In order to better promote the supply side structural reform, lifting socket increase the financial institutions to support the effective investment, strengthen the short board construction, the national development and Reform Commission recently with more than and 40 financial institutions and relevant associations such as the establishment of investment and financing cooperation docking mechanism. The Commission said that in the future will work with financial institutions to strengthen ties, from policy interpretation, project promotion, analyzing the situation and problems reflected so as to provide active service for financial institutions. For example, the financial institutions of "three to a drop for a" "13th Five-Year" plan, encourage private investment, the promotion of PPP model and other major policies; major projects to promote the coordinated development of Beijing Tianjin Hebei three strategies to financial institutions, private investment, special construction funds, the central and Western Railway, emerging industries and PPP information, guide financial institutions with investment and loan; and the financial institutions to discuss economic and investment situation, seriously study and absorb the opinions and suggestions of financial institutions; financial institutions to meet in major construction projects, to support effective investment and other aspects of the problems and difficulties, the research puts forward the improvement measures, and actively reflect to the relevant aspects, promote as soon as possible to solve the problem `. (Liu Liliang)
Under the double impact of monetary policy and macroeconomic, pfeifer VS box financial products revenue this year half rate all the way down. Approaching the senior high school entrance examination did not see nuclear point, the bank as usual launch high-yield products Lanchu, rate of return is still tepid. Some analysts pointed out that the future rate of return financial products is still in the downstream channel, the decline will be gradually narrowed, compared to other investment channels and financial products is still a better choice for prudent investors. Yields fall From the beginning of June last year, the bank financial products annualized rate of return in a downward trend. The first half of this year, yields tumbled 6 months in May fell below 4%, officially entered the 3 era. According to Pu Yi standard monitoring data, bank financial products in June the average rate of return of 3.88%, down 0.06 percentage points compared to May again. Pu Yi standard analyst pointed out that the financial product yield is in the history of the last few years low, mainly affected by the loose monetary policy and economic slowdown. From the beginning of 2014, China's continued loose monetary policy. With last year's 5 interest rate cuts in early March of this year and a drop, the benchmark interest rate fell again and again. Pu Yi standard analyst believes that China's monetary liquidity is relatively loose, in the background of low interest rates, financial products yields lower hard to avoid. On the other hand, the reform entered the window period, an important reason for the economic slowdown also yields downward. The investment bank industry downturn led to end the lack of quality of the underlying asset, directly affects the benefits of financial products. Bank rate network analyst Yan Zijie also pointed out that in this case, the bank financial products significantly accelerate the pace of transformation, is actively from the fixed income asset class in equity asset class transformation, is the most direct expression of the product into the open closed transition products, to meet the FOF product development trend. Although many banks are closed in the original products based on the fine-tuning of the mode of operation, "a vest with the open type products, but this shows that banks are tightening sales single strategy products, increase the risk of low income allocation efforts to improve asset yield. In effect is not obvious Because of the "years" effect, the average income of financial products rate rose slightly last week. Bank rate network statistics, as of June 30th last week, the bank financial products, the average expected rate of return of 3.89%, compared with the previous week rose 0.03 basis points. From the data, this year the "year" effect is not obvious. In view of the deposit loan ratio assessment pressure, every quarter, the year, the end of the year, the bank will issue high-yield financial products Lanchu, income higher than usual many, many investors are targeting this opportunity to buy. Bank rate network analyst Yan Zijie pointed out that previous to the year, interbank interest rates, short-term interest rates, the reverse repo rate bonds are rising very fast, although this year has increased, but significantly better than in previous years. Not long ago, the central bank open market before the end of the reverse repurchase operations overweight to tens of billions of scale, magnitude billion. In June 29th, the central bank to carry out 7 days of 1700 yuan repurchase in the open market operation, the scale of two month high, the interest rate at 2.25%. Analysts pointed out that in the half point stack at the end of the quarter, the central bank increased the supply of liquidity, the central bank showed safeguard stability in the capital side to. At the