[Shenzhen Economic News]

"2024 Top 500 Chinese Brands Value" Released in Shenzhen, 36 Brands in Shenzhen

On May 9, at the 2024 Guangdong-Hong Kong-Macao Greater Bay Area Quality Brand Summit, the home event of the 8th "Shenzhen (Bay Area) International Brand Week", Brand Finance, a well-known international brand value evaluation consulting agency, and Shenzhen Federation of Industry exclusively released the "2024 Top 500 Chinese Brand Values" Chinese and English list, and made a detailed interpretation of the list. The reporter learned from the meeting that a total of 118 brands in the Guangdong-Hong Kong-Macao Greater Bay Area were on the list this year. Among the 36 brands on the list, Shenzhen has 15 "Shenzhen well-known brands" and 10 "international reputable brands". The top ten Shenzhen brands on the list include WeChat and Ping An of China.

"Red Ridge Venture Capital " The second instance of the illegal fund-raising case upheld the original verdict

On May 9, the Guangdong Higher People's Court made a final ruling on the illegal fund-raising case of Zhou Shiping, chairman of Hongling Venture Capital E-commerce Co., Ltd., and others, rejected the appeal and upheld the original judgment. On December 7, 2023, the Shenzhen Intermediate People's Court sentenced Zhou Shiping to life imprisonment, deprivation of political rights for life, and confiscation of all personal property for the crime of fund-raising fraud and illegal absorption of public deposits; the remaining 17 defendants were sentenced to fixed-term imprisonment. Eleven years to two years and six months, and a fine. After the verdict was pronounced in the first instance, Zhou Shiping and nine defendants appealed.

Shenzhen inbound tourism market hot

Shenzhen inbound tourism market hot. The reporter learned from the Shenzhen Municipal Bureau of Culture, Radio, Television, Tourism and Sports that during the May Day holiday, Shenzhen received 717000 inbound tourists, an increase of 20.50 percent over the same period last year, of which the number of inbound night trips increased by 46.6 percent over the same period last year. 636700 inbound one-day trips, an increase of 17.9 percent over the same period last year. According to statistics from Ctrip, during the "May 1st" period, inbound travel orders in Shenzhen increased by 29% year-on-year, and air ticket orders to Shenzhen increased by 22% year-on-year, making it one of the top ten popular cities for inbound travel in the country. At the same time, Shenzhen is also on the list of popular destinations for inbound tickets for the same journey.

Shenzhen Power Grid Construction Speeds Up Further

The reporter learned from the Shenzhen Power Supply Bureau of China Southern Power Grid yesterday that so far this year, the maximum load of Shenzhen Power Grid has exceeded 18.2 million kilowatts, an increase of 10.3 over the same period last year. It is expected that the maximum load this year will still exceed 20 million kilowatts. In the face of the early arrival of the summer peak of electricity consumption, the power grid construction of Shenzhen Power Supply Bureau has been further accelerated to ensure stable and reliable power supply during the peak summer period. It is reported that since the beginning of this year, Shenzhen Power Grid has completed and put into operation 9 substations, with an additional capacity of 2.6 million kVA, which is 140 percent of the same period last year. These new substations are located in Futian, Pingshan, Longgang, Longhua, Baoan and other districts, which can meet the new electricity demand in the region around the development of "20+8" industrial clusters.

Shenzhen launches auto trade-in subsidy campaign

In order to implement the national deployment of a new round of large-scale equipment renewal and consumer goods trade-in, Shenzhen has launched automobile "scrapping renewal" and "replacement renewal" subsidy activities to support automobile trade-in and promote consumption upgrading. In terms of scrapping and renewal subsidies, according to the notice issued by the Ministry of Commerce and other seven departments on the issuance of the detailed rules for the implementation of automobile trade-in subsidies, from April 24, 2024 to December 31, 2024, individual consumers will be scrapped fuel passenger cars with emission standards of country III and below or new energy passenger cars registered before April 30, 2018 (including the same day, the same below), and purchase new energy passenger cars or fuel passenger cars with displacement of 2.0 liters or less that are included in the "Catalogue of New Energy Vehicle Models for Vehicle Purchase Tax Reduction and Reduction" of the Ministry of Industry and Information Technology, and give a one-time fixed subsidy.

