National fiscal revenue increased by 24.2% year-on-year
On April 21, the Ministry of Finance announced the fiscal revenue and expenditure in the first quarter of this year: the national general public budget revenue was 571.5 billion yuan, a year-on-year increase of 24.2%, an increase of 6.4% compared with the same period in 2019, and an average increase of 3.2% in two years. The relevant person in charge of the Ministry of Finance stated that fiscal revenue has achieved restorative growth.
In the first quarter, national tax revenue increased by 24.8% year-on-year and 4.3% year-on-year. Among them, domestic value-added tax increased by 23.9% year-on-year; the national general public budget expenditure was 5,870.3 billion yuan, a year-on-year increase of 6.2%. The “three guarantees” and other key points Expenditure grew rapidly, among which expenditures on education, health, social security and employment increased by 13.8%, 8.3%, and 6.1% respectively. (Website of the Ministry of Finance) ｜Reviews｜ The fiscal revenue in the first quarter achieved a year-on-year growth of 24.2%, mainly due to the low income in the same period caused by the new crown pneumonia epidemic last year. It is worth noting that due to the active securities market, the securities stamp duty in fiscal revenue increased by 94.2% year-on-year, and this item alone was a net income of 88 billion yuan. The increase in fiscal revenue has ensured that the country can continue to implement tax and fee reduction policies for small and medium-sized enterprises. Although the epidemic has passed, many small and medium-sized enterprises are still under tremendous pressure. Therefore, relevant policies will continue for some time. From this perspective, it is expected that the growth rate of fiscal revenue in the next quarter may be reduced. In the first quarter, the national per capita disposable income of residents was 9,730 yuan According to news on April 22, the National Bureau of Statistics updated and released data on the per capita disposable income of residents in 31 provinces in the first quarter, with Shanghai, Beijing, and Zhejiang ranking the top three. In the first quarter, the national per capita disposable income of residents was 9,730 yuan, a nominal year-on-year increase of 13.7%. The national median per capita disposable income of residents was 8,014 yuan, an increase of 12.7%. In the first quarter, the national per capita disposable income continued the trend of increasing quarter by quarter since the same period last year, maintaining stable and restorative growth. At the same time, on the basis of sustained and stable recovery of residents’ income growth, residents’ consumption expenditure rebounded sharply year-on-year. Data show that in the first quarter, the national per capita consumption expenditure was 5978 yuan, a nominal increase of 17.6%, and a decrease of 8.2% in the same period of the previous year. In terms of growth trends, in the first quarter, household consumption has reversed the four consecutive quarters of decline since the same period last year, showing a recovery growth trend. (China News Network) ｜Comments｜ Increase in national income is the guarantee for stable economic development. What’s exciting is that my country’s per capita income rose steadily last year. The first quarter’s household consumption data reversed the downward trend in the past year and started to grow, although it has not fully recovered to the level before the epidemic. It is foreseeable that stimulating the recovery of consumption is still the focus of the government’s work. However, judging from the recent central bank reverse repurchase and MLF’s stable style, monetary policy is quite cautious, and it is expected that there will be no much action in the near future. Therefore, there should be a relative slowdown in import and export, or some adjustments in taxation policies. Real estate tax is not included in this year’s legislative plan On April 22, the Standing Committee of the National People’s Congress announced the 2021 legislative work plan. In terms of tax legislation, it is clearly required that laws such as the Stamp Tax Law and the Customs Law be reviewed for the first time. However, in the real estate tax legislation that has attracted much attention from the market, this legislative plan is still not mentioned. In recent years, only the 2015 Legislative Work Plan of the Standing Committee of the National People’s Congress explicitly mentioned the real estate tax law as a preliminary project that year. Real estate tax will levy taxes on individual housing, so it has attracted much attention from the market. The current real estate tax legislation is drafted jointly by the Budget Working Committee of the Standing Committee of the National People’s Congress and the Ministry of Finance. In the legislative work plan of the Ministry of Finance this year, there is no mention of real estate tax legislation. (China Business News) ｜Reviews｜ The news of real estate tax has been so many years, the “boots” have never landed. This should be based on the fact that the market has only begun to recover after the current domestic epidemic, and there is a lack of a legislative social environment. After all, the impact of real estate tax on the real estate market is too great, which is not conducive to the orderly progress of the 14th Five-Year Plan. In addition, we must also see the trend of negative population growth. After ten or twenty years, housing demand will decrease, housing prices will inevitably be affected, and real estate taxes will also have an impact on the market. However, how to rationally allocate the real estate resources in hand is a problem that people need to consider now. The VAT exemption period for sales of houses in Guangzhou is increased to 5 years On the evening of April 21, the General Office of the Guangzhou Municipal People’s Government issued a notice on improving the policy for the steady and healthy development of the real estate market in Guangzhou. The notice clearly stated that the VAT exemption period for individual sales of houses in 9 districts including Yuexiu District, Tianhe District, and Baiyun District will be increased from 2 years to 5 years; in addition, talent purchasers must provide 12 consecutive months of payment of social guarantees, and no repayment is allowed. The above policy will be implemented on April 22. This is after the beginning of April, Guangzhou has introduced another property market regulation and control policy. On the evening of April 2nd, Guangzhou issued a document stating that newly purchased housing (including newly-built commercial housing and second-hand housing) by enjoying the talent policy will extend the sales restriction period from 2 years to 3 years. (Broker China) ｜Reviews｜ This time Guangzhou further introduced a regulatory policy, which should be in response to the request of the Ministry of Housing and Urban-Rural Development. Earlier, Guangzhou was one of the five cities that the Ministry of Housing and Urban-Rural