Femorning Daily 26.10.2016
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1、央行马骏表示，今年GDP增长6.7%基本已成定局。初步预期明年CPI涨幅将略高于今年，PPI涨幅预计明年全年平均将为正值。货币政策肯定要考虑对房地产价格的影响，房地产调控政策还是因城施策。人民币10月以来的贬值主要可以用美元指数的升值来解释，如果外资持续进入中国债券市场，将支撑人民币汇率。
THE PEOPLE'S BANK OF CHINA Ma Jun stated that, GDP growth of 6.7% is basically a foregone conclusion this year. It is initially expected that the next year CPI growth will be slightly higher than this year, PPI growth is expected that the whole year average will be positive next year. Monetary policy will certainly have to consider the impact on real estate prices, the real estate control policy will still be different in different cities. The RMB depreciation since October can be mainly explained by dollar index appreciation, if foreign investment continues to enter the Chinese bond market, the RMB exchange rate will be supported.
2、财政部消息，1-9月，国有企业营业总收入327015.8亿元，同比增长0.8%；国有企业利润总额17206.8亿元，同比下降1.6%。9月末，国有企业资产总额1287677.9亿元，同比增长9.7%；负债总额853448.5亿元，同比增长9.9%。
Ministry of Finance of the People's Republic of China news, from January to September, the total revenue of state-owned enterprises was 32.70158 trillion yuan, a year-on-year increase of 0.8%; the total profit of state-owned enterprises was 1.72068 trillion yuan, a year-on-year decrease of 1.6%. At the end of September, the total assets of state-owned enterprises amounted to 128.76779 trillion yuan, a year-on-year increase of 9.7%; the total liabilities were 85.34485 trillion yuan, a year-on-year increase of 9.9%.
3、人社部消息，1-9月，五项社会保险基金总收入为3.65万亿元，同比增长10.1%；总支出为3.17万亿元，同比增长12.5%。下一步将启动养老保险基金投资运营，组织第一批委托省份与社保基金会签订合同，公告第一批养老基金管理机构。
Ministry of Human Resources and Social Security of the People’s Republic of China news, from January to September, the total income of the five social insurance funds was 3.65 trillion yuan, a year-on-year increase of 10.1%; the total expenditure was 3.17 trillion yuan, a year-on-year increase of 12.5%. Next step, it will start the investment operation of pension insurance fund, organize the first batch of entrusted provinces to sign the contract with the social security insurance foundation, announce the first batch of pension fund management institutions.
4、发改委表示，按照目前的工作进度，2016年全国钢铁煤炭过剩产能退出任务有望提前完成。中长期看，随着能源消费强度的不断回落和可再生能源、清洁能源的快速发展，煤炭市场需求很难有绝对增长的空间，煤炭产业结构调整和优化升级的任务依然艰巨，将推进煤炭行业兼并重组和处置“僵尸企业”。
National Development and Reform Commission (NDRC) stated that according to the current work progress, China’s de-capacity task of iron and steel and coal in 2016 is expected to be completed ahead of schedule. In the medium and long term, with the continuous decline of energy consumption and the rapid development of renewable energy and clean energy, there is hardly room for absolute increase in coal market demand. The task of coal industry structural adjustment and optimization and upgrading is still arduous. The coal industry mergers and acquisitions will be promoted and "zombie enterprises" will be disposed.
5、21世纪经济报道消息，评级机构穆迪近日密集上调了22家国企与7家中资银行的评级展望，由“负面”调整为“稳定”。这是该机构今年3月大范围调低中国国企与金融机构评级展望后，再次作出细化调整。
21st Century Business Herald news, rating agency MOODY’S has recently intensively upgraded the 22 state-owned enterprises and seven Chinese banks rating outlook from "negative" to "stable." These are detailed adjustments the agency made again after its wide-range degrading of China’s state-owned enterprises and financial institutions rating outlook in March this year,.
