Femorning Daily 24.10.2016
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1、新华社消息，2016年中国经济已进入“收官季”，虽然仍面临艰巨挑战，但全面完成“十三五”开局之年经济发展主要目标趋势看好。投资仍是现阶段稳增长最有效的手段，但此轮调控没有搞“强刺激”，而是适度扩大有效投资，优化投资结构。通过专项建设基金引导带动、开展促进民间投资专项督查、推进PPP项目、放开市场准入等手段综合施策。
Xinhua News Agency reported, the Chinese economy in 2016 has entered the "ending season", although still facing difficult challenges, the trend of fully completing the main target of economic development in the first year of the "Thirteenth Five-Year Plan" is optimistic. Investment is still the most effective means of steady growth at this stage, this round of regulation did not adopt "strong stimulus", but to appropriately expand effective investment and optimize the investment structure. Comprehensive policies are implemented through means including the guidance and drive of special construction funds, the implementation and promotion of private investment special inspections, the promotion of PPP projects, and the liberalization of market access.
2、海通证券姜超认为，从外部看，美国11月大选、12月加息都存在巨大的不确定性。从内部看，地产调控加码后10月中下旬地产销量大幅跳水，四季度经济下行风险加剧，靠PPP基建恐独木难支。从流动性来看，在汇率贬值和地产泡沫双重压力下，央行货币政策短期偏紧，导致上周货币利率全面攀升，短期需防范流动性风险。
HAITONG SECURITIES Jiang Chao believes that looking outward, both the US election in November and the interest rate hike in December have huge uncertainties. Looking inward, after the real estate regulation and control raising effort, the real estate sales sharply dive in mid and late October, economic downturn risk is increased in the fourth quarter, it’s probably hard to make it rely on PPP infrastructure alone. Seeing from the liquidity point of view, under the dual pressures of the exchange rate depreciation and the real estate bubble, the monetary policy of THE PEOPLE’S BANK OF CHINA (PBC) will be relatively tight in the short-term, leading to an overall increase in interest rates last week, liquidity risk needs to be guarded against the short-term.
3、人民日报消息，农业银行董事长周慕冰表示，当前和今后一段时期，面对经济下行的压力，银行经营规模快速扩张、盈利高速增长、竞争压力宽松的黄金时期宣告结束，负债成本提高、有效资产不足、存贷利差收窄、风险防控压力加大、收益水平下降和同业竞争加剧，将会成为银行经营的常态。
PEOPLE’S DAILY news, AGRICULTURAL BANK OF CHINA chairman Zhou Mu Bing said that facing the economic downward pressure in the current and future period of time, the golden age of rapid expansion of operation scale, rapid profit growth and loose competition pressure in the banking industry ended. Increase in the cost of debt, lack of effective assets, narrowing deposit and loan spreads, risk prevention and control pressure, income level declining and competition within the industry increasing will become the norm of bank operations.
4、方正证券任泽平表示，房地产小周期结束，这轮房价上涨接近尾声。随着房地产调控效果显现，预计四季度末经济将重回下行通道，政策可能发力基建部分对冲。此外，继续维持股市震荡市结构性机会判断，建议关注国企混改、PPP、轨道交通、债转股、深港通、消费等四季度主题投资机会。
FOUNDER SECURITIES Ren Zeping said that the small real estate cycle was over, this round of rising prices is near the end. With the real estate regulation and control effect emerging, it is expected that the economy is going to return to the downstream channel by the end of the fourth quarter, the policy may force on the infrastructure part to hedge against it. In addition, the prediction that the stock market will be in fluctuation and there will be structural opportunities remains unchanged, it is suggested to focus on investment opportunities of the fourth quarter themes, such as state-owned enterprises mixed ownership reform, PPP, rail transportation, debt-for-equity swap, the Shenzhen-Hong Kong Stock Connect program, consumption and so on.
5、中证报消息，虽然目前股票市场的赚钱效应不明显，但对于上市公司大股东而言，获利动机始终未变。只是在弱势行情下，大股东需要更多机构，例如私募、券商来“友情客串”他们的资本故事，借助股票收益互换等带有对赌性质的工具，得以最大限度地从资本市场获利。
China Securities Journal news, although the stock market doesn’t have obvious effect to make money currently, for the major shareholders of the listed companies, the motive for profit has never changed. Only in the weak market, the major shareholders need more institutions, such as private equity, brokerage firms to be "friendship guests" to play their capital stories, using stock return exchanges and other tools with the nature of gambling to maximize the profit from the capital market .
