First of all, news

The CSRC held a news briefing, and there was no new progress in IPO restart; There is no specific timetable for the launch of QDII2; The expansion plan of the New Third Board will be released in time; The research and demonstration of individual stock options is under way; Asset securitization products of securities firms are under review; Special laws and regulations will be introduced to protect the rights and interests of investors; There are 7 1 brokers who have opened off-site accounts and135,000 securities accounts; Domestic Hong Kong, Macao and Taiwan residents have opened more than 29,800 A-share accounts; Strengthen the management of terminal customer information of securities and futures trading institutions.

Second, the external market.

Last Friday, US stocks opened lower and went higher. The Dow rose 0.02%, Nasdaq rose 0.22%, S&P rose 0.08%, and the stock markets of major European countries closed lower. New york crude oil futures fell 79 cents to close at $0/04.7 per barrel, a decrease of 0.8%; New york gold futures fell $7.3, or 0.6%, to close at $65,438+$03,265,438+$0.5 an ounce.

Iii. The National Audit Office conducts national government debt audit 1 1 shares or is implicated.

The National Audit Office initiated the national government debt audit. The industry said that local debt should be compressed but not broken to prevent a crisis.

The National Audit Office confirmed yesterday that the national government debt audit in 20 13 will be carried out in an all-round way. This part confirms a news circulating in Weibo last weekend. The news said: "the State Council sent an urgent telegram that afternoon to audit the national government debt. The Audit Commission suspended all projects to start training and will be stationed in various provinces and cities next week. "

According to the report of the National Audit Office, the total local government debt due in 20 13 years is at least as high as 1.2 trillion yuan, accounting for1.37%. According to the estimation of Everbright Securities [-3.90% fund research report], the local government financing instruments (LGFV) in China due in the second half of this year is about 654.38+02.7 billion yuan. And this is only the bond part, not counting the "big head" bank loans.

Fourth, urban investment bonds and trusts have expanded rapidly.

At present, in addition to bank credit, the liabilities of local financing platforms are mainly financed by issuing city investment bonds and trust products. And this part is the most worrying. According to the statistics of the Straight Flush [-4.27% Capital Research Report], as of yesterday, the scale of immature urban investment bonds was 2.93 trillion yuan.

However, the data shows that the issuance scale of urban investment bonds in June was only 53.3 billion yuan, a sharp drop of more than 40 billion yuan from the previous month, the lowest scale in the year. The industry expects that the regulatory authorities will suppress this year, and the overall capital environment is not as loose as last year. It is expected that the issuance of urban investment bonds will slow down this year. Northeast Securities [-2.89% capital research report] predicts that the net issuance scale of urban investment bonds in 20 13 may be more than 800 billion yuan.

On the other hand, since the beginning of this year, the enthusiasm of local financing platforms for trust financing has not diminished. Recently, the market rumors that the regulatory authorities have once again "stopped" political credit products have resurfaced. The person in charge of a large state-owned trust company in South China said that the relevant documents have not been received recently, but the window guidance of the CBRC on political credit products has been "always there". "If the trust company's political trust project balance reaches a certain level, it will not approve new projects. In contrast, political trust projects are mainly concentrated in some small trust companies. These companies have not done much in the early stage, so they can still be approved for new projects. "

China trustee association data show that by the end of the first quarter of this year, the scale of trust assets invested in basic industries reached 2. 1 1 trillion yuan, accounting for 25.78% from 2 1.85% in the same period last year. Among them, the direct political and trust cooperation business * * * 6548.1400 million yuan, accounting for 7.50% of the trust assets of the whole industry, with a year-on-year increase of 160.85% and an increase of 2.76 percentage points.