Chinese Bank: the second half of the monetary and credit expansion difficulty is not small

The Institute of international finance Chinese bank issued in June 30th "in the 2016 three quarter financial outlook report", BFD coupler is expected in the two quarter GDP growth of around 6.7%, anchor socket with a quarter growth rate. The second half of the year, more global economic uncertainty, the domestic economy short-term difficult to reverse the predicament, is expected in the three quarter GDP growth of about 6.7%. Chinese Bank expects the second half of the monetary and credit continue to maintain growth, further expansion of the difficulty is not small, is expected to the end of the three quarter, M2 grew 12%, the scale of social financing stock rose 13%, compared to the two quarter of a weak recovery. The "report" is expected, the second half of the year, with the decline narrowed, foreign exchange investment in infrastructure to maintain a stable, real estate high, monetary and credit will continue to maintain a rapid growth. Is a foreign exchange decline narrowed. At the end of 5, the balance of foreign exchange for 23 trillion and 720 billion yuan, compared to 4 at the end of the month fell 53 billion 700 million yuan, 5 consecutive months of decline has narrowed, the future this trend will continue to reduce the pressure of monetary tightening. The two is the monetary and credit demand is still relatively flourishing. Investment in infrastructure to maintain a stable, real estate high, to increase the demand for credit. However, the real estate sales slowdown, local government financing sources of expansion is limited, compared to the size of the financing of the new demand for real estate and infrastructure investment in the two quarter will further decline. Of particular concern is that non financial sector loan demand decline is more serious, which restricts the currency credit expansion space. Overall, the promotion of financial data in the rebound momentum is weak, is expected at the end of the three quarter, M2 grew 12%, the scale of social financing stock rose 13%, compared to the two quarter of a weak recovery. The "report" pointed out that the second half of the inter-bank market liquidity will continue to maintain a steady partial loose pattern, mainly in the narrow range of low interest rate. The bond market will show a high consolidation, running slightly downward trend. We expect the market will continue to be in shock finishing market, operating range may be expanded. The RMB exchange rate against the dollar devaluation pressures still exist, but does not appear the trend of weakening, wide two-way fluctuations or become a major feature. At the same time, the RMB exchange rate remained stable condition. The study of international financial Chinese bank suggested that short-term steady growth policy can not relax, need to adopt more favorable policies and measures to expand the total demand, the actual growth of close to the potential growth, further ease the economic downturn pressure, structural reform and fostering new energy maneuvers out of time. In the long term to accelerate structural adjustment and the supply side reform, foster new economic growth momentum, and lay a solid foundation for sustained economic growth. Reporter Liu Guofeng steel chamfer

The definition of a variety of illegal charges including bank commission lured to buy financial products

Beijing In July 1, ringlock scaffolding according to the national development and Reform Commission website news, development and Reform Commission recently issued the "commercial bank law enforcement fees behavior guide". The "guide" is that commercial banks many illegal charges, including beyond the government guidance price of the floating range, to explicitly cancel fees to charge. The "guide" clearly, for the implementation of government guidance, government pricing fees, commercial banks in one of the following cases, identified as acts of violation charges: (a) more than the government guidance price of the floating range; (two) higher or lower than the government pricing; (three) setting belongs to government guidance, government pricing in the range of fees or standards; (four) early or delayed the implementation of government guidance, government pricing; (five) continue to charge explicitly cancel fees; (six) other acts of violation charges prohibited by laws and regulations. The "guide" clearly, for the implementation of market regulated prices and fees, commercial banks in one of the following cases, identified as acts of violation charges: (a) fees in the price list abroad; (two) charges beyond the tariff provisions; (three) charges object and price list do not conform to the provisions; (four) the head office of relief policies did not execute in place; (five) other acts of violation charges prohibited by laws and regulations. The "guide" clearly, the commercial bank violates the voluntary principle of equality, forcing customers to buy services, identified as illegal charges, considering the specific factors including but not limited to: (a) in loans or provide financing in other ways, whether mandatory services and fees; (two) in loans or provide financing to the other way, whether forced tying financial funds, precious metals and other financial products; (three) in loans or provide financing in other ways, whether the use of false or misleading price means to entice consumers to buy insurance and other financial products; (four) whether to force customers to the specified enterprise management assessment, insurance etc. business. The "guide" is also clear that commercial banks agreed to give customers liquidity loans, contrary to real customer willingness in the process of business operation, to provide financing to compulsory acceptance form, unreasonable increase customer burden, increase the intermediate business income, identified as acts of violation charges. ferrule insert

