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The first three-quarter report of the insurance industry! Ping An Life Insurance and Health Insurance new business value increased by 34% year-on-year. Industry assessment: there is still a significant increase space in the proportion of equity investment
①In the first three quarters of 2024, Ping An Insurance achieved a net income attributable to the parent company of 119.182 billion yuan, an increase of 36.1% year-on-year; ②Ping An Insurance's new business value in the first three quarters increased by 34.1% to 35.16 billion yuan; ③In the first three quarters of 2024, Ping An Insurance's insurance fund investment portfolio achieved an annualized comprehensive investment yield of 5%.
Alibaba Uses AI Tool Quanzhantui To Boosts Singles' Day Sales, Driving Growth for Merchants
Share buyback shareholding loans quickly landed! ICBC, BOC, ABC, CMB, CITIC and other first batch of multiple banks announced progress. Some banks have already shown cooperation intentions with nearly a hundred listed companies.
1. As of now, Bank of China has reached cooperation intentions with nearly a hundred listed companies, with 32 listed companies explicitly promised loans, covering multiple industries such as integrated circuits, transportation, high-end manufacturing, and business services; 2. The banks stated that they will strictly adhere to the risk compliance bottom line, rigorously prevent crediting funds that do not meet the conditions of stock increase stake & buyback and refinancing policies from illegally flowing into the stock market.
The 5-year LPR has dropped sharply by 60 basis points this year, refreshing the historical lowest record, and the real estate market is expected to welcome a "warm winter".
1. The central bank has lowered the loan market benchmark interest rate LPR for the third time this year, with a cumulative reduction of 60 basis points in the 5-year LPR, setting a new historical record. 2. "Interest rate cuts are conducive to stabilizing expectations in the real estate market. It is expected that some cities, especially first-tier and second-tier cities, will gradually stabilize, with the market quickly stabilizing, becoming a trend. It is expected that in the fourth quarter of 2024, a warm winter market will appear in certain market ranges."
In October, the LPR was lowered, and the LPR for more than 5 years has cumulatively decreased by 60 basis points this year. Existing house loan residents may save more than 0.24 million in interest.
①After the downward adjustment of the October LPR quote, it will drive a greater reduction in corporate and residential loan interest rates, thereby stimulating financing demand for the real economy, promoting consumption, expanding investment, boosting economic growth momentum, and driving a moderate rebound in commodity prices. ②Looking ahead, focusing on stabilizing and revitalizing the real estate market to boost economic growth momentum, drive a moderate rebound in commodity prices, there may still be some room for a downward adjustment of the LPR quote in 2025.
US stocks rose for the sixth consecutive week, crude oil plummeted, gold and silver shone | Overseas major asset weekly report
Spot gold hit record highs twice this week, with a total weekly increase of about 2.4%, while silver rose about 7% to nearly a twelve-year high for the week. With the USA pushing for a ceasefire in Gaza, the crude oil market showed a weak performance this week. The dollar fell from an 11-week high.