acriminalwasteofspace

[2023] Intermediaries need work harder to return positions & fulfill responsibilities

Thu, 16 Feb 2023 13:20:09 +0800

This not only demonstrates that regulators follow a "zero tolerance" policy and are strictly responding to violations of various laws and regulations in accordance with the law, but also demonstrates the disadvantages between intermediaries as "gatekeepers". in the capital market.

At the same time, with the deepening changes in the economic and financial environment and the comprehensive deepening of capital market reform, intermediary institutions link the two areas of capital market investment and financing. Their responsibilities are not only operational and capital market efficiency, but also to prevent risks. The implementation of the entire chain and capital funds is an important focus for quality market development. To this end, the regulatory authorities are continuously working to unify the responsibilities of intermediaries, inform intermediaries of relevant sanctions cases, strengthen accountability, improve job performance, and create a sound and sustainable development environment. I'm trying. . .

Indeed, as part of a series of systematic institutional innovations, the common practice of coordinating bodies has undergone significant changes. At the same time, regulators are constantly improving practical requirements to enable intermediaries to recover and fulfill their obligations. Since last year, regulatory authorities have been demanding guidelines and revisions on soundness supervision of intermediaries, bond trading order, securities company business rules, and bond trading order evaluation methods. Participation of investment banking businesses and law firms in the development of intermediary business practices Clarifies intermediary responsibilities and enables intermediaries to fully perform their properties and functions in a context where relevant laws and regulations are more comprehensive.

After years of development, our country's capital market has achieved many achievements in terms of market size, market structure and market function. Brokers must show more initiative in adapting to new requirements, ensuring the quality and efficiency of their work and continuously improving their ability to serve the capital markets and the real economy. Currently, the vast majority of arbitration institutions and their staff are able to fulfill their obligations, but a percentage of violations of laws and regulations is still observed. For example, basic due diligence tasks have not been performed as planned, abnormal circumstances such as production shutdowns at a company's important manufacturing plants have not been detected, or professional suspicion of business information indicative of fraud and misrepresentation has not been maintained. didn't . The record has been released. Even individual doctors seriously violate the rules of practice and want to get a "stamp" or become a "partner" in fraud.

In addition to the continuous optimization of the institutional system of relevant departments and the continuous improvement of intermediary institutions, intermediary institutions must strengthen the industry's self-discipline, focus on key risk areas, and focus on building a strong defense line. , improve internal controls. Reduces the chance of system and "source" errors. Establish the basic industrial culture concept of "compliance, integrity, professionalism and stability", promoting the in-depth integration of culture construction and business development. At the same time, it is necessary to further improve the professional skills of employees, emphasize the cultivation of professional talents, strengthen commercial research, and increase the level of complex services in a complex way.

[acriminalwasteofspace 2023] The opening up of the capital market has achieved many results

Thu, 16 Feb 2023 13:15:58 +0800

Statistics show that over the past year, 52 "A" listed companies have made significant progress in issuing GDRs. Ten of these have been successfully registered in Europe through the GDR, with a total funding amount of $3.894 billion. At the same time, companies that are "in the process" are also frequently updating progress bars for IPOs in Europe.

Listed A-share companies went abroad to issue GDR one after another. This is inextricably linked with the expansion and optimization of our country's domestic and foreign capital market linkage mechanisms. This is one of Korea's practical measures to deepen capital market reform and promote high-quality institutional opening of the capital market.

Promoting opening up through reform and promoting development through opening up is an established way of opening up the capital market in both directions. In recent years, the high level of institutional opening of our country's capital markets has continued with frequent actions, strong signals and many achievements. in industry; Numerous measures have been taken to expand investment and cross-border financing. Channel and market opening continues to deepen. The international product system has taken steady steps to continuously enrich and open products. Bilateral and multilateral exchanges and dialogues have been strengthened, and cross-border regulatory cooperation has made significant progress...

Through these gradual measures, Korea's capital market has created a new situation of cooperation and win-win, took a new step in opening up to the outside world, and showed a new atmosphere, attracting global investors and financial institutions to attract capital. Accelerate the development and expansion of the Chinese market through "confidence vote", and increase investment in China will bring more sources of "living water" to the market and contribute to the development of the real economy.

