Early Reading | China Securities Regulatory Commission Responds to T+0 Trading Market | Responsible Person | China Securities Regulatory Commission
Good morning The morning reading of the news is here! On Saturday, August 19, 2023, the fourth day of the seventh lunar month in Shanghai, it will be cloudy to cloudy with scattered showers or thunderstorms. In some areas, the rainfall can reach heavy rain, with temperatures ranging from 27 to 33 ℃
Focus on Today
The China Securities Regulatory Commission responded to T+0 trading
On the 18th, the relevant person in charge of the China Securities Regulatory Commission responded to a series of hot issues that the market has been paying attention to recently.
Regarding the market's concerns about the pace of IPOs and rumors of suspension of refinancing, the relevant person in charge of the China Securities Regulatory Commission stated that they will always adhere to scientific and reasonable measures to maintain the normalization of IPOs and refinancing, while fully considering the bearing capacity of the secondary market, strengthening the countercyclical adjustment of the primary and secondary markets, and better promoting the coordinated and balanced development of the primary and secondary markets. "The market will feel this change."
Recently, there has been a lot of discussion in the market about the T+0 trading system in the stock market. The relevant person in charge of the China Securities Regulatory Commission has clarified that the timing for implementing T+0 trading is not mature at this stage. He pointed out that the current A-share market is mainly dominated by small and medium-sized investors, with 96% of investors holding a market value of less than 500000 yuan. At this stage, implementing T+0 trading may amplify market speculation and manipulation risks, especially institutional investors who heavily use programmatic trading. Implementing T+0 trading will exacerbate the disadvantaged position of small and medium-sized investors, which is not conducive to fair market trading.
Recently, there have been many calls from investors to reduce the stamp duty rate on securities transactions. The relevant person in charge of the China Securities Regulatory Commission said, "From a historical perspective, adjusting the stamp duty on securities transactions has played a positive role in reducing transaction costs, activating market transactions, and reflecting inclusive effects. It is recommended to consult the competent authorities for specific information."
The relevant person in charge of the China Securities Regulatory Commission (CSRC) emphasized that the CSRC has clarified the regulatory framework for the reduction of holdings by major shareholders, directors and supervisors due to divorce, dissolution, and separation, and eliminated potential institutional loopholes. Next, we will continue to do a good job in reducing holdings through supervision. Pay close attention to the issue of shareholder reduction reflected in the market, carefully analyze and evaluate in depth, timely study and optimize the reduction rules, further regulate the reduction behavior of major shareholders, directors, supervisors, and other relevant parties, and enhance institutional constraints.
When responding to how to introduce more medium - and long-term funds, the relevant person in charge of the China Securities Regulatory Commission stated that the focus is to create a policy environment conducive to the entry of medium - and long-term funds into the market. At the same time, strengthen cross departmental communication and collaboration, increase the introduction of various medium and long-term funds, and increase the proportion of equity investment. In terms of specific policies, the China Securities Regulatory Commission will support the National Social Security Fund, Basic Pension Insurance Fund, and Pension Fund to expand their investment scope in the capital market; Enrich the personal pension product system and include equity products such as index funds in the investment selection range; Promote the improvement of the investment management system for the national social security fund and basic pension insurance fund, and further promote the market-oriented investment and operation level of pension funds; Promote and accelerate the expansion of the personal pension system to the whole country, etc.
§Shencheng
On the 18th, another international variety of China's futures market, the consolidation index futures, was listed and traded on the Shanghai International Energy Trading Center, a wholly-owned subsidiary of the Shanghai Futures Exchange. It became the first international shipping index futures product to be listed on the domestic futures market, helping to improve the risk management level and international competitiveness of shipping industry chain enterprises.
On the 18th, the Taipei City Government announced that Taipei Mayor Jiang Wan'an will lead a delegation to Shanghai from the 29th to the 31st of this month to participate in the "2023 Shanghai Taipei City Forum" and conduct municipal exchanges and visits.
On the eve of the sixth Chinese Physician's Day, Professor Shao Zhimin and 9 other individuals from Fudan University Affiliated Cancer Hospital, as well as the Chinese Foreign Aid Medical Team, were honored to be selected as the "Most Beautiful Doctors" of 2023. He is also the 10th clinical doctor in the Shanghai health system to receive this honor.
§domestic
On the 18th, the Ministry of Commerce released data showing that from January to July this year, the actual amount of foreign investment used in China was 766.71 billion yuan, a year-on-year decrease of 4%, equivalent to 111.8 billion US dollars, a decrease of 9.8%. 28406 new foreign-invested enterprises were established nationwide, an increase of 34%.
On August 18th, the China Securities Regulatory Commission announced that in order to further activate the capital market and boost investor confidence, it will guide the Shanghai Stock Exchange, Shenzhen Stock Exchange, and Beijing Stock Exchange to further reduce securities trading fees from August 28th.
On the 18th, the reporter learned from the People's Bank of China that 31 provincial branches, 5 branches of planned cities, and 317 local branches of the People's Bank of China were listed on the same day.
The National Space Laboratory of China has been officially operational and has established a unique system of near Earth space science and applications with Chinese characteristics. Space applications are being carried out in an orderly manner, with frequent achievements. "The first batch of international cooperation projects between China and the United Nations' space agency will soon carry out experiments on the space station, and the 10 space application projects jointly implemented with the European Space Agency are also progressing in an orderly manner," said Lin Xiqiang, spokesperson for China's manned space program, on the 18th.
§International
In recent days, Japanese people have gathered to demand that the government abide by its promise not to dispose of nuclear contaminated water without authorization, withdraw its plan to discharge nuclear contaminated water into the sea, continue storing nuclear contaminated water on land, or adopt other alternative solutions.
Officials from Maui County, Hawaii, confirmed on the 17th that the number of deaths caused by wildfires in the area has risen to 111. After the disaster response work was widely questioned, Herman Andaya, the head of the emergency management agency in Maoi County, announced his resignation on the same day.
US officials revealed on the 17th that the US government has approved Denmark and the Netherlands to provide Ukraine with US made F-16 fighter jets. However, the Ukrainian side is not optimistic about using F-16 fighter jets within the year.
On the 18th, the Russian Ministry of Foreign Affairs issued a statement stating that the Russian side has decided to impose sanctions on 54 British people and prohibit them from entering Russia.
During the week ending on the 17th, the average 30-year fixed rate mortgage interest rate in the United States was 7.09%, rising for four consecutive weeks to the highest level in 21 years, further intensifying the pressure on homebuyers.
The focus of Jiefang Daily today
