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china fund news reporter taylor

brothers and sisters, i have no sleep tonight, china’s assets are going crazy!

in u.s. stocks tonight, the dow rose more than 200 points and the nasdaq rose more than 0.5%.

chinese assets continue to soar! the nasdaq golden dragon index soared more than 10%, hitting a new high since may.

a50 futures once soared more than 3%!

the rmb exchange rate rose above the "7" mark, rising by more than 500 points during the session!

all this originated from the politburo meeting on september 26.

the timing of this meeting is unusual. generally speaking, economic policies are discussed in april, july, and december. this time, it was held in september, reflecting the central government's emphasis on current economic work. this unexpected arrangement embodies the policy determination to stabilize growth and sends a strong signal.

secondly, although the draft of this meeting is only about 1,200 words, it contains a lot of information.

for example, in the analysis of the economic situation, it is clearly stated that "face up to difficulties"; in monetary policy, it no longer mentions stability and precision, but bluntly states that it will lower reserve requirements and interest rates. there are also new proposals for real estate, which should promote the real estate market to "stop falling and stabilize."

this series of policy statements has caused a major reversal in the attitude of foreign investment. hedge fund legend david tepper said on a show: "i thought the fed's decision to cut interest rates last week would lead to china easing policy, but i didn't expect they would make such a big move. this is a complete change." when tepper was asked what chinese assets he bought, he replied: "i buy everything, i will buy etfs, i will buy futures, i will buy everything."

in addition, on the evening of september 26, with the approval of the central financial commission, the central financial office and the china securities regulatory commission jointly issued the "guiding opinions on promoting medium and long-term funds to enter the market."

among them, there are institutional arrangements for the five major types of long-term funds, including insurance funds, social security funds, corporate annuities, various types of pensions, and financial management:

1. institutional investors such as insurance funds and various pension funds are allowed to participate in the private placement of listed companies as strategic investors in accordance with the law.

2. research on optimizing or exempting institutional investors such as etfs from regulatory requirements such as short-term trading and placard raising.

3. establish and improve a long-term assessment mechanism of more than three years for insurance funds, various types of pensions and other medium and long-term funds, improve the assessment and evaluation mechanism, and enrich the long-term investment model of insurance funds.

4. improve the investment policy system for the national social security fund and basic pension insurance fund.

5. support individual choice strategies for enterprise annuities and allow managers to make differentiated investments.

on the evening of september 26, citic securities research published an article on the company’s official account that flooded the screen with only one word in the title: qian.

citic securities said in a report that china red once again exaggerated the entire market

on september 26, the september politburo meeting rarely analyzed the economic situation, the lifeline of the country, involving policies in many fields such as finance, currency, capital market, employment, and private economy.

at the opening in the afternoon, the market rose across the board. all 30 citic first-level industries rose, almost all individual stocks rose, and the daily limit of 100 stocks was exceeded!

it is confidence and the return of xinqi'er.

the shanghai composite index broke through 3,000 points from more than 2,700 points in just 3 trading days. trading volume once again exceeded one trillion yuan, hitting a new high in the past five months.

the major a-share market indexes all rose by more than 6% this week, with the shanghai composite 50 index rising by 11.86% this week.

gains in major a-share indexes this week

data source: wind, compiled by citic securities customer group development center; data as of september 26, 2024. historical data does not represent future performance. this is only the statistical result of historical data and does not constitute specific investment advice or promotion.

the signal is clear and can be summed up in one word:

dry！

the word "qian" takes the lead and unites the will.

believe in your country and believe in yourself. in fact, every ordinary person is the backbone of china. taking responsibility and forging ahead are the most pragmatic feelings of the chinese people towards their family and country.

the national day is approaching, give a thumbs up to the country, and remember to give one to yourself. don’t be afraid of difficulties, never lie down, run every small home well, and support the whole country together.

citic securities analysis:

according to previous policy rules, the september politburo meeting usually rarely discusses the economy, but this meeting focuses on analyzing the economic situation, which may reflect the importance of decision-makers on increasing macro-control and strengthening counter-cyclical adjustments.

the meeting covered finance, currency, real estate, capital markets, private economy, people's livelihood and employment, and many other aspects, emphasizing the need to work hard to complete the annual economic and social development goals and tasks.

the focus of subsequent fiscal policies may be tilted towards benefiting people's livelihood and promoting consumption at the margin. helping low- and middle-income groups and boosting the trend of consumption upgrading may be the focus. the shift in the focus of fiscal expenditures will help improve the efficiency of fiscal stabilization of growth.

the meeting proposed that “the deposit reserve ratio must be lowered and interest rates cut aggressively,” and monetary policy easing may be stepped up.

the meeting called for promoting the real estate market to stop falling and stabilize, which will logically help reduce the drag on residents' consumption willingness by factors such as falling housing prices and existing mortgage loans. however, considering that the adjustment of the real estate market has a certain inertia, it remains to be seen when the policy will take effect.

the meeting emphasized efforts to boost the capital market. in addition to the six m&a and market value management guidelines that have been implemented before, it is recommended to continue to pay attention to the upcoming "guiding opinions on promoting medium and long-term funds to enter the market" and other documents, and continue to improve the capital market's "1+n" policy. .

short-term "overcoming difficulties" and long-term "promoting development" resonate, and the development environment for private enterprises is expected to be further optimized.

in terms of employment stabilization policies, it is expected that the employment public service system and the employment support system for key groups such as college graduates will be further improved to better respond to the challenges faced by the current job market.

we must work hard and unite as one to fully stimulate the enthusiasm, initiative and creativity of the whole society to promote high-quality development.

morgan stanley said, from a technical perspective, china's csi 300 index may still have about 10% room for growth in the short term. morgan stanley said the politburo meeting and the stimulus package announced by the central bank and other regulators earlier this week were very positive. what really surprised the market, they added, were the market stabilization measures, which were unprecedented. the bank pointed out that the most important thing now is to follow up quickly and clarify the details and timetable of implementation and implementation. chinese stocks had their best week in a decade.