The Customs Tariff Commission of the State Council issued a notice yesterday on the 2020 import tentative tariff adjustment plan and other adjustments
In order to expand imports and adjust the import tariffs on some commodities starting from January 1, next year, the implementation of 859 items (excluding tariff quota products) was below optimal. The tentative tax rate for imports at the national tax rate; starting from July 1, next year, the tentative tax rate for the import of 7 information technology products will be cancelled. The notice states that China will moderately increase the imports of daily consumer goods that are relatively in short supply in the Mainland or have foreign characteristics, and increase or reduce the provisional tax rate on imports of frozen pork and other commodities; in order to encourage the import of resource products in the Mainland that are in demand, add or reduce some timber And paper products import provisional tax rate. In order to reduce the cost of medication, zero-tariffs are applied to alkaloids used in the treatment of asthma and raw materials for the production of new drugs for the treatment of diabetes;
The good news from China-US trade has boosted corporate confidence and prospects for oil demand
The data shows that the US economy grew by 2.1% in the previous quarter, which was mainly supported by the strong labor market. It reflects that the economy has basically maintained a moderate pace of expansion at the end of the year. Coupled with optimism about trade negotiations, the market expects the Fed will not cut interest rates again for the time being. Thanks to the conclusion of the first-phase trade agreement between China and the United States, the performance of the US economic data, and market expectations that the Federal Reserve will keep the interest rate unchanged, some investors who have left the market have switched to the market again, pushing the New York stock market to continue to break the top .
Performance of gambling stocks is down
Macau ’s gross gaming revenue in November was 22.877 billion patacas, a year-on-year decrease of 8.5% and a two-month losing streak; cumulative gross gaming revenue from the beginning of the year to November decreased by 2.4% year-on-year. The survey showed that Macau’s hotel occupancy rate and room rates weakened year-on-year in December. Considering the market’s general expectation that December’s gambling revenues would fall by 10% year-on-year, the numbers are not surprising. However, the decline in gambling stocks is not just a matter of recent months. Based on the results of various gambling stocks, although the period and data interpretation are slightly different, they all reflect that the VIP room business has weakened significantly this year. The number of VIP room turnovers of individual gambling stocks has fallen by more than 30% year-on-year. In the third quarter, it means that it has little relationship with the recent social movements in Hong Kong, but a trend. On the contrary, the general midfield business has not had much impact, and generally has a moderate increase.
However, the stock price of gambling stocks has soared in the past, mainly driven by the growth in VIP room revenue. Fitch lowered Macau ’s credit rating outlook from “stable” to “negative”. It is expected that Macau ’s economy will fall by 2.5% this year, largely due to the decline in gaming revenue. Although the central government ’s measures to benefit Macau, such as raising the limit for remittances returned to the mainland by Macao residents, only have a neutral impact on Macau ’s development, and have not stimulated the gaming industry, from the perspective of the central government ’s support for Macau, it is beneficial for short-term gambling stocks. The atmosphere of the market.
The Hang Seng Index turned quietly to close on Friday from active trading early last week. The market is still looking forward to the signing of an agreement between China and the United States at the beginning of next month, coupled with entering Christmas week this week, with fewer trading days. The trading of Hong Kong stocks is weak, but according to the trend of Hong Kong stocks last week, the short-term adjustment in the market may not be significant. Although the city’s People’s Bank of China intends to lower the deposit reserve early next month, investment sentiment tends to be optimistic, but Hong Kong stocks have fluctuated by nearly 2000 points so far this month. During the remaining trading days of the year, Hong Kong stocks are expected to stabilize.