same time, the central bank canceled the loan deposit ratio supervision red line, to reserve assessment methods, the assessment will shift on bank fixed quarter point to with the daily average of the assessment, mitigation bank quarter Lanchu phenomenon in a certain extent. But Yan Zijie believes that although the assessment in the weakening of bank Lanchu point sprint, maintained stable, but the semi annual assessment of pressure will not weaken, still trying to encourage banks to retain funds in the node before, this is the rate of return financial products last week because a slight increase. Is still the better choice for prudent investors According to the National Bureau of statistics data released in the mainland in May consumer price index (CPI) year-on-year growth slowed to 2% in the first 5 months, the cumulative average CPI rose 2.1%, CPI index for the fifth consecutive month higher than bank deposit interest rates. In this situation, the wealth of investors gradually shrink, while financial products yields continued downward, will not lead to the transfer of funds from the bank move, the stock market and other channels? Pu Yi standard analyst pointed out that due to the current financial products Rigid honor has not broken, the better choice of bank financial products is still the risk neutral and risk averse. Bank rate network analyst Yan Zijie believes that money is unlikely to flow to the stock market and real estate. On the stock market, for the risk preferences of investors more types and financial products face different customers. In addition, the continuing turmoil in the stock market many investors a wait-and-see attitude, the most direct manifestation is the number of new accounts in June decline, do not rule out this part of the funds will flow back to financial products; as for the real estate industry, although a second tier city rose three or four, but the line price still is not likely to be halt the troops and wait, the flow of funds. Intern reporter Zhang Xiaoqi
– reporter Lv Jiangtao In 2015 A A-share market ups and downs, margin brings joy or sorrow at the same time to investors, ledger blade has also become an important source of brokerage profits. But with the rapid development of the two financial services, two financial brokerage business has also exposed some problems, especially in the last year the market conditions change radically. According to the "Securities Daily" reporter statistics, since the second half of last year, there have been 5 firms in the amount involved more than 10 million yuan in the two financial business case, are in the stock market last year fell during the period of non rational investors, involving forced liquidation cases. Yesterday afternoon, Mr. Zhou to investors "Securities Daily" reporters reflect, due to forced liquidation in 2015 CSC, caused 6000 yuan loss of its economy. Mr. Zhou has filed a lawsuit, the case will be in the afternoon hearing. Reporters from Mr. Zhou lawyers learned, Mr. Zhou to CITIC Securities two violations of financial services, not to notice it forced open grounds, requiring CSC returned to strong level of stock value reached 1 yuan. In this regard, CITIC Securities declined a reporter's interview. There are a number of securities lawyers told reporters that the case has aroused great concern in the industry, everyone in the verdict. The newspaper will continue to follow-up reports. <strong> Two account by Qiang Ping</strong> <strong> For the return of stock investors</strong> Yesterday, Mr. Zhou said investors on the "Securities Daily" reporter, he and his wife in CITIC Securities two accounts were forced open a case hearing in the afternoon of 14. According to Mr. Zhou introduced in early June 2015, two accounts with his wife opened the CITIC Securities, an innovative business is "cash" of more than 9000 yuan of funds. In June 30, 2015, CITIC Securities will be the two account of the stock was liquidated, resulting in 6000 yuan of economic losses. The reporter was removed to contact Mr. Zhou's lawyer Yang Zhaoquan, lawyer from the plaintiff can be seen, the main question in two aspects. One is involved in this case is different from the traditional financing business financing business, securities companies operating 50ETF, 300ETF production back to the exchange fund, investors paid directly into account, the essence is to grant loans to the plaintiff. Because the financing is completed by the securities company staff, the client is unable to complete the business. But Mr. Zhou received more than 9000 yuan of funds is not in accordance with the "securities margin business management approach" the provisions of article eighteenth, the provisions of the securities companies can only buy the underlying stock, but can buy any stocks, not by the underlying stock limited. Two is the CITIC Securities for the first time inform investors forced liquidation information in time for the June 29, 2015 night at 10:21, the contents of the notice: "before please before July 1, 2015 15, with collateral or margin to repay the debt, make your account credit guarantee maintenance ratio at or above 150%, but CITIC Securities in on the morning of June 30, 2015 Mr. Zhou's implementation of the mandatory liquidation account. Mr. Zhou's lawyer Yang Zhaoquan said that the plaintiff claims are citic securities return to its stock was liquidated, just received notice of the