Xinhua Commentary: China's monetary policy has changed from "prudent" to "moderately loose" to send a positive signal. The commentary published by Xinhua News Agency on the 10th pointed out that the the Political Bureau of the Communist Party of China (CPC) Central Committee Conference held on the 9th analyzed and studied the economic work in 2025, in which the expression of monetary policy attracted people's attention. After a lapse of more than 10 years, the change of monetary policy orientation to "moderately loose" once again reflects the supportive monetary policy stance and sends a positive signal, which will strongly boost the confidence of all parties and help China's economy recover. The change of monetary policy is always closely related to a country's macroeconomic situation. This time, Politburo meeting of the Chinese Communist Party made it clear that the monetary policy will be "moderately loose" next year, not only because of the analysis and judgment of the current economic situation, but also because of the planning and consideration of the economic work next year. The timely adjustment of "loose is loose, tight is tight" will create a good monetary and financial environment for stable economic growth and high-quality development next year. From "steady" to "moderately loose", the change is the tightness of monetary policy, which is directly related to the blood of funds in the real economy. "Moderately loose" monetary policy means a reasonable money supply, a low interest rate and a relatively loose monetary and credit environment, which is conducive to further increasing financial support for key areas and weak links, guiding more funds to invest in scientific and technological innovation, people's livelihood consumption and other fields, promoting consumption and expanding investment, and better stimulating the endogenous motivation and innovation vitality of the whole society. From "steady" to "moderately loose", what remains unchanged is the supportive monetary policy stance. Since the beginning of this year, monetary policy has increased countercyclical adjustment in a timely manner. Although the tone of this year's monetary policy is "stable", on the whole, the monetary policy is flexible and moderate in implementation, and the market generally feels that China's monetary policy is in a stable and slightly loose state. The "moderately loose" monetary policy orientation next year can better reflect the "supportive" monetary policy stance. The combination of the two will further maintain a reasonable and sufficient liquidity, reduce the comprehensive financing cost of enterprises and residents, and provide financial support for the sustained economic recovery. At present, the expected change has become an important factor affecting the economic operation, and it is helpful to guide the expectation to make clear the monetary policy orientation next year in time. Externally, the international environment will become more complicated and severe next year; Internally, China's development faces many uncertainties and challenges. At this point, clarifying the monetary policy for next year, responding to market concerns, and releasing a clear signal will help promote China's sustained economic recovery. (Xinhua News Agency)Mao Geping opened 59.90% higher on the first day of listing, and Mao Geping opened 59.90% higher on the first day of listing. According to public information, the subscription for public offering of new shares of Hong Kong stocks in Mao Geping reached HK$ 173.814 billion, oversubscribed by 826.27 times, making it the "king of frozen capital" in the new stock market of Hong Kong stocks this year.A shares may have more upside! Core assets can be laid out with one click through the Shanghai and Shenzhen 300ETF South (159925). On December 10th, the Shanghai and Shenzhen 300ETF South (159925) closed up 0.83%, with a turnover of 115 million yuan. Component stocks rose strongly, with China Merchants Bank and Wuliangye rising by over 2%, and Kweichow Moutai, China Ping 'an and Zijin Mining rising by over 1%. China Merchants Securities said that at present, the expected returns of wealth management products and deposit interest rates are declining, the expected returns of various types of assets are declining, residents' deposits and net deposits are soaring, and residents' investment funds are greatly increased. In this state of asset shortage, if the profit-making effect of the follow-up equity market continues to improve and residents' deposits move to the equity market, theoretically, A shares will have greater upside. In terms of configuration, among the industries before and after the two important meetings in December, petroleum and petrochemical, food and beverage, household appliances, social services, medicine and biology, agriculture, forestry, animal husbandry and fishery are more likely to rise. You can use the Shanghai and Shenzhen 300ETF South (159925) to lay out the core assets with one click.
Huaxi Securities: In 2025, the rate of RRR cut and interest rate cut may not be lower than 50bp and 20bp. Huaxi Securities Research Report pointed out that this Politburo meeting revisited "moderately loose monetary policy", and the market inevitably associated with the magnificent combination of monetary and fiscal policies in 2008-2010. Specific to this round of monetary policy, it may be similar to it, not only the tone has changed, but also the framework has changed from the previous cross-cycle (or both cross-cycle and counter-cycle) to counter-cycle adjustment, which is likely to point to an increase in the adjustment range of reserve ratio and policy interest rate. Looking forward to 2025, the rate of single RRR cut and interest rate cut of monetary policy may not be lower than 50bp and 20bp (the rate in 2024), and the possibility of further increasing the rate in the face of extreme circumstances is not ruled out. The specific degree and duration of easing may depend on the economic situation.FTSE China A50 index futures rose 0.75% at the beginning, and closed up 0.84% in the last trading day and night.Mao Geping opened 59.90% higher on the first day of listing, and Mao Geping opened 59.90% higher on the first day of listing. According to public information, the subscription for public offering of new shares of Hong Kong stocks in Mao Geping reached HK$ 173.814 billion, oversubscribed by 826.27 times, making it the "king of frozen capital" in the new stock market of Hong Kong stocks this year.
Ren Hongbin, President of the China Council for the Promotion of International Trade, met with Lee Ka Chiu John, Chief Executive of the Hong Kong Special Administrative Region. On December 9, Ren Hongbin, President of the China Council for the Promotion of International Trade, met with Lee Ka Chiu John, Chief Executive of the Hong Kong Special Administrative Region. The two sides exchanged views on strengthening economic and trade exchanges between the mainland and Hong Kong, promoting the industrial and commercial circles of the two places to jointly build the "Belt and Road" with high quality, helping Guangdong-Hong Kong-Macao Greater Bay Area to develop with high quality, and jointly safeguarding the stability of the global industrial chain supply chain. The two sides indicated that they would make joint efforts to promote the second Guangdong-Hong Kong-Macao Greater Bay Area Development Business Conference to be held from December 11th to 12th to be a complete success.The Hang Seng Index of Hong Kong stocks opened higher by 3.21%, the index of state-owned enterprises rose by 3.46%, and the branch index rose by 4.24%.An Israeli military spokesman denied that the invasion of Syria had reached 25 kilometers from Damascus, saying that Israeli troops had not left the buffer zone.
Strategy guide
12-13
Strategy guide
12-13
Strategy guide
12-13