Central Economic Work Conference Recommended the Eight Character Policy
December 19th to 21st, the Central Economic Work Conference was held in Beijing. The meeting pointed out that the main contradiction in my country's economic operation is still supply-side structural. We must adhere to supply-side structural reform as the main line, adopt more reform methods, and use more market-oriented and legal means to work hard on the eight words "consolidation, enhancement, improvement, and smoothness". The
meeting proposed that positive fiscal policies should be strengthened to improve efficiency, implement larger-scale tax and fee reductions, and significantly increase the scale of local government special bonds; prudent monetary policy should be moderately loose and tight, maintain a reasonable level of liquidity, improve the monetary policy transmission mechanism, increase the proportion of direct financing, and solve the problem of difficulty and high cost of financing for private enterprises and small and micro enterprises. (Xinhua News Agency)
｜Comments｜ Yesterday, before the meeting content was officially announced, Jin Wenhui issued a statement, directly denied rumors such as "the Central Economic Work Conference decided not to reduce taxes and fees." As expected, "larger-scale tax and fee reductions" came soon. Coupled with the monetary policy of maintaining abundant liquidity, these have made many Chinese companies in the trough reassure a lot.
In addition, the central government has not slowed down in the pace of economic system reform. It also emphasized that "if the market can adjust itself, let the market adjust, and if the enterprise can do it, let the enterprise do it." This has undoubtedly far-reaching impact on the capital market.
There are signs of loosening of the property market in many places across the country
December 21st news, it was learned from a person close to the Guangzhou Municipal Housing and Urban-Rural Development Commission that Guangzhou has changed its one-size-fits-all price limit policy to adjust the price limit based on the floating price of surrounding real estate projects, so the price limit of some real estate projects may increase. In addition, Guangzhou has relaxed the sales policy of commercial and service properties and allowed commercial and service properties to be sold to individuals.
It is reported that as the fourth quarter, more and more cities have shown signs of "loosening" in the real estate market. According to incomplete statistics, at least more than 10 places across the country have relaxed property market regulation, including the cancellation of sales restrictions/purchase restrictions/price restrictions, and lowering mortgage interest rates. (Comprehensive China Securities Journal)
｜Comments｜ After Shandong Heze , it was also rumored that the real estate market regulation in Guangzhou has been loosened. In fact, the situation in Heze and Guangzhou is not difficult to understand, because we must adhere to the red line of "housing speculation cannot be maintained", and we must also implement specific regulatory measures "in accordance with the city". In the current environment, there are contradictions for some cities, and it is difficult to take into account both.
In addition, at the just-concluded Central Economic Work Conference, the expression of the real estate field has changed from "differentiated regulation" to "classified guidance", and it also emphasizes consolidating the main responsibility of urban governments. That is to say, more initiatives for real estate market regulation are in the hands of local governments, and more cities may introduce new policies similar to Heze.
Kweichow Moutai topped the top 2018 Most valuable Chinese brand
On December 21, the "2018 Hurun Brand List" was released. Among the top 200 on the list, non-state-owned brands account for 60% and state-owned brands account for 40%. The threshold for being on the list is 3 billion yuan, and the threshold for being on the list is 11 billion yuan, both of which are the same as last year.
Among them, Kweichow Moutai topped the list with a brand value of 270 billion yuan, and is the first real economy brand to win the championship in ten years; in the past two years, Taobao fell to the top, ranking second with 255 billion yuan; Tencent ranked third in the country with 245 billion yuan; Tmall jumped from tenth to fifth with 190 billion yuan. (Sina Finance)
｜Comments｜ If you look at it objectively, the reason why Moutai has become the most valuable Chinese brand this year is not because of how popular it is, but because brands such as Taobao and Tencent have fallen too badly. Looking around, the column of rise and fall "more than falls."
data also shows that the total value of the top 200 brands on the list this year has dropped by 13% compared with last year. This is mainly affected by the stock market. Whether it is A shares , listed companies in Hong Kong stocks, or Chinese stocks listed in the United States, most of them are falling this year. Behind the stock market, what is actually reflected is the difficulties that arise in the macro economy.
Germany approved Qualcomm permanent ban on iPhone
December 21, Qualcomm announced that the Munich District Court in Germany ruled that Apple infringed Qualcomm's smart phone energy-saving intellectual property rights and approved Qualcomm's request to implement a permanent ban, ordering Apple to stop selling, promising and importing infringing iPhones in the German market.
This ban covers all iPhone models with infringement functions and applies to Apple itself and its EU entities. Currently, Apple's request to the court to suspend the injunction has been rejected. The court also ruled that Apple would need to make monetary compensation, and the specific amount would be determined later. (Sina Technology)
｜Comments｜ Nowadays, Qualcomm has only one purpose in suing Apple around the world, which is to bring Apple to the negotiating table, and then ask, "Apple, are you going to cooperate with me? If you don't cooperate, that's fine, please pay me your patent fee!"
At present, judicial institutions in China and Germany have successively made judgments on patent cases, and they are all banning the sale of related infringement iPhones. The situation is quite unfavorable to Apple. Apple's most troublesome approach is to use money to solve the problem, but there is a more profound problem behind this. If even Apple admits defeat, then Qualcomm's monopoly position in the chip field will be really terrifying. Do other mobile phone manufacturers still bargain in front of Qualcomm?