Shenzhen side meeting of the 2024 international commercial arbitration council meeting held in Qianhai

On May 9, at the end of the 26th International Commercial Arbitration Council (ICCA Congress) Hong Kong Conference, the ICCA 2024 Shenzhen Border Meeting (hereinafter referred to as "Shenzhen Border Meeting") was held in Qianhai, Shenzhen. With the theme of "the latest development of international arbitration in China", the Shenzhen side meeting focused on frontier and hot legal issues such as the convergence of rules and mechanisms for cross-border dispute resolution, and publicized the latest development of international arbitration in China to nearly 300 professionals from 36 countries and regions, as well as the market-oriented and legalized international business environment of Shenzhen pilot demonstration zone, Further enhance China's international influence and communication power.

Shenzhen cross-border data service achieves new breakthrough, first Malaysian data provider enters

Cross-border data flows are moving forward again. Reporters learned from Shenzhen Data Exchange (hereinafter referred to as Shenzhen Data Exchange) that after Hong Kong and Singapore, the first Malaysian data provider Wito Technology Sdn. Bhd (hereinafter referred to as "Wito Company") officially settled in Luohu and settled in Shenzhen Wittco Technology Co., Ltd., a 100-percent wholly-owned subsidiary, which has made new breakthroughs in cross-border data services and promoted international cooperation in cross-border data flow to a new level.

China-EU Logistics Robot Technical Exchange Meeting Held in Shenzhen

On May 8, the "China-Europe Logistics Robot Technology Exchange Conference" co-sponsored by Shenzhen Robot Association was held in Shenzhen Convention and Exhibition Center. Bi Yalei, secretary-general of Shenzhen Robotics Association, and many other industry experts and business executives attended.

Baoan Longhua Guangming Concentrated to Start 81 Projects

A few days ago, Shenzhen's new projects started in the second quarter of 2024 were held. Among them, Baoan Longhua Guangming has started 81 projects with a total investment of nearly 70 billion yuan, most of which are high-end intelligent manufacturing and livelihood projects. It is reported that there are 32 new projects started in Bao'an District, with a total investment of about 29.79 billion yuan and an annual planned investment of about 5.89 billion yuan. There are 23 projects in Longhua District, with a total investment of about 31.74 billion yuan and an annual planned investment of about 4.1 billion yuan.

Xili high-speed railway new town to start construction next month

the Xili high-speed railway new town, which has attracted much attention, is expected to start construction by the end of June. Yesterday, the "Do Work and Strive to See Nanshan First" Media Research Tour organized by the Propaganda Department of Nanshan District Committee entered the Xili High-speed Railway New Town Headquarters in Xili Street to learn about the planning and latest progress of Xili High-speed Railway New Town. Relevant officials introduced that as the first real TOD4.0 station city integration benchmarking project in China, the construction of Xili High-speed Railway New Town has entered the fast lane and will start next month.

HKU Youth Science and Technology College opened in Qianhai

A few days ago, the University of Hong Kong and the Qianhai Administration held the inauguration ceremony of the University of Hong Kong Youth Science and Technology College in Qianhai, Shenzhen. The Youth Innovation Institute of the University of Hong Kong aims to create an important space and platform for the University of Hong Kong and Hong Kong youth to innovate, start businesses and transform technology in the Greater Bay Area.

[deep enterprise dynamic]

Huawei: Huawei's "tashan battle" PC chip spare tire plan turned into false news

Huawei insiders responded that Huawei's "Tashan Battle" PC chip spare tire plan was turned into false news. It is reported that He Tingbo, chairman of Huawei Haisi Semiconductor, and Yu Chengdong, chairman of Terminal BG, have issued a "Letter to Comrades" internally, proposing that the spare tire plan for PC chips in the "Tashan Battle" will be officially confirmed. In this regard, Huawei insiders said that the news is false news.