plaintiff yesterday, the stock rose yesterday, the stock market value of nearly 1 yuan. In this regard, the "Securities Daily" reporter yesterday to verify the CITIC Securities, the other declined an interview. <strong> "Open sequela" appeared</strong> <strong> The number of firms in the two financial disputes</strong> Long before the CITIC Securities, Haitong Securities, Shenwan Hong and other brokerages also had forced open by investors to court. In February 25th this year, investors v. Shenwan Hong securities margin trading dispute case trial court. Investors sued Chen Jun Shenwan Hong in the stock market last year fell during the non rational tort caused by the forced liquidation in its two financial accounts in the process, claim compensation for direct economic loss of 5500 yuan and the expected benefits loss of 4500 yuan, a total of RMB 1 yuan. In February 20th this year, Fujian Province Bureau of Societe Generale Securities issued a document that the company liquidated errors in July 7, 2015 operating margin, resulting in the actual number of liquidated customer credit account stock should be far more than the number of open positions. In July 8th, and without the consent of the client to buy direct operation on customer credit accounts, in violation of the "guidelines for internal control of securities margin financing business". Therefore ordered the company in March 1, 2016 to February 28, 2017 period, every 3 months to conduct an internal compliance inspection of the margin trading business. Everbright Securities also disclosed in its annual report in 2015, the Shanghai Jingan District people's court received notice of the respondent company in January 26th this year, the margin trading disputes, litigation 3939 yuan. Recently, another example of a relatively large impact on litigation involving the two Financial Brokerage Haitong securities. In 2014, Haitong Securities to individual investors Rong (a pseudonym) opened a two margin trading account, one is the ordinary personal credit trading account, the other is a securities company through directional information management plan to open the credit trading account. Last year, Rong to Qinchuan machine (formerly Devt) 765.82 shares as collateral, respectively 50ETF, 180ETF and 300ETF short selling. However, because Rong credit accounts maintain guaranty ratio of less than 130% and failed to replenish the collateral, Rong held 237.73 shares of Haitong Securities are Qinchuan machine 10 times forced liquidation. For this year, CITIC Securities and other brokerage firms involved in a series of lawsuits about two financial business, calendar key Zhejiang Yufeng lawyer said that the legal profession is also highly concerned about the verdict, everyone in the. Hebei Gongcheng law firm Xue Hongzeng lawyer also said, did not see the specific material before the bad reviews, the key is that this kind of litigation Court on the two financial brokerage business is illegal, if the brokerage business in full compliance with the corresponding process, investors will not receive compensation. Securities Daily
Reporter Yang Bo. The British referendum confirmed "from Europe", hedge assets significantly stronger, halfen channel the rapid rebound in risk assets also suffered the impact of short-term, two rare sync up "phenomenon". Insiders said that this is mainly boosted by the global monetary easing is expected, but the unexpected easing cycle extended, may mean that the asset bubble accumulation. Investors need to guard against future market volatility. Commodity stock and bond strength across the board Announced in June 24th the British and European referendum results after two trading days, the global stock market lost $3000000000000, the highest record in history. On Tuesday, the market sentiment is rapidly warming, investors return to risk assets. In the past week, global stock market rebounded sharply, stocks in the S & P 500 index rose 3%, Europe, Asia's main stock index also rose more than 3%. The most serious blow off the European FTSE 100 index rebounded 9%, not only successfully recover lost territory, also a record high since last August. The bond market continues bullish, major economies have low bond yields refresh. 5, Japan's 10 year Treasury yields fell to -0.225%, the 10 year Treasury yields fell to 1.38%, both a record low, the German 10 year Treasury yields fell to -0.16%, also at historic lows. In addition, the United Kingdom, Italy, Spain, the 10 – year Treasury yields are also a record low. In the risk aversion driven, gold and silver sought. Since Britain announced from Europe today, the spot price of gold has risen 7%, spot silver prices rose 14%. At the same time, commodity prices overall rose. Last week Brent crude oil prices rose 4%, non-ferrous metals, LME three months, copper prices rose 3.8%, LME three months aluminum prices rose 3%. The global market of rare phenomenon of stock and bond market, commodity prices rose across the board, rooted in the market for a new round of global central bank easing is expected to rise. The central bank continued to drain, lower rates, a direct push bond prices, on the other hand, to enhance the valuation of the stock market. Haitong Securities chief macroeconomic analyst Jiang Chao pointed out that global monetary policy easing has repeatedly extended, leading to global liquidity is extremely abundant, these funds are mostly in the past