Femorning Daily 18.3.2017

"Government Work Report" drafting group member, deputy director of Research Office of the State Council, Han Wenxiu, said that the economic growth target of 6.5% is left adequate leeway. In addition, the housing prices in some individual places have a relatively obvious upward momentum recently, some local governments are also taking measures in succession.

General Administration Department of CHINA BANKING REGULATORY COMMISSION (CBRC) recently issued a notice, clarified relevant matters about foreign banks carrying out partial businesses. The notice stated that foreign-funded banks and Sino-foreign joint venture banks do not need to get administrative license from CBRC when carrying out treasury bond underwriting business in accordance with the law, but should report to the regulatory authorities within 5 days after the business being carried out. Those need to be approved by other departments according to the law should be done in accordance with their provisions.

Ministry of Commerce of the People's Republic of China issued a notice on the implementation of "the opinions of General Office of the State Council of the People's Republic of China on promoting the innovation and transformation of entity retail". The Ministry of Commerce will work with the relevant departments to specially issue the division plan of implementing the key work of the "opinions", organize and establish the contact system of national key retail enterprises, develop and issue shopping center development index and convenience store prosperity index, carry out "special survey on retail enterprise technology application" and recruit plans for technological innovation.

China Securities Journal online news, on March 17th, Share Price Index Futures (SPIF) IC1706 contract in early trading once hit the daily limit, which was a re-emergence of a suspected fat finger case. Prior to this, on March 14th, the main contract market of Shanghai 50 Stock Index Futures intraday trading abnormally changed and approached the limit down. Femorning Research Office believes that the two suspected fat finger cases showed the lack of market liquidity despite the operational errors.

BEIJING YOUTH DAILY news, on March 17th, BEIJING MUNICIPAL COMMISSION OF HOUSING AND URBAN-RURAL DEVELOPMENT, Beijing Municipal Commission of Urban Planning (BMCUP), Beijing Housing Provident Fund Management Center, Beijing Office of CHINA BANKING REGULATORY COMMISSION, and Operations Office of THE PEOPLE'S BANK OF CHINA jointly held a press conference stating that the Beijing property market regulation will be further upgraded. For the residents already having one set of housing in the city registered under his or her family, as well as the residents without housing in the city but with commercial housing loan records or provident fund housing loan records, the down payment ratio for the purchase of ordinary self-housing will be no less than 60%, the down payment ratio for the purchase of non-ordinary self-housing will be no less than 80%.