Market Comments: The market has experienced heavy volume fluctuations after a continuous rebound, and investors should not chase the rise in the short term.

Key recommendations

Ministry of Commerce: The preferential measures for the expansion of CEPA will be first piloted in the Guangdong-Hong Kong-Macao Greater Bay Area

The executive meeting of the Shanghai Municipal Government decided to speed up Building Shanghai Financial Technology Center

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Market Comments

Market Comments: After a continuous rebound, the market has experienced heavy volume fluctuations, and investors should not chase the rise in the short term

New Energy Vehicles: The Ministry of Industry and Information Technology has recently publicly solicited opinions on the new energy vehicle industry planning

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Futures Information

Metal Energy: Gold 336.42, down 0.16; Copper 48720, up 1.44; rebar 3509, up 0.49; rubber 13240, down 0.19; PVC index 6585, up 0.77; Zheng Chun 2011, down 0.25; Shanghai aluminum 13980, up 0.72; Shanghai nickel 106240, down 0.34; iron ore 657.0 , up 2.42; coke 1932.5, up 1.42; coking coal 1244, down 0.24; crude oil 466.8, up 1.21;

Agricultural products: soybean oil 6418, up 0.44; corn 1895, down 0.16; palm oil 5972, up 1.25; Cotton 13230, down 0.19; Zhengmai 2399, up 0.08; Sugar 5496, up 0.96; Apple 8386, down 0.44;

Exchange rate: EUR/USD 1.1064, up 0.02; USD/RMB 7.0366, up 0.18; USD/HKD 7.8284, down 0.02.

(The above futures data come from Shanghai Futures Exchange, Dalian Commodity Exchange, Zhengzhou Commodity Exchange)

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New stock tips?

Jiabiyou, subscription code 787089, subscription price 23.90 yuan.

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Key recommendations

1. Ministry of Commerce: Take the lead in piloting the preferential measures to expand CEPA in the Guangdong-Hong Kong-Macao Greater Bay Area

The State Council Information Office held a press conference today on the "Guiding Opinions of the Central Committee of the Communist Party of China and the State Council on Promoting High-Quality Development of Trade." Ren Hongbin, Assistant Minister of Commerce, said that the preferential measures to expand CEPA's opening up will be the first to be piloted in the Guangdong-Hong Kong-Macao Greater Bay Area.

Ren Hongbin said that in order to actively support the construction of the Guangdong-Hong Kong-Macao Greater Bay Area and promote the implementation of the "Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area", the Ministry of Commerce took the lead in establishing the Economic and Trade Cooperation Committee between the Mainland and Hong Kong and Macao. The economic and trade task force for the construction of the Guangdong-Hong Kong-Macao Greater Bay Area conducted in-depth research on the efficient and convenient flow of elements in the Guangdong-Hong Kong-Macao Greater Bay Area and the promotion of trade and investment liberalization and facilitation among Guangdong, Hong Kong and Macao, and proposed the "On Supporting the Guangdong-Hong Kong-Macao Greater Bay Area in the Business Sector" "Opinions on Several Policies and Measures for Area Construction", taking the lead in piloting the preferential measures to expand CEPA's opening up in the Guangdong-Hong Kong-Macao Greater Bay Area, and promoting the comprehensive liberalization of service trade in the Greater Bay Area. Support the Guangdong Pilot Free Trade Zone in taking the lead in exploring the docking of economic and trade rules with Hong Kong and Macao, promote the improvement of institutional openness in the Guangdong-Hong Kong-Macao Greater Bay Area, and support Hong Kong and Macao in participating in the construction of market systems and consumption upgrades in the nine Pearl River Delta cities in the Greater Bay Area.

Ren Hongbin said that the "Opinions" contain 27 specific measures in six major areas, covering key areas such as consumption, circulation, trade, investment, and economic cooperation, and will become the basis for the business field to support the Guangdong-Hong Kong-Macao Greater Bay Area in the future. Policy guidelines for district construction.

Comment: Taking the lead in piloting the preferential measures to expand the opening up of CEPA in the Guangdong-Hong Kong-Macao Greater Bay Area is an important measure taken by the Ministry of Commerce to support the construction of the Guangdong-Hong Kong-Macao Greater Bay Area in the commercial field. December 20 marks the 20th anniversary of Macau’s return to China. It is expected that policies to support Macau’s better integration into the development of the Guangdong-Hong Kong-Macao Greater Bay Area will be introduced one after another. Individual stocks in the Zhuhai sector are expected to have opportunities for active performance.

(Investment consultant? Cai Jin? Registered investment consultant certificate number: S0260611090020)

2. The Shanghai Municipal Government Executive Meeting decided to accelerate the construction of Shanghai Financial Technology Center

Shanghai Municipal Party Committee Deputy Secretary and Mayor Ying Yong chaired a municipal government executive meeting on the 9th to study and formulate an implementation plan to accelerate the construction of Shanghai's financial technology center, promote the joint development of Shanghai's international financial center and science and technology innovation center; study and improve the intellectual property policy and regulation system , clarify relevant regulations and rules.

In order to implement the spirit of the "Shanghai International Financial Center Construction Action Plan (2018-2020)" and other documents jointly issued by the People's Bank of China and other eight departments, the relevant municipal departments have formulated the "On Accelerating the Promotion of Shanghai Fintech" The "Implementation Plan for the Construction of the Center" will create a technological research and development highland, innovative application highland, industrial agglomeration highland, talent gathering highland, industry standard formation highland and regulatory innovation pilot zone for financial technology.

