The bond market collectively rose to a new high, and Alipay, WeChat and other non-bank payments welcomed the new regulations

Guide The Ministry of Finance continued to speak out, and the bond market collectively rose to a new high Many places announced plans for the issuance of local bonds in May In the field of Internet finance, normative documents have been issued The concept of interconnected finance had a net outflow of 410 million yuan on the 23rd Sprinkled 1.4 billion coins for payment licenses, and Douyin called Alipay and WeChat Alipay, WeChat Pay and other non-bank payment welcome regulations The general manager of another fund company has resigned This kind of fund has increased its position in a big way! The Beijing Stock Exchange and the National Equities Exchange and Quotations Company released the evaluation of the practice quality of securities companies in the first quarter, and the top of the list was changed The second shareholder of this brokerage company plans to "get rid of" nearly half of its shares The Ministry of Finance continued to speak out, and the bond market collectively rose to a new high

On April 23, treasury bond futures closed up collectively, with the 30-year main contract hitting a record high of 108.48 and closing up 0.49% at 108.35, the 10-year main contract up 0.17% at 104.845, the 5-year main contract up 0.11% at 103.61, and the 2-year main contract up 0.03% at 101.746.

On the same day, the People's Bank of China launched a 2 billion yuan, 7-day reverse repurchase operation in the form of interest rate bidding, and the winning interest rate was 1.80%. On the same day, a 7-day reverse repurchase of 2 billion yuan expired, achieving zero investment and zero withdrawal.

In the past two days, there have been policy developments in treasury bonds and special bonds, and the central bank has increased the scale of treasury bond purchases.

Recently, the National Development and Reform Commission and the Ministry of Finance completed the screening of local government special bond projects in 2024, and a total of about 38,000 special bond projects were screened and approved, and the demand for special bonds in 2024 was about 5.9 trillion yuan, laying a solid project foundation for the issuance and use of 3.9 trillion yuan of special bonds this year.

Many places announced plans for the issuance of local bonds in May

A few days ago, according to the Zhejiang Provincial Department of Finance, Zhejiang Province plans to issue 30 billion yuan of new special bonds in late May 2024, with bond maturities of 3 years, 5 years, 7 years, 10 years, 15 years, 20 years, and 30 years.

In addition, the Fujian Provincial Department of Finance plans to issue 20 billion yuan of new special bonds in early May and 11.7 billion yuan of refinancing bonds in late May, including 4.5 billion yuan of general bonds and 7.2 billion yuan of special bonds. Guizhou Province issued arrangements for the issuance of local government bonds, and plans to issue 8,208.86 million yuan of general bonds and 9,912.19 million yuan of special bonds in May, totaling 18,121.05 million yuan. Jiangsu Province issued a local government bond issuance arrangement, and in May, it plans to issue 11.878 billion yuan of refinancing general bonds and 47.796 billion yuan of refinancing special bonds, totaling 59.674 billion yuan.

In the field of Internet finance, normative documents have been issued

A few days ago, the second meeting of the second council of the Internet Finance Association of China was held in Beijing, and the self-discipline normative documents such as the Guidelines for Internet Financial Institutions to Respond to Abnormal Rights Protection, the Guidelines for the Online Release of Rights Protection Information in the Financial Field, and the Guidelines for Post-loan Collection Business of Internet Finance were deliberated and approved.

Shan Qiang, Secretary of the Party Committee and President of the Internet Finance Association of China, said that it is an inevitable requirement to implement the spirit of the Central Financial Work Conference to help do a good job in digital finance with high-level industry self-discipline. The first is to clarify the main line of work, focusing on mobile financial APP, digital supply chain finance, Internet consumer finance, Internet financial anti-money laundering, digital credit investigation and other fields, forming a "combination punch", consolidating the fundamentals, and fighting a tough battle. The second is to strengthen mechanism innovation, and further establish and improve working mechanisms such as the transmission of regulatory policies in the field of digital finance, feedback on member demand response, consultation and research on major market issues, industry information exchange and sharing, and evaluation and evaluation of innovative applications. The third is to enhance service capabilities, keep a deaf eye to member demands, industry needs, and market voices, and jointly build a healthy, balanced, and active digital financial ecosystem. Fourth, do a good job in organizational governance, thoroughly study and improve the work processes and management mechanisms such as the board of directors and special committees, and implement the goals and requirements of the Party Central Committee on the reform and development of social organizations.

