The central bank plans to reduce the RRR by 25 points to release funds of 530 billion yuan
On the evening of April 15, Chinese Bank announced that it decided to reduce the reserve requirement ratio of financial institutions by 0.25 percentage points on April 25, 2022. Chinese Bank said that the RRR cut released a total of about 530 billion yuan of long-term funds.
The RRR cut is a comprehensive RRR cut, and in addition to some corporate financial institutions that have implemented a 5% deposit reserve ratio, the reserve requirement ratio has been generally reduced by 0.25 percentage points for other financial institutions. For urban commercial banks that do not operate across provinces and rural commercial banks with a deposit reserve ratio higher than 5%, on the basis of reducing the deposit reserve ratio by 0.25 percentage points, an additional 0.25 percentage points will be reduced, which is conducive to increasing support for small and micro enterprises and "three rural areas". (Chinese Bank)
| commented| although this year has only passed a quarter, it is already obvious that the pressure of economic operation throughout the year can be felt. Especially under the influence of the epidemic, many enterprises have repeatedly fallen into a state of shutdown, and the situation of small and micro enterprises is particularly difficult. At this time, releasing more loans to small and micro enterprises by reducing the RRR is a real way to bail out. To stabilize the development of enterprises is to stabilize employment and consumption. Only when the basics are stable can we talk about innovation and development.
However, it should be noted that the overall goal of this RRR cut is to stimulate the real economy. Therefore, we must be wary of some enterprises in the context of loose liquidity to "borrow the new to pay back the old", or let the funds idle between several institutions, can not flow into the real need of funds of small and medium-sized audiences, weakening the role of the RRR cut on the real economy.
In March, the price of new houses in 70 cities rose in 29 cities month-on-month
On April 15, the National Bureau of Statistics released the changes in the sales prices of commercial residential buildings in 70 large and medium-sized cities in March. The data shows that in March, among the 70 large and medium-sized cities, the number of cities where the sales price of commercial housing fell month-on-month decreased, of which 29 cities rose month-on-month.
In March, the sales price of newly built commodity residential buildings in first-tier cities rose by 0.3% month-on-month; the sales price of newly built commodity residential buildings in second-tier cities was flat month-on-month, the same as that of the previous month; and the sales prices of newly built commodity residences in third-tier cities fell by 0.2% respectively. (National Bureau of Statistics)
| commented| As more and more cities begin to relax their home buying policies, the real estate market has finally shown signs of recovery. At present, even in cities where house prices have fallen, the decline is gradually narrowing. This is a symbol of the gradual stabilization of the real estate market, and it also brings confidence to the stability of the economy.
Judging from the specific data, the real estate market in first-tier cities is better than that in second- and third-tier cities. In the context of the relaxation of housing purchase policies, real estate in first-tier cities is indeed more attractive, but it is also necessary to pay attention to the pressure of the real estate market in second- and third-tier cities.
Nanjing can allocate up to 60% of the pre-sale supervision funds
On April 15, the Nanjing Municipal Bureau of Housing Security and Real Estate and the Business Management Department of the Nanjing Branch of the Chinese Bank jointly issued the Notice on the Pilot Use of Bank Guarantees for the Supervision of Pre-sale Funds for Commercial Housing, which will be tried for one year from the date of issuance.
According to the new regulations of Nanjing Municipality, real estate development enterprises can replace the regulatory funds in the supervision account of the pre-sale funds of newly built commercial housing with the same amount with the guarantee letter issued by the bank. After the development enterprise applies for the replacement of the equal amount of capital guarantee, the balance within the supervision quota of the pre-sale fund account must meet the construction fund requirements of the project in the subsequent 1 year; and the replacement fund of the guarantee shall not exceed 60% of the supervision amount of the project pre-sale fund. (China Securities News)
| commented that the so-called "pre-sale supervision funds" | are actually part of the funds obtained by the housing enterprises in the pre-sale, and this part of the funds must be deposited in a special bank account, which is only used for housing construction costs and supervised by the government. This policy can effectively avoid enterprises from abusing funds to cause bad buildings and damage the rights and interests of home buyers. This measure by the Nanjing government has brought more liquidity to housing enterprises, alleviated the debt repayment pressure of enterprises, and the deeper purpose is to encourage housing enterprises to be more active in obtaining land. After all, nanjing has a large-scale land transfer plan this year, and the first round of centralized land supply involves 20 plots.
