01/Morning introduction of Asian business investment consultants
my country will set up the National Data Bureau and the data management level will rise to a higher level
Fed Chair Powell: Fed ready to hike rates faster if necessary
Minister of Housing and Urban-Rural Development: Full of confidence in the stabilization and recovery of the real estate market
State Council: Formation of the State Administration of Financial Supervision and Administration
02/News Breakfast of Asia Business Investment Consultant
// Spotlight//
According to the State Council's proposal to submit for review the State Council's institutional reform plan, the National Data Bureau was established. Responsible for coordinating and promoting the construction of data infrastructure, coordinating the integration, sharing, development and utilization of data resources, and coordinating the promotion of digital China, digital economy, digital society planning and construction, etc., managed by the National Development and Reform Commission.
Federal Reserve Chairman Jerome Powell said the Fed is ready to accelerate the pace of rate hikes if necessary; the final peak rate could be higher than expected. The Fed's rate hikes have slowed demand in rate-sensitive industries, and history has cautioned against easing policy too soon. Restoring price stability may require a restrictive policy stance for some time. The lagged effects of monetary policy are being closely monitored and will be taken into account when raising rates.
Ni Hong, Minister of Housing and Urban-Rural Development, expressed confidence in the stabilization and recovery of the real estate market for three reasons. First, from the perspective of market supply and demand, the prevention and control of the new crown pneumonia epidemic has achieved a decisive victory, and the prevention and control policies have also been optimized and adjusted, which has had a positive impact on both ends of real estate supply and demand. Second, judging from market expectations, in January and February this year, 13 months of negative growth in the sales of commercial housing across the country ended. Although housing prices in 70 large and medium-sized cities rose and fell, overall prices were stable. Third, from the perspective of policy implementation, we have introduced policies that strongly support the first set of housing and reasonably support the second set of housing, and are being implemented to bear fruit.
// Global Market //
All three major U.S. stock indexes closed down more than 1%. The Dow fell 1.72% to 32856.46 points, the S&P 500 fell 1.53% to 3986.37 points, and the Nasdaq fell 1.25% to 11530.33 points. Goldman Sachs and Caterpillar fell more than 3%, leading the Dow. Wind US TAMAMA Technology Index fell 1.22%, Apple fell 1.45%, and Tesla fell 3.15%. Popular Chinese concept stocks fell, Xiaopeng Motors fell nearly 8%, and Li Auto fell 5.6%. Powell said that the Fed is preparing to raise interest rates faster, and the final level of interest rates may be higher than previously expected.
The major European stock indexes closed down across the board. The German DAX index fell 0.6% to 15559.53 points, the French CAC40 index fell 0.46% to 7339.27 points, and the British FTSE 100 index fell 0.13% to 7919.48 points.
International oil prices fell across the board. The U.S. oil contract in April fell 4.04% to US$77.21/barrel, ending the five-day rising trend; the May oil contract fell 3.74% to US$82.96/barrel. The market is assessing the possible impact of overseas economic data and the Federal Reserve's aggressive interest rate hike stance on oil prices.
// macro//
In accordance with the State Council's proposal to submit for review the institutional reform plan of the State Council, the State Financial Supervision and Administration Bureau was established. Take unified responsibility for the supervision of the financial industry other than the securities industry, strengthen institutional supervision, behavioral supervision, functional supervision, penetrating supervision, and continuous supervision, take overall responsibility for the protection of the rights and interests of financial consumers, strengthen risk management and prevention and disposal, and investigate and deal with violations of laws and regulations in accordance with the law , as an institution directly under the State Council.
Luo Wen, director of the State Administration for Market Regulation, said that we have amended the Anti-Monopoly Law last year, and we are currently promoting the revision of the Anti-Unfair Competition Law, and are also improving relevant regulations and guidelines such as standards for declaration of concentration of undertakings , and strive to make the regulatory rules clearer and the law enforcement procedures clearer, so that all kinds of enterprises can catch up with each other and improve together on the track of fair competition.
According to the National Development and Reform Commission, 102 major projects in the "14th Five-Year Plan" will be implemented in an orderly manner this year. Strengthen the construction of food security, energy security, industrial chain supply chain security and other fields. Accelerate the construction of major infrastructure such as transportation, water conservancy, and energy. Strengthen investment in manufacturing and high-tech industries, and systematically deploy new infrastructure. Accelerate the construction of people's livelihood areas such as urban gas pipelines and other aging renovations, urban waterlogging control, and social undertakings. This year, it is planned to invest 680 billion yuan in the central budget.
