Eight central financial enterprises receive 360 billion yuan capital increase; Stock Connect list adjustments take effect today

Macro
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Summary · why it matters

Eight central financial enterprises successively announced capital increase plans on September 6, with a total amount of 360 billion yuan. The funds will be used to replenish core tier-one capital, involving Industrial and Commercial Bank of China, Agricultural Bank of China, the Export-Import Bank of China, China Export and Credit Insurance Corporation, China Life Insurance, People's Insurance Company of China, China Taiping Insurance, and China Reinsurance. Meanwhile, the list of eligible stocks under the Shanghai-Hong Kong Stock Connect southbound trading link was adjusted starting September 7, with 54 companies including Baidu Group added. In addition, the China Securities Regulatory Commission is soliciting public comments on measures for the administration of private fund offerings, proposing higher requirements for natural person investors in private funds under special circumstances. The National Financial Regulatory Administration is soliciting comments on a draft revision of the Insurance Law. On the industrial front, seven departments including the National Development and Reform Commission issued a plan to support technological innovation such as liquid cooling and heat dissipation, and to promote the green and low-carbon development of computing infrastructure. A report by the Food and Agriculture Organization of the United Nations shows that the global food price index rose 1.9 percent month on month in August, with sugar prices posting the largest increase of 11.9 percent month on month.

Impact on stocks 8

Aging Population · 1 stocks
Financials · 1 stocks
China Reinsurance(Group)Corp
1508
▲ PositiveCapitalrelevance

China Reinsurance is one of the eight central financial enterprises receiving a 360 billion yuan capital injection to replenish core tier-one capital.

Artificial Intelligence · 1 stocks
Others · 5 stocks
People's Insurance of China Ltd
601319
▲ PositiveCapitalrelevance

People's Insurance Company of China is among the eight central financial enterprises receiving a capital increase to replenish core tier-one capital.

Industrial and Commercial Bank of China Ltd
601398
▲ PositiveCapitalrelevance

Industrial and Commercial Bank of China is one of the eight central financial enterprises receiving a 360 billion yuan capital injection to replenish core tier-one capital.

China Life Insurance Co Ltd A
601628
▲ PositiveCapitalrelevance

China Life Insurance is among eight central financial enterprises receiving a capital increase to replenish core tier-one capital.

Off-coverage companies 1

China Export & Credit Insurance CorporationPrivate± Mixed
relevance