financial market inside self circulation, but the current global financial markets have been excessively frothy. Because of the global stock market and bond market is relatively high, so the driving force of the current loose monetary stock and bond markets have declined significantly, but due to commodity prices are relatively low, so to promote the effect of monetary easing on commodity prices is more obvious. Founder Securities chief economist Ren Zeping said that the recent market the stock bond commodity Qi Zhang pattern, largely with the market for monetary policy easing is expected to heat up the. The valuation of the central uplift of the low interest rate system of all categories of assets, liquidity in all the valuation of depression, asset allocation and asset shortage caused by pressure. An extension of the easing cycle At the end of last year, the Fed announced interest rate hike, the first to start the process of normalization of monetary policy. At that time the market had widely expected monetary policy in developed economies will appear "differentiation" economies in the United States and Britain as the representative of the good momentum of recovery will begin to tighten monetary policy, while Europe and Japan will continue to rescue". However, these expectations have not come true, because the recovery is weaker than expected, plus Shanghai market uncertainty increased, the Fed rate hike schedule delayed the first half. In Britain the referendum confirmed that "Europe off" before, the market forecast the years and to raise interest rates two times, but after the referendum, the market believes that the fed to raise interest rates during the year has been almost impossible, even traders bet on the Fed may soon cut interest rates. Deutsche Bank chief U.S. economist Chawla expected, given the key time node in this year's US election coincided with the Federal Open Market Committee are most likely to raise interest rates several times monetary policy meeting date is very close, considering the political factors, the Fed is unlikely to raise interest rates again this year. In Europe off the center of the storm in Britain is unable to continue the previous policy path. Bank of England governor Carney said the day before, to deal with the "exit" effect, the bank may take further stimulus measures in the summer. The rating agency is expected at the end of this year, the Bank of England will cut interest rates to zero, and in 2017 the resumption of quantitative easing (QE). With the sudden break the eurozone economic recovery prospects also overshadowed, the European Central Bank has said it might take more stimulus measures, expected fiscal policy in the eurozone will be further easing. Morgan Stanley analysts expect the central bank will take the main global liquidity injection measures, such as open market operations or cut the deposit rate of gold. But considering the risk of currency rise, central banks may not be immediately cut. If economic growth continues to wind especially, capital flows continue to fluctuate, major economies, policymakers will take fiscal stimulus. Latent crisis alert Changes in the global financial market has not brought dramatic too much optimism, some industry insiders liquidity flooding caused asset prices Puzhang worried about the prospect of. Merrill Lynch analyst believes that the key strength of the central bank since 2013 has become a major prop to resist market pressures. Although the short-term risk of rapid decline, but in the long term, the central bank credit weakened it will become the largest tail risk of short-term rebound in the market after. "There is no doubt that in the UK after the referendum from Europe, the global market becomes more threatened by growing crises." China Merchants Securities analyst believes that monetary easing to promote asset prices bubble has the property of strong. Under the background of global economic stagnation, once the tide receded liquidity, the global market will face a strong impact. U.S. monetary policy is still in the interest rate cycle, the global easing is expected with the Fed will raise interest rates second times and the global market is expected to heat up over the first two months of this year's turmoil is the recent price risk assets rose visible before the eyes, may be paving the way for days after the unrest. The latest report released by the Morgan Stanley analyst believes that in the UK and Europe after the referendum, the global rise more possibility of systemic risk events, investors need to be cautious, is expected to price assets future may decline further, especially the European stock and pound. The rise in the market risk under the background of American assets, including equities, foreign exchange, such as government bonds have become a safe haven. Legg Mason analysts expect the market fluctuations will continue for months or even years, now is only a beginning. But globally there are still a large number of investment opportunities, many emerging markets, particularly in Latin America and Southeast Asia economy has maintained strong growth. The investment manager Martin Currie Investment Management Company's Maison Braun said that the next few weeks will focus on the performance of corporate earnings, especially some enterprises on the performance of a warning, expect any opportunity for the next 6-12 months will be short-term.
