Experts: focus on consumer financial institutions are facing new competition and transition pressure

Beijing September 25 Beijing Xinhua (reporter Chen Kangliang) in recent years, scaffolding parts with favorable policies have been introduced, BFD coupler the favor of capital, "consumer finance" has gradually become a hot word in the field of financial Chinese. Here at the 2016 national tour of consumer finance summit and Innovation Contest Finals, experts generally believe that the financial consumption over a period of time to develop rapidly, but institutions are facing new competition and transition pressure. In the view of Chinese Academy of Social Sciences Institute of Finance deputy director Yang Tao, behind the consumption and rely on the support of financial innovation, on the one hand to help in the transformation of economic growth mode, a huge potential demand; on the other hand, the overall risk is still relatively controllable, there are relatively large consumer financial innovation space. From the official data show that in 2015, Chinese consumer loans amounted to 18 trillion and 960 billion yuan (RMB, same below); according to the forecast, Boston consulting to 2017, the balance of the China loans will increase to 30-40 trillion yuan. At the same time, the national policy is also actively promote the development of consumer finance, encourage consumption. In March this year, the people's Bank of China Banking Regulatory Commission jointly issued "on the increase of guidance" new consumption areas of financial support, to promote the development of consumer finance; this year's "NPC and CPPCC" period, the government work report is referred to in the national Consumer Finance Companies pilot, encourage financial institutions to innovative consumer credit products etc.. Yang Tao further pointed out that the financial consumer demand potential, but the supply is still in the blue ocean stage. From the supply perspective, consumer finance supply diversification, but still need differential development. Consumer financial products as one of the most important innovation in the field of modern financial industry, and it is also one of the institutions and the vitality of the market financial profits in the field of consumer, financial institutions are facing new competition and transition pressure. In this regard, China Financial co-founder Huang Haijia agree. Huang Haijia believes that there are four major industry pain points in the consumer finance industry: capital, efficiency, big data and IT, such as efficiency, the bank has automated decision making technology is very advanced, consumer financial institutions and some amounted to billions of dollars, the credit methods still remain in the manual and offline mode, the efficiency is very low." Huang Haijia further pointed out that, therefore, China and consumer finance ecological alliance partner, wish to build trillion consumer scenarios and this platform capital connection platform, have the ability to control the wind of cloud services, including the whole process of credit approval of this set of cloud services, such as a banking system, using the automated decision ability, provide to the customer. Through the big data and machine learning decision on this, to help the consumer financial scene end to find risk insights. In terms of risk control, Luo Wenqiang think the person in charge of solutions from the EBF of wisdom, big data will be a key to future credit risk control. Now the financial industry is the trend of consumer keywords and scene segmentation, "the market is doing segmentation, some young people do some education, rent, also have made the trip, so that the scene decided from space, scene segmentation. As these young people grow, their credit system, put forward many requirements for us, the big data credit will be a key to the future, the future of data assets will become an important part of risk control." (end) swivel coupler

Liu Maoshan won the 2016 annual "Chinese financial discipline lifetime achievement award"

