of the epidemic is, after all, a short-term factor, the appliance sector, as a major player in the market, is the most important factor. The impact of the epidemic, after all, is a short-term factors, home appliance plate as an important carrier in the field of consumption, medium- and long-term configuration value or will gradually appear.
(Investment adviser Wang Huaibei Registered investment adviser certificate number: S0260615030009)
Three, new stock subscription tips
Looking at the change of the electrical subscription code 732191, the subscription price of 11.86 yuan
Watch the change of the electrical subscription code 732191, the subscription price of 11.86 yuan
.?
Four key stock recommendations
See the full version of the Morning View (customized path by month: Discover - Information - Paid Information - Morning View; single customized path: Discover - Gold Medal of Appreciation - Morning View)
What is the most important thing that you can do for your business?