Finance and Economics Knows Early : Xi Jinping Video Hosts the BRICS Leaders' Meeting: Upholding Justice, Opposing Hegemony, Upholding Fairness, and Opposing Bullying
2022-06-24: [Article Link]
Xi Jinping video hosted a meeting of leaders of the BRICS countries to defend justice, oppose hegemony, defend fairness and oppose bullying
The BRICS countries should support each other on issues related to each other’s core interests, practise genuine multilateralism, uphold justice, oppose hegemony, uphold fairness, oppose bullying, preserve unity, and oppose division. (Caixin)
Lee, for the first time in 2021, the share of individual investor transactions fell below 70 per cent.
At the end of May this year, the ratio of market value of investors in national professional institutions and foreign equity holdings reached 22.8 per cent, an increase of 6.9 percentage points over 2016. In 2021, the share of individual investor transactions fell for the first time to below 70 per cent, and concepts of value investment, long-term investment, and rational investment were gradually being developed. (Caixin)
News: Chen Yu Lu: Controlling the number and size of structural monetary policy instruments at a consensual level, far away: Exploring the construction of corporate governance arrangements consistent with the actual “small corporate” arrangements of small banks
Trust industry recorded a 28 per cent decline in revenue and a 31 per cent decline in profit in the first quarter of 2022
There has been a significant decline in business performance, linked to capital market volatility on the one hand, and a decline in real estate operations with higher rates of remuneration, as a result of the restructuring of trust operations, and an increase in portfolio investments with lower rates of remuneration, on the other. (Caixin)
Joint IDRC/CVM Symposium on Expanding Investment and Promotion of Employment by Listed Companies
On the afternoon of 22 June, the National Development Reform Commission and the CVM jointly convened a symposium on investment expansion and employment promotion for listed companies, at which five listed companies presented their work on investment expansion and employment promotion and made suggestions and recommendations. It was noted that the current complex, challenging and uncertain economic development environment in the country, the active expansion of effective investment, which is the key to a stable economy, and the promotion of investment in high-technology industries, where listed companies are representatives and pioneers in the field of high-technology industries, are the main thrusts for scaling up effective investment. The meeting emphasized the need for the listed companies to further develop their role as model leaders, to accelerate the progress of fund-raising projects, to implement social responsibility for employment, to identify investment directions, to expand investment effectiveness, to remove barriers to investment, to promote innovative entrepreneurship, to actively stabilize employment and, through active efforts, to achieve greater results and contribute to steady employment, steady investment and steady growth. Guangzhou developed 152 implementation programmes to implement the policy package of the State Council to stabilize the economy
The Guangzhou Network of Municipal Officials issued the " Implementation Programme for the Implementation of the State Council's Package of Policy Measures to Secure the Economy ". The Programme details, on a case-by-case basis, 33 specific policies of the Department of State in the six areas indicated for deployment and 131 specific policies of the provinces in the six areas of the Department of State, in the context of practical improvements in Guangzhou, further developing 152 detailed policy measures in the areas of fiscal policy, monetary and financial policy, sound investment for consumption policy, food and energy security policy, supply chain stabilization policy and basic livelihood policy. The Programme focuses on the economic development goals of the second quarter, focusing on policy measures that contribute to steady growth in the short term and high-quality development in the long term on the basis of specific policy measures proposed by the various sectors, and explicitly requiring that the accompanying implementing regulations be completed within one week of the issuance of the document. In 2022, the civil service expanded to nearly 10,000 students.
For the third year in a row, the number of civil servants in the civil service was increased. For example, on the basis of the national examination, the overall number of candidates in the national examination has increased.
There's a lot of talk about promoting car consumption.
The removal of second-hand car restrictions, once on the ground, will speed up the circulation of second-hand cars and stimulate consumer buy-outs, while increasing the stimulus of the policy of halving the purchase tax. (Caixin)
Audits found that 206 poverty alleviation projects were inactive or abandoned and that employment support measures had been implemented.
The audit of policies and funds related to the bridging phase between poverty alleviation and rural revitalization showed that there was no risk of return to poverty on a scale, but there were also some areas where poverty prevention was not well established, some industrial employment support projects were ineffective, and 206 poverty alleviation projects were inactive or abandoned in 41 districts. "White List" updates for coupons. Three new ones for simplified regulation.
