The market liquidity is abundant today can return 2800

1. Wen Jiabao: Firm implementation of positive fiscal policy and moderately easy monetary policy "comments" since September 2008, the world economy has suffered the most serious challenges since the Great Depression of the last century. In order to cope with the severe impact of the international financial crisis and promote steady and rapid economic development, China should adjust its macroeconomic policy orientation in time, implement active fiscal policy and moderately loose monetary policy, and quickly introduce a package plan to promote steady and rapid economic development. Under the impetus of these policies, the investment growth rate is accelerated, the industrial production growth is stable, the economic operation appears positive change, the situation is better than expected. While the fundamentals of economic recovery are not very strong, the sustainability of credit growth and the possible negative effects are also being considered while maintaining rapid credit growth. But the Prime Minister's speech confirmed China's determination and confidence to overcome the economic crisis.　　(This message is macro-positive) 2. NDRC brewing to stimulate private investment 20 comments "comment" as the saying goes: War brothers, battle father and son soldiers. In the face of the financial crisis, we must mobilize all the forces in the country to increase investment, in order to maintain economic growth. Starting last November, the government's 4 trillion economic stimulus plan plays an important role in the development of China's economy, but in the case of the global economic form is not optimistic, the government investment has not only not effectively driven private investment, but also has a certain crowding out effect on private investment, so that 40,000 of investment will not be realized. At the same time, the private investment will not be improved, the government investment would increase the national fiscal deficit, simply through government investment to stimulate economic growth is not a viable way of sustainable economic development. Therefore, to stimulate private investment and consumption, can effectively achieve the goal of expanding domestic demand. The development and Reform Commission brewing 20 suggestions to stimulate private investment, on the one hand, that private capital in the future may become the main force of economic growth, on the other hand, the government on the current economic forms of concern, need to introduce more policies to stimulate economic growth.　　(This message is a macro-neutral bias) 3. Liaoning Coastal Economic Belt development planning has been reported in the near future through the "comments" national implementation of regional development planning is gradually advancing, Caofeidian development zone, Shanghai's "two centers", Hercynian Economic Zone, Shenzhen comprehensive reform has been approved by the State, Jiangsu Coastal Area Development planning has been considered and adopted in principle at the State Council executive meeting on June 10. Today, Liaoning Coastal economic Belt will also be formed, the regional economic layout of the country reasonably completed, which will push China's economy into a new phase. The so-called "three senior, three": Refers to the Pearl River Delta, Yangtze River Delta and Beijing-Tianjin-Hebei region, "four oblique:" refers to the Beibu Gulf, the west coast of the strait, Jiangsu coastal and Liaoning Coastal. "Three big" in the reform and opening-up after the first development, is China's most economically developed areas; Four-oblique economic development and "three" compared to a certain gap, is expected to become the new engine of China's economy. As the eldest son of the Republic, he always came forward when the country needed him most, whether it was in the early days of the PRC or reform and opening-up. Development plan of Liaoning Coastal Economic ZoneInto the national strategy, will become an important part of Northeast revitalization planning, provinces by the impact of the world financial crisis and the Yangtze River Delta, the Pearl River delta relatively small, economic development faster than the Yangtze River Delta and the Pearl River Delta, the new growth of China's economy, which from the first quarter of Liaoning GDP growth rate of 9.5%, Far higher than other coastal areas can be proved, and Liaoning coastal economic Belt development planning will make this old industrial base glow youth. It is suggested to pay attention to the stock trend of relevant listed companies in this area.　　(This message for macro and regional plate positive) 4. In May, total retail sales of consumer goods grew 15.2% "comments" The total retail sales of consumer goods reflects the domestic consumption situation, as a driving Chinese economy "troika", consumption is more and more attention, especially in the export growth rate of 7 consecutive months decline in the case, The importance of stimulating the economy by boosting consumption is getting stronger and bigger. May Total retail sales of consumer goods increased by 0.4% in April, after deducting the actual year-on-year growth rate after the price factor, the actual consumption growth rate is almost November 08 level. The chain of data, May retail sales of consumer goods has been in the high level for 3 consecutive months, the trend of high consumption growth has been sustained. Compared with the last month, in addition to communications equipment, other than the various categories of commodity growth has increased to varying degrees, including clothing, household