National Data Bureau: Improve the design of policy tools such as hash power coupons and data center REITs

【Market Data】

At the close of trading on January 3, the Shanghai Composite Index rose 0.17% to 2,967.25 points, the STAR 50 Index fell 1.19% to 829.77 points, the Shenzhen Component Index fell 0.75% to 9,330.86 points, and the ChiNext Index fell 1.14% to 1,834.73 points. The total turnover of the Shanghai and Shenzhen stock exchanges was 737.5 billion yuan.

In terms of U.S. stocks, the three major stock indexes closed down across the board, with the Dow down 0.76% at 37,430.19, the S&P 500 down 0.8% at 4,704.81, and the Nasdaq down 1.18% at 14,592.21.

International oil prices rose significantly on the 3rd. By the end of the day, light crude futures for February delivery on the New York Mercantile Exchange rose $2.32, or 3.3 percent, to settle at $72.70 a barrel, and London Brent crude futures for March delivery rose $2.36, or 3.11 percent, to settle at $78.25 a barrel.

In terms of U.S. bonds, the yield on the 10-year Treasury bond fell 4 basis points from yesterday to 3.91%, according to Flush iFinD. In foreign exchange, USD/CNH rose 0.2448% to 7.16655, while USD/CNY rose 0.2495% to 7.1515.

【Financial News】

1. According to CCTV, Li Qiang, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Premier of the State Council, conducted research in Hubei from January 2 to 3. In Wuhan, Li Qiang successively came to YMTC and Huagong Laser Company to visit the production line and gain an in-depth understanding of the development of flash memory chips and laser industries. Li Qiang praised the achievements of enterprise innovation and development, and emphasized that it is necessary to further play the role of the main body of enterprise scientific and technological innovation, improve the collaborative innovation mechanism of industry, university and research, implement more precise support policies, and transform more and better scientific research achievements into real productivity. At the State Key Laboratory of Information Engineering in Surveying, Mapping and Remote Sensing of Wuhan University, Li Qiang listened to the report on the research and development of major projects and the transformation of achievements, fully affirmed their achievements, and hoped that they would vigorously promote the application of multiple scenarios, gather and integrate more innovative resources, achieve greater breakthroughs in key core technologies, and make more contributions to the country's high-level scientific and technological self-reliance and self-reliance.

2. According to Xinhua News Agency, the National Development and Reform Commission, the National Data Bureau and other departments recently jointly issued the "Implementation Opinions on In-depth Implementation of the "Eastern Data and Western Computing" Project and Accelerating the Construction of a National Integrated Computing Network. As for how to better promote the implementation of the opinions, the National Data Bureau said that it will focus on four aspects of work in the near future: First, strengthen top-level coordination. Relying on the coordination mechanism for promoting the construction of new infrastructure, the National Development and Reform Commission and the National Data Administration, together with the Cyberspace Administration of the People's Republic of China, the Ministry of Industry and Information Technology, and the National Energy Administration, have strengthened overall planning and promotion efforts to coordinate and solve problems existing in the construction process. The second is to improve the policy system. Carry out special research on key issues, improve the design of policy tools such as hash power coupons and data center REITs, and strengthen the support of policy-based financial instruments. The third is to implement demonstration projects. Focusing on the overall layout of data infrastructure, carry out the construction of a national integrated computing power network demonstration project. Fourth, strengthen evaluation and supervision. Set up a special working group, continue to carry out policy implementation tracking, and establish a normalized computing power statistical monitoring mechanism.

3. According to the official website of the National Development and Reform Commission, from January 2 to 3, the National Development and Reform Commission organized a conference on innovative development of the "Jinjiang experience" to promote the high-quality development of the private economy in Jinjiang City, Fujian Province. The meeting stressed that the basic trend of the mainland's economic rebound and long-term improvement has not changed. As a new force to promote Chinese-style modernization, the development trend of the private economy has been positive for a long time, with broad prospects and unlimited opportunities. The private economy has become an important support for promoting the sustained and healthy development of the mainland economy, an important carrier of scientific and technological innovation, an important subject for smoothing the domestic and international dual circulation, and an important force for improving people's livelihood and well-being.

4. According to the official website of the Ministry of Industry and Information Technology, on January 3, the Ministry of Industry and Information Technology and other 11 departments issued the "Notice on Carrying out the Special Action of "Signal Upgrade", and by the end of 2025, more than 120,000 key places will achieve deep mobile network coverage, 30,000 kilometers of railways, 500,000 kilometers of highways, and 200 subway lines will achieve continuous mobile network coverage. The depth and breadth of 5G network coverage continued to improve, and the proportion of 5G traffic increased significantly. The average downlink access rate of the mobile network shall not be less than 220 Mbps, the average uplink access rate shall not be less than 45 Mbps, the main service indicators such as lag and latency shall be fully optimized, and the proportion of the mobile network compliance rate shall not be less than 95%.