The concept of interconnected finance had a net outflow of 410 million yuan on the 23rd

On April 23, the concept of interconnected finance rose 0.43%, and today's main capital outflow was 410 million yuan, with 107 concept stocks rising and 86 falling.

The top net outflows of major funds were Wall Nuclear Materials (149 million yuan), Industrial Bank (112 million yuan), Satellite Chemical (97.3543 million yuan), Bank of Ningbo (91.9109 million yuan), and Bank of Hangzhou (71.4119 million yuan).

Sprinkled 1.4 billion coins for payment licenses, and Douyin called Alipay and WeChat

Recently, Hailian Jinhui, an A-share listed company, announced that it plans to transfer its subsidiary, UMF, to Tianjin Tongrong, a byte-based company. The costs of the transaction include the benchmark transfer consideration of $750 million, net assets at the closing date, and other adjustments.

It is estimated that Douyin will cost almost 1.4 billion yuan.

In the past two years, many other businesses of Douyin have been shrinking, either laying off employees, or directly packaging and selling the business.

After the acquisition is completed, Douyin will obtain an offline acquiring business license, and Douyin Pay will be able to pay by swiping a bank card or scanning a QR code in offline stores.

Alipay, WeChat Pay and other non-bank payment welcome regulations

The Regulations on the Supervision and Administration of Non-bank Payment Institutions will come into force on May 1, 2024. In order to ensure the implementation of the Regulations, the People's Bank of China has researched and drafted the Detailed Rules for the Implementation of the Regulations on the Supervision and Administration of Non-bank Payment Institutions (Draft for Comments), which is now open to the public for comments.

The general manager of another fund company has resigned

On April 23, the announcement of Rongtong Fund showed that Zhang Fan, the general manager of the company, resigned due to personal family reasons, and Shang Xiaohu, deputy general manager, performed the duties of general manager on his behalf. According to public information, Zhang Fan officially became the general manager of Rongtong Fund in June 2017 and has served for nearly 7 years.

In December 2021, the dust settled on the equity change project of the original New Era Securities, the controlling shareholder of Rongtong Fund, and China Chengtong Group finally acquired 98.24% of the equity of the original New Era Securities at a price of 13.135 billion yuan. In March 2022, the China Securities Regulatory Commission approved China Chengtong Group to become a major shareholder of New Era Securities and the actual controller of Rongtong Fund. The original New Era Securities was renamed Chengtong Securities, officially becoming a subsidiary of a central enterprise, and Rongtong Fund became a central enterprise fund company.

Industry insiders believe that the deputy general manager of the Rongtong Fund will perform the duties of the general manager on behalf of the deputy general manager with a professional background in investment research, or based on the consideration of strengthening the company's core capacity building of investment research.

In the process of rapid development of the fund industry, personnel changes in fund companies have been in full swing. As of April 21, a total of 17 general managers of 10 fund companies have changed this year, which is the epitome of senior management changes in recent years. The change of senior management will bring fresh blood to the fund industry, bring new force to the operation and management of fund companies, and lay a good foundation for the high-quality development of the fund industry with the continuous addition of outstanding talents.

This kind of fund has increased its position in a big way!

In the first quarter of this year, the Hong Kong stock market continued to fluctuate and adjust, but despite this, there were still some Hong Kong stocks that were heavily increased by public offerings, involving optional consumption, health care, materials, information technology and other industries. Tencent Holdings, Meituan-W, Kuaishou-W, Xiaomi Group-W, etc. are heavy stocks of the Cross-Border Connect Fund.

A number of fund managers said that the liquidity of Hong Kong stocks is expected to usher in substantial improvement in the middle of the year, and they expect Hong Kong stocks to start a double-click market of earnings and valuation repair. Optimistic about investment opportunities in innovative drugs, Internet, electronics and so on.

