Today's attention //
1. The Ministry of Finance reported eight typical cases of implicit debt accountability of local governments
2. China Securities Association: Securities companies should sincerely apologize to the affected party in the event of a cybersecurity incident, and negotiate and compensate according to the actual losses
3. The mandatory national standard for electric bicycles is revised: the maximum design speed should not exceed 25km/h
4. The European Union is reported to warn Apple to open up the iPhone operating system, otherwise it will face a huge fine
5. Hefei set up a joint investigation team in response to the "three sheep" incident
Macro Policy //
1. The Ministry of Finance reported eight typical cases of implicit debt accountability of local governments
The Ministry of Finance reported eight typical cases of implicit debt accountability of local governments. The Ministry of Finance said that it will earnestly fulfill its main responsibility for financial and accounting supervision, and achieve "discovery, investigation and accountability" for new hidden debts and false debts and other violations of laws and regulations, continue to strengthen the investigation and accountability of hidden debts, and effectively prevent and resolve hidden debt risks.
2. National Development and Reform Commission: Strengthen policy pre-research reserves and timely launch a number of incremental policy measures with strong operability, good effect, and tangible for the masses and enterprises
The National Development and Reform Commission said that it will promote the implementation of the "two new" policy measures to ensure that the preferential treatment of real money reaches enterprises and the people. At the same time, we will strengthen policy pre-research reserves, and launch a number of incremental policy measures that are highly operable, effective, and accessible to the masses and enterprises in a timely manner.
3. State Administration for Market Regulation: Focus on key areas and crack down on monopoly and unfair competition behaviors such as unfair high prices, designated transactions, and false publicity in accordance with the law
Luo Wen, director of the State Administration for Market Regulation, said that we will further deepen the reform of market supervision in an all-round way to help high-quality economic and social development, focusing on the major relationships between efficiency and fairness, vitality and order, development and security. Intensify the regulation and law enforcement of fair competition, focusing on key areas and severely cracking down on monopolistic and unfair competition acts such as unfair high prices, designated transactions, and false publicity in accordance with the law. Strictly manage the compliance of enterprises with fair competition, and guide enterprises to strengthen compliance construction.
4. Policies have promoted the large-scale development of the western region to form a new pattern, and some western provinces have begun to study and draft relevant development policy documents
The western provinces have already begun to study and draft policy documents to further promote the large-scale development of the western region to form a new pattern, and after the relevant national plans are promulgated, they will put forward specific measures in light of the spirit of the documents, and submit them to the provincial party committee and the provincial government for printing and implementing them. Among them, the Sichuan Provincial Office for the Implementation of the Western Development revealed that in the next step, the relevant state departments will also study and put forward targeted policy measures, and Sichuan will carefully sort out and dock national policies and measures in accordance with the deployment arrangements of the provincial party committee, and continue to vigorously promote the implementation.
China Bond Alert //
1. Tahoe Group: Involved in a number of major litigation and enforcement cases
Tahoe Group Co., Ltd. has recently been involved in a number of major litigation and enforcement cases, including but not limited to Orient Asset Management Company's demand for repayment of principal and restructuring gains, and Ming Miao's claim for repayment of advances and interest. The amount of money involved in the case is huge, with a maximum of 2.567 billion yuan.
2. Wuhan Tianying Investment Group: The guarantor of the corporate bonds added the subject matter of execution, the final principal case, restricted consumption and failed to pay the principal and interest of "H21 Contemporary 2" on time
Wuhan Tianying Investment Group Co., Ltd. announced that the corporate bond guarantor Contemporary Group added a new case of final execution, and at the same time, Contemporary Group has recently had a record of restricted consumption, and Contemporary Group failed to pay the principal and interest of "H21 Contemporary 2" on time. The company reminds investors to pay attention to the relevant risks on the above matters, and the company will do a good job of information disclosure in a timely manner, actively arrange the repayment of mature bonds, and protect the legitimate rights and interests of investors as much as possible.
3. Kaifeng City Investment: Outside directors are under investigation on suspicion of violating discipline and law
Kaifeng City Operation and Investment Group Co., Ltd. announced that the website of the Kaifeng Municipal Commission for Discipline Inspection of the Communist Party of China and the Kaifeng Municipal Supervision Commission reported: "Song Songwei, the former chairman of Kaifeng Water Development and Construction Co., Ltd., is suspected of serious violations of discipline and law, and is currently undergoing disciplinary review and supervision investigation by the Kaifeng Municipal Commission for Discipline Inspection and Supervision." Song Songwei is an outside director of Kaifeng City Operation Investment Group Co., Ltd.
