GTJA Securities: Diluting the obsession with scale and embracing the new norm of social financing.

PBOC Governor Pan Gongsheng pointed out at the Lujiazui Forum that when the growth of monetary and credit has shifted from supply constraints to demand constraints, if the focus is still on the increase in quantity even in the presence of a "size bias", it obviously contradicts the laws of economic operation. It is expected that the motivation behind banks using bills to pledge loans will significantly weaken, and more attention will be paid to the adjustment of loan structure and improvement of business quality and efficiency. Both social financing and credit will enter a "new normal" of growth.

Zhitong FinanceJul 15 23:10 ET

[Brokerage Focus] Bocom Intl indicates that new loans in June meet market expectations.

Jingu Finance | Bocom Intl released research reports stating that new loans in June were 2.13 trillion yuan (RMB, same below), which is in line with market expectations, a year-on-year decrease of 920 billion yuan, with the decrease mainly coming from medium and long-term loans to enterprises, as well as short-term and medium-to-long-term loans to residents. The new social financing in June was 3.3 trillion yuan, which is basically in line with market expectations, with a year-on-year decrease of 926.6 billion yuan, mainly due to a year-on-year decrease in RMB loans. The year-on-year decrease in M1 has further expanded, while the growth rates of M2, RMB loans, and social financing balance continue to slow down. The bank pointed out that the monetary, credit, and social financing data in June continued to be affected by the calculation of value-added by the financial industry.

金吾財訊Jul 15 21:08 ET

At the end of June, the balance of foreign currency loans in Shanghai reached 11.85 trillion yuan, up 8.6% year-on-year, according to the Shanghai branch of the People's Bank of China.

On July 15, the Shanghai headquarters of the People's Bank of China released the running status of MMF and crediting in Shanghai for the first half of 2024.

Zhitong FinanceJul 15 09:24 ET

Representatives of high dividend banks have all reached new highs! Institutions say insurance is also underallocated.

On July 15th, high dividend stocks were once again sought after by funds, with high dividend stocks such as Industrial and Commercial Bank of China (601939.SH), Agricultural Bank of China (601288.SH), Bank of China (601988.SH), and China Construction Bank Corporation (601939.SH) all rising.

Zhitong FinanceJul 15 04:46 ET

GF Sec: A summary of the quota and usage of interbank certificates of deposit in the first half of 2024.

Under the policy guidance of idle funds pressure, it is unlikely that state-owned banks will update their filing quotas within the year. In history, only a few urban and rural commercial banks have updated their filing quotas due to the scale of their deposit certificates exceeding the filing quotas, and state-owned banks have no precedent yet.

Zhitong FinanceJul 12 04:32 ET

Hang Seng Index Company: The Hang Seng Stock Connect State-Owned Enterprise Value Index has risen by more than 26% since the beginning of the year, significantly outperforming the market.

Heng Seng Index Company stated that state-owned enterprises have significantly outperformed in the Hong Kong stock market in recent years.

Zhitong FinanceJul 11 04:59 ET