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Weekly Financial Summary 2023-03-27

Date: 2023-03-27
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Financial attention


Han Wenxiu, Deputy Director of the China Finance Office, said that the Chinese economy is a powerful propeller and stable anchor for the recovery and development of the world economy. Over the past 10 years, China's average contribution to world economic growth has exceeded 30%. In addition, there are currently no significant inflationary or deflationary pressures. Monetary policy has greater leeway, and China's economic and financial stability will provide a positive spillover effect for the volatile international financial market.




► People's Daily: In recent years, with the continuous improvement of digital infrastructure construction and the acceleration of commercial applications, the development of the artificial intelligence industry has entered the 'fast lane'. According to the latest data released by the China Academy of Information and Communications, the scale of China's artificial intelligence core industry will reach 508 billion yuan in 2022, an increase of 18% year-on-year.




► Huang Qifan: In the past decade, China's population advantage has increasingly been transformed into a market advantage of super large scale. Forty years ago, China's demographic dividend and demographic advantage were the comparative advantages of unlimited supply and low-cost labor. In the past decade or so, our per capita GDP has gradually caught up with and surpassed the world average, and China's demographic dividend has gradually manifested itself as an advantage of scale.




Macroeconomics




1. National Cancer Center: Currently, there are about 4.06 million new cancer cases and 2.41 million cancer deaths per year in China. The overall five-year survival rate for cancer in China is about 40.5%, which is nearly 10 percentage points higher than the 30.9% survival rate 10 years ago. At present, China has established a Chinese population cancer registration system covering 1.407 billion people to provide important data on tumor incidence rate, survival rate and mortality.




2. Zhang Wenhong: We are not far away from the time node of going out of COVID-19. Through this epidemic, we can realize that facing the challenges of uncertain events, only through communication and solidarity can we build a resilient global social system and have a bright future.




3. Hong Kong Tourism Development Board: The number of mainland tourists entering Hong Kong last week has returned to 45% before the epidemic, and the number of single day visitors to Hong Kong on weekends has reached 100000. The number of short distance passengers from Southeast Asia has recovered to 60% of the pre epidemic level, while the number of passengers from countries such as Japan and South Korea has recovered to 45%. It is expected that the next peak of visitors to Hong Kong will be the 'May Day' golden week, when the number of visitors to Hong Kong will reach 50% before the epidemic.




4. Medvedev: The number of Russian troops should become larger, and its size has been announced at least 1.5 million. Russian Defense Minister Sergei Shoigu previously stated that the total military strength of the Russian army should be expanded to 1.5 million and the number of contract soldiers should be increased to 695000.




5. CCTV News: According to CNN reports, an 'urban killer' asteroid that has reached Earth's orbit will pass by at close range later this week. According to NASA, this asteroid is about 200 meters in diameter and is classified as an 'urban killer' and can typically cause catastrophic damage to a large city or entire state.




Stock Market Inventory




1. Shenzhen Stock Exchange: The 'Intelligent Monitoring and Discovery Technology and Application Demonstration of Abnormal Behaviors in the Securities Market' project has entered the formal implementation stage. The project aims at the key issues of intelligent monitoring, identification, and early warning of abnormal trading behavior of investors in the securities market, and aims to research and explore new methods and technologies to improve the level of supervision technology and intelligence. In the next step, we will fully promote the implementation of the project, providing strong technical support for strengthening front-line supervision and preventing systemic financial risks.




2. Securities Daily: A few days ago, the theme week of the 'blue chip heavy equipment' performance briefing on the main board of the Shanghai Stock Exchange kicked off. The results of the performance briefing are commendable, and listed companies still need to make greater efforts to give full play to the 'touchstone' function of the performance briefing. Because this 'touchstone' can not only enable listed companies to showcase their performance to investors and the market, but also enable listed companies to proactively answer questions and respond to market concerns.




3. Economic Daily: Listed companies should strictly abide by the bottom line of compliance with laws and regulations. If there is a real need to change their audit institutions due to the company's business development, they should make early preparations and take precautions, truthfully explain the reasons for the change to investors, and promptly disclose information. The audit institutions should urge listed companies to operate in a standardized manner, truthfully disclose, and effectively guard their doors and gates.




4. Zhejiang Business Magazine: Ningbo Shanshan Co., Ltd. recently held its first extraordinary shareholders' meeting and board of directors in 2023, and elected Zheng Ju to replace his father, Zheng Yonggang, as the chairman of the 10th board of directors of the company. The widow of Zheng Yonggang appeared at the shareholders' meeting and said that the meeting was illegal and wrong. Relevant personnel from Shanshan Stock responded that there were no violations and errors alleged by relevant reports in this election, and it was legal and valid.