6、据克而瑞发布的《2016前三季度房地产企业运营收入榜》显示，今年前三季度，以商业地产运营为主的龙头企业异军突起，红星美凯龙、中粮大悦城分别冲至第二和第五位。业内人士认为，“左手开发、右手运营”将成为标杆房地产企业调整战略布局的趋势。
According to "real estate enterprise operating income list of the first three quarters of 2016" released by CRIC, in the first three quarters of this year, the leading enterprises mainly in commercial real estate operations suddenly rose, MACALLINE, COFCO Joy City were rushed to the second and fifth place respectively. The industry insiders believe that the "development on one hand, operation on the other" will become the strategic layout trend for benchmark real estate enterprises to adjust.
7、新华社消息，中国健康促进基金会理事长白书忠表示，随着国家政策的重视和人们经济水平的提高，我国健康管理业正步入“黄金期”，未来将加强行业规范和大数据信息化建设，实现对疾病的精准预防。
Xinhua News Agency reported, CHINA HEALTH PROMOTION FOUNDATION chairman Bai Shuzhong said that with the emphasis of the national policies and the increase of people’s economic levels, China's health management industry is entering the "golden age", the industry norms and big data information technology will be enhanced in the future to achieve the precise prevention of diseases.
8、央广网消息，10月22日，江苏盐城市在北京举行合作共建国家级大数据产业基地推介会，来自北京、上海等地近300名客商参会，现场签约微软等22个大数据项目。盐城大数据产业园经过一年多来的高强度推进，核心区已完成投资超100亿元，华为、东方国信等219个项目先后落户。
Www.cnr.cn news, on October 22nd, Yancheng City, Jiangsu Province, held a promoting conference on cooperatively constructing a national-level big data industry base in Beijing, nearly 300 businessmen from Beijing, Shanghai and other places participated, 22 big data projects including Microsoft were signed on-site signing. After more than a year’s highly intensive promotion, Yancheng Big Data Industrial Park’s core area has completed investments of over 100 billion yuan, 219 projects including HUAWEI and BONC have settled here.
9、新华社消息，美国电信运营商美国电话电报公司22日宣布，将以854亿美元的价格收购时代华纳公司。本次收购将采用现金加股权的方式。分析人士指出，这是近年来美国电信运营商转型进军传媒业的又一举措。
Xinhua News Agency reported, US telecom operator AT & T Corp. (NYSE: AT & T) announced on October 22nd that it will buy Time Warner for $ 85.4 billion. The acquisition will be in cash plus equity. Analysts pointed out that this is another move of US telecom operators transforming and entering the media industry in recent years.
10、10月22日，上海车牌拍卖结果出炉。10月，沪牌投放额度为11621张，较上月减少1268张；参加拍卖人数213212人，较上月减少16332人，中标率5.5%；平均成交价为88359元，较上月增加1836元。
On October 22nd, Shanghai license plate auction results were released. In October, 11,621 plates were auctioned, decreased 1,268 from the last month, 213,212 people participated in the auction, and decreased by 16,332 people from the last month, the successful rate was 5.5%. The average transaction price was 88,359 yuan, increasing 1,836 yuan from the last month.
11、财经早餐今天的回复关键词是：房价。过去的一周，各地楼市成交情况如何呢？想知道您所关注的城市房价走势吗？财经早餐特别统计了多个主要城市楼市价量数据。点击公众号界面左下按钮，文字或者语音回复房价即可。
Femorning’s keyword for replying today is housing price. How was the property market transaction situation in various cities for the last week? Would you like to know the price trend of the city of your concern? Femorning provides you with daily price and volume data for a number of cities. All you need to do is to click on the button in the lower left of our Wechat interface, reply housing price by text or voice.
财经早餐今天的回复关键词是：房价。过去的一周，各地楼市成交情况如何呢？想知道您所关注的城市房价走势吗？财经早餐特别统计了多个主要城市楼市价量数据。点击公众号界面左下按钮，文字或者语音回复房价即可。
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