Internet regulation will be upgraded again, and according to opinion standards, APP such as Wechat, Taobao, Douyin, Alipay and Meituan may all be managed by super platforms. In addition, the China Merchants China Securities Liquor Index Fund announced restrictions on purchases, which was imposed at the end of August, meaning that at least in August, when the liquor sector was in negative decline, the fund ushered in a flood of money to buy. Northbound funds bought net for 13 months in a row, and the largest turnover this week was in the Ningde era, where Longji shares overtook Guizhou Moutai to become the second largest trading volume, with a cumulative turnover of 9.719 billion yuan, up 15.45 per cent in a week.

　　Supervision will be upgraded again! Major Internet events in China

On October 29, the State Administration of Market Supervision and Administration issued an announcement on the public solicitation of opinions on the guidelines for the Classification and grading of Internet platforms (draft for soliciting opinions) and the guidelines for the implementation of subject responsibilities for Internet platforms (draft for soliciting opinions). Internet platforms are divided into three levels: Super platforms, large-scale platforms and small and medium-sized platforms.

According to the classification criteria, the annual active users of the super platform in China last year were not less than 500 million, the core business involved at least two types of platform business, the market capitalization (valuation) at the end of last year was not less than 1 trillion yuan, and it had a strong ability to limit merchants' access to consumers (users). Large platforms have no less than 50 million annual active users in China last year, have outstanding platform main business, and have a market capitalization (valuation) of not less than 100 billion yuan at the end of last year, while small and medium-sized platforms refer to certain annual active users in China.

There are a total of 35 articles in the implementation principal responsibility guide, of which 9 are mainly aimed at super-large platforms. these include: fair competition demonstration, equal governance, open ecology, data management, internal governance, risk assessment, risk prevention and control, security audit and promotion of innovation.

From the specific basis of this platform classification, we mainly consider the connection attributes and main functions of the platform. The connection attribute of the platform refers to the connection between people and goods, services, information, entertainment, capital and computing power through network technology, so that the platform has various functions such as trading, social, entertainment, information, financing, computing and so on.

From the perspective of platform classification, it mainly takes into account the size of users, types of business and limited capabilities.

Market analysis believes that according to the above standards, APP such as Wechat, Taobao, Douyin, Alipay and Meituan may all be managed according to super platforms.

　　What signal? "Wine King" suddenly opened the purchase restriction.

The China Merchants China Securities Liquor Index Fund, which can be called the "wine king", announced purchase restrictions on the evening of the 29th.

The China Merchants China Securities Liquor Index Fund issued a notice saying that in order to ensure the smooth operation of the fund and safeguard the interests of fund share holders, the China Merchants China Securities and Liquor Index Securities Investment Fund should adjust the large-scale purchase (including regular quota investment) and conversion into business of the China Merchants China Securities Index Securities Investment Fund. Starting from November 2, 2021, the suspension of large-scale purchase of category A shares of the fund (including regular quota investment) and the conversion into business will be adjusted. If a single or cumulative application for a single fund account exceeds 100000 yuan in a single day, the fund has the right to reject part or all of it.

Since November 2, 2021, the suspension of large-scale purchase of Category C shares of the Fund (including regular fixed investment) and the conversion into business shall be adjusted, such as a single fund account in a single day or the cumulative application amount exceeds 5000 yuan, the fund has the right to refuse part or all of it.

The China Merchants China Securities Liquor Index Fund is currently the largest equity fund in China. According to the third quarterly report disclosed by the China Merchants China Securities Liquor Index Fund, the total assets of the fund reached 92.9 billion by the end of the third quarter.

Different from other types of funds, the China Merchants Zhong Zheng Liquor Index Fund, which takes liquor as the main investment target, has become more and more concerned by investors. Statistics show that during the third quarter of this year, the CSI liquor index fell by nearly 12%. Such a large decline in the industry index, not only did not scare investors, but further stimulated investors' interest in buying the China Merchants China Securities Liquor Index Fund.

According to the information disclosed by the China Merchants China Securities Liquor Index Fund, the fund imposed a purchase restriction at the end of August this year, with a single or cumulative application amount of no more than 1 million yuan for a single fund account in a single day. This message means that at least in August, when the spirits sector fell, the fund ushered in a flood of money to buy.

However, the China Merchants China Securities Liquor Index Fund has lowered the purchase limit from 1 million yuan to 100000 yuan, which to a large extent means that investors are going against the trend to copy the bottom and apply for funds.

　　The latest trend of smart funds is revealed.

Since October, northbound funds have bought a total of 32.84 billion yuan, an increase of 2.321 billion yuan compared with September. Since October last year, there has been a net inflow of capital going northward for 13 months.

There are 16 industries where capital holdings have increased month-on-month this week, of which the public utilities industry has increased the most, with the latest holding of 4.446 billion shares, an increase of 122 million shares over the previous week, followed by the electrical equipment and architectural decoration industry. shareholdings increased by 117 million shares and 109 million shares compared with last week.

In the past two days, a total of 6 hydrogen energy concept stocks have been continuously increased by northward funds, including United American Holdings, Longji shares, Antai Technology and so on. From the valuation point of view, Jiahua Energy, United States Holdings' latest rolling price-to-earnings ratio of less than 15 times, respectively 8.37 times, 13.33 times.

The largest transaction volume is in the Ningde era, with a total turnover of 14.493 billion yuan this week. Ningde era received a net purchase of northbound funds for eight consecutive weeks, becoming the stock with the highest turnover of northbound funds this month. Longji shares surpassed Guizhou Moutai to become the second largest trading volume, with a cumulative turnover of 9.719 billion yuan, up 15.45 per cent in a week.

In terms of net purchase and purchase amount, 22 shares are net purchases, and the highest net purchase amount is Divine Materials, with a net purchase of 2.371 billion yuan this week, followed by Ningde Times, Yili shares and Longji shares.

Active stocks continued to outperform the market this week, with individual stocks up 1.2% on average, higher than the 0.98% decline in the Prev over the same period. Divine materials led the increase, up 24.01% a week. China Power Construction gained the daily limit on Monday, rising 18.81% in a week. Other top gainers included Zhengtai Electric Appliance, Longji and Guoxuan High Tech, all led by carbon neutral and lithium battery concept stocks.

This week, a total of 19 shares increased by more than 100%. The biggest month-on-month increase was Lili makeup, with northward capital holding 385300 shares, followed by Xiamen Bank and China Telecom Corporation, with month-on-month increases of 348% and 282.41%, ranking second and third on the list of increased positions.

In addition, among the stocks with an increase of more than 100%, Changxin Technology, Wanneng Electric Power and China Jane Technology rose sharply this week, up 31.37%, 14.32% and 10.83%, respectively.