Today's attention //
1. The new tools of the central bank have landed! The first phase of 500 billion yuan will enhance the internal stability of the capital market
2. Highlight the principle of equal treatment, and the draft law on the promotion of the private economy is open to the public for comments
3. The Shanghai Stock Exchange held a symposium on securities companies again: continue to deepen the market-oriented reform of mergers and acquisitions
4. A-shares have started the "siphon effect", and some cross-border ETFs have suffered large redemptions
5. Many banks have issued guidelines! The existing housing loans in Beijing, Shanghai and Shenzhen were uniformly reduced to LPR-30BP
6. The fourth phase of 300 million yuan of Wanda Commercial Management equity transfer money has not yet been received, and Yonghui Supermarket intends to initiate arbitration against Wang Jianlin and others
7. United States' September CPI exceeded expectations across the board, and the progress of inflation decline stalled
Macro Policy //
1. Highlight the principle of equal treatment, and the draft law on the promotion of the private economy is open to the public for comments
The Ministry of Justice and the National Development and Reform Commission solicited public comments on the "People's Republic of China Private Economy Promotion Law (Draft for Solicitation of Comments)". The draft consists of 9 chapters and 77 articles, making provisions in terms of fair competition, investment and financing, scientific and technological innovation, standardized operation, service guarantees, protection of rights and interests, and legal liability, so as to better give play to the role of the rule of law in consolidating the foundation, stabilizing expectations, and benefiting the long-term, and creating a legal environment and social atmosphere conducive to the common development of all forms of economic ownership, including the private economy. Chapter 2, "Fair Competition" and Chapter 3, "Promotion of Investment and Financing," highlight the principle of equal treatment and effectively ensure that private economic organizations enjoy equal legal status, market opportunities, and development rights with other types of economic organizations.
2. National Bureau of Statistics: Decided to organize and carry out a nationwide sample survey on population changes in 2024
The National Bureau of Statistics announced that in order to accurately and timely monitor and reflect the development and changes of the mainland's population, and provide a basic basis for the Party and the state to formulate national economic and social development plans and population-related policies, the National Bureau of Statistics has decided to organize and carry out a sample survey of population changes in 2024 nationwide. The standard time point for the survey is 0:00 on November 1, 2024. The on-site working time is from October 10th to November 30th.
3. China has decided to take countermeasures against three United States military enterprises and 10 senior managers
The Ministry of Foreign Affairs issued a decision on taking countermeasures against United States military-industrial enterprises and senior managers. Freeze movable property, immovable property and other types of property in the mainland for the three enterprises listed in the "Countermeasures List", including the Edge Autonomous Operating Company, Huntington · Ingalls Industrial Company, and Skaudio Company; Organizations and individuals within the territory of the mainland are prohibited from engaging in relevant transactions, cooperation, and other activities with them.
China Bond Alert //
1. Qingdao Haikong Group: Cancel the issuance of "24 Qingdao Haikong MTN004 (Science and Technology Innovation Notes)"
Qingdao West Coast New Area Marine Holding Group Co., Ltd. announced that in view of the recent market volatility, it intends to cancel the issuance of "24 Qingdao Haikong MTN004 (Science and Technology Innovation Notes)". The company will re-issue at the right time, and if there is any new development, the company will disclose it in a timely manner, so please pay attention to investors.
2. Yibin Development Holding Group: Cancel the issuance of "24 Yibin Development MTN004"
Yibin Development Holding Group Co., Ltd. announced that in view of the recent market volatility, the company decided to cancel the issuance of "24 Yibin Development MTN004" after consultation with the bookkeeping manager, and the cancellation of the issuance arrangements will be notified separately.
3. Wuhan Contemporary Technology Industry Group: 23.7% of the company's shares in Humanwell Pharmaceutical were frozen
Wuhan Contemporary Technology Industry Group Co., Ltd. announced that 23.7% of the company's shares in Humanwell Pharmaceutical were frozen.
