China's GDP exceeded 100 trillion yuan for the first time! The National Bureau of Statistics released data on the 18th. In 2020, my country's gross domestic product (GDP) exceeded the 100 trillion yuan mark for the first time. The annual GDP in 2020 is 100 million yuan. Calculated at comparable prices, it increased by 2.3% over the previous year. . Looking at the quarters, the first quarter decreased by 6.8% year-on-year, the second quarter increased by 3.2%, the third quarter increased by 4.9%, and the fourth quarter increased by 6.5%.
Comment: China’s economy is highly resilient. Against the background of the global epidemic, GDP growth reached 2.3%, mainly due to strong exports and excellent manufacturing performance. At the same time, GDP exceeding 100 trillion yuan is a milestone achievement, which has significantly narrowed the gap in economic size between China and the United States.
The fundraising scale of a single new fund exceeded 230 billion yuan, setting a historical record for public fund subscription. According to the Securities Times, the fundraising scale of E Fund’s Competitive Advantage Enterprise Fund issued on Monday has exceeded 237 billion yuan, far exceeding the 15 billion yuan fundraising limit. The final allotment ratio is expected to be about 6.3%, breaking the record of 135.7 billion yuan set by Penghua Originality Selection in 2020, becoming the product with the largest initial subscription amount in the history of public funds.
Comment: The current capital market landscape is undergoing profound changes, and investors' enthusiasm for borrowing funds to enter the market is unprecedentedly high. This is mainly due to two reasons. On the one hand, the structural market trend of A-shares in the past two years has enhanced the profit effect of funds; on the other hand, a series of factors such as initial redemption rate breakthroughs, falling interest rates, and falling bond fund yields have triggered investors to purchase stock funds. enthusiasm.
Relevant persons from the China Securities Regulatory Commission: Check the entrance and resolutely prevent excessive financing. Ni Gaiqin, a second-level inspector of the Corporate Bond Supervision Department of the China Securities Regulatory Commission, revealed that in 2021, the China Securities Regulatory Commission will focus on four aspects of work focusing on the construction of the exchange bond market. The first is to properly control entrances and improve the quality and efficiency of serving the real economy. At the same time, we will optimize the bond financing structure and resolutely prevent enterprises from over-financing. The second is to gather regulatory forces and do a good job in risk prevention and control. The third is to focus on strengthening supervision and promoting the formation of a good ecology. The fourth is to further improve the system and rules to ensure the high-quality development of the bond market.
Comment: As an important carrier to increase the proportion of direct financing, the bond market must ensure its entry in order to truly improve its ability to serve the real economy. While doing a good job in risk prevention and control, we will continue to support the financing development of high-quality enterprises and further improve systems and rules. , Promote the formation of a good ecology.
Southbound funds hit a record high of 23 billion! Hundreds of billions of funds have been invested in leading companies such as Tencent, Meituan, and SMIC. On January 18, the net inflow of funds going south was 23 billion yuan, a record high! Since January 2021, the net inflow of southbound funds has reached HK$158.7 billion, accounting for a quarter of the whole year of 2020. As of now, southbound funds have been net buying for the 19th consecutive trading day, and the net buying amount has reached HK$158.7 billion. It has exceeded HK$10 billion for 11 consecutive trading days. Ping An Securities believes that Hong Kong stocks are currently entering the first stage of compensatory gains in value stocks. In the first two weeks of 2021, the net inflow of southbound funds into Hong Kong stocks was HK$135.7 billion, accounting for 20% of the whole year of 2020. It is worth noting that southbound capital inflows are very concentrated among companies. The top five companies include Tencent, China Mobile, CNOOC, SMIC and Meituan-Dianping, with a total amount of up to HK$100 billion.
Comment: Southbound capital flows have been extremely violent recently. Net southbound capital inflows reached HK$158.7 billion in January, accounting for a quarter of the entire year of 2020. This is mainly due to the increasing valuation of leading stocks in the A-share industry. After that, investors gradually turned more attention to Hong Kong stocks with depressed global valuations.
