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Brokerage morning meeting highlights: China's semiconductor industry's domestic market demand and self-controllable direction are clear.
At today's brokerage morning meeting, citic sec believes that the domestic market and self-controllable direction are clear development directions for China's semiconductor industry; gtja pointed out that the improvement in domestic demand is expected to continue to heat up, highlighting the elasticity of baijiu; htsc stated that bank performance is expected to stabilize, seizing structural opportunities.
Pan Gongsheng: steadily promoting the opening up of the financial services industry and financial market systems, expanding the interconnection of domestic and foreign financial markets.
①The fundamentals of the Chinese economy, the broad market, strong economic resilience, and great potential have not changed; ② Continue to adhere to the supportive mmf policy, strengthen communication with the market, and constantly improve the quality and effectiveness of financial services.
"Blank period" a month later, perpetual bond issuance of banks intensifies: minsheng bank kicks off the fourth quarter issuance, followed by China Merchants Bank, Ping An, and Bank of Suzhou in November.
①From the perspective of the issuer type, perpetual bonds issued by banks show that there are relatively more issuances by small and medium-sized banks, and the issuance scale of state-owned large banks and commercial banks is relatively larger; ②Issuing perpetual bonds can effectively supplement the other Tier 1 capital of banks, enhance capital adequacy ratio, can meet regulatory requirements, and strengthen risk resistance capability.
China Minsheng Banking Issues 10 Billion Yuan Capital Bonds
Minsheng Bank completes the issuance of 10 billion yuan non-fixed-term capital bonds.
Minsheng Bank (01988) announced that, approved by the China Banking and Insurance Regulatory Commission and the People's Bank of China, the bank successfully issued the "China Minsheng Bank Co., Ltd. 2024 Non-Fixed-Term Capital Bonds (Series 2)" in the national interbank bond market and completed the registration and custody of the bonds at the China Central Depository & Clearing Co., Ltd. The bonds for this issuance were book-built on October 30, 2024, and were issued on November 1, 2024. The issuance size was RMB 10 billion, with staggered adjustments to the face interest rate, with a face interest rate adjustment period of every 5 years, and the face interest rate for the first 5 years being
Large banks are accelerating their expansion to lower-tier cities! The balance of inclusive small and micro loans is increasing while interest rates are decreasing. Small and medium-sized banks are speeding up to attract customers.
From the perspective of inclusive finance, state-owned banks continue to lower the average interest rate on inclusive loans for small and micro enterprises this year, while the loan balance has grown rapidly since the beginning of the year. Joint-stock banks and city commercial banks, on the other hand, compete for customers based on service quality.
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