The economy of the Mainland will slow down
Officials from the Ministry of Industry and Information Technology predicted yesterday that the gross domestic product (GDP) of the mainland next year will grow at an annual rate or fall to 6%. In view of this, various departments in the Mainland are speeding up the introduction of measures to stabilize the macro economy.
Mainland authorities are speeding up the introduction of various economic stabilization measures
Xie Sanming, deputy inspector of the Operation Monitoring and Coordination Bureau of the Ministry of Industry and Information Technology, expects that the economic growth of the mainland may slow down slightly next year. The drop also includes the growth rate of industrial added value above designated size. However, in order to promote the stable development of the economy, the news of the new policy of expanding consumption and stabilizing the property market has continued. Among them, the Development and Reform Commission has issued opinions on the implementation of tourism consumption, requiring increased investment to increase the supply of tourism products, and reminded enterprises to implement the paid holiday system.
In addition, recently Zhangjiagang City, Jiangsu Province, and Shenzhen City have successively spread the news that the property market has been “unbundled”. Even though Zhangjiagang City cancelled the restriction on the sale of commercial housing on Wednesday, which is only a one-day limitation, the market has been closed on Thursday, reflecting that the local property market ’s new policy of regulation and control has again changed, but it is expected that the restrictions on domestic purchases will gradually be relaxed.
Registration system to be launched soon
It is worth noting that the action plan for the Shenzhen Pioneering Demonstration Zone was officially released, and specifically proposed to actively promote the early launch of the Shenzhen GEM registration system reform. At the same time, it also stated for the first time that “the preparations for the comprehensive implementation of the registration system reform in Shenzhen will be well prepared.” Stimulated by the news, the GEM index rose 0.9% at most yesterday, but still closed up 0.16% at 1,720 points.
However, the Shanghai Composite Index was under pressure, closing at 2,915 points, down 0.3%, ending a five-day rally. The Shenzhen Composite Index also closed down 0.17% at 9,836 points. The Shanghai and Shenzhen stock exchanges traded approximately 448.8 billion yuan. The Shanghai-Shenzhen Stock Connect traded a total of RMB 6.521 billion in net purchases, the most in a single day in three weeks.