New arrival reminder
New share subscription: Titan Shares (), Fumiao Technology ()
New stock listings: China Southern Power Grid Energy (), Hexing Shares ()
Winning payment: None
Global Market
External market highlights: On Monday, Eastern Time, the U.S. stock market was closed for one day for Martin Luther King Jr. Day. On Monday European time, major European stock indexes were mixed, with British stocks recording two consecutive losses. International gold prices closed slightly higher, regaining the $1,830 mark and closing up 0.38%. International oil prices fell, with US oil prices falling by more than 0.5%.
macro news
Bureau of Statistics: In 2020, the added value of industries above designated size increased by 2.8% compared with 2019; the total retail sales of consumer goods was 100 million yuan, a decrease of 3.9%; the national fixed asset investment (excluding rural households) was 100 million yuan, an increase of 2.9%. Among them, private fixed asset investment was 100 million yuan, an increase of 1.0%.
The National Bureau of Statistics pointed out that the economic impact of the recent spread of the epidemic in some places is controllable. At present, production and life in most areas are operating normally, and the economy is generally stable. In 2021, our country's economy has the foundation and conditions to continue to recover steadily. Although the pressure of "preventing external importation and domestic rebound" of epidemic prevention and control is still great, the fundamentals of long-term economic improvement have not changed and are emerging. This year, fiscal, monetary, employment, investment, consumption, regional, industrial and other policies will be implemented more accurately and effectively to keep the economy operating within a reasonable range.
The Trump administration revoked the export licenses of Intel and other companies to Huawei. The Ministry of Foreign Affairs responded. The Trump administration has asked Intel and other companies to stop supplying Huawei and has rejected dozens of other requests to supply the company. The Ministry of Foreign Affairs responded that the US approach was an act of naked bullying and violated the principles of market economy and fair competition that it has always advocated. We urge the US to immediately revoke the relevant wrong decision and stop its wrongful actions of unreasonably suppressing foreign companies!
Guo Shuqing, Chairman of the China Banking and Insurance Regulatory Commission: There was a saying more than 20 years ago that China is not a market economy and needs a period of transformation. In recent years, accusations against “state monopoly capitalism” have increased. The main basis is that China has a strong state-owned economic sector and national industrial policies distort market relations. This is obviously a huge misunderstanding. The following five points need to be made clear. At present, China's private economy accounts for 60% of the entire economy; China's industrial policies are generally consistent with market-oriented reforms; State-owned enterprises generally accept negative government subsidies; The relationship between banks and state-owned enterprises is completely financially independent; The strong competitiveness of Chinese products is not stemming from damage to labor rights.
The State-owned Assets Supervision and Administration Commission emphasized that in 2021, we must focus on the reform of state-owned enterprises for three years and unswervingly promote the implementation of various reform tasks. Data show that as of the end of the "13th Five-Year Plan", the total assets and owners' equity of enterprises under the supervision of the national state-owned assets system were 218.3 trillion yuan and 71.9 trillion yuan respectively, an increase of 82.1%. Compared with the end of the "12th Five-Year Plan", they increased by 80.3% respectively. and 80.3%. During the "Thirteenth Five-Year Plan" period, the average annual growth rates of operating income and total profits of enterprises supervised by the state-owned assets system were 7.4% and 10.7% respectively.
State Administration for Market Regulation: The meeting called for strengthening anti-monopoly and anti-unfair competition, and effectively improving the ability to maintain fair competition in the market; strengthening comprehensive management of food safety, strengthening full supervision of drug safety, and improving the ability to investigate and manage special equipment safety hazards; strengthening intellectual property protection, Coordinate the management before, during and after the event, and do a solid job in protecting consumer rights and interests.
The central bank's open market launched a 2 billion yuan 7-day reverse repurchase operation on Monday. On that day, 5 billion yuan of reverse repurchase expired, with a net withdrawal of 3 billion yuan.
Stock Market Focus
A-shares opened lower and moved higher on Monday, the GEM index rose sharply, theme stocks rebounded, and liquor stocks pulled back. The Shanghai Composite Index closed up 0.84% at 3596.22 points, the Shenzhen Component Index rose 1.58%, and the ChiNext Index rose 1.92%. The turnover of the two cities fell below one trillion for the first time in nearly 11 trading days.
The actual net buying of northbound funds on Monday was 1.637 billion yuan, marking the ninth consecutive day of net buying. Banking and insurance stocks were in favor. China Merchants Bank once again topped the list with net purchases of 901 million yuan. Ping An and Industrial Bank made net purchases of over 100 million yuan. Wuliangye had the highest net sales, at 1.202 billion yuan.