4. Two bond projects on the Shanghai Stock Exchange were terminated, with a total amount of 1.14 billion yuan
The Shanghai Stock Exchange recently terminated the review of 2 bond projects, with a total amount of 1.14 billion yuan, including ABS and private placement. Among them, the status of the "Jianghai-Daan Escort Security Service Charge Revenue Right Asset-backed Special Plan" project has been updated to terminated. The proposed issuance amount of the bonds is 640 million yuan, the issuer is Dalian Daan Escort Co., Ltd., the underwriter/manager is Jianghai Securities, and the acceptance date is December 22, 2023. The status of the project "Sichuan Anhan Industrial Investment Group Co., Ltd. 2024 Non-public Issuance of Corporate Bonds to Professional Investors" has been updated to terminated. The proposed issuance amount of the bonds is 500 million yuan, and the underwriters/managers are Zhongshan Securities and Capital Securities, and the acceptance date is March 25, 2024.
5. 15 Chunhe CP001: After the default, the company went bankrupt and reorganized, and the actual controller Liang Xiaolei was sentenced
ICBC, as the lead underwriter of "15 Chunhe CP001", announced the follow-up progress of the default from August 23, 2024 to September 28, 2024. Chunhe Group has completely ceased operations, and the actual controller Liang Xiaolei has been sentenced. The Ningbo Jiangbei District People's Court accepted the bankruptcy application of Chunhe Group and appointed Zhejiang Hechuang Law Firm as the bankruptcy administrator. The bankruptcy administrator has recruited investors interested in reorganization and completed the asset auction.
6. The meeting of holders of "22 Weining Investment MTN003" and other holders did not take effect
Haitong Securities announced that the second meeting of holders of Nanning Weining Investment Group Co., Ltd. "22 Weining Investment MTN003" and "22 Weining Investment MTN004" in 2024 has not taken effect.
China Stock Alert //
1. The mainland's first monetary policy tool to support the capital market was implemented
The central bank announced that it decided to create a "securities, funds, and insurance company swap facility (SFISF)" to support qualified securities, funds, and insurance companies to exchange high-grade liquid assets such as treasury bonds and central bank bills from the People's Bank of China with bonds, stock ETFs, CSI 300 constituent stocks and other assets as collateral. The scale of the first phase of operation is 500 billion yuan, and the scale of operation can be further expanded according to the situation. From now on, qualified securities, funds and insurance companies will be accepted to declare. According to people close to the central bank, the swap facility period is not more than one year, and an extension can be applied for after expiration; The scope of collateral may be expanded in the future as appropriate.
2. Take multiple measures to activate the M&A and restructuring market: the Shanghai Stock Exchange once again held a symposium for securities firms, striving to open up the "last mile" of policy implementation
The Shanghai Stock Exchange once again held a symposium for securities firms to publicize the spirit of the latest M&A and restructuring policies on the spot, and listened to opinions and suggestions on further activating the M&A and restructuring market and opening up the "last mile" of policy implementation. Eight securities firms, including CITIC Securities, CICC, China Securities Construction Investment, Huatai United, Guotai Junan, Guosen Securities, Orient Securities and GF Securities, attended the meeting. The relevant person in charge of the Shanghai Stock Exchange said that under the guidance of the regulatory authorities, the Shanghai Stock Exchange will continue to deepen the market-oriented reform of mergers and acquisitions, continuously improve various systems and mechanisms, strengthen market communication and services, promote more open, transparent and predictable supervision, and jointly create a good market ecology that supports high-quality industrial mergers and acquisitions. It is hoped that securities companies will earnestly assume the role of "gatekeepers", improve their professional capabilities and practice quality, strengthen value judgment while meeting compliance requirements, and control the quality of mergers and acquisitions.
