CCP**,Opinions on comprehensively promoting the construction of a beautiful China were issued. By 2027, green and low-carbon development will be further promoted, the total emission of major pollutants will continue to be reduced, the quality of the ecological environment will continue to improve, the pattern of land and space development and protection will be optimized, the ecosystem service function will be continuously enhanced, the urban and rural living environment will be significantly improved, the national ecological security will be effectively guaranteed, and the ecological environment governance system will be more soundA number of practical models have been formed, and the construction of a beautiful China has achieved remarkable results.
China Association of Automobile Manufacturers:In 2023, China's automobile production and sales will complete 301610,000 and 300940,000 vehiclesBoth hit record highsOf these, 4.91 million units were exported, making it the world's largest exporter of automobiles.
The Ministry of Education and other four departments: resolutely crack down on illegal "black competitions". "Masters (DSS)", "Hope Cup (XWB)", "Hua Cup (HBS)" and so on are all "black competitions" held in violation of regulations. All competition results are prohibited from being used as the basis for enrollment and examination bonus items for primary and secondary school students.
Macroeconomics
1. The Communist Party of ChinaWe will continue to fight the battle to defend the blue sky, and strengthen joint supervision and law enforcement by departments. Strengthen regional joint prevention and control, and deepen the performance grading of key industries in heavily polluted weather. By 2027,The national average concentration of fine particulate matter has dropped to less than 28 micrograms of cubic meters, and cities at and above the local level strive to meet the standard; By 2035, the concentration of fine particulate matter in the country will be reduced to less than 25 micrograms of cubic meters, so that the air will always be fresh and the blue sky will always be there.
On January 10, 2024, the first batch of treasury bonds this year will be publicly issued, and the issuance of local bonds in the new year will also be launched. Under the requirements of the active fiscal policy to moderately strengthen and improve quality and efficiencyIt is estimated that the annual treasury bond issuance scale will exceed 9 trillion yuanThe new special bond limit will be maintained at a high level, and the role of jointly driving the expansion of effective investment will be played to consolidate the positive trend of economic recovery.
3. Guizhou Province:Issued the "Provincial People's Implementation Opinions on Further Promoting the Reform of the Financial System below the Provincial Level". It is strictly forbidden to introduce policies to attract investment that exceed the financial affordability. Further improve the sharing mechanism for VAT refunds at the provincial and sub-provincial levels. Divest the financing platform of the best financing function, promote the implementation of comprehensive governance, and promote the transformation of market-oriented entities by category.
4. Beijing Municipal Health Commission:Recently,Acute respiratory infectious diseases in Beijing are at a high epidemic levelThe causative agent is the influenza virus, which will remain in the epidemic period in the coming weeks; The number of reported cases of novel coronavirus infection remains at a low level for the time being.
5. United States:December 2023,CPI increased by 3 year-on-year4%, the highest since September 2023Estimate 32%, the previous value was 31%；Month-on-month, up 03%, estimated 02%, the previous value was 01%。Core CPI rose 3 year-on-year9%, the lowest since May 2021, is estimated at 38%, the previous value was 40%；Month-on-month, up 03% and 0 expected3%, the previous value was 03%。
Real estate dynamics
1. Zhejiang Province:On January 11, 2024, the provincial housing and urban-rural construction work conference will be held, which will promote the steady and healthy development of the real estate market, explore the establishment of a linkage mechanism of "people, housing, land and money", improve the basic system of real estate, and gradually realize the transformation from improving pre-sale conditions to existing house salesIn Wenzhou and other cities, we will actively and steadily carry out pilot sales of existing houses.
2. Foshan City, Guangdong Province:Recently, the Measures for the Expropriation and Compensation of Houses on State-owned Land in Foshan City were issued, which will come into force on February 1, 2024 and will be valid for 5 years. The expropriated person can choose monetary compensation or exchange of property rights. For projects that meet the implementation conditions, the expropriated person can choose to be resettled by means of room tickets.
3. Hefei City, Anhui Province:Rental and withdrawal of housing provident fund will all be handled online. Relevant departments are vigorously promoting the governance of real estate data in four counties and one city, and realizing the online handling of rental housing extraction in four counties and one city. Loans were granted to 283 families with many children17.8 billion yuan.