At the same time, the Nanjing government has maintained a cautious attitude towards possible financial risks, so it adopts the method of "letter of guarantee substitution", and once there is a problem with the construction funds, the bank that issued the guarantee will provide protection and claim compensation to the housing enterprise.
Affected by the supply chain in May, the national automakers may stop production
On April 15, He Xiaopeng, CEO of Xiaopeng Motors, posted on Weibo: "If the supply chain enterprises in Shanghai and the surrounding areas cannot find a way to dynamically resume work and production, all Chinese automakers may have to stop work and production in May." Yu Chengdong, CEO of Huawei's consumer business and CEO of Smart Car BU, also posted in the WeChat circle of friends that if Shanghai and other places cannot resume work and production in time, all technology and industrial industries involving Shanghai's supply chain will be completely stopped after May, especially the automobile industry.
Cui Dongshu, secretary general of the Association, previously said that the direct loss and impact of the current epidemic on national automobile production accounts for about 20% of the total output, and the future is still facing greater uncertainty. (The Paper)
| commented| In recent years, the automotive industry has developed in the direction of intelligence and electrification, and the upstream and downstream relationships of the automotive industry chain have become more complicated. The outbreak of this round of the new crown epidemic has led to the inability of raw materials to be transported normally, the difficulty of starting work of upstream automobile production enterprises, and the dilemma of car companies generally facing a shortage of parts. Not only are mainland car companies in trouble, but international car companies such as Toyota, BMW, and General Motors have also recently reduced production.
The automobile industry is an important pillar of the mainland economy, and the long-term shutdown will not only increase the difficulty of completing this year's economic goals, but also have a serious impact on the income of employees of related enterprises. At present, it is still necessary to minimize the impact on the production of enterprises while preventing and controlling the epidemic.
Wang Sicong questioned that Yiling Pharmaceutical was rebuffed
On April 15, Wang Sicong forwarded a message about Lianhua Qing plague capsules on Weibo, and said that the regulatory authorities should strictly investigate Yiling Pharmaceutical. About an hour later, Wang Sicong edited the Weibo again, deleting words such as The regulatory authorities should strictly investigate Yiling Pharmaceutical.
Yiling Pharmaceutical also quickly responded: Regarding the news spread on Weibo, please point out the specific problems and sources. The company also said that "you can't ask questions at will because of the three words 'Wang Sicong'". Recently, the stock price of Yiling Pharmaceutical has fluctuated, and on Thursday, Yiling Pharmaceutical has risen and stopped, and on Friday, it has closed with a falling stop. (Oriental Fortune Network)
| commented| Wang Sicong forwarded a video questioning Lianhua Qingpi, causing extensive discussion on the Internet. In this epidemic, from the perspective of economic benefits, Lianhua Qing plague capsules are indeed a big "winner". It is reported that Lianhua Qing plague capsules do not have the effect of preventing the new crown, but there is real data support for the treatment effect of the new crown. However, under the premise of not doing double-blind experiments, how much effect Lianhua Qing plague capsules play in the treatment of the new crown still needs further demonstration.
For traditional Chinese medicine, we cannot be overly superstitious, nor can we blindly belittle, we should look at it in a scientific manner, and return to the argument for the medicinal value of Chinese medicine, rather than using it as a drainage theme.
Two departments: It is strictly forbidden for online audio-visual platforms to spread illegal games
On April 15, the Department of Online Audio-visual Program Management of the State Administration of Radio and Television and the Publication Bureau of the Propaganda Department of the CPC Central Committee issued a notice on strengthening the management of live game broadcasting on online audio-visual program platforms: It is strictly forbidden for online audio-visual platforms to spread illegal games.
