FemorningDaily17.02.2019

1.ZHANGXiaojingoftheChineseAcademyofSocialSciencessaidthattheriskofleverageismainlyinstate-ownedenterprisesandlocalgovernments.In2018,thetotalleverageoftherealeconomysectorwas243.7%.Amongthem,theleverageratioofresidentsis53.2%,theleverageratioofenterprisesis153.6%,andthegovernmentleverageratiois37%.Amongtheenterpriseleverageratios,theleverageratioofstate-ownedenterprisesis103%,ofwhichmostofthemarefinancingplatformdebts,whichshouldbeincludedinthelocalgovernment.Theleverageratiobetweenstate-ownedenterprisesandthegovernmenttotaled139.8%,accountingfornearly60%ofthetotaldebtoftherealeconomy.

1、社科院张晓晶表明，杠杆率危险首要在于国企与地方政府。2018年，实体经济部分总杠杆率243.7%。其间，居民杠杆率53.2%，企业杠杆率153.6%，政府杠杆率37%。企业杠杆率中，国企杠杆率达103%，其间一般多为融资渠道债款，本应计入地方政府。国企与政府杠杆率算计达139.8%，占实体经济部分悉数债款的近六成。

2.AccordingtotheShanghaiSecuritiesNews,thefirstweekoftheA-sharemarketafterholiday,thereweremorethan100executives(andtheirimmediatefamilymembers)"srecordofreduction,involvingmorethan50listedcompanies,withatotalreductionofover700millionyuan.Industryinsiderspointedoutthatexecutivesaremostfamiliarwiththeirowncompanies.Iflarge-scalereductionsoccur,theyareoftenunderstoodas"thecurrentstockpriceisstillworthwhile."Ifthereisalargeincreaseinholdings,itmeansthatitisoptimisticaboutthecompany"sprospectsandvalue.

2、据上证报报导，A股节后开盘首周，共有超100条高管的减持记载，触及超50家上市公司，算计减持金额超7亿元。业内人士指出，高管对自家公司最了解，假如呈现大额减持，往往被理解为“在当时股价离场依然合算”。假如呈现大额增持，则意味着其看好公司的远景和价值。

3.ItwaslearnedfromtheCCTVnewsappthatduringtheSpringFestivalthisyear,manydomesticfilmsthatwerepopularinthetheaterswerealsosufferingfromseriousonlineinfringementandpiracywhileharvestinggoodboxofficeandwordofmouth.Inresponse,theNationalCopyrightAdministrationrespondedthatitwillunitemultipledepartmentstoincreaseinvestigationsandcurbthespreadofinfringementandpiracy.

3、从央视新闻客户端得悉，今年春节期间，多部院线热映的贺岁档国产影片，在收成不俗票房和口碑的一同，也遭受了严峻的络侵权盗版。对此，国家版权局回应称，将联合多部分加大排查力度，遏止侵权盗版现象延伸。

4.LULei,thedeputydirectoroftheStateAdministrationofForeignExchanges(SAFE),saidthatitisafalsepropositiontokeepthereserveortomaintaintheexchangerate.Theforefrontoftheforeignexchangemarketdeterminesthefirstnatureofthereserve.Foreignexchangereserveshaveacounter-cyclicalbufferinsystemicrisk,andthenthereisconfidenceinthestabilityoftheexchangerateandtheliquidityofthelocalcurrency.

4、外管局副局长陆磊表明，保储藏仍是保汇率是一个伪出题。外汇市场的前沿性决议了储藏的第一性。外汇储藏在系统性危险中有逆周期缓冲作用，然后才有汇率安稳、辅币流动性的可置信度。

5.TheStateAdministrationofTaxationstatedthattaxpayersobtainedtaxableincomeafterJanuary1,2019andthatthewithholdingagenthandledthefulldeductionoffull-timedeductionsfromthetaxauthorities,orfiledtaxreturnswiththetaxauthoritiesaccordingtothetaxlaws.Regardlessofwhetherornotthetaxisactuallypaid,youcanapplyfortheissuanceofapersonalincometax"taxrecord."Inotherwords,evenifitisazerodeclaration,itiscontinuouslyrecordedinthetaxrecord.

