Important economic agenda

1. 08:30 RBA announces minutes of February monetary policy meeting

2. 15:00 Swiss January trade account

3. 17:00 euro zone current account after December quarterly adjustment

4. 17:30 UK three-month ILO unemployment rate in December

5. 17:30 January unemployment rate and jobless claims in the UK

6. 18:00 ZEW economic climate index for Germany and the euro zone in February

7. 23:00 US February NAHB housing market index

Macroscopic

1、The CPC Central Committee and the State Council issued the outline of Guangdong-Hong Kong-Macau Greater Bay Area's Development Plan.And issued a circular requiring all localities and departments to conscientiously implement it in the light of reality. The full text consists of 27000 words and 11 chapters, which defines Guangdong-Hong Kong-Macau Greater Bay Area's program of cooperative development at present and for a period in the future.

2、The outline of Guangdong-Hong Kong-Macau Greater Bay Area's Development Plan proposes to gradually expand the scale and scope of cross-border use of RMB in the Greater Bay area, promote cross-border transactions of funds, insurance and other financial products in the Greater Bay area in an orderly manner, and constantly enrich investment product categories and investment channels. establish a mechanism for the exchange of funds and productsSupport Guangzhou to build a regional private equity market and a regional trading center for property rights and commodities; support Shenzhen to develop a capital market with the Shenzhen Stock Exchange as the core in accordance with regulations and accelerate financial opening up and innovation; support Hong Kong to build an internationally recognized green bond certification institution; support Hong Kong to build a green financial center in the Greater Bay area. We will support Guangzhou in building a pilot zone for green financial reform and innovation, study the establishment of an innovative futures exchange with carbon emissions as the first variety, support Macao in the development of leasing and other characteristic financial businesses, and support the construction of an insurance innovation and development pilot zone in Shenzhen.

3、Commentator People's Daily's article: building Guangdong-Hong Kong-Macau Greater Bay Area is a major plan based on the overall situation and long-term development.Promoting the construction of Guangdong-Hong Kong-Macau Greater Bay Area is conducive to the implementation of the new concept of development, provides support for the continuous enhancement of China's economic innovation and competitiveness, and is conducive to further deepening reform, opening wider to the outside world, and establishing a new open economic system in line with international standards. Build a new platform for high-level participation in international economic cooperation; the key to building Guangdong-Hong Kong-Macau Greater Bay Area lies in innovation.

4. In order to implement the decision and deployment of the CPC Central Committee and the State Council on implementing the strategy of promoting agriculture through quality, and to accelerate the development of high-quality agriculture, the Ministry of Agriculture and villages, the National Development and Reform Commission, the Ministry of Science and Technology, the Ministry of Finance, the Ministry of Commerce, the State Administration of Market Supervision and Administration, and the State Grain and material Reserve Bureau have formulated and issued the National Strategic Plan for promoting Agriculture through quality (2018-2022).

5、Ministry of Finance: 2019 is a key year to consolidate the achievements of internal control in the previous period and promote the transformation of internal control construction to "achieving results".It is necessary to promote the transformation of financial internal control from superficial promotion to key breakthroughs, and earnestly ensure that the internal control work can be seen in the real chapter and achieve results.

6. The New Energy Department of the National Energy Administration convened a forum for relevant enterprises.This year, there will be a major mechanism innovation in the construction and management of photovoltaic power generation in China: "keeping expenditure within the limits of income" to subsidize the rated installed capacity.Photovoltaic projects are clearly divided into projects that need state subsidies and those that do not need state subsidies; for the first time, household photovoltaic projects will be listed separately and given a separate scale, and fixed subsidies will be implemented.

7. Xiao Yaqing, director of SASAC, and Ren Hongbin, deputy director, went to Heilongjiang to investigate central enterprises.Xiao Yaqing stressed that it is necessary to take more concrete measures to promote enterprises to deepen reform, innovation and development, strengthen cooperation between the central and local governments, and make greater contributions to the all-round revitalization of the Northeast.