The first half of the size of cargo base on the "roller coaster" caused by class B shares soaring demand for hedge Beijing on 30 June, (Zhang Feiran) in the first half of the year, ringlock scaffolding A stock market shocks, the number of public fund products exceeded 3000, assets back to 8 trillion era, with the hedging function of money market fund soared to 5 at the end of 4 trillion and 590 billion yuan, take the "half of the country". According to the latest data China Fund Industry Association announced that in May China's open public fund assets amounted to 8 trillion and 90 billion yuan, of which the size of equity funds 665 billion 828 million yuan, bond funds 743 billion 238 million yuan, hybrid funds 1 trillion and 763 billion 142 million yuan, and the Monetary Fund to 4 trillion and 590 billion yuan way ahead of other types of fund products. From the first quarter has been published at the end of the data, Celestica balance Bao, China Jinzeng Li B, ICBC Credit Suisse currency respectively to 762 billion 606 million yuan, 216 billion 158 million yuan and 178 billion 466 million yuan occupy the size of the top three. <strong> Class B share is growing rapidly</strong> Compared with 52 weeks ago, the Monetary Fund Class B shares significant growth, the fastest growing share of the top 15 monetary fund, class B shares accounted for 2/3. According to the size of the funds involved in the monetary fund limit can be divided into class A and class B, class A and class B for medium and small investors, institutions and large investors, the general threshold for participation in more than 500 thousand yuan. Kay stone financial products research center analyst Yu Chenyao also had a similar observation. She said to the people's financial class B shares, the total share of the total share of the fund and account for money from the beginning of June last year rose quickly. There are two reasons for the rising share, because demand for hedge funds makes strong originally existing class B shares rise; two is the second half of last year the newly established more than 30 class B fund shares, B monetary fund sales service lower rates or even free, and the income is higher than the A shares, part of a class a share to class B shares. Overall, the market correction and the broad market shocks, the low risk of institutional investor class B shares of the fund is very attractive. <strong> The size of sitting on the roller coaster"</strong> The size of the fund currency through the "roller coaster" (tab: Zhang Feiran) Although the absolute size of the monetary fund is huge, since 2014 has been gradually replaced by equity fund raised funds to become the size of the boss, but this year, the growth rate has experienced a roller coaster inversion. The financial data terminal according to the WIND statistics found that, compared with the end of last year, a quarter, monetary fund shares by a 466 million down to 438 million, shrink the size of 299 billion 42 million yuan, the 2013 Monetary Fund rapid development for the first time since the scale of negative growth. By May, the IMF and the fierce "water" 291 billion 618 million yuan, up to the size of 4 trillion and 590 billion yuan, and a record high. Fixed income department deputy general manager of Guangdong Development Fund, GF fund manager Wen Xiujuan pointed out that the first half of the macro economy has experienced a significant rebound in the two quarter and the quarter decline process, stabilize the economy still needs time. Monetary policy, the central bank showed that the stable neutral attitude, coupled with the depreciation of the exchange rate pressure, liquidity will remain stable, but the short term is difficult to see special loose. Bonds and other assets of the absolute price is maintained at a low level, and the risk appetite of investors is also at a very low level, in the short term, the overall size of the fund will maintain stable growth. shuttering magnet

