I. Selected Financial News

The transaction area of newly-built commercial housing in key monitoring cities decreased by 51% compared with last year's Spring Festival

According to the monitoring of China Index Academy, the transaction area of newly-built commercial housing in key monitoring cities decreased by 51% compared with last year's Spring Festival during the Spring Festival of 2122 (October 31-February 6). Among them, driven by the transaction scale in Shanghai, the transaction scale of the first-line representative cities increased compared with last year's Spring Festival, and the second-line representative cities decreased by about 51% compared with last year's Spring Festival. Chen Wenjing, deputy research director of the Index Division of the Central Finger Research Institute, pointed out that in 2122, the property market in all parts of the country will "not close" during the Spring Festival, but under the overall market environment, the tide of returning home buyers in small and medium-sized cities is still relatively low, and in big cities, under the "celebrating the New Year on the spot", buyers are not active in buying homes, and the transaction scale continues to decline.

central bank: in October, 2122, it launched a standing loan facility for financial institutions * * * 2.35 billion yuan

In order to meet the temporary liquidity needs of financial institutions, in October, 2122, the People's Bank of China launched a standing loan facility for financial institutions * * 2.35 billion yuan, including 51 million yuan for overnight loans and 2.31 billion yuan for seven days. The convenient interest rate of standing loan has played the role of the upper limit of interest rate corridor, which is conducive to maintaining the smooth operation of money market interest rates. The convenient interest rates of standing loan for overnight, 7 days and 1 months are 2.95%, 3.11% and 3.45% respectively. The balance of standing loan facilities at the end of the period was 2.31 billion yuan.

xiong'an new area has over 211 key projects this year, with a total investment of over 711 billion yuan.

Over the past four years since its establishment, xiong'an new area has completed the compilation of the whole plan, started a large-scale relocation and resettlement work, and started to undertake the functional relief and large-scale development and construction of Beijing's non-capital, and the development of the new district has entered a new stage. By the end of 2121, a total of 177 key projects have been implemented, with a total investment of over 611 billion yuan. xiong'an new area has been able to undertake the relief of Beijing's non-capital functions. The relevant person in charge of xiong'an new area Management Committee said that this year, the new district will show the embryonic form of the city on the basis of the "four systems" of urban construction, and display the image of the city with key projects and landmark buildings as the starting point. More than 211 key projects will be arranged, with a total investment of over 711 billion yuan and an annual planned investment of over 211 billion yuan, which will promote the work of xiong'an new area with high quality, high standards and high efficiency.

central bank: the payment business during the Spring Festival holiday continued to grow

The monitoring data of the payment business during the Spring Festival holiday in p>2122 showed that the payment business in China continued to grow, helping the consumer market to develop steadily. Based on the data of major commercial banks, payment institutions and clearing institutions, during the Spring Festival of 2122 (from October 31 to February 6), the national non-cash payment business volume was 21.84 billion, amounting to 14.9 trillion yuan, up by 11.1% and 16.2% respectively over the same period of last year. During the Spring Festival, the public's payment business volume continued to grow in shopping, catering, travel, leisure and entertainment. Payment for shopping consumption has increased rapidly. The holiday economy superimposed on the Spring Festival promotion activities led to the steady growth of shopping consumption, and the amount paid by retail merchants increased by 22.9% compared with the same period of last year. Food and beverage consumption payment continues to be hot. During the Spring Festival, there was a strong demand for catering consumption such as family gatherings, and the amount paid by catering merchants increased by 29.6% compared with the same period of last year.

the policy "big red envelope" has come, and the basic floor of the New Third Board has risen sharply! The IPO year of Beijing Stock Exchange is expected to be

On the first day after the Spring Festival, the New Third Board market showed a tiger-like appearance, in which the market-making index at the basic level with the largest increase closed up by 2.58% and the index at the innovation level rose by 1.75%. Many people familiar with the New Third Board said that the national share transfer companies distributed "big red envelopes" years ago, and more new third board quality companies are expected to enter the North Stock Exchange. The long-term development of the Beijing Stock Exchange is worth looking forward to, and the Year of the Tiger is expected to become the IPO year of the Beijing Stock Exchange.