8. The data released by the Shanghai headquarters of the Central Bank of China show thatIn January, RMB loans in Shanghai increased by 153.9 billion yuan, and foreign currency loans increased by US $3.6 billion.RMB deposits increased by 209.8 billion yuan and foreign currency deposits increased by US $3.7 billion.

9. The central bank announced that in view of the increase in total liquidity driven by factors such as cash withdrawal, the reverse repurchase operation will not be carried out on February 18 in order to maintain reasonable and abundant liquidity in the banking system. Today, there is no reverse repurchase due, and there is no launch or return in the open market.

10. The front page of the Economic Information Daily said that after the Spring Festival, the capital market continued to improve and popularity began to pick up. At the same time, the real economy also showed more positive factors, which indicates that the pace of economic stabilization may be better than expected.Although the economy is still under pressure, more positive signs are emerging.

Domestic stock market

1、The three major A-share indexes closed short, and the Shanghai Composite Index closed up 2.68% at 2754.36 points.The Shenzhen Composite Index rose 3.95% to 8446.92 points, the gem Index rose 4.11% to 1413.6 points, and Wande Quan A rose 3.3%. The volume of the two cities traded 547.7 billion yuan, a new 10-and-a-half-month high.

2、Shenzhen Stock Exchange revised and issued guidelines on Product Development and Innovation Services of Shenzhen Stock Exchange FundAnd shall enter into force as of the date of promulgation. The revised guidelines stipulate that fund managers who intend to develop innovative products shall first put forward their intention to develop innovative products to the Shenzhen Stock Exchange; when applying for the development of innovative products, they shall submit a risk assessment report, which should indicate whether the product will cause systematic and regional risks.

3. Ying Yong, deputy secretary of the Shanghai Municipal CPC Committee and mayor, presided over a symposium on financial work research.Ying Yong pointed out that Shanghai will fully support and fully cooperate with the CSRC and the Shanghai Stock Exchange in the establishment of Science and Technology Innovation Board and the pilot registration system. It is necessary to give a good kick to the door and speed up the introduction of management measures and supporting business rules.Efforts should be made to cultivate a large number of high-quality listed resources, build an important investment and financing platform to serve scientific and technological enterprises across the country, resolutely hold the bottom line that regional systemic financial risks do not occur, and pay close attention to the impact of finance on real estate. We will resolutely maintain the stable and healthy development of the Shanghai real estate market.

4、The Hang Seng Index closed up 1.6% at 28347.01.The index of state-owned enterprises rose 1.94%, and the red chip index rose 1.34%. Daily turnover fell to HK $95.063 billion. Technology stocks and financial stocks rose collectively, "three barrels of oil" rose sharply, and Petrochina Company Limited rose 4.6 per cent, the biggest gain since September last year.

5. Sanquan Foods received a letter of concern from the Shenzhen Stock Exchange, asking for instructions on the time when the products involved were tested positive for African classical swine fever virus nucleic acid; up to now, the type, quantity, amount and follow-up treatment plan of the products that the company has been taken off the shelves.

6、The financing balance of A shares rose for five days in a row.. As of February 15, the financing balance of the Shanghai Stock Exchange was 449.452 billion yuan, an increase of 1.979 billion yuan over the previous trading day; the financing balance of the Shenzhen Stock Exchange was 282.922 billion yuan, an increase of 2.302 billion yuan over the previous trading day; and the two cities totaled 732.374 billion yuan, an increase of 4.281 billion yuan over the previous trading day.

7. Tencent responded to the suspension of the smart speaker project: on the product line of the smart speaker, after the release and launch of the new model Tinker Bell with screen speakers, it will continue to maintain the normal sales and service of the previously heard products. The Tinker Bell team will also deeply integrate the CSIG business, the ability to output full-stack voice artificial intelligence solutions to the industry, and the development of the Tinker Bell smart screen product line.