For the balance of financial income risk capital placards new routines

This year, the market continued to weaken, many of the company's share price performance is relatively low. However, since this year, capital placards listing Corporation compared to the fourth quarter is greatly reduced and the reduction of industrial capital has emerged. Wind data show that only in June two, the listing Corporation shareholder dished out about 30000000000 yuan reduction plan. Haitong Securities is expected in the second half of the overall net holdings of industrial capital amounted to 77 billion 300 million yuan, to speed up the pace of reduction. After the capital placards began to holdings of shares of the listing Corporation. Although the overall less than the previous insurance funds and other financial assets, but there are still a lot of capital movements, placards "routine" is also different. The rush to raise enthusiasm decline This year, the city of *ST, Yaxing, MOGA shares, and shares, Langfang faersheng Hironobu development, Tianmu pharmaceutical and other companies are all capital placards, but relative to last quarter fiery placards, placards capital grab chips enthusiasm decreased significantly. Data show that the fourth quarter of last year, the industrial capital of the insurance funds in the market frequently placards listing Corporation at a shopping spree, capital predators "willful" trend. At the same time, the industrial capital and a substantial reduction of the shares of the listing Corporation. With the lifting of the ban set by such wave, including industrial capital, market funds frequently throws reduction single. Statistics show that only since June, two announcement of the reduction plan involving funds of up to about 30000000000 yuan. Haitong Securities Research Report that is expected in the second half of the industrial capital holdings of the total size of about 90 billion 900 million yuan, holdings of about 13 billion 600 million yuan, the net reduction of the size of about 77 billion 300 million yuan. Insiders said that industrial capital holdings accounted for 10.7% of the total amount of capital outflow, industrial capital holdings of the impact on the market have little effect. It is worth noting that the early placards of recent capital holdings of action. June 3rd, Tianxing instrument announced that the company's shareholders holding more than 5% of the new value of Guangdong Investment Limited company of management of sunshine placards No. 1 securities investment fund in June 3rd to sell shares of the company 107 thousand and 200 shares, representing 0.07% of total share capital. After this reduction, the new value of Guangdong Investment Limited company still holds 7 million 535 thousand shares, representing 4.98% of total share capital. The new value of the investment in November last year through placards into listing Corporation. Garden City gold June 18th announcement, as of June 15th closing, and the issue of independent thinking of investment as an investment adviser, only 5 trust fund products, through the Shanghai total holdings of shares of stock 1 million 211 thousand and 433 centralized auction trading system, the company's total share capital of 0.5403%. After this reduction, thinking through independent distribution and investment as an investment adviser, only 5 trust fund products together hold shares to 10 million shares, representing 4.4598% of total share capital, no longer holds more than 5% of the shares of shareholders of the company. Earlier, on April 25th to June 7th is equal to the investment through the SSE centralized auction trading system's total holdings of shares 11 million 211 thousand and 400 shares, reducing the number of shares has reached 5% of the total equity of the company. Statistics show that since the second half of last year on investment holdings of shares and Garden City gold hit 5% and 10%, respectively in July 15, 2015 and October 19, 2015 of the placards line. Although less than the fourth quarter of last year, but now, venture capital and other financial capital is still in the remnants of placards. In June 23rd, Poly Real Estate announcement, Taikang Life through its Taikang asset subscribe non-public offering of shares of the company, will become the second largest shareholder of the company, Taikang asset management ho throw 6 billion yuan placards Poly Real estate. After hundreds of years of life won the victory precision placards, Changjiang Securities by Kuo Hua life placards by hundreds of years of life; Wanfeng auto placards. The "routine" of different placards Market leverage is relatively cheap, but the capital did not sense of enthusiasm, behind each capital under the current environment of "routine" different. "Industrial capital and insurance capital logic in the placards are not the same, industrial capital to financial investment demand, but also a part of the funds on listing Corporation industrial resources and capital market resources, even hope that the placards form, participate in the decision-making management. The fourth quarter of last year, the insurance fund is heavily placards listing Corporation, such as universal insurance products in support of funds, insurance companies, investment demand, insurance funds of listing Corporation management decision of little interest ", Haitong Securities analysts believe that. And this year, the market long-term low, resulting in the listing Corporation shares chips relatively inexpensive, but did not cause the industrial capital placards tide, even after the reduction of the withdrawal of funds placards. China Securities Daily reporters learned part of the funds and listing Corporation, affected by the macroeconomic situation, since this year, part of the listing Corporation, especially the transformation needs of the listing Corporation, progress in business development, restructuring is relatively slow. On the one hand is the macroeconomic slowdown, many industries appear to increase the shrink or even signs of recession; on the other hand is the regulatory policy guidance, strict supervision departments in the situation of Internet banking, VR, and other fashionable concept of industry cross-border mergers and acquisitions are also cool. The recent backdoor deal also blocked a portion of the path of industrial capital operation. In addition, this year, especially since the two quarter, part of the company's share price performance, industrial capital holdings are relatively profitable. Industrial capital placards return relatively low or will be the norm." Listing Corporation believes that. As a general financial investment role of the insurance funds and other financial capital, slowing the pace or placards only stage of. According to the insurance product sales channels are introduced in the influence of investor risk appetite changes and other factors, the current universal insurance and other insurance products sales in good condition, the insurance company is the accumulation of a large number of funds. This is part of the funds through various channels to enter the market, the purchase of public and private products, listing Corporation and other placards. "The last quarter of the market situation is short of funds during the flood caused by the shortage of insurance products, asset allocation of insurance funds, insurance funds placards listing Corporation even regardless of the cost. This year, the flow of funds began to slow down and become dispersed, making the insurance funds allocation is relatively decentralized, placards listing Corporation also began to seek the balance between income and risk in the market of the two. The recent real estate industry listing Corporation insured funds placards are a result of "funds balance risk and return, a Shanghai public offering institution fund manager said. Reporter Xu Jinzhong scaffolding parts

China through loans from financial institutions in the proportion of adults less than 10%

