Official! China's first 12 trillion large province was born 丨 Nancai simulcast

2022-01-20 17:32:00

Under the central bank's repeated "hints", the LPR quotations for this month were lowered as scheduled: the 1-year LPR was lowered by 0.1 percentage points to 3.7%, and the LPR above 5 years was lowered by 0.05 percentage points to 4.60%, in line with market expectations. This is also the second time that the interest rates of the two have been reduced simultaneously since 21 months.

· National Health Commission: The three-child policy is difficult to show effect in the short term, it is recommended to implement paid maternity leave and ensure women's employment On the morning of January 20, at a press conference held by the National Health Commission, Yang Jinrui, deputy director of the Department of Population and Family of the National Health Commission, pointed out that the current implementation of the three-child birth policy is not long, and supporting active birth support measures are also being introduced, and it is difficult to show obvious results in the short term. In the next step, all localities and departments will focus on the work of fertility and parenting education that the masses are most looking forward to, and launch a series of supporting measures.

Guangzhou Futures Exchange and Deutsche Börse Group signed a memorandum of understanding to jointly build a China-EU green financial cooperation mechanism On January 20, Southern Finance and Economics learned that Guangzhou Futures Exchange and Deutsche Börse Group recently signed a memorandum of understanding online to establish a partnership and explore international cooperation in the field of green finance. According to the Mou of Understanding, in the future, the two sides will jointly build a China-EU green finance cooperation mechanism, strengthen resource sharing in market research, market publicity, investor education and other aspects, and explore the possibility of cooperation in green development products such as carbon emission rights.

Sequoia China New Infrastructure Fund completed fundraising, Bofeng is the largest LP of the fund On January 20, Sequoia China has completed the fundraising of Sequoia China New Infrastructure Equity Investment Fund. The establishment of the New Infrastructure Fund is a milestone new product for Sequoia China in addition to its 17 years of successful experience in the three major fields of technology, consumption and healthcare, from seed to growth. Among the investors, Bofeng Asset Management is the largest LP investor and strategic investment partner.

What do you think of the magnitude and rhythm of interest rate cuts?

The People's Bank of China's policy interest rate cut this time is mainly based on the triple consideration of stable expectations, stable growth and wide credit. First, the actual output level of the mainland has been lower than the potential output level for 11 consecutive quarters, and it is necessary and urgent to stabilize the expectations of all parties. Second, there is a high degree of uncertainty in the pace of interest rate hikes in the Fed, the policy easing window is fleeting, and the "big stride and fast running" is more suitable for the current environment at home and abroad. Third, January is a big month for traditional credit delivery, and the reduction of policy interest rates guides the downward trend of entity financing costs, which is conducive to the transformation of credit from stable to wide. Considering that the People's Bank of China has successively cut the RRR in an all-round way, guided the LPR quotation interest rate to be lowered and the policy interest rate has been reduced, we believe that credit is expected to turn from stable to wide, whether it is liquidity level or profit level, it will be positive for the stock market. At the same time, if the credit or economic stabilization is not as expected, the People's Bank of China is expected to cut interest rates again.

There is still a hint of restraint in the easing - the LPR interest rate cut commented on January 20

Whether real estate will relax in the future remains to be seen. First of all, it depends on whether infrastructure can hedge the decline in real estate, the current export is still at a high level, and the policy focus in the short term is still relying on infrastructure to try to hedge real estate. According to our previous survey of credit officers, nearly 70% of credit officers in the first quarter believe that credit for government-related projects will rebound significantly. Secondly, looking at the rate of decline in resident mortgage loans, the current growth rate of mortgage loans in the real estate market has been significantly faster than the growth rate of deposits and advance receipts. Considering that in the short term, the real estate down payment ratio is not significantly adjusted, which means that the resources of high-quality mortgage customers in the bank's reserves may be gradually consumed, and as the inventory of high-quality mortgage customers in the inventory of commercial banks is gradually cleared, the residential mortgage loans may fall faster. On the whole, if infrastructure is difficult to hedge against the decline in real estate or the contraction of residents' mortgage loans is too fast, there may be marginal loosening of real estate policies in the future.

The impact of asset securitization financing of real estate enterprises on the three red line indicators

As a pillar industry of the mainland, the development of the real estate industry affects the security and stability of the financial system. In recent years, the real estate industry policy continues to be high-pressure, the external financing environment of housing enterprises continues to tighten, due to price control, land price rise profit margins continue to narrow, some housing enterprises have faced a liquidity crisis. In August 2020, the Chinese Bank of China and the Ministry of Housing and Urban-Rural Development held a symposium on housing enterprises to clarify the rules for the supervision and financing management of key real estate enterprises, namely the "three red lines", which aims to control the growth of interest-bearing debt of real estate enterprises and prevent the financing crisis and systemic risks of real estate enterprises.

Official! China's first 12 trillion province was born

Recently, Guangdong Province released the latest economic data, the province's GDP in 2021 is 12.4 trillion yuan, an increase of 8% year-on-year, ranking first in the country for 33 consecutive years. Guangdong is the only 12 trillion-level province in the country. After Guangdong, Jiangsu 11 trillion +, Shandong 8 trillion +, Zhejiang 7 trillion +, Henan about 6 trillion. Based on an average exchange rate of 6.45 in 2021, Guangdong's GDP is about $1.92 trillion. This total amount exceeds more than 90% of the world's countries, is comparable to Canada, Russia, South Korea, etc., and far exceeds Spain, Australia, the Netherlands and other countries. Guangdong's economy first sat on the first throne in the country in 1989, and it was 33 years.

The Internet cannot afford to lose the power of investment

When Bill Gates decided to fade out of Microsoft, he probably wouldn't have imagined that the power of the Internet would push Microsoft to where it is today. When Jobs decided to stop holding a stake in Apple in exchange for regaining control of the company, he probably wouldn't have imagined that the power of the Internet would one day completely transform a hardware company until its market capitalization exceeded three trillion DOLLARs. The potential of the Internet is always misjudged. Even the most visionary entrepreneurs on the planet are not immune. So when we are in 2022, when the Internet as an industry as a whole is in a stage of difficulties and doubts, should we choose to fear, fear that its prosperity will end here, or choose to believe that it still has value and potential? I choose to believe.

What chain reactions will Microsoft's acquisition of Activision Blizzard trigger?

Microsoft announced the acquisition of game company Activision Blizzard for $68.7 billion in cash, which will be the largest acquisition in the company's history, this news not only shocked the game industry, but also triggered a heated discussion among all netizens, not only because it means the end of a generation of youth, but also because Microsoft's shot will change the pattern of the global game industry overnight, affecting the future entertainment consumption of hundreds of millions of users, and because 430 billion yuan will become the biggest "big bet" since the giant entered the yuan universe. All those involved were given a shot in the arm. Microsoft has been battling Apple and Google over the app store's game draw problem, and once it enters the meta-universe, it can get rid of the constraints of these two mobile platforms and distribute games and content freely. However, before the meta-universe became popular, Microsoft still had to cooperate with Apple and Google for distribution, and the acquisition of Activision Blizzard could give it a greater say in the negotiations. As for Tencent, it is still the highest-paid game company in the world, but I don't know how long this position can sit.

For more information, please download the 21 Finance APP