China News Service September 25 Tianjin Xinhua (reporter Zhang Daozheng) by the fund of financial education will Hongru (formerly Liu Hongru financial education foundation co sponsored by the Nankai University Institute of Finance) and the 2016 annual "Chinese financial discipline lifetime achievement awards 25, held at the Nankai University, water stopper more than 300 people were a celebration of Nankai University famous financial insurance professor Liu Maoshan award. Financial education fund Hongru honorary chairman, China Securities Regulatory Commission Chairman Liu Hongru, vice mayor of Tianjin municipal government Yan Qingmin, Nankai University President Gong Ke attended the event, and jointly awarded Liu Maoshan award certificates and medals. "China financial discipline Lifetime Achievement Award Committee Deputy Director, Central University of Finance and Economics President Wang Guangqian announced the award words. "China financial discipline Lifetime Achievement Award by the fund of financial education scholar will be set up, aims to recognize outstanding contributions outstanding financial discipline leader in the financial disciplines, promote universities and scientific research institutions to carry out financial research and financial education, promote the Chinese financial discipline construction and development, cultivate talents for China financial reform, innovation and development. "Chinese financial discipline lifetime achievement award to take centralized assessment, the annual award of the year award, 1 to 3 place in the discipline construction of Chinese financial contributions and outstanding scholars engaged in teaching and research work of financial discipline. The bonus for each award 1 million yuan reward, the mainland is currently the highest amount bonus folk academic awards. Since its establishment in 2010, has Huang Da, Wang Chuanguan, Zhou Jun, Lin Jiken, Jia Hong, Ceng Kanglin, Zhang Yichun, Wang Yongming, Zhou Shengye, Yang Peixin, Zhao Haikuan, Yu Tianyi, Wang Peizhen, Wu Nianlu and other famous economic and financial experts award. Professor Liu Maoshan of Nankai University in the award-winning, is China senior finance, insurance, finance, insurance educator, since 1992 the State Council special allowance. Liu Maoshan has been engaged in economic, finance, insurance, education, scientific research activities for more than 50 years, published 5 books, published 50 papers, by various provincial and ministerial awards of more than 10, training more than 110 master students and 35 doctoral students. (end) halfen channel

Money is tight bonds still return volatility

Q21, pfeifer VS box bond futures market fell slightly last week, failed to extend the continuous moderate upward momentum. Although the bond market participants pointed out that the rigid demand is weak, but the end of the quarter funds face tight and the economic fundamentals of partial stability, so that the interest rate downward is insufficient, short-term bond market is expected to return to the shock pattern. The 21 day, the 10 year bond futures contract traded below T1612 most of the time all day long before the settlement price volatility is very small, closed at 101.035 yuan, down 0.02 yuan or 0.02%, turnover of 19 thousand and 100 hands, compared with the previous day slightly peatlands; 5 year bond futures contract TF1612 closed at 101.465 yuan, unchanged from the previous settlement price, turnover of 6173 hands. 21, the central bank open market operations continued large net capital invested, but the market funds face tight situation showed no relief. Market participants pointed out that in the tight liquidity situation, a few days ago, the bond market performed well, showing strong demand with debt, but the lack of good stimulation in the fundamentals and policy side of the case, interest rates continue downward the lack of stamina. At the same time, the Fed interest rate decision announced soon, the market sentiment has become more cautious. The short term, the bond market is difficult to break the recent shock situation, the probability of trend up or down are not. (Zhang Qinfeng) lifting insert