4. Hong Kong Housing Authority:Through the "Family with Newborns" Public Housing Priority SchemePRH applicants with newborn babies within a specified period of time can shorten the waiting time by one yearIt came into force on April 1 this year.
Stocktaking
On Thursday, the Shanghai Composite Index was at 288665 points,The turnover was 29855.3 billion. The Shenzhen Stock Exchange Component Index was reported at 905388 points,The turnover was 41352.3 billion. The GEM index was reported at 177727 o'clock,The turnover was 16390.5 billion. Overall, there are more than 4,400 stocks in the two cities, and the turnover of the two cities is 712.1 billion, an increase of 65.1 billion from the previous trading day. On the disk, flying cars, Hongmeng concepts, computing power leasing, lithium mines and other sectors were among the top gainers, while supply and marketing cooperatives, coal, tourism and other sectors were among the top decliners. Northbound funds were net **42 throughout the day3.1 billion yuan, of which 2 were net sold through Shanghai-Hong Kong Stock Connect1.1 billion yuan, Shenzhen Stock Connect net **444.2 billion yuan.
Thursday,The Hang Seng Index rose 127%，1630204 o'clock. The Hang Seng Tech Index rose 218%，reported 350302。The state-owned enterprises index rose 135%，549448 points. On the market, WuXi Biologics rose more than 8%, Meituan rose more than 5%, and rose more than 7% in intraday trading. Southbound funds were net sellers of 54HK$2.5 billion. Among them, Hong Kong Stock Connect (Shanghai) net sold 20HK$1 billion, Hong Kong Stock Connect (Shenzhen) net selling 34HK$1.5 billion.
As of January 11, there were 241 listed companies on the Beijing Stock Exchange, with 1 new company added on the same day. The total market capitalization is 42000.7 billion yuan, with a turnover of 10.2 billion$8.3 billion.
4. Financing balance of the two cities:As of January 10, the financing balance of the Shanghai Stock Exchange was reported at 82587.4 billion yuan, a decrease of 10 from the previous trading day$2.4 billion; The financing balance of the Shenzhen Stock Exchange was reported at 74702.4 billion yuan, a decrease of 16 from the previous trading day$4.7 billion; The total of the two cities is 15,7289.8 billion yuan, a decrease of 26 from the previous trading day7.1 billion yuan.
5. Shanghai Securities News:Since the beginning of the year, the A** field has been hovering at the bottom, and the ** company has actively "launched". As of January 10, more than 120 new ** are being raisedNearly sixty percent of them are equity categoriesIn the past four years, it has become partial debt, and many ** companies have also promoted the debt base as a blockbuster new product at the beginning of the year. However, for the performance of the bond base this year, compared with the high expectations of investors, many institutional people have a "normal heart".
6. Economy: There are advances and retreats, survival of the fittest, and the capital market can become a "pool of living water". Especially in the current situation where the number of listed companies is already large and the market incremental funds are insufficient, we should give full play to the "filter" role of the delisting system, further increase the intensity of delisting, and let the companies that should stay stay and the companies that should exit exit.
7. Shanghai Securities News:The three giants of the pig breeding industry, Muyuan shares, Wen's shares, and New Hope, have all hit a record high in pig slaughter. Judging from the speed of de-inversion, there is still a possibility of further decline in the number of sows that can reproduce around the Spring Festival this yearIt is expected that the number of pigs slaughtered will decline after the third to fourth quarter of 2024, and the pig price may usher in a relatively considerable **.
8. Changchun High-tech:The company recently received a notice from shareholder Jin Lei, and learned that Jin Lei and Wang Simian had gone through the formalities for dissolving their marriage by agreement and made arrangements for the division of shares. After the change in equity, Jin Lei holds about 114% shares, no longer more than 5% of the company's shares; Wang Simian holds about 742% stake.
9. COSCO Shipping Holdings: about 1766HK$520,000 to repurchase 2.31 million H sharesThe buyback** is 7. per share56-7.HK$70.
