DZ20230829

 

Policy

*MoF and and State Administration of Taxation jointly issued notice on continuing to implement multiple preferential policies on personal income tax, which included continue to implement the annual one-time bonus personal income tax policy until December 31st, 2027. For eligible foreign individuals, they are allowed to choose to enjoy special additional deductions for personal income tax or enjoy tax-free preferential policies such as housing subsidies and children's education expenses. For ocean-going crew members who have sailed for a total of 183 days during the tax year, their salary income shall be included in the taxable income by 50%, and personal income tax shall be paid according to law.

 

International Relationship

*Ministry of Foreign Affairs: In view of the current situation of China-Japan relations, both sides have agreed to postpone the visit of the New Komeito Party delegation to China.

 

Industrial Economy

*The Joint Procurement Office issued a notice to carry out the ninth batch of national drug centralized procurement related drug information filling work, starting from August 28th and including 195 varieties of drugs.

*The director of the NDRC, Zheng Zhajie, made a report on the implementation of the national economic and social development plan this year, which pointed out to increase the intensity of macro policy regulation and actively expand domestic demand, to strengthen the food security guarantee system and capacity building,effectively enhance the ability of grain regulation.

 

Financials

*The third review draft of the revised company law was submitted to the 14th session on August 28th Standing Committee of the NPC fifth meeting review, which made modifications and improvements to further implement the requirements for equal protection of property rights, strengthen norms for controlling shareholders and actual controller.

*Liu Kun, head of MoF, made a report on the budget implementation this year, which pointed out to work harder to implement proactive fiscal policies and prevent and resolve local government debt risks.

 

Aug 28 Block Trade Info

*Discount

- Moutai (600519 CH) saw 2 block trades worth 149.74mn at 1770.00yuan per share, 3.54pct discount from last closing.

- Drinda New Energy (002865 CH) saw 1 block trades worth 121.56mn at 101.30yuan per share, 1.80pct discount from last closing.

- Dahua Tech (002236 CH) saw 1 block trades worth 194.00mn at 19.40yuan per share, 4.01pct discount from last closing.

- Hengxing Sci&Tech (002132 CH) saw 2 block trades worth 74.88mn at 2.88yuan per share, 11.93pct discount from last closing.

 

*Margin Trade (SZ Margin Trade balance not released)

 

*Connection Trade

 

*Index Futures

 

*Index Options

 

*Treasury Futures

 

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

 

* Commodities (night session):

* Global crude oil price closed mixed. October NYMEX crude oil contract up 0.18% to closed at $79.97/b, October Brent contract down 0.19% to closed at $83.79/b. INE crude oil active contract down 0.09% to 635.5 yuan/b.

* Precious metals closed up collectively. COMEX gold active contract up 0.42% to closed at $1948/oz. SHFE gold active contract up 0.16% and closed at 459.16 yuan/gram.

* Metals closed down mostly, SHFE tin down 1.16%, SHFE nickel down 1.05%, SHFE lead down 0.82%. SHFE zinc up 0.46% on the contrast.

* Commodity futures closed mixed. Corn starch up over 1%, No.1 soybeans, corn, LPG, and butadiene rubber up nearly 1%. Soda ash down 5.62%, glass, PVC, coke down over 1%, cotton yarn, bitumen, wood pulp and PE down nearly 1%.

 

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