Wind data shows that there are more than 150 active equity funds with the word "Hong Kong" in more than 3,500 cross-border funds (only the initial share is counted), and these are all "high-purity" funds with Hong Kong stocks as the investment direction. As of the end of the first quarter of this year, the average position of these funds in Hong Kong stocks was 61.96%, which was in a neutral position. Among them, more than 80% of the funds with Hong Kong stock positions account for more than 40%.

In the first quarter of 2024, the Hong Kong stock market was volatile and downward, lagging behind most major markets around the world. From the perspective of industry performance, in the first quarter of the Hong Kong stock market, petroleum and petrochemical, non-ferrous metals, new energy and other industries rose first, while computer, pharmaceutical, steel and other industries lagged behind. Stylistically, value continues to outperform growth.

The evaluation of the practice quality of securities companies in the Beijing Stock Exchange and the New Third Board market has been changed at the top of the list

A few days ago, the Beijing Stock Exchange and the National Equities Exchange and Quotations Company released the results of the evaluation of the practice quality of securities companies in the first quarter of 2024, which comprehensively reflects the practice quality of securities companies in the Beijing Stock Exchange and the New Third Board market. From the evaluation results, it can be seen that in the first quarter of 2024, there will be a major reshuffle in the ranking of the practice quality evaluation of brokers, and more than half of the seats in the top 10 have changed.

The practice quality evaluation system consists of two parts: professional quality score and compliance quality deduction score, and the professional quality score mainly involves the three business dimensions of investment banking, brokerage and research of securities firms. The score is calculated as a base score of 100, plus the professional quality score, minus the compliance quality deduction. A total of 101 brokerages participated in the evaluation.

Among the 101 brokerages, 98 brokerages scored more than 100 points, and the top three were First Capital, Zhongtai Securities and China Securities Construction Investment, with scores of 137.15 points, 135.73 points and 127.08 points respectively. Kaiyuan Securities, CITIC Securities, Minsheng Securities, Wanlian Securities, China Galaxy and Zheshang Securities followed closely behind, with scores of more than 120 points.

Compared with the 2023 annual evaluation results, the ranking of evaluation results in the first quarter of 2024 has changed significantly. Specifically, the top three in the annual ranking in 2023 are CITIC Securities, Shenwan Hongyuan and China Securities Construction Investment, while in the first quarter of 2024, the ranking of First Capital jumped from the previous 48th to the 1st, and Zhongtai Securities rose from the 7th to the 2nd.

Judging from the professional quality score in the first quarter of 2024, some small and medium-sized characteristic brokerages continue to work hard and perform well. First Capital ranked first with a score of 37.15 points, followed by Zhongtai Securities, Kaiyuan Securities and China Securities Construction Investment Co., Ltd. with scores of more than 30 points.

In terms of the scores of subdivided business items, the highest scores of the sponsorship business and the issuance and M&A business of the Beijing Stock Exchange are all from First Capital, the highest score of the market-making business of the Beijing Stock Exchange comes from Guojin Securities, the highest scores of the recommended listing business, issuance and M&A business and continuous supervision business of the National Equities Exchange and Quotations System are all from Kaiyuan Securities, and the highest score of the market-making business of the National Equities Exchange and Quotations System is from Northeast Securities. In terms of research business, Kaiyuan Securities also ranked first.

The second shareholder of this brokerage company plans to "get rid of" nearly half of its shares

According to the announcement issued by Jinlong shares a few days ago, Western Mining, a shareholder of Zhongshan Securities, a holding subsidiary of the listed company, intends to transfer part of its equity in Zhongshan Securities.

Western Mining Group Co., Ltd., the second shareholder of Zhongshan Securities, intends to transfer part of its equity (82 million shares) held by Zhongshan Securities to Dongguan Yanyu Industrial Investment Co., Ltd. at a price of nearly 300 million yuan. It is worth noting that the transfer price of Western Mining is basically the same as the listed transfer price eight years ago, which means that the stake has not increased in recent years.

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