01/ Morning introduction of Asian business investment consultants
1. The National Standing Committee reviewed and approved the "Guiding Opinions on Actively and Steadily Promoting the Transformation of Urban Villages in Megacities"
2. The China Securities Regulatory Commission intends to improve the supervision of major shareholders, directors, supervisors and high-level specific short-term transactions
3. National Development and Reform Commission: The policy document on restoring and expanding consumption will be officially issued in the near future
02/ News Breakfast of Asia Business Investment Consultant
// Spotlight //
1. Li Qiang, Premier of the State Council, presided over the executive meeting of the State Council, deliberated and approved the "Guiding Opinions on Actively and Steadily Promoting the Transformation of Urban Villages in Super Mega Cities". The meeting pointed out that it is necessary to give full play to the decisive role of the market in resource allocation, better play the role of the government, increase policy support for the transformation of urban villages, actively innovate transformation models, encourage and support the participation of private capital, and strive to develop various new formats to achieve sustainable operations.
2. The China Securities Regulatory Commission has drafted the "Several Provisions on Improving the Supervision of Specific Short-swing Trading (Draft for Comment)", which is now open to the public for comments. On the basis of keeping the existing regulatory standards unchanged, the "Regulations" specify 11 exemption situations in detail to better support the development of relevant entities and businesses. The opinion drafts of several regulations on the regulation of specific short-term transactions mainly focus on specific investors such as major shareholders, directors, supervisors and senior management, and clarify and refine the applicable standards for specific short-term transactions, without expanding the regulatory objects and without affecting the normal transactions of ordinary investors.
3. Chang Tiewei, deputy director of the Department of Employment, said at a press conference that policy documents for restoring and expanding consumption will be officially issued in the near future. In the second half of the year, it is necessary to do a better job in promoting consumption, enhance vitality, stimulate market potential, and better play the fundamental role of consumption in economic development.
4. The National Development and Reform Commission issued "Several Measures on Promoting Automobile Consumption" and "Several Measures on Promoting Electronic Product Consumption". Among them, it is mentioned that the management policy of car purchase restriction should be optimized. Encourage purchase-restricted areas to issue annual car purchase targets as early as possible, implement differentiated policies for urban and suburban targets, and increase annual car purchase targets according to local conditions. Accelerate technological innovation of electronic products. Conform to the trend of a new round of technological revolution and industrial transformation, promote supply-side technological innovation and industrial upgrading, and promote the upgrading of electronic product consumption.
5. The Ministry of Industry and Information Technology held the "Accelerating the Development of New Chemical Materials Industry and Promoting the High-quality Development of Downstream Industries" National Committee of the Chinese People's Political Consultative Conference's Key Proposal Handling and New Chemical Material Industry Development Symposium. The meeting emphasized that it is necessary to promote new breakthroughs in the development of the new chemical material industry, vigorously cultivate internationally competitive backbone enterprises and specialized new enterprises, form a high-quality enterprise echelon, promote the integrated development of large and small enterprises, and enhance development potential and stamina.
// Global Market //
1. U.S. stocks: On July 21, Eastern Time, the Dow Jones Index closed up 0.01% to 35227.69 points; the S&P 500 Index closed up 0.03% to 4536.34 points; the Nasdaq Index closed down 0.22% to 14032.81 points.
2. European stocks: On July 21, the British FTSE 100 index closed at 7663.73 points, up 0.23%; the French CAC40 index closed at 7432.77 points, up 0.65%; the German DAX30 index closed at 16177.22 points, down 0.17%.
3. Crude oil: On July 21, Eastern Time, the settlement price of WTI crude oil futures for August closed up 1.9% to $77.07/barrel; the settlement price of Brent crude oil futures for September closed up 1.8% to $81.07/barrel.
// macro //
1. The 12th China-Japan-Korea Central Bank Governors Meeting was held in Yokohama, Japan. This was the first meeting of the China-Japan-Korea Central Bank Governors meeting in four years. Changyong Rhee, Governor of the Bank of Korea, presided over the meeting. Pan Gongsheng, Secretary of the Party Committee of the People's Bank of China and Director of the State Administration of Foreign Exchange, and Kazuo Ueda, Governor of the Bank of Japan attended the meeting to exchange views on the recent economic and financial situation. In 2024, the People's Bank of China will host the 13th China-Japan-Korea Central Bank Governors Meeting.
