Thanks to the girls' performances, this drum beat is very interesting. If it is made into a rhythm, it may be consistent with the K-line chart of this stock market, with ups and downs.
Moderator Zhang Houqi: Good morning, ladies and gentlemen!
At the end of the year and the beginning of the year, there were many such meetings, and the finances were very serious, but today I think about it, it is not very serious. I want everyone to spend today with us, in our relaxed and happy life, accompanied by a smile on our faces.
Moderator Wang: I am Wang of CCTV, and it is a great honor to host this forum with my doctor. I heard screams. This is Dr. Zhang from Huaxia Fund. Dr. zhang is also engaged in some work in Huaxia Fund, not only research work, but also some very specific work, which can make your pockets swell for us investors. Because I am a doctor, I am honored to be a partner with Dr. Zhang today and learn from you.
Zhang Houqi, the host: Actually, I'm a little excited now, and I can't speak. Please don't laugh at me. I grew up in a village, and I am very excited to see Xiao Ya.
I wasn't the only one who was excited yesterday. Last night, I spoke on the phone with some of my old customers and friends. They asked me what I talked about at today's meeting. I said that it was nothing for the investment director to talk about stocks, and I wanted Wang to tell me something about Xiaomi's management of China's financial affairs. This is a cow. So, you can't have smiles send us light all your life, you should be satisfied with today.
I think a real man will like smiles send us light and dare not say it at home. We can talk about it today. So, I won't fool around again, listen to smiles send us light.
Moderator Wang: I found that those who studied finance were very humorous as soon as they were released. I hope everyone can have a very relaxed and happy mood here today and then come to this forum.
Today, this forum invited many heavyweights, both in macro theory and practical operation, who are very powerful experts.
Then we will share with you some rules, achievements and further development direction of the fund in the past 65,438+00 years, and they will also give us practical technical guidance.
Next, I want to introduce you to someone. This person will be familiar to everyone, and there are several pictures to illustrate it. Of course, he is a man, a very elegant man with glasses. Now he manages 6.5438 billion investors, which is not a small number. Then, his capital flow is 250 billion, so no matter how much money there is, we are concerned about the word dividend in this capital. Dividends have reached 25 billion yuan. Why doesn't anyone laugh?
Of course, if we compare 24 billion with 25 billion, I will definitely choose 25 billion, because it is more than 25 billion. So this is a very successful year 10, and the history of Huaxia Fund is almost the same as that of Huaxia Fund. Therefore, it is necessary to invite him when our forum opens today.
Please ask Dr. Zhang to introduce it specifically. I can't finish, because this is his boss and I want to give him a chance.
Moderator Zhang Houqi: Please welcome Mr. Fan Yonghong, General Manager of Huaxia Fund. 10 has come all the way from China fund industry.
Moderator Wang: Please welcome!
Fan Yonghong: Good morning, leaders, ladies and gentlemen!
Thank you very much for attending the strategy meeting in 2008.
As you all know, I also talked about it just now. In fact, there are many such meetings, especially at the end of the year. Then I am very grateful to be able to attend this meeting near the end of the year. Then in the coming year of 2007, because the stock market is relatively good, I believe all of you here have also achieved very good results. Then Huaxia Fund, like everyone else, seized some opportunities and made good profits by strengthening management.
Including Public Offering of Fund, enterprise annuity, account management, social security fund, etc., have achieved good results in scale and investment performance. Then behind the achievements, it is indeed everyone present who has given great trust, support and help. Then, especially as we all know, during this year, we pay special attention to whether changes in equity of Huaxia Fund will have a great impact on our industry and Huaxia Fund.