At the same time, the participation of prominent international institutions is conducive to improving market mechanisms and improving market maturity, and plays a role in guiding and shaping long-term and valuable investment concepts. This is an essential requirement for building a quality capital market.

A dynamic and stable capital market must be an open, inclusive and mutually beneficial cooperative and co-developed market. The 2023 China Securities Regulatory Commission System Work Conference held a few days ago proposes to expand this year's work to promote institutional opening up of capital markets and deepen ties with overseas markets. As the opening of high-level institutions continues to progress, insisting on deep redesign and deepening reform, it can be expected that there will be more measures to continuously improve the vitality and international competitiveness of China's capital market. It will develop with high quality to better serve our country's economy.

[2023] Survey: Savings, consumption, and investment are the three major "returns"

Thu, 16 Feb 2023 13:15:14 +0800

According to the '2022 Corporate Reward Report' released after surveying 504 companies by CIIC Consulting, 74% of all companies plan to pay year-end bonuses in 2022, equivalent to 1.8 times the employee's monthly salary. The amount and 21,900 yuan per person are rather low, and in 2021, 23,700 yuan, the average of tier 1 cities is 28,300 yuan, leading all regions. According to Manpower Group's '2022 Annual Performance Survey (based on year-end bonus performance)', the average year-end bonus for employees in 10 industries, including high-tech, finance, and service industries, is about 10 million won. 22,000 yuan, of which technology, medicine and financial industries are among the top three.

As a result of randomly surveying about 100 people through an anonymous survey, the reporter found that savings, consumption, and investment are the three 'rewards' of the year-end awards ceremony. Among them, the choice of saving was about 43%, and the choice of consumption was about 34%. In terms of consumption, cultural tourism products such as tourism accounted for a relatively large share, and in terms of funds, funds and gold took second place.

Mr. Li, who lives in Dongcheng District, Beijing, told the Securities Daily: "My year-end bonus has already arrived before the Chinese New Year. It is almost 50,000 yuan. My current plan is consumption. I have saved money for three years. I want to travel. .Use your vacation well and go out more.”

Only 26 years old, Mr. Wu currently works for a major Internet company in Beijing. He told reporters that this year's total prize money is mainly divided into three parts. One part was used to buy large quantities of medical products and health checkup equipment during the Chinese New Year, mainly for hometown parents. Another part is set aside to "fund" his travels, and he plans to use his annual leave to travel in the summer. The last part is choosing to invest and manage your money.

The reporter revealed that there are many opinions that he should carefully plan not only consumption, but also how to spend year-end bonuses on investment.

Mr. Zhang works in a central factory and turns 42 this year. Regarding how to use the year-end bonus, he told reporters, "My child is in elementary school, and this year's year-end bonus was accumulated as a child's 'raising fund'. I chose 10 things. -Payment products." Annual, and child repayments are guaranteed to start when the child turns 25. The wife's year-end bonus is allocated for the family's living expenses and placed in short-term and open-ended financial management. funds".

Recently, many insurance companies are afraid of the opportunity to throw out advertisements such as "Pension adjustment is urgent compared to the extended retirement table" and "This extended life span is appropriate because income is high at 3,499%." Advertisements such as “To save money for office workers” and “You must see the year-end bonus, special fund for children, and customized education pension” appeared frequently among acquaintances, and many respondents accepted the recommendation and joined the pension product.

Zhang, from Tianjin, told reporters that he used his year-end bonus for deposit annuity insurance this year, and this is the second time he has paid out the bonus.

[acriminalwasteofspace 2023] Credit achieved a "good start" in January

Thu, 16 Feb 2023 13:14:20 +0800

Financial data for January released by the central bank show that debt is off to a "good start". According to the report, the broad currency balance (M2) at the end of January was 273.81 trillion yuan, an increase of 12.6% over the same period last year, which exceeded market expectations and previous value. RMB loans increased by 4.9 trillion yuan in January, up 922.7 billion yuan from a year ago. As of the end of January, the social finance scale reserve increased by 9.4% compared to the same period last year. solstice. over the past 10 years.

