1. The State Council recently issued the "Opinions on Promoting the High-quality Development of Service Consumption", proposing 20 key tasks in 6 aspects. The "Opinions" proposes to guide financial institutions to increase credit support for key areas of service consumption. Strengthen the construction of national cultural and tourism consumption demonstration cities, promote the innovative and standardized development of national-level nighttime cultural and tourism consumption clusters, and implement better life vacation and leisure projects and rural tourism quality and efficiency improvement actions. Promote the integrated development of business, tourism, culture, sports and health, enhance the experiential and interactive nature of projects, launch various types of characteristic tourism products, encourage the development of new business formats such as cruise yachts, RV camping, and low-altitude flights, and support the development of integrated business formats such as "music + tourism", "performance + tourism", and "event + tourism".
2. The General Office of the State Council recently issued the "Work Plan for Accelerating the Construction of a Dual Control System for Carbon Emissions". The plan clearly proposes to incorporate carbon emission indicators into the national economic and social development plan, and requires the establishment and improvement of local carbon assessment, industry carbon control, enterprise carbon management, project carbon evaluation, product carbon footprint and other policy systems and management mechanisms.
3. Zheng Bei, deputy director of the National Development and Reform Commission, said at the press conference of the State Council Information Office on the 2nd that new urbanization is conducive to promoting consumption and investment to achieve a virtuous cycle, and contains huge domestic demand potential. It is estimated that an increase in the mainland's urbanization rate by 1 percentage point can increase consumer demand by more than 200 billion yuan per year. According to preliminary estimates, an increase in the mainland's urbanization rate by 1 percentage point can boost the demand for trillions of new investment.
4. The People's Bank of China held a work conference for the second half of 2024 to study and implement the spirit of the Third Plenary Session of the 20th CPC Central Committee. The meeting required that the debt risk resolution of financial support financing platforms should be done in a solid manner. Prevent and resolve real estate financial risks, implement the 300 billion yuan affordable housing re-lending policy, and promote the acceleration of the establishment of a housing system that combines rental and purchase. Promote the establishment of a risk disposal mechanism with equal rights and responsibilities and compatible incentives, and actively and steadily promote the disposal of stock risks.
5. On August 2, the State Administration of Financial Supervision issued the "Notice on Improving the Pricing Mechanism of Life Insurance Products" to the industry, which clarified that from September 1, the predetermined interest rate of newly filed ordinary insurance products will be capped at 2.5%, and the relevant liability reserve assessment interest rate will be implemented at 2.5%; Starting from October 1, the predetermined interest rate of newly filed participating insurance products will be capped at 2.0%, and the relevant liability reserve assessment interest rate will be implemented at 2.0%; The maximum minimum guaranteed interest rate for newly filed universal insurance products is 1.5%, and the interest rate for the assessment of relevant liability reserves is 1.5%.
6. The Shanghai Stock Exchange has formulated and completed the Three-Year Action Plan for Index Business (2024-2026). It is an important measure to further enhance the competitiveness of local index influence, promote the recognition and acceptance of the indexation investment concept by more investors, and guide incremental funds to continue to flow into the market through index products, which is an important measure to promote the high-quality development of the capital market and promote the balance of investment and financing.
7. The Shenzhen Low-altitude Economy High-quality Development Conference was held on August 2. It is reported that Shenzhen will focus on promoting the integration of information infrastructure synaesthesia, accelerate the deployment of low-altitude synaesthesia 5G-A test base stations, and achieve full coverage of low-altitude communication and monitoring. Accelerate the establishment of low-altitude economic industry funds, and support the development of low-altitude economic industries in the whole cycle and the whole chain. Focusing on the low-altitude industry to supplement and strengthen the chain, in-depth services for enterprises and institutions on the chain, and promote Shenzhen to accelerate its progress towards the "first city of low-altitude economy".
8. On August 2, the National Press and Publication Administration updated the approval information for imported online games in 2024, adding 15 new games. This batch of edition numbers involves a number of listed companies, mainly Tencent Holdings' "Rainbow Six" and "Paper Mario: Origami King"; NetEase's "Marvel Brawl" and "Marvel's Ultimate Reversal"; Gigabit's Thunder Games' "Cairo Omnipotentiary"; Shengtian Network's "True · Three Kingdoms Matchless World"; Zhongqingbao's "Tattered Sailor".
9. On August 2, a large number of fines reappeared on the official website of the State Administration of Financial Regulation. A total of 9 banking institutions were fined, with a total fine of 13.1 million, and 28 relevant responsible persons were also fined. In this round of penalties, loan business violations have once again become the "hardest hit area" for banks.