In June 30th, second years Chinese Inclusive Finance will be held at the Tsinghua University. Beijing Photo by Qiu Yu    Beijing In June 30, lifting anchor Beijing (Qiu Yu) "in the personal credit, China's financial institutions borrowing by the proportion of adults was 9.55%, the average level of less than G20, Chinese people's Bank Financial Consumer Protection Bureau deputy director Sun Tianqi said on the 30. In June 30th, joint Tsinghua Wudaokou "Tsinghua Financial Review" at the second China inclusive financial years will be held at the Tsinghua University. The theme of this annual meeting is "the focus of financial poverty alleviation, practice sharing economy". Sun Tianqi at the meeting pointed out that China's G20 in the inclusive financial index system (2013 and 2014) data index is 30, each index in world rankings, China ranked in the top 30% of the total 12 index. He said, in the personal credit, China's financial institutions borrowing by the proportion of adults was 9.55%, lower than the average level of G20 (14.87%); the information barriers in the credit market, China's score is 50 points, lower than the G20 average score (61.84 points). "On Inclusive Finance, China's financing needs to enhance the space is relatively large and small and medium-sized enterprises in personal credit, Sun Tianqi stressed. He said that China's savings account and a number of indicators of good performance. As the proportion of adults have a savings account (78.93%) and the proportion of savings in the financial institutions of adults (41.15%) and other indicators, the average value of all countries is better than that of G20 (76.50% and 35.45%). In December 31, 2015, the State Council issued "to promote the development of inclusive financial planning (2016 – 2020)" pointed out that inclusive finance refers to the requirements based on equal opportunities and sustainable business principles, at affordable cost for the financial services needs of all sectors of society and groups to provide appropriate and efficient financial services. Small and micro businesses, farmers and urban low-income people, poor people and the disabled, the elderly and other special groups is the focus of our inclusive financial services. In this regard, vice president Wei Zichuan said, to enhance social welfare from the financial perspective, strengthen the social security, poverty alleviation and protection of vulnerable groups, to provide better, more convenient and more secure financial services to the masses, is the essence of inclusive finance. He stressed that the development of Inclusive Finance, the financial resources to more inclusive level supply, effectively improve the construction of inclusive financial supply system, is to build a multi-level, wide coverage, there are differences in the formation of inclusive financial services system, including various types of financial institutions and news media, the division of labor cooperation, complementary financial ecosystem of concurrence, symbiosis common prosperity. (end) shuttering magnet

Dalian stock exchange denied illegal transactions that regeneration, without pre-approval approval