Beijing In July 6, July 5th, the Industrial Bank and the Dalian Municipal People's government held "vigorously develop green finance to accelerate Dalian city environmental industry economic sustainable development strategic cooperation memorandum" (hereinafter referred to as the "memorandum") signing ceremony, deepen the green financial cooperation. Industrial Bank Vice President Xue Hefeng, vice mayor of Dalian City, Hong Dengjin representing the Industrial Bank and Dalian municipal government signed the memorandum. According to the "memorandum", the industrial bank will Dalian city green travel, heating the upgrading, utilization and protection of water resources, and sponge city comprehensive pipe gallery construction, garbage disposal and utilization of renewable resources to focus on the construction of ecological environment and other fields "13th Five-Year" period and major projects to provide not less than 500 yuan green financing support, at the same time. The two sides will strengthen cooperation to build, in the emissions trading platform special guide funds, risk prevention and other aspects, to promote and establish a perfect system to protect the ecological environment in Dalian city. As the window of opening up the northeast region and the revitalization of northeast old industrial base of Dalian in recent years, leading, and actively promote the transformation of the mode of economic development and the transformation and upgrading of industrial structure, accelerate the pace of construction of a resource-saving and environment friendly society. Especially this year, the Dalian municipal government put forward the "13th Five-Year" City air quality days reached above 80%, the city's river water quality more than 85% the proportion of coastal environment functional areas of water quality compliance rate of 100%. The forest coverage rate of 41.5% in the stable ecological environment quality improvement goals. Industrial Bank as the first domestic equator bank and in all aspects of the market concept, social influence, product development, technical specifications, service and organization and leading industry, the bank will give full play to the green financial advantage, to provide green financing, technical specifications, service support and organizational guarantee for the full range of services for the ecological construction in Dalian city. At the same time, relying on multi license group management advantages, focusing on the construction of the field of ecological environment in Dalian city "13th Five-Year" period and major projects to provide covering investment, loans, bonds, leasing, fund industry, a package of financial services. To green travel as an example, in view of the Dalian city subway construction, light rail construction, new energy bus replacement, the bank can through green bonds, industry funds, financial leasing, project loans and other diversified financing modes, to meet all kinds of projects subject to the different financing needs, provide low cost, high efficiency, large scale, long term business model, flexible financing services for green travel renovation project of Dalian city. Signed the "memorandum", will further accelerate the upgrading of the old industrial base of Dalian technology, power supply side structural reform, Dalian city to achieve the ecological environment construction as the core, to play the role of market allocation of resources, promote Dalian to achieve the "two first" development goals, enhance the function of the international shipping center of Northeast Asia, international logistics center, regional financial center and international trade center of Northeast Asian "play a positive role.
