Under the continuous high pressure of supervision, the scale of structured deposits of Chinese banks dropped sharply in June. According to the credit revenue and expenditure data disclosed by the People's Bank of China, at the end of June, the total balance of structured deposits of Chinese banks nationwide was about 10 trillion yuan, which was significantly reduced by about 10 trillion yuan compared with the end of May, and the spread space was also significantly reduced. CICC's fixed income research team recently released a report saying that the pressure drop rate of structured deposits exceeded expectations, and it was not difficult to complete the established pressure drop target by the end of September. The team previously said that according to regulatory requirements, structured deposits may face greater pressure drop during the year, and the scale of pressure drop may reach one trillion yuan or even higher. (Shanghai Stock Exchange)
Cross-border financing opening accelerates cross-border asset transfer of Guangdong, Hong Kong and Macao banks.
Experts suggest building a global RMB financial asset allocation center.
A number of experts said at the "2020 International Monetary Forum" a few days ago that China's financial market showed strong vitality and resilience in the first half of the year, and foreign investors showed strong interest in RMB financial assets, so it is necessary to take more measures to build a global RMB financial asset allocation center. Xiao Gang, a member of the Chinese People's Political Consultative Conference and former chairman of the China Securities Regulatory Commission, suggested that to build a global financial asset allocation center for RMB, first, accelerate the reform of financial market factors; Second, actively promote the internationalization of RMB, promote the pricing of bulk commodities in RMB, and increase the use of currency swaps; Third, promote the RMB exchange rate reform and capital account convertibility in an orderly manner, expand the floating range of exchange rate in a timely manner, and improve the RMB exchange rate formation mechanism; The fourth is to strengthen the construction of regulatory capacity and guard against imported risks. (Crime scene investigation)
Listed companies promote the gradual release of domestic demand dividends from exports to domestic sales.
The GDP of more than half provinces and cities in the local economy returned to normal within half a year.
Promote strategic major mergers and acquisitions in many places, and the steel industry will start a new round of "de-capacity"
Xia Nong, a first-class inspector of the Industrial Development Department of the National Development and Reform Commission, recently revealed at the 2020 China Iron and Steel Development Forum that "zombie enterprises in the steel industry are basically cleared." A number of ineffective and inefficient production capacity gradually withdrew from the market, and the capacity utilization rate of the steel industry gradually returned to a reasonable range. However, many experts say that the pressure to prevent steel overcapacity will exist for a long time. In the next step, the steel industry will continue to ban the expansion of steel production capacity, reduce the proportion of capacity replacement, promote strategic major mergers and acquisitions, and start a new round of "de-capacity" from quantitative change to qualitative change. (Jing Shen)
Driven by the increasing demand for hedging and the most active contract conversion, gold futures hit a record high.
As the dollar plunged and global economic concerns boosted demand for safe haven, gold futures hit a record high, and the most active contracts were transformed into record high contracts, which also provided further impetus for the rise. The most active gold futures contract hit a record high of $0/935.438+00 per ounce. Although the final data was not released until last Friday's Asian trading session, last Thursday's 65438+February contract surpassed the August contract and became the largest opening contract. The 65438+February contract once hit 1927. 10 USD/oz last Thursday, which was higher than the historical high of 20 1 the most active contract 1 1923.70 USD. (Global Times)
Commonwealth Bank of Australia: If the Federal Reserve considers negative interest rates, gold prices are expected to maintain an upward trend above $2,000.
Based on the current driving factors, the price of gold may break through the $2,000 mark per ounce in the next few months, but it may need the help of the Federal Reserve to maintain the upward trend; We believe that if the price of gold continues to rebound above $2,000 per ounce, we need to see the Fed consider implementing negative interest rates; If the Fed does this, it will exert tremendous downward pressure on the real rate of return of the United States 10. (Sina USA)
The Bundesbank said that the economy may have bottomed out in April.
In its monthly report, the Bundesbank said: "Affected by the COVID-19 epidemic, the decline of economic output in Germany in the second quarter may be significantly greater than that in the first quarter. The lowest point of economic activity should have been reached in April. " Recent indicators show that economic performance is uneven. Compared with the previous downturn, the recovery of industrial production and exports is "moderate". Manufacturing companies said that the operating conditions in June were "still very bad". The weekly activity index of the Bundesbank "has obviously increased in recent weeks, but it is still obviously negative in mid-July". "The economy may continue to recover in the second half of the year. The latest economic stimulus package will also help. " (Reuters)
Singapore Airlines' losses hit by the epidemic may hit another record.
After the COVID-19 epidemic caused a sharp drop in the number of passengers, Singapore Airlines will once again suffer serious quarterly losses. Singapore Airlines was selected by Skytrax as one of the best airlines in the world. The airline warned this month that it expected a major operating loss in the first quarter. In the three months to March, the company suffered a record net loss of S $732 million (US$ 530 million), when it was hit by fuel hedging losses and a sudden drop in demand caused by the epidemic. This made the airline suffer an annual loss for the first time in its 48-year history. (Overseas Network)
The total market value of Korean real estate reached 2.6 times of GDP, a record high.
