Signal Positive!The National Financial Work Conference was held
From December 21 to 22, the National Financial Work Conference was held in Beijing. The meeting pointed out that in 2024, it is necessary to strengthen the counter-cyclical and cross-cyclical adjustment of macro policies, continue to implement active fiscal policies, and moderately strengthen and improve quality and efficiency.
Moderate afterburner, mainly to maintain appropriate expenditure intensity, release positive signals;Reasonably arrange the scale of investment and give full play to the amplification effectIncrease the intensity of balanced transfer payments, and firmly adhere to the bottom line of the "three guarantees" at the grassroots level;Optimize and adjust tax policies to improve accuracy and pertinence. Improving quality and efficiency is mainly in the implementation of the requirements of a tight life, optimizing the structure of fiscal expenditure, strengthening performance management, strict financial and economic discipline, enhancing fiscal sustainability, and strengthening policy coordination, so as to promote the legalization, scientificization, standardization, and standardization of financial management, and spend the same money to achieve greater results. (China ** Daily).
Central Bank: Promote the early implementation of the Financial Stability Law
The People's Bank of China (PBOC) released the "China Financial Stability Report (2023)", saying that it is necessary to focus on creating a good monetary and financial environment, always maintain the soundness of monetary policy, and better pay attention to cross-cyclical and counter-cyclical adjustment. Keep the RMB exchange rate basically stable at a reasonable and balanced level. Improve the macro-prudential management of real estate finance, meet the reasonable financing needs of real estate enterprises with different ownership systems without discrimination, and make good use of the policy toolbox according to the city's policies to build a new model of real estate development. We will give full play to the risk management function of deposit insurance, steadily promote the accumulation of financial stability guarantees, and the formulation of rules, promote the early introduction and implementation of the Financial Stability Law, and improve the long-term mechanism for maintaining financial stability. (Wind Information).
The six major state-owned banks officially announced interest rate cuts
The Postal Savings Bank of China issued an announcement in the early morning of December 23 to adjust the listed interest rate of RMB deposits. So far, the six major state-owned banks, including the Industrial and Commercial Bank of China, the Agricultural Bank of China, the China Construction Bank, the Bank of China, the Bank of Communications, and the Postal Savings Bank, have officially announced the reduction of the listed interest rate on deposits, with a reduction range of 10-25 basis points.
Experts said that the third cut in deposit rates by major state-owned banks this year will help improve the stability of banks' operations and help market sentiment pick up. At the same time, it is conducive to accelerating the transformation of savings into consumption and investment, and boosting consumer economic expectations. (CCTV).
The gaming industry will welcome the new norms
On December 22, the National Press and Publication Administration issued the "Measures for the Administration of Online Games (Draft for Solicitation of Comments)" to solicit public comments. The draft proposes that online games shall not set up inducing rewards such as daily login, first recharge, and continuous recharge, prohibit the speculation of virtual props, set user recharge limits, and provide "** services shall not induce excessive consumption." On Friday, the game sector of A-shares and Hong Kong stocks adjusted sharply, and a number of game companies said that they were studying the draft opinion, which may have an impact on domestic business. (Wind Information).
National Conference on Housing and Urban-Rural Construction: Make efforts to build good houses and create a new track in the field of housing
The National Conference on Housing and Urban-Rural Construction was held in Beijing from 21 to 22. The meeting pointed out that next year's work should persist in seeking progress while maintaining stability, promote stability with progress, and establish first and then break down. It is necessary to adhere to the positioning that houses are for living, not for speculation, and adapt to the new situation of major changes in the relationship between supply and demand in the real estate market. Stabilize the real estate market, adhere to city-specific policies, one city, one policy, and precise policies, meet the demand for rigid and improved housing, optimize real estate policies, continue to do a good job in ensuring the delivery of buildings, ensuring people's livelihood and stability, properly handle the risks of real estate enterprises, and rectify the order of the real estate market. Construct a new model of real estate development, establish a new mechanism for the linkage of "people, housing, land and money", improve the basic system of the whole life cycle of housing from development and construction to maintenance and use, implement the construction of the "three major projects", accelerate the solution of the housing problems of new citizens, young people and migrant workers, and make efforts to build good houses and create a new track in the housing field. (China ** Daily).
This week's capital market outlook
Important news that could affect the market this week are:
Macro aspectsOn December 27, the National Bureau of Statistics will release a monthly report on industrial economic benefits;On December 31, the monthly report on China's PMI will be released. Internationally, on December 26, Japan will release data on the unemployment rate for NovemberOn December 27, the United States will release a number of data for the week of December 22**, import and export of refined oil products, etc.;On December 28, Japan will release the industrial production index for November, and the United States will release data such as the number of initial jobless claims for the week of December 23On December 30, Germany will publish its import and export indices for November.
Industry-wise,Huawei terminal Weibo previously announced that on December 26, it will hold a M9 press conference;On December 27th, the "First China Short Drama Globalization Summit" will kick off in BeijingSpaceX said it would launch the U.S. X-37B robotic spaceplane on December 28 for its seventh orbital mission.
MarketThis week, the central bank's open market will have 672 billion yuan of reverse repurchase due, of which 184 billion yuan, 119 billion yuan, 134 billion yuan, 195 billion yuan, and 40 billion yuan will expire from December 25 to 29 respectively. In addition, on December 27, there is a 5 billion yuan central bill swap expiration. This week, 96 restricted shares of listed companies will be lifted one after another, with a total of 743.7 billion shares, calculated at the ** price on December 22, the total market value of the lifting of the ban is about 9031.3 billion yuan. The Hong Kong Stock Exchange announced that the Hong Kong Christmas holiday is approaching, and the northbound Shanghai-Hong Kong Stock Connect, Shenzhen-Hong Kong Stock Connect and Southbound Hong Kong Stock Connect will be suspended from December 25 (Monday) to December 26 (Tuesday). On Wednesday, 27 December, Stock Connect will be launched as usual. (China News Service, Wind Information).
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Data**: Wind, as of 202312.22. The industry is classified according to the first-level industry of CITIC. The market is risky, and investors need to be cautious.