The Hang Seng Index closed up 1.01% for three consecutive days, with a turnover of HK$224.4 billion; the Hang Seng Technology Index rose 3.88%, consumer semiconductors rose strongly, Qiu Titanium Technology rose nearly 20%, Kingdee International and Huahong Semiconductor both rose nearly 14%, Meituan , SMIC rose nearly 7%.
The net purchase amount of Southbound Connect funds exceeded HK$20 billion, the highest since the launch of Southbound Connect. Since the opening of trading, southbound funds have had net purchases of more than HK$10 billion on 18 trading days, 11 of which occurred at the beginning of this year. At the same time, there are endless voices that are optimistic about Hong Kong stocks. Some private equity investors have made it clear that "sell A shares and buy H shares." As leading A-shares become more and more expensive, the "core assets" of cost-effective Hong Kong stocks are gradually being rediscovered by mainland institutional investors.
Huang Yanming, president of Guotai Junan Research Institute, said that it will be difficult to break up the group in the short term, and there will be no switching between large and small stocks in market style. Coupled with the marginal improvement in liquidity expectations, the wind will only blow to blue-chip stocks. Liquor is the lowest-risk sector in the entire market.
Is the semiconductor chip sector a new direction for "teaming"? Fund manager: The market will continue to rotate! On January 18, driven by the news of "core shortage", the A-share semiconductor chip industry surged. Will the semiconductor chip industry become a new direction for organizations to "join forces"? In this regard, many public fund managers told the China Securities Index that under the current market conditions, the strong performance of the chip industry is not so much a new goal for institutions to "join forces", but rather a reflection of the rotation of market opportunities. "Semiconductor chips appear in the right place at the right time." One fund manager said. (China Securities Journal)
A notice from Guangzhou Automobile Group "exploded" the concept of graphene, and A-share related concept stocks continued to rise. Whether graphene batteries are a gimmick or a revolution has triggered fierce debate in the market. Guangzhou Automobile Group's AH shares "parted ways", with A shares closing up 5.43% and H shares falling 8.1%. In the face of doubts, GAC Group responded that graphene-based super fast-charging batteries and long-life silicon anode batteries are two different battery technologies. Many listed companies such as Funeng Technology, Huakong SEG, and Baichuan Co., Ltd. have also responded to graphene-related research and layout.
Weill Shares: Net profit is expected to increase by 426%-534% year-on-year in 2020, lower than expected. Vail issued a performance announcement, predicting that its net profit in 2020 will increase by 1.984 billion yuan to 2.484 billion yuan compared with the same period last year, a year-on-year increase of 426.17%-533.55%. The company's net profit in the same period last year was 466 million yuan! During the reporting period, driven by market demand and the continuous launch of new products, the company's profitability achieved relatively high growth.
Tianqi Lithium received a letter of concern: explaining whether it is prudent to disclose and terminate the short-term private placement plan. Tianqi Lithium once again received a letter of concern, and the Shenzhen Stock Exchange asked the company to explain whether it would be prudent to disclose the private placement plan in the short term, and then terminate the matter. In addition, it needs to be stated whether the company has any overdue debt to date. If so, please list the funding provider, maturity date, amount, whether it can be rolled over, etc.
China Evergrande: On the evening of January 18, it issued an announcement that it plans to use its own funds to repay the principal and interest of HK$18.352 billion convertible bonds due in 2023 in advance. According to statistics, since September last year, Evergrande has used its own funds to repay debts in advance four times, with a total debt repayment of more than HK$47.7 billion. Some people believe that Evergrande's early repayment of debt again at the beginning of the new year reflects the company's financial strength and determination to reduce debt, laying the foundation for achieving the goal of "reducing interest-bearing liabilities by 150 billion this year."
Yibin Paper: 9-board Yibin Paper announced that the price of the company's food packaging paper has increased by 5% since January 2021, and the purchase price of wood pulp, the main raw material, has increased by 16% during the same period. The company expects that there is limited room for food packaging paper price increases, and there is a risk that raw materials will continue to rise. After the plastic ban takes effect in 2021, the price increase of food packaging paper products will be small, which will have limited impact on the company's operations.
Chifeng Gold: Net profit is expected to increase by approximately 575 million yuan in 2020 compared with the same period last year, a year-on-year increase of approximately 305.83%. The company plans to repurchase shares of 300 million to 700 million yuan for employee stock ownership plans or equity incentive plans, with the repurchase price ranging from 15 yuan/share to 22 yuan/share.