4. Shengyan Industry: The company and its subsidiaries have been newly restricted from high consumption
Ningxia Shengyan Industrial Group Co., Ltd. and its subsidiary, Ningxia Shengyan Industrial Group Energy Circular Economy Co., Ltd., were recently restricted from high-consumption behavior by the People's Court of Pingluo County, Shizuishan City, Ningxia Hui Autonomous Region, involving Wang Dongxing and Yang Wenmao. Nevertheless, the Company declares that its current production and operation conditions are normal, and the above restrictions have not had a significant impact on the Company's operations and financial condition.
5. Shangdu Chengtou: issued a warning letter by the Henan Securities Regulatory Bureau due to untimely disclosure of major matters
Luoyang Shangdu City Investment Holding Group Co., Ltd. was issued a warning letter by the Henan Securities Regulatory Bureau due to untimely disclosure of major matters and irregular bond issuance. The company said it had submitted a written rectification report and said that the regulatory measures are not expected to have a material adverse impact on the company's production and operation, financial condition and solvency.
6. Wei Debin, deputy general manager of Guangxi Rural Investment Group Co., Ltd., was reviewed and investigated
According to the website of the Central Commission for Discipline Inspection and the State Supervision Commission, according to the Guangxi Zhuang Autonomous Region Commission for Discipline Inspection and Supervision, Wei Debin, deputy general manager of Guangxi Rural Investment Group Co., Ltd., is suspected of serious violations of discipline and law, and is currently undergoing disciplinary review and supervision investigation by the Autonomous Region Commission for Discipline Inspection and Supervision.
China Stock Alert //
1. Xinli Financial: The controlling shareholder is planned to be changed to Huilong Investment
Xinli Financial announced that the company recently received a notice from Xinli Science and Technology Innovation that Xinli Science and Technology intends to transfer a total of 121 million shares of Xinli Financial to Huilong Investment. After this change in equity, Huilong Investment will directly hold 121 million shares of the company, accounting for 23.60% of the company's total share capital, and become the controlling shareholder of the company, and the actual controller of the company is still the Anhui Supply and Marketing Cooperative Association.
2. Zoomlion: Terminate the spin-off subsidiary Zoomlion High-tech through the reorganization and listing of Luchang Technology
Zoomlion announced that in view of the great changes in the current market environment compared with the beginning of the planning of the spin-off, in order to effectively safeguard the interests of the company and the majority of investors, after full consideration and prudent argumentation with relevant parties, the company decided to terminate the spin-off subsidiary Zoomlion through the reorganization and listing of Luchang Technology.
3. Ruichuang Micro-Nano: Ma Hong, the actual controller and chairman of the company, was released from lien
Ruichuang Micro-Nano announced that the company recently received the "Notice of Lifting of Lien" issued by the National Supervision Commission, and the National Supervision Commission has lifted the retention measures against Ma Hong, the company's controller, chairman and general manager, and Ma Hong resumed his duties. At present, the company's production and operation are normal.
4. *ST Meishang: The stock will be delisted on September 20
*ST Meishang announced that the company received the "Decision on the Termination of the Listing of Meishang Ecological Landscape Co., Ltd." issued by the Shenzhen Stock Exchange on September 13, 2024. The Company's shares will be delisted on September 20, 2024. According to the relevant regulations, the company shall do a good job in a timely manner after the stock is terminated from listing, so as to ensure that the company's shares can be listed and transferred to the two network companies and delisted companies established by the National Small and Medium-sized Enterprises Share Transfer System Co., Ltd. relying on the original securities company's agency share transfer system within 45 trading days after the delisting.
5. *ST Yaxing: The Shanghai Stock Exchange accepts the company's application for voluntary termination of listing
*ST Yaxing announced that the company intends to voluntarily withdraw the listing and trading of A-shares on the Shanghai Stock Exchange by resolution of the general meeting of shareholders, and instead apply for transfer in the national small and medium-sized enterprise share transfer system. The company submitted an application for termination of listing to the Shanghai Stock Exchange on September 13, 2024, and received a notice of acceptance from the Shanghai Stock Exchange on September 19. The termination of listing has been deliberated and approved by the general meeting of shareholders of the company on August 26, 2024.
6. Xingmin Zhitong: Due to illegal reduction, the major shareholder Sichuan Shengbang Chuangheng was criticized by the Shenzhen Stock Exchange
The Shenzhen Stock Exchange disclosed that Sichuan Shengbang Chuangheng Enterprise Management Co., Ltd., the major shareholder of Xingmin Zhitong Company, was given a notice of criticism for reducing its holdings of Xingmin Zhitong shares by means of block trading from June to August 2023 exceeding the prescribed limit, violating the relevant regulations of the Shenzhen Stock Exchange.
7. Lianchuang shares: Li Hongguo, the controlling shareholder, received a warning letter from the Shandong Securities Regulatory Bureau for information disclosure violations
Lianchuang Co., Ltd. announced that Li Hongguo, the controlling shareholder, actual controller and then chairman of the company, was issued a warning letter by the Shandong Securities Regulatory Bureau for supervision and management measures due to information disclosure violations, and recorded in the integrity file database of the securities and futures market.
