01/ Asia Business Investment Consultants Morning Guide
1. The Central Committee of the Communist Party of China and the State Council issued opinions on promoting the development and growth of the private economy
2. Ministry of Commerce: Study measures to support new energy vehicles in developing international markets
3. China Semiconductor Industry Association issued a statement: Maintaining the global development of the semiconductor industry
02/ Asian Investment Consultants News Breakfast
// Spotlight //
1. The Central Committee of the Communist Party of China and the State Council issued opinions on promoting the development and growth of the private economy. The opinions require optimizing the development environment of the private economy, protecting the property rights of private enterprises and the rights and interests of entrepreneurs in accordance with the law, comprehensively building pro-Qing political and business relations, promoting the private economy to become bigger, better, and stronger, and making positive contributions in the new journey of comprehensively building a modern socialist country. It will shoulder greater missions, assume greater responsibilities, and play a greater role in the historical process of the great rejuvenation of the Chinese nation.
2. Vice Minister Guo Tingting said that we will study and support new energy vehicles to explore the international market, improve the development level of processing trade, implement practical measures such as facilitating business personnel to apply for visas, resume and increase international flights, and successfully organize the International Import Expo, Canton Fair, and service trade fairs and other important exhibitions. Zhu Bing, director of the Department of Foreign Investment Management, said that we will promote the rational reduction of the negative list for foreign investment access and further cancel or relax restrictions on foreign investment access. The "Measures for the Administration of Strategic Investments by Foreign Investors in Listed Companies" were revised to further relax restrictions on foreign investors' strategic investments in listed companies.
3. In the first half of the year, the national general public budget revenue was 11,920.3 billion yuan, a year-on-year increase of 13.3%. Among them, tax revenue was 9,966.1 billion yuan, a year-on-year increase of 16.5%; non-tax revenue was 1,954.2 billion yuan, a year-on-year decrease of 0.6%. Stamp duty amounted to 211.5 billion yuan, a year-on-year decrease of 14.6%. Among them, stamp taxes on securities transactions were 110.8 billion yuan, a year-on-year decrease of 30.7%.
4. The China Semiconductor Industry Association issued a statement on maintaining the global development of the semiconductor industry. China's semiconductor industry is rooted in globalization and grows and expands with globalization. We will always adhere to open cooperation and work with all industry colleagues from all countries and regions around the world who are willing to cooperate to safeguard the globalization of the semiconductor industry and promote governments/authorities to support international cooperation in the semiconductor industry. At the same time, China's semiconductor industry will continue to innovate, continuously improve its competitiveness, and develop together with global partners.
5. It was learned from sources that Micron President and CEO Sanjay Mehrotra visited the Chinese Ministry of Commerce on July 19. Previously, Micron announced in June that it planned to invest more than 4.3 billion yuan in its packaging and testing factory in Xi'an, China, in the next few years. According to Micron’s official website, Sanjay Mehrotra said that this investment project demonstrates Micron’s unwavering commitment to China business and Chinese team members.
// Global Market //
1. The three major U.S. stock indexes closed slightly higher. The Dow rose 0.31% to 35061.21 points, recording its eighth consecutive day of gains. The S&P 500 rose 0.24% to 4565.72 points, and the Nasdaq rose 0.03% to 14358.02 points. Verizon Telecom rose 5.28% and Salesforce rose 2.92%, leading the Dow Jones Industrial Average. The Wind U.S. TAMAMA Technology Index fell 0.05%, Google fell 1.4%, and Tesla fell 0.71%. Most Chinese concept stocks rose, with Shanda Technology rising by 24.21% and Zhongyang Financial rising by 11.38%.
2. The three major European stock indexes closed with mixed gains. Germany's DAX index fell 0.1% to 16108.93 points, France's CAC40 index rose 0.11% to 7326.94 points, and Britain's FTSE 100 index rose 1.8% to 7588.2 points.
3. International oil prices fell slightly, with the U.S. oil September contract falling 0.36% to US$75.39 per barrel. Brent oil September contract fell 0.15% to US$79.51 per barrel.
// Macro //
1. Spokesperson Zhao Zhiguo said at the press conference that stabilizing growth will be given a more prominent position. Accelerate the implementation of policies to promote automobile and household consumption, and step up the formulation and implementation of work plans to stabilize growth in ten key industries such as automobiles, electronics, and steel. Strengthen planning guidance and policy guidance, deepen strategic cooperation between ministries and provinces, and actively support major industrial provinces in taking the lead.
2. Publicly solicit opinions on the "Notice on Strengthening Terminal and Network Collaboration to Support the Scale Development of 5G Messages" (Draft for Comments). It pointed out that mobile phone manufacturers should complete the system design and functional upgrade of the 5G mobile phones planned to be launched in accordance with industry standards related to 5G messaging and network access testing specifications. After the transition period, the 5G mobile phones newly applied for network access licenses by mobile phone manufacturers must support 5G messages and provide relevant network access test reports.