The meeting agreed in principle with the "Implementation Plan" and pointed out that the construction of Shanghai Financial Technology Center is the new connotation, new opportunity and new driving force for the construction of Shanghai International Financial Center. It is an important step to implement the national strategy and promote Shanghai as an international financial center and An important focus for the joint development of science and technology innovation centers. Shanghai has relatively strong financial and technological capabilities and a good legal environment. It must seize the opportunity of the three new major tasks assigned to Shanghai by the central government and accelerate the promotion of a financial technology center in accordance with the deployment of the municipal party committee and municipal government and with the strong support of the national financial management department. construction, providing a strong starting point for the construction of an international financial center to achieve overtaking in corners. It is necessary to find the right focus, focus on new technologies such as big data, artificial intelligence, blockchain, and 5G, and promote the research and development and application of core financial technology technologies. It is necessary to provide timely policy supply, create a first-class financial technology development environment, promote financial technology regulatory innovation pilots, continuously optimize various payment and settlement services, and promote the agglomeration of financial technology industries.

Currently, Shanghai is accelerating the construction of an intellectual property center city in the Asia-Pacific region. Relevant departments in this city have formulated detailed work rules related to intellectual property rights.

The meeting pointed out that it is necessary to combine Shanghai's actual situation, strive to improve the intellectual property policy and regulation system, and strive to build an intellectual property protection and service system that adapts to development and is in line with international standards. It is necessary to rely on the Municipal Intellectual Property Joint Conference to establish a working mechanism, clarify work procedures, and further optimize the business environment.

Comment: Vigorously developing financial technology is an important direction and driving force for accelerating the construction of Shanghai as an international financial center in the new era. The executive meeting of the Shanghai Municipal Government pointed out that it is necessary to provide timely policy supply and create a first-class financial technology development environment. This will bring accelerated development opportunities to financial technology companies registered in Shanghai or with a high proportion of business revenue in the Shanghai region.

(Investment consultant? Cai Jin? Registered investment consultant certificate number: S0260611090020)

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Market comments

1. Market comments : After the continuous rebound, the market was heavy and volatile, and investors should not chase the rise in the short term

The market fluctuated weakly in the afternoon on Monday. The cement, steel and other cycles picked up, software stocks were collectively active, and the index opened slightly higher. After the opening, the index fell rapidly. The silver and gold sectors weakened, while the virtual reality sector strengthened one after another. The cement, wireless headsets, and semiconductor sectors were more active. Individual stocks were mixed, with an increase in the number of stocks hitting their limit. After that, the three major indexes began to fluctuate within a narrow range. Chinese software once drove domestic production The software sector strengthened rapidly, and the market had a good bullish atmosphere. The market fluctuated within a narrow range in the afternoon. The science and technology innovation sector rose collectively, driven by Huaxing Yuanchuang, while the three major indexes maintained a sideways and volatile trend, and the independent and controllable sectors were relatively strong. , individual stocks rose and fell, and funds began to wait and see cautiously. Towards the end of the trading session, the index continued to fluctuate. As of closing, the Shanghai Index rose 0.08, the Shenzhen Component Index fell 0.02, and the ChiNext Index fell 0.33. In terms of sector concepts, the steel and cement sectors led the gains, while the blood products sector led the declines. *** 1,836 stocks in the two cities rose, 36 stocks reached their daily limit, and 30 stocks excluding new stocks reached their daily limit; 1,629 stocks fell, and 4 stocks fell to their daily limit. The inflow of Shanghai Stock Connect was 3.115 billion, and the inflow of Shenzhen Stock Connect was 1.579 billion.

The market failed to extend the previous week's gains and fluctuated at high levels on Monday.

With the recent surge in technology stocks, many high-quality technology stocks have reached record highs. With the overall climax of the sector, hot spots are constantly being discovered and extended. At the same time, some funds today chose low-level cyclical sectors such as steel and cement to switch high and low, which is somewhat similar to the change in market rhythm at the end of November. Now that the year is approaching, the possibility of a vigorous market is low. As the time for the implementation of the first phase of the Sino-US agreement approaches, the market will become more cautious. However, the net inflow of northbound funds for 18 consecutive trading days shows that attitude is worth thinking about. At present, the market operability is still strong. However, due to the lack of incremental capital support and the approaching of critical time nodes, positions should not be overweight. Buy high-quality products at low prices and avoid chasing high prices.

(Investment consultant Zeng Zilei, registered investment consultant certificate number: S0260613090015)

2. New energy vehicles: The Ministry of Industry and Information Technology has recently publicly solicited opinions on the new energy vehicle industry planning.

Recently, the Ministry of Industry and Information Technology has publicly solicited opinions on the "New Energy Vehicle Industry Development Plan (2021-2035)" (Draft for Comment). The plan proposes that by 2025, the market competitiveness of new energy vehicles will be significantly improved, and key technologies such as power batteries, driving power, and vehicle operating systems will achieve major breakthroughs. New energy vehicles accounted for about 25% of new car sales, and intelligent connected vehicles accounted for 30% of new car sales.

Investment advisory comments: This move by the Ministry of Industry and Information Technology reflects that my country’s policy level is protecting the development of the new energy vehicle industry. Previously, affected by the decline in new energy vehicle subsidies, most new energy vehicle industry chain stocks have experienced significant adjustments. With the Ministry of Industry and Information Technology re-asserting its stance on new energy vehicles, and the recent announcements by overseas first-tier car companies on their vehicle electrification strategies, electrification has been significantly accelerating, and the new energy vehicle industry is expected to return to an upward turning point. Investors are recommended to pay attention to battery equipment leaders, new energy vehicle leaders, and core battery-related materials companies.

(Investment consultant Zeng Zilei registered investment consultant certificate number: S0260613090015)

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