The Industrial Bank successfully issued $1 billion of overseas bonds created a number of records

Beijing In September 22, formwork clamp September 21st, anchor socket the Industrial Bank in the international capital market for the first time successfully issued $1 billion of bonds, created a number of records under the Chinese funded joint-stock banks overseas bond issuance, the largest maximum subscription rate, the lowest interest rate issue, the new minimum premium, to further enhance the bank in the international capital market influence and brand image. The $1 billion bond issue is issued for the first time the Industrial Bank established in September 5th, the amount of $5 billion medium-term notes under the plan, by Citigroup, Standard Chartered Bank, Merrill Lynch, BOC International as joint global coordinators, by Goldman, HSBC, Bank of communications Hongkong branch, Hongkong branch of Shanghai Pudong Development Bank, the Agricultural Bank of Hongkong branch, China silver in Asia and other financial institutions as joint bookrunner. Previously, Moodie had given the $5 billion medium-term note program (P) Baa2 (P) and long-term ratings of short-term rating P-2. The Industrial Bank attaches great importance to the first overseas bond issuance plan, the bank vice president Chen Xinjian led the international roadshow team since September 7th in a relatively short period of time, successively in Hongkong, Singapore and London and other places held a 16 round of one to one or one to many investor meetings, luncheons, direct communication with the full range of hundreds of world famous investment institutions, from the business model, profitability, risk control management, differences in management and social responsibility of each dimension, a comprehensive display of development, the strength of the company and the industrial bank credit quality, has laid a solid foundation for the success of the bond issuance and pricing. The industrial bank bond issuance was in hot pursuit of overseas banks and insurance, funds and other financial institutions. The initial bond price guidelines announced less than half an hour, that is more than $2 billion subscribed, the highest subscription orders amounted to $8 billion 800 million, a record of Chinese funded joint-stock banks overseas bond issuance maximum subscription rate record. Finally, the Industrial Bank issued bonds for a period of three years and five year two varieties, including three year bonds totaling $700 million, the issue price of three year Treasury yields +113 basis points higher than the initial price guidance narrowed 32 basis points, the coupon rate is 2%, investors in 84; five year bonds 300 million the issue price of five dollars, the 10-year U.S. Treasury yields +125 basis points higher than the initial price guidance narrowed 30 basis points, the coupon rate is 2.375%, 67 investors, the interest rate issue hit the same type of bank overseas bond issuance low. The bond issue will help the bank to further optimize the financing structure, enrich the sources of long-term funds, broaden the financing channels, strengthening investor base, the funds raised will help to promote the balanced development of the overseas business of the assets and liabilities, improve the allocation of global resources capacity. cast in sockets