In general, credit data and social finance data maintain good growth trends. What is expressed behind it is that since the beginning of the year, in the atmosphere of economic struggle from top to bottom across the country, precise measures and efforts have been taken to provide strong financial support to the local economy. As the real economy continues to grow thanks to financial soundness, market confidence is gradually improving.

The first quarter is generally considered the economic weather for the entire year. In early January of this year, the People's Bank of China and China Banking Insurance Regulatory Commission jointly held a symposium on the credit performance of major banks, clearly urging major banks to try to understand the pace of credit expansion wisely. Stable, improve credit structure, accurate and strong support for national economic and social development, major directions and weaknesses.

In recent years, credit support for key industries and vulnerable sectors of the real economy has been increasing, and the People's Bank of China is actively supporting it by providing special means of credit support such as technological innovation, transportation and logistics, and facility renewal. The effective needs of the production and service sectors, fully play the financial role of the policy, build supporting infrastructure and large-scale projects, and organize more physical work. Strong credit support has accelerated various economic stabilization measures, contributing to the development of the real economy.

The author believes that the "first meeting" of the Chinese New Year sent a signal that "the beginning of the year is the beginning of work, and the beginning of work requires hard work" in many parts of the country. target. It is worth emphasizing that the policy is in progress and contributes to the formation of a greater burden of manual labor, providing and striving. The economy opened steadily in the first quarter of this year.

Looking at the financial data for January, we can see that mid- to long-term lending to companies has increased. This indicates that companies' willingness to lend is rising and the financing needs of the real economy are growing. Data showed that 4.9 trillion yuan was added to credit in January, an increase of 922.7 billion yuan compared to a year ago. Of this, 4.68 trillion yuan came from the business sector, and new loans in January were 4.68 trillion yuan, up 1.32 trillion yuan from last year. Among them, medium and long-term loans increased by 3.5 trillion yuan, up 1.4 trillion yuan from a year ago, and short-term loans by 1.51 trillion yuan, or 500 billion yuan.

Data also showed that the manufacturing purchasing managers' index (PMI) returned to the expansion zone at 50.1% in January, both supply and demand improved, business confidence increased significantly, and the prosperity level of the manufacturing industry also increased significantly. .

The increase in medium- and long-term loans to enterprises shows that a series of policies and additional measures to help businesses recover and stabilize the economy remain in effect, and large-scale projects have increased. It laid the foundation for steady growth and economic development of medium- and long-term loans to enterprises and built a solid foundation.

[2023] Market activity increased in the first week of market-making trading

Thu, 16 Feb 2023 13:13:24 +0800

On February 10, the China Securities Regulatory Commission held the 2023 Bonds Supervision Working Meeting and proposed six "comprehensive deepening" to study and expand the main functions of bond supervision this year. Due to the pandemic and other factors, the volume of funding in the currency bond market has declined in the past year. Industry insiders generally expect the amount of funding in the ETF market to increase this year, with regulators standardizing activity in the bond market and the rapid development of REITs public offerings and national strategies. .

“The bond market is an important part in increasing the proportion of direct financing. Although the size of the Korean bond market has been expanding in recent years, compared to the strategic goal of increasing the proportion of direct financing, especially compared to the actual financing needs of most companies, There is still a lot of room for growth." Huensong said that he expects the size of the bond market to expand reasonably this year and the service capacity of the real economy to be effectively improved. We will further deepen the reorganization of the stock exchange bond market registration system, and this year, we will strive in the direction of system integration, examination exemption, and standard operation to enhance the stability and stability of the market.

At the same time, regulators continue to support key industries. According to Mingming, this year, the bond market will focus on key areas such as advanced manufacturing, digital, green and low-carbon economy, better perform direct financing functions, and expand financial scale with a focus on real economy services. . In addition, regulators are enriching and improving the product system of the bond market and actively developing various types of bonds, including REITs.

