DZ20220307

 

*Key points

Marco

* Highlights of 2022 Government Work Report

- China sets its GDP growth target for 2022 at around 5.5%

- China plans to create more than 11 million new jobs in 2022

- China will maintain its CPI at around 3% in 2022

- China plans to cut the ratio of its deficit to GDP to around 2.8% for the year of 2022

- China aims to keep its grain output of over 650 million metric tons in 2022

- China's tax refunds and cuts are expected to total around 2.5 trillion yuan (about $395 billion) this year

- China will take well-ordered steps to achieve peak carbon emissions and carbon neutrality

- China will continue support consumption of NEV

- Supporting mechanism of bond financing to be further optimized for private firms and to promote registration system of stock issuance

- China will implement a 10-year action plan on basic research to ensure stable support for scientific and technological innovation over the long term

- China will improve measures for the three-child policy with baby (age below 3) caring expense to be added in the deduction of personable income tax

 

Financials

*The board transfer rules of listed firms in Beijing Stock Exchange was issued which clarified min listing term required of 1 year for application of transfer to ChiNext and STAR board.

 

Industrial Economy

*China Tobacco Bureau: China tobacco industry realized business tax of cny 1.358tn in 2021, up 6.08% y/y and fiscal income of cny 1.244tn, up 3.36%, both hit new high for record.

 

Co Focus

*Gree is preparing for split listing of equipment and industrial core component business, which has been confirmed by Dong Mingzhu, president of Gree and it is suggested that Gree to take efforts in AI, robots and energy storage fields in future 3 years.

*Person in charge in Luxshare responded on news suggesting co on the waiting list of foundry plants of Apple Car that no information can be disclosed given confidentiality agreement signed.

 

*Block Trade Info

*Discount

- Eternal Asia Supply (002183 CH) saw 1 block trades worth 29mn at 5.24 yuan per share, 2.06pct discount from last closing.

- Xiantan Co (002746 CH) saw 1 block trade worth 72mn at 9 yuan per share, 4.66pct discount from last closing.

- Xilinmen (603008 CH) saw 2 block trades worth 35mn at 31.5yuan per share, 2.45pct discount from last closing.

- Shanxi Coal International (600546 CH) saw 4 block trades worth 512mn at 12.49yuan per share, 5.02 discount from last closing.

- Ming Yang Smart (601615 CH) saw 9 block trades worth 48mn at 24.05yuan per share, 12.58pct discount from last closing.

- Bgi Genomics (300676 CH) saw 4 block trades worth 34mn at 77.93 yuan per share, 8pct discount from last closing.

*Flat

- Sinofibers Tech (300777 CH) saw 1 block trades worth 15mn at 53.27 yuan per share, 0.00pct discount from last closing.

- Rongsheng Petrochemical (002493 CH) saw 9 block trades worth 30mn at 16.51yuan per share, 0.00pct discount from last closing.

 

*Margin Trade

*Connection Trade

*Index Futures

*Index Options

*Treasury Futures

 

*Night Session Commodities Market (As of 02:30 am)

 

Commodities (night session):

* Global crude oil price rose collectively amid geopolitical risk. April NYMEX crude oil contract up 6.81% to closed at $115.00/b and accumulated a weekly gain of 25.56%, May Brent contract up 7% to closed at $118.19/b and accumulated a weekly gain of 25.57%. INE crude oil active contract up 2.3% to closed at 721.2 yuan/b.

* COMEX gold active contract closed at $1974.9/oz (up 2.01%), SHFE gold active contract closed at 398.96 yuan/gram (up 1.17%).

* Metals mostly closed up collectively. LME aluminum up 3.34%, copper up 2.41%. SHFE aluminum down 0.17%, copper up 1.70%, bonded copper up 2.48%.

* Commodity futures mostly closed up, Energy & chemistry futures performed strong, bitumen soared 5.19%, fuel oil rose 3.01%. Black series rose collectively, coking coal rose 3.29%, thermal coal up 2.77%. Agriculture futures rose collectively, rapeseed meal rose 2.99%, soybean meal up 1.97%.

 

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