[Key Focus]
The State Council issued the "Regulations on Promoting the Development of Individual Industrial and Commercial Households"
People's Bank of China , Foreign Exchange Bureau : Strengthen departmental cooperation and maintain the healthy development of the stock market, bond market and real estate market
E-cigarettes are included in the scope of consumption tax collection
New British Prime Minister Sunak Form a new cabinet, and ministers such as finance will remain in office
[Domestic News]
•The State Council issued the "Regulations on Promoting the Development of Individual Industrial and Commercial Households" to support and guide the healthy development of the individual economy. The relevant departments will study and formulate policies and measures in tax and fee support, entrepreneurship support, vocational skills training, social security, financial services, registration, rights protection, etc. within their respective responsibilities, and do a good job in promoting the development of individual industrial and commercial households.
•On October 24, the Party Committee of the People's Bank of China and the Party Group of the State Administration of Foreign Exchange held an enlarged meeting to earnestly convey and study the spirit of the 20th National Congress of the Party and the First Plenary Session of the 20th Central Committee of the Party. The meeting required that the People's Bank of China and the State Administration of Foreign Exchange should continue to maintain a reasonable growth in the total monetary and credit volume, increase support for key areas such as scientific and technological innovation, rural revitalization, regional coordinated development, and green development, and stabilize the macro-economic market. Deepen exchange rate marketization reform, enhance the flexibility of RMB exchange rate , and maintain the basic stability of the RMB exchange rate at a reasonable equilibrium level . Implement a long-term mechanism for financial services to small and micro enterprises and private enterprises to dare to lend, be willing to lend, and be able to lend, and enhance the vitality of micro entities. Strengthen departmental cooperation and maintain the healthy development of the stock market, bond market and real estate market . Promote high-level two-way opening of the financial market and support the sustained prosperity and development of Hong Kong International Financial Center .
•Data from the Ministry of Finance shows that from 1 to September, the national general public budget revenue was 15315.1 billion , which increased by 4.1% after deducting the tax refund factor, and decreased by 6.6% based on natural caliber. From 21 to September, the national general public budget expenditure was 19038.9 billion , an increase of 6.2% over the same period last year. Stamp duty revenue in the first three quarters was 341.1 billion yuan, down 2.1% from the same period last year.
•Ministry of Finance, General Administration of Customs , and the State Administration of Taxation announced that will include e-cigarettes in the scope of consumption tax collection, and add an e-cigarette sub-item under the tobacco tax. E-cigarettes are subject to a price-adjustment rate calculation method. The tax rate for the production (import) stage is 36%, and the tax rate for the wholesale stage is 11%.
• China Banking and Insurance Regulatory Commission disclosed that agricultural insurance provides risk protection for farmers from 0.9 trillion yuan in 2012 to 4.7 trillion yuan in 2021, with an average annual growth rate of 20.2% in the past decade.
• Ministry of Agriculture and Rural Affairs monitoring showed that from October 17 to October 23, the average purchase price of pigs designated slaughtering enterprises in large-scale nationwide increased by 3.4% month-on-month and 85.1% year-on-year; the average ex-factory price of white striped meat increased by 3.6% month-on-month and 75.9% year-on-year.
•China Association of Automobile Manufacturers stated that with the rapid recovery of the automobile industry chain and supply chain, the capacity utilization rate of the automobile manufacturing industry reached 75.7% in the third quarter, a month-on-month rebound of 6.6 percentage points, and the added value changed from a decrease of 7.6% in the second quarter to a significant increase of 25.4%, which has a significant driving effect on the industrial economy.
•Lian Yangmin, general manager and deputy secretary of the Party Committee of China Eastern Airlines, said that the first C919 aircraft will be delivered to China Eastern Airlines in December this year.
[International News]
•New British Prime Minister Sunak formed a new cabinet on the 25th, and ministers in important positions such as finance, defense and diplomacy remained at . Sunak said in his speech that the UK is facing a "huge economic crisis" and the focus of the new government is to stabilize the economy and restore confidence.
•The S&P /Kase-Shiler House Price Index released by S&P on the 25th showed that the national housing prices in the United States rose 13% year-on-year in August, a year-on-year increase of 15.6% last month, narrowing by 2.6 percentage points from the previous month. is the largest contraction since the indicator was launched in 1987, which means that the increase in US housing prices is slowing down at a record rate.
•U.S. API crude oil inventories increased by 4.52 million barrels in the week ending October 21, and expected to increase by 200,000 barrels, compared with the previous value of 1.268 million barrels.
•The US Consultative Chamber of Commerce Consumer Confidence Index in October recorded 102.5, with an expected 106.5, and the previous value of 108.
•Data released by the Iver Economic Research Institute on the 25th showed that after seasonal adjustments, Germany's October business prosperity index fell from 84.4 points last month to 84.3 points.
•A survey report recently released by the Italian Federation of Small and Medium Enterprises shows that as inflation intensifies and energy prices soar, nearly 70% of Italians plan to reduce shopping expenses by the end of the year. The main reasons for reducing expenditure are rising prices (38%), the increase in public service costs such as electricity and gas fees (24%), the deterioration of economic conditions (12%), and uncertainty about the future (11%).
•The Australian government announced the 2022-2023 fiscal year government budget on the 25th. It is expected that will reach a peak of 7.75% in this quarter under the influence of factors such as rising energy prices and recent floods in Australia.
•The latest data from the World Steel Association shows that in September 2022, the world's crude steel production was 151.7 million tons, an increase of 3.7% year-on-year. Among them, China's crude steel production in September was 87 million tons, an increase of 17.6% year-on-year.
[At a glance of domestic and foreign markets]
[Announcement of Listed Companies]
[Economic Data and Dynamics (Beijing Time)]
Editor: Wang Xiaowei
Statement: Xinhua Finance is a national financial information platform for Xinhua News Agency. Under no circumstances shall the information published on this platform constitute investment advice.
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