Macroeconomic policies
"Double Festival" holiday economy fever
According to the Ministry of Culture and Tourism, during the eight days of the Mid-Autumn Festival and National Day, the number of domestic tourists was 826 million, an increase of 71.3% on a comparable basis, and an increase of 4.1% on a comparable basis compared with 2019; Domestic tourism revenue reached 753.43 billion yuan, an increase of 129.5% on a comparable basis and 1.5% on a comparable basis compared with 2019. According to the data of the Ministry of Transport, the cross-regional personnel flow in the eight days of the holiday totaled 2.204 billion people, of which 458 million people were transported by commercial passengers, with an average of 57.277 million people per day, an average increase of 57.1% over the same period in 2022 (7-day National Day holiday). According to data from the National Immigration Administration, border inspection authorities across the country inspected 11.818 million people during the Mid-Autumn Festival and National Day holidays this year, an average of 1.477 million people per day, an increase of about 2.9 times over the same period last year and 85.1% over the same period in 2019. At the same time, civil aviation transported 17.082 million passengers during the eight-day holiday, with an average of 2.135 million passengers per day, an increase of 12.6% over the National Day holiday in 2019 (1.897 million per day). From September 29 to October 6, 44,200 commercial performances were staged nationwide, an increase of 227.68% over the October 1 holiday of the previous year. Box office revenue was 2.005 billion yuan, up 322.14%; The number of visitors was 11.8035 million, an increase of 261.83%.
Transaction volume of 35 Chenglou city fell by about 20%
According to China News Network, the latest report released by the Middle Institute on October 7 shows that during the National Day holiday in 2023 (September 29 - October 6), the average daily transaction area of 35 representative cities fell by about 20% compared with last year's National Day holiday, Shanghai, Guangzhou and other places began to pick up, and the market performance of Chengdu, Hangzhou, Nanjing and other cities was stable. The effect of the New Deal remains to be seen.
21 billion yuan, Tianjin also officially announced! Special refinancing bond issuance or acceleration
According to Yicai, after Inner Mongolia started the "first shot" of restarting special refinancing bonds, Tianjin was also officially declared into the bureau. Tianjin plans to issue about 30.6 billion yuan of local government bonds on Oct. 10, including 21 billion yuan of refinancing general bonds, according to documents disclosed by China Bond Information Network. According to the relevant issuance documents disclosed by the bond, the refinancing general bonds issued this time will be used to repay the outstanding debt. Insiders believe that behind the frequent landing of refinancing bonds used to repay the stock of debt in Inner Mongolia and Tianjin, the restart signal of a new round of special refinancing bonds has been more clear, and the deployment of debt will accelerate the landing.
EU announces anti-subsidy investigation into Chinese electric cars
The European Commission recently announced that it decided to launch an anti-subsidy investigation into pure electric passenger vehicles imported from China. The Chinese Ministry of Commerce said that the EU launched the anti-subsidy investigation only based on subjective assumptions about the so-called subsidy projects and the threat of damage, lack of sufficient evidence to support, and do not comply with relevant WTO rules, China is strongly dissatisfied.
MOFCOM's Remarks on the US Department of Commerce's inclusion of Some Chinese Entities in the "Entity List" of Export control
On October 6, the US Department of Commerce announced that some Chinese entities would be included in the "entity list" of export control on the grounds of involvement in Russia. In response, the Chinese Ministry of Commerce said that the US side once again included some Chinese enterprises in the "entity list" of export control in a short period of time on the basis of the so-called involvement in Russia. The US has generalized national security, abused export control measures, and arbitrarily imposed unilateral sanctions and "long-arm jurisdiction" on Chinese companies. This is a typical act of economic coercion and unilateral bullying, to which China firmly opposes.
More than 1,000 people have been killed in the latest Israeli-Palestinian conflict, media said the Israeli government may carry out "major military activities"
According to CCTV news, Israel and Palestine 7 local time broke out a new round of military conflict, the Palestinian Islamic Resistance Movement (Hamas) launched a military operation against Israel on the same day, the Israeli army launched multiple rounds of air strikes on the Gaza Strip. More than 1,000 people on both sides have been killed and more than 4,000 injured. The Israeli government may carry out "major military activities".