8. MSCI will announce on March 1st that the decision on whether to expand A-shares into the factor is approaching. According to some large foreign-funded institutions, it has replied to MSCI's consultation before the middle of February, expressing support for the decision to expand the inclusion of A-shares.However, some foreign institutions still have reservations about directly expanding the inclusion factor from 5% to 20% this year.. If the inclusion factor is not 20%, there may also be other flexible arrangements (such as moderately reducing the inclusion factor) without expanding the inclusion.

9、With the warmer A-share market, there are obvious signs of warming up in over-the-counter capital allocation. According to the websites of many capital allocation companies, the maximum leverage can reach 10 times at present.. At present, there are some new tricks in the operation mode of over-the-counter allocation, such as cash back, reduction of management fees and interest on capital allocation, as well as "allocation + individual stock recommendation" in addition to various preferential activities in the publicity strategy.

Finance

1. According to the Hong Kong Monetary Authority, individual e-wallets in Hong Kong have been piloted for cross-border use last year, andThe HKMA is working with relevant departments to explore ways to simplify the opening of bank accounts and cross-border wealth management by Hong Kong residents in the mainland.

2. According to the China Securities News, experts and people in the banking industry expectThe approval and establishment of bank financial management subsidiary will be faster than expected this year, and there will be a wave of business opening of bank financial management subsidiary in the second half of the year.. As a result of deeply ploughing the local economy and having a highly loyal customer base, it is a general trend for small and medium-sized banks with financial strength to set up financial subsidiaries.

3. According to the CSC, the size of structured deposits broke through the 10 trillion yuan mark in 2018, but fell back to 9.61 trillion yuan at the end of 2018. Experts believe that with the further clarification of the regulation of structured deposits in the future, many small and medium-sized banks will not be able to carry out this business because they do not have the qualification to trade derivatives.It is expected that the scale of structured deposits will not increase significantly in the future.。

Real estate market

1. According to the Economic Information Daily, since the New year in 2019, due to the Spring Festival off-season in the real estate market, the number of people who intend to return home has declined slightly compared with 2018, and the marketing performance of real estate enterprises is also relatively insipid. Project discount and marketing promotion efforts are not as strong as in previous years, coupled with the fact that the market demand of some third-and fourth-tier cities has been overdrawn.The overall turnover of the property market has declined since the New year.

Industry

1. China Automobile Association released data showingIn January, passenger car sales were 2.0211 million, down 17.71% from a year earlier, while car sales were 2.37 million, down 15.8% from a year earlier.In January, new energy vehicles grew rapidly compared with the same period last year, with production and sales of 91000 and 96000 vehicles respectively, up 113 percent and 138 percent respectively over the same period last year.

2. The front page of the Securities Daily said that investors must enhance their risk awareness, guard against the temptation of high interest rates, stay away from illegal fund-raising and protect their "money bags". Especially in the face of those high-yielding financial products, we must open our eyes and let more questions and research become a compulsory course in the process of investment.

International stock market

1、Us financial markets are closed because of the president's day off.The Canadian stock market was closed for the celebration of Family Day (Family Day).

2、Most of Europe's three major stock indexes fell.Germany's DAX index fell 0.01 per cent to 11299.2, France's CAC40 index rose 0.3 per cent to 5168.54, and the UK's FTSE 100 index fell 0.24 per cent to 7219.47.

3、Apple Inc reorganized its leadership to reprioritize its services, artificial intelligence, hardware and retail divisions to reduce reliance on iPhone phone sales.

4. Amazon.Com Inc said that although there is no second headquarters in Queens, New York.Recruitment will continue to deliver on the promise of 25000 new jobs in the region.

Japan's Honda is preparing to close its Swinton plant in the UK in 2022, which will cause 3500 people to lose their jobs.

6、So-young International Inc, a Chinese plastic surgery website in which Tencent has a stake, has secretly submitted an application for IPO in the United States.The company could raise about $300 million through the offering, which could go public as soon as the middle of this year.

Overseas

1、U.S. Commerce Secretary Ross has submitted a 232 investigation report on imported cars to Trump, which will provide advice on whether imported cars pose a threat to national security.The report allows President Trump to restrict imports under the pretext of threatening to "damage national security." Trump now has 90 days to decide whether to impose tariffs, which he will make by May 18.