3. The fourth phase of 300 million yuan of Wanda Commercial Management equity transfer money has not yet been received, and Yonghui Supermarket intends to initiate arbitration against Wang Jianlin and others
Yonghui Supermarket announced that according to the "Supplementary Agreement to the Transfer Agreement" signed between the company and Dalian Yujin, the payment of 300 million yuan for the fourth phase of Wanda Commercial Management should be completed before September 30, 2024. As of the disclosure date of the announcement, the company has not received the transfer money, and the buyer Dalian Yujin has not fulfilled its payment obligations as agreed, which has constituted a breach of contract. The company has issued an accelerated expiration notice letter to Dalian Yujin, Wang Jianlin, Sun Xishuang and Dalian Yifang Group Co., Ltd., requiring Dalian Yujin to pay the company immediately, and asking Wang Jianlin, Sun Xishuang and Dalian Yifang Group Co., Ltd. to bear joint and several guarantee liability. At the same time, the company will file an arbitration with the Shanghai International Economic and Trade Arbitration Commission to investigate the legal liability of Dalian Yujin, Wang Jianlin, Sun Xishuang and Dalian Yifang Group Co., Ltd.
4. Zhizheng shares: It is planned to place assets related to semiconductor packaging materials, and the stock is suspended
Zhizheng shares announced that the company is planning asset replacement, issuing shares and paying cash to purchase assets and raise matching funds, the proposed assets are mainly engaged in the research and development, production and sales of semiconductor packaging materials, and the proposed assets are 100% equity of the company's subsidiary Shanghai Zhizheng New Materials Co., Ltd. The company's shares have been suspended since October 11, and the suspension is expected to last no more than 10 trading days.
5. SWS: The director was sentenced to criminal detention for drunk driving
SWS announced that Ren Yingxiang, the company's director, deputy general manager and core technical personnel, was sentenced to two months of criminal detention, suspended for three months, and fined 6,000 yuan for the crime of dangerous driving.
6. ST Beauty Valley: The company was changed to no actual controller
ST Meigu announced that it received a letter from its controlling shareholder, Shenzhen Aoyuan Kexing Investment Co., Ltd., that the shareholding structure of China Aoyuan has changed, and China Aoyuan has no controlling shareholder. Therefore, Aoyuan Kexing has no actual controller, and the actual controller of the company has been changed from Guo Ziwen to no actual controller.
7. Emma Technology: Zhang Jian, the actual controller, chairman and general manager, was detained
Emma Technology announced that the company recently received a notice from the family of Zhang Jian, the actual controller, chairman and general manager, that on October 9, it received a notice issued by the Chengde Municipal Supervision Commission that Zhang Jian was detained and placed on file for investigation. As of the disclosure date of the announcement, the company has not received any notice from the relevant authorities and has not been required to assist in the investigation.
8. *ST Yaxing: The company's shares are terminated from listing, and the delisting date is October 17
*ST Yaxing announced that the company received the "Decision on the Termination of the Listing of Yangzhou Yaxing Bus Co., Ltd." made by the Shanghai Stock Exchange, and the Shanghai Stock Exchange decided to terminate the listing of the company's shares. The company's shares will be terminated and delisted on October 17, 2024.
9. Huaxi Energy: Received a notice from the Shenzhen Stock Exchange to criticize the punishment decision
Huaxi Energy announced that the company received the "Punishment Decision" issued by the Shenzhen Stock Exchange on October 9, because there was a large difference between the company's 2023 annual performance forecast and the audited net profit disclosed in the annual report, which violated relevant regulations. The Shenzhen Stock Exchange decided to give the company and its chairman Li Renchao, chief financial officer Meng Haitao, and then president Mao Jihong the punishment of circulating criticism.
10. ST Xudian: The company's shares will be delisted on October 11
ST Xudian announced that the company's shares have been terminated by the Shenzhen Stock Exchange and will be delisted on October 11.
Overseas Warning //
1. United States CPI rose 2.4% year-on-year in September, higher than market expectations
United States September CPI exceeded expectations across the board, indicating that the recent trend of easing price pressures has stalled. United States CPI rose 2.4% year-on-year in September, the sixth consecutive month of decline, the lowest since February 2021, estimated to rise 2.3%, the previous value of 2.5%; United States CPI rose 0.2% month-on-month in September, with an estimate of a 0.1% increase and a previous 0.2% increase. United States core CPI rose 3.3% year-on-year in September, the highest since June, estimated to rise 3.2%, and the previous value rose 3.2%; United States core CPI rose 0.3% month-on-month in September, with an estimate of a 0.2% increase and a 0.3% increase in the previous month.