2. The Ministry of Commerce held a special policy interpretation and communication roundtable for foreign-funded business associations. The Central Cyberspace Administration of China, the Ministry of Commerce and other departments, as well as experts in related fields, foreign-funded enterprises, will conduct publicity and interpretation of the hot topics of concern, and carry out interactive exchanges. Representatives from the American Chamber of Commerce in China, the European Union Chamber of Commerce in China, the Japanese Chamber of Commerce in China, the Korean Chamber of Commerce in China and more than 30 member companies attended the conference.
3. In the first half of the year, my country's key social security reforms were implemented steadily. In the first half of the year, the national endowment insurance adjusted 163 billion yuan of funds to support the distribution of pensions in provinces with fund difficulties. The personal pension system and the pilot program of occupational injury protection for employed persons in new employment forms continued to advance. As of the end of June, the number of people participating in basic pension insurance, unemployment insurance, and work-related injury insurance nationwide was 1.057 billion, 240 million, and 294 million, respectively, all of which increased year-on-year.
4. The Ministry of Education held a national "double reduction" work promotion meeting and a plenary meeting of the "double reduction" work special coordination mechanism. The meeting requested that we must unswervingly strengthen the supervision of off-campus training, do a good job in classified management, do a good job in the management of off-campus training during the critical summer vacation, and comprehensively and in-depth solve the problems of training quality, safety, and price.
5. The State Administration of Financial Supervision responded to the reporter's question on the "Implementation Measures for Administrative Licensing Items of Non-banking Financial Institutions (Draft for Comment)" and stated that in terms of opening-up measures, the first is to cancel the restriction that foreign non-financial institutions cannot be investors of financial asset management companies; the second is to cancel the total asset requirements for overseas financial institutions to be investors of financial asset management companies;
6. The relevant person in charge said that in the first half of this year, my country's foreign exchange market showed strong resilience. Statistics show that in the first half of the year, the total foreign-related income and expenditure of my country's banks on behalf of customers exceeded US$6 trillion, which was the second highest level in the same period in history. my country's cross-border capital flows are stable and orderly, and the supply and demand in the foreign exchange market are basically balanced. The Chinese bond market is an important choice for foreign investors to invest globally.
// Industry //
1. As of the end of June, the total number of mobile phone users of the three basic telecommunications companies reached 1.71 billion, a net increase of 26.53 million over the end of the previous year. Among them, 5G mobile phone users reached 676 million, accounting for 39.5% of mobile phone users, an increase of 6.2 percentage points compared with the end of the previous year.
2. In order to meet the needs of textile enterprises for cotton use, it has been decided after research that the 2023 cotton tariff quotas and preferential tariff rate import quotas will be issued in the near future. This time, 750,000 tons of cotton non-state trade import slip tax quotas will be issued, and the trade method will not be limited.
3. Chen Guanghua, the person in charge of the Animal Husbandry and Veterinary Bureau, said that the current hog production is still growing inertially, and the consumption growth is sluggish. There is no basis for a sharp rise in hog prices in the short term. In the next step, we will focus on three tasks. The first is to strengthen early warning, continue to strengthen production monitoring and early warning; the second is to reduce costs, carry out practical technical training and on-site guidance for saving costs and increasing efficiency; the third is to prevent epidemic diseases, and continue to do a good job in the normalization of African swine fever prevention and control.
4. The General Administration of Sports issued the "Work Plan on Restoring and Expanding Sports Consumption". The "Plan" introduced 16 specific measures, covering three dimensions: increasing the supply of high-quality sports products and services, enriching sports consumption scenarios, and consolidating the foundation of sports consumption.
5. The National Medical Insurance Administration announced the "Negotiating Drug Contract Renewal Rules" and "Non-Exclusive Drug Bidding Rules". The "Renewal Rules for Negotiating Drugs" proposes that negotiating drugs that have reached 8 years are included in the regular catalog management; for negotiating drugs that have not reached 8 years, if the continuous agreement period reaches or exceeds 4 years, if the contract is renewed in a simple way or new indications trigger a price reduction, the reduction will be halved.
6. The Shanghai Communications Commission has decided to suspend the acceptance of services related to the online booking of taxi transport certificates in Shanghai. In the next step, the municipal road transportation authority will track and evaluate the capacity scale of the online car-hailing industry, and scientifically regulate the taxi capacity in combination with the compliance work of online taxi reservations. The resumption time and specific requirements of related businesses will be notified separately.
03/ Subscription for new shares of Asia business investment consultant
New shares (including Beijing Stock Exchange): Jinkai Biotech, Changhua Chemical
New convertible bonds: Haiwan Convertible Bonds, Xingrui Convertible Bonds
New stocks listed on Monday: Boying Special Welding, Guangge Technology
Convertible bonds listed on Monday: None
Reference materials: Financial Associated Press, Wind Information
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