Daily Hit Song: Fei Yuqing - "Blue and White Porcelain"
► Meituan Research Institute: In the 2023 snow season, China's total consumption of winter sports tourism has increased by 132.5% compared to the same period in 2019. Harbin's consumption of winter sports tourism has increased by 207% year-on-year, while Shenyang and Changchun have increased by 186.8% and 139.5% respectively.
► IDC: In the fourth quarter of 2023, the shipment volume of smartphones in China is about 73.63 million units, a year-on-year increase of 1.2%, rebounding for the first time after 10 consecutive quarters of decline. The shipment volume of smartphones in China in 2023 is about 271 million units, a year-on-year decrease of 5%, reaching the lowest level in nearly 10 years. Among them, Honor's shipment volume ranks first in the domestic Android market.
► Tesla CEO Musk: Chinese car companies are the most competitive in the world, and they will also achieve extraordinary achievements outside of China. If there were no trade barriers, Chinese car companies could eliminate most of the other car companies in the world.
Macro Economy
1. China Banking and Insurance Regulatory Commission: Optimize the supply of personal pension-related financial products, continue to promote commercial pension financial pilot projects; do a good job in the reform and risk prevention of small and medium-sized banks, and strictly guard against large shareholders manipulating and internal control; treat different ownership enterprises equally and meet their reasonable financing needs; The proportion limit of foreign shareholding has been cancelled, and foreign capital can fully hold the equity of banks and insurance institutions.
2. CCTV News: China and Singapore have signed a visa-free agreement, which will officially take effect on February 9, 2024 (Lunar New Year's Eve). At that time, holders of ordinary passports from both sides can enter each other's countries without a visa for tourism, visiting relatives, business, and other personal affairs, with a stay of no more than 30 days.
3. China Securities News: The State-owned Enterprise Stock Asset Optimization and Upgrading Fund was established, with a total size of 40 billion yuan. It mainly invests in the infrastructure assets of state-owned enterprises with large scale and growth potential, as well as the phased inefficiencies and non-core and non-advantageous equities of state-owned holding listed companies, idle land of state-owned enterprises with development and utilization value, and state-owned enterprise patents and technologies.
4. National Health Commission: The current COVID-19 epidemic remains at a low level, while flu activity is showing a downward trend, and the proportion of influenza B is increasing recently. During the Spring Festival travel season, with more people moving and gathering, it is necessary to wear masks scientifically during the journey.
5. Ministry of Ecology and Environment: In 2023, the average proportion of good air quality days in 339 prefecture-level and above cities nationwide was 85.5%, an increase of 3.5 percentage points compared with the same period in 2019; the proportion of heavy and above pollution days on average was 1.6%; the average concentration of PM2.5 was 30 micrograms/cubic meter, an improvement of 16.7% compared with the same period in 2019.
6. United States: In the fourth quarter, the seasonally adjusted annual rate of GDP growth was 3.3%, the lowest since the second quarter of 2023, the forecast is 2.0%, and the previous value is 4.9%; the annualized quarterly rate of core PCE price index was 2.0%, the forecast is 2.0%, and the previous value is 2.0%.
7. European Central Bank: Maintaining three major interest rates unchanged, the main refinancing rate, marginal lending rate, and deposit facility rate are 4.5%, 4.75%, and 4% respectively.
8. Census and Statistics Department of the Hong Kong Special Administrative Region Government: In 2023, the overall value of goods exports in Hong Kong decreased by 7.8% year-on-year, and the value of goods imports decreased by 5.7%. The recorded merchandise trade deficit was 467.6 billion yuan, equivalent to 10.1% of the value of goods imports.
Real Estate News
1. China Banking and Insurance Regulatory Commission: Speed up the implementation and effectiveness of the urban real estate financing coordination mechanism; continue to guide and support banking institutions to increase credit lending; further optimize the down payment ratio, loan interest rates, and other individual housing loan policies; most of the 350 billion yuan "Guaranteed Building Completion" special loan has been invested in specific projects. As of now, the balance of development loans and personal housing loans is 12.3 trillion yuan and 38.3 trillion yuan, respectively. Among them, 3 trillion yuan and 6.4 trillion yuan were issued in 2023, totaling nearly 10 trillion yuan.
2. Xuzhou, Jiangsu Province: The deadline for the policy of selling old houses for new ones in the main urban area has been extended to December 31, 2024. Individuals (families) who participate in the old-for-new policy within the policy period and purchase newly-built residential properties with an area of 90 square meters or below will be subsidized by 0.8% of the contract price; those with an area above 90 square meters will be subsidized by 1.2% of the contract price.
Stock Market Review
1. On Thursday, the Shanghai Composite Index closed at 2906.12 points, up 3.03%, with a turnover of 437.68 billion yuan. The Shenzhen Component Index closed at 8856.22 points, up 2.00%, with a turnover of 453.75 billion yuan. The ChiNext Index closed at 1720.78 points, up 1.45%, with a turnover of 181.55 billion yuan. Overall, most stocks rose and fewer fell, with over 4800 stocks rising and over 100 stocks hitting the daily limit or rising more than 10%. The total turnover of the two markets was 891.5 billion yuan, an increase of 124.6 billion yuan compared with the previous trading day. On the plate, the financial industry, state-owned enterprises in Shanghai, real estate, and data elements are among the top gainers, while PEEK materials and a few other sectors declined. The net inflow of northbound funds was 6.29 billion yuan, of which the Shanghai-Hong Kong Stock Connect net inflow was 4.834 billion yuan, and the Shenzhen-Hong Kong Stock Connect net inflow was 1.459 billion yuan.
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