2. Toronto-Dominion Bank is rumored to pay a $3 billion fine to settle with United States regulators and prosecutors
Toronto-Dominion Bank, accused of failing to properly monitor the money laundering activities of drug cartels, is expected to pay about $3 billion in fines as part of a settlement with United States regulators and prosecutors.
3. Nomura Securities was forced to withdraw from yen bond trading
Nomura was excluded from more than 10 yen bond transactions, for which it was the lead manager. Previously, the Japan Securities and Exchange Commission recommended a fine against the bank for allegedly manipulating the Japan government bond futures market in 2021. 10 institutions/companies, including Sumitomo Mitsui, Japan Finance, and Japan Housing Financial Institutions, have removed Nomura Securities from their yen bond transactions.
4. The Word of the Lord
Bernstein quantitative strategists said they downgraded India equities from neutral to underweight on expectations of continued capital outflows and weak earnings. In the wake of the recent stimulus measures, they reiterated their tactical overweight to China. India markets "have record-high valuations relative to China and emerging markets, so India markets seem to be quite fragile in the near term."
5. iPhone 16 series was cut order? Supply chain personnel: The overall production capacity is normal, and they are working overtime during the "Eleventh" holiday
Soon after the sale of the new iPhone, according to a number of information websites, Barclays Bank analysts Tim Long and George Wang recently pointed out in a report that the investigation of the iPhone 16 series supply chain found that Apple may have cut the production of the iPhone 16 series in the fourth quarter due to lower than expected demand, and the parts procurement data shows that the iPhone 16 series cut orders by about 3 million units. In this regard, the reporter of "Daily Economic News" contacted a supply chain person to understand the situation. He said: "I haven't seen any obvious changes, and the overall production capacity is normal at present, and (the 'Eleventh' holiday) is working overtime." ”
Financial Interbank Warning //
1. A number of banks issued announcements that the interest rate on existing housing loans was uniformly reduced to LPR-30BP
Industrial and Commercial Bank of China, Bank of Communications, China Merchants Bank, Shanghai Pudong Development Bank, Zheshang Bank, Industrial Bank and many other banks released frequently asked questions about the adjustment of interest rates for existing housing. If the current mortgage interest rate is higher than LPR-30BP, it will be adjusted to LPR-30BP. The first and second homes will be adjusted, ICBC has determined to adjust them on October 25, and other banks will complete the adjustment before October 31. If the mortgage interest rate is lower than LPR-30BP, it will not participate in this adjustment.
2. Regulatory requirements: Securities firms should remind investors to comply with the legal compliance of the source of funds entering the market
Recently, the number of new accounts opened in the market and the scale of financing have increased significantly, in order to promote the long-term healthy and stable development of the capital market, effectively protect the legitimate rights and interests of small and medium-sized investors, and do a good job in serving new investors. The regulatory authorities issued a notice to the securities firm, putting forward a number of requirements, the securities firm should recommend appropriate products or services according to the investor's investment years, investment experience and other factors, to ensure that the risk level matches the investor's tolerance, and shall not provide relevant services for unqualified investors in violation of regulations. In the process of marketing, securities firms and their employees shall not induce investors who are not willing to invest or do not have the corresponding risk tolerance to open accounts and participate in securities trading activities, and shall not directly or indirectly return commissions, give gift certificates or provide other non-securities business services to investors.
3. A-shares have started a "siphon effect", and some cross-border ETFs have suffered large redemptions
Recently, driven by a series of "combination punches" of stable growth policies, the A-share market has risen like a rainbow, and investors have entered the market with incremental funds. With the siphon effect of asset transfer, other cross-border ETFs that do not invest in the A-share market have begun to experience redemptions to varying degrees. According to Wind statistics, as of October 9, since September 24, 38 cross-border ETFs tracking major stock indexes such as the United States (excluding China concept stock ETFs, Hong Kong stock ETFs, and oil and gas ETFs) have redeemed a total of 1.893 billion shares, with an overall redemption ratio of 2.33%. Some ETFs in the United States, Japan, France and Asia-Pacific markets have redemption ratios of more than 10% in just a few days, and some products have redemption ratios of more than 20%.