Fixed income/Foreign Exchange
About 20 bond bases were redeemed in the past month, fund manager said liquidity risk was controllable
According to the "Securities Times" statistics, in the past month, about 20 bond funds have suffered large redemptions, and issued a "due to large redemptions to improve the precision of net worth" announcement. Since the interest rate cut on August 15, the bond market has continued to adjust, and the 10-year Treasury bond yield once rose 12 basis points to 2.7%. Bond market adjustment, debt base encountered large redemptions, will 2022 "Black November" repeat? Fund managers believe that redemption pressure is relatively manageable, and the likelihood of negative feedback and liquidity risk as it was last year is low.
Commodities/Stock markets
SSE terminates review of CP stock listing
On the 8th, the Shanghai Stock Exchange announced that due to the company and the sponsor submitted the withdrawal application document, it decided to terminate the review of the initial public offering of CP shares and its listing on the main board of the Shanghai Stock market. Cp Shares is one of the largest feed producers and pig producers in China. On March 2, it submitted its initial public offering shares to the Shanghai Stock Exchange and listed the prospectus on the main board, planning to issue no more than 567 million shares to raise 15 billion yuan, and build 18 projects including Guangdong Zhanjiang pig industry chain project and Hubei Xianning pig industry chain project.
Shanghai and Shenzhen Exchanges: "Extend trading hours after the festival, and try T+0 trading on some stocks" rumors are not true
Since the media said that after the holiday, A-shares will extend trading hours and trial T+0 trading on some stocks, the Shanghai and Shenzhen exchanges issued A document on the 7th, saying that the relevant content is not true. Earlier on August 18, the relevant person in charge of the CSRC proposed to study the appropriate extension of the A-share market trading hours when answering reporters' questions on the active capital market and boosting investor confidence. This work involves a wide range and has a large impact, and the exchange is conducting in-depth research and demonstration in accordance with the unified deployment of the CSRC. In addition, the relevant person in charge in the early stage has made it clear in A reporter's question that the time for T+0 trading in the A-share market at this stage is not mature.
A 43% drop! The number of IPO acceptances decreased significantly in the third quarter
According to brokerage China, the Shanghai and Shenzhen stock exchanges accepted only 11 ipos in September after experiencing "zero acceptance" in July and August. Data showed that the number of ipos accepted by the Shanghai and Shenzhen exchanges in the third quarter fell by nearly 70% compared with the same period last year. According to brokerage China reporter statistics, the Shanghai, Shenzhen and North three stock exchanges in the third quarter of IPO acceptance fell 43% year-on-year. A number of investment bankers said that looking ahead to the fourth quarter of this year, the IPO financing market as a whole is expected to maintain a low tempo.
SSE: Carry out a special verification of Zhejiang Jiangguoxiang
In response to the fact that there are self-media that Zhejiang Jiangguoxiang has the same asset secondary listing and the issue price is higher, the Shanghai Stock Exchange responded that we have paid attention to the relevant situation reflected by the media in the review and conducted special inquiries. At present, Zhejiang Jiang Guoxiang has suspended the IPO issuance process. In line with the attitude of being responsible for the market and investors, we will reflect the situation of the media and carry out a special verification of Zhejiang Jiang Guoxiang.
Shenzhen: Building a high-quality innovation capital center and a world-class exchange to promote more long-term capital to enter the market
The Shenzhen Local Financial Supervision Administration and other departments issued the Implementation Opinions of Shenzhen on Financial Support for Scientific and Technological Innovation, supporting the Shenzhen Stock Exchange in building a more inclusive and efficient innovation support market system, fully implementing the stock issuance registration system, continuously improving the pilot arrangement of the GEM registration system, optimizing the domestic issuance and listing system of innovative enterprises, and improving the listing cultivation system of innovative enterprises. We will improve the basic systems for refinancing, mergers, acquisitions, restructuring, and stock reduction, open up diversified exit channels, and encourage more long-term capital to enter the market.
