Premier Li Keqiang said that the debt ratio of Chinese central government is still relatively low, China can still put more effort on the implementation of proactive fiscal policy. In addition, China's savings rate is relatively high, there is also space for us to promote financial reform, revitalize the stock funds, and smooth the conduction mechanisms of finance on the real economy, so China’s policy "toolbox" is ready and able to deal with greater challenges.
National Bureau of Statistics of the People's Republic of China released financial data industrial enterprises, which showed that from January to May, the national industrial enterprises above the designated size realized a total profit increase of 6.4% year-on-year, the growth rate declined 0.1 percentage points than that from January to April. In May, industrial enterprises above the designated size realized a total profit increase of 3.7% year-on-year, the growth rate declined 0.5 percentage points than April. Overall, the profit increase of industrial enterprises declined slightly in May, but the profitability of industrial enterprises continued to show positive changes.
When talking about insurance funds placarding Vanke, Vice-Chairman Zhou Yanli of China Insurance Regulatory Commission (CIRC) said that, in general, the insurance funds placarding is for the needs of asset allocation, but the CIRC requirements for placards are, to make sure of information disclosure, to explain whereabouts of the funds and so on, it should get consensus social recognition and understanding, I think this is a normal capital market activity, in fact, there are many such cases in the West.
Ministry of Finance of the People's Republic of China released data which shows that, in May, the central government financing was 232.9 billion yuan. The central government debt balance of the first quarter was 10.7 trillion yuan. From January to May, the total revenue of state-owned enterprises was 17.15984 trillion yuan, a year-on-year decrease of 0.6%; the total profit of state-owned enterprises was 837.39 billion yuan, a year-on-year decrease of 9.6%.
ECONOMIC INFORMATION DAILY news, "quality revolution" has become this year's consumer policy keyword, consumption of services will be the focus of the major supports. In the aspects of promoting the quality of consumer goods, improving the consumption environment, supporting new types of consumption and guiding consumption abroad reflux, etc., the central and local authorities have been played a series of all-round and multi-angle policy "combination blows," the second half of this year will be a period with intensive pro-consumption policies touching down.
State Administration of Foreign Exchange published data of international trade in goods and services showing that in May, according to China’s international payment statistics, the earnings of China's international trade in goods and services was 1.2712 trillion yuan, the expenditure was 1.0822 trillion yuan, and the trade surplus was 189 billion yuan. Among them, the trade surplus of goods was 314 billion yuan and the trade deficit of services was 125 billion yuan.
GF Securities said that, in short term, if A-share market slumps or booms because of the "retreat Europe," it will just be an over-catharsis of investor sentiment. In the long run, the global stock market including the A-share stock market may show "Slow Bear" state. There will be "bear market rallies" during "Slow Bear", but one should wait with a "buy in short-wing when there’s a long-term rise" perspective.
On June 27th, THE PEOPLE’S BANK OF CHINA started carrying out a seven-day reverse repo operation of 270 billion yuan in the open market, the operation amount has reached a new high for the last three months, the bid rate remains at 2.25%. On that day, the amount of expired reverse repo was 170 billion yuan, achieving a net funding of 100 billion yuan. In addition, the amount of reverse repurchase to expire within this week is up to 660 billion yuan.
CHINA SECURITIES JOURNAL learned from the local Development and Reform Commission departments, "Yangtze River Economic Belt Development Plan Outline" was recently issued to 11 provinces and cities along the Yangtze River. Messages from all sides, the "Outline" for the Yangtze River Economic Belt has some new ideas, and sets up two strategic objectives for 2020 and 2030, and more attention is likely to be paid to the negative list system and ecological compensation.
Xinhua News Agency learned from China Aerospace Science and Technology Corporation that the deepened argument of Chinese heavy launch vehicle has completed, if the relevant work is progressing smoothly, it is expected to achieve its first flight within 15 years. Sinolink Securities believes that the three projects of the launch vehicle, satellite applications and space broadband Internet will be the focus of future development of China's aerospace industry, market size in the "Thirteenth Five-Year Plan" period may reach over 800 billion yuan.
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