The market maintains the existing game, and it is recommended to flexibly grasp the rhythm and band participation in operation.

1. Selected financial news

my country's optical fiber quantum key distribution distance sets a world record

Professor Han Zhengfu and his cooperation with the team of Academician Guo Guangcan of the University of Science and Technology of China Wang Shuang, Yin Zhenqiang, He Deyong, Chen Wei and others have recently achieved quantum key distribution over 833 kilometers of optical fiber, increasing the world record for secure transmission distance by more than 200 kilometers and taking an important step towards realizing thousands of kilometers of land-based quantum secure communications. The results were published online in Nature Photonics on January 17.

Central Bank: Complete the Winter Olympics payment services and digital renminbi pilot work with high standards and high quality

On January 19, the People’s Bank of China convened the Beijing Winter Olympics Payment Service Environment Construction Leading Group Meeting and video conference of the Digital RMB Beijing Winter Olympics scenario pilot working group. The meeting emphasized that first, we must seize the last time window to check for deficiencies, strive for excellence, and complete the Winter Olympics payment services and digital renminbi pilot work with high standards and quality, laying a solid foundation for service guarantee during the games and realizing "two Olympics, equally exciting" . The second is to adhere to bottom-line thinking, strive to improve service guarantee, risk monitoring, emergency response and other mechanisms during the game, and provide various payment services during the game thoughtfully and meticulously to ensure that everything is foolproof. The third is to clarify the responsibilities and tasks of all parties, each performing their duties and responsibilities, uniting and cooperating to form synergy, and making every effort to ensure the complete success of the Winter Olympics.

Standing meeting of the State Council: Decided to continue to implement the partially expired tax reduction and fee reduction policy

Li Keqiang chaired the executive meeting of the State Council. The meeting pointed out that it was decided to continue to implement the partially expired tax reduction and fee reduction policies to support the relief and development of enterprises. The meeting decided to extend 11 preferential tax policies involving technology, employment and entrepreneurship, medical care, and education until the end of 2023, on the basis of the extension of some expired tax preferential policies in the previous period. First, qualified technology business incubators, university science parks and maker space incubation services are exempt from VAT. The second is to exempt agricultural product wholesale markets, farmers’ markets from property tax and urban land use tax. Exemption from urban land use tax on operational land such as urban bus stations. The third is to continue to authorize provincial governments to decide independently to exempt, suspend or reduce taxes on local reservoir immigration support funds. The fourth is to exempt medical personnel and epidemic prevention workers from personal income tax on temporary subsidies, bonuses, and preventive medicines and other physical items issued to individuals by units. The fifth is to exempt university student apartments from property tax and related lease contract stamp taxes.

National Development and Reform Commission: Encourage platform companies to innovate and develop smart agriculture and promote digitalization in planting, animal husbandry, fishery and other fields

The National Development and Reform Commission and other departments issued the "On Promoting the Standardization and Healthy Sustainability of the Platform Economy" "Several Opinions on Development", which proposes to encourage platform companies to innovate and develop smart agriculture, promote the digitalization of planting, animal husbandry, fishery and other fields, improve the digitalization level of all links in the agricultural production, processing, sales, logistics and other industrial chains, and improve the quality traceability of agricultural products. The system helps achieve high quality and low prices for agricultural products through branding and traceability. Standardize the trading behavior of agricultural products and agricultural inputs of platform enterprises. The agricultural products and agricultural and veterinary drug residues purchased and sold must not exceed the standard. Agricultural inputs with substandard quality shall not be purchased or sold. Product quality and safety shall be effectively guaranteed, and the purchase and sale of organically certified agricultural products shall be supported. Guide platform enterprises to deploy in rural areas, accelerate the development of rural e-commerce, and promote "Internet+" agricultural products from villages to cities. We will further guide the platform economy to empower the development of "agriculture, rural areas and farmers", accelerate the construction of rural credit information systems, use digital means to innovate financial support for agriculture and rural areas, and cultivate new momentum for comprehensively promoting rural revitalization.