50% former president said full pay cut back the pot

4 months ago by the media reports of "Hengfeng bank executives embezzle public funds case" had almost recently appeared in smooth water, formwork accessories but more waves, erection anchor current executives and former executives of the contradictions intensified. In September 13th, Prudential Bank held an enlarged meeting of the party, mobilize all 11 thousand employees signed an open letter, long before Luan Yongtai voluntarily expose. In September 20th, Luan Yongtai's lawyer in micro-blog, posted by "Hengfeng bank staff of an open letter" and a letter sent to the Yantai municipal Party committee, municipal government and Prudential Bank "Hengfeng bank executives about the occupation of the huge public funds" letter ". Yesterday, former president Luan Yongtai Hengfeng bank "to Hengfeng bank staff in an open letter" and a letter sent to the Yantai municipal Party committee, municipal government and Prudential Bank "Hengfeng bank executives about the occupation of the huge public funds" letter ", said the response to the Beijing Youth Daily reporter Luan Yongtai, malicious speculation, the related the contents of serious misrepresentation, there is no one thing to embezzle public funds. <strong> Several executives traced to accept huge amounts of money</strong> In May 2016, several media reports, has said the report material, from March 2015 to April, including Hengfeng bank chairman Cai Guohua, more than Hengfeng executives, the Bank of East Asia in Hongkong accounts, receiving huge amounts of money, and in the domestic branches of complete extraction. The total sum of money at least 50 million yuan, or even billions of dollars. For this report, Prudential Bank was denied. In May 24th, Prudential Bank published by the official website of the lawyer's statement said: "recently, some media published the Hengfeng bank ESOP, executives and other serious false news about money, misleading the public, resulting in adverse social impact, but also damage the reputation of the Prudential bank." It has since subsided, but in September 11th, south of a media again reported the matter, and to interview one of the parties, Hengfeng bank retired former president Luan Yongtai. Reported that Luan Yongtai acknowledged that the money that he received about about 21000000 at the time, because the evergrowing bank is the implementation of the "secret salary system", so he did not know the specific amount of other executives to. Luan Yongtai also said that the human resources department of Prudential Bank said the money is to reward work before his retirement. Hengfeng bank full pay cut 50% The report then caused a great disturbance. The afternoon of September 13th, Prudential Bank Party committee held an enlarged meeting. A spread out documents of the meeting said: "it is very clear, is led by Luan Yongtai, a part of premeditated malicious false opinion incidents of illegal acts, is at the expense of Hengfeng bank and interest of the employees, in an attempt to reach Luan Yongtai and interest groups do not know the sinister purpose and reap huge illegal the interests of the. This is a flagrant and Hengfeng bank and all the staff for the enemy, we resolutely not allowed and not allowed." The meeting also said that one must recognize the essence of Luan Yongtai's gang. "Yongtai Gang Luan and interests is to Hengfeng bank for private property." "When the interests are not satisfied, they want to put the Hengfeng bank down, is to buy all 11 thousand employees of the interests, should break the 11 thousand jobs." Let the employees fully aware of their rights and interests have been infringed, let the bank's 11 thousand staff vocal force, take the initiative to report and expose their criminal acts, to rely on the party, relying on employees, relying on the law to protect our rights." At the same time, Prudential Bank announced a full pay cut 50%. The reason is because the Luan Yongtai gang of illegal acts, the implementation of a year of equity incentive plan was forced to stop, which makes all the vital interests of employees suffered serious damage. Under the influence of the illegal events, the head office have to implement a pay cut plan, drop to 50%, serious impact on the income level of employees, affect employee morale. This is all to blame for the gang headed by Luan Yongtai." <strong> Issued an open letter to former president and lawyer's letter back</strong> For this fiery meeting documents, Luan Yongtai issued an open letter to the lawyer's letter and choose the way to fight back. Luan Yongtai explained that when reporters come up with a bank of East Asia on the bill for him to see, from the amount of chairman Cai Guohua is indeed to the Bank of East Asia bank card details. Because just want to tell the truth, to explain some of the situation and views to reporters. He stressed that since May the media on Prudential Bank negative reports, which broke the news had nothing to do with him. "Now the decline in operating efficiency, Hengfeng bank employees wages and personal slander, for me and many of the false framed to me, I would not do it. I will explain the situation to the party and the government, through the proper legal channels to safeguard the legitimate rights and interests of the I, I have commissioned the Beijing Cailiang law firm Lawyer Wang Ling for treatment." In the industry view, after this incident, looks like a farce, totally inconsistent with the social image of the commercial bank, will affect the bank's reputation and business. It is worth noting that the supervision department has no official statement on the matter. Hengfeng bank is a national joint-stock bank, its predecessor was founded in 1987 in Shandong Province, Yantai city housing savings banks, restructuring in 2013. In November 2013, the 48 year old Cai Guohua, from the Yantai Municipal Committee, deputy mayor and municipal SASAC party secretary post, airborne served as party secretary and chairman of Prudential bank. In February 2014, the original Hengfeng bank presided over the work of the deputy governor Luan Yongtai was promoted to executive director, President; April 2015, Luan Yongtai approved the resignation. Text / reporter Cheng Jie halfen channel

