【Key Focus】
•China Securities Regulatory Commission (CSRC) promulgated the Administrative Regulations on Programmatic Trading in the Securities Market (for Trial Implementation)
• Wu Qing: Resolutely keep counterfeiters out of the market and remove zombie enterprises, especially black sheep, from the market
• Lin'an District, Hangzhou: Acquired a batch of commercial housing in the district for use as public rental housing
• Inner Mongolia: By 2025, the output value of the lithium industry chain in the whole region will reach 70 billion yuan
【Domestic News】
•On May 15, the China Securities Regulatory Commission (CSRC) formulated and issued the Administrative Provisions on Programmatic Trading in the Securities Market (for Trial Implementation), which will be officially implemented on October 8, 2024. The "Administrative Provisions" closely focus on the main line of strengthening supervision, preventing risks and promoting high-quality development, adhere to the general idea of "pursuing advantages and avoiding disadvantages, highlighting fairness, effective supervision and standardized development", and make comprehensive and systematic provisions on the supervision of programmatic trading in the securities market (commonly known as quantitative trading in the market), which is an important measure to strengthen the supervision of market trading behavior.
•On May 15, the China Securities Regulatory Commission (CSRC) issued the Guidelines for the Application of Regulatory Rules – Issuance No. 10, which will come into effect immediately. The main contents of the guidelines include: First, issuers are required to publish a statement to investors in the prospectus, explaining the purpose of listing, the establishment of a modern enterprise system and the necessity of financing, and other basic information, urging issuers to firmly establish a correct "listing view". The second is to clarify that the "key minority" can make a commitment to extend the share lock-up period in the event of a sharp decline in performance after listing, and strengthen the awareness of the "key minority" to share risks with investors. The third is to improve the information disclosure rules of the post-listing dividend policy, so as to help investors form stable return expectations. Fourth, strengthen the disclosure of relevant information of unprofitable enterprises, requiring them to disclose forward-looking information such as expected profitability, so as to fully disclose the future development prospects to investors and facilitate investors' decision-making.
• On May 15, the China Securities Regulatory Commission (CSRC) released a summary of its enforcement in 2023. In 2023, the China Securities Regulatory Commission will investigate and prosecute 717 cases of securities and futures violations, a year-on-year increase of 19%; 539 administrative penalties were imposed, a year-on-year increase of 40%, and 1,073 persons (families) were punished, a year-on-year increase of 43%; 103 people were banned from the market, a year-on-year increase of 47%; fines and confiscations of 6.389 billion yuan, a year-on-year increase of 140%; 118 cases and clues of suspected securities and futures violations and crimes were transferred to the public security organs, effectively maintaining the operation order of the capital market, effectively protecting the legitimate rights and interests of investors, and the effectiveness of cracking down on securities and futures violations continued to be demonstrated, and the "zero tolerance" crackdown on high-pressure posture was continuously consolidated.
•The first "5.15 National Investor Protection Publicity Day" after the promulgation of the new "National Nine Measures" was held in Beijing. At the event, Wu Qing, chairman of the China Securities Regulatory Commission, said that listed companies are the foundation of the market, is the source of investment value, from the entrance of listed companies to continuous supervision, to the export, are establishing a more stringent institutional arrangements, the purpose is to resolutely keep counterfeiters out, the requirements of openness and transparency to implement the whole process of corporate information disclosure, the concept of respecting investors and rewarding investors, into the various mechanisms of corporate governance, and resolutely clear zombie enterprises, especially black sheep, from the market; As a "key minority", controlling shareholders, actual controllers, and directors, supervisors and senior executives must stand up to the front and shoulder their responsibilities.
•The National Development and Reform Commission announced that from 24 o'clock on May 15, domestic gasoline and diesel will be reduced by 235 yuan and 225 yuan per ton respectively. The national average is 0.18 yuan per liter for No. 92 gasoline, 0.19 yuan per liter for No. 95 gasoline, and 0.19 yuan per liter for No. 0 diesel. According to the estimation of the 50L capacity of the fuel tank of the average family car, it will cost 9 yuan less to fill up a tank of 92 gasoline.
•On May 15, Ling Ji, Vice Minister of Commerce and Deputy Representative of International Trade Negotiations, presided over a roundtable meeting on government procurement for foreign-funded enterprises. Representatives of foreign enterprises such as BD, Canon, General Electric, HP, IBM, Philips Healthcare, Roche Diagnostics, Siemens, and representatives of foreign business associations in China such as the European Union Chamber of Commerce in China, the American Chamber of Commerce in China, the Japan Chamber of Commerce in China, and the Korean Chamber of Commerce in China attended the meeting and delivered speeches.