Chinese Economic Net Beijing on July 1st (reporter Zhang Haijiao) recently, shuttering magnet according to Chinese business reported that Dalian regeneration exchange member clerk to high returns as bait, induced by a short period of time caused by investors account loss of hundreds of thousands of dollars, even millions of yuan, among them, Ms. Zhang Jiangxi within two months of a loss of 1 million 140 thousand yuan; investors said. Dalian renewable exchange did not trading oil product qualification, and involved in gambling transactions. In October 2015, the Ministry of Commerce said that the approval of any trading market in crude oil and refined oil trading has not yet, to remind investors to pay attention to the prevention of risk. In this regard, Dalian renewable exchange announcement that its platform is the Dalian municipal Party committee approved the legitimate trading platform, Dalian oil (heavy oil) is crude oil, which belongs to the basic oil series, general merchandise, general trade company can operate, without the relevant departments for pre-approval. <strong> The temptation of high-yield investors two down 1 million 140 thousand</strong> According to Chinese business reported that investors in Dalian regeneration reporting materials, the reporter found that some investors are in a short period of time on the loss of hundreds of thousands or even hundreds of million yuan. Ms. Zhang from Jiangxi is a bit less than two months loss of 1 million 140 thousand yuan in Dalian investors regeneration. Ms. Zhang told reporters, "in February 18, 2016, in Dalian, the regeneration of its 266 member units with Datong (Xiamen) remote guidance Asset Management Limited business personnel opened accounts, but did not expect that as of April 20th, less than two months, the loss of 1 million 140 thousand yuan." Ms. Zhang said, Datong integrate company claims, launched a "double spring plan", the day can fry stock, fried oil at night. It is understood that the company is in Dalian Datong blend regeneration agents, and regeneration is China Dalian supply and Marketing Group Limited subsidiary. Based on this, the Ms. Zhang was chosen for its transactions. Xi'an Qi like Mr. and Ms. Zhang, also took a fancy to this brand China supply and marketing group, so choose to believe that its member Dalian regeneration. Mr. Qi in early April 2016, the 131 member Shanghai kihsco regeneration Bank Co. Ltd. in Dalian (hereinafter called "Mektec bank account"). According to Mr. Qi, after repeated operation and loss of 150 thousand yuan, the reflection and the guidance of the industry, commercial bank, Dalian Mektec began to question the regeneration and China supply and marketing group, whether there is a crude oil business qualification. So, what is the crude oil spot? In this regard, a member of the Dalian or its regeneration has been explained to investors. A Dalian also in the regeneration of its member units and loss Guo provided to reporters a copy of the Dalian crude oil regeneration investment platform advertising screenshot shows: "at present, the domestic crude oil futures investment is not mature, not to mention the crude oil futures, crude oil stocks due to the short operation time and more single direction, price change more complex reasons, can not become the mainstream way of crude oil investment, in this context, become the main investment mode of crude oil spot investment". In addition, Dalian's membership unit regeneration salesman assured investors that the crude oil is a kind of new investment channels, in a short period of time can get huge profits, and is funded by the banking supervision. It is because of a member of various "gimmick" propaganda, China supply and marketing group endorsement and investors do not understand the stock market, after incoming, losses also can hardly be avoided. A futures have commented. Reporter access to Dalian recycling business registration information, which was established in July 12, 2012, the registered capital of only 50 million yuan, the business scope for commodity trading, services, and membership in the trading activities related to equity transactions and registration and settlement business, and Internet information services etc.. Which part of the project is that "to be subject to the approval of the project, approved by the relevant departments before carrying out business activities". As a national oil franchised monopoly products, its operation must be approved by national multiple functional departments. But in 2015 October the Ministry of Commerce has clearly pointed out that "as of now, without the approval of any trading market in crude oil and refined oil trading". So, whether or not Dalian regeneration to obtain the relevant qualifications? The newspaper reporter called Dalian Datong with corporate member unit regeneration qiumou. Qiumou frank, Datong Dalian Ronghui company acting only recycled products, so there is no oil related qualification, but Dalian won the Dalian Financial Bureau regeneration oil qualification approval. When the reporter asked to provide evidence, qiumou to be rejected. Then in a copy of the complaint recordings obtained by reporters, Dalian Financial Bureau staff made clear to Dalian never had the approval of regeneration oil and Dalian oil, heavy oil and other qualifications. In addition, the disclosure of government information to the Ministry of Commerce for the investors also explicitly pointed out that the Ministry of Commerce has not received Datong, Dalian Ronghui company regeneration application for crude oil storage and sales business qualifications, not to have been issued "certificate" "approval for the storage of crude oil crude oil sales management approval certificate". In addition, Dalian production safety supervision and Management Bureau also responded, "not in my Dalian regeneration Bureau for the storage of hazardous chemicals license". <strong> Deny illegal said without pre-approval</strong> For questioned, in June 27th, Dalian renewable exchange official issued a notice on issues related to reply. According to the China business newspaper reports, complaints for the regeneration of Dalian exchange investors mainly concentrated in the Dalian there is no regeneration of crude oil between the platform and the approval of qualification? Whether customers are betting? Whether the third party supervision in the capital? Trading platform is in violation of state No. 37, No. 38, etc.. In this regard, Dalian renewable exchange announcement said in response, according to the 2012 China Development Office No. 37 commodity trading market to explain the principle of territoriality, owned by the provincial government approval of trading places, and the exercise of regulatory responsibilities, the regeneration of Dalian exchange, the Dalian municipal government approved by the trading platform set up. For the industry questioned on trading and Dalian oil variety approval, Dalian regeneration exchange said Dalian oil (heavy oil) is crude oil, which belongs to the basic oil series, general merchandise, general trade company can operate, without the relevant departments for pre-approval. Dalian regeneration exchange correct understanding of the "State Council on the rectification of various types of exchange effectively guard against financial risks" (the [2011]38), "the general office of the State Council on various types of trading venues straighten the implementation of opinions" (issued [2012]37) the prohibition of documents, Dalian oil (heavy oil) sector trading pattern analysis of spot transactions from the legal and commercial aspects. Dalian oil (heavy oil) transactions follow the "open and fair and honest credit" principle, applying the listing, one pair of listed transactions, real name transaction mode field matching. "Stock listing, pair trading venue" refers to the spot listed dealers and listing listing price quote membership, the delisting according to the listing price, floor pairing and formation of electronic contract; contract successfully paired can choose the goods or pair transfer again. Dalian is not involved in the regeneration of exchange trading, not with traders to bet. In terms of financial security, Dalian exchange settlement service by regeneration of CCB "E trade", open a special deposit account in the bank. It is understood that E trademanager is the construction of the use of electronic payment channels, for large commercial electronic trading businesses and its affiliated enterprises, individual member businesses to provide electronic commerce capital settlement, reconciliation, trust funds and credit funds supervision services, comprehensive financial services platform. For the dealer feedback, Dalian regeneration will assist the transfer of all the original data exchange data and relevant evidence, with traders legal rights, the member for serious compliance inspection, if there are irregularities, will be taken to cancel the membership and other regulatory measures, if suspected of illegal crime, will be transferred to the competent authorities. fixing socket