APP users give an irrelevant answer guarantee types of "precision marketing" into the Internet

When asked whether seen on APP insurance products, a mother asked the reporters "user above insurance?" The life insurance company thought the female users of APP precision marketing, precast concrete accessories suffered the embarrassment. Although the life insurance industry by Internet wings to achieve a certain premium off, to achieve high growth, but the protection type insurance business on the Internet is still not found a good way. This makes the Internet business high hopes but refused to carry out the Internet financial insurance company is very uncomfortable, they wander between traditional channels and new channels of the Internet, the Internet business to protect the type of business profits, but also to endure long time no premium scale. <strong> Internet business positioning</strong> Do not only want to protect the type of business, and want to expand the scale, to create profits for shareholders, but also to the premium grades, which in the eyes of a life insurance company, is a natural contradiction, unless the time during the year, down very innovative action, although he did not know what is, or launch the product in explosive materials, one is enough, but it is difficult to. According to the reporter, this is not the case. Many small insurance firms are actively trying to Internet business, the establishment of the relevant business departments, recruitment of IT talents, a popular Internet product experience from the insurance personnel, but they are not easily on the scale of the on-line financial insurance products, but the choice of cooperation with the Internet giant platform or popular applications, hopes to begin from this innovative business model could be a breakthrough for security business of the target population, but the effect is not ideal at present. Business is the main financial insurance business is still the Internet life insurance company. Chinese insurance industry association data show that the first half of this year, the Internet insurance premiums 113 billion 390 million yuan, is 2.5 times over the same period last year, the Internet insurance business is still the main type of financial business, the first half of the scale of the accident insurance premium income was 1 billion 110 million yuan, accounting for only 0.9% of the Internet personal insurance premium income, health personal insurance Internet insurance accounted for the total premium of 1.3%, the Internet health insurance market needs to be developed. With the Internet channel sales of financial insurance products, insurance firms, have achieved good results and hope on the premium, a breakthrough in Internet security products business of the insurance companies are facing the situation of frustrated. Premium growth in some insurance companies related to the two digit, each channel business this year across the board did not reach, therefore, the company in the middle of the year, up on the evaluation index of each department, and the company on the Internet business and there is no clear premium, then assessed to the Department door premium task is 200 million yuan. "Securities Daily" reporters got a peer data show that the first half of 2016, the company's Internet business scale premium of less than 5 million yuan. CIRC data show that 1-7 months of this year, the company premium for billions of yuan level. <strong> "Powerful alliances" and no more</strong> There are insurance firms hope to create a protection type insurance business Internet precision marketing mode. For example, there are several insurance companies with the popular client baby tree, freaky help and cooperation, hope that through the hundreds of thousands of pregnant mothers users attention, women and children into the insurance market, but the "combination" and not a beautiful flower. Insiders told the "Securities Daily" reporter analysis, preliminary summary, the reason may be that a division of the insurance company and the two party APP to different users, which leads to a "precision" did not achieve the precise effect of marketing. The insurance company will be divided into a group of female customers, the application will have the relevant user that is the target market for the application of the exhibition industry is precision marketing, and this group of customers are divided into different age, different regions, different categories of occupation. In this APP user groups, even have the characteristics of women, there are cognitive and attention vary, for example, some users themselves and baby health concern, there are users concerned about the attention of APP shopping, idle away in seeking pleasure, function setting and push on the basis of the classification of users. In fact, the application of user familiarity of insurance companies is not high, even without any impression. When asked whether seen on APP insurance products, a mother asked the reporters "user above insurance?" This phenomenon brings new problems to insurance firms. But the idea of trying to achieve scale premiums to the electricity supplier, a business unit of force, perhaps simply unrealistic. A life insurance company innovation department responsible person told reporters that both the net sales or telemarketing, or any kind of business, more means that the corresponding resources, but is not only the channels, the company has been in the attempt to gradually weaken the boundary between different channels, to maximize resource utilization of various new technologies and collaborative utility. (Liu Jingyuan) pfeifer vs box

Development and Reform Commission approved the total iron railway construction bonds issued 300 billion

According to the NDRC website 21 News, ferrule insert recently, ringlock scaffolding the national development and Reform Commission approved the Chinese Railway Corporation issued Chinese railway construction bonds, the scale of 300 billion. According to the NDRC approved, agreed to China railway company issued China railway construction bonds of 300 billion yuan, 200 billion yuan to raise funds for railway construction projects and equipment purchase, 100 billion yuan for debt restructuring. (Liu Liliang) cuplock scaffolding

Perfect the venture capital industry self-regulation system to solve two problems

