China's stock market opened slightly lower on Friday Resource stocks led the decline

Friday（5month27On the opening of the Chinese stock market, there was a slight decline, with the Shanghai Composite Index falling0.16%The Shenzhen Component Index fell0.28%. Industries such as non-ferrous metals, computers, and mining saw the largest decline, while defense and military industries rose against the trend. According to Jinhui Finance's live broadcast Fundamental NewsForeign exchange gold 1The Central Bank's Monetary Policy Analysis Group reports that it will continue to implement a prudent monetary policy in the coming monthsM2There may be a significant decrease in year-on-year growth rate;2015Since the middle of the year, the capital market has experienced two rapid declines. The central bank has taken timely measures to maintain the stability of the financial market and avoid the outbreak of systemic financial risks. Although this passive injection of liquidity to stabilize the market is helpless, there seems to be no better way. 2The relevant person in charge of the Ministry of Finance stated on the issue of government debt,2015The annual local government debt ratio is89.2%Below the internationally recognized warning value, the overall risk of local bonds is controllable; Overall, there is still some room for government debt to be borrowed, and the government can gradually increase leverage to support enterprises in gradually deleveraging; It is an important measure for the government to increase leverage in accordance with the law to appropriately increase the issuance scale of treasury bond and local government bonds. 3According to the Economic Reference News, the State owned Assets Supervision and Administration Commission (SASAC) has formulated opinions on piloting employee stock ownership in mixed ownership state-owned enterprises, which have been reviewed and approved by the State owned Enterprise Reform Leading Group of the State Council and submitted to relevant departments for approval. A state-owned asset official stated that the target of the pilot program is mixed ownership enterprises controlled by the state, and priority will be given to supporting technology-based enterprises to conduct employee stock ownership pilot programs. Central level enterprises will not conduct employee stock ownership pilot programs temporarily. 4Regulatory authorities may concentrate on clearing up market rumorsIPOA group of companies in the queue with smaller net profits and declining profitability have not received relevant regulatory information, and the credibility of this news is not high. There are clear provisions in relevant laws such as the Listing Standards Securities Law, and the China Securities Regulatory Commission has no right to adjust the listing threshold. However, some companies may withdraw their application materials if their profits undergo significant changes during the queuing process. 5Although the CSRC has clarified that there is no change in the policies of refinancing, M&A and reorganization, many investment bankers said that the review of fixed increase projects involving Internet finance, games and other industrial assets has indeed been tightened. 6Securities analysts say that,5The monthly increase in credit may slightly rebound, but it is affected by weak financing in the private sector and the replacement of local bonds,5The monthly credit addition is still weak, and the expected scale is8000RMB100mn-9000About 100 million yuan. With the optimization of the credit structure and the implementation of credit policies by the central bank, targeted policy tools will be used more frequently in the future.Continue reading:http://www.fxgold.com/news/zggs13018e0.html