appliances and audio-visual equipment, furniture, gold and silver jewelry category, automotive commodity growth has increased significantly. The current high growth of retail sales of consumer goods reflects the impact of home appliances, car policies and real estate sales rebound on consumption, attention to furniture, gold, automobiles and other industries growth rate of the industry, (the news for the macro and industry positive) 5. Central bank: The macroeconomic heat index rebounded for the first time in 5 quarters. The macroeconomic heat index was 38.6% per quarter, close to the lowest level since 1993; A 7.8% rise in the second quarter suggests that the country's economic stimulus package, which has been set up since the second half of last year, is about to pass. But a careful analysis of the economic data released in May is a mixed concern. Joy is investment, consumption both accelerate, worry is that prices, imports and exports continue to fall, the foundation of economic recovery is still not solid. The next step is to focus on whether government investment can smoothly guide civil and social funds to follow, while monetary policy to maintain stability, the implementation of policy and industrial restructuring is expected to become the focus of policy.　　(This message is macro neutral bias) 6. The motherboard versus the Gem 1 trillion capital scramble "comment on" the reform of the new shares, meaning the IPO restart imminent. And the management of the statement also ended the previous on the Gem and the motherboard before the start of suspicion, after all, the stock market has risen since the end of last year, the market value of 11 trillion to 20 trillion, the highest valuation level in the world, from the prevention of market bubbles and meet the financing needs of the real economy, Board IPO prior to the gem advantages outweigh the disadvantages. Although restarting IPO does not change the long-term trend of the market, but in terms of short-term market, will increase the pressure of market adjustment. On the one hand, for ordinary investors, IPO restart in the current market short-term trend is not clear, will increase the general investors to short-term financial pressure worries, thus leading to some risk-averse investors in the short term to market-oriented attitude; On the other hand, given that the guidance draft makes it difficult to change the high yield characteristics of the primary market, And the two-tier market for 7 consecutive months, the current market valuations higher, systemic risk accumulation background.　　(This message is market-biased) 7. Malaysia Central bank and other three foreign institutions to obtain QFII qualification "comments" "Some people resign home, some starry night exam tide, use this sentence to describe the current institutional trends, especially QFII, not for too. Yesterday, media reported that the May QFII did not open a new family, or even net redemption, indicating that the QFII began to be cautious. "The place of speech" may be true, "exam tide does not necessarily enter, that is to say, three foreign institutions obtained QFII eligibility, and not necessarily immediately enter the operation, at present point of no one is unwilling to sedan, otherwise the May QFII how did not open a household, perhaps these three qfii also waiting for opportunities, but as long as the eligibility, There will be access opportunities, the A-share market needs is capital.　　(This message is market neutral preference) 8. Liquor Consumption tax adjustment at the end of the month to increase the amount of tax increases stimulate the winery "comments" the first 4 months of this year, the national revenue fell 9.9%, the same period of increase in spending 31.7%; To this end, media reports, the Ministry of Finance is studying excise tax and other tax changes to ease the pressure, which is to improve the liquor industry consumption tax. At present, China's liquor industry levy is mainly excise tax, liquor consumption tax rate includes 20% of the price and 0.5 yuan/kg of the amount of tax. Although the adjustment tax rate has not changed, but once the consumption tax on the basis of tax price, the total amount of tax will increase accordingly. Liquor consumption tax adjustment is mainly due to the impact of the economic crisis, the state tax more tight, tax pressure, in order to avoid excessive tax decline, through the adjustment of consumption tax to increase tax sources. For manufacturers and distributors, the transfer of burden, the cost of transferring to consumers has become a choice for those who have a higher brand awareness, with monopolistic characteristics of the liquor manufacturers. Raising prices can cover not only costs but also profits. such as: Maotai, Wuliangye (000858, shares bar), etc. (the message macro-negative, but the brand-effect of the listed companies good) 9. Last Friday, the U.S. stocks were mixed. "Comment on" the dollar rebound, commodity prices fell, while the U.S. stock market continued high volatility, for the security of funds, investors to transfer funds to defensive stocks, the standard and poor 500 index set a 7-month new record, The fall in oil prices was mainly related to the second consecutive month of OPEC's announcement of May output. Although U.S. stocks9,000 points has not broken through, but its high stability to a a-share market has a certain consolation, a a-share and the surrounding market is weak linkage, one is the first a-shares to rise, the valuation stands out, the second is a a-share market IPO restart imminent. What is the A-share market, or is it the inherent laws.