The “White List” has been updated six times, and securities companies that have been included in the “White List” may remove some of the regulatory advice requirements, while simplifying the workflow and introducing ex-post monitoring checks on regulatory opinions that are indeed necessary. (Caixin)
Liaoning Dandong: Restoring production order throughout the city
The Office of the Defence and Control Command in Covic-19 Pandemic, Dandong City, issued a circular on the orderly restoration of production order throughout the city. 1. The entire territory of Dandong continues to be managed as a preventive area, and it is not necessary to leave the country. In exceptional cases, 48 hours of negative proof of nucleic acid testing is required for persons leaving Denmark, and approval is required from the unit and from the community. 2. In addition to residents of closed and controlled areas, residents may move in an orderly manner throughout the city on the basis of 48 hours of negative proof of nucleic acid testing. There are 110 new positive cases in Macao, and we'll start a universal nucleic acid test.
The new outbreak involves the Omicron BA.5.1 virus strain, which is not an endemic strain in the interior, and the source of the infection is unknown. (Caixin)
Related topic: Covic-19 full record of immunization (real-time update)
Guidance issued by the State Department on strengthening digital government building
Guidance was issued by the Department of State on strengthening digital government-building. Main objectives: By 2025, with better design and better coordination of mechanisms at the top of the Government in line with the modernization of the Government's governance capacity, the framework of the digital system of government, such as digital functioning, security guarantees, rules of the system, data resources, platform support, the digitalization of the Government, a significant increase in the level of intelligence, the scientificization of government decision-making, the precision of social governance, the efficiency of public services, and the important role of digital government-building in the service of the Party and the country's major strategies, the promotion of high-quality economic and social development and the building of a service-oriented government that is satisfactory to the people. By 2035, the framework of the digital system of government, compatible with the modernization of the national system of governance and its capacity for governance, will be more mature and complete, with a coherent, agile, efficient, intelligent, transparent and equitable digital government largely in place, providing strong support for the basic modernization of socialism. The Chinese Coal Industry Association and the Chinese Coal Marketing Association issued an initiative to do a good job of securing the price of electricity and coal for peaking summers.
The China Coal Industry Association and the China Coal Marketing Association issued an initiative to do their best to meet the peak of the summer supply of electricity and coal, which states that every effort is made to guarantee the safe and stable supply of electricity and coal. Coal enterprises will continue to pool their available resources, actively tap into the potential for increased production, accelerate the release of high-quality coal production, increase coal production and supply, effectively increase market supply, implement contingency insurance plans, enhance coal supply security capacity, and make every effort to guarantee a safe and stable supply of coal in order to meet peaks in summer. Deputy Director Wang Chun-young of the Foreign Exchange Bureau: Foreign investors have invested more than $200 billion in Chinese securities.
On 23 June, the Central Communications Department of the Communist Party of China held a press conference on the theme “The Decade of China” to present the financial sector reform and development since the Party's eighteenth anniversary. At the meeting, Wang Chun Ying, Deputy Director-General of the Foreign Exchange Authority and press spokesman, noted that since the Party's eighteenth birthday, capital projects have been steadily moving forward, achieving a high level of convertibility. The attractiveness of the renminbi assets has increased significantly, with foreign investors investing more than $20 billion in Chinese securities, and the weight of the renminbi in the IMF special drawing rights (SDR) currency basket has increased further. Four departments have published papers to strengthen the work of pharmaceutical professionals in the new era.
