Top Ten Financial and Economic Topics in the "Two Sessions"

Abstract The discussion of house price-related housing prices is undoubtedly the most important financial hotspot of the two national conferences this year. In this year's government work report, Premier Wen Jiabao said that he will take measures to curb high housing prices. And around how to solve the high housing prices, the committee representatives also offer their own strategies: the introduction of property tax, land...

House prices The discussion of house prices is undoubtedly the most important financial hotspot of the two national conferences this year. In this year's government work report, Premier Wen Jiabao said that he will take measures to curb high housing prices. Around the how to solve the high housing prices, the committee members also offered their own strategies: the introduction of property tax, local land transfer fees to the central government and so on. Ordinary people are from the speeches of many provincial and municipal officials directly committing to take measures to curb high housing prices, and see the hope of future housing prices decline.
The international board The GEM was launched in October last year. The timetable for the launch of stock index futures and margin financing and securities lending has also been clear. So, when the international board was launched, it became the biggest suspense and focus topic of the capital market of the two universities.
The director of the board of directors was slightly injured, and held a press conference with the disease. He answered questions from reporters on a series of questions on the international board and confirmed the completion of the draft of the international board rules. At the moment when the innovation of many capital markets such as the GEM is settled, the topic of the international board will continue to heat up.
The appreciation of the renminbi from the government work report "maintaining the basic stability of the renminbi exchange rate at a reasonable and balanced level", to the statement of the People's Bank of China Governor Zhou Xiaochuan "returning from the unconventional policy to the conventional economic policy", The speculation that "the renminbi is about to appreciate" has once again surged during the two sessions.
However, from the attitude of government officials and the analysis of many representative members, stability will remain the main theme of the recent RMB exchange rate. In particular, the deputy governor of the People's Bank of China and the director of the State Administration of Foreign Exchange, Yi Gang, said that the appreciation of the renminbi was determined by the market, and it erased the space of imagination.
If the renminbi does not appreciate, it is still "going its own way and letting others say it."
Will credit take a tight monetary policy? Will the rate hike come soon? In this regard, the deputy governor of the central bank, Suning, refuted the monetary policy of “external looseness”, saying that raising the deposit reserve ratio does not mean that monetary policy is tightening. This year, a proactive fiscal policy and a moderately loose monetary policy will still be implemented.
This year is considered to be the most complicated year of macroeconomic regulation and control. There may be some new contradictions and new problems in economic development. Under such circumstances, the implementation of monetary policy should be more targeted and flexible, and the difficulty of total credit and rhythm. Especially big. Undoubtedly, the heat of the credit topic will not end, it will only heat up.
The concept of low-carbon and low-carbon has been thoroughly fired in this year's National Conference. The National Committee of the Chinese People's Political Consultative Conference has listed it as the "No. 1 Proposal." Under the background of changing the mode of economic growth, the low-carbon economy is worthy of expectation, and there is every reason to believe that a series of support policies around the low-carbon concept will be introduced in the future.
As a brand new thing, low carbon is the focus of the attention and discussion of the representatives and members of the National Committee of the two countries this year by virtue of its important mission. According to rough statistics, the proposals and proposals submitted by representatives and committee members at the National People's Congress this year accounted for about 10% of the total.
I sincerely hope that the low-carbon concept can be truly deeply rooted in the hearts of the people; the low-carbon economy can really grow and benefit the people.
Stock index futures During the two sessions this year, the biggest news in the securities market is undoubtedly the parties have confirmed that stock index futures will be launched in mid-April. More understanding of the insiders means that the "pre-production period" of the stock index futures is the April 19th after the settlement date.
As for the news that the Securities Times reporter has repeatedly contacted the Chairman of the China Securities Regulatory Commission, Shang Fulin and the general manager of the China National Capital Institute, Zhu Yuchen, it seems that the relevant departments are actively implementing the provisions of the stock index futures.
According to informed sources close to CICC, the total number of national stock index futures accounts is about 1,000. CICC clearly stated that it strictly enforces the appropriateness system of stock index futures investors, and requires that member companies cannot reduce their requirements due to the small number of initial accounts.
Income Distribution Premier Wen Jiabao stated in this year's government work report that it is necessary to promptly formulate policies and measures to adjust the pattern of national income distribution, gradually increase the proportion of household income in national income distribution, and increase the proportion of labor compensation in the initial distribution.
The three measures proposed by the Prime Minister are to increase the proportion of residents' income in the distribution of national income, strictly regulate the income of state-owned enterprises and financial institutions, especially executives, and gradually form an open, transparent, fair and reasonable income distribution order. The key. Increasing the proportion of wages in the initial distribution, raising the threshold for individual taxation or establishing a stable wage growth mechanism, etc., the actual operational difficulty is not too large, really touched the interests of the vested interests, or deprived of the monopoly group interests. The reform of income distribution is likely to enter a hard-hitting period this year.
Local financing platform The problem of local financing platform has continued to receive widespread attention this year due to financial risks and financial security. It has also become the most controversial financial topic in addition to the “renminbi appreciation” during the two sessions.
One party believes that the risk of local financing platforms is exaggerated and should not be demonized. The other side has come up with various data, saying that local radical financing has “kidnapped” banks and central finance.
It is necessary to prepare for the rainy days. In February of this year, the CBRC has asked commercial banks to open the existing “project packages” of the platform companies one by one, and to sort out the loans. At the same time, the new credit will be stopped for projects that have no capital and only rely on financial guarantees. During the two sessions, Zhou Xiaochuan, the governor of the central bank, also said that there are two types of local financing platforms worthy of attention: one is land-based collateral, and the valuation may be biased due to fluctuations in land prices; the other is urban government. A comprehensive repayment project.
IPO reform The reform of the IPO system is a major event that every participant in the Chinese capital market has to care about. In this context, Zhu Congxi, a member of the National Committee of the Chinese People's Political Consultative Conference and the assistant to the chairman of the China Securities Regulatory Commission, introduced the stock issuance, strengthened the responsibility mechanism of the inquiry object, strengthened the responsibility of the pricing link, over-represented the approval system, and shortened the lock-up of the offline placement shares. The reform ideas and other media exchanges.
More and more market participants realize that although specific measures still need to be considered, in any case, it is imperative to strengthen the responsibility mechanism of the inquiry object and the responsibility of the pricing link, and the market-oriented constraint mechanism will play an increasingly important role.
Fiscal deficit The fiscal deficit exceeded 1 trillion for the first time, which was announced by Premier Wen Jiabao in this year's government work report.
The expansion of the deficit and the increase in fiscal expenditure mean that the national finance is still in the “excessive days” this year, which requires the government to ensure that the deficit income is maximized and that fiscal expenditures are spent at a critical point.
In the context of the global economic recovery still facing some uncertainties, China’s deficit scale broke through the trillion-yuan mark for the first time, and first of all, it sends a strong signal that the active fiscal policy is not diminished.
Chinese officials have realized the need for a “sunshine” budget. Minister of Finance Xie Xuren said that it will continue to further strengthen the management of government debt, actively prevent and resolve potential financial risks, regulate local debt and its financing platform companies, and promote the sustained and healthy development of the financial economy.
 

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