A selection of financial news
National Development and Reform Commission (NDRC): China's people's life has entered a stage of relative prosperity and abundance according to the United Nations standards
Chinese National Development and Reform Commission (NDRC) deputy director Hu Zucai said in Beijing on the 12th, from the embodiment of the quality of life and the upgrading of consumption, the Engel coefficient is the most important factor. The Engel coefficient, which reflects the quality of life and consumption upgrading, shows that the Chinese people have entered a stage of relative prosperity and affluence according to the United Nations standards.
Source: China News Network
Ministry of Commerce: U.S. canceling tariff hikes on China is in line with the fundamental interests of U.S. consumers and businesses
At a regular press conference held by the Ministry of Commerce, a media outlet asked if the Office of the U.S. Trade Representative has recently announced the launching of the tariff hike review process on China, and that the U.S. side is evaluating whether to cut the tariffs imposed on China. What does the Ministry of Commerce (MOFCOM) have to say about this? Ministry of Commerce spokeswoman Shu Juting said that in the current situation of high inflation, the U.S. side to cancel the tariffs imposed on China is in line with the fundamental interests of U.S. consumers and enterprises, which is conducive to the United States, China and the world. Shu Juting introduced that at present, the economic and trade teams of China and the United States maintain normal communication.
Source: CCTV news client
The two departments clarify the phased implementation of the policy of deferring the payment of enterprise social insurance premiums in the special hardship industries
The General Office of the Ministry of Human Resources and Social Security and the General Office of the State Administration of Taxation have issued a notice on the phased implementation of the policy of deferring the payment of enterprise social insurance premiums in the special hardship industries.
The notice specifies that the deferred payment applies to the unit-payable portion of three social insurance premiums for catering, retail, tourism, civil aviation, and road and waterway railroad transportation enterprises. Individual industrial and commercial households with employees who participate in social insurance in the form of units in the above industries and other units will be deferred with reference to the enterprise approach. Enterprises shall fulfill the obligation of withholding and paying the part payable by individual employees in accordance with the law. Individual industrial and commercial households and various types of flexibly employed persons who participate in the basic pension insurance for enterprise employees in their personal capacity and have difficulties in paying the contributions in 2022 may voluntarily suspend their contributions, and the unpaid months in 2022 may be made up before the end of 2023, with the contribution base chosen independently within the upper and lower limits of the local individual contribution base in 2023, and with the years of contribution accumulated and calculated. The period belonging to the deferred payment of basic pension insurance premiums for enterprise employees is from April to June 2022. The deferred payment period for unemployment insurance premiums and industrial injury insurance premiums is from April 2022 to March 2023, during which enterprises can apply for deferred payment for different periods. Enterprises that have already paid the contributions for April 2022 can apply for deferral from May, and the deferred payment month will be postponed by one month accordingly, or they can apply for a refund of the April contributions. Late fees will be waived during the deferment period.
Source: State Administration of Taxation
China Iron and Steel Association (CISA): Encouragement and promotion of mergers and reorganization in the iron and steel industry
China Iron and Steel Association (CISA) held a meeting of the rotating presidents of CISA, focusing on the current major issues related to the industry and the association's focus on the work that will be carried out in the study and discussion. The meeting also listened to the progress of the "Cornerstone Program", adopted the "Frontier Low Carbon Technology Development Support Program" proposal, adopted the industry to carry out EPD (Environmental Product Declarations) related to the implementation of the program and work plan.
The meeting concluded that it is necessary to continue to encourage and vigorously promote mergers and acquisitions in the iron and steel industry, and to promote transformation and upgrading and enhance the international competitiveness of the whole industry through comprehensive optimization of asset allocation.
Source: China.com
China Iron and Steel Association Manganese Professional Committee called on all manganese members to "carry out industry self-help, limiting and reducing production by 50%"
According to the "MySteel.com "May 12 afternoon, China Ferroalloy Industry Association manganese professional committee, held a national 40 manganese member units to participate in the Tencent video conference. Recently, due to the large-scale production limitation and overhaul of steel mills, the demand for manganese alloy continues to be weak, the price of silicomanganese futures plate is at a record low, which seriously affects the sales price of silicomanganese alloy spot market, the depreciation of the RMB, the high price of imported manganese ores, and the continuous high price of coal and coke have led to the significant increase in the production cost of manganese alloy, and the huge drop in the price of electrolytic manganese has resulted in the continuous low price of low and medium manganese, and at present, the whole manganese alloy product At present, all manganese alloy products are in loss, and the sales are under great pressure, and each unit has different degree of inventory. In order to reverse this situation as soon as possible, the Manganese Alloy Committee of Ferroalloy Industry Association called on the 40 manganese alloy member units to take active actions to carry out self-help in the industry, and strictly implement the limitation and reduction of production by 50%. 40 manganese alloy manufacturers, with a monthly production capacity of 1.2 million tons, will strictly implement the monthly reduction of 600,000 tons, and at the same time, reduce the monthly purchasing of 1.2 million tons of foreign minerals, in order to alleviate the situation of the serious surplus of manganese alloy, and thus reduce the internal viciousness of the industry. In order to alleviate the situation of serious surplus of manganese alloy, and thus reduce the loss caused by vicious competition within the industry.
