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The central bank's housing loan policy "three consecutive issuances"; CSRC responds to rumors about random inspection of local bond business......

author:China Business Daily

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1. Housing prices in 70 cities in April: The prices of new houses in 6 cities rose month-on-month, with Shanghai leading the way

On May 17, the National Bureau of Statistics released the statistical data on the change in the sales price of commercial housing in 70 large and medium-sized cities in April 2024. The data shows that in April, among the 70 large and medium-sized cities, the prices of new homes in 6 cities rose month-on-month, with Shanghai rising the most. According to Wang Zhonghua, chief statistician of the Urban Department of the National Bureau of Statistics, in April, the real estate market continued to adjust, and among the 70 large and medium-sized cities, the month-on-month decline in the sales price of commercial housing in all tiers of cities expanded. Specifically, in April, the sales price of newly built commercial residential buildings in first-tier cities fell by 0.6% month-on-month, an increase of 0.5 percentage points from the previous month. Among them, Beijing, Guangzhou and Shenzhen fell by 0.7%, 1.3% and 1.0% respectively, and Shanghai rose by 0.3%. The sales prices of newly built commercial residential buildings in second- and third-tier cities decreased by 0.5% and 0.6% month-on-month respectively, with the decline rate both increasing by 0.2 percentage points from the previous month.

2. The filming location of "My Altay" earned 400 million yuan in 10 days

Recently, "My Altay" has become popular, and the filming locations of Burjin County and Haba River County in Altay Prefecture, Xinjiang have attracted tourists from many places across the country to check in. According to statistics, since May 7, Burjin County has received a total of 445,500 tourists, a year-on-year increase of 68.04%; The comprehensive tourism income was 402 million yuan, a year-on-year increase of 64.15%. (CCTV Finance)

3. The central bank's housing loan policy "three consecutive issuances"

On May 17, the People's Bank of China issued the Notice of the People's Bank of China on Reducing the Interest Rate of Personal Housing Provident Fund Loans, clarifying that from May 18, 2024, the interest rate of personal housing provident fund loans will be reduced by 0.25 percentage points, the interest rate of the first set of personal housing provident fund loans below 5 years (including 5 years) and more than 5 years will be adjusted to 2.35% and 2.85% respectively, and the interest rate of the second set of personal housing provident fund loans below 5 years (including 5 years) and more than 5 years will be adjusted to not less than 2.775% respectively and 3.325%. On the same day, the People's Bank of China issued the Notice on Adjusting the Interest Rate Policy for Commercial Personal Housing Loans, announcing the abolition of the lower limit of the interest rate policy for commercial personal housing loans for the first and second houses at the national level; The Notice on Adjusting the Minimum Down Payment Ratio for Personal Housing Loans was issued, and the minimum down payment ratio for commercial personal housing loans for the first house was adjusted to no less than 15% for households that take out loans to purchase commercial housing, and the minimum down payment ratio for commercial personal housing loans for second houses was adjusted to no less than 25%.

4. A number of real estate stocks have a daily limit

On May 17, A-shares opened in the afternoon, and the real estate sector rose again. As of 13:42, the real estate sector rose more than 2% to lead the two cities, in the related stocks, I love my home, airport shares, urban investment holdings, World Union Bank daily limit, special services, Tiandiyuan, urban construction development, Binjiang Group, Rongan Real Estate, Debi Group, Zhongtian Services, etc. have followed up. As of 13:43, Jingrui Holdings rose by more than 90%, and stocks such as Guorui Health, Evergrande Property, Huijing Holdings, Territory Holdings, and Jianye Real Estate also rose sharply. On the afternoon of the 17th, the central bank issued three notices in a row to reduce the interest rate of personal housing provident fund loans, adjust the interest rate of commercial personal housing loans, and adjust the minimum down payment ratio of personal housing loans. (China News Network)

5. The China Securities Regulatory Commission responded to rumors about the sampling of local bond business

On May 17, in response to rumors in the market about the sampling of local bond business, the relevant person of the China Securities Regulatory Commission responded to the request for verification, saying that "the information is not true". (CNR)

6. The Lianyungang ghost scale incident robbed the mobile phone staff and was dismissed

The Lianyungang Haizhou District Joint Investigation Team issued a notice on May 17, saying that on May 16, a video posted by netizens showed that when shopping at a market in Haizhou District, a merchant was found to be short of two pounds, and the staff of the market organizer snatched his mobile phone. The district immediately set up a joint investigation team to carry out the investigation. It was preliminarily ascertained that the merchant involved Xu had two behaviors. The market supervision department has now filed a case for investigation into the illegal acts of the merchants involved and the market organizer in accordance with the law, and the public security organ has taken the case into investigation of Cao, a staff member of the market organizer, for snatching a mobile phone and other behaviors. At present, the market organizer has cleaned up the merchants involved and dismissed the staff who snatched the mobile phone. (Modern Express)