Wealth Focus
1. Ministry of Human Resources and Social Security:Issued a notice on promoting the application of live-streaming in the field of employment public services, and promoted the widespread application of live-streaming in the field of employment and public servicesCreate a number of specialized, high-level employment public service live broadcast bases.
2. Immigration Administration: From January 11, 2024, five measures to facilitate foreign nationals to come to China will be officially implementedWe will further break through the blockages related to foreign personnel coming to China for business, study and tourism, so as to better serve and ensure high-level opening-up and promote high-quality development.
3. **Times: For the first time, U.S. regulators approved exchange-traded (ETFs) that invest directly in BitcoinTo the scale of about 1The move is hailed as a milestone event for the $7 trillion digital asset industry, and it will expand access for Wall Street and other investors to invest in the largest cryptocurrency.
4. Financial breakfast:Hot spots out non-stop, track what you want to hear. Flying cars, humanoid robots. The power of hard-core science and technology is overwhelming, and these "hard technology" "light material" carbon fiber has also opened up a new growth space, why choose carbon fiber? What's unique about it? Which companies will be the first to benefit? Wealthy friends, quickly row to the end of the article to view today's financial secretary tracking "black **" carbon fiber
Industry Watch
1. The Communist Party of ChinaSpeed up the construction of special railway lines and improve the level of clean transportation of bulk goods. Promote the green transformation and railway electrification transformation of railway stations, civil airports, ports and terminals, logistics parks, etc., and promote the large-scale application of ultra-low and near-zero emission vehicles and the clean and low-carbon application of non-road mobile machinery. By 2027,The proportion of new energy vehicles in the new cars will strive to reach 45%, and the old diesel locomotives will be basically eliminatedThe volume of container rail-water combined transport at the port maintained a rapid growth; By 2035, the proportion of railway freight turnover in total turnover will reach about 25%.
2. CCTV News:In 2023, water conservancy departments at all levels across the country will make every effort to promote the construction of water conservancy infrastructure, accelerate the construction of the main skeleton and artery of the national water network, continue to promote the construction of provincial-level water network pilot areas, and launch municipal and county-level water network pilot areas one after another. The investment in water conservancy construction was 1,199.6 billion yuan, setting a new record on the basis of reaching a trillion yuan for the first time in 2022.
3. Ten departments including the Ministry of Industry and Information Technology:Issuing the implementation plan for the high-quality development of the green building materials industry by 2026The annual operating income of green building materials exceeds 300 billion yuanThe average annual growth rate from 2024 to 2026 is more than 10%. A total of more than 30 characteristic industrial clusters have been cultivated, more than 50 green building materials application demonstration projects have been built, no less than 100 cities have implemented procurement policies, and 12,000 green building materials product certification certificates have been established.
4. Ministry of Commerce: China has become the world's largest online retail market for 11 consecutive years. In five years, the number of e-commerce employees has increased from 47 million to more than 70 million. E-commerce has become a new engine for digital transformation, with a number of B2B platforms with a transaction volume of more than 100 billion yuan such as chemicals and building materials emerging, and the national e-commerce demonstration base has led to the formation of more than 30 characteristic digital industrial belts such as clothing and furniture.
5. People's Daily Online:From 0:00 on January 11, 2024,Railway 12306** optimizes and upgrades the standby ticket purchase functionIncreasing the number of standby orders and alternative plans, expanding the range of options for the fulfillment time of standby orders, and giving priority to the allocation of temporary new passenger train seats to passengers who have submitted standby orders, will further improve the success rate of passenger waitlist ticket purchase.
6. Counterpoint: XR headset shipments are expected to increase by 3.9 million units in 2024, hitting a record highAchieved high-double-digit year-over-year growth. Apple will only sell about 500,000 Vision Pro units in 2024, accounting for a low-single-digit share of the global XR market in 2024.
7. IDC: In the fourth quarter of 2023, global traditional PC shipments will be close to 67.1 million units, a year-on-year decrease of 27%。While shipments have been down year-over-year for eight consecutive quarters and the market is recovering slowly amid weak demand and reliance on large amounts**, overall, the market shrinkage appears to have bottomed out and growth is expected in 2024.
