【Key Focus】
•The Political Bureau of the Central Committee of the Communist Party of China held a meeting on April 30 to analyze and study the current economic situation and economic work
•The two departments worked together to improve the beneficial owner information filing system to help prevent violations such as shell companies and nested shareholdings
•The Shanghai Stock Exchange and the Shenzhen Stock Exchange officially issued 9 rules, including the Rules for the Review of Stock Issuance and Listing
• Beijing: 2 Suites Beijing families can purchase 1 new apartment outside the 5th Ring Road
【Domestic News】
•The Political Bureau of the Central Committee of the Communist Party of China (CPC) held a meeting on April 30 to analyze and study the current economic situation and economic work, pointing out that "the economy has achieved a good start", emphasizing that "the economy still faces many challenges in sustaining the economic recovery" and "it is necessary to enhance the confidence in doing a good job in economic work".
•The People's Bank of China and the State Administration for Market Regulation jointly issued the Measures for the Management of Beneficial Owner Information on April 30, which will come into effect on November 1, 2024. It is understood that promoting the construction of the beneficial owner information filing system can more clearly and unambiguously reflect the equity structure and ultimate control and benefits of companies and other entities, improve market transparency, enhance information symmetry and mutual trust between business entities, improve transaction security and transaction efficiency, and further optimize the business environment in the mainland.
•AMAC issued the "Guidelines for the Operation of Private Securities Investment Funds" on the 30th, which clearly requires that private securities funds participating in DMA business shall not exceed 2 times leverage. It also requires that the notional principal of the contract for private securities funds to participate in snowball-structured derivatives shall not exceed 25% of the fund's net assets, which is in line with the implementation caliber of the private asset management plan of securities and futures operating institutions to participate in snowball-structured derivatives to reduce regulatory arbitrage space.
•The China Securities Regulatory Commission (CSRC) issued a decision on amending the List of Random Spot Checks of the China Securities Regulatory Commission, which mentions that, in light of the actual on-site inspection work of IPO enterprises, the random inspection ratio of item 1 "inspection of IPO enterprises" listed in the annex of the List will be revised from "the proportion of random lottery is 5%" to "the proportion of random lottery is 20%".
•The China Securities Regulatory Commission (CSRC) issued guidelines for companies listed on the National Equities Exchange and Quotations (NEEQ) to apply for issuance and listing on the Beijing Stock Exchange to further optimize the guidance and supervision of the Beijing Stock Exchange.
•Shenzhen Stock Exchange answers reporters' questions on the official release of 9 rules including the "Rules for the Review of Stock Issuance and Listing": Optimizing the positioning of the sector is an important arrangement to improve the multi-level capital market system and promote high-quality development. The Shenzhen Stock Exchange will moderately increase the compound growth rate index of operating income. Emphasizing the growth requirements of the GEM, the compound growth rate of operating income in the GEM positioning evaluation criteria will be moderately increased from 20% to 25%, and supporting the listing of growth-oriented innovative and entrepreneurial enterprises with development potential on the GEM.
•On April 30, the Shanghai Stock Exchange issued the Rules for the Review of Stock Issuance and Listing on the Shanghai Stock Exchange (Revised in April 2024), which will come into force on the date of promulgation. It is mentioned that the requirements for the positioning of the plate should be clarified. From the aspects of industry status, business scale, core technology and process, industry trends, operational stability, transformation and upgrading, etc., the specific requirements for issuers and sponsors to evaluate and judge the positioning of the main board are further clarified. At the same time, the main service direction of the Science and Technology Innovation Board will be further clarified.
•On April 30, the Shanghai Stock Exchange officially issued 9 supporting business rules, including the "Stock Issuance and Listing Review Rules", including 5 major business rules such as the "Stock Issuance and Listing Review Rules", which has been publicly solicited for comments, as well as 4 supporting business rules and guidelines.
•On April 30, the Beijing Municipal Commission of Housing and Urban-Rural Development issued the Notice on Optimizing and Adjusting the Housing Purchase Restriction Policy in Beijing, which proposes that households with household registration in Beijing (including families of active military personnel and active armed police officers stationed in Beijing, holding a valid Beijing Work and Residence Permit) Families with household registration in Beijing or adult singles who have paid social insurance or individual income tax in Beijing for more than 5 consecutive years (inclusive) can purchase a new set of commercial housing (including newly built commercial housing and second-hand housing) outside the Fifth Ring Road.
•The reporter learned from the Ministry of Emergency Management on the 30th that the General Office of National Defense and the Ministry of Emergency Management organized the China Meteorological Administration, the Ministry of Water Resources and other relevant departments to carry out joint consultations on the same day, and dispatched Guangdong, Fujian, Zhejiang, Jiangxi, Chongqing and other provinces by video to study and judge the flood prevention and disaster relief situation in key areas during the "May Day" holiday, and deploy prevention and response work.
• On April 30, 16.421 million passengers were sent by railways across the country. It is estimated that on May 1, the national railway will send 20.4 million passengers, and it is planned to run 12,803 passenger trains and add 1,738 trains.
【International News】
• The Conference Board's consumer confidence index recorded 97 in April, with an expectation of 104 and a previous value of 104.7.
The FHFA home price index in the United States recorded a monthly rate of 1.2% in February, and the S&P/CS20 major city home price index recorded an annual rate of 7.3% in February.
Eurozone flash Q1 GDP came in at 0.4% vs. 0.2% expected and 0.1% previously, and 0.3% QoQ with 0.2% expected and 0% prior.
Eurozone preliminary CPI in April recorded 2.4% y/y, expected 2.4%, previous 2.4%, April CPI recorded 0.6%, expected 0.6%, previous value 0.8%.
ECB Governing Council member Hernandez de Cos said the ECB should start cutting interest rates in June if inflation continues to slow as expected.
• ECB Governing Council member Holzman said the central bank should avoid back-to-back rate cuts in June and July.
• Poland's central bank member Kotecki said that the core inflation situation does not yet allow the Polish central bank to ease monetary policy.
• Andrew Bowie, the British Secretary of State for Nuclear Energy and Renewable Energy, who is attending the G7 meeting in the northern Italian city of Turin, revealed on the 29th that representatives of the seven countries attending the meeting have agreed on a timetable for phasing out coal-fired power plants and will work to achieve this goal by 2035. However, the Italian side called this deadline "only hypothetical".
• Bank of Japan account data showed that Japan may have intervened in the foreign exchange market on April 29, buying a large amount of yen, with an intervention of about 5.5 trillion yen.
【Announcement of Listed Companies】
【Economic Data and Dynamics (Beijing Time)】
Editor: Wang Shurui
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