In recent days, the National Institute of Chinese Medicine, the Ministry of Education, the Ministry of Human Resources and Social Security and the National Commission on Health and Hygiene have jointly issued the Opinions on Strengthening the Work of Pharmaceutical Talents in the New Era. It was suggested that by 2025, at least 60 per cent of the total number of physicians in public secondary health hospitals above the secondary level, all community health service centres and township health hospitals will be equipped with a central health clinic with a medical doctor; at least one doctor in a community health service station who will be able to provide Chinese medicine; and at least 80 per cent of village health units will be equipped with at least one medical officer who will be able to provide Chinese medicine. It is also clear that efforts should be made to promote the study of Chinese medicine in Western medicine, and that institutions such as general hospitals, specialized hospitals, infectious diseases hospitals and maternal and child health care should support the training of Western medicine doctors in Chinese medicine and gradually move towards “one-size-fits-all”. Implementation of a special programme for Chinese medicine in Western medicine, aimed at developing a pool of high-level Chinese and Western medicine professionals over a period of 5 to 10 years. (Overview of news)
Shanghai: Establishment of a “financing mechanism” for small and medium-sized enterprises in Shanghai
A number of departments, such as the Shanghai Silver Insurance Regulatory Authority, have issued circulars establishing a mechanism to “reduce finance” for small and medium-sized enterprises in Shanghai. Financial institutions in the banking sector are encouraged to participate actively in alleviating the risk by providing “reduce finance” to eligible MSMEs on a risk-controlled basis, with a strong financial service base and wind control capacity. In principle, MSMEs do not have more than 10 million Yuan, and MSMEs may be properly liberalized and in principle not more than 50 million Yuan. More credit lending support is encouraged, mainly through liquidity loans and individual operating loans. (Caixin line)
In the Nind era, CTP3.0 americium batteries will be marketed in 2023.
In the Ningd era, CTP3.0 americium batteries were released with a new global integration, with a volume utilization of 72 per cent and an energy density of 255Wh/kg, leading to the continuation of 1,000 km of the entire vehicle. With high core cooling technology, americium batteries can support 5 minutes of rapid heat start-up and 10 minutes of fast charge. Under the same chemical system, the equivalent battery package size, the capacity of the americium battery package was increased by 13% compared to the 4680 system, resulting in a total increase in continued navigation, fast charging, safety, longevity, efficiency, and low-temperature performance. The americium batteries will be on the market in 2023. (Caixin line 1)
In the Ningde era, 45 billion won will rise, won by offshore investment agencies.
Foreign investment agencies generally offer higher prices, with South East England Asset Management Ltd. offering up to 462 Yuan/Unit. (Caixin)
NIO's test car crashed and two people were killed.
As a result of the accident, two digital class testers were killed and fewer ground parking spaces were located in the compound. (Caixin)
Half a year's appointment at the drop-off office to reveal the time of release of the stove.
Plumbing creatures will take the lead on 15 July, and HMG will do so on 20 July, and the farming industry will do so on 21 July. (Caixin first line)
Contemporary dues to U.S.A.A.'s end of domestic broadcasting.
ST has performed poorly in recent years, and its subsidiary New Britain Sports has so far failed to pay a minimum guarantee of Euro45 million for the 2021/2022 season. (Caixin)
Cochin Pharmaceuticals: Application for registration of the oral drug SHEN26 capsule clinical trial for Covid-19 small molecule
The application for registration for the clinical trial of the SHEN26 capsule, the oral drug for Covid-19 small molecules, has been accepted. Preclinical studies show that SHEN26 has demonstrated significant resistance to SARSCoV-2 both inside and outside the body, inhibitive activity against the Covid-19 virus and its mutagenic strains, and antiviral activity against both the original strain and the known important mutant strains. Maotai, Guizhou, stated that the annual profit distribution programme for 2021 found a gold dividend of 21.675 Yuan per share.
The profit distribution in 2021 was based on a total equity of 1,256 million shares of the company prior to the implementation of the programme, with a gold dividend of 21.675 Yuan (including taxes) per share and a gold dividend of $27.228 billion. Equity registration dates are 29 June, division (interest) 30 June and cash dividends 30 June. (Caixin line)
Moody's rating adjustment will not have a negative impact on debt servicing and financing capacity.
In response to Moody's rating adjustment, Bézier Park stated that the company's current business and financial position were stable, with sufficient cash flows, and that the current adjustment would not have a negative impact on its solvency and financing capacity. Prior to that, Moody adjusted the issuer rating of Baa3 Biri Park to the company family rating of Ba1 (CFR). [International Finance]
The elimination of all customs duties on China would be beneficial to China, to the United States and to the world.