8. Acquisition of Audi Brussels? NIO said it had no response for the time being
According to First Finance, NIO said that there is no response to the news of the planned acquisition of Audi's Belgium factory. Recently, it was reported that NIO is in talks to buy Audi's factory in Brussels, Belgium, and will make an offer to the Volkswagen Group by next Monday. The plant is Audi's first electric vehicle plant and is mainly responsible for the Audi Q8 e-tron. Due to sluggish sales, Audi is planning to restructure its Brussels plant, which has been in a state of shutdown since the beginning of September. Earlier it was also reported that Audi is looking for a new investor for the plant.
Overseas Warning //
1. Novo Nordisk responded to the case of illegal online sales of semaglutide: actively supported government regulators to take effective law enforcement actions
Novo Nordisk said that up to now, the company's semaglutide product approved and commercially marketed in China is Novotech, and the approved indication is adult type 2 diabetes. In China, Novo Nordisk does not sell Novo Nordisk on any online platform (including e-commerce, social platforms, etc.), nor does it authorize or entrust any third party to sell the drug on online platforms. Novo Nordisk said that the company also actively monitors the production and sale of potentially counterfeit, infringing and other illegal drugs sold or circulated in the market, and actively supports government regulators to take effective enforcement actions.
2. The European Union is reported to warn Apple to open up the iPhone operating system, otherwise it will face a huge fine
Apple is about to receive a warning from the European Union that it will open up its highly protected iPhone operating system to competitors or face a hefty fine, according to people familiar with the matter. EU regulators will announce under the newly enacted Digital Markets Act that the California-based company must comply with new strict rules that allow the operating system to be fully compatible with other technologies. While the announcement has not yet been officially investigated, the EU's goal is to force Apple to redesign its services to allow competitors access to the iPhone's operating system.
3. The U.S. House of Representatives voted down a temporary government appropriation bill
The United States House of Representatives voted 220 against and 202 in favor of rejecting Republican Speaker Mike · Johnson's temporary government appropriations bill. Fourteen Republicans and the vast majority of Democrats voted against the bill, while three Democrats voted in favor. It is reported that the bill extends government funding until March 28, 2025, and it also includes a measure aimed at cracking down on illegal voting, requiring proof of citizenship when registering to vote in federal elections, which is opposed by many Democratic lawmakers.
Financial Interbank Warning //
1. China Securities Association: Securities companies should sincerely apologize to the affected party in the event of a cybersecurity incident, and negotiate and compensate according to the actual losses
The China Securities Association recently issued the "Demonstration Case of Public Opinion Handling of Cybersecurity Incidents of Securities Companies" to securities firms to further improve the response mechanism of cybersecurity incidents in the securities industry. The "Model Case" requires that if a securities firm has a cybersecurity incident, if it does cause losses to customers due to cybersecurity incidents, it shall accurately assess, negotiate solutions with customers in a timely manner, and obtain customer understanding as soon as possible. For customers who have no actual evidence to prove the damage, we should also respond positively, fully communicate, enhance customers' trust and support for the company, and rebuild good customer relationships. In addition, after the occurrence of a cybersecurity incident, the brokerage sincerely apologized to the affected party according to the actual situation. If the actual loss to the stakeholders is caused by its own fault, the securities company shall negotiate and compensate according to the actual situation.
2. The China Securities Association issued new regulations on the handling of public opinion on cybersecurity incidents of securities firms, and securities firms need to fully protect investors' right to know
The China Securities Association recently issued the "Demonstration Case of Public Opinion Handling of Cybersecurity Incidents of Securities Companies" to securities firms to further improve the response mechanism for cybersecurity incidents in the securities industry, and its scope of application includes responding to and handling news reports or WeChat, Weibo, forums, Tieba reposts caused by cybersecurity incidents on the network, or relevant information that may have a significant impact on the network security of securities companies. The "Model Case" points out that the handling of public opinion on cybersecurity incidents adheres to the principles of prudent handling, rapid disposal, customer first, and timely reporting. Securities firms should fully protect the right of investors and other stakeholders to know the progress of the incident, and promptly publish relevant information to customers, such as the situation of the incident, the affected functions and customer groups, the progress of repair, the telephone number of customer inquiries, etc., do not deliberately conceal or mislead, and enhance customer trust and guide the benign development of the situation with a responsible attitude, positive actions and effective communication.