6、第一财经消息，证监会10月25日、26日组织举行证券经营机构公司债业务培训班，这是公司债业务培训的第一期，主要内容包括详解监管要求、创新产品、预审政策等内容。据参会人士介绍，监管层对2015年证券公司现场检查中，发现公司债尽调存在多个问题，包括尽职调查不充分、涵盖范围不足，留痕不充分，尽职调查底稿中存在重大内容缺失等问题。
China Business Network Co., Ltd. (CBN) news, CHINA SECURITIES REGULATORY COMMISSION (CSRC) is organizing a securities business institution corporate debt business training course on October 25th and 26th, which is the first phase of corporate debt training, the main contents include detailed regulatory requirements, innovative products, pre-examination policy and other content . According to the participants, in the 2015 on-site inspection of the securities companies, the regulators found that there are many problems of corporate debts due diligence and filing, including insufficient due diligence, inadequate coverage, incomplete traces, major content missing from the draft of due diligence and other issues.
7、中证报消息，除建行外，工、农、中、交等四家国有大行及浦发、招行等股份制银行也对债转股跃跃欲试。专家认为，在试点期间，高负债的周期性行业将成为债转股重点领域，可选择上市公司作为债转股对象，因为其透明度和市场化程度都更高，债权转让和转股价格都更容易在各参与方之间达成一致。
China Securities Journal news, in addition to China Construction Bank (CCB), the four state-owned major bands of Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China, BANK OF CHINA, BANK OF COMMUNICATIONS and Shanghai Pudong Development Bank (SPD BANK), CHINA MERCHANTS BANK and other joint-stock banks are also eager for debt-for-equity swap. Experts believe that during the pilot period, the highly indebted cyclical industries will become the focus areas of debt-for-equity swap, listed companies can be chosen as a debt-for-equity swap objects because their transparency and marketability are higher and agreements on the transfer of debt and conversion prices are easier to be reached among the parties.
8、人民日报海外版消息，除了承接海外订单，海外并购和直接对外投资也是国有企业“出海”的重要形式。从这个角度来说，如何提高并购的有效性和回报率，防止国有资产在并购中流失，亦成为国企改革的重要命题。
PEOPLE’S DAILY OVERSEAS EDITION news, in addition to undertaking overseas orders, overseas mergers and acquisitions and direct overseas investment are also important forms for state-owned enterprises "to go out to the open sea". From this perspective, how to improve the effectiveness of M & A and the rate of return and how to prevent the loss of state assets in M & A may also become an important proposition for the state-owned enterprise reform.
9、广州日报消息，第三方支付行业正在迎来前所未有的并购高潮。近日，唯品会、小米、恒大、美的等财大气粗的明星企业都通过收购的方式将支付牌照纳入囊中，尤以互联网支付业务类型最热。业内人士认为，未来具备独立生存能力的互联网支付企业可能不超过20家。
Guangzhou Daily news, third-party payment industry is ushering in an unprecedented upsurge in mergers and acquisitions. Recently, VIP.COM, Mobile Internet (MI), EVERGRANDE, Midea and other wealthy star companies are all getting the payment license into the bag through acquisition, the types in the internet payment service are especially hot. The industry insiders believe that the internet payment companies that can survive independently in the future may not exceed 20.
10、新华社消息，美国酒店巨头希尔顿集团24日发表公告称，中国海航集团将斥资约65亿美元从黑石集团手中收购约25%希尔顿集团股份，成为希尔顿的长期战略投资者。此次收购为全现金收购，预计收购将于2017年一季度完成。
Xinhua News Agency messages, the US hotel giant Hilton Group issued a statement on October 24th, saying that China HNA Group will spend about $ 6.5 billion to acquire about 25% stake of Hilton Group from the Blackstone Group, becoming Hilton' s long-term strategic investor. The acquisition is an all-cash acquisition and is expected to be completed in the first quarter of 2017.
11、财经早餐今天的回复关键词是：房价。十月下旬各地楼市成交情况如何呢？限购等降温举措见效了吗？想知道您所关注的城市房价走势吗？财经早餐每天都会为您统计多个城市楼市价量数据。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 in late October? Have the cooling measures like purchase restriction worked? 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。十月下旬各地楼市成交情况如何呢？限购等降温举措见效了吗？想知道您所关注的城市房价走势吗？财经早餐每天都会为您统计多个城市楼市价量数据。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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