At a regular press conference held by the Department of Commerce on 23 June, the media asked that the United States side had indicated that it was considering a decision on the liberalization of United States customs duties against China. How will China respond once it has been able to do so, and will China adjust its tariffs accordingly? According to the Minister of Commerce’s press spokesman, Xing Xing Xing, China has always maintained that it is in China’s interest to eliminate all customs duties imposed on China, to the United States, and to the world. In the current high-inflation situation, consumers and businesses will benefit from the early lifting of tariffs on China and China. The US and China should work together to create a climate and conditions for economic and trade cooperation and to maintain stability in the global industrial chain supply chain for the benefit of both peoples. Why does Buffett continue to increase his share of oil?
Oil prices are closely linked to the United States anti-inflation narrative, and the increase in Buffett’s stance is undoubtedly a weighty expression of market prospects.
Powell reiterated his determination to control inflation, even if it could trigger a recession.
Powell stated that given the conflict in Russia-Ukraine, high prices and supply chain disruptions, economic “soft landings” were challenging and depended to some extent on factors beyond control. (Caixin)
Germany will make a statement on energy issues or initiate the “alarm” phase of the gas contingency plan.
A statement on “Energy and supply security” will be issued on Thursday by the German Minister of Economy, Harback, and it is now expected that the Government will launch the second phase of the gas contingency plan. The implementation of the second phase, the “warfare” phase, may mean amending the law to allow energy companies to transfer costs to households and businesses. This may also include the introduction of more coal-fired power plants to minimize gas consumption. The Australian lithium miner, Pilbara, pre-completed the sixth sale of lithium concentrate, with an offer of approximately $7017 per ton.
The Australian lithium miner, Pirbara, issued an announcement on 23 June to complete the sixth auction of the 5,000 t of the lithium concentrate in advance, with an offer of approximately US$ 7017/ton at SC6.0 CIF China prices after proportional adjustment of the lithium content and freight costs. This lithium concentrate is expected to be delivered by the end of July, and the company is expected to hold its next auction in the second week of July 2022. Pilbara's first sale of 5,000 tons of lithium concentrate in 2022 was sold at a price of $5650/t on 27 April. (Caixin line)
Focus on recession risks and Fed policy.
It rose by 194.23 points, or 0.64 per cent, or 30677.36 points; by 179.11 points, or 1.62 per cent, or 11232.19 points; and by 35.84 points, or 0.95 per cent, or 3795.73 points, or by the index 500.
The U.S. WTI fell by 1.8% on Thursday, the lowest collection since May 10th.
Middle-grade crude oil futures from West Texas, delivered by the New York Commodity Exchange in August, fell by 1.81 per cent to $104.27 per barrel.
New York's gold futures fell by 0.5% for the fourth day in a row.
The price of gold futures delivered by the New York Commodity Exchange in August fell by $8.60, or 0.5 per cent, to $1829.80 per ounce.
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Fifth continent medical requisition code 301234.
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UK June Gfk Consumer Confidence Index
Annual rate of CPI excluding food and energy in Japan in May (%)
Annual rate of Japan's national CPI in May (%)
Japan's national core CPI annual rate in May (%)
Japan's national core - core CPI annual rate in May (%)
Monthly retail sales rate after the May season in the United Kingdom (%)
Annual retail sales rate after the May season in the United Kingdom (%)
UK annual rate of core retail sales after the May season (%)
United Kingdom Core Retail Marketing Monthly Rate (%) after Seasonal Transition in May
Germany's June IFO Business Panorama Index
CFIB Business Barometer, Canada, June (0624-0629)
Revised monthly rate for United States construction permits in May (%)
Revised annualized total number of United States construction permits in May (millions of households)
Consumer Confidence Index (CPI), University of Michigan, United States of America, June
Total annualized sales of new houses after the May shift in the United States (million households)
Central bank policy and inflation were discussed in 2022 by the FOMC Commission, Chairman of the Federal Reserve of St. Louis, Brad.
Total United States-wide drilling for the week as at 24 June (ports)
Total North American drilling for the week ended 24 June (ports)
Total number of mixed drilling wells in the United States as at 24 June (ports)
Total oil drilling in the United States for the current week as at 24 June (ports)
The United States Commodity Futures Trading Commission (CFTC) publishes weekly warehouse reports.
In 2024, FOMC, President of the Federal Reserve of San Francisco, Daley addressed the Shadow Open Market Congress.