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Important News Alert
The spokesperson of the Ministry of Commerce answered a reporter's question on the EU's vote to approve the final draft of the anti-subsidy case for electric vehicles, and the "China Dragon" ETF officially landed in the U.S. stock market, and Tencent, Alibaba, and NetEase are soliciting opinions from the public on the guidance on promoting the high-quality development of the data industry
Financial news
1. CCTV reporters learned from the National Data Bureau on October 4 that the guiding opinions on promoting the high-quality development of the data industry are being open to the public for comments. In the draft for comments, it is proposed to study and formulate the "Guidelines for the Construction of a National Data Standards System". The data industry is an emerging industry, which is formed by the use of modern information technology to develop products or services for data resources. In 2023, the scale of the national data industry will exceed 2 trillion yuan. The draft for comments mentions that it is necessary to cultivate data resource enterprises, strengthen data technology enterprises, support data service enterprises, optimize data application enterprises, develop data security enterprises, and expand data infrastructure enterprises. The goal proposed in the draft is that by 2029, the average annual compound growth rate of the scale of the mainland's data industry will exceed 15%, and the structure of the data industry will be significantly optimized.
2. On the fourth day of the National Day holiday, the traffic flow of the country's main highways continued to run at a high level. Judging from the traffic flow of 700 important passages of 73 expressways and 300 important passages of 53 national highways monitored by the Traffic Management Bureau of the Ministry of Public Security, the traffic flow on October 4 increased slightly compared with the previous day and increased significantly compared with the same period last year. As of 18:00 on October 4, the national road traffic safety situation was generally stable, and no major road traffic accidents were reported; The overall operation of the national road network is stable, except for the roads around the city, around tourist attractions and some road sections due to traffic accidents caused by congestion and slowing down in some periods, large-scale, long-term and long-distance serious traffic congestion has not been reported.
3. On the 4th local time, Eurostat announced the import data of high-tech products in the EU in 2023. The EU imported a total of 478 billion euros worth of high-tech products for the year, a slight decrease from 2022. Exports of high-tech products amounted to 461 billion euros. Data shows that in 2023, nearly one-third of the EU's high-tech product imports will come from China, accounting for 32%, with a total value of 155 billion euros. Electronic telecommunications equipment accounts for the largest share of the EU's high-tech imports from non-EU countries, and China is the largest partner. In addition, computer and office equipment and pharmaceutical products each accounted for 15 percent of high-tech imports, mainly from China and the United States, respectively.
4. According to the Ministry of Commerce, on October 4, representatives of EU member states voted to approve the final draft of the EU electric vehicle countervailing case submitted by the European Commission, which intends to impose final countervailing duties on electric vehicles originating in China. The Chinese side has taken note of the relevant reports. China firmly opposes the EU's unfair, non-compliant and unreasonable protectionist practices in this case, and resolutely opposes the EU's imposition on China's countervailing duties on China's electric vehicles.
5. With China's stock market rally, Chinese concept stocks are also in the spotlight on Wall Street. On October 3, Eastern time, a "China Dragon" ETF that tracks the performance of China's large technology companies landed on the U.S. stock market. The ETF, known as the Roundhill China Dragons ETF (symbol: DRAG), plans to track 5-10 of the largest and most innovative Chinese technology companies, with each underlying allocation weighted essentially the same, collectively referred to by issuers as "China Dragons". Currently, the ETF is constituent of nine companies: Tencent, Pinduoduo, Alibaba, Meituan, BYD, Xiaomi, JD.com, Baidu and NetEase. As of the close of U.S. stocks on October 4, China Dragon ETF rose 1.95%. It is worth mentioning that the ETF rose nearly 13% at one point during the pre-market trading session.
6. On October 4, the Shanghai Municipal Human Resources and Social Security Bureau, together with the Organization Department of the Municipal Party Committee, the Municipal Party Committee of Economic and Information Work, the Municipal Education Commission, and the Municipal State-owned Assets Supervision and Administration Commission, issued the Notice on Optimizing and Adjusting the Participation of College Graduates in the Recruitment (Employment) Work in the City. The "Notice" further relaxes the requirements for college graduates to apply for and apply for relevant positions in public institutions and state-owned enterprises in the city.
The "Notice" makes it clear that if a public institution in this city recruits fresh college graduates, it shall be open to college graduates who have not implemented the work within two years of the year of graduation certificate (including the year of graduation), and there is no restriction on whether they have work experience and social security payment; At the same time, when carrying out campus recruitment, local state-owned enterprises and central enterprises in Shanghai should combine the actual situation of the enterprise and open the school recruitment positions to college graduates within two years (including the year of graduation) in the year of graduation certificate, and there is no restriction on whether they have work experience and pay social security. In addition, the "Notice" stipulates that fresh college graduates who apply for the civil service examination in the city in the current year can choose to apply for the corresponding category of positions according to their grassroots work experience and other circumstances.
Company News
1. Dafeng Industry: According to the official account of "Dafeng" on October 4, on October 2, Feng Jialong, executive director of Dafeng Industry, and Hussein Musalaam, director general of the Olympic Council of Asia, jointly signed an exclusive cooperation agreement. Dafeng Industrial has been officially established as the exclusive partner in the field of creative planning and implementation of the opening and closing ceremonies of the Olympic Council of Asia (covering the Asian Games, Asian Winter Games, Asian Youth Games, Asian Paralympic Games and Asian Paralympic Games, etc.).
2. Zijin Mining, Kanzhun Technology, Conch Cement, and Xiaopeng Motors: According to the data disclosed by the Hong Kong Stock Exchange, on September 30, Zijin Mining was increased by JPMorgan Chase at an average price of HK$17.7961 per share by about 12.48 million shares, involving about HK$222 million. After the increase, JPMorgan Chase's latest holdings are about 431 million shares, and the shareholding ratio has increased from 6.98% to 7.19%.
On September 30, Kanzhun Technology, which operates the online recruitment platform Boss Zhipin, was increased by JPMorgan Chase to increase its holdings of about 2.02 million Hong Kong shares, with an average price of about HK$68.68 per share, involving about HK$138 million, and its shareholding ratio increased from 9.88% to 10.05%.
On September 30, JPMorgan Chase increased its holdings of 12,503,723 shares of Conch Cement at an average price of HK$22.9792 per share, with a total amount of about HK$287 million. After the increase, the latest number of shares held is about 84.874 million shares, and the shareholding ratio has increased from 5.56% to 6.53%.
On September 30, Xpeng Motors was increased by JPMorgan Chase at an average price of HK$52.6312 per share by about 12.15 million shares, involving about HK$639 million. After the increase, JPMorgan Chase recently held about 83.1 million shares, and the proportion of the position increased from 4.57% to 5.35%.
3. Innovent Biologics: According to data released by the Hong Kong Stock Exchange on October 4, Innovent Biologics was reduced by Yu Dechao, founder, executive director, chairman of the board of directors and chief executive officer, on September 30 and October 2, with a total amount of about HK$152 million. After the reduction, Yu Dechao's shareholding decreased from 7.90% to 7.70%, and the number of shares held decreased to about 125.97 million shares.