Sun Hua Moderator: entrepreneurship has been a hot topic in recent years, lifting loop countries in support of business diversification. The State Council recently issued the "several opinions on promoting the sustained and healthy development of venture investment" has appeared in some quite advanced consciousness ". This newspaper today's special invite experts to give the interpretation to readers. – reporter Hou Jiening Recently, ledger blade the State Council issued the "several opinions on promoting the sustained and healthy development of venture capital". "Opinions" put forward, to improve the self-discipline and service system. To accelerate the National Association of venture capital industry set up in accordance with the law, perfect the venture investment service system, improve the accuracy of the venture capital. In this regard, accept the "Securities Daily" interview of the venture capital industry said that the healthy development of the venture capital industry cannot do without the authority of industry associations to guide, strengthen industry self-discipline supervision function, establish self-discipline system and perfect the unified national standard industry, will become an important guarantee to promote the healthy development of venture capital industry. In recent years, in-depth implementation of innovation driven development strategy, vigorously promote public entrepreneurship peoples innovation, China's venture capital industry has entered a stage of rapid development in the past 10 years, venture capital scale with an average annual growth rate of almost 20%. As of 2016 7 at the end of the national venture capital venture investment enterprises for the record management system for a total of 1778, the record of venture capital enterprises total assets of 434 billion yuan; a total investment of 17 thousand and 800 cases, a total investment of 455 billion 800 million yuan. In the case of 2015, the record of venture capital enterprise investment enterprises that provide 2 million 170 thousand new jobs, increase the value increase of 52% over the previous year related industry and service industry, investment companies tax grew 29%. In general, the development of our venture investment is still insufficient, facing the imperfect laws and regulations, supervision system does not adapt, industry credit system construction lags behind many other imperfections, especially with the rapid development of the venture capital industry, there is an urgent need for the establishment of a unified national standard system of industry self-regulation. According to insiders, in 2010 the national development and Reform Commission organization set up a nationwide venture capital Specialized Committee ", anchored in the China Investment Association name, has carried on the beneficial exploration of promoting the construction of a unified national venture capital industry self-discipline management system. Although it established ties with the rest of the Venture Capital Association, but with the local association is still "two skins", and set up around the industry organization, are anchored in the name of the government departments or provinces of venture capital institutions, not according to the independent development of industry self-regulation and industry service activities. At present, China's venture capital industry regulation and supervision system is undergoing new changes. According to the characteristics and development status and trends of China's venture capital industry, the construction of effective supervision system, has become a major new task under the new situation." A venture capital industry veteran pointed out that the discipline construction management system in the industry, to solve two problems: one is the national industry self-discipline organization and regional organizations, to decouple from the government departments, and according to the provisions of relevant laws and regulations and rules, and by the venture capital fund management institutions signed voluntarily, and consciously abide by the regulations, jointly elected management institutions, independently carry out self-discipline management. The two is to solve the relationship between national venture capital industry organizations and local industry organizations. In the framework of industry regulation, industry organization of national unity to develop a standardized self rule, and commissioned by the supervision department, responsible for record management of venture capital fund. At the same time to the bridge and the link between the regulatory authorities and take as the national venture capital fund for effective communication. ringlock scaffolding

The new policy tools on the yield curve will dominate the Bank of Japan's new QQE