1. *ST Yaxing announced that the controlling shareholder proposed that the company take the initiative to terminate the listing by resolution of the general meeting of shareholders. After the termination of the listing is approved by the general meeting of shareholders, it is proposed that the controlling shareholder will provide cash options to other shareholders of A shares.
2. 360 announced that the controlling shareholder was dissolved and liquidated, and 46.14% of the shares held by it will be distributed to shareholders through non-transaction transfer.
3. The Industrial Fortune Federation announced that the net profit in the first half of the year increased by 22.04% year-on-year.
4. Muyuan Co., Ltd. announced that the net profit in the first half of 2024 was 829 million yuan, a year-on-year turnaround.
5. 6 Lianban Aerospace Chenguang announced that the company's product revenue applied to the commercial aerospace field accounts for a relatively small proportion.
6. Tasly announced that the controlling shareholder of the company will be changed to China Resources Sanjiu, and the stock will resume trading.
7. 4 days and 3 boards Xingwang Yuda announced that the company's satellite communication and inertial navigation are all key technologies for unmanned driving.
8. BAA Development announced that due to the false records in the 2021 annual report, it received a prior notice of administrative punishment, and the stock will be subject to other risk warnings.
9. At the 18th review meeting of the Listing Review Committee of the Shanghai Stock Exchange in 2024, the initial listing application of Scantech (Hangzhou) Co., Ltd. was deliberated and approved on August 2, and no further implementation was required. As a result, Scantech has also become the first company to plan for IPO on the Science and Technology Innovation Board after the China Securities Regulatory Commission issued the "Eight Articles of the Science and Technology Innovation Board" and revised the evaluation indicators of science and technology innovation attributes.
CITIC Securities: Policy measures still need to be implemented, and price signals still need to wait
CITIC Securities pointed out that looking forward to August, the policy has entered the implementation stage, the price signal inflection point has not yet arrived, and the market still lacks incremental funds, but the global high-risk asset turmoil in the context of A-shares is relatively safe, and the market is expected to continue to grind the bottom, and the annual level market will only appear after the price signal is clear. 1) From the perspective of the stage of the three major signals, the Politburo meeting in July fully clarified the policies for the second half of the year, and August is the most critical implementation period; The external signals are clearer, and the easing of RMB pressure has released policy space for domestic demand stimulus; However, the price signal has not seen an inflection point, and it is still necessary to wait. 2) From the perspective of market liquidity, the marginal impact of foreign capital on A-shares has increased significantly, but it is difficult to have a continuous inflow before the price signal is clear, there is a lack of incremental funds in China, the market still relies on Huijin to increase its holdings, and the global high-risk assets have fallen simultaneously, and RMB assets are relatively safe at a low level. 3) From the perspective of allocation, the dominant varieties in the report have responded in advance in terms of stock prices and institutional positions, and A-shares will still be in a state of grinding before the price signal is clear, and it is recommended to gradually switch to low-level varieties.
Everbright Securities: It is expected that the short-term market will continue to maintain bottom shocks
Everbright Securities Research Report pointed out that external uncertainty is the main reason for the recent sharp fluctuations in the A-share market. Given that external risks have not yet been fully cleared, it is expected that the short-term market will continue to maintain a bottom shock. However, external risks do not constitute a major contradiction for the time being, and the domestic steady growth policy has strengthened the signal, and the bottom support of the market is still solid, so investors do not need to worry too much about the short-term market. In terms of configuration, the support policies for the large consumption sector have been increased, and automobiles, home appliances, and cultural tourism are all beneficiary directions; The local geopolitical situation is heating up, and there may be thematic opportunities for gold and military industry; Technology stocks are affected by external uncertainties, and there may be adjustment pressure in the short term, but the value of medium-term allocation will not change.
Ping An Securities: The valuation of the pharmaceutical sector is at a low level after adjustment, and the investment cost performance is highlighted
Ping An Securities Research Report pointed out that at present, the mainland pharmaceutical industry as a whole is in a period of accelerated transformation, and the pace of industrial structure adjustment is accelerating. The recovery of innovation policies is expected to drive the continuous growth of the clinical CRO industry, the innovative drug industry has entered a new stage of R&D upgrading and international integration, and the marginal performance of relevant listed companies in the interim reporting period is improving, the valuation of the sector is at a low level after adjustment, and the investment cost performance is highlighted, and the pharmaceutical industry has room for improvement in profitability and valuation in the second half of the year.
