01/ Morning introduction of Asian business investment consultants
1. Central Bank: There is currently no deflation in my country's economy, and there is no basis for long-term deflation or inflation;
2. The Shanghai Stock Exchange will hold a symposium on the financial industry of the Shanghai Stock Exchange to discuss the promotion of the valuation of the financial industry
3. Foreign Exchange Bureau: Foreign capital bought domestic securities net for two consecutive months
4. "Science and technology reform enterprises" vigorously expanded, and the State-owned Assets Supervision and Administration Commission put forward new requirements
02/ News Breakfast of Asia Business Investment Consultant
// Spotlight //
1. China's monetary policy implementation report for the first quarter is released. The report shows that in the next few months, affected by the high base and other factors, the CPI will fluctuate at a low level within a narrow range. From May to July this year, the CPI will remain low in stages, mainly due to the high base of the CPI increase of around 2.5% in the same period last year. In the medium and long term, my country's overall economic supply and demand are basically balanced, monetary conditions are reasonable and moderate, residents' expectations are stable, and there is no basis for long-term deflation or inflation.
2. It is reported that the "Shanghai Financial Industry Symposium" hosted by the Shanghai Stock Exchange and undertaken by the Industrial and Commercial Bank of China will be held on Wednesday. The important content discussed at this meeting is "promoting the valuation improvement and high-quality development of the financial industry while serving Chinese-style modernization". Participating institutions include banks, insurance, funds and brokerages.
3. Under the capital item, foreign direct investment in China continued to maintain a net inflow in April, and foreign capital bought domestic securities for two consecutive months, showing that my country's economic development prospects and the value of RMB assets have further boosted the confidence of global investors; foreign direct investment and foreign investment Securities investment remained stable and orderly.
4. Weng Jieming, member of the Party Committee and deputy director of the State-owned Assets Supervision and Administration Commission of the State Council, said that recently, the State-owned Assets Supervision and Administration Commission of the State Council has made a large-scale expansion and adjustment of "technological reform enterprises", expanding from 439 to 672. To deepen the "Science and Technology Reform Action", the State-owned Assets Supervision and Administration Commission has put forward new requirements to build forward-looking strategic emerging industries with greater efforts; encourage R&D investment to be added back at 100% or higher as profits; pay more attention to "input and output Support "technological reform enterprises" to steadily carry out employee stock ownership; create a corporate culture that encourages innovation and tolerates failure; do not set up restricted areas for grassroots reform and innovation, fully support, understand and tolerate.
// Global Market //
1. U.S. stocks: The Dow closed up 0.14% at 33348.60 points; the Nasdaq closed up 0.66% at 12365.21 points; the S&P 500 closed up 0.30% at 4136.28 points.
2. European stocks: Germany's DAX 30 index closed up 0.02% to 15917.24 points. The French CAC 40 index closed up 0.05% at 7418.21 points. Britain's FTSE 100 index closed up 0.30% at 7777.70 points.
3. Crude oil: WTI June crude oil futures closed up 1.53% at $71.11/barrel; Brent crude oil futures closed up 1.43% at $75.23/barrel.
// macro //
1. The Customs Tariff Commission of the State Council issued an announcement that from June 2, 2023, some imported goods originating in the Philippines will implement the agreed tax rates applicable to RCEP ASEAN member states, and the subsequent annual tax rates will be implemented from January 1 of that year. After RCEP came into force for the Philippines, all 15 members have completed the entry into force procedures and implemented tariff concessions with each other, and the agreement has entered a new stage of full implementation.
2. People familiar with the matter said that the G7 Hiroshima summit may issue a subsidiary statement on "economic security" and get rid of dependence on China in the fields of semiconductors and key minerals. In this regard, Foreign Ministry spokesperson Wang Wenbin said that if the G7 really cares about economic security, it should ask the United States to stop disrupting the security and stability of the global industrial chain and supply chain, and stop splitting the world into two major markets and two systems.
3. In order to maintain reasonable and sufficient liquidity in the banking system, the People's Bank of China launched a 125 billion yuan medium-term lending facility (MLF) operation and a 2 billion yuan open market reverse repurchase operation. The MLF interest rate and the 7-day reverse repurchase rate were unchanged from the previous period, at 2.75% and 2% respectively. The MLF rate has remained unchanged for nine consecutive months. Experts believe that the MLF will continue to be increased after maturity, releasing a signal that the policy will continue to focus on stable growth, which will help stabilize market expectations.