Dragon and Tiger List: On January 18, institutions participated in a total of 31 stocks on the Dragon and Tiger List, 13 of which were net purchased by institutions. Jiugui Liquor bought the most, reaching 233 million yuan. Another 18 shares were net sold by institutions, of which Antarctic E-commerce sold the most, reaching 66.06 million yuan.
Financing balances in the two cities: As of January 15, the financing balance of the Shanghai Stock Exchange was 801.617 billion yuan, a decrease of 1.132 billion yuan from the previous trading day; the financing balance of the Shenzhen Stock Exchange was 734.929 billion yuan, a decrease of 1.00 billion yuan from the previous trading day; the total amount of the two cities million, a decrease of 2.132 billion yuan from the previous trading day.
Industry observation
In 2020, China's main real estate indicators showed strong resilience, with development investment exceeding 14 trillion yuan for the first time, and sales bucking the trend and setting a new high. Data from the National Bureau of Statistics show that my country’s real estate development investment in 2020 was 100 million yuan, a year-on-year increase of 7.0%. Among them, residential investment was 100 million yuan, an increase of 7.6%. The sales of commercial housing nationwide were 100 million yuan, an increase of 8.7%; the funds in place for real estate development enterprises were 100 million yuan, an increase of 8.1%.
2020 is a "big year" for property market regulation, and senior officials have made many statements on the property market. Among them, the prudent management policy of real estate finance represented by the "three red lines" and the centralized management system of real estate loans in the banking industry are considered to be disruptive measures, and their impact will gradually appear in the future. (21st century)
People's Daily reporter: The digital renminbi will first conduct internal closed pilot tests in Shenzhen, Suzhou, Hebei Xiongan New Area, Chengdu, and future Winter Olympics scenarios to test theoretical reliability, system stability, functional availability, process convenience, and scenario applicability. and risk controllability. Zhou Liping of the Academy of Social Sciences said that the current pilot of digital renminbi is just a routine work in the research and development process and does not mean that digital renminbi will be officially launched. There is no timetable for when the digital yuan will be officially launched.
"Securities Daily" reporter: Affected by rising costs, the tire industry has begun to increase prices since July 2020. After entering 2021, tire price increases will continue. With the arrival of the vehicle replacement cycle, the automotive industry is expected to continue its recovery trend in the next two to three years, which will also have a catalytic effect on the increase in tire prices.
Prices have been rising for several months and coal prices still show no signs of abating. The latest comprehensive transaction price index released by the China (Taiyuan) Coal Trading Center on January 18 was 141.47 points, a month-on-month increase of 0.68%. It has increased for 11 consecutive periods since November 2, 2020. Over the past two days, more than a hundred trucks have been queuing up to load coal at coal mines in Shaanxi and Inner Mongolia, with the queue stretching for several kilometers. (Shanghai Securities News)
international News
U.S. Treasury Secretary nominee Yellen: Without more economic aid, there could be a longer and more painful recession.
From January 25th to 29th local time, the World Economic Forum will host the 2021 "Davos Agenda" dialogue, aiming to bring together global leaders to "seize the critical year and rebuild trust among all parties." The five-day conference will focus on three major themes: COVID-19, climate change and cooperation. On the 18th local time, the World Economic Forum held a press conference to briefly introduce the important guests and themes of the meeting.
Murata Manufacturing Fukui Factory is the world's largest MLCC factory and its largest factory in Japan. It has been suspended due to heavy snow recently. The plant's MLCC production capacity accounts for 25%. The production suspension may put global MLCC supply into a tight situation.
The Baltic Dry index fell 0.8% to 1,740 points as weakness in large capesize rates offset gains in the Panama and Supramax indexes.
Tesla announced that the first batch of domestically produced Model Y has officially begun delivery in Shanghai. This is the second car produced and delivered to Chinese users after Tesla's Shanghai Gigafactory. Due to the popularity of pre-orders, orders are currently scheduled to be shipped in the second quarter.
More exciting information is available here. Click to enter the China Galaxy Securities APP - Galaxy Information at 7:40 every morning to get the latest "Galaxy Headlines" in a timely manner.
标签： #Stocks #Investment
评论列表