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Weekly Financial Summary 2024-09-29

Date: 2024-09-29
Views: 1

Financial attention

Macroeconomics

1. Yu Yongding from the Chinese Academy of Social Sciences: Consumption needs to be stimulated. However, considering the actual situation in China, geopolitical factors, and the fact that China's economic growth rate has not been high in recent years, with income growth declining and asset values shrinking, consumer confidence is insufficient and consumption is relatively difficult to start. At this point, in order to accelerate economic recovery, the first step in policy action is to consider increasing infrastructure investment.

2. Bank of China Securities Guan Tao: The current appreciation of the RMB has a market basis and is a market behavior. The recent appreciation of the Chinese yuan has been affected by the expected economic recovery boosted by Chinese policies and the weakening of the US dollar caused by the Federal Reserve's interest rate cuts. It is expected that the RMB exchange rate will shift from unilateral pressure in the first half of the year to a two-way fluctuation state.

3. Xinhua News Agency: As of the end of August, the total scale of employment for poverty-stricken people in China has reached 32.953 million, exceeding the annual target of 2.761 million, providing strong support for consolidating and expanding the achievements of poverty alleviation.

4. CCTV News: From January to August, the national railway has sent a total of 2.59 billion tons of goods, a year-on-year increase of 0.7%. Among them, 337 million tons of goods were sent in August, a year-on-year increase of 4.8%, setting a new historical high in monthly freight volume, with an average daily loading of over 181000 vehicles.

5. Xinhua News Agency: Hezbollah has issued a statement confirming the death of Hezbollah leader Nasrallah. Hezbollah in Lebanon stated in a statement that it will continue to fight against Israel.


Stock market inventory

1. First Financial News: On September 27th, there was an abnormality in the trading of Shanghai stocks, and the confirmation of transactions was slow, resulting in some orders being executed after hours. Several industry insiders have stated that it will not affect the opening point of the index for the next trading day.

2. Shanghai Stock Exchange: It is scheduled to organize testing of platform related businesses such as bidding and comprehensive industries on September 29th. Invite all market participants to participate in the test, mainly to verify the accuracy of the relevant technical platform business and technical adjustments.

3. Securities firms in China, including Guotou Securities, Guangfa Securities, and Guohai Securities, announced on the afternoon and evening of September 27th that they will temporarily close the next day commission function from September 27th. The specific time when the next day commission function will be activated will be notified separately.

4. CITIC Securities: Mid Autumn Festival and National Day are expected to see stable performance in the payment end of the alcohol industry, while the sales end is expected to decline. Looking ahead to 24H2-25H1, liquor companies may consider slowing down their financial statements to achieve more sustainable industry development. Considering the continuous implementation of macroeconomic policies, it is recommended to layout two main lines. Policy stimulus mainly focuses on targets with slow payment progress and insufficient dealer confidence; Fundamentals improved, with the overall demand for Baijiu improving.


Wealth Focus

1. China Securities News: On September 27, treasury bond futures closed down across the board, with the 30-year main contract down 2.56% and the 10-year main contract down 0.96%. Affected by the volatility of the bond market, many bond funds have experienced significant corrections in recent days, especially some medium - and long-term pure bond products, which have fallen by more than 3% in just three days.

2. Securities Times: Since the beginning of this year, more than 20 banks have successively raised the minimum deposit amount for gold, including some banks that have raised the minimum investment threshold twice this year.


Industry Observation

1. New Beijing News: Currently, the Xinfadi market has sufficient supply of various agricultural products and a wide variety of varieties. The daily supply of fruits and vegetables can reach 38000 tons, which can fully meet the needs of consumers. Vegetable prices have shown a significant year-on-year increase due to insufficient supply from the production area.

2. CCTV Finance: Recently, the supply of Korean cabbage has been tight and prices have risen. The shortage of Chinese cabbage has led to a decrease in the production of finished kimchi. Recently, not only have some supermarket kimchi shelves been sold out, but also more than 50 kimchi products in online stores are out of stock at the same time.

3. Xinhua News Agency: The 3rd Spacesuit Technology Forum was held in Chongqing on September 28th. At the opening ceremony, the China Manned Space Engineering Office launched a naming campaign for lunar suits to the public and unveiled the appearance of the Chinese lunar suit for the first time.