(investment consultant: Lin Xurui, practicing certificateNo. S126161511114)

Second, focus on market hotspots

Market comments: the first trading day of the Year of the Tiger ushered in a good start

On the first trading day of the Year of the Tiger, the three major A-share indexes opened higher, and all the day went out of the collective rise that everyone expected, with the Shanghai Composite Index rising by 2.13% and the Shenzhen Composite Index rising by 1.96%. The market turnover exceeded 823 billion yuan, and most of the industry sectors rose, including oil, building materials, steel and coal, with a net purchase of 5.5 billion yuan from northbound funds throughout the day; Although the all-day index is very strong, from the structural point of view, IT is basically based on traditional industries and cyclical categories, and the track varieties with high prosperity are generally performing, while the IT equipment, brewing, semiconductors and other sectors are relatively weak, because investors are still worried about the weak economy. There is still a strong wait-and-see mood about the policy stimulus and the specific implementation details of monetary policy, and the market turnover has not been significantly enlarged. And the very restrained trading activity, we can see the hesitation of the market, the impact of subsequent external international geopolitical changes, the impact of global epidemic prevention and control on entities, and the slowdown of domestic economic growth are all provoking the sensitive nerves of the market. It still takes some time to observe the direction of the market outlook. Controlling positions and static braking are good operating ideas. The stock market is risky, so you need to be cautious in investing.

(investment consultant Gu Zhixiong registered investment consultant certificate number: S12616611121166)

Macro view: In October 2122, the purchasing managers' index (PMI) of China manufacturing industry was 51.1%

Event: In October, the purchasing managers' index of China manufacturing industry was 51.1%, down 1.2 percentage points from last month, higher than that of last month. From the perspective of enterprise scale, the PMI of large enterprises was 51.6%, up 1.3 percentage points from last month, higher than the critical point; The PMI of medium-sized enterprises was 51.5%, down 1.8 percentage points from last month and above the critical point; The PMI of small enterprises was 46.1%, down 1.5 percentage points from last month and below the critical point.

Source: website of the National Bureau of Statistics

Comments: PMI was 51.1, down 1.2 point from the previous month. In addition, we saw that Caixin PMI was 49.1 in October, the lowest since March 2121. If we look back on the economic rhythm since the beginning of 2121 with the China Manufacturing Purchasing Managers Index (PMI) as the coordinate, it will wander in the first quarter and gradually decline in the second quarter; In the third quarter, the impact of power cuts and production restrictions was superimposed, and it fell back to the low boom range below 51; After the supply constraints were removed, the boom rebounded slightly in 2111-12. It fell again in October, proving that demand has once again become a key issue in the short-term economy, and the strength of follow-up policies will affect investor sentiment and market expectations.

(investment consultant Gu Zhixiong registered investment consultant certificate number: S12616611121166)

Iron and steel industry: The Ministry of Industry and Information Technology and other three departments issued the Guiding Opinions on Promoting the High-quality Development of Iron and Steel Industry

Event: The Ministry of Industry and Information Technology and other three departments issued the Guiding Opinions on Promoting the High-quality Development of Iron and Steel Industry, proposing to promote the merger and reorganization of enterprises. Encourage leading enterprises in the industry to implement mergers and acquisitions and build a number of world-class super-large iron and steel enterprise groups. Relying on the dominant enterprises in the industry, we will cultivate 1-2 specialized pilot enterprises in the fields of stainless steel, special steel, seamless steel pipe and cast pipe respectively. Encourage cross-regional and cross-ownership mergers and acquisitions of iron and steel enterprises, change the "small scattered" situation of iron and steel industry in some areas, and enhance the endogenous motivation of enterprise development. Orderly guide independent hot rolling and coking enterprises in Beijing, Tianjin and Hebei and surrounding areas to participate in the merger and reorganization of iron and steel enterprises. Give policy support for capacity replacement when building smelting projects for enterprises that have completed substantive mergers and acquisitions. Encourage financial institutions to actively provide comprehensive financial services to iron and steel enterprises that implement mergers and acquisitions, layout adjustment, transformation and upgrading in accordance with the principles of controllable risks and sustainable business.

Source: website of the Ministry of Industry and Information Technology

Comments: The release of this guidance shows that the management has resolutely implemented the supply-side reform, and the attention paid to the sub-sectors such as stainless steel, special steel, seamless steel pipe and cast pipe fully reflects the accuracy of the policy. Changing the scattered competition situation in the steel industry and enhancing the international competitiveness will form a long-term substantial benefit for listed leading steel enterprises. The policy support will focus on the industry from a longer dimension and escort high-quality development. Investors,

(investment consultant Gu Zhixiong registered investment consultant certificate number: S12616611121166)

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IV. Recommendation of key stocks

Please refer to the full edition of Early View (customized monthly path: discovery- Single customized path: discovery-gold medal identification-early view)