According to the reporter's analysis, in terms of specific types of bonds, there were 19 green bonds among the bonds on the exchange this year, raising a total of 15.076 billion yuan. 4 corporate innovation and technology bonds totaling 1.738 billion yuan; 5 rural development bonds totaling 1.7 billion yuan.

“This year, the stock exchange bond market is expected to support economic structural reform and modernization, state-owned enterprise reform, domestic demand expansion, and support national strategies such as productivity, technological innovation, and green development.” Increased efficiency of additional development funds and economic development.”

Regarding the review, Hu Hensong predicts that this year's exchange bond market will continue to review the bond issuance issued by local investment companies last year, mainly on the local government debt standard and local investment, under the strict control policy on new hidden municipal loans. . The review and issuance process is more convenient for the company's solvency and good issuers. It is also expected that regulators will encourage industrial enterprises to issue bonds and encourage quality real estate enterprises to issue bonds, while risky enterprises will further restrict bond financing.

[acriminalwasteofspace 2023] Is there a charge for pollutant discharge permit registration?

Thu, 16 Feb 2023 13:11:33 +0800

The emission permit system is a basic environmental management system that covers all stationary pollutants. Facilitates organizational change. From "I want to be law-abiding" to "I want to be law-abiding" in relation to corporate discharge permits. The Ministry of Ecology and Environment is continuously promoting reform of the emission permit system. Reduce the burden on the organization promoting system-linked process optimization

□ Agencies that need to register emission permits can report them through the National Emissions Management Information Platform. After verification, the Ministry of Ecology and Environment issues emission permits without fees to those who meet the requirements.

Recently, many ecological and environmental organizations have received reports from the public that: Someone on behalf of the Department of Ecology and Environment provides permit registration services to facilities and charges a fee.

"This is a scam!" In an interview with reporters, a person in charge of the Heilongjiang Provincial Department of Ecology and Environment said that institutions that need to register emission permits can apply freely. Through the National Emissions Management, the information platform and the Department of Ecology and Environment charge no fees.

Discharge permits are understood as the main legal documents for businesses and institutions. Accept environmental supervision and supervision by environmental protection department during production and operation. Organizations and institutions apply for pollutant discharge permits in accordance with the law. Self-certification of compliance with the emission law under license Using the permit system to control emissions is a concrete measure to promote the construction of ecological civilization and strengthen environmental protection.

In July 2022, Mr. Gu, who runs a small wine shop in Haimen County, Nantong City, Jiangsu Province, received a call from an individual claiming to be from the Department of Ecology and Environment. She was informed that she had to pay. She registered 480 yuan for environmental emissions, and after transferring the money in a timely manner, she knew that something was wrong with her and reported it to the police. I know you lied. In fact, in June 2022, the Ecology and Environment Bureau of Rizhao City, Shandong Province, received several calls from citizens asking if they would charge a fee for registration of emission permits. A joint investigation was conducted with the local public security bureau, and it was revealed that a person claiming to be an official of the Environmental Protection Registration Center had seduced the victim into paying a fee of 480 yuan under the guise of applying for a 5-year emission permit registration. More than 2,000 merchants in Shandong, Hebei, Henan, Tianjin and other places have been scammed, with fraudulent amounts exceeding 1 million yuan.

Lin Lin, who is in charge of the brand center of Xinlian Environmental Protection Technology Co., Ltd., told reporters: The company has several plants that need to apply for a wastewater treatment license. And they all register and log in and fill the sewer. Check the online approval request form through the National Sewage Management Permit Information Platform at the Department of Ecology and Environment. After inspection by the Ministry of Ecology and Environment and compliance with the requirements, emission permits are issued without a fee.