8. Finance Associated Press:Another pig farm in Yuen Long was found to have African swine fever virus (ASFV) virus detected in pigs. AFCD has banned the removal of any pigs from the farm until further notice. For the sake of prudence,The Department is arranging for the destruction of all over 1,700 pigs in the farm, which will commence this week.
9. Japan Automobile Importers Association:In 2023, the import and sales of new pure electric vehicles from foreign manufacturers will be 22,890 units, a significant increase of 59% year-on-year6%，For the first time, it exceeded 20,000 unitsTesla, BYD, Mercedes-Benz Group and other companies led the sales volume, driving the overall sales increase.
10. Science and technology**:Harvard University in the United States has developed a new type of lithium-metal battery that can be charged and discharged at least 6,000 times, more than any other pouch batteryIt can be fully charged in minutes. The study not only describes a new method for fabricating solid-state batteries using lithium metal anodes, but also provides new insights into potentially revolutionary battery materials.
Company news
1. Tencent:**The scale of live streaming has increased significantly year-on-yearNearly 3 times the GMV of the previous year300% increase in supply volume and 244% increase in order volume. On January 11, the 2024 WeChat Open Class PRO was held, and this open class is only open to targeted people.
2. OpenAI: Launched the ** store "GPT Store". The GPT Store, which began rolling out to paying users, teams and business users on Wednesday, brings together customized versions of ChatGPT created by users for various tasks, such as a chatbot that can teach kids math, as well as programming tutors, book guides, and more.
Global Vision
1. CCTV News:Passed the inspection and quarantine of Xiamen Customs, 2396 tons of fresh grouper from Taiwan successfully completed customs clearance procedures, which is after the General Administration of Customs resumed the import of grouper from Taiwan to the mainland on December 22, 2023The first batch of live grouper imported to the mainland.
2. Argentina: The escalating inflation crisis puts it on track to surpass VenezuelaBecome the fastest country in Latin America with the highest prices. Inflation is expected to soar above 200% annually in December 2023. Argentina's annual inflation rate is expected to reach a high level of 500% in the first half of this year.
3. Maersk:It could take months to reopen the key Red Sea** routesThis will have an economic and inflationary shock to the global economy, companies and consumers. As a result of this circumstance, the ships had to make a long and expensive roundabout route around South Africa, and there were "no winners" in this conflict.
Financial data
Domestic
On January 11, a total of 6,219 companies were listed, a decrease of 3 on the same day, and the turnover was 26.7 billion. The three-board index was reported at 89731，Up 049%，Turnover 14.3 billion.
2. Domestic commodities**:As of the afternoon of January 11th**, there were more ups and downs. Lithium carbonate rose more than 6%.Alumina rose by more than 4%, Shanghai nickel and container shipping European line rose by more than 3%, SS and starch rose by more than 2%, corn and Shanghai tin rose by more than 1%, and international copper, manganese and silicon rose slightly; Glass fell more than 2%, beans.
Second, liquefied gas fell by more than 1%, and soybean meal and methanol were slightly **.
3. Treasury bonds:On January 11, the main contract of 2-year treasury bonds** TS2403 rose by 004% to 101234；The main 5-year Treasury bond ** contract TF2403 rose 011% to 102600；The main contract of 10-year treasury bond ** T2403 rose 001% to 102990。The interest rate on the 10-year Treasury rose 010 bp, to 250%；The interest rate on the 10-year CDB fell 321bp, to 263%。
4. Shanghai International Energy Exchange:On January 11, the main contract was 2402 to 5567 yuan barrel**, 45 yuan,The increase was 081%。All contracts traded 260121 lots, and the open interest decreased by 4,658 lots to 56,912 lots. The main contract traded 181825 lots, and the open interest decreased by 2,086 lots to 25,255 lots.
5. Central Bank:On January 11, a 7-day reverse repurchase operation of 27 billion yuan was carried out on the same day, and the winning interest rate was 180%, the same as before. Due to the expiration of 15 billion yuan of 7-day reverse repurchase on the same day, a net investment of 12 billion yuan was realized.