Industry observation




1. CCTV Finance: Some tire companies have stated that their current domestic and export orders are relatively sufficient, and their inventory is also at a relatively low level. According to the industry, the domestic tire market is currently in the repair period, and after the peak period of rapid replenishment after the holidays, the middle and lower reaches are currently in the stage of digesting inventory. In 2023, the recovery of logistics freight volume will accelerate the tire replacement cycle, and the continued development of new energy vehicles will also promote the growth of domestic tire matching market.




2. General Electric Power Planning and Design Institute: By the end of 2022, the installed capacity of new energy storage in China was approximately 8.7 million kilowatts, with a year-on-year increase of more than 110% in new installed capacity. The supporting role for China's energy transformation is beginning to emerge. It is expected that by the end of the '14th Five Year Plan', the scale of new energy storage in China is expected to exceed 50 million kilowatts.




3. Shanghai Securities News: A few days ago, the news that 'the world's first seawater desalination and concentrated brine lithium extraction cooperation project has settled in Qingdao' has become the big news in the lithium battery industry. According to the industry, only in terms of economic benefits, there is no advantage in extracting lithium from seawater. The industrial application of lithium extraction from seawater may not be as optimistic as expected. High cost and low efficiency are currently unavoidable issues in the seawater lithium extraction industry.




4. Wang Wei of the National Research Center: In 2022, the scale of China's digital economy will exceed 50 trillion yuan, accounting for over 40% of GDP. It will continue to maintain a high growth rate of 10% and become a key driving force for stable economic growth. Among them, the scale of China's digital industrialization has reached 7.5 trillion yuan, constantly promoting the emergence of new industries, new forms of business, and new models; The process of industrial digitization continues to accelerate, reaching a scale of 31.7 trillion yuan.




5. Deputy Director of the Raw Material Industry Department of the Ministry of Industry and Information Technology: This year, capacity replacement will be strictly implemented, and new capacity will be strictly prohibited. Further deepen the reform of mixed ownership, accelerate industry mergers and restructuring, and form a group of world leading enterprises in professional fields. At the same time, through mergers and restructuring, change the situation of small and fragmented steel industry in some regions.




6. The Personal Insurance Department of the China Banking and Insurance Regulatory Commission (CIRC): Recently, it has organized industry associations and multiple insurance companies to hold symposiums to thoroughly investigate the industry's debt cost and asset liability matching situation, and plans to make forward-looking adjustments based on changes in the economic cycle. Some companies suggest phased adjustments. For example, the estimated interest rate on the liability reserve for ordinary long-term annuities is currently 3.5% compounded annually, which can be reduced to 3% first, and then dynamically adjusted later.




7. Petrobras: Not intimidated by the world's energy transformation. Latin America's largest oil producer should continue to increase fossil fuel production in the coming decades. Brazil may be the last country in the world to produce oil.




important news




1. News: Intel co founder Gordon Moore has died at the age of 94. Gordon Moore was the proponent of 'Moore's Law'. In 1968, Gordon Moore and Robert Noyce founded Intel and became vice president of the company. In 1975, he became president and CEO.




2. Bank of America: It is cutting back on its wealth management, banking, and credit departments as higher interest rates continue to restrain Wall Street's business, forcing banks to conduct broader layoffs. According to people familiar with the matter, fewer than 200 employees have been transferred to other departments, while a few, including some credit officers, have been dismissed.




Insight Economics




1. BEIJING: The German transportation industry will hold a nationwide strike on March 27th. The strike, which will last 24 hours, covers railways, airports, ports, public transportation, and highways. A massive strike would paralyze Germany's transportation and public transport systems.




2. Japan's Ministry of General Affairs: The national consumer price index in February was 103.6, up 3.1% year-on-year. For the first time in 13 months, the increase narrowed, but food rose 7.8%, hitting a new high in nearly 46 years and 7 months. By category, fried chicken rose 11.7%, chocolate rose 9.4%, bean paste bread rose 9.0%, and carbonated beverages rose 17.1%.




Financial data




1. Shanghai Securities News: Since this year, the structural market has been significant, and affected by this, the fund performance differentiation is relatively obvious. In less than three months, the highest yield this year has exceeded 42%, and the lowest has lost more than 19%. However, funds with leading performance or bottom ranking are almost all mini funds. Industry insiders remind that extreme style funds often have large fluctuations in net worth, and investors should remain rational and not blindly pursue hot spots.



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