The Bank of Japan announced at the end of 21 days after the monetary policy meeting, to maintain the benchmark interest rate to -0.1% level unchanged, maintained the scale of asset purchases to 80 trillion yen. The market is worth attention is that the bank although not as part of the market is expected to cut the current negative interest rates, but introduced a new policy tool. Compared with the past to expand the money supply target, stimulus policy has shifted to control the return rate curve, to implement the new qualitative and quantitative easing (QQE). The yield curve as the leading policy The Bank of Japan announced on the 21, to maintain the benchmark interest rate unchanged at -0.1%, but does not rule out further cuts. QE program unchanged, the annual purchase of assets of 80 trillion yen. It will take additional action to modify the monetary policy framework, introducing the new QQE additional yield curve control. The Bank of Japan said that the new QQE policy is mainly composed of two parts: the yield curve adjustment and control, the short end of the long end of the interest rate, the rate will continue to remain near zero for purchases of Japanese bonds until the 10 year treasury; commitment to expand the monetary base level until CPI beyond the 2% target, and stable at 2% above. The Bank of Japan's monetary policy committee voted 7:2 through asset purchase guidelines, and by a vote of 8:1 through inflation commitment. The Bank of Japan also said, will cancel the average duration of holdings of Japanese government bonds, which will slow down the negative interest rate pressure suffered by the bank, the Bank of Japan to buy bonds the average remaining maturity is 7-12. The monetary base may fluctuate, in order to achieve the yield curve control. According to the recent existing rhythm purchases of Japanese bonds, will launch fixed rate purchase operation. But the current annual growth of the monetary base did not set a goal, therefore still maintains the monetary base constant annual rate of 80 trillion yen, the annual ETF purchases unchanged at 6 trillion yen. On the same day, the U.S. dollar against the yen exchange rate fluctuates significantly, just after the announcement was diving, but then rebound. Japan's stock market also fell by turn as rose, the Nikkei 225 index closed up 1.91% to 16807.62 points. Japan's 10 year bond yields rose to zero for the first time since March. Loose is still "normal mid" At present, most analysts still expect the Bank of Japan have loose space, and will become the "normal currency drain". In a speech earlier this month, the Japanese central bank governor Kuroda Higashihiko and vice president of Wang had admitted that the negative interest rate policy to drive down long-term interest rates of financial institutions profit impact, but they also emphasize the drive down the cost of business and consumer lending in terms of power. Kuroda Higashihiko also reiterated that there is still a "full" cut space. However, the Bank of Japan's decision sparked a different view of the market, some experts stressed that the decision to make the market disappointed. NBC group analyst said that the Bank of Japan did not make a further reduction of negative interest rates, foreign exchange market disappointed. The adjustment of monetary policy is mainly aimed at the interest rate control, the Japanese government bond market trend will be of concern, the U.S. dollar against the yen is likely to remain in the range of 100-104, is expected to yen appreciation pressure. German Commercial Bank economist Zhou Hao said, in fact the only halt the troops and wait for the Bank of japan. First, the Bank of Japan did not cut interest rates; second, the Bank of Japan did not expand the scale of asset purchases; third, the Bank of Japan interest rate to control the shape of the curve, as well as from focusing on "the monetary base" to "fixed rate curve", this is probably the most difficult to let the market a word. But frankly, this means that the current interest rate level is appropriate, so the market not excessive pursuit of lower interest rates. Nordea Markets analyst Zhuang Yuan said, Japan's central bank to cut interest rates further restraint on the performance, perhaps reflecting the resistance of financial institutions. Financial institutions complained of negative interest rates for profit impact and long-term interest rates low, no measures to lower interest rates or also hinted that the Bank of Japan's monetary policy has reached the limit. The Bank of Japan's monetary policy as it is to make the policy evaluation conclusion with confidence. The Bank of Japan to maintain the 2% inflation target, and promised to expand the money supply in order to reach the target, but seem to have given up a deadline for. Another part of the experts stressed that the Bank of Japan's latest commitment will actually lengthen monetary easing cycle. Standard Chartered Bank stressed that the Bank of Japan is committed to exceed the target level of inflation, that monetary easing cycle would be more durable than previously expected, and the implementation of the yield curve control seem to be solving the asset purchase policy for sustainability concerns. Loose period have a slight boost to the dollar against the yen. The medium term, the Bank of Japan to revive inflation expectations, can substantially weaken the yen. Norinchukin Research Institute report that the Bank of Japan to lower interest rates in the future. The Bank of Japan's decision is a prelude to deepen the negative interest rate policy to help a steeper yield curve. Although the Bank of Japan under the guarantee rate of 10 years Treasury yields remain near zero, but the Bank of Japan may wish to let the term yield curve up to 5 years of steep, so we should pay close attention to the bond repurchase plan. The Bank of Japan did not increase easing efforts, but ready for further easing, thereby reducing the USDJPY downside risk. Reporter Zhang Zhenhe cast in ferrules

The Fed rate hike postponed stocks high stock index crashed opened 0.41%

Beijing In September 22, the Fed's September U.S. debt stocks to halt the troops and wait, Qi Zhang NASDAQ hit a new record closing high, driven by soaring offshore RMB 100 points. Thursday in Shanghai and Shenzhen two cities both opened, the plate across the board, baby concept, time shares, gold, satellite navigation or front. The stock index opened at 3038.42 points, up 0.41%, turnover of 1 billion 163 million yuan; Shenzhen component index reported 10644.7 points, up 0.58%, turnover of 2 billion 58 million yuan; the gem index reported 2174.30 points, up 0.56%., turnover of 610 million yuan. shuttering magnet

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