"DefenseAfter the policy of "stopping the disorderly expansion of capital" has been changed, the "national team" of capital is expanding in an orderly manner, taking on the important task of "activating the capital market", and effectively topping the outflow of foreign capital to save the market weakness.
On December 1, Guoxin Investment Company, a subsidiary of China Guoxin with total assets of 100 billion yuan, increased its holdings in the CSI Guoxin Central Enterprises Technology Index** and announced that it will continue to increase its holdings in the future. Guoxin Investment is a "national team" that focuses on serving the high-quality development of listed companies of central enterprises and investing in strategic emerging industries in the capital market.
The day before, on November 30, Chinese Life and Xinhua Insurance announced that they planned to jointly invest 25 billion yuan to jointly initiate the establishment of a private placement*** From the information disclosed by both parties, the ** is a pilot **, the period is 10+n years, the initial filing period is 10 years, and after the expiration of the 10-year period, it can be extended by changing the filing method. This is an innovation in the equity investment of insurance capital, which intends to invest in high-quality listed companies in the secondary market for a long time, and broadens the investment scope and means of insurance companies. It is expected that more similar ** will be established in the future.
Before that, there were two entries by Huijin: on October 11, it increased its holdings in the four major banks, and on October 23, it increased its holdings in ETFs. He also said that he would continue to increase his holdings
Analysts pointed out that many forces of the national team have entered the market, and the targets of the increase in holdings have changed from the four major banks, to the blue-chip ETF that supports the bottom, and then to the central enterprise + science and technology theme index, which shows the offensive power of the national team's capital and the strong national will.
The offensive of the "national team" of capital coincides with the large-scale outflow of foreign capital.
According to CICC's research data, the proportion of foreign investment in the third quarter was the lowest since 2017: overseas asset management institutions (active + passive) held US$670.1 billion in the third quarter, a decrease of US$27 billion from the second quarterAmong them, the value of Chinese capital held by U.S. asset management institutions decreased by 34% to $326 billion, the lowest since 2015.
This data is consistent with relevant financial reports. Since August, more than $24 billion of foreign capital has withdrawn from China's A-shares, the report said.
"The country's advance and foreign retreat" is tantamount to a financial war between China and foreign countries.
At present, the active momentum of the capital market is accumulating simultaneously at the inlet end and the exit end of funds. At the entrance end, policies such as halving stamp duty, reducing the proportion of financing margin, and guiding long-term funds to enter the market are conducive to attracting incremental funds into the marketOn the export side, policies such as tightening the pace of IPOs and refinancing in stages and regulating the behavior of shares are conducive to improving the activity of stock funds. On August 27, the Ministry of Finance, the State Administration of Taxation and the China Securities Regulatory Commission played a "combination punch" to activate the capital market, halving the stamp duty, tightening the pace of IPO and refinancing in stages, standardizing the behavior of shares, and reducing the proportion of financing margins.
Extended reading:
Those who are bearish and short-sung will be punished even if they are far away.
Article 25 "sends a strong signal: policy turn, increase."