•According to the Housing and Urban-Rural Development Bureau of Lin'an District, Hangzhou, the People's Government of Lin'an District has decided to purchase a batch of commercial housing for use as public rental housing within the Lin'an District. The listing is required to be located within the Lin'an District of Hangzhou. The basic conditions of the house are as follows: the whole building is used as the basic acquisition unit, and the construction area of a single set does not exceed 70 square meters; The number of parking spaces for sale in the house meets the matching conditions, that is, each set below 60 square meters (inclusive) is configured according to the proportion of 0.6 parking spaces, and each set above 60 square meters is configured according to the proportion of 1.0 parking spaces.
•Recently, a news that "Nanjing took the lead in lowering the interest rate of the first home loan" has attracted market attention. On May 15, the reporter learned from the industry that some banks in Nanjing are ready to adjust the execution interest rate of the first home loan to 3.45%. "I have received a 'verbal notice' from the bank today. Starting tomorrow, the mortgage rate of 3.45% will apply for the first home. The interest rate on second home loans remained unchanged at 4.25%. On May 15, a person from the Nanjing Personal Loan Center of the Industrial and Commercial Bank of China told reporters.
•According to the Securities Times, on May 13, it was reported from the 2nd Housing Expo of Hubei Province and the 42nd Wuhan Housing Fair that Wuhan has now had the first successful case of the "trade-in" model of real estate. According to local media reports, a resident of Qiaokou District, Wuhan City, replaced the original 105-square-meter old house with a commercial house under construction in the new community of about 128 square meters. After a third-party appraisal, the resident's old house was appraised at more than 900,000 yuan, and the total price of the new house in the new community he fancied was about 2.1 million yuan.
•The Department of Industry and Information Technology of Inner Mongolia issued the "Guiding Opinions on the Development of Lithium Industry in Inner Mongolia Autonomous Region". The "Opinions" make it clear that by 2025, the lithium industry chain of the whole region will be initially built, with a lithium concentrate capacity of 50,000 tons/year (equivalent to lithium carbonate), 520,000 tons/year of lithium iron phosphate cathode materials, 1.764 million tons/year of anode materials, 30,000 tons/year of electrolyte, 1.5 billion square meters/year of separators, 29GWh/year of batteries, and an output value of 70 billion yuan in the lithium industry chain.
【International News】
• The 2023 Northern Hemisphere summer is not only the hottest summer on record, but also the hottest in about two millennia, according to the latest research. According to a paper published in the British journal Nature on the 14th, the temperature in the summer of 2023 has topped the list for two thousand years. The researchers came to this conclusion by reviewing meteorological records from the mid-19th century and analysing tree rings from nine different locations in the Northern Hemisphere to obtain earlier temperature data.
• The growth outlook for global oil demand continues to soften this year amid an economic slowdown and a mild climate in Europe, according to the International Energy Agency (IEA). Global oil consumption is expected to increase by 1.1 million b/d this year, about 140,000 b/d less than expected a month ago and the second consecutive month of downward revision. This reflects a contraction in demand in rich countries in the first quarter and an upward revision to 2023 estimates. Sluggish industrial activity and another mild winter have weakened diesel consumption this year, especially in Europe, where the decline in the share of diesel vehicles has already led to a decline. The agency's forecast for 2025 has not changed, still expecting global oil demand to increase by 1.2 million b/d next year.
• The Eurozone economy is still heading towards a soft landing, with inflation falling faster than previously expected and accelerating growth continuing into next year, the European Commission said in a report. GDP will grow by 0.8% this year and 1.4% in 2025, little changed from the forecast three months ago. Inflation is expected to slow to 2.5% this year and 2.1% next year, compared to 2.7% and 2.2% previously.
•A research report released on the 14th shows that the upcoming Paris Olympics this summer are expected to bring more than 10 billion euros to the economic benefits of the Paris Region. Researchers at the Center for Sports Law and Economics, an independent French agency, estimated that the Olympics would bring between 6.7 billion and 11.1 billion euros to the Paris region, taking into account a number of factors related to the construction of the Olympics, tourism and the organization of the event itself, AFP reported.
【List of domestic and overseas markets】
【Economic Data and Dynamics (Beijing Time)】
Editor: Gao Ershan
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