5、国家税务总局表明，交税人2019年1月1日今后取得应税所得并由扣缴义务人向税务机关处理了全员全额扣缴申报，或依据税法规则自行向税务机关处理交税申报的，不管是否实践缴交税款，均能够请求开具个人所得税《交税记载》。也就是说，即便是零申报，均在交税记载中接连记载。

6.CAIFang,deputydeanoftheChineseAcademyofSocialSciences,saidthatthecurrentunemploymentphenomenonismainlyfrictionalandstructuralandnaturalunemployment.Thepolicyshouldfocusonpublicemploymentservicessuchastraining.Itisrecommendedthatmacroeconomicpolicydecisionsbebasedona5%surveyofunemploymentrates,andappropriateuseofpolicytoolstoregulatetheeconomy.

6、社科院副院长蔡昉表明，现在赋闲现象首要是冲突性和结构性的天然赋闲，方针要点应放在训练等公共工作服务。主张微观经济方针决议计划以5%查询赋闲率为准，当令适度运用方针东西调控经济。

7.AccordingtotheEconomicDailyNews,globalfinancialtechnologyfinancingin2018was111.8billionUSdollars,a120%increasefrom50.8billionUSdollarsin2017.Extralargemergersandacquisitionstransactionsarethemainfactorsdrivingglobalfinancialtechnology.Themainfeatureisthatcross-bordermergersandacquisitionshaveincreasedsignificantly.Regulatorytechnologyandblockchainhavebecomesopopular,andcompaniesareincreasinglyinterestedintechnologiessuchasartificialintelligenceandmachinelearning.

7、经济日报音讯，2018年全球金融科技融资为1118亿美元，较2017年的508亿美元激增120%，特大并购和收买买卖是推进全球金融科技的首要因素，首要特点是跨境并购明显增加，监管技能和区块链成为香饽饽，企业对比如人工智能、机器学习等技能益发感兴趣。

8.AccordingtoXinhuaNewsAgency,atpresent,ShanghaiJinshanandotherplacesarepilotingtheexplorationofmortgageloansforfarmers"housingpropertyrightstohelpthedevelopmentofsmallandmicro-businessentitiesinvolvedinagriculture.

8、新华社音讯，当时，上海金山等地正在试点探究农人住宅财产权典当借款，以助力涉农小微运营主体的开展。

9.AccordingtotheShanghaiSecuritiesNews,therecenttrendofA-sharesisquitestrong.The10%returnsoftheGEMindexrankedfirstamongthreemajorstockindexes.Injust6tradingdays,thecapitalgoingintothestockfromHongKingborrowedatotalofmorethan31.9billionAsharesfromShanghaiandShenzhen-HongKongStockConnectProgram.Inadditiontothetraditionalforeign-investedGreeElectricAppliancesandWuliangye,someoftheGEMstockshavereceivedattention.TheagencysaidthatastheGEMisexpectedtobeincludedintheMSCIindex,theincreaseofoverseasfundsintheGEMwillbethegeneraltrend.

9、上证报音讯，近期A股走势适当微弱，创业板指数以超越10%的涨幅笑傲三大股指。仅6个买卖日，北向资金借道沪深港通大手笔净买入A股逾319亿元。外资加仓的标的中，除了传统外资偏好的格力电器、五粮液等大白马股外，部分创业板股票取得重视。组织表明，在创业板有望归入MSCI指数的预期之下，海外资金关于创业板的增配将是大势所趋。

10.AccordingtotheEconomicDailyNews,inthenewlyreleaseddocument,theChinaBankingandInsuranceRegulatoryCommissionlistedthetypeofChinaPostalSavingsBankasa“state-ownedlargecommercialbank”,whichmeansthatthePostalSavingsBankofChinaofficiallyjoinedtheranksofstate-ownedbanksandwillcooperatewithICBC,AgriculturalBankofChina,BankofChina,ChinaConstructionBank,andBankofCommunicationsarealsoknownasthe“sixmajorstate-ownedbanks”.Uptonow,thePostalSavingsBankofChinahasnearly40,000businessservicestoresandserves565millioninpidualcustomers.

10、经济日报音讯，银保监会在最新发布的文件中，将中国邮政储蓄银行的组织类型列为“国有大型商业银行”，这意味着邮储银行正式参加国有大行的部队，将与工商银行、农业银行、中国银行、建设银行、交通银行一同，并称为“国有六大行”。到现在，邮储银行具有近4万个营业点，服务个人客户达5.65亿户。