3. Wei Yan, deputy director of the Department of Taxation, said at the press conference on fiscal revenue and expenditure in the first half of 2023 that the next step is for the Ministry of Finance to strengthen policy reserves in response to changes in the situation on the basis of implementing a number of policies that have been introduced this year. , actively plan targeted, pragmatic and effective tax and fee preferential policies, focus on relieving the difficulties of business entities, continuously enhance development momentum, optimize the economic structure, and promote the continued recovery of the economy.
4. Wang Yi, member of the Political Bureau of the CPC Central Committee and director of the Foreign Affairs Office of the CPC Central Committee, met with former US Secretary of State Kissinger in Beijing. Wang Yi said that China cherishes the friendship it has established with its old friends. Kissinger said that both the United States and China have the ability to influence the world. Maintaining stable relations between the United States and China is related to world peace, stability and human welfare. No matter how difficult it is, both sides should treat each other as equals and maintain contact. It is unacceptable to try to isolate or isolate the other side.
5. As of the end of June, the country’s cumulative installed power generation capacity was approximately 2.71 billion kilowatts, a year-on-year increase of 10.8%. Among them, the installed capacity of solar power generation is approximately 470 million kilowatts, a year-on-year increase of 39.8%; the installed wind power capacity is approximately 390 million kilowatts, a year-on-year increase of 13.7%.
6. After strengthening by more than 1,000 points the previous week, the RMB exchange rate continued to correct this week. On July 19, the onshore RMB against the U.S. dollar fell below 7.20 and 7.21 successively, with a maximum drop of more than 400 points. The offshore RMB against the U.S. dollar once fell below 7.22, falling by more than 300 points. Experts said that due to the influence of economic data, the pressure for RMB depreciation is still increasing, and it will be difficult for the technical trend to decline in the short term.
// Industry //
1. Spokesperson Zhao Zhiguo stated at the press conference that we will further accelerate the high-quality development of my country’s computing power. Continue to promote the construction of computing infrastructure. Issue policy documents to guide the high-quality development of computing infrastructure, increase the supply of high-performance intelligent computing, strengthen the deployment of advanced storage products, carry out computing network optimization actions, and accelerate the construction of an integrated, multi-functional cloud-edge-device collaboration and computing, storage and operation integration. A layered computing power infrastructure system.
2. At a press conference held by the Ministry of Finance, the relevant person in charge of the Ministry of Finance introduced the specific content of the extension and optimization of the new energy vehicle purchase tax reduction policy, and clarified that the new energy vehicle purchase tax reduction policy will be extended to the end of 2027.
3. This week, the price range of domestic N-type materials is 70,000-82,000 yuan/ton, and the average transaction price is 76,000 yuan/ton, with a week-on-week increase of 2.01%; the price range of single crystal dense materials is 63,000-74,000 yuan/ton. , the average transaction price was 67,400 yuan/ton, a week-on-week increase of 2.59%. The silicon material market continued to rise this week, with P-type silicon material rising more than N-type silicon material. This is mainly because downstream companies have recently signed large orders to maintain high production. However, P-type silicon material currently accounts for more than 80% of the silicon material market. Therefore, in the short term Rising due to demand.
4. A flexible display glass developed by the team of Academician Peng Shou of the Chinese Academy of Engineering is only 0.03 mm thick. This kind of glass is often used in folding screen mobile phones. Based on the calculation of folding 100 times a day, flexible glass that can support millions of bends without breakage can allow folding mobile phones to be used for more than 27 years. This is also a new world record created by Academician Peng Shou’s team.
5. Entering July, many new energy car owners in Zhengzhou said that almost all new energy charging stations of different brands in Zhengzhou have experienced price increases. Compared with the "late night period" when they are the cheapest on weekdays, charging after the price increase Fees have nearly doubled. Zhengzhou is not the only place where the price of charging at charging piles has increased. Car owners in Shanghai, Zhejiang and other places have also found that charging fees at public charging piles have increased.
6. There are rumors in the market that starting from August 1, insurance companies will stop selling personal insurance products with interest rates higher than 3%. We have learned from multiple insurance companies, individual insurance channels, and bancassurance channels that the above rumors are true, which also means that the 3.5% predetermined interest rate personal insurance product that has attracted much market attention before will officially bid farewell at the end of July.
03/ Asia Business Investment Consultants new stock subscription
New shares (including Beijing Stock Exchange): Fuljia
New convertible bonds: Yubang convertible bonds, Kaineng convertible bonds
New stocks listed on Thursday: Zhixin Precision, Kangpeng Technology, Jinbo Biotechnology
Convertible bonds listed on Thursday: Lihe Convertible Bonds
Reference materials: Financial Associated Press, Wind Information
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