Macro
[With the head version: Hainan's open model is more important than preferential policies]
According to the economic reference headline edition, from the 30-year development history of Hainan, if there is no institutional breakthrough in the island economy, only the preferential policies will promote development, and the effect is very limited. Taking the island tax exemption policy as an example, the construction of an international shopping center is one of the positioning of the development of an international tourist island. However, it has not yet achieved substantial problems. The tax exemption, tax-free areas and tax-exempt people are still strictly limited. Therefore, Hainan should take the opening first and institutional innovation as the core, and form a "Hainan model" that is different from other free trade zones.
[CSI front page: increasing interest rate downward resistance]
The front page of the China Securities Journal stated that under the pattern of rising US dollar interest rates and exchange rates, emerging markets are once again facing capital outflow pressure. From the perspective of managing exchange rate expectations and stabilizing capital flows, it is still necessary to maintain a “comfortable†Sino-US spread. Recently, China's bond market yield has gone through a round of downside. If the US dollar continues to strengthen, it will further increase the bond market's downward rate.
[Securities Times Comment: Strong US dollar pushes up local risk, RMB exchange rate is still stable]
From mid-April to the present, the renminbi has fallen slightly against the US dollar, but the weighted index has been upward. In the short-term, there is no obvious factor that is not conducive to the renminbi in terms of remittance sales. In the medium term, under the tension of Sino-US economic and trade relations, the depreciation of the renminbi does not have a policy basis. If necessary, the 3 trillion foreign exchange reserves will be stable. power. While blocking foreign exchange running, taking, dripping and leaking, the main factors that will affect the exchange rate in the future will be the current account and those desirable capital projects. The space for asset transfer has been squeezed, no longer affecting. The important strength of the exchange rate, the overall exchange rate of the RMB exchange rate is still stable.
[CDR related supporting rules are being researched and developed, involving the pricing and other details]
The Measures for the Administration of Issuance and Trading of Depositary Receipts are open for public comment. The industry expects that CDR will have a higher probability of landing in the second half of the year. At present, the supporting rules concerning CDR issuance pricing and subscription rules, whether it can be freely exchanged with basic securities, corporate screening mechanism, investor protection and other issues are being studied and formulated, and it is expected to be introduced in the next two or three months. (China Securities Network)
[Listing bank loans related to housing totaled more than 24 trillion yuan to develop loan brakes, mortgage loan deceleration]
According to the exclusive statistics of the 2017 annual report of listed banks, the total amount of housing loans of 26 A-share listed banks last year was 24.1 trillion yuan, an increase of 17.62% from 20.49 trillion yuan at the end of last year. Among them, the growth rate of development loans was 11.32%; the growth rate of mortgage loans was 19.37%. In 2016, the property market was hot, and the reason behind the market summary was that “there was too much moneyâ€. Judging from the 2017 data, the growth rate of mortgage loans has dropped significantly due to the restrictions on regulation and other means. Last year, a number of bank branches appeared in the “government-related†and “land-related†credit approvals. (Securities Daily)
market
[Listed companies have smashed mines and this year, the bond market has defaulted more than 10 billion yuan]
According to incomplete statistics, from the beginning of the year to today (7th), 19 bonds have been defaulted in China, including Sichuan Coal, Dalian Machine Tool, Dandong Port, Yiyang Group, Zhongcheng Construction, Shenwu Environmental Protection, Fugui Bird, Spring Nearly 10 companies, including the Group and Zhongan Consumer, have a total amount of more than 13 billion yuan. (Wall Street sees)
[138 million shareholders hold 1.3 stocks, low-priced large-cap stock investors the most]
According to the latest data, the current total number of shareholders of A-share listed companies is about 180 million, while the data from China's settlement shows that as of April 27, the number of investors was 138 million. Roughly calculated, the per capita shareholding is only 1.3. Investors (small and medium investors) whose securities account assets were less than 500,000 yuan last year accounted for 75.1%, a decrease of about 2 percentage points from 2016. Since the second half of last year, the A-share market has fluctuated greatly, and most small and medium-sized investors have chosen to wait and see. Coupled with the tightening of financial supervision, the style of hot money trading has gradually converged. On the other hand, the vacancy of a large number of A-share accounts may also be one of the reasons for the “1.3 per capita shareholdingâ€. At the same time, low-priced large-cap stocks have become the most concentrated target for investors. (Shanghai Securities News)
[Foreign foreign investment in April increased the total holdings of Chinese bonds to the highest level ever]
As China's bond market hit its biggest gain in more than two years, foreign investors increased their holdings of onshore Chinese bonds by a record margin last month. According to data from the Central Clearing House, foreign investors bought a net of 66.4 billion yuan ($10.4 billion) in Chinese bonds in April, bringing the total holdings to an unprecedented 1.15 trillion yuan. Last month's holdings hit a maximum since the data in 2014, more than three times the net increase in 20.7 billion in March. (Sina Finance)
[The new regulations for asset management break the rigid redemption, and banks have stopped selling guaranteed wealth management products]
A few days ago, the boots of the new regulations for asset management finally landed. The one that attracted attention from everyone in the new regulations was to break the rigid payment of wealth management products. Since May 1st, some small and medium-sized banks have stopped selling guaranteed-type wealth management products in advance, and at the same time intensified efforts to promote large-value deposit receipts, structured deposit products, and even wage wars. In addition, although some state-owned large banks and city commercial banks are still selling guaranteed-type wealth management products and closed-end wealth management products within 90 days, they have also begun to control the amount of sales and lengthen the period. (Securities Daily)
[Chinese version of the public offering REITs framework emerges, the fastest pilot in the second half of the year]
The launch of the Chinese version of public real estate investment trusts (REITs) is getting closer and closer. Some insiders pointed out that from the time point of view, it is expected that the first half of this year or next year will be piloted in the long-term rental apartment and infrastructure sector. The basic framework is likely to be the model of real estate securities investment fund plus ABS. (China Securities Journal)
the company
[Insurance 2017 performance list: more than 60% of the profit 35 losses of over 100 million]
As of May 6, a total of 80 property insurance companies and 75 family insurance companies (excluding pension insurance) released the latest annual report. According to incomplete statistics, 33 property insurance companies and 27 life insurance companies performed poorly, with losses in 2017. Among them, 35 insurance companies lost more than 100 million yuan. (Daily Economic News)
[Dun'an Group's debt crisis spread to its listed companies: Jiangnan Chemical's 210 million fundraising has been delayed by the bank's deduction.