* ST Meishang : Shenzhen Stock Exchange intends to decide to terminate the listing of the company's shares

* ST Meishang (300495) announced on the evening of May 9 that the company received the "Advance Notice" issued by the Shenzhen Stock Exchange. From April 8 to May 8, 2024, the company's 20 consecutive trading days The closing price of the stock was lower than 1 yuan, which touched the termination of the listing of stocks stipulated in Article 10.2.1, Paragraph 1, Item 2 of the "GEM Stock Listing Rules (Revised in 2024)". The Shenzhen Stock Exchange intends to decide to terminate the company's stock listing.

China merchants shekou : in April, the contracted sales amount was 18.623 billion yuan

China Merchants Shekou (001979) announced on the evening of May 9 that in April 2024, the company realized a contracted sales area of 910400 square meters and a contracted sales amount of about 18.623 billion yuan. From January to April 2024, the company achieved a total contracted sales area of 2.5763 million square meters and a total contracted sales amount of 58.831 billion yuan.

Yahuilong : to grant restricted stock 1.75 million shares to the incentive object

yahuilong (SH 688575) released a summary announcement of the 2024 restricted stock incentive plan (draft) on the evening of may 9. According to the announcement, the incentive plan involves a total of 56 incentive objects; the number of restricted shares to be granted to the incentive object is 1.75 million shares, accounting for about 0.31 of the total share capital of the company on the date of the announcement of the draft incentive plan; the grant price of restricted shares is 12.29 yuan per share, that is, after the grant conditions and attribution conditions are met, the incentive object can purchase the company's shares at the price of 12.29 yuan per share. This grant is a one-time grant with no reserved interest.

trust standard : "trust convertible bonds" will be converted from may 15

the letter test standard (SZ 300938, closing price: 35.76 yuan) announced on the evening of may 9 that the company's 0.545 billion yuan convertible corporate bonds will be listed on the Shenzhen stock exchange from November 29, 2023. the bonds are referred to as "letter test convertible bonds" and the bond code is "123231". Conversion period: from May 15, 2024 to November 8, 2029. Conversion price: 36.89 yuan/share.

[Domestic financial news]

The State Council issued the "Decision on Adjusting and Improving the Catalogue of Industrial Product Production License Management"

The State Council recently issued the Decision on Adjusting and Improving the Catalogue for the Administration of Production Licenses for Industrial Products. The "Decision" proposes to implement industrial product production license management for six products including cold-rolled ribbed steel bars, bottled liquefied petroleum gas regulators, steel wire ropes, plywood, blockboard, and safety helmets. After the adjustment, the implementation of industrial products production license management of a total of 14 categories of 27 varieties. At the same time, the examination and approval method of fertilizer production license is adjusted from informing commitment to "approval before certification.

Ministry of Commerce: China will take necessary measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises

Recently, the United States announced sanctions on nearly 300 entities and individuals, including 20 companies located in mainland China and Hong Kong, for "suspected support for Russia's military and energy development. The spokesperson of the Ministry of Commerce responded at a regular press conference held by the Ministry of Commerce on the 9th that China will take necessary measures to resolutely safeguard the legitimate rights and interests of Chinese companies.

Ministry of Commerce: car trade-in subsidies can be superimposed with new energy vehicle purchase tax relief and other benefits

The Ministry of Commerce introduced the "Rules for the Implementation of Auto Trade-in Subsidies. In the process of policy design and implementation, we should focus on the following aspects: first, we should make overall plans, treat domestic and foreign capital and "local and foreign" equally, and enjoy preferential policies for the purchase of new energy vehicles and fuel vehicles; second, we should make combined efforts to support all links in the whole chain of automobile consumption, The subsidy policy of car trade-in can be superimposed with new energy vehicle purchase tax reduction and exemption, car purchase financial credit support, and enterprise supporting preferential treatment; third, it is efficient and convenient to develop and build a national unified information service platform for car trade-in, so as to facilitate the masses to apply for subsidies for car scrapping and renewal.