In July 6th, adjustable base jack the CBRC announced that it "comprehensive risk management of banking financial institutions guidelines (Draft)" to solicit public opinions. According to the requirements of the CBRC, the comprehensive risk management of financial institutions should adhere to the principle of "full coverage". Is that risk management should cover all business lines, the foreign currency, the tables inside and outside, inside and outside the business; covering all branches, subsidiaries, departments, positions and personnel; covering the interaction among all the different risk types and risk; through the decision-making, execution and supervision of the entire department management. In recent years, in order to strengthen and standardize the risk management of commercial banks, the CBRC from international financial regulatory reforms, in combination with the reality of China's banking industry, has made all kinds of prudential rules, covering capital management, credit risk, market risk, liquidity risk, operational risk, and in various fields such as management, preliminary establishment a relatively complete risk management regulation system. On this basis, the CBRC rules in order to extract from the existing common elements, the basic requirements and refer to the Bank of Basel committee "core principles for effective banking supervision", according to international experience, the drafting of the "guidelines", formed a guide, comprehensive risk management of China's banking industry comprehensive banking rules, establish a comprehensive guide the consciousness of risk management, establish a robust risk culture, risk management and improve the governance structure and elements, improve the comprehensive risk management system, continuously improve the level of risk management. It is understood that the "guidelines" to a total of 8 chapters 54, including general principles, risk governance structure, risk management strategy, risk preference and risk limits, risk management policies and procedures, management information system and data quality, internal control and audit, supervision and regulation, emphasize the banking financial institutions to match, full coverage, the independence and effectiveness of the principle, establish a comprehensive risk management system, and strengthen the external supervision. In addition, the CBRC in the "guidelines" of the draft also proposed the concept of "risk limit management" requirements, banking financial institutions should be based on risk preference, according to customers, industry, region, product dimensions set risk limits. We should consider the limit of risk capital, risk concentration, liquidity, trading etc..
Analysts believe that CFETS can choose to share price appreciation depreciation pressure – reporter Fu Suying "Securities Daily" reporter from the foreign exchange trading center was informed that in July 5th, RMB exchange rate against the U.S. dollar reported 6.6594, prop sleeve down 122 basis points compared with the previous trading day, approaching the 6.66 mark, the lowest level since 2010 December refresh. Special topics and overseas study of Minsheng securities institute director Zhang Yu on the "Securities Daily" the reporter said, the second half of the RMB exchange rate devaluation facing some pressure, short-term can not be let down, but also do not panic, the devaluation pressure controllable in 2015 August and early 2016 that two. Zhang Yu said that from the active adjustment and pressure test can be seen in mid May, the central bank prepared, with a more active and comprehensive. Also, the devaluation was not accompanied by deterioration of micro foreign exchange data, the expected depreciation of the basic surface. Foreign exchange settlement has not deteriorated, steadily rising, foreign exchange margin narrowed, indicating that the private sector meeting held to be up significantly ease the mood; export foreign exchange rate, import payment of exchange rates, did not significantly deviate from the shore; the difference is basically stable, increase was significantly lower than the previous two peaks. This year, the RMB exchange rate volatility increased significantly, from the beginning of this year, the RMB against the U.S. dollar fell by 1658 basis points accumulated depreciation of 2.55%, but a basket of RMB exchange rate index remained stable. In June, the major historical events in Europe with the global foreign exchange market Intralipid disturbance, the final dollars being sought, short-term pressure non US currencies including RMB exchange rate, but the industry generally believe that the devaluation of the RMB exchange rate is still controllable. In May 6th, the central bank "in 2016 first quarter monetary policy implementation report" for the special elaboration to the current pricing mechanism of the RMB exchange rate, has initially formed a "closing rate + to a basket of currencies exchange rate changes of RMB yuan against the dollar exchange rate formation mechanism. In this regard, Zhang Yu believes that the logic of walking on two legs currently has a CFETS+ middle price, you can choose CFETS to share the appreciation of the devaluation of the central parity of RMB exchange rate pressure, the overall toughness stronger and better compression. "In the long term, comprehensive consideration of the" domestic economic high growth rate of import and export trade surplus + + Sino US spreads is', and there is no basis for long-term depreciation of the RMB, there is no need to be overly pessimistic, unbiased look at short-term RMB more volatility in the market, this is the exchange rate formation mechanism for market performance." Zhang Yu believes. (Fu Suying)
