Xinhua Finance and Economics, Beijing, December 13 (Hu Chenxi) The three major stock indexes of Shanghai and Shenzhen collectively opened lower in the morning of December 13, and continued to consolidate weakly in early trading. From the perspective of the disk, the concept of state-owned enterprise reform stocks continued to break out, and more than 20 shares such as Nanjing Public, Nanning Department Store, Sichuan Jinding, and Pearl River Piano rose to the limitPharmaceutical stocks collectively strengthened, with the new crown drug leading the rise, Jinling Pharmaceutical, Nanjing Pharmaceutical, Zhejiang Zhenyuan, etcRobot concept stocks rose intraday, and Julun Intelligence, Keli Sensing, Klaus and other daily limits. **In terms of liquor, food and other consumer stocks fell into adjustment, and Luzhou Laojiao fell nearly 5%;c battery concept fell, Junda shares fell more than 6%;Lithium stocks fell, and Xingyuan Materials fell more than 5%.
On the Beijing Stock Exchange, the Beijing Stock Exchange 50 Index rose in early trading on the 13th, up nearly 4%. * In terms of Huayuan shares and Tianfang Standard, the daily limit is 30%, and MicroPort Optoelectronics and Senxuan Pharmaceutical are up more than 20%.
As of midday**, the Shanghai Composite Index was down 048% at 2989At 15 o'clock, the turnover was 198.8 billion yuan;The Shenzhen Component Index fell 073% at 9555At 08 o'clock, the turnover was 277.5 billion yuan;The GEM index fell 090% to 188676 points, with a turnover of 123.7 billion yuan.
Hot Plates
On the disk, chemical pharmaceuticals, automation equipment, gas, influenza, new industrialization, sensors and other sectors and concept stocks were among the top gainersMedical manufacturing, hotels and catering, aquaculture, liquor, BC batteries, short dramas and games and other sectors and concept stocks were among the top decliners.
Institutional perspectives
CICC: China's monetary injection may have entered a new stage, with the importance of credit lending money declining and the importance of fiscal currency gradually rising. The change in the mode of money delivery is not a short-term phenomenon, because behind it is the structural adjustment of the economic growth momentum, which is more consistent with the logic of the change in the economic structure in the downward stage of the financial cycle. The change in the way money is delivered means that more attention should be paid to social finance, M1, lending rates and private financing rates in the existing indicators, and the indicative significance of credit growth may be relatively weakened.
Xingye**: Large models have brought new growth in basic software tracks such as vector databases and network security. As one of the core elements of large models, efficient data processing will greatly reduce the training and inference costs of large amounts of data, and among many types of databases, vector databases in the non-relational database category (MongoDB) minimize data training and inference costs in generative AI scenarios through vector similarity computing. At the same time, with the accelerated expansion of AI commercial applications, the importance of security in the use of data and models may become more and more prominent.
IFC**: In view of the high sustainability and stability of the demand of the pharmaceutical sector, the outstanding long-term growth value, and the clearing of the suppressive factors of the pharmaceutical sector, from the second half of 2023 to 2024, the pharmaceutical industry is expected to usher in a big inflection point of economic reversal, ending the three-year downward cycle and entering the upward trend**, it is recommended to focus on three major directions: Epitaxial mergers and acquisitions and commercial BD opportunities with low valuation and cost-effective targets in the hospital and pharmaceutical sectors (innovative and generic drugs, high-value consumables, in vitro diagnostics, some medical equipment, etc.).
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Han Wenxiu: The opportunities for China's economic development outweigh the challenges
On December 13, at the 2023-2024 China Economic Annual Conference held at the China Center for International Economic Exchanges, Han Wenxiu, deputy director of the Finance Office in charge of daily work and director of the Agricultural Office, said that China's economic development is facing many favorable conditions and important opportunities. Han Wenxiu said that China's macro policy space is still sufficient, the price level is low, the debt level is not high, and there is still a lot of room for fiscal policy and monetary policy. This year, China will issue an additional 1 trillion yuan of treasury bonds, introduce a package of plans to resolve local debt risks, reduce the deposit reserve ratio, etc., and these policy effects will continue to be released next year.
National Health Insurance Administration: 126 new drugs have been added to the list of medical insurance drugs
The National Health Insurance Administration announced that the adjustment of the national basic medical insurance, work-related injury insurance and maternity insurance drug catalogue in 2023 has been successfully completed. In this adjustment, a total of 126 drugs have been added to the national medical insurance drug list, and 1 drug has been transferred out of the list. 143 drugs outside the catalogue participated in the negotiation or bidding, of which 121 drugs were successfully negotiated or bidd, with a negotiation success rate of 846%, with an average price reduction of 617%, the success rate and ** decline are basically the same as in 2022. After this round of adjustment, the total number of drugs in the national medical insurance drug list has reached 3,088, including 1,698 Western medicines and 1,390 Chinese patent medicinesThere are still 892 kinds of Chinese medicine decoction pieces.
The central bank launched a 7-day reverse repurchase operation of 265 billion yuan today
The central bank launched a 7-day reverse repurchase operation of 265 billion yuan today, and the winning interest rate was 18%, the same as before. There are 240 billion yuan of reverse repurchase due today.
Editor: Hu Chenxi.
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