Specifically, all kinds of online audio-visual programs such as online film and television dramas, online variety shows, online live broadcasts, and short videos must not broadcast online games without the approval of the competent departments, and must not drain illegal game content of various platforms through live broadcast rooms and other forms. Strengthen the guidance of game anchors' codes of conduct. It is strictly forbidden for people who have violated the law and lost morality to use live broadcasts to speak out on camera. Supervise and urge online live streaming platforms to establish and implement mechanisms for the protection of minors. (Daily Economic News)
| reviews| the main audience of online games is low in age, and there are a large number of underage players, which is also an important reason why the relevant departments attach great importance to the supervision of game content. Although the country's restrictions on game version numbers are quite strict, there are still many illegal games online, especially some small games and web games. They only need a single URL to publish, which is very difficult to regulate.
These illegal games cannot be promoted through formal channels, so they turn to online channels. Sometimes a verbal recommendation from a popular anchor in the live broadcast room can guide many underage players to download illegal games, causing negative social impact. The notices of the two departments pointed to this chaos.
Musk's full acquisition of Twitter may be countered by "poison pills"
On April 15, Tesla CEO Elon Musk, Twitter's largest shareholder, offered to buy Twitter's issued common stock at a cash price of $54.20 per share, for a total of about $43 billion, tweet confirmed that it had received the offer and said its board would review the proposal.
Twitter is considering the "Poison Pill Plan," a legal mechanism to prevent Musk from significantly increasing his stake in the company. Previously, Twitter invited Musk to join the board. As a board member, Musk will be restricted to holding no more than 14.9 percent of Twitter's shares, which Musk later rejected. (The Paper)
| Reviews| Twitter is now more than just a social software, through which it can have a great impact on public opinion. Musk's style of acting is wild and he is a heavy user of Twitter. He didn't want to buy Twitter to pursue financial gain, but because he was dissatisfied with twitter's current management and believed that twitter could assume greater social responsibility.
On the other hand, Twitter is quite resistant to Musk's acquisition. In addition to the "poison pill plan", follow-up Twitter can also use strategies such as "golden parachute" and "white knight" to deal with the acquisition, and even if Twitter and Musk negotiate, the follow-up also needs to be passed by multiple government departments, and it is not in place that the money can complete the acquisition.
On Friday, the two markets rushed higher in the afternoon and fell back to the Shanghai index to hold 3200 points
On April 15, the weak shock of the three major A-share stock indexes probed down, testing the 3200 point support. In early trading, all three major stock indexes fell, with the Shenzhen Component Index falling more than 1% and the ChiNext Index falling more than 2% at one point. In the afternoon, the three major stock indexes once all turned red, the two cities industry sector fell, individual stocks fell more and rose less, and nearly 3700 shares in the two cities fell.
As of the close, the Shanghai index fell 0.45% to 3211.24 points, with a turnover of 413.50 billion yuan; the Shenzhen component index fell 0.56% to 11648.57 points, with a turnover of 497.74 billion yuan; the ChiNext index fell 0.24% to 2460.36 points, with a turnover of 163.19 billion yuan; and the two cities traded a total of 911.2 billion yuan. (Sina Finance)
| commented| the hot plate in the early stage of Friday continued to pull back, and the number of drops and stops increased. From the perspective of the disk, the institutional position adjustment was generally completed after the first quarter. From the perspective of the plate, the game mood of different stocks in the same sector is serious, and the pharmaceutical sector can reflect this well. The number of IPOs has surged this year, the overall supply and demand relationship in the market is unbalanced, and the phenomenon of market fragmentation will continue.
Many times investors will use the index as a reference to compare their returns with the index. In fact, the index can only reflect the overall trend, and there are still different rhythms within different sectors and individual stocks. The movement of stocks is like a symphony, and only by enduring the blandness of the prelude can you enjoy the excitement of the follow-up.
The contents of the stock market, funds and futures in this article are for reference only
Does not constitute investment advice
Column Editor-in-Chief | Wei Yingjie
Responsible Editor | He Mengfei | Editor-in-Chief | Zheng Yuanmei
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