Yangcheng Evening News reporter Wu Haifei As the British "Europe off" after a basket of currencies continued to weaken, the RMB exchange rate against the dollar continued to pressure. In July 5th, erection anchor RMB exchange rate against the U.S. dollar compared with the previous trading day slashed by 122 basis points to 6.6594, a nearly five year low, onshore and offshore renminbi market will continue to pressure on the dollar. Analysts believe that short-term Renminbi devaluation pressure is still slightly, this under the background of market expectations of central bank rrr. Years or still a slight depreciation of the RMB The next day, the British "off the European" dollar once a day fell 599 basis points, then began to maintain two-way volatility slightly depreciation trend from last week. The middle of the official release of 5, the RMB exchange rate against the dollar price of 6.6594, compared with the previous trading day down 122 points, a record low since December 2010. With the recent RMB exchange rate volatility on the increase, the market for its ability to maintain a stable worry again. However, analysts pointed out that the dollar caused by the recent devaluation of the RMB in the euro, sterling as the representative of the non US currencies. The people's Bank of China responsible person had also said that the recent period, the international foreign exchange market by the British "off the European referendum" effect of greater volatility, the RMB has depreciated against the dollar. But overall, the RMB exchange rate is still in accordance with the existing mechanism of normal operation, the RMB exchange rate against a basket of currencies to maintain the basic stability, stable market expectations. Hang Seng said Chinese global market operations director Huang Weihong told Yangcheng Evening News reporter, the recent dollar weakness is passive, other non US currencies to adjust the RMB to a basket of currencies, the short-term RMB will slowly go down along with other currencies, we expect 6.77 years, depreciation space is not too large". UBS Securities chief economist Wang Tao Chinese in its latest report also gives a similar judgment, "after the British off the European referendum devaluation pressure was intensified, and the weakness of the dollar a few months ago, we believe that the stability of the central bank in the exchange rate policy choices more emphasis on the RMB currency basket. Therefore we believe that if the future of the dollar against other major currencies, the central bank will allow the renminbi to depreciate slightly against the dollar". But she also stressed that before the end of the RMB exchange rate against the dollar is not less than 6.8. Bank financial research center chief economist Lian Ping also believes that a British exit may make RMB exchange rate short-term pressure, but the depreciation rate is controlled. Is expected in the short term, the RMB exchange rate against the dollar will remain volatile. Drop quasi expectations The RMB exchange rate under pressure has been coupled with the recent outflow of funds, but also to let the market for central bank RRR to shrink liquidity hedge is expected to heat up. Huang Weihong also pointed out that the second half of China interest rate and RRR opportunities exist, the time window is probably the three quarter, the first quarter economic data China good economic data in the second quarter, with the world economy is poor, China may cut interest rates". In addition, he believes that the current pressure Chinese outflow of funds has not been reduced, in order to avoid more and more foreign exchange outflows of liquidity in the system is reduced, Chinese will have a lower deposit reserve rate measures. Qu Hongbin, chief China economist at HSBC will be closer to the point of view. He said that in the UK after the referendum in favor of back in Europe, given the deterioration of external demand and investment slowdown, the next few weeks, Chinese should drop or cut. A recent study of international financial Chinese bank issued the "2016 three quarter financial outlook report" pointed out that the short term should not cut interest rates, "the current real interest rate on one-year deposits are negative (1 year deposit rate of 1.5%, 5 months before this year CPI is 2.1%), taking into account the Fed may raise interest rates further if. Will boost asset price bubbles and cross-border capital outflows, therefore has not continue to cut interest rates". But the report can be considered that the recent RRR, mainly consider the following: economic downward pressure is relatively large, the uncertainty is more; inflation remains relatively low; international capital liquidity uncertainty is relatively large; foreign exchange the trend of increase decrease. "In the near future, at least consider RRR as a monetary policy tool option", the report said.
