Daily Golden Song: Huo Jianhua - "The Carefree Life"
► China Tourism Research Institute: It is predicted that the number of domestic tourists will reach 6.025 billion in 2024; the number of inbound and outbound tourists will exceed 264 million. The operation scale of the tourism market will shift from restoration to restoration of the supply chain, cash flow restoration to investment restoration, and domestic market restoration to inbound and outbound market restoration. The competition for content is more intense, and tourism has become another "battlefield to attract people."
► China Index Academy: According to estimates, the renovation of urban villages will drive an investment scale of approximately 1 billion square meters in the next five years, which will effectively support the real estate market. On average each year, there will be a demand for about 44 million square meters of new residential housing, accounting for 18% of the sales area of new residential housing in 22 cities in 2022. The renovation of urban villages will also have a substantial impact on investment, with a scale of about 10 trillion yuan.
► Securities Times: After four Shanghai and Shenzhen 300 ETFs with large-scale trading volumes broke through 18 billion and 17.6 billion in turnover, on January 18, 2024, the trading volume continued to expand, with the combined turnover of Huatai Bairui Shanghai and Shenzhen 300 ETFs, Jiashi Shanghai and Shenzhen 300 ETFs, Yifangda Shanghai and Shenzhen 300 ETFs, and Huaxia Shanghai and Shenzhen 300 ETFs reaching nearly 31.187 billion yuan.
Macro Economy
1. Premier Li Keqiang of the State Council: Signed the "Decision of the State Council on Amending Some Administrative Regulations and the Decisions of the State Council." Amending the "Regulations of the People's Bank of China on the Monetary Policy Committee of the People's Bank of China." The requirement of the China Banking and Insurance Regulatory Commission is no longer retained; amended the "Decision of the State Council on Implementing the Access Management of Financial Holding Companies." Changed the approval and regulatory body of financial holding companies from "People's Bank of China" to "China Banking and Insurance Regulatory Commission."
2. National Development and Reform Commission: In 2024, efforts will be made to improve residents' income expectations, enhance consumption capacity, and increase consumption willingness. Actively cultivate new consumption growth points such as smart homes, sporting events, and domestic "trendy products," promote bulk consumption of new energy vehicles, electronic products, etc., and promote the replacement of old consumer goods. Strengthen the formulation of standards in the service consumption fields such as culture and tourism, sports, and elderly care and housekeeping.
3. Rao Lixin, Deputy Director of the State Taxation Administration: The national tax system has cumulatively carried out policy precision pushing for more than 670 million households (people), improving the administrative efficiency of the entire process from "finding people for policies" to "implementing policies." In 2023, the cumulative amount of new tax reductions and fee cuts and tax refunds exceeded 2.2 trillion yuan nationwide, effectively helping stabilize market expectations and boost market confidence.
4. Immigration Management Bureau: In 2023, a total of 424 million people entered and exited the country throughout the year, an increase of 266.5% over the previous year; including 206 million mainland residents, 183 million Hong Kong, Macau, and Taiwan residents, and 35.478 million foreigners, with year-on-year increases of 218.7%, 292.8%, and 693.1%, respectively. A total of 23.461 million transportation vehicles for entry and exit were inspected, an increase of 143.4% year-on-year.
5. National Development and Reform Commission: Revised the national version of the negative list for foreign investment, comprehensively lifting restrictions on foreign investment in the manufacturing industry. Accelerate the introduction of comprehensive policies to attract and utilize foreign investment, through increasing support and protection policies, aligning with high-standard international economic and trade rules, and addressing difficulties and bottlenecks faced by foreign-funded enterprises.
Real Estate Developments
1. Securities Times: In December 2023, a total of 15,300 second-hand houses were traded in Shanghai, an increase of 9% month-on-month and 23% year-on-year; the transaction volume was 54.6 billion yuan, an increase of 16% month-on-month and 26% year-on-year. The transaction volume of second-hand houses in Shanghai has returned above the "boom-bust line." However, looking at the transactions and listing prices of Lianjia stores, as the transaction volume recedes from its high level, prices are still showing a downward trend. Therefore, the introduction of new policies has improved the sentiment of waiting, but the market remains rational.
2. Shenzhen Municipal Bureau of Housing and Urban-Rural Development: As of January 17, 2024, 19 commercial housing projects planned to enter the market in the first quarter of 2024 in Shenzhen, with an expected supply area of 1.175 million square meters, and 12,386 units, including 1.06 million square meters and 11,318 units of residential housing; 8,389 square meters and 60 units of serviced apartments; 88,000 square meters and 815 units of office space.
3. Shenzhen Price Appraisal and Monitoring Center: In 2023, the total number of residential transactions in Shenzhen was 64,389, an increase of 14.7% year-on-year; in terms of prices, the average transaction price of new residential buildings was 59,554 yuan per square meter, a decrease of 11.4% year-on-year, and the average transaction price of second-hand residential buildings was 63,386 yuan per square meter, a decrease of 15.4% year-on-year.
4. Guangzhou, Guangdong Province: Adjusted the standard for housing rental, increasing the base monthly rent for public housing from 4 yuan per square meter of usable area to 4.5 yuan per square meter of usable area. At the same time, expand the scope of eligible low-rent tenants, so that more residents can enjoy the preferential rent of 1 yuan per square meter of usable area.
5. Anhui Province: In 2024, the key work includes stabilizing and regulating the real estate market, adhering to differentiated policies based on different cities, establishing a new mechanism for the coordination of "people, houses, land, and money" elements, and meeting the demands for rigid and improved housing. Dispose of risks in housing enterprises prudently, establish a real estate financing coordination mechanism based on cities, and complete the delivery of all "delivery into the inventory" projects.
Stock Market Highlights
1. On Thursday, the Shanghai Composite