Source: Interface News
(Investment adviser? Cai Jin? Registered investment adviser certificate number: S0260611090020)
Two, the market hot spot focus
Market comment: the index sideways shock rest, the market is still in the rebound cycle
Thursday, the two market index after the opening of the low oscillator, the market's total trading volume of The total market turnover decreased compared to the previous trading day. Specifically, the Shanghai index closed on the Shanghai Stock Exchange index fell 0.12%, closing at 3054.99 points; the Shenzhen Composite Index fell 0.13%, closing at 11094.87; GEM rose 0.22%, closing at 2351.27 points.
On the disk, the concept of new town construction stocks, Alzheimer's concept stocks and hepatitis concept stocks performed strongly and rose, the coal plate performance is relatively weak. From the trend, the three major indexes across the board shrinkage shock finishing, the index is a benign retracement of the continuous rise, the market rebound is still not over, after a short-term shock recuperation is expected to go up again.
Operationally, the market atmosphere is good, short-term recommendations to avoid the high level of material stocks, while the track direction in recent trading days relatively strong performance, continuity is expected to continue. Theme stocks short-term around the platform economic concept, epidemic concept and infrastructure direction repeatedly active, it is recommended to pay attention to the low rise in the low demand for complementary stocks. Medium-term recommendations focus on lithium battery midstream, chips, photovoltaic, wind power equipment, brokerage firms and banks and other high-quality leading enterprises and performance to good stocks.
(Investment adviser? Yu Dechao? Registered Investment Advisor Certificate No.: S0260613080021)
Macro viewpoint: passenger association: the first week of May, passenger car retail 254,000 units, down 21% year-on-year
Passenger association data show that May 1-8, passenger car retail 254,000 units, down 21% year-on-year, down 45% from last week, down from last week 45%, up 29% from the same period last month; 222,000 passenger cars wholesale, down 17% from a year earlier, down 49% from last week, up 14% from the same period last month. The first week of May this year the overall narrow passenger car market retail reached a daily average of 32,000 units, down 21% year-on-year, the performance is still seriously relatively weak. Relative to the first week of April this year the average was up 29%. With the return to normal operation in some areas, the passenger car market retail has improved somewhat.
Source: Caixin Associated Press
Comment: Passenger car sales have declined to a greater extent year-on-year and year-on-year, mainly due to the impact of the epidemic. With the gradual resumption of normal operation around the world, the passenger car market retail is expected to improve. It is expected that the automobile industry chain stocks are expected to enter a rebound phase.
(Investment adviser? Cai Jin? Registered investment adviser certificate number: S0260611090020)
Real estate industry: the clouds see the sun, to the sun
The market as a whole is under pressure, and the industry pattern has quietly changed. With the city policy into the deep water, many places to relax the control policy, while the property market control relaxation scope gradually to Suzhou, Nanjing and other high-powered cities to expand. Real estate policy end of the relaxation to market confidence repair still need some time, Q1 commercial residential sales area fell 18.6% year-on-year, commercial residential sales fell 25.6% year-on-year. Sales pressure, new construction enthusiasm is not enough, around the "to protect the delivery" to promote the construction area rose slightly, the national commercial residential construction area increased by 1.1% year-on-year, the completion of the area fell by 11.3% year-on-year. 2021-22Q1 real estate industry concentration declined. With the exposure of Evergrande's risk exposure last year, some of the head private developers also appeared liquidity risk one after another, which gradually evolved into credit risk, resulting in sales falling short of expectations, and year-to-date credit risk has further fermented, forcing such real estate enterprises to be passively slimmed down by capitalizing on their debts and the industry's concentration has declined.
Source: Shanghai Securities Research Report
Comment: the steady growth of the continued encoding, around the sales and land auction policy has been relaxed, the industry pattern is facing reshaping, real estate sector is expected to continue to perform, it is recommended to pay attention to.
(Investment adviser Yu Dechao Registered Investment Adviser Certificate No.: S0260613080021)
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