April 23, 2024
Quick facts
■ On the afternoon of April 22, the State Council conducted the seventh special study with the theme of "Further Deepening the Reform of the Capital Market and Promoting the Steady and Healthy Development of the Capital Market". Premier Li Qiang stressed that it is necessary to thoroughly study and implement the spirit of General Secretary Xi Jinping's important instructions on the development of the capital market, accelerate the construction of a safe, standardized, transparent, open, dynamic and resilient capital market in accordance with the decisions and arrangements of the Party Central Committee, and better play the functional role of the capital market, promote the construction of a financial power, and serve the overall situation of Chinese-style modernization.
■ The General Office of the Central Committee of the Communist Party of China and the General Office of the State Council recently issued the "Opinions on Improving the Volunteer Service System in the New Era", which is the first central document to systematically deploy and improve the volunteer service system in the new era, which is of great significance for improving the volunteer service system and work system and promoting the long-term development of volunteer service.
■ On April 22, Foreign Ministry Spokesperson Wang Wenbin held a regular press conference. Wang Wenbin announced that at the invitation of Wang Yi, member of the Political Bureau of the CPC Central Committee and Minister of Foreign Affairs, US Secretary of State Antony Blinken will visit China from April 24 to 26.
■ Since April, due to factors such as the lowering of deposit interest rates and the suspension of the sale of large-amount certificates of deposit by some banks, some banks have experienced a situation where it is difficult to find a single debt for savings bonds. On April 22, Li Xianzhong, director of the Treasury Department of the Ministry of Finance, responded at a press conference of the State Council Information Office that the Ministry of Finance will pay close attention to the changes in the supply and demand relationship and sales of savings treasury bonds, study the appropriate increase in the scale of issuance, further reduce the purchase limit for single persons, and steadily increase the sales of electronic savings bonds online (mobile phone).
■ The reporter learned from the press conference held by the State Council Information Office on April 22 that in the first quarter, the national fiscal revenue and expenditure operated steadily: the national general public budget revenue was 6,087.7 billion yuan, which continued to maintain a recovery growth trend on a comparable basis, and the scale of the national general public budget expenditure was nearly 7 trillion yuan, and the key expenditures were well guaranteed.
■ On April 22, the Office of the National Disaster Prevention, Mitigation and Relief Committee and the Ministry of Emergency Management, together with the State Food and Material Reserves Administration, allocated 6,000 folding beds, 6,000 towels and quilts, 3,000 family emergency kits and other central disaster relief materials to Guangdong Province in accordance with the impact of the disaster and the needs of local disaster relief work, and fully supported Guangdong to do a good job in the relocation and resettlement of the affected people.
Economics and Finance
■ On April 22, the China Securities Regulatory Commission (CSRC) released the latest article on its official website, "Persisting in Promoting Financial Innovation and Development on the Track of Marketization and Rule of Law - Learning from Xi Jinping's Excerpts on Financial Work". (Details)
■ On April 22, the People's Bank of China issued the Detailed Rules for the Implementation of the Regulations on the Supervision and Administration of Non-bank Payment Institutions (Draft for Comments). It further clarifies the important concepts and connotations in the Regulations on the Supervision and Administration of Non-bank Payment Institutions issued in December 2023, refines the administrative licensing provisions, and does a good job in undertaking bridging clauses. (Details)
■ The National Interbank Lending Center authorized by the People's Bank of China announced that the loan market quotation rate (LPR) on April 22, 2024 will be 3.45% for 1-year LPR and 3.95% for LPR over 5 years. The LPR of both varieties was unchanged from the previous month.
■ According to the latest quarterly report of the fund, Central Huijin Investment Co., Ltd. has bought a number of broad-based ETFs, including Huatai Pinebridge CSI 300 ETF, E Fund CSI 300 ETF, ChinaAMC SSE 50 ETF, Harvest CSI 300 ETF, ChinaAMC CSI 300 ETF, etc. The total amount has exceeded 310 billion yuan.
■ On April 19, the Xinjiang Supervision Bureau of the State Administration of Financial Supervision issued three approvals, agreeing to the transformation of Korla Bank into Bayingolin Branch of Xinjiang Bank and the opening of its business, the renaming of 15 branches of Xinjiang Bank, and the change of registered capital of Xinjiang Bank. According to the reply, it was agreed that Korla Bank would be rebuilt into Bayingolin Branch of Xinjiang Bank and opened, and the "Financial License" would be issued.
Social hotspots
■ The reporter learned from the relevant departments of Guangdong Province on April 22 that the heavy rainfall in many places in Guangdong has caused 4 deaths, and 10 people are still missing. The reporter learned on the 22nd that three people died in Zhaoqing City due to heavy rainfall. One rescuer died in Shaoguan City. Up to now, 10 people are still missing in Shaoguan City, Qingyuan City and other places. At present, the missing person is still being searched and rescued.
■ The China Earthquake Network officially determined that at 18:50 on April 22, a 5.7-magnitude earthquake occurred in Hualien County, Taiwan (23.76 degrees north latitude, 121.51 degrees east longitude), with an epicenter depth of 10 kilometers.
■ On April 22, the official announced that with the approval of the Central Committee of the Communist Party of China, the Central Commission for Discipline Inspection and the State Supervision Commission filed a case for review and investigation of Han Yong, former deputy director of the Population, Resources and Environment Committee of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) and former secretary and chairman of the party group and chairman of the Shaanxi Provincial Committee of the Chinese People's Political Consultative Conference. With the approval of the CPC Central Committee, the Central Commission for Discipline Inspection and the State Supervision Commission filed a case for examination and investigation into the serious violation of discipline and law by Zhang Xiulong, former deputy secretary of the leading party group and deputy director of the Standing Committee of the Guangxi Zhuang Autonomous Regional People's Congress.
■ According to the Yunnan Provincial Commission for Discipline Inspection and Supervision of the Provincial Rural Credit Cooperative, the Discipline Inspection and Supervision Group, and the Longchuan County Supervision Committee, Peng Mingchang, Secretary of the Party Committee and Chairman of Yunnan Longchuan Rural Commercial Bank, is suspected of serious violations of discipline and law, and is currently undergoing disciplinary review and supervision investigation.
International dynamics
■ According to CCTV News, on April 22, the "State of the Climate in Europe Report" jointly released by the World Meteorological Organization and the Copernicus Climate Change Service, the European Union's climate monitoring agency, pointed out that Europe experienced widespread floods and severe heat waves in 2023, and the economic losses related to weather and climate in Europe are expected to exceed 13.4 billion euros. Europe is the fastest warming continent, with temperatures rising about twice as fast as the global average.
■ According to the International Monetary Fund (IMF), Japan's nominal GDP (gross domestic product) will be overtaken by India by 2025 and fall to fifth place in the world, which is a year earlier than the previous forecast, according to a comprehensive Japanese media report by China News Network.
Editor: Yang Jingyi E-mail: [email protected]
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