4. Redemption concerns caused by the decline in the scale of wealth management sub-products? The interviewed institutions all denied that the decline in asset prices has attracted much attention
According to the Daily Economic News, a number of fund companies have announced large redemptions of their funds, most of which are pure bond funds, and the market has recently paid attention to the increased redemption pressure in the entire fixed income field compared with before. At the same time, the recent decline in the wealth management scale of wealth management subsidiaries has also attracted significant attention from the market, which is worried that such products will trigger a wave of redemptions.
5. The first penalty of supervision for "compliance of entrusted investment accounts", Allianz Life was fined 370,000 yuan
Since the newly revised Measures for the Administration of Entrusted Investment of Insurance Funds in 2022, it is the first time that the regulator has disclosed relevant cases of penalties for violations. On the evening of October 10, the website of the State Administration of Financial Supervision disclosed that Allianz Life Insurance Co., Ltd. was ordered to make corrections and fined 300,000 yuan by the Shanghai Supervision Bureau of the State Financial Supervision and Administration for "failing to track, monitor and analyze the compliance of entrusted investment accounts". At the same time, Zhang Guang, then head of the investment department of Allianz Life Insurance Co., Ltd., was given a warning and fined 70,000 yuan for being directly responsible for the relevant violations.
Industry Warning //
1. National Data Bureau: Strictly control the direct entry of original public data that has not been disclosed in accordance with laws and regulations into the market
The relevant person in charge of the National Data Bureau said that the state will strictly control the direct entry of original public data that has not been disclosed in accordance with laws and regulations into the market, and strictly prohibit operating institutions from using data beyond the scope without authorization. According to the relevant person in charge of the National Data Bureau, the "Opinions" make it clear that operating institutions should earnestly perform the main responsibility for data security and take necessary measures to ensure data security. In particular, for public data involving personal information, the Personal Information Protection Law should be strictly implemented, desensitized and anonymized, and the information rights and interests of individuals should be avoided.
2. National Data Administration: Supporting policies for the development and utilization of public data will be introduced soon
The relevant person in charge of the National Data Bureau said that resource registration is an important starting point for standardizing the management of public data resources, and the "Interim Measures for the Registration and Management of Public Data Resources" and the "Implementation Specifications for the Authorized Operation of Public Data Resources" have been drafted and completed, and the two supporting policies will be open to the public for comments within a week, and at the same time, it is also working with the National Development and Reform Commission to study and formulate relevant price policy documents, which will be issued in the near future.
3. The Anhui Real Estate Chamber of Commerce issued a proposal: calling on real estate companies not to blindly reduce prices and not to increase prices impulsively
Anhui Provincial Real Estate Chamber of Commerce advocates that real estate development enterprises, especially the head private enterprises, make full use of the time window such as "Golden Nine and Silver Ten", launch high-quality projects, provide high-quality services, and hold various promotional activities such as housing exhibitions and promotion meetings through a combination of online and offline, and actively respond to the promotional activities of commercial housing in 100 cities and thousands of enterprises, do not blindly reduce prices, do not impulsively increase prices, build a good purchase and sales platform for the majority of home buyers, and effectively promote the sales of commercial housing.
4. Da Mo: Hong Kong's retail rents fell in the third quarter quarter-on-quarter, and the office market is still facing structural risks
Morgan Stanley said that due to the weak retail sales, retail rents in Hong Kong fell by 3% month-on-month in the third quarter, and the decline in office rents widened, among which the decline in office rents in Central underperformed the market. Da Mo also said that Hong Kong people's outbound travel consumption continues to attract attention, but there is no short-term sign of peaking, while the office market is still facing structural risks.
Review of historical articles
"Three major directions of A-share capital influx"
"Heavy! The central bank shot, 500 billion is coming"
"Brokerage "Bull", how much more bull can it be? "It's set! The interest rate on the stock mortgage has been lowered", "Global solidarity stands in line! 》
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