The balance of treasure "senior high school entrance examination" the size of more than 800 billion yuan rose just 7%

– trainee newspaper reporter Zhang Yingxiao The first half of 2016 was ending, in the past six months, the market repeated shocks, the "Securities Daily" fund of the Department of information according to WIND data show that the first half of the Shanghai Composite Index fell 17.22%, the gem index fell a total of 17.92%, in the downward shock in the market, the fund in the "senior high school entrance examination" will show how the size of change? As a reporter yesterday, more than 1727 Fund (A/AB/C separate statistics) announced the net assets of the fund, the total size of 3 trillion and 280 billion yuan, compared with the end of the first quarter of the total size of 3 trillion and 160 billion yuan, increased 120 billion yuan. Compared with the end of the first quarter, 4 fund size growth and more than 10 billion yuan for the international monetary fund. Specific view, the 4 funds were the day hongzeng Li Po (Yu Ebao), INVESCO the Great Wall, the Great Wall, King Fung financial currency currency scale growth were 53 billion 706 million yuan, 28 billion 413 million yuan, 13 billion 488 million yuan and 13 billion 395 million yuan. It is worth noting that, published in 752 of the net assets of the fund, Celestica balance treasure at the end of the two quarter assets reached 816 billion 312 million yuan, which is the size of the balance of treasure for the first time exceeded 800 billion yuan, 762 billion 607 million yuan compared to the end of the first quarter, asset size increased 53 billion 705 million yuan, an increase of only 7%. WIND data show that since 2015, by the end of the two quarter of 2016, the balance of treasure (days hongzeng) net assets at the end of each quarter were 711 billion 723 million yuan, 613 billion 381 million yuan, 603 billion 948 million yuan, 620 billion 690 million yuan, 762 billion 607 million yuan and 816 billion 312 million yuan. The size of the balance of treasure since 2015 at 600 billion yuan above and at the end of the two quarter exceeded 800 billion yuan, industry analysts said, the main reason behind the balance of treasure group Alibaba and Taobao is still the huge growth in the balance of treasure. And because of its investors in the balance of treasure funds in the capital have a clear orientation, leading to the size of the balance of treasure even less affected by fluctuations in the stock market, and this year, the market volatility adjustment, investor risk aversion is higher, so choose more of the balance of treasure income stability. At the same time, in the 1727 fund has announced the end of the two quarter, the net assets of the Fund ranked next to the balance of treasure for the building of cash Tim Lee, at the end of the two quarter, the net assets of the fund for 113 billion 338 million yuan, but compared with the end of the first quarter, the scale of growth is not outstanding, increase 4 billion 689 million yuan. In the common stock fund has been published in the end of the two quarter, asset size is currently ranked first in the harvest is event driven, for 10 billion 326 million yuan, compared with the end of the first quarter, increase 412 million yuan, the fund manager Tao Yuhe Zhang Zili. It is worth noting that most growth abc-ca healthcare theme scale reached 600 million yuan. Specific view, the end of the two quarter, the size of the assets of the fund 2 billion 438 million yuan, while the end of the first quarter, the size of the assets of 1 billion 837 million yuan, the fund manager for the party Wei and Li Can, the two quarter, the fund has made 7.39% return on a comparable 170 general equity funds ranked thirty-fourth. Securities Daily cast in ferrules