2、European Commission Chief spokesman Cenas: the EU will give unagreed Brexit proposals on tariffs and indirect taxesThe European Union is implementing the trade statement between the European Union and the United States; if the United States imposes tariffs on cars imported into Europe, the European Union will immediately fight back.

3. European Central Bank Executive member Pratt: the economy may rebound, but it is too early to talk about the extent of the rebound; it is time to reach a positive agreement to end the uncertainty of Brexit.If the euro zone economy slows further, we can adjust the interest rate guidance, supplemented by other measures.The ECB has seen a sharp increase in risks to the economy.

4、European Commission President Jean-Claude Juncker: us President Donald Trump told me that there will be no tariffs on European cars at present.If US President Donald Trump does not keep his commitment to car tariffs, the EU will not stick to its commitment to buy soybeans and liquefied natural gas.

Merchandise

1、NYMEX crude oil futures closed up 0.86 per cent at $56.46 a barrel, up for five consecutive days and continuing to hit a three-month high.Recently released data show a decline in OPEC crude oil production, and Saudi Arabia is said to be cutting more crude oil production.

2、COMEX gold futures closed 0.57% higher at $1329.7 an ounce, rising for three consecutive days to a 10-month high.COMEX silver futures closed up 0.24% at $15.78 / oz.

3、Most base metals in London closed down.LME copper rose 1.18% to $6261 / ton, LME zinc fell 0.36% to $2643.5 / ton, LME nickel rose 0.52% to $12465 / ton, LME aluminum fell 0.27% to $1854 / ton, LME tin fell 0.21% to $21155 / tonne, and LME lead fell 2.31% to $2030 / tonne.

4、Most of the domestic commodity futures rose at night, and rubber rose nearly 4%.. Coke closed up 0.24%, while coking coal and thermal coal closed down 0.98% and 0.34% respectively. Iron ore closed up 0.71%. Rebar and hot rolled coil closed up 1.26% and 2.06% respectively. Rubber and asphalt closed up 3.75% and 0.69% respectively. The pulp closed up by 1.40%.

5、Li Zhengqiang said that it is necessary to speed up the listing of new tools and products and continue to expand the fields and means to serve the real economy.To quickly fill the gaps in exchange rate derivatives, expand new areas and new sectors such as shipping, list important commodity futures such as live pigs, and promote the normalization of the listing of option products, existing futures varieties have been listed on the relevant option products as soon as possible.

Bond

1、Treasury bond futures fluctuated after opening low, the decline widened after midday, and the 10-year main contract closed down 0.25%.The 5-year main contract fell 0.2%. The 2-year main contract fell 0.02%. The yield on the 10-year main interest rate bond rose by about 2-3bp, and the trading of current treasury bonds was generally light.

2、China Securities Pengyuan: Jinquanye expects to lose 250-280 million yuan in 2018Accounting for 48.64% of the net assets at the end of last year, 54.47%, so it was decided to add the long-term credit rating and the "16 Tianjin industry" credit rating to the credit rating watch list.

3、The demand for two additional issues of financial bonds issued by the Agricultural Development Bank is OK.The Agricultural Development Bank issued an additional three-year financial bond with a winning interest rate of 2.9712%, a multiple of 2.71, and a five-year winning interest rate of 3.273%, with a multiple of 2.32.

Foreign exchange; foreign exchange

1、The onshore renminbi closed at 6.7671 against the dollar at 16:30, its highest level since Feb. 13 and up 131bp from the previous session.The central parity rate of the RMB against the US dollar was reduced by 36 basis points to 6.7659.

2、The dollar index fell 0.1 per cent to 96.8060 for three consecutive days.The euro rose 0.14 percent to 1.131, sterling rose 0.28 percent to 1.2925, the Australian dollar fell 0.14 percent to 0.713, and the dollar rose 0.14 percent to 110.62 against the yen.