A week review
In the past week, the focus of the market has fallen in the development of the National People's Congress of the National People's Congress and the National Committee of the Chinese People's Political Consultative Conference (two sessions), as well as the dynamics of many central banks around the world.
Because the world economy is dragged down by the Sino -US and European and American trade war and Britain's prospects, the growth of the Brexit has slowed down.A paragraph may cut interest rates to start the prelude to the rescue economic battle.
As one of the protagonists of the trade war, the data released by the Customs Department yesterday showed that due to factors such as the Spring Festival holidays, high bases, and global economic slowdown, China's entrance and export in February were doubled, and it was far inferior to expected. Among them, exports were created.In the past three years, the largest decline; from January to February, the number of digits of imports and exports has declined year -on -year.
In addition, Caixin China February Service Industry Procurement Manager Index (PMI) fell to a four -month low; demand for low demand led to slowing down the growth of new business, and the industry confidence index also dropped to a three -month low.
At the same time, the Second Session of the Thirteenth National People's Congress, which has received much attention, opened on March 5.Under the stable and changing economic operation tone, the Chinese State Council Prime Minister Li Keqiang lowered the GDP's growth goal in the government work report, from about 6.5%last year to 6 in 2019 to 6%To 6.5%.
The government work report also announced the largest tax reduction plan in history. It is necessary to reduce corporate tax and social security payment burden of nearly 2 trillion yuan (RMB, Same, S $ 40.4 billion), which is higher than 2018.; The deficit rate increases to 2.8%, and the scale of special bonds for local governments has also increased significantly compared with last year.
Analysts pointed out that this shows that the Chinese economy faces severe challenges in 2019, and the importance of steady growth exceeds last year; the Chinese government thus increased its efforts in active fiscal policies and strives to reduce the manufacturing industry due to severe export situation and high domestic costs.In particular, the burden of small and medium -sized enterprises to ensure stable economic growth, thinking that it is possible to promote the creation of reforms in other fields.
China Finance Minister Liu Kun confirmed the above market analysis at a press conference in Beijing during the two sessions on April (7th).He said that with the decline in economic growth and inflation, the government will strive to ensure inclusive tax cuts this year, and focus on reducing the tax burden on manufacturing and small and micro enterprises.
Tax reduction and fee reduction is the top priority
He also said that tax reduction and fee reduction are the top priorities of active fiscal policy this year. In the world, no other country's tax reduction can be reached so high, and the actual burden reduction may be higher than the total prediction number in the government work report.Essence
To solve the problem of balancing fiscal revenue and expenditure.He said the government would start from two aspects.On the one hand, we must be an iron cock, and the money that should not be spent will not be paid.On the other hand, we must fight the iron abacus, spend the money that it should spend, and spend on the blade.
Analysts believe that from the data of the previous two months, the Chinese economy is still undergoing the bottom of the bottom. If the tax cut can be implemented, it will really promote the profitability of corporate profits and investment.In particular, the Sino -US trade friction showed signs of ease, and both parties were willing to reach an agreement. Therefore, China's economic growth is expected to gradually stabilize in the second half of the year, and it may even surpass the annual growth goals set by government work reports.
With the government tax reduction and other policy red envelopes, yesterday due to China's poor economic data and weak global markets, it crack down on market confidence.%.At the same time, due to the issuance report of the National Development and Reform Commission of China, it will speed up the fifth -generation communication network (5G) commercial use, and soon issue 5G licenses. Telecom stocks performed the best in the ten major industry classification indexes of the Shanghai and Shenzhen 300 index on the day, and rose up.3.6%.
Huawei, the leader of 5G equipment in China, took legal actions on Thursday to sue the US government.
A few days ago, Meng Wanzhou, the chief financial officer of Huawei, also sued the Canadian government to seriously violate her constitutional rights in the process of arresting her, in order to shake the credibility of her extradition case.
Western countries are worried that Huawei's telecommunications equipment may be used by China for espionage and tried to reject them. The United States has always accused it of helping China to engage in spy activities.
According to Reuters, compared with the relatively restrained response in the past, Huawei has adopted more proactive legal and public relations actions against Western countries.
Huawei is enough
A senior person in the Huawei Public Relations team told Reuters: We have enough.It is reported that the company is taking a more proactive approach to the US offensive.Huawei also opened a website that clarifies the facts outside the outside world and invited the media to visit its Shenzhen headquarters.
The report quoted Alexander Capri, a senior visiting researcher at the Singapore National University of Business School: Huawei is launching public relations flash; Hellip; spy charges the company's image.Or enter the Western market, the company will fall into a serious dilemma.
Chinese officials have supported Huawei's remarks.For example, Chinese Foreign Minister Wang Yi stated at a press conference of the National People's Congress yesterday that recently, the behavior of Chinese -specific enterprises is a deliberate political suppression. The official supports relevant enterprises and individuals to pick up legal weapons to protect their rights and interests.Because this is the right of all countries in the world to improve its own scientific and technological development level. China has also taken all necessary measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises and citizens.
However, interviewees and analysts are not optimistic about Huawei's victory.Because Huawei is not an ordinary company in the United States, and the tension of Sino -US relations now, politics will be an important factor in impact and decide the results of the lawsuit.
Shi Yinhong, a professor at the School of International Relations of Renmin University of China, judged in an interview with the United Morning Post that various claims about Chinese companies stealing American intelligence and the stolen American intellectual property rights in the United States are very arrogant, and American courts and judges will inevitably receive this kind ofPolitical atmosphere influence.
Wu Xinbo, Dean of the International Institute of International Issues of Fudan University, also said that the United States has linked Huawei to national security, increasing the complexity of the case, so it cannot be held too much expectations for Huawei to win the lawsuit.