3. U.S. dollar deposits have entered the interest rate reduction channel, and the 5% interest rate high has gradually disappeared
According to Yicai, the Federal Reserve decided to lower the target range of the federal funds rate to 4.75% to 5% on September 19, Beijing time, which is equivalent to a reduction of 50 basis points in the interest rate spread. After the interest rate cut is implemented, many commercial banks will continue to reduce the US dollar deposit interest rate in the future. In fact, before the interest rate cut landed, a number of commercial banks had "rushed" to cut the US dollar deposit rate. Judging from the current situation of US dollar deposit interest rates in the market, the interest rate of more than 5% in the past has gradually disappeared, and the US dollar deposit interest rate has also entered a downward channel.
4. The Dealers Association publicly condemned the placement of the fund
The National Association of Institutional Investors reported on its official website that in November 2023, in the process of bookbuilding and issuance of debt financing instruments of an issuer, the placement fund participated in the bond subscription at a high multiple for the purpose of improper demand, and cancelled the subscription before the end of bookbuilding, which seriously interfered with the bookkeeping manager and investors in judging the true market situation and undermined the market order. In accordance with the relevant self-discipline regulations of the inter-bank bond market, the inter-bank bond fund was publicly reprimanded after the preliminary review and review of the self-discipline meeting.
5. The performance of many products has failed, and how to break the situation of pension financial management with a scale of more than 100 billion?
According to Yicai, as of the end of August this year, a total of 51 pension wealth management products have been issued in the whole market, with an amount of more than 100 billion yuan and 470,000 investors. However, since the beginning of this year, there is only one pension wealth management product with a yield of more than 4%, with a yield of 4.58%, and 27 pension wealth management products have a yield of less than 2% this year; More than 70% of products have lost yield in the past month.
Industry Warning //
1. When it comes to the "white list project" of real estate, the Supreme People's Court issued a clear document
According to China Real Estate News, the Supreme People's Court recently issued a new document to support the financing and construction delivery of real estate "whitelist projects". It points out that when the people's courts freeze or deduct the funds in the bank accounts of real estate enterprises and related enterprises, they should pay attention to review and screening. Accounts and funds such as new loans and M&A loans issued by institutions to support the construction of whitelisted projects shall not be frozen or deducted for reasons other than the continuation of the project.
2. The mandatory national standard for electric bicycles is revised: the maximum design speed should not exceed 25km/h
The Ministry of Industry and Information Technology, together with the Ministry of Public Security, the Ministry of Emergency Management and other departments, has publicly solicited opinions on the latest revision of the "Safety Technical Specifications for Electric Bicycles", and the "new national standard" has made some improvements and upgrades. In order to ensure the safety of riding, the test method of rated power and maximum speed of the motor is optimized, and the maximum design speed does not exceed 25km/h, and the functions of Beidou positioning and real-time communication are also added.
3. Hefei set up a joint investigation team in response to the "three sheep" incident
The Hefei Municipal Administration for Market Regulation informed that in response to the recent problems related to the Three Sheep Network Technology Co., Ltd. reflected on the Internet, the Hefei Municipal Market Supervision Bureau has established a joint investigation team with the Bureau of Commerce, the Public Security Bureau and other departments to verify and deal with them in accordance with laws and regulations, and resolutely safeguard the legitimate rights and interests of consumers.
4. State Administration for Market Regulation: It is strictly forbidden to produce and sell "special liquor"
The State Administration for Market Regulation recently issued the "Announcement on Strictly Prohibiting the Production and Sale of "Special Liquor". The "Announcement" clarifies that the scope of "special liquor" is to falsely label or publicize specific names, symbols, landmark buildings, official activities and other information closely related to party and government organs and the military, and "special liquor" is counterfeit and shoddy liquor.
5. Ten departments: strive to further open up the blocking points of power lithium battery transportation by 2027
The Ministry of Transport, the State Railway Administration and other ten departments issued a number of measures to accelerate the improvement of the transportation service and safety guarantee capacity of new energy vehicle power lithium batteries, and strive to further open up the blocking points of power lithium battery transportation by 2027, steadily improve transportation efficiency, further optimize the comprehensive transportation structure, and greatly improve the level of transportation safety and security, ensure the safety and stability of the supply chain of new energy vehicles and power lithium battery industry chain, and fully support the high-quality development of the economy in order to better serve the "new three" of foreign trade. Accelerate the construction of a new development pattern to provide strong support.
6. Guangzhou standardizes the release of housing information on stock housing
The Guangzhou Real Estate Intermediary Industry Association issued the "Notice on Regulating the Publication of Stock Housing Information" to optimize and adjust the rules for the release of stock housing information on the platform. The main contents of the new regulations include: real estate intermediaries and their employees shall obtain the written consent of the parties concerned in the release of housing rental and sales information, and if there is a transaction after the release of housing rental and sales information, the parties revoke the entrustment or the entrustment period expires, etc., the entrusted information shall be deleted immediately.
Review of historical articles
"Global Sprint Interest Rate Cut"
Red Flag! Gold Crash", "Cash is King", "Major Variables Are About to Be Revealed!" "The Dollar Collapsed"
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