The game industry is expected to end the cold winter
December 21, at the 2018 China Game Industry Annual Conference held in Hainan, Feng Shixin, deputy director of the Publicity Bureau of the Central Committee of the Communist Party of China, introduced that the first batch of games have been reviewed and the version number issuance is being promptly issued. Affected by this, the stocks of many listed game companies rose sharply, and Tencent, the Hong Kong stock market, also rose 4.51%.
However, Feng Shixin also said that due to the large stock, digestion takes time and the industry needs to be patient. The report shows that the actual sales revenue of the Chinese game market reached 214.44 billion yuan, a year-on-year increase of 5.3%, accounting for about 23.6% of the global game market. (Sina Technology)
｜Comments｜ For the game industry, since the supervision stopped the approval of game version number in March this year, the entire industry has entered a "cold winter mode". This is also reflected in the data, with the actual sales growth rate of 5.3%, the lowest level in a decade.
At present, although the regulator has clearly stated that the approval will be restarted, it is certain that the opening released at the beginning will definitely not be too big, and the review of games is also very strict. Therefore, this news is not good for all companies. The specific review rules disclosed in the subsequent are the key points that major game companies need to carefully digest and implement.
Alibaba teamed up to launch embedded domestic operating system chip
December 21, at the Alibaba Group Internet of Things Ecosystem Partner Conference, 23 chip and module manufacturers including Qualcomm, MediaTek , Realtek announced that they will launch embedded AliOS Things chip module products, and will be sold online on Tmall.
At the meeting, some chip module manufacturers participated in the meeting displayed products they cooperated with Alibaba. All the products have been printed with the words "Powered by AliOS Things". After embedded in AliOS Things, terminal devices using these chip module products will have convenient cloud access capabilities. (The Paper)
｜Comments｜ Since the beginning of this year, Alibaba has continued to increase its investment in the chip field. It not only acquired Zhongtianwei, but also established Pingtouge Semiconductor Company, and has a number of chips in the R&D stage. However, in the Internet of Things chip market, various RTOS operating systems are currently popular, while Alibaba's domestic system AliOS Things has a small market share. This is also why Alibaba has joined hands with 23 companies to launch its own embedded system, which is to open up the market through cooperation. Of course, the development of the semiconductor industry is not just built up by money. Even Alibaba still has a long way to go.
Dong'e Ejiao price increase 15 times in eight years
December 21, Dong'e Ejiao issued an announcement stating that the ex-factory price of the company's key product Dong'e Ejiao has been raised by 6%.This price increase is limited to donkey-hide gelatin blocks, excluding other products such as compound donkey-hide gelatin paste, Taohua Ji , etc. Regarding the reasons for the price increase, Dong'e Ejiao President Qin Yufeng said that the main reason is that the supply of donkey skins is becoming increasingly tight.
Dong'e Ejiao has raised prices frequently in recent years. According to incomplete statistics, since 2010, the company has raised prices for some of its products 15 times, and at most it has increased prices three times a year. (China News Service Client)
｜Comments｜ Public data shows that between 2001 and 2016, the retail price of Dong'e Ejiao's donkey-hide gelatin products increased from 130 yuan per kilogram to 5,400 yuan, an increase of more than 40 times. Just saw at the official flagship store of Dong'e Ejiao in Taobao that the 500-gram donkey-hide gelatin blocks are priced at 2,698 yuan.
Behind the crazy price increase of Dong'e Ejiao products, the stock prices of its listed companies have also risen. Indeed, the price of donkey-hide gelatin was not high at the beginning, and the price increase was not easy to cause controversy, and it also brought great profits to the company. Later, as the cost price of raw materials for making donkey-hide gelatin has also increased year by year, in order to reduce the impact on profits, the company had to transfer the cost to consumers. But this method will definitely have a ceiling, so every time Dong'e Ejiao raises the price, it is betting on the limit of consumers' affordability.
Both the Shanghai Composite Index fell 3% this week
December 21, the stock indexes of the Shanghai and Shenzhen stock markets opened low and closed low, and the weighted stocks fell collectively, and the stock indexes of the two markets fluctuated and weakened. As the ended trading, , new stocks rose rapidly, driving stocks in both markets to rebound one after another. The decline of major stock indexes narrowed rapidly, and the Shanghai Composite Index lost 2,500 points and recovered.
As of the close, the Shanghai Composite Index was 2516.25 points, down 0.79%, the Shenzhen Component Index was 7377.60 points, down 1.20%; the ChiNext Index was 1270.30 points, down 0.61%. In addition, the Shanghai Composite Index and the ChiNext Index both fell 3% this week. (First Financial)
｜Comments｜As the two major weight sectors of finance and real estate, A-shares performed poorly yesterday, which is also a microcosm of the A-share trend this week, and continues to decline in the continuous fluctuations. At this time, except for speculative hot money, most investors do not have much intention to enter.
However, just last night, with the release of the content of the Central Economic Work Conference, the market will usher in new positive signals. Moreover, the current bottom is relatively solid, so you can look forward to the performance of A-shares in the last week of 2018.