5. According to the website of the Ministry of Industry and Information Technology on January 3, the Ministry of Industry and Information Technology, the National Development and Reform Commission, the Ministry of Science and Technology, the Ministry of Natural Resources and other eight departments recently issued the "Implementation Plan for Promoting the Efficient and High-value Utilization of Phosphorus Resources". The "Implementation Plan" proposes that by 2026, the sustainable guarantee capacity of phosphorus resources will be significantly enhanced, the independent innovation ability and green safety level of phosphorus chemical industry will be steadily improved, the supply capacity of high-end phosphorus chemicals will be greatly improved, the ability of regional complementary advantages and linkage development will be continuously enhanced, and the resilience and safety level of the industrial chain and supply chain will be more stable.

6. According to the surging news, the retail price limit of refined oil in the new year has been adjusted above the beginning. The National Development and Reform Commission announced on January 3 that according to the recent changes in oil prices in the international market, according to the current refined oil price formation mechanism, from 24 o'clock on January 3, 2024, domestic gasoline and diesel prices (standard products) will be increased by 200 yuan and 190 yuan per ton respectively. The above amplitude adjustment is equivalent to an increase of 0.16 yuan, 0.17 yuan and 0.16 yuan respectively for No. 92 gasoline, No. 95 gasoline and No. 0 diesel. Calculated for ordinary private cars with a fuel tank capacity of 50L, after this price adjustment, it will cost 8 yuan more to fill up a tank of 92 gasoline, and 8.5 yuan more to fill up a tank of 95 gasoline, and the retail price limit of 92 gasoline in most areas of the country is about 7.5 yuan/liter.

7. According to the official website of the National Health Insurance Administration, on January 3, the National Health Insurance Administration said in response to the suggestions of the National People's Congress that it would tilt towards essential drugs in terms of catalogue adjustment access, and take the national essential drugs as one of the declaration conditions for the medical insurance drug catalogue, reduce restrictions and expand the scope. In the process of adjustment, we will support the priority of essential drugs in the list. Except for a few varieties, the drugs in the latest version of the National Essential Medicines List have basically all been included in the scope of reimbursement by basic medical insurance. At the same time, we will increase support in terms of the scope of medical insurance payment. In the 2022 catalogue adjustment work, the focus will be on restoring the payment scope of selected drugs and essential drugs in the national centralized procurement to the indications or functional indications of the instructions to support clinical use.

8. According to the "Report of the State Council on the Allocation and Use of Fiscal and Cultural Funds" released on the official website of the Ministry of Finance on January 3, in 2023, the national budget for fiscal and cultural funds will be 393.37 billion yuan, an increase of 3.58 billion yuan over 2022. Among them, the general public budget expenditure was 389.66 billion yuan, an increase of 3.07 billion yuan over 2022, which effectively guaranteed the expenditure of key projects.

9. According to the China Securities Journal, the Party Committee of the State-owned Assets Supervision and Administration Commission of the State Council held an enlarged meeting on the 2nd to emphasize that the central enterprises should work hard to get off to a good start and make a good start, and strive to achieve a "good start" in the first quarter, effectively improve expectations, boost confidence, and better play the role of stabilizer and ballast. The meeting pointed out that 2024 is the 75th anniversary of the founding of the People's Republic of China and a key year to achieve the goals and tasks of the 14th Five-Year Plan. It is necessary to adhere to and strengthen the party's overall leadership over state-owned central enterprises, focus on enhancing core functions and improving core competitiveness, deeply implement the deepening and upgrading of state-owned enterprise reform, strive to improve the innovation ability and value creation ability of central enterprises, promote the "three concentrations" of state-owned capital, accelerate the construction of a modern industrial system, achieve high-quality development, and better play the role of scientific and technological innovation, industrial control and security support.

10. According to The Paper, on January 3, the Law Enforcement Corps of the Shanghai Municipal Administration for Market Regulation signed a memorandum of cooperation and co-governance with 17 Internet platform companies, including Xiaohongshu, Pinduoduo, Ctrip, Meifang, Dewu, Meituan, and Ele.me. Based on the Memorandum of Co-governance, the Law Enforcement Corps will take the initiative to provide platform enterprises with data such as typical cases of violations of laws and regulations, public opinion information disposal, etc., and strengthen administrative guidance and reminders and warnings for platform enterprises. Through regular guidance, platform enterprises are regularly provided with typical cases of "warning" violations, so as to help platform enterprises improve the efficiency of identifying and disposing of potential illegal acts, and improve the level of Internet governance.

11. According to brokerage China, at 3 a.m. Beijing time on January 4, the Federal Reserve released the minutes of its December 2023 monetary policy meeting. The minutes showed that Fed policymakers appeared more confident in curbing high inflation, believing that the risk of upward inflation has decreased, and it is expected that the next year may be suitable for interest rate cuts, but the path of interest rates is still very uncertain, and many policymakers believe that interest rates may remain high for longer.