Therefore, whether we are defending the enterprise annuity or among friends in the press, we are very concerned about this issue. I think this is understandable, because the asset management industry is a one-person industry, mainly a team. Then, the change of equity is a common phenomenon in China fund industry during 10 years. In this regard, Huaxia Fund is more prominent. As we all know, the original shareholders of Huaxia Fund-Huaxia Securities, Beijing Securities and Zhongke Xin Securities-all disappeared with the fluctuation of the securities market. Later, it entered four shareholders, and accumulated, Huaxia Fund experienced seven shareholders in 10. These seven shareholders all made good profits, and withdrew for various reasons, policy reasons or other reasons.
Then, Huaxia Fund has been growing, especially thanks to the concern and support of investors and news media friends. Then I believe that the asset management industry is mainly a team. As long as there is a good team, there is hope for the industry. Because, I think the team is the most important and core asset in the asset management industry and the core driving force for our long-term sustainable development.
2007 is coming to an end. Looking forward to 2008, we really should have many plans and ideas. I think because you are definitely not listening to me today, you must be listening to experts and scholars, such as the very good Professor Watson, Director Li, and the famous host Wang. You're here to listen to this major. Therefore, it is not convenient for me to express opinions that are not necessarily correct here, because we are more engaged in this market and investment, and what we say is not necessarily correct for your reference.
In this process, I think the China stock market is really facing a more complicated external environment in 2008. Therefore, the market will become more complicated in 2008. Then, there are still many such problems that deserve our attention.
The first question, such as the impact of the US subprime mortgage problem, is there a * * * understanding of the US economic recession? Because everyone thinks that the slowdown is certain, but will it cause the whole recession? This has a great influence on the whole world.
Second, China implemented a tight monetary policy in 2008, which was the first time in 10 years. How tight is it? I think it is also very, very important.
The third question is the price. The current price inflation in China is structural. Will it lead to full-scale inflation? This will also have a great impact on the stock market.
The fourth question is, we foresee an accelerated appreciation of the renminbi, so to what extent? This will also have an impact on the stock market.
The fifth question is whether the current valuation is reasonable, which is also a major factor restricting the stock market in 2008.
So, considering so many factors, is 2008 a big year or a small year for investors? I believe that after listening to the expert's speech, everyone may have their own views. So, I won't say more and take up more time. I sincerely wish you all a little gain through the seminar. At the same time, I wish you good health and rich income in the coming year 2008. Thank you!
Moderator Wang: Thank you for your speech and your understanding. Mr. Fan said that today, people may want to hear more meaningful economic analysis, macro and micro analysis. So General Fan's group specially arranged a very good combination for everyone today.
Today's forum is divided into morning and afternoon. In the morning, we invited relevant people from authoritative government economic departments and economists, who will provide some hot spots and focuses of the whole economic environment and analyze economic trends from a macro perspective or a certain level of technical analysis.
In the afternoon, there will be some experts with rich practical experience. I think it is more accurate to use the word "expert" to analyze what suggestions and directions are in specific operations. So I'm thinking, today's combination should be said to be a very good arrangement and combination from point to surface, from detail to macro. Here it is. Thank you for your arrangement.
Moderator Zhang Houqi: It is rare for Xiao Ya to talk to you so kindly in financial language.
Wang: dr. zhang doesn't know whether to drink coffee or tea this morning. Anyway, dr. zhang's mode of thinking today is different from his usual occupation. However, we must also understand that 1 year has passed, and Dr. Hu, who has worked so hard for so long, can relax. Therefore, we all accept Dr. Zhang's idea. Let's give dr. zhang a hand first.
Dr. zhang has always said that today I want everyone to participate in this forum in a relaxed and happy atmosphere.
Moderator: Actually, my boss, Mr. Fan, made a speech just now. I have been following Teacher Fan for more than ten years. I think Huaxia Fund is "pragmatic" today. I can't change my nature. If I give you some sunshine, I will be more brilliant. If I see a smile bring us light, I will be more brilliant. Therefore, we often digress. I think the asset management industry of Huaxia Fund is an industry that only talks but does not do. So, judging from our brief words just now, only the numbers are not as sensational as me. So against my will, General Fan gave me a chief fraud officer.