State-owned Assets Supervision and Administration Commission: There will be more than 890 mixed-ownership reform projects of central enterprises in 2021, and social capital will be introduced to exceed 380 billion yuan

On January 19, the Secretary-General of the State-owned Assets Supervision and Administration Commission of the State Council made a press statement According to Peng Huagang, in 2021, central enterprises implemented more than 890 mixed-ownership reform projects through market-oriented methods, and introduced more than 380 billion yuan of social capital. Up to now, central enterprises have invested more than 6,000 shares in foreign enterprises. Peng Huagang made it clear that mixed-ownership reform is an important part of the reform of state-owned enterprises, but it is not the whole of state-owned enterprise reform, nor is it the only way to reform state-owned enterprises. To carry out mixed ownership reform, we must adhere to the principle of "three causes, three appropriates, and three no", and follow the requirements of improving governance, strengthening incentives, highlighting the main business, and improving efficiency, and promote it in a classified and hierarchical manner. According to the functional positioning of the enterprise, it is necessary to promote mixed ownership reform. Conduct full research on feasibility and feasibility, and make changes when appropriate, so as to ensure the effectiveness of the reform, avoid blindness and confusion, and at the same time resolutely prevent the loss of state-owned assets.

(Investment consultant: Lin Xurui, practicing certificate number S0260615100004)

2. Market hot spots

Market comments: The market maintains a stock game, and it is recommended to be flexible in operation Rhythm Band Participation

On Wednesday, the major A-share indexes collectively experienced a shock correction. As of the close, the Shanghai Stock Exchange Index fell slightly by 0.33% to close at 3558.18 points; the Shenzhen Stock Exchange Component Index fell by 1.28% to close at 14207.19 points; the ChiNext Index It fell 2.17% to close at 3075.98 points. Market turnover reached 1.06 trillion yuan. Looking at the market, the media and entertainment, cement and building materials, and Internet services sectors were the top gainers, while the lithium batteries, wind power equipment, photovoltaic equipment, and aerospace sectors were the top losers. Industry sectors have shown mixed ups and downs. Overall, styles switch frequently, and the stock characteristics are still very obvious.

As far as the market outlook is concerned, whether the stock index can continue to rebound in the future still depends on incremental over-the-counter funds and the persistence of leading hot spots. It is expected that the market will continue to fluctuate slightly around the annual line. In terms of operation, it is recommended to flexibly grasp the rhythm and participate. In the short-term, it is recommended to focus on technology industries such as the Internet, software development and communications, and in the mid-term, continue to pay attention to investment opportunities in low-valued blue-chip stocks. There are risks in the stock market, so investment needs to be cautious.

(Investment consultant Gu Zhixiong’s registered investment consultant certificate number: S02606611020066)

Macro perspective: State-owned Assets Supervision and Administration Commission: will actively and steadily guide central enterprises to complete the restructuring work in accordance with laws and regulations

Event: Peng Huagang, spokesperson of the State-owned Assets Supervision and Administration Commission, said that this year we will combine the implementation of the relevant requirements of the "Opinions on Promoting the Optimization and Structural Adjustment of the State-owned Economic Layout in the New Era" with the implementation of the three-year action of state-owned enterprise reform, based on the principle of marketization , comply with laws and regulations, and actively and steadily guide central enterprises to complete the restructuring work.

Source: Securities Times Network

Comment: The continuous progress in the reorganization and integration of state-owned enterprises is the result of the implementation of the "Opinions on Promoting the Optimization and Structural Adjustment of the State-owned Economic Layout in the New Era" by state-owned central enterprises. It is an important step to strive to become stronger, better and bigger, and the news is generally good for the mixed ownership reform of central enterprises.

(Investment consultant Gu Zhixiong’s registered investment consultant certificate number: S02606611020066)

Banking industry: Steady progress in credit expansion and steady performance growth

Event: Steady credit expansion Advance and achieve steady growth in performance. This week, the central bank released financial data for December. Although credit still needs to be restored, the data also shows that the road to widening credit is steadily advancing. The growth rate of social financing has continued to pick up since stabilizing in October. The growth rate of M1 has picked up for two consecutive months, indicating that enterprises business activities are picking up. Combined with the objective requirements of important time nodes such as the Spring Festival and the Two Sessions in the first quarter, we expect that credit will soon stabilize and are optimistic about the good start of bank credit.

Source: Northeast Securities Research Report

Comment: Under the environment of stable growth, the liquidity environment and credit environment are improving, and bank credit will have a good start. On this basis, at the performance level, we are optimistic about the volume-based payment of credit; in terms of asset quality, the phased easing of real estate risks and the improvement of the credit environment will lead to the optimization of bank asset quality. Coupled with the current historical bottom valuation level of the banking sector and the catalysis of the good performance of many banks, we are optimistic about the valuation restoration of the banking sector.

(Investment consultant Gu Zhixiong registered investment consultant certificate number: S02606611020066)

3. New share subscription tips

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4. Recommendation of key stocks

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