Beijing In July 6, swivel coupler CITIC Bank announced that the bank is "global sign" service in the industry, precast accessories where CITIC Bank debit card, credit card customers, the bank can easily handle including the United States, Britain, Canada, Italy, Australia, Japan and other more than and 70 countries of the global business visa, and overseas financial products also have rich to 7 categories. CITIC Bank Vice President Guo Danghuai said at the press conference: to 2016, CITIC Bank has agent visa to the United States for 18 years, the U.S. embassy is the only official payment, transfer and return the passport agency, accumulated to provide services for the 1500 United States signed million customers. Today, CITIC Bank continues to expand the scope of the visa service, and officially launched the "global sign" service, visa will be expanded to more than and 70 countries around the world, and the overseas financial products have been enriched to 7 categories. With the continuous upgrading of CITIC Bank Business in overseas financial products and services, "going abroad, looking for CITIC" brand also will be more popular. It is understood that China CITIC Bank "global sign" four major advantages of leading industry, is a 8 embassy authorized, CITIC Bank is the United States, Britain, Italy, Brazil, South Africa, Singapore, New Zealand and Israel in 8 countries embassy visa fee, authorized transfer or special account business only domestic financial institutions the two is 15 days; effective sign, from the customer will be required to provide information to the CITIC Bank, within 15 working days to the sign; three is the 70 country visa coverage, CITIC Bank joint travel agencies, to provide the United Kingdom Canada Japan and South Korea, Australia and other more than and 70 countries, 2-10 visa service four; 1500 exclusive service line of the country more than 1300 outlets and 95558 overseas financial specialist online customer service platform 100 exclusive team, provide visa for advice and service to customers, including the generation of visa application form, all the application materials, pay the visa fee, finishing all the required materials etc.. In addition, based on "global sign" one-stop service, CITIC Bank jointly Chinese UnionPay, UnionPay international, Eastern Airlines and American Tourism Promotion Bureau jointly launched the "million overseas dream scheme". It is understood that, as in the industry launched the first overseas financial business bank, CITIC Bank financial products abroad has also covered the visa, foreign exchange, cross-border settlement, foreign currency financial, financing, credit certificate, global asset allocation and other seven categories, can provide one-stop service for business, study abroad travel, immigration, foreign nationals and other five categories of customers.
"The use of venture capital from the historical experience, role and function of perfect corporate governance structure. Help to promote the development and perfection of the capital market. As for the game between venture capital and stakeholders, should be in the dominant market mechanism measure." China Securities Law Research Association Deputy Secretary General Zheng Hong told the "Securities Daily" said in an interview. Zheng Hong said that the use of insurance capital we must first take into account the profitability, safety and liquidity. Especially the amount of venture capital is relatively large, so it should be well to unify the three. Therefore, the capital market has become the best platform, the scale is relatively large, relatively stable earnings of listed companies has become a priority target. "Coupled with the adjustment of economic structure and the background of the environment, so the subject existing in our country's capital market is not too much. Banks and real estate is a priority is inevitable for large. In addition, the use of insurance funds must be put to the test of legitimacy, must be based on the principle of rule of law in legal norms under constraint." Zheng Hong told reporters. Guangzhou City Jun Xia investment general manager Huang Jianfei told the "Securities Daily" said in an interview with reporters, the insurance company needs the equity asset allocation is more urgent than ever. Due to a variety of folk financial products propaganda yields tend to be high, and the monetary fund products and universal insurance products have characteristics of homogeneity in the expected rate of return, the insurance company needs to have more attraction in the expected rate of return, it is necessary to increase the proportion of equity assets. "The relevant policy easing provides mergers and acquisitions of large blue chip funds to meet the conditions of the insurance company. According to the relevant provisions of the CIRC, to meet the conditions of the insurance company, will invest in a single chip by the ratio of the upper limit of 5% for adjustment of total assets at the end of the quarter was 10%; investment in equity assets to limit the proportion of 30%, further blue chip holdings, Holdings of equity assets is not higher than the total assets at the end of the last quarter of 40%." Huang Jianfei said. Huang Jianfei said, with a large scale, long period and low cost of insurance funds for investment targets in the search for large blue chips, if attacked successfully, investment income rose sharply, and often can promote sales to the relevant insurance and financial products find a wonderful story. (Su Shiyu)