6、shibor：Overnight 16270%，**3.90 basis points. 7-day report 17990%，**0.20 basis points. 3 months report 24000%，*0.00 basis points.
7. RMB:The onshore yuan was quoted at 7 against the US dollar at 16:30**1594，Up 01534%，The central price of the yuan was reported at 71087, down 00450%。
8. Shanghai Environmental Exchange:On January 11, the trading volume of carbon emission allowance listing agreements in the national carbon market was 44.3 billion tons, with a turnover of 0060,000 yuan, **price 7234 yuan ton,Up 001%。
abroad
9. Asia: Nikkei 225 index rose 177%，3504986 points. South Korea's KOSPI index fell 007% at 254027 o'clock,
10. U.S. stocks: The Dow closed up 004%，3771102 o'clock; The Nasdaq closed up 000%，149707 p.m.; The S&P 500 closed down 007% at 478024 o'clock.
11. Europe:Britain's FTSE 100 closed down 098% at 757659 points; Germany's DAX30 closed down 086% at 1654703 o'clock; France's CAC40 closed down 052% at 738762 points.
COMEX closed down 042% in 2019$2 oz.
13. The settlement price of **WTI*** closed up 091%，reported 72$02 barrel; Brent*** settlement price closed up 079%，reported 77$41 barrel.
14. Baltic Dry Bulk Index:Down 661% to 1551 points.
Black ** "Carbon fiber
Guohai**:The development of the carbon fiber industry has entered a new stage. The global demand for carbon fiber in 2022 is 1350,000 tons, including 7440,000 tons (11. in 2021.)8/6.240,000 tons).It is expected that the total domestic demand for carbon fiber will reach 13 in 202520,000 tons, with a CAGR of 20 from 2021 to 20256%。In 2022, the downstream applications of domestic carbon fiber mainly include wind turbine blades (235%), sports and leisure (309%), aerospace and military industry (10.).5%), carbon-carbon composites (9.).1%), pressure vessels (81%), among which the demand for aerospace and military industry in 2022 will increase by 290% year-on-year, showing a rapid growth trend. New applications such as aerospace and robotics are expected to bring new demand for carbon fiber.
CITIC**:The global commercial drone market size is expected to grow at a market size of 38The compound growth rate of 6% will reach 5835 in 2030$100 million. For aircraft, weight reduction can significantly improve economic efficiency. The global demand for carbon fiber for drones will increase from 4,737 tons in 2022 to 14,687 tons in 2025, corresponding to a CAGR of 45 in 2022-20258%，Drones are an emerging force driving demand for carbon fiber. The rising demand for new short- and medium-distance transportation solutions has given rise to new application scenarios of carbon fiber, and the flight cabin, the core component of the flying car, is made of about 90% carbon fiber composite materials, which has broad growth space.
Guotai Junan:In 2024, humanoid robots will usher in the first year of industrialization, and Musk proposed that "at some point in the future, the ratio of robots to humans may exceed 1:1". Carbon fiber high-performance composites are expected to gradually replace traditional metal materials to make robot parts. Carbon fiber and carbon fiber composites, compared with magnesium alloy and aluminum alloy, have advantages including: 1) 42% weight reduction; 2) The stiffness is increased by 30%; 3) Higher load-bearing capacity of the robotic arm; 4) Higher robotic arm operating speed, etc. Based on the calculation of 1 million humanoid robots, only the robotic arm can correspond to the long-term demand market for 10,000 tons of carbon fiber.
GF**:In the case of carbon fiber inventory accumulation and downturn, the profitability of carbon fiber products and business operations are facing challenges, large-scale expansion is expected to slow down, and leading enterprises are expected to further gather resources by relying on scale, cost, technology, capital and other advantages. Under the trend of continuous high carbon fiber localization rate and intensified competition, optimistic about the competition pattern of high-end civil and military carbon fiber, the emerging 10,000-ton carbon fiber market may come from humanoid robots and drones, and the application of robotic arms and fully automated manned aerial vehicles is expected to gradually accelerate from 2024. The advantages of carbon fiber factories that take the lead in opening up export channels and have the advantages of cost and technology iteration will be highlighted.