Hong Kong Stock Exchange delayed opening on Monday
** The HKEX has announced that due to the issuance of Typhoon Signal No. 8 and Black Rainstorm Warning by the Hong Kong Observatory, the morning trading session of the stock market (including the northbound trading of the Shanghai-Shenzhen-Hong Kong Stock Connect) and the derivatives market will be delayed today (Monday).
A new round of armed conflict between Israelis and Palestinians broke out and the Israeli stock market plunged
Israeli stock and bond prices plunged on Sunday, according to Global Markets. Israel's TA-35 index of 35 blue-chip companies fell 6.47 percent on Sunday, while the broader benchmark TA-125 index fell 6.69 percent. Bank stocks weighed heavily on both indexes, falling 9 percent, with 2.2 billion shekels ($573 million) out of the country, and government bond prices also fell 3 percent in the initial market reaction to Israel's worst attack in decades.
Companies and Industries
The new force of car manufacturing in September delivery "rise" sound
According to "Securities Daily", in September, a total of five new car manufacturing forces delivered more than 10,000 vehicles. Among them, the ideal car continued to win the championship, breaking 30,000 units for four consecutive months; Zerorun Automobile, NIO Automobile and Xiaopeng Automobile ranked second to fourth, and the three delivered more than 15,000 vehicles in September. At the same time, the total delivery of which Zha cars in September also reached 13,200 units. In addition to the five new forces of car manufacturing, the delivery of car companies in September showed general growth, and many hit a record high.
BYD continues strong deliveries in September
Data released by BYD showed that 287,500 new energy vehicles were sold in September, up 43 percent from a year earlier. As of September, the cumulative sales this year reached 2.0796 million, an increase of 76.23%. It is less than 930,000 vehicles short of its target of 3 million.
Shenzhen Carbon Peak Implementation Plan: Deployment of ten actions
Shenzhen Municipal People's Government issued the "Shenzhen Carbon Peak Implementation Plan", focusing on the "14th Five-Year Plan" and "15th Five-Year Plan" two key periods for carbon peak, proposed to take the lead in establishing and implementing double carbon emission control degrees, controlling carbon dioxide emissions per unit of regional gross domestic product and other goals, and proposed the implementation of "Ten actions for carbon peak" around key areas and key links of carbon emission.
Ministry of Science and Technology and other ten departments issued a document! These scientific and technological activities are subject to ethical review
According to China Securities Network, the Ministry of Science and Technology and other ten departments jointly issued the "Measures for the Review of science and technology Ethics (Trial)" on the 8th, it is clear that units engaged in scientific and technological activities such as life science, medicine, artificial intelligence, and other scientific and technological activities, the research content involves the sensitive field of science and technology ethics, should set up a science and technology ethics (review) committee.
Ministry of Industry and Information Technology: Plan to promote the opening of telecom business to private capital
The Ministry of Industry and Information Technology issued the Opinions on Innovative Information and Communication Industry Management and Optimization of the Business Environment (Draft for comment) : Orderly expand the opening of telecommunications business to the outside world, explore the first trial in areas such as free trade ports, and pilot the expansion of open value-added telecommunications business. We will promote the opening up of telecommunications business to private capital in a coordinated manner, increase support for private enterprises to participate in business and service innovation such as the resale of mobile communications, and promote the reform of the satellite Internet business access system step by step and in stages.
Study shows that Internet red diet drugs increase the risk of pancreatitis by 900%
According to CCTV, the internationally renowned medical journal "Journal of the American Medical Association" published an article on weight loss drugs on the 5th, pointing out that drugs such as Semiglutide developed by Denmark's Novo Nord may increase the risk of users suffering from serious gastrointestinal diseases. The data showed that compared with the rate of serious side effects of bupropin/naltrexone, another weight loss drug, GLP-1 was associated with a nearly four-fold increased risk of stomach paralysis, a nine-fold increased risk of pancreatitis, and a four-fold increased risk of intestinal obstruction.