Sha Yan, deputy to the National People's Congress and general manager of the Shenzhen Stock Exchange, brought a proposal this year on amending the Fund Law to provide legal support for simplifying the product structure of REITs. The securities regulatory authority of the State Council separately stipulates to provide legal support for simplifying the product structure of REITs, further reducing product management costs, improving product competitiveness, promoting the revitalization of stock assets, and better serving the high-quality development of the real economy. At the same time, in order to further improve the governance efficiency of REITs, on the basis of simplifying the product structure, it is recommended to promote qualified fund management companies and leading enterprises in the infrastructure industry to set up subsidiaries specializing in REITs business, promote the integration of industry and finance, and make better use of funds. Manage the company's capital operation capabilities and the professional operation capabilities of the original stakeholders.
Yao Qian, Director of the Science and Technology Supervision Bureau of the China Securities Regulatory Commission, wrote in the "China Finance" magazine that it is recommended to focus on the development of synthetic data industries based on AIGC technology. With higher efficiency, lower cost, and higher quality as the "incremental expansion" of the data element market, it helps create data advantages for the future development of artificial intelligence. In terms of strengthening the high-quality supply of data elements, overall consideration should be given to self-reliance and self-improvement and opening up to the outside world. It may be considered to establish filtered domestic mirror sites for specific data sources such as Wikipedia and Reddit for use by domestic data processors.
// Industry//
Since the beginning of this year, the new energy track has been neglected, especially the battery sector, which has fallen against the market this year, and many leading stocks have continued to hit new lows. According to the 2023 net profit forecast by the institutions, the valuation advantages of some battery sector stocks are prominent. Among them, Wanrun New Energy, rated by four institutions, unanimously predicts that the price-earnings ratio for this year will be less than 9 times, the lowest on the list. Stocks such as Zhongyi Technology, Shanshan, and Betray have a predicted price-earnings ratio of just over 10 times, which is only a stone’s throw away from single digits.
In order to better support the comprehensive management of coal mining subsidence areas, the China Development Bank issued the "Supporting the Comprehensive Management of Coal Mining Subsidence Areas" (hereinafter referred to as the "Plan") to further serve the high-quality development of resource-based areas with developmental finance and serve the construction Beautiful China. The "Plan" pointed out that the development bank should follow the relevant planning of the comprehensive management of coal mining subsidence areas in the country as a guide, deepen bank-government-enterprise cooperation, strengthen planning and policy research, and explore bank-government cooperation models that serve the comprehensive management of local coal mining subsidence areas according to local conditions.
In order to successfully complete this large-volume vehicle roll-off operation, Ningbo Messi Ro-Ro Terminal planned in advance, confirmed customer needs through multiple communications, and combined with vehicle characteristics, customized a personalized operation plan to ensure safe and efficient roll-on operations and effectively demonstrate It has improved the efficient ro-ro and professional service level of the terminal.
On March 7, the Beijing Municipal Bureau of Commerce issued a notice to encourage the development of commercial brand first store first project application guidelines in 2023. (Mainland) First Store, Beijing First Store, Flagship Store, and Innovative Concept Store to provide financial support. Among them, the first store of a retail enterprise in Asia can receive support of up to 5 million yuan.
03/ Subscription for new shares of Asia business investment consultant
New shares (including Beijing Stock Exchange): Honglin Electric Power, Hongyuan Pharmaceutical, Taotao Automobile
New convertible bonds: Xingang issued bonds, Jianlong issued bonds
New stocks listed on Wednesday: Yibin Technology, Kaida Catalysis
Convertible bonds listed on Wednesday: None
Reference materials: Financial Associated Press, Wind Information
Shanghai Asia Business Investment Consulting Co., Ltd. (referred to as Asia Business Investment Consulting), established in 1994, is a securities investment consulting agency licensed by the China Securities Regulatory Commission (license number: ZX0072).
In the course of more than 20 years of development, Asia Business Investment Consulting has grown along with the development of China's capital market. In the future, Asia Business Investment Consulting will continue to stay true to its original aspiration and keep its mission firmly in mind to build a financial service institution recognized, trusted and respected by investors.
Disclaimer: This page is based on public data, and the content is for learning and reference only, and does not constitute investment advice. Investors should choose carefully, make decisions independently, and bear their own risks. Investment is risky, and you need to be cautious when entering the market.