1. Last Friday, the United States July non-farm report showed that the non-farm payrolls added 114,000 new jobs in July, significantly less than expected, and the unemployment rate rose to 4.3%, a new high in nearly three years, indicating that the United States labor market cooled faster than expected. After the data, the teams at Citigroup and JPMorgan Chase & Co. both expected the Fed to cut rates by 50 basis points each in September and November, with a further 25 basis points each starting at the December meeting. Fears of a recession intensified after the release of weak data, and the three major U.S. stock indexes collectively fell sharply, with the Nasdaq leading the decline with a decline of more than 2%. Big tech stocks fell en masse, with Intel falling 26%.
2. In response to the news that Nvidia's AI chip was exposed to be postponed, on August 4, Nvidia responded to reporters: "As we said before, the demand for Hopper is very strong, Blackwell's sample trials have been widely started, and production is expected to increase in the second half of the year." Other than that, we don't comment on rumors. "Previously, media reported that Nvidia's AI chip design flaws could delay the release by three months or more, affecting customers such as Meta, Google, and Microsoft.
3. On the evening of August 3, Beijing time, Warren Buffett's Berkshire disclosed a financial report showing that the company sold 49.4% of its shares in Apple in the second quarter, and the number of shares held fell from 789 million shares at the end of the first quarter to about 400 million shares at the end of the second quarter. Since mid-July, Buffett has also begun to reduce his second-largest holdings, Bank of United States, and Berkshire, which has reduced its holdings in Bank of United States for 12 consecutive trading days, during which it has reduced its holdings by 90 million shares and cashed out about $3.8 billion.
At stake in the situation in Lebanon, many countries urged citizens to leave
On August 4, local time, New Zealand Deputy Prime Minister and Foreign Minister Winston · Peters said: "The New Zealand government urges New Zealand citizens to evacuate Lebanon and Iran as soon as possible, while there is still a choice." At the same time, he said that New Zealand citizens in Israel are advised to consider whether they need to stay in Israel.
In addition, in view of the escalation of the conflict between the Israel and the Lebanon Allah Party, the Sweden Foreign Ministry recently announced the temporary closure of the embassy in Beirut, the capital of Lebanon, and the withdrawal of diplomatic personnel.
Previously, the New Zealand government raised the travel warning level for Lebanon to "extremely dangerous". The governments of United States, United Kingdom, Germany, Switzerland, Australia and other countries have also issued travel warnings, urging their citizens to leave or avoid travel to Lebanon.
According to multiple media reports, a number of international airlines, including United States Delta Air Lines and United Airlines, France Airlines, Germany Lufthansa, and Italy Airlines, have suspended flights to Beirut or Tel Aviv, Israel.
Korea's external reserves rose by $1.3 billion in July from the previous month
According to Yonhap News Agency, the Bank of Korea (central bank) said on the 5th that as of the end of July, Korea's foreign exchange reserves increased by $1.3 billion month-on-month to $413.51 billion.
According to the report, due to the new issuance of foreign exchange equalization fund bonds, the weakening of the US dollar led to changes in the valuation of non-US currencies, etc., the foreign exchange reserves in the current period have increased.
Among Korea's external reserve assets, securities increased by $3.07 billion from the previous month to $367.05 billion; reserve reserves decreased by $2.08 billion from the previous month to $22.35 billion; the International Monetary Fund (IMF) Special Drawing Rights (SDR) increased by $300 million to $14.95 billion; the IMF reserve position increased by $10 million to $4.37 billion; and gold reserves were unchanged from the previous month to $4.79 billion.
As of the end of June, Korea's foreign exchange reserves ranked ninth in the world with $412.2 billion.
The Falcon 9 launch vehicle lifted off to deliver cargo to the International Space Station
According to the Russia Satellite News Agency on the 4th, the live broadcast of the launch released by United States NASA showed that the Falcon 9 launch vehicle was launched in Florida with the "Cygnus" spacecraft and will deliver supplies to the International Space Station.
The launch of the launch vehicle from the Cape Canaveral cosmodrome was 11:02 a.m. East Coast time in United States. The launch was scheduled for the day before, but was postponed due to weather conditions.
The report mentions that the "Cygnus" unmanned spacecraft is mainly used to deliver food, basic necessities and materials for scientific experiments to the International Space Station. The ISS plans to conduct a series of experiments, including testing water treatment technology, producing stem cells in zero gravity, experimentally studying the effects of gravity on microbial DNA, the growth of liver tissue, and more.
Source: Xinhua News Agency, China-Singapore Jingwei, Finance Associated Press, China Securities Journal, Economic Daily, CCTV News, etc