4. Development and Reform Commission: In August, five nuclear power projects approved by the State Council introduced private capital, and the proportion of private enterprise participation increased to 10% for the first time.

5. Xinhua News Agency: In 2023, the number of newly installed industrial robots in China will reach 276300, accounting for 51% of the global new installations; The total number of industrial robots is nearly 1.8 million, ranking first in the world.

6. Xinhua News Agency: According to Nanjing University, Professor Zhu Jia and Academician Chen Jun from the Chinese Academy of Sciences have successfully extracted high-purity lithium salts from salt lake brine in an efficient and environmentally friendly manner by mimicking the transpiration process of salt soil plants. This is expected to help promote the green and high-quality development of China's high-altitude salt lake lithium industry.

7. Shanghai Composite News: As of the end of 2023, the total scale of global computing infrastructure reached 910EFLOPS, a year-on-year increase of 40%. In the global ranking of computing power scale, China and the United States rank in the top two. As of the end of June, the total scale of computing power in China reached 246EFLOPS, of which the year-on-year growth rate of intelligent computing exceeded 65%.


Financial data

1. Securities China: In 2023, China will add one new insurance asset management company, bringing the total number of domestic insurance asset management companies to 34. As of the end of 2023, 34 insurance asset management companies managed a total of 30.11 trillion yuan in funds, a year-on-year increase of 22.82%. Among them, 9 insurance asset management institutions manage assets with a scale of over 900 billion yuan.


Young people are paying attention: Who says young people don't love old hotels? It's not that five-star luxury hotels are unaffordable, but rather that traditional "state hotels" offer better value for money. Purchase a five-star luxury hotel for three to four hundred yuan to enjoy a vacation. Young people are heating up a group of 'state hotels'. This year's National Day holiday is the peak period for booking state hotels, with some users even booking 170 days in advance. Among users who book "state hotels" on the platform, those born after 2000 account for nearly 20%. State owned hotels, as the beginning of China's hotel industry, have similar reception institutions in various provinces. However, time is like a knife, and many old state owned hotels have reached the brink of survival. It is debatable whether the short-term pursuit of young people can completely change the predicament of old state-owned hotels.


Young people are consuming: Looking around the office, there are always several tables with large bottles of sugar free tea weighing around 1L. You can often see 900mL of oriental leaves and aliens in the gym. Just three or four years ago, in more formal occasions, taking a 1L bottle of Kangshifu would be ridiculed by people. Now it has become 'three pieces are face, four pieces are life'. After calculation, the unit price of large packaging will be much cheaper than that of small packaging. From August 2023 to July 2024, the sales proportion of large-sized products has increased from around 20% to approximately 35%.


Young people are saving money: Their travel habits have also undergone significant changes. For them, whether it's traveling or other expenses, the biggest goal is to save money and spend more. If you want to go abroad, the machine wine that accounts for the largest cost must also find the one with the highest cost-effectiveness. As a result, low-cost airlines have become the preferred choice for more and more young tourists traveling abroad, and various strategy posts that teach people how to properly exploit the "wool" of low-cost airlines have also become the new traffic "password" for social platforms. But this does not in any way affect budget airlines becoming the most profitable airlines, whether it is Spring Airlines, which is known as the most profitable airline in China, or foreign airlines such as Scoot and AirAsia, their passenger load factor and revenue performance are also impressive.


Young people are in a period of "light health preservation": as the temperature gradually cools down in autumn, it is an important time to regulate the body. Many young people have also started a "fancy health preservation" mode, such as soaking goji berries in a thermos, soaking feet before bedtime, getting up early to go for moxibustion, practicing yoga... If middle-aged and elderly people face physical decline and choose passive health preservation, young people's health preservation is an active action aimed at health pain points. Nowadays, traditional Chinese tea drinks are very popular among young people. Low burden tea drinks such as cassia seed, Poria cocos, ginseng, chrysanthemum, etc. have become new companions for tea drinks, and the most popular among young people is the late night water filled with whole ginseng. The biggest characteristic of young people's enthusiasm for "light health preservation" is to "take advantage of every opportunity" and cultivate some health habits to enhance their sense of happiness.


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