According to data released by the Bank of Korea on Sunday, the total market value of nominal real estate in Korea increased by 7.4% year-on-year in 20 19, reaching 5,056.7924 trillion won (about 29.5 trillion yuan), which is about 2.6% of last year's nominal GDP (19/6.219 trillion won). This is the first time that the total market value of nominal real estate in Korea has exceeded 5,000 trillion won since 1995. (Yonhap News Agency)
JPMorgan Chase: Vanke, Yao Ming Bio and Ali are the first choices for China stock to make profit forecast.
JPMorgan Chase published a research report saying that China's GDP performance in the second quarter may be better than market expectations, which means that it can bring a wave of profit forecasts to China stocks before the uncertainty and risks intensify. Tong Mo pointed out that after the performance period, the cyclical factors will be normalized in the second half of the year. We are optimistic about the changes in consumption patterns and the development of medical care, e-commerce retail and online games. The bank has given overweight ratings to health care, non-essential consumer goods, industrial and real estate stocks, and looks forward to policy support. Vanke, Alibaba, American stocks and Yao Ming Bio are the first choices. Take a neutral view on information technology, diversified finance, raw material industry, consumer goods and communication service industry; It is also suggested to reduce the holdings of energy, public utilities, banks and insurance stocks. (Bloomberg)
Ali responded to the lawsuit filed by former Indian employees: the policy is in line with local laws and the case is still under trial.
Alibaba responded to the lawsuit filed by former Indian employees, saying that UC has always been firmly committed to serving the Indian market and protecting the welfare of local employees, and its policies are in line with local laws. As the matter is still under trial, it is impossible to make further comments on this issue. Another person close to Alibaba revealed that Ma Yun had not received the summons. According to the report, an Indian employee who used to work for Alibaba UC browser sued that he was fired for opposing "censorship" and "false news" on the company's application. (Sina Technology)
Huawei's rotating chairman: the global 5G deployment has come to an end, and the next stage will focus on applications.
On July 27th, Guo Ping, the rotating chairman of Huawei, made an opening speech at the 2020*** Win the Future Global Online Summit, saying that the global deployment of 5G has come to an end, and the next stage will focus on developing industrial applications and releasing the 5G network dividend. "At present, there are more than 90 million 5G users worldwide and more than 700,000 5G base stations are deployed. It is estimated that by the end of the year, there will be more than 1.5 million base stations. The global 5G deployment has come to an end, and the next stage will focus on developing industry applications and releasing 5G dividends. " Guo Ping said that on July 3rd this year, the R 16 standard of 3GPP was officially frozen, which will further accelerate the application development of the 5G industry. (澎湃)
State Grid continues to divest its real estate business and intends to transfer all the shares of a real estate enterprise in Sichuan.
On July 27th, Beijing Equity Exchange disclosed in advance that Sichuan Keruide Industrial Group Co., Ltd., an indirect wholly-owned subsidiary of State Grid, intends to transfer 0/00% equity and related creditor's rights of Sichuan Jinsha Sunshine Real Estate Development Co., Ltd. ... The pre-disclosure will end on August 2nd1day. (China News Network)
Haitong Securities: Layout the next round of rising prices in advance
Credit Suisse's investment in Ant Group 1 billion dollars is valued at10.50 billion dollars, with an estimated profit of 40%.
According to reports, informed sources revealed that in the last round of financing of Ant Group 20 18, Credit Suisse Bank of Switzerland invested nearly 1 billion dollars in the form of equity investment, and the valuation of Ant Group was15 billion dollars. Now, if investors have a strong demand for the IPO subscription of Ant Group, Credit Suisse is expected to make a profit from this previously undisclosed investment. According to Bernstein's estimation, the valuation of Ant Group is expected to be $2 1000 billion, which means that it has increased by 40% compared with previous financing activities. According to informed sources, Credit Suisse has no plans to sell this part of the shares of Ant Group. Credit Suisse and Ant Group declined to comment. (Bloomberg)
China Petrochemical Company: The annual hydrogen production exceeds 3 million tons, and it has built the second largest transportation and energy infrastructure network in the world.
It was learned from the seminar on hydrogen energy development strategy held by China Petrochemical that at present, China Petrochemical produces more than 3 million tons of hydrogen every year, accounting for about 14% of the national hydrogen production. The company has rich experience in hydrogen production and utilization, established the second largest transportation energy infrastructure network in the world, and has more than 30,000 gas stations. At present, a number of demonstration stations for co-construction of oil and hydrogen have been built, which have natural advantages and practical operation experience in the layout of hydrogen refueling station network. Strengthening the cooperation with Air France in the field of hydrogen energy and accelerating the establishment of hydrogen energy companies have firm actions to build a hydrogen energy industry chain and economic ecosystem. (China Petrochemical News)