Enterprise

1. Operators start the commercial promotion of 5G cross-network roaming

On May 17, at the 2024 World Telecommunication and Information Society Day Conference, China Telecom, China Mobile, China Unicom, and China Radio and Television jointly announced the launch of 5G cross-network roaming commercial promotion. 5G cross-network roaming means that when the operator does not have 5G network coverage, users can access the 5G network of other operators and continue to use 5G services. It is of great significance to reduce signal blind spots, improve user experience, and accelerate 5G network coverage, especially in remote and rural areas. It is understood that in May last year, 5G cross-network roaming was the first to be trial-used in Xinjiang. Now that this model has entered the stage of commercial promotion, the relevant provinces will formulate specific promotion plans in the future. (China Business Daily reporter Jiao Likun)

2. Muyuan shares responded to the Shenzhen Stock Exchange's questions

On May 17, Muyuan Co., Ltd. announced the key points of the 2023 online performance briefing. Muyuan shares said that with the gradual emergence of the effect of pig capacity, the relationship between supply and demand in the pig market in the second quarter of this year has a trend of further improvement, and it is expected that industry prices will continue to pick up in the coming period, and the pig price level in 2024 will be better than last year. In response to the Shenzhen Stock Exchange's questions about its cost, Muyuan said that the company's annual average complete cost of pig breeding in 2023 will be about 15 yuan/kg, which is significantly lower than 15.7 yuan/kg in 2022, and the actual cost of pig raising has decreased by about 0.9 yuan/kg after excluding the increase in raw material prices. At present, the company is actively organizing the reply to the letter of inquiry, and the reply will be completed within the specified time. (China Business Daily reporter Ma Jia)

3. Dongyi Risheng was exposed to wage arrears and suspension

Dongyi Risheng, the "first share of home improvement", has fallen into a storm of rights protection, and problems such as breach of contract, arrears of supplier payments, and arrears of wages have been exposed one after another...... For a time, the topic of Dongyi Risheng "running away" and the closure of directly operated stores spread on the Internet. During the period of fermentation of public opinion, the headquarters and senior management of Dongyi Risheng did not publicly respond to the matter. Until May 16, Dongyi Risheng held the 2023 performance briefing as scheduled, and in less than two hours of the meeting, the problems encountered by the owners of Dongyi Risheng such as work stoppage and company closure and running away were raised many times. However, Chen Hui, chairman and general manager of Dongyi Risheng, said that the rumors of the closure of direct-operated stores in major cities are not true, and said that it is normal for the company to adjust and optimize the stores according to the operation of each store, and the relevant business has also been arranged for special docking processing. These explanations have not been agreed by everyone, and public opinion is still fermenting further. At the same time, a number of product managers, consumers, and employees of Dongyi Risheng (including former employees) are ready to defend their rights through legal means. (Interface News)

4. BYD issued a description of the fire situation in the exhibition hall

According to BYD Auto's official WeChat news, BYD issued a statement on the fire in the Minhou exhibition hall in Fuzhou: "On May 16, a fire broke out in our sales exhibition hall in Minhou County, Fuzhou City, and no casualties were caused after emergency fire fighting. Judging from the relevant video, in the initial stage of the fire, the open flame was located on the roof of the second floor, and there was no open flame in the glass hall of the exhibition car on the first floor. At the same time, through the retrieval and viewing of the background data, there is no abnormal condition in the battery of the vehicle in the exhibition hall, and the possibility of vehicle damage is also ruled out. In addition, it was understood from the fire department that "combustible substance" does not refer to the "source of ignition", but belongs to two different concepts. We are deeply concerned about this matter and will actively cooperate with the relevant departments in further investigation. (National Business Daily)

5. JD.com's revenue in the first quarter was 260 billion yuan

Jingdong Group released its financial report for the first quarter of 2024, with revenue and net profit both exceeding expectations, of which operating income reached 260 billion yuan, a year-on-year increase of 7.0%; Non-GAAP net profit reached 8.9 billion yuan, a year-on-year increase of 17.2%; Double-digit growth in quarterly active users. (CBN)

6. Alibaba's U.S. stocks rose more than 6%

Alibaba's U.S. stock rose more than 6.5%. According to the U.S. Securities and Exchange Commission (SEC), a number of top investment institutions have increased their positions in Alibaba, including Appaloosa, managed by American billionaire investor and hedge fund legend David Tepper, and its holdings in Alibaba increased to 11.25 million shares this quarter, with a market value of about $814 million. H&H International Investment LLC, an investment account managed by Duan Yongping, increased its stake in Alibaba by 886,000 shares. Michael Burry, the prototype of the movie "The Big Short", surged nearly 67% in the first quarter to increase his stake in Alibaba, which is now its second-largest heavy stock. Goldman Sachs and Bank of America have raised their target prices on Alibaba. (CBN)