State Administration of Financial Supervision and Administration: Cancel the restriction on the number of banks branches cooperating with insurance companies

The State Administration of Financial Supervision and Administration recently issued the Circular on matters related to the Agency Insurance Business of Commercial Banks to further deepen bancassurance cooperation, enrich the supply of insurance products and services, and meet the diversified insurance needs of consumers. The Notice proposes to remove the number of restrictions on cooperation between bank outlets and insurance companies. It is clear that commercial banks act as agents for Internet insurance business, telephone sales insurance business and other insurance business, and branches and outlets at all levels do not limit the number of cooperative insurance companies.

The State Administration of Financial Supervision and Administration issued guidance on the banking and insurance industry to do a good job in finance "five major articles"

According to the website of the State Administration of Financial Supervision and Administration, the State Administration of Financial Supervision and Administration issued guidance on the "five major articles" of the banking and insurance industry to do a good job in finance. Among them, it is proposed that in the next five years, a multi-level, wide-coverage, diversified, and sustainable "five big articles" service system for the banking and insurance industry will basically take shape, the relevant working mechanism will be more complete, the products will be richer, and the availability and coverage of services, Satisfaction has been greatly improved, which will effectively promote the development of new quality productivity. Relevant regulatory systems and supporting mechanisms have been further improved, the evaluation system has become more sound and effective, and policy synergy has been continuously enhanced.

General Administration of Customs: China's import and export of goods trade increased by 5.7 in the first four months

According to the statistics of the General Administration of Customs, in the first four months of this year, the total value of my country's import and export of goods trade was 13.81 trillion billion yuan, an increase of 5.7 percent year-on-year. Among them, exports of 7.81 trillion yuan, an increase of 4.9; imports of 6 trillion yuan, an increase of 6.8. In the month of April, imports and exports yuan 3.64 trillion, up 8%. Exports 2.08 trillion yuan, up 5.1 percent, and imports 1.56 trillion yuan, up 12.2 percent.

association of small and medium-sized enterprises: nearly 70% of enterprises with an operating rate of more than 75% in April

The China Association of Small and Medium Enterprises released on May 9 that the China Small and Medium Enterprises Development Index in April was 89.4, up 0.1 points from the previous month. In April, the proportion of enterprises with an operating rate of more than 75% accounted for nearly 70%, a significant increase from previous years. Overall, the current SME market is expected to improve and the willingness to invest remains stable.

Hangzhou housing and housing management bureau responded to the new policy of the real estate market: it cannot be one-sided understood as "settling down when buying a house"

on the afternoon of may 9, Hangzhou housing and housing bureau responded to the new policy of the real estate market. He Chenyu, deputy director of the Real Estate Development Department of the Hangzhou Housing and Housing Administration, said that it cannot be one-sidedly understood as "buying a house means settling down". In view of the current market and household registration management, within the existing framework of points settlement, it is proposed to significantly increase the weighting of self-owned housing. Follow-up will be subject to the relevant provisions of the implementation rules issued.

[International Financial News]

Fed officials: interest rates may remain high for longer

Susan Collins, president of the Federal Reserve Bank of Boston, said on the 8th that the Fed may keep the federal funds rate high for longer than expected to curb demand and reduce inflationary pressures.

US may ban Chinese connected cars from entering the US

U.S. Commerce Secretary Raimundo claimed that the United States may take "extreme measures to ban Chinese connected cars from entering the United States". This is the first sign that the United States may issue a ban on Chinese connected cars since the US government launched an investigation in February.

The Bank of England left its benchmark interest rate unchanged at 5.25 per cent for the sixth time in a row

On the 9th local time, the Bank of England decided to continue to maintain the benchmark interest rate at 5.25. This is the sixth consecutive time that the Bank of England has kept interest rates unchanged.

[Today's Trading Tips]

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Source: Read Chuang Financial Synthesis