On the evening of May 7, the two listed companies of Dunan Group, Dunan Environment and Jiangnan Chemical, issued announcements. The former announced that the United Credit Rating Co., Ltd. will include the company's two debt credit ratings in the list of possible downgrade credit ratings. Jiangnan Chemical said that it received a letter of intent from the Hangzhou Bank Hefei Branch, which deducted 210 million yuan from the tripartite supervision account of the company's raised funds on the evening of May 3. (Daily Economic News)
[Olympus Shenzhen factory announced that the suspension of production and shutdown employees said the termination compensation plan negotiation]
On the afternoon of May 7, there were media reports that the Olympus Shenzhen factory was about to stop production and stop working. The "Daily Economic News" reporter immediately rushed to Olympus (Shenzhen) Industrial Co., Ltd. located in the North District of Nanshan High-tech Industrial Park in Shenzhen. The reporter noticed at the scene that there were a number of security guards at the factory entrance, and several employees were taking photos at the factory door. A factory employee told the reporter, "On the afternoon of May 7, the company officially announced to the whole staff that the Shenzhen factory was shut down due to broadcasting, but the specific compensation plan for the departure has not yet come out." (Daily Economic News)
[Beishengyuan "slimming" excessive market value, slimming performance, pre-loss, plan to increase the operating capital of "enrichment"
On May 7, Besunyen issued a profit warning announcement for the first half of 2018. It is expected to have a net loss of approximately RMB 20 million to RMB 30 million in the first half of the year. Besunyen only achieved a profit of 4.08 million yuan last year. Shi Lichen, founder of Dingchen Medical Consulting, told the reporter of "Daily Economic News" that Besunyen is currently experiencing operational difficulties, and the company may break through the dilemma by changing its product mix and transforming its distribution business model. (Daily Economic News)
International
[Technology stocks shine brightly, US stocks rise collectively]
On Monday, the S&P 500 index closed up 9.21 points, or 0.35%, to 2672.63 points. The Dow Jones Industrial Average closed up 94.81 points, or 0.39%, to 24357.32 points. The Nasdaq Composite Index closed up 55.60 points, up 0.77%. , reported 7265.21 points. Apple closed up 0.72% to 185.16 US dollars, hitting a new record high for the second consecutive trading day. The market value of (issued shares) was 903.55 billion US dollars; Amazon closed up 1.21% to 1600.14 US dollars, the first time since the IPO in 1997, it closed at 1600. The dollar is above the psychological barrier. Google's parent company Alphabet closed up 0.8%, Facebook closed up 0.77%, Microsoft closed up 1.11%, Nvidia closed up 4.02%, Netflix closed up 1.93%, AMD closed up 2.75%, Intel closed up 1.04%. (Daily Economic News)
[The media said that Europe and the United States on the Iranian nuclear agreement close to consensus oil prices fell sharply]
Israeli media reported on the 7th that diplomats from France, Germany, the United Kingdom and the United States approached a consensus on the Iranian nuclear deal. Cloth oil once fell below $75, and the gains narrowed from less than 1.7% at the close to less than 0.3%. WTI crude oil futures fully retreated earlier in the day and turned down 0.3%. Trump previously announced the announcement of the Iranian nuclear agreement at 14 o'clock on Tuesday. (Wall Street sees)
[Buffett, Gates sings bitcoin, 10,000 dollars in water]
The world's two richest people simultaneously sing the future of bitcoin. On Monday, Microsoft founder Bill Gates said in an interview that if there is a chance, he will short the bitcoin. "As an asset, it can't produce anything. Bitcoin and the first token release ICO are completely crazy, purely speculative." On Saturday, Warren Buffett's shareholder meeting in Berkshire Hathaway The admiral compares Bitcoin to "rat medicine." Bitcoin fell more than 4% on Monday, trading near $9,300, and fell for the first time in four trading days. Bitcoin has risen nearly 50% in the past month, but the two big talks have caused the biggest digital currency to rebound and stop at $10,000. (First Finance)
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