4. In April, the electricity consumption of the whole society was 690.1 billion kwh, a year-on-year increase of 8.3%. In terms of industries, the electricity consumption of the primary industry was 8.8 billion kwh, a year-on-year increase of 12.3%; the electricity consumption of the secondary industry was 481.4 billion kwh, a year-on-year increase of 7.6%; the electricity consumption of the tertiary industry was 115.5 billion kwh, a year-on-year increase of 17.9% %; urban and rural residents' living electricity consumption was 84.4 billion kwh, a year-on-year increase of 0.9%.
5. The population problem is always an overall, long-term and strategic problem facing our country. The first meeting of the 20th Central Financial and Economic Commission pointed out that we must fully understand and correctly view the new situation of my country's population development. Adhere to the high-quality development of population, based on strategic overall planning, strengthen the strategic position and basic role of population development, and create the superimposed advantages of total population potential energy, structural dividends and quality capital that are conducive to development.
6. A few days ago, Guangdong Province issued the "Implementation Opinions on Promoting the "Mother's Job" Employment Model to Promote Women's Employment (Draft for Comment)", proposing to extensively develop "Mother's Job" in the whole province to expand women's employment space. It is understood that the mother post is mainly used to absorb the employment of women who are under the legal working age and have the obligation to raise children under the age of 12. The working hours and management mode are relatively flexible, and it is convenient to take care of work and childcare.
7. Not long after the peak of influenza A has passed, more and more children are suffering from respiratory infections in pediatric outpatient clinics of hospitals in many places. The new virus is called respiratory syncytial virus (RSV). However, relevant experts said that RSV is a self-limiting disease, and generally symptomatic treatment is sufficient, so there is no need to panic.
// Industry //
1. French President Macron recently announced that China’s Xiamen Tungsten New Energy Materials Co., Ltd. (XTC New Energy Materials) and France’s Orano (Orano) plan to invest 1.5 billion euros (about 11.4 billion yuan) in the country The northern port city of Dunkirk has launched a joint venture in the battery sector. The project is expected to create 1,700 jobs.
2. Recently, the General Administration of Customs and the three ministries and commissions approved the further expansion of the scope of cross-border transportation of domestic trade goods in Jilin Province, adding Russia's Vladivostok Port (Vladivostok Port) as a transit port for domestic trade goods, Zhoushan Yong, Zhejiang Province Zhouzhou Container Terminal and Jiaxing Zhapu Port serve as ports of entry for cross-border transportation of domestic trade goods.
3. People in the insurance industry generally believe that in the past five years, the insurance industry has gradually returned from extensive management to the source of protection, from scale-oriented to value-oriented, and the transformation has achieved remarkable results. In the future, we should further serve the national strategy, actively develop the third pillar of pension insurance, carry out the digital transformation of the industry, and promote the establishment of a differentiated competition pattern.
4. The Beijing Municipal Science and Technology Commission and the Zhongguancun Management Committee recently formulated "Several Measures for Beijing to Promote the Innovation and Development of General Artificial Intelligence (2023-2025) (Draft for Comment)". The draft for comments proposes to explore the demonstration application of general artificial intelligence technology in the field of autonomous driving. The system layout large-scale model technology system, and continue to explore the path of general artificial intelligence. Carry out research on innovative algorithms and key technologies for large models.
5. The Beijing Municipal Science and Technology Commission and the Zhongguancun Management Committee recently formulated "Several Measures for Beijing to Promote the Innovation and Development of General Artificial Intelligence (2023-2025) (Draft for Comment)". The draft for comments proposes to explore the demonstration application of general artificial intelligence technology in the field of autonomous driving. The system layout large-scale model technology system, and continue to explore the path of general artificial intelligence. Carry out research on innovative algorithms and key technologies for large models.
03/ Subscription for new shares of Asia business investment consultant
New shares (including Beijing Stock Exchange): Xinghao Pharmaceutical
New convertible bonds: none
New stocks listed on Tuesday: Huawei Technology, Huizhiwei
Convertible bonds listed on Tuesday: Jin 23 convertible bonds
Reference materials: Financial Associated Press, Wind Information
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