May 16, 2024
Quick facts
■ Xi Jinping, General Secretary of the CPC Central Committee, President of the People's Republic of China, and Chairman of the Central Military Commission, replied to the villagers in Shixia Village, Badaling Town, Yanqing District, Beijing on May 14, extending sincere greetings and raising ardent expectations to them.
■ The 10th issue of Qiushi magazine published on May 16 published an important article by Xi Jinping, General Secretary of the CPC Central Committee, President of the People's Republic of China, and Chairman of the Central Military Commission, entitled "Comprehensively Deepening Reform and Opening-up, Continuously Injecting Strong Impetus into Chinese-style Modernization". This is an excerpt from General Secretary Xi Jinping's important discourse from December 2012 to March 2024. 【Details】
■ According to Xinhua News Agency on May 15, the Russian version of the book "Excerpts from Xi Jinping's Discourse on Chinese-style Modernization" translated by the Institute of Party History and Literature of the Central Committee of the Communist Party of China was recently published by the Central Compilation and Publishing House and distributed at home and abroad.
■ In response to the US announcement of new tariffs on China, Foreign Ministry spokesperson Wang Wenbin said at a regular press conference on May 15 that the Chinese authorities have issued a press release on relevant issues, which can be consulted. The US continues to politicize economic and trade issues and further increase tariffs on China, which is a mistake on top of a mistake, which will only significantly increase the cost of imported goods, make US companies and consumers bear more losses, and make US consumers pay a greater price.
■ The National Immigration Administration issued an announcement on May 15 that after consulting with the Ministry of Foreign Affairs, the National Development and Reform Commission, the Ministry of Transport, the Ministry of Commerce, the Ministry of Culture and Tourism, and the General Administration of Customs, and reporting to the State Council for approval, the National Immigration Administration has decided to fully implement the visa-free entry policy for foreign tour groups at all cruise ports along China's coast.
■ The reporter learned from the National Development and Reform Commission on May 15 that from 24 o'clock on May 15, domestic gasoline and diesel were reduced by 235 yuan and 225 yuan per ton respectively.
Economics and Finance
■ On May 14, Pan Gongsheng, Governor of the People's Bank of China, attended the 11th International Monetary System High-level Meeting jointly organized by the International Monetary Fund and the Swiss National Bank in Zurich, Switzerland, with the theme of "Central Banks in the New Situation". Pan Gongsheng delivered a speech on China's monetary policy and the construction of a global financial safety net.
■ On May 15, the China Securities Regulatory Commission held the 2024 "5.15 National Investor Protection Publicity Day" in Beijing, with Wu Qing, Secretary of the Party Committee and Chairman of the China Securities Regulatory Commission, Liu Guixiang, Deputy Ministerial-level full-time member of the Adjudication Committee of the Supreme People's Court and second-level justice, and Fu Wanjun, member of the Party Committee and Deputy Director of the State Administration of Financial Supervision and Administration, attended the event and delivered speeches, and Fang Xinghai, member of the Party Committee and Vice Chairman of the China Securities Regulatory Commission, presided over the event. 【Details】
■ The People's Bank of China held promotion meetings in Fuzhou and Xiamen on May 13 to further improve the payment service level of the elderly and foreign personnel in China, and better meet the payment service needs of Taiwan compatriots and Taiwan enterprises. Zhang Qingsong, member of the party committee and vice governor of the People's Bank of China, Lin Ruiliang, vice governor of Fujian Province, and Zhuang Rongliang, vice mayor of Xiamen City, attended and spoke at the meeting.
■ The People's Bank of China announced on May 15 that in order to maintain reasonable and sufficient liquidity in the banking system, the People's Bank of China launched a 7-day reverse repurchase operation of 2 billion yuan and a medium-term lending facility (MLF) operation of 125 billion yuan on the same day, and the winning interest rates were 1.80% and 2.50%, respectively, the same as before.
■ On May 15, the China Securities Regulatory Commission (CSRC) issued the Administrative Provisions on Programmatic Trading in the Securities Market (for Trial Implementation) and the Guidelines for the Application of Regulatory Rules - Issuance No. 10.
