Author: xjadmin

On March 31st, the reporter obtained confirmation from multiple state-owned banks, joint-stock banks, and city commercial banks that the head offices of several banks have issued internal notices to their branches: starting from April, the annualized interest rate of credit consumer loan products will be raised to no less than 3%. This means that after experiencing a new round of “price wars” since the beginning of the year, bank consumer loans will return to rationality. Several industry analysts have told Securities Times reporters that financial institutions should abandon their scale and speed complexes, and no longer simply pursue simple scale growth and market share. Instead, they should maintain loan interest rates at a reasonable level to enhance their business sustainability. (Securities Times)

On March 31st, state-owned banks made new progress in supplementing core tier one capital. On March 30th, Bank of China, China Construction Bank, Postal Savings Bank of China, and Bank of Communications collectively issued a notice on the plan to issue A-shares to specific targets. It is reported that the Ministry of Finance will subscribe to all newly issued shares of Bank of China and Construction Bank in cash, and take over 90% of the newly issued shares of Bank of Communications and Postal Savings Bank, with a total investment scale of 500 billion yuan. Industry insiders say that with the continuous release of capital injection efficiency by state-owned banks, China’s banking industry will inject financial vitality into the long-term high-quality development of the economy with stronger capital strength and better service quality and efficiency. (Securities Daily)

On March 31st, the China Securities Regulatory Commission issued the “Decision on Amending the Measures for the Administration of Securities Issuance and Underwriting” on March 28th, which will come into effect from the date of announcement. Subsequently, the Shanghai and Shenzhen stock exchanges released arrangements for optimizing the issuance and underwriting system, which were refined from the operational execution level. From the revised content, on the one hand, in accordance with the requirements of the Implementation Plan for Promoting the Entry of Medium – and Long Term Funds into the Market, bank wealth management and insurance asset management will be given the same policy treatment as public funds in participating in new stock subscriptions and private placements of listed companies; On the other hand, we will implement the “Eight Measures for Deepening the Reform of the Science and Technology Innovation Board to Serve Technological Innovation and the Development of New Quality Productivity” (hereinafter referred to as the “Eight Measures for the Science and Technology Innovation Board”), deepen the pilot of the issuance and underwriting system, and correspondingly increase the allocation ratio of offline investment institutions with higher lock up ratios and longer lock up periods for non-profit enterprises’ public offerings on the Science and Technology Innovation Board pilot. Industry insiders say that bank wealth management and insurance asset management are important components of medium – and long-term funds. This institutional reform is conducive to promoting more medium – and long-term funds to participate in stock issuance, bringing more incremental funds to the capital market, while encouraging more institutional investors to invest in the long term, optimizing the investment ecology of the capital market, and promoting the construction of a “long-term investment” institutional environment. (Securities Daily)

On March 30th, according to a notice issued by Myanmar’s meteorological and hydrological department on the 30th local time, a total of 33 aftershocks were reported as of the evening of the 30th after a strong earthquake struck central Myanmar on the 28th. The highest magnitude was 7.5 and the lowest was 2.8.

On March 30th, the Russian Ministry of Defense announced that the Russian military has taken control of the Zaporizhzhia settlement in the Donetsk region. On the same day, the Russian Ministry of Defense issued a statement saying, “Through successful military operations, the Russian military has taken control of the Zaporizhzhia settlement.” TASS reported, citing Russian military sources, that after taking control of the Zaporizhzhia settlement, the Russian military’s strongholds on the front line were able to expand. This will bring more tactical advantages to the Russian military.

On March 30th, Shen Xiaoming, Secretary of the Hunan Provincial Party Committee, stated that Hunan will thoroughly implement the important speech of General Secretary Xi Jinping at the symposium on private enterprises, make efforts to improve the accuracy and effectiveness of policy measures, and introduce practical and effective policy measures to enable private enterprises to enter the field lightly and develop freely. Further reduce the comprehensive operating costs of enterprises. This year, Hunan has carried out in-depth actions such as “providing policy solutions and excellent services” and “extending the industrial chain to the front line”, exploring a new “one-stop” mechanism for handling enterprise complaints and suggestions, and comprehensively using policies, finance, services and other means to help private enterprises reduce costs and increase efficiency. Create a more fair business environment. This year, Hunan has deepened the “one thing, one process” reform, promoted the digitization and transparency of the entire administrative approval process, and ensured that the quality and timeliness of processing can be traced and supervised; Utilize information technology such as big data to address implicit barriers to market access and other issues.

On March 30th, according to American media AXIOS, Trump said in an interview with NBC News that he was “very angry” with Russian President Putin and threatened to impose secondary tariffs on Russian oil if he believed that the failure to reach an agreement was “Russia’s fault”. Trump stated that tariffs on Russian oil will range from 25% to 50%. He said, “I was very angry when Putin started questioning Zelensky’s credibility and talking about the need for new leadership in Ukraine

On March 30th, the Cyberspace Administration of China held a national conference on network law enforcement and supervision, as well as a meeting of member units of the network law enforcement coordination mechanism, in Wuxi, Jiangsu on March 26th. The meeting emphasized the need to enhance the sense of responsibility and mission in doing a good job, adhere to the principle of standardized rectification first, and strengthen the main responsibility of the website platform and the responsibility of the local supervisor; Strictly crack down on serious illegal and irregular behaviors in accordance with the law, and continuously enhance the deterrence of online law enforcement. We must adhere to problem oriented, goal oriented, and effect oriented approaches, introduce practical and effective network law enforcement standards and norms, cultivate a network law enforcement team capable of fighting battles, build an efficient and complete network law enforcement supervision system, and continuously improve the comprehensive efficiency of network law enforcement.

On March 30th, Israeli Prime Minister Netanyahu stated at a government meeting that Israel is ready for the next stage of negotiations on the Gaza ceasefire agreement, but the Palestinian Islamic Resistance Movement (Hamas) must lay down its weapons. Netanyahu said Hamas claimed that Israel is not ready to enter the second phase of negotiations for a ceasefire agreement, “that’s not true, we’re ready. However, to achieve negotiations, Hamas needs to lay down its weapons, Israel will allow its leaders to leave the Gaza Strip, Israel will be responsible for the overall security of the Gaza Strip, and facilitate the implementation of the “voluntary relocation” plan proposed by US President Trump. On this basis, Israel is ready to engage in the second phase of negotiations at any time.

On March 30th, Qinshang Stock (002638. SZ) announced that shareholder Ruizhong Life Insurance plans to reduce its holdings of the company’s shares by no more than 14200956 shares through centralized bidding or block trading within three months after the announcement, which is no more than 1% of the total share capital after excluding the number of shares in the repurchase special securities account.