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February 28 Insurance Daily丨Enhancing the quality and efficiency of green financial services, two departments released a plan! Catastrophe Insurance continuously receives policy briefings, and the investment enthusiasm of insurance funds is rising.
To enhance the quality and efficiency of green financial services, two departments released a plan as part of the financial "five major articles". Green finance is ushering in a high-quality development implementation plan. On February 27, regarding the effective completion of the financial "five major articles", the National Financial Regulatory Administration and the People's Bank of China jointly issued the "Implementation Plan for High-Quality Development of Green Finance in Banks and Insurance Industries", outlining the green finance development goals for the next five years, including strengthening financial support in key areas and improving the green financial service system among the key tasks. By the end of 2024, 21 major banks' green Crediting balance will reach 32.78 trillion yuan, a year-on-year increase of 20.61%.
February 27 Insurance Daily | The threshold for Hong Kong and Macau Financial Institutions to invest in mainland Insurance companies is further lowered, with Insurance funds continuously purchasing with a strong preference for Banks stocks.
The threshold for Hong Kong and Macau Financial Institutions to invest in mainland Insurance companies has been further lowered. Recently, the Financial Regulatory Administration issued a notice regarding the investment of Hong Kong and Macau Financial Institutions in Insurance companies. The main content of the notice is that, starting from March 1, 2025, Hong Kong and Macau Financial Institutions will no longer be subject to the requirement of 'total assets not less than two billion US dollars at the end of the most recent year' for investing in domestic Insurance companies. The Financial Regulatory Administration stated that the notice is an important measure to orderly expand financial opening-up, which is beneficial for mainland Insurance companies to attract quality investments from Hong Kong and Macau Financial Institutions, further enhancing their capital strength and optimizing their equity structure.
China's Central Bank Conducts 300 Billion Yuan Medium-term Lending Facility Operation
The central bank carried out a one-year MLF operation of 300 billion yuan with interest rates remaining unchanged.
The People's Bank conducted a 300 billion yuan medium-term lending facility (MLF) operation, with a term of 1 year and a winning interest rate of 2.00%.
Will the tight funding conditions continue? This week, over one trillion interbank certificates of deposit will mature, and the pressure on the Banks' liability side will still require time to alleviate.
① If the funding situation does not loosen, the interbank certificate of deposit interest rates will continue to rise. ② The current relief from pressure on the asset side may take time, and the alleviation of banks' liability pressure may require the liquidity environment to loosen first. ③ Non-bank Institutions and rural commercial banks are the Block Orders for Shareholding, while Funds and Brokerages are the main ones reducing their holdings.
CITIC SEC: It is expected that the performance of Banks and other high certainty Sectors will likely take over, with optimistic absolute return potential.
In terms of individual stock combinations, two main lines are recommended: 1) Stable returns from dividend contributions, select individual stocks with stable performance growth, stable dividend rates, stable asset quality, and low valuation fluctuations; 2) Companies with excellent business models, where valuation premiums are expected to return to normal Range: Select individual stocks with high ROE and strong certainty, where current valuation premiums are still at low levels.
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