"Declaration on Fraud on behalf of Emission Permit Enforcement", issued by Jiangsu Provincial Department of Ecology and Environment, emphasizing that emission agencies will not charge fees. If you encounter any problems during the pollutant discharge registration process during the discharge permit application process, you can call the local Department of Environmental Ecology. Depending on the needs of the organization, the organization may entrust a third-party technical agency to help complete emission permits or emission registration. Consulting fees or service fees are paid by the Contracting and Ecology Department. No third parties are designated. . party skill unit

The Zhangqiu branch of the Jinan Ecological Environment Bureau also pointed out in the anti-fraud warning that it did not require or assign any service agencies to undertake claims for emission permit registration. Do not trust the so-called If any institution or individual receiving paid services encounters the above situation, please carefully review and check with the Department of Ecology and Environment in a timely manner. Be aware of possible scams. If the situation is serious, report it to your local public safety department.

[2023] Strengthen the risk classification management of commercial banks' financial assets

Thu, 16 Feb 2023 13:10:25 +0800

To further facilitate commercial banks to accurately identify and assess credit risk and accurately reflect the quality of their assets, the Banking Insurance Regulatory Commission of China and the National Bank of China jointly developed the "Financial Asset Classification Measures for Commercial Banks". , has been officially released. 11 days

Credit risk is the most important risk facing the banking industry in Korea, and an appropriate risk classification system is the foundation and basis for effectively preventing and controlling credit risk. In 1998, the People's Bank of China reportedly published the Credit Risk Classification Guidelines, which proposed a five-level classification concept. In 2007, the former China Banking Regulatory Commission issued the "Credit Risk Classification Guidelines" to further clarify the five-level classification supervision requirements.

“In recent years, there have been significant changes in the asset structure of commercial banks in our country, and risk classification practices have faced many new situations and new challenges.” Head of relevant departments of China Banking Insurance Regulatory Commission. The Banking and Insurance Regulatory Commission of China and the People's Bank of China said that they have learned good international and domestic standards with the banking industry in our country. According to the current situation and regulatory practice, the development of this method will benefit the banking industry. industry. Preventing and effectively solving credit risks and improving the level of service to the real economy.

This method expands the subject of risk classification from loans to all financial assets with credit risk, defines classification standards for financial assets into five categories, establishes classification standards for retail assets and non-commercial assets, risk classification. Improvement of asset management and commercial bank risk classification management structure, etc.

Delinquency and credit impairment are important indicators of asset quality deterioration. Given that the current guidelines do not clearly define the relationship between the number of overdue days and the classification level, overdue financial assets are classified as special interest overdue for at least 90 days. 270 days or more is classified as fixed defect, and suspicious/overdue period of 360 days or more is classified as loss.

This measure will come into effect on July 1, 2023. This action determined the transition period after fully considering the institutional and market impact. After the official implementation of the measures, new businesses of commercial banks will be classified according to the requirements of the measures, and commercial banks will prepare a reclassification plan for businesses that occurred prior to the official implementation of the measures. plan. Quarterly, phased in, until December 31, 2025. All existing entities are reclassified according to the requirements of the method.

[2023] The level of green development of private enterprises has been significantly improved

Thu, 16 Feb 2023 09:36:24 +0800

According to the report by the reporter of the China National Federation of Industry and Commerce, the National Federation of Industry and Commerce of China recently announced the 'China Private Enterprise Green Report (2022)' for the first time. Actual results and typical examples of private enterprises in the fields of production and use, pollution reduction, energy conservation and carbon reduction, green transition and renewables, etc.

According to the survey, about 90% of private enterprises are aware of the "two positive lists" policy to promote the green development of enterprises. At the same time, as the level of environmental infrastructure provision in our country's industrial parks continues to improve, 62.6% of private enterprises are located in local industrial parks, benefiting from the environmental management service model and business environment for green development. Private enterprises have been continuously optimized. Among them, non-ferrous metal, chemical, iron and steel and other energy-intensive industries, private enterprises have a higher proportion, respectively, 83.3%, 78.4% and 71.9%.

In order to implement the "dual carbon" target, energy conservation and carbon reduction measures have been actively implemented in all regions, and the level of green and low-carbon development of private enterprises has been significantly improved in important areas.

According to the survey, about 30% of private enterprises have established action plans related to the path of "carbon reduction and carbon neutrality", and 53.5% of private enterprises in energy-intensive industries have established functional departments responsible for energy conservation. Active use of carbon reduction and carbon reduction technologies.