A eye-catching performance of the June new credit material trillion

Many brokers are expected in June, new bank credit is expected to continue in May growth should be around 1 trillion yuan. In June, the credit structure, residents of long-term loans will become an important part of the June new credit, corporate long-term loans will rebound, but still at a low level. According to banking industry sources, more and more new projects throughout the first half of the second half of the infrastructure construction, supporting the project funds will become the commercial banks "eyes" of the object. To maintain a high credit growth in June Enter the two quarter, new yuan credit staged a "roller coaster" fluctuation. Many brokers are expected in June and subsequent credit growth will get rid of the interference at the beginning of the new credit, to maintain a high growth rate. The Milky Way Securities chief economist Pan Xiangdong believes that this year 1-5 month, whether it is local infrastructure investment or personal housing mortgage loans have higher growth, another point of the year the bank also has "flushing" practices, not too bad credit data should be. Many bank insiders also said the China Securities Journal reporter, the first half of this year, the bank credit is "fierce", in June some customer credit approval is also faster, but it is expected that the situation will not last long. CICC is expected June M2 growth rate fell to 11%, the credit will continue to maintain high growth in June is expected to add 10000 billion yuan loan. Since June, corporate bonds net financing amount is low, while the bills and other sheet business to strengthen supervision may make sheet financing continued to shrink. Bank financial research center is expected, with the current situation of the broad credit growth, MPA assessment may be limited to restrict credit. At the time of impact performance of the bank will continue to the end of the first half of the credit growth has a certain role in promoting. Comprehensive estimates, June new credit is likely to be lower than the same period last year, a single month increase of about 900 billion, the balance of year-on-year growth rate fell below 14%, about 13.75%. The loan is still the main launch" It can be expected that in June in new loans, personal housing mortgage loans will still be quite "eye-catching performance". Bank financial research center is expected in June will still be the new commercial housing sales, enterprises operating pressure and the impact of the credit debt replacement largely. Despite the recent real estate sales declined, but the magnitude is not large. Residents of long-term loans will become an important part of new credit in June. China Securities newspaper reporter visited a number of banks in Beijing, found in Tianjin, a second tier city real estate market hot, so that commercial banks in the first half of this year a large part of credit resources to invest in personal loans. A real estate broker who told reporters, in order to attract customers, commercial banks are large loan interest rates, even a minimum about 20 percent off. The bank's efforts were not in vain. Central bank data show that despite the slowdown in broad money supply growth and social financing scale, but the RMB loans continued to maintain rapid growth. 5 months ago, a total new RMB loans 6 trillion and 170 billion yuan, compared to the same period last year increased 904 billion 700 million yuan, accounting for the proportion of social financing scale was 76.1%. Housing mortgage loan is an important reason for the rapid growth of long-term loans, long-term loans in May the household sector (mainly for housing mortgage loans) total new loans for the 53.6%, compared to March increased by 21.5 percentage points, this ratio is close to the highest level in history, has become the main factor to promote the rapid growth of RMB loans. This situation can not be sustained or. Albert I love my family group data show that the two quarter of the national key city of second-hand housing than new tenants began to decline in the second half of the real estate market will usher in the cool. Albert I love my home group vice president Hu Jinghui said, because the market demand for large amount of high temperature of overdraft, the subsequent market demand is already insufficient, if to maintain the existing policies unchanged, then in the second half of 2016, first-tier cities property market or will return to a reasonable level, the trading volume has dropped to an average annual turnover, prices tended to be stable. The fourth quarter may even decline. Bank insiders pointed out that the cooling real estate market, will be made for the commercial bank loan business to return to prudent attitude. Infrastructure investment into "eyes" of the object From the 1-5 data, the residents of long-term loans and long-term loans is hot, the needs of enterprises has always been sluggish, the loan structure is not optimistic. Bank chief economist Lian Ping pointed out that the residents of long-term loans for the property market continue to maintain high growth, occupy absolute advantage in new loans in the proportion of. While business loans because of the current domestic economy has not yet stabilized, adjust the structure, to productivity, deleveraging and other pressure, slightly less". As the business environment has not changed, the effective demand for credit may still be insufficient, rapid growth of loans to enterprises. From the June local government bond issuance, as of June 29th has issued 937 billion 400 million yuan. Therefore, the June debt replacement or will once again on the new credit caused a significant impact, especially the impact of new loans to enterprises will be very significant. In the above factors, infrastructure investment and financing platform for local commercial banks to become more "eyes" of the object. A joint-stock bank Shanxi branch responsible person said, the second half of the year we are locked local government investment and financing platform loans, other loans is not taken into account, and the amount of capital investment generally are relatively large and long term, the bank risk is much smaller. Pan Xiangdong pointed out that the first five months of the new project of local growth quickly, the follow-up project requires a lot of money matching. For commercial banks, infrastructure projects and local financing platform, is currently the subject of quality. Reporter Chen Yingying pfeifer vs box

Brazil Real currency against the dollar in June rose 11%

Xinhua news agency, BFD coupler St Paul, anchor nut June 30, (reporter Wang Zhengrun Xun Wei) by the Brazil market expectations the central bank no longer intervene in the currency markets to maintain Real underestimated, since this week Real exchange rate rose rapidly, Real 30 dollar exchange rate rose 0.2%, 3.2130 than 1, the highest in nearly a year high. In June Real has risen more than 11%, the highest single month increase since 2003. Analysts believe that the June recovery in commodity prices and the generation of Temel became president of the news is the main reason why Real rose. A British referendum decision out of the EU also makes some funds began to flow to Brazil, and Ilan Godefan's new governor of Brazil's central bank comments continue to maintain the benchmark interest rate of 14.25%, but also further promote capital inflows, pushing Real up. steel chamfer