■ On May 15, the China Securities Regulatory Commission (CSRC) released the enforcement situation for 2023 and clarified the focus of enforcement in 2024. 【Details】
■ Recently, the Shenzhen Regulatory Bureau announced a fine in which the investment director of a private equity firm used undisclosed information to converge to trade about 25.24 million yuan of stocks, and not only his illegal gains were confiscated, but also a fine of the same amount.
■ On the evening of May 14, Bank of Communications announced the resignation of Vice Chairman, Executive Director and President. According to the announcement, due to work adjustments, Liu Jun has submitted a written report to the board of directors of Bank of Communications, resigning from the bank's vice chairman, executive director, president, member of the board of directors' strategy committee (inclusive finance development committee), and chairman of the board of directors' social responsibility (ESG) and consumer rights protection committee, effective from May 14, 2024.
■ China Merchants Bank announced on May 14 that due to policy changes and business adjustments, the bank will adjust the smart notice deposit business. Starting from May 15, the bank will stop the smart notice deposit service and handle the business interest settlement.
■ According to the Chengdu Municipal Commission for Discipline Inspection and Supervision on May 14, Luo Zheng, member of the Party Committee and deputy general manager of Chengdu Jiaozi Financial Holding Group Co., Ltd., is suspected of serious violations of discipline and law, and is currently undergoing disciplinary review and supervision investigation by the Chengdu Municipal Commission for Discipline Inspection and Supervision.
■ On May 14, Minsheng Bank issued two announcements stating that it had received the approval of the State Administration of Financial Supervision and Administration on the same day, approving the qualifications of Zhang Juntong and Huang Hongri, vice presidents of the bank. According to the relevant regulations, Zhang Juntong and Huang Hongri have been appointed as vice presidents of the bank since the date of approval of their qualifications.
■ In response to the fact that the independent directors overserved and still received allowances, on May 15, Bank of Xi'an issued the "Rectification Report on the Administrative Supervision Measures of the Shaanxi Securities Regulatory Bureau", stating that Liao Zhisheng had submitted a formal resignation report to the company's board of directors on April 29, applying for resignation as an independent director of the company's sixth board of directors and relevant special committees of the board of directors. Previously, the Shaanxi Securities Regulatory Bureau issued the "Decision on Ordering Corrective Regulatory Measures against Bank of Xi'an Co., Ltd. and Liao Zhisheng", and the issuance of regulatory measures was related to the overdue service of the current independent directors of Bank of Xi'an.
Social hotspots
■ The Housing and Urban-Rural Development Bureau of Lin'an District, Hangzhou Municipality recently issued an announcement that the People's Government of Lin'an District decided to purchase a batch of commercial housing for public rental housing within the scope of Lin'an District.
■ On May 15, the China Coast Guard carried out regular rights protection and law enforcement activities in the waters off Scarborough Shoal in accordance with the law. On the same day, illegal Philippine vessels insisted on invading the waters under the jurisdiction of the mainland despite China's repeated dissuasions and warnings. The China Coast Guard said that the Philippine side's actions violated China's sovereignty and seriously violated international law and basic norms governing international relations. The China Coast Guard urges the Philippines to immediately stop its violations.
International dynamics
■ Late at night on May 14, Beijing time, Fed Chairman Jerome Powell said in a speech at an event that the Fed needs to remain patient and wait for more evidence that high interest rates are curbing inflation and inflation continues to cool, so it needs to keep interest rates high for a longer time. He stressed that the Fed's next move is unlikely to be a rate hike.
■ On the evening of May 15, Lawrence Wong was sworn in as the fourth Prime Minister of Singapore at the Presidential Palace of Singapore.
■ According to CCTV news, on May 15, local time, Japan's Tokyo Electric Power Company announced that the sixth round of discharge of nuclear-contaminated water from the Fukushima Daiichi Nuclear Power Plant will start on the 17th of this month and last until June 4, and about 7,800 tons of nuclear-contaminated water will be discharged.
Editor: Liu Nengjing E-mail: [email protected]
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