Category: Flash News

On December 21st, the final LPR (Loan Market Quotation Rate) for 2024 was released. The People’s Bank of China authorizes the National Interbank Funding Center to announce that on December 20, the 1-year LPR was 3.1%, and the 5-year LPR was 3.6%. The quotations of the two maturity varieties remained unchanged. The Chief Economist of CITIC Securities clearly stated that the recent Central Economic Work Conference has set the tone for the next stage of monetary policy to be “moderately loose”, while also mentioning “timely interest rate cuts and reserve requirement ratio cuts”. There is still room for further LPR cuts. In addition, under the demand for optimizing the quality of LPR quotations, there may be significant room for unilateral downward adjustment of LPR. (Securities Daily)

On December 21st, the CSI A500 Index has shown strong growth momentum since its official release on September 23rd this year. According to data, as of December 20th, the size of 46 CSI A500 funds (only counting main shares) reached 323.628 billion yuan. If various types of shares are included, the number of fund products established around this index has reached 94 (counting different shares). Overall, the majority of the overall size of the CSI A500 fund is composed of ETFs. According to incomplete statistics from reporters, the size of 22 related ETF products reached 235.032 billion yuan, and ETFs from 10 public institutions including Guotai Fund Management Co., Ltd., Southern Fund Management Co., Ltd., and Guangfa Fund Management Co., Ltd. all exceeded 10 billion yuan in size. (Securities Daily)

On December 20th, the annual report released by the US Immigration and Customs Enforcement (ICE) on December 19th showed that a total of 271484 illegal immigrants were deported to nearly 200 countries and regions in the fiscal year 2024, the highest level since 2014. This report covers law enforcement actions in the United States from October 2023 to September 2024. The report points out that most of the repatriated individuals are those who illegally crossed the US Mexico border. (CCTV News)

On December 20th, accounting books are like a company’s “physical examination report”, while accounting firms are the “doctors” who diagnose and diagnose. As the end of the year approaches, the group of listed companies is once again experiencing a “stock exchange wave”. According to incomplete statistics, over a hundred A-share companies have disclosed the matter of changing their accounting firms since December. For the purpose of “changing offices”, most people indicate that it is implemented to further enhance the independence and objectivity of the company’s audit work, taking into account the company’s future business development and demand for audit services. Upon closer examination of the reasons behind it, the impact of the “qualification penalty” is still ongoing, and some companies have decided to “switch offices” after careful consideration due to the suspension of their original audit institutions; Some companies have undergone a “change of office” in accordance with regulations due to the original audit institution’s service exceeding the maximum audit service period stipulated by relevant regulations. But behind the surface, there are also some companies attempting to circumvent strict audit procedures by changing audit firms, or seeking more “friendly” audit opinions. For listed companies, changing accounting firms is a double-edged sword. Industry insiders analyze that on the one hand, regular changes can maintain the independence and objectivity of auditing, and avoid the “tacit understanding” that may arise from long-term cooperation and affect audit quality; On the other hand, frequent changes may also imply differences in accounting treatment or disclosure issues between the company and the original auditing firm, and may even be a case of “changing doctors” to cover up financial problems. (Shanghai Securities News)

① 07:30 Japan’s November core CPI annual rate; ② 09:00 China to December 20th one-year loan market quoted interest rate; ③ 15: November PPI monthly rate in Germany; ④ 15: 00 UK November seasonally adjusted retail sales monthly rate; ⑤ 19: 00 UK December CBI retail sales difference; ⑥ 20: 30 Federal Reserve Daley accepted an interview; ⑦ 21:30 Canadian October retail sales monthly rate; ⑧ 21:30 US November Core PCE Price Index Annual Rate, November Personal Expenditure Monthly Rate, November Core PCE Price Index Monthly Rate; ⑨ 23:00 Eurozone December Consumer Confidence Index Initial Value; ⑩ 23:00 Initial US December inflation rate expectations and December University of Michigan Consumer Confidence Index; ⑪ The total number of oil wells drilled in the United States for the week ending December 20th at 02:00 the next day.

On December 20th, the catering chain Small Vegetable Garden announced that the public offering of its Hong Kong IPO to retail investors received 1.44 times the subscription. The international allocation of shares received 1.29 times subscription. The company will issue approximately 101 million shares at a price of HKD 850 per share, raising HKD 860 million. The shares will be listed on the stock exchange on December 20th.

On December 20th, the British website Nature listed in a report on December 17th the scientific events worth paying attention to in 2025, including the launch of the European Spallation Neutron Source and the determination of the feasibility of a new supercollider to further reveal the mysteries of the universe; Launch a new type of satellite to monitor the Earth’s every move at high frequency and assist in disaster relief. In addition, China’s brain computer interface technology will also take it to the next level, with applications ranging from medical rehabilitation to virtual reality, fully demonstrating the principle of “technology makes life better”.

On December 20th, Beijing Mayor Yin Yong had a video conference with Su Boke, the global CEO of AstraZeneca, yesterday afternoon. Yin Yong said that he hopes AstraZeneca can make full use of the advantages of Beijing’s pharmaceutical basic research and industrial development, expand its research and development and industrial layout in Beijing, and strengthen research and development cooperation with local universities, research institutions, enterprises and other innovative entities. Subobo expressed its willingness to deeply cultivate the Beijing market, increase investment in research and development and production in Beijing, deepen cooperation with institutions in Beijing, and help Beijing build a pharmaceutical and health industry ecosystem. (Beijing Daily)

On December 20th, it was learned from the National Development and Reform Commission that the comprehensive service platform for the development of private economy has recently been officially launched and put into operation. The platform was built by specialized forces organized by the National Development and Reform Commission, further enriching the communication and exchange channels between government and enterprises. The comprehensive service platform for the development of private economy is installed on the portal website of the National Development and Reform Commission. It has set up seven first level columns, including policy guidance for enterprises, development situation and monitoring and evaluation, demands and suggestions, private investment development, financing docking and cooperation, learning and training, and experience exchange. It centrally displays and promotes policies and information related to private economy, integrates project promotion, bank enterprise docking, problem collection and resolution, and other functions.

On December 20th, CITIC Securities announced on its official website on December 19th that it will activate the T+0 trading restriction function disguised as securities lending on December 27th. On the same day, Shanxi Securities also announced that it plans to implement intraday revolving trading control measures for securities lending on December 23. According to incomplete analysis, in addition to the two mentioned above, securities firms such as CITIC Securities, Nanjing Securities, and Dongxing Securities have also issued relevant announcements. This move by securities firms aims to implement regulatory requirements for further optimizing the mechanism of securities lending business. The latest data shows that since September 25th, the proportion of securities lending balance to the circulating market value of A-shares has remained at 0.01% for a long time, which has shrunk 10 times compared to the beginning of the year and has had a relatively small impact on the market.