CITIC Bank launched a new financial portal using the Internet to subvert the traditional gene

Beijing In June 28, in order to adapt to the development trend of global financial portal and traditional bank wide net change, to meet the "Internet plus" era of customer demand, in June 27th, CITIC bank officially launched a new financial portal, to create a one-stop integrated financial services platform. In order to connect to a Chi Fu, "as the theme of the conference, CITIC Bank conducted a detailed interpretation of the on-line financial portal on the revised financial portal, expanded to more than 40 channels, 134 column function points, and added 12 special services. The new portal interface to the user experience as the center of the scene, to abandon the single function of traditional sense of "official portal" information dissemination, brand transfer, into the open, sharing and intelligent Internet gene, transformation of one-stop financial services platform for the intelligent. As vice president of CITIC Bank Guo Danghuai said at the press conference, CITIC Bank financial portal officially released, is the realization of CITIC Bank Internet banking and channel integration strategy most milepost sense step, a breakthrough is to subvert the traditional image of the Bank of China CITIC bank. <strong> "CITIC pass" service can achieve a key login</strong> The new financial portal for CITIC Bank to open the underlying gene, in the whole equipment account management, support comprehensive transformation, connectivity, optimize the user experience. The new financial portal launched the "CITIC pass" service, in different business platform of CITIC bank operation, the user only to a user account to log in, to achieve a key login, enjoy the service. At the same time, the user login does not need to download and install any security plug-in can be completed. This fast and efficient account services, greatly enhance the user experience. It is reported that, in order to allow users to save time and cost of this part of the study, CITIC Bank investment security cost higher, to establish the security system of higher standard. In order to comply with the development trend of mobile Internet portal, the new innovative use of the total response type design, regardless of the user terminal equipment, in which the browser to open the website, you can see the perfect fit page. This makes the PC terminal, mobile phone terminal, IPAD realizes the multi screen service and information sharing, to further enhance the openness of service interface and friendly. <strong> From "closed" to "open" clients can share money at any time</strong> CITIC Bank's new financial portal changed the "closed type" service mode, into the true meaning of the "open" product service mode. According to reports, the user can browse to see any financial products in the new information portal, and complete financial, funds, precious metals, insurance and other products to buy loop. Citic bank customers can enjoy the salary pot, night market, financial professional financial information such as the one and only and comprehensive financial services, and to the other bank card customers can conduct transactions on the platform. At the same time, in order to strengthen the depth and breadth of services, the new portal also provides payment, outlets and other multi-dimensional convenience services, including students, travel, immigration, consulting, visa, tickets, insurance and other one-stop financial services abroad can be realized through the new portal. In addition, in the sharing of experience, pay more attention to the new portal user interaction, SNS (Social Network Service) in the adaptation and integration of the perfect, conversion from a closed system for website sharing mechanism comprehensive social networking integration. The user through the new portal, can not only complete the search, view, trading and other action to step less, but share the function through a key, complete the social networking platform will share information freely switch, whenever and wherever possible to WeChat, micro-blog and other social platforms. <strong> Customers can experience the "navigation" and "massive intelligence quiz"</strong> The positioning of the new CITIC Bank financial portal is "life wisdom" of the site, from the business development, service mode and other aspects of the user experience to subvert the traditional definition of financial institutions of the portal, "wisdom" intelligence is reflected in every detail. In the navigation design, the new portal navigation connections, so as to meet the diversified needs of users. No matter what the user interface can be through the navigation system, efficient and convenient way to find the products and services they need; at the same time, users can conduct real-time consultation through the new portal, the portal system load in order to achieve the user timely, comprehensive and feedback for massive intelligence quiz. In addition, both the reservation, query or management, audit, delivery, filling orders, CITIC Bank financial portal O2O can achieve integration, do online and offline process seamless connection. CITIC Bank, CITIC Bank financial portal is the heart of that is the user experience first interpretation. According to the insiders, CITIC Bank's new financial portal changes will represent and change the direction of financial institutions leading portal. As one of the earliest traditional commercial banks involved in the field of Internet financial, CITIC Bank has maintained the advantage of the Internet banking as a breakthrough, an important fulcrum of channel integration strategy for the new strategy. The new portal officially released, is an important measure to realize the CITIC Bank Internet banking and channel integration strategy. Vice President Guo Danghuai said at the press conference, China CITIC Bank financial portal will release the power of the Internet, the integration of professional banking services, to create the vitality of the platform, to attract users through the interaction of integrated financial services, comprehensive and convenient experience, to bring customers a new experience. lifting clutches

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