Development asked to resolutely curb speculative real estate speculation, which shows that there is still pressure on its property market regulation. In fact, among the five cities interviewed, only Dongguan’s property market regulation is relatively strict, and the four cities including Guangzhou are relatively loose. Guangzhou’s upgraded regulatory policies have also filled a loophole in talent purchases. Talent purchases must be paid for one year of social security, which can stop the behavior of “fake talents” in real estate speculation, which has a clear direction. TeslaPublish pre-accident data of rights protection vehicles At about 4:30 pm on April 22, Tesla disclosed the data one minute before the accident of the Shanghai Auto Show rights protection accident vehicle, and made a text explanation. The note pointed out that when the driver stepped on the brake pedal for the last time, the data showed that the speed of the vehicle was 118.5 kilometers per hour. After the driver stepped on the brake pedal, the vehicle speed continued to decrease, and before the collision, the vehicle speed was reduced to 48.5 kilometers per hour. In addition, with regard to the condition of the vehicle 30 minutes before the accident, Tesla said: In the 30 minutes before the accident, the driver drove the vehicle normally and had more than 40 records of depressing the brake pedal. More than 100 kilometers per hour and multiple stops occurred. (Comprehensive China Market Supervision News) ｜Reviews｜ Under the high attention of the whole society, Tesla finally announced the technical data and text descriptions before the accident vehicle accident. From its unilateral discussion, it does not seem to be like the brakes that the rights defenders claimed before. , More like the driver himself is suspected of speeding. Of course, this is only a side word of the enterprise, and then a third party is required to participate in the test before an authoritative conclusion can be made. However, if the facts are that there are operational problems with the rights protection vehicles themselves, then Tesla cannot be blamed blindly. After all, what we ultimately hope to see is a fair and reasonable result. Tsinghua University established “Chip Academy” On April 22, the School of Integrated Circuits of Tsinghua University was formally established. In the future, it will be committed to solving the “stuck neck” problem of current chips, and is determined to prevent China’s semiconductor industry from being “stucked” in the future. The college will become an important base for my country’s integrated circuit talent training, and is expected to provide strong talent support for the localization of the semiconductor industry. According to incomplete statistics, there are as many as 27 well-known Tsinghua-based chip companies with a total market value of 600 billion yuan. In the most cutting-edge chip research in the world, the Tsinghua team has also achieved fruitful results. (China Youth Network) ｜Reviews｜ The global “chip shortage” crisis that began in the first half of 2020 has made China more aware of the importance of chips, and at the same time, it also realizes that in these core industries, it cannot be stuck. Taking advantage of this moment, China must be more aggressive, cultivate its own chip talents, and build its own chip industry chain. Of course, this will not happen overnight, but no matter how difficult it is at the beginning, we must take a step forward. Taking a path of your own semiconductor industry, the establishment of a “chip academy” is only one step, and there are many other things to do. Beijing Culture (000802.SZ)Law Enforcement Corps: To Douyinquick workerKey supervision On April 22, at a press conference on the status of intellectual property protection in Beijing, Wang Ningzhi, deputy chief and second-level inspector of the Beijing Cultural Market Comprehensive Law Enforcement Corps, stated that the Cultural Market Comprehensive Law Enforcement Corps continued to strengthen the classification and supervision of websites and monitor the Internet. The entire network is dynamically monitored in key areas such as literature, video, music, animation, and games.IQIYI, Douyin, Kuaishou and other nationally influential video websites are under key supervision. The Beijing Cultural Market Comprehensive Law Enforcement Corps will inspect 18,000 websites (times) in 2020, close 13 infringing and pirating websites, deleting 8 million infringing and pirating links, and destroying more than 200,000 infringing and pirated books. (Comprehensive Beijing Business Daily) ｜Reviews｜ The short video industry is in full swing, and the corresponding intellectual property issues have also attracted attention. In particular, some short video websites used extensive use of film and television material from the media, which, strictly speaking, constituted infringement and caused strong dissatisfaction in the film and television industry. Relevant departments are focusing on supervision of video websites with national influence such as Douyin and Kuaishou because of their large number of users, fast transmission speed, and wide range, which can achieve a multiplier effect with half the effort. In this regard, relevant platforms should be highly valued, otherwise it may have a serious impact on its content production and industrial development. The three major A-share indexes split again on Thursday On April 22, the three major indexes opened higher and dived to a collective green after the opening. In terms of sectors, the medical aesthetics concept sector continued to be strong, and the steel sector led the two markets; nearing the end, the index rebounded.gemThe performance was relatively strong, rising by more than 1% at one time. In terms of sectors, the food and beverage sector was strong, while the liquor sector fell. In the afternoon, the three major indexes continued to trade sideways. The trend of the indexes remained differentiated. The ChiNext board performed strongly. In terms of sectors, the medical and aesthetics sector continued its strong momentum, the digital currency moved up, and the semiconductor sector collectively strengthened. As of the close,Shanghai IndexFell 0.23% to 3465.11 points, with a turnover of 317.1 billion yuan;Shenzhen Component IndexIt rose 0.41% to 14,209.44 points, with a turnover of 423.8 billion yuan; the Chuang Index rose 0.77% to 2939.39 points, with a turnover of 145.4 billion yuan. (Sina Finance) ｜Reviews｜ On Thursday, the A-share market showed another trend of differentiation between Shanghai and Shenzhen. The downturn in the weight sector made it more difficult for the index to break through. However, there was no deep intraday correction during the shock period, indicating that the current market atmosphere is still warm , The probability of selecting the direction upward after the adjustment is over is increasing.The profit-making effect in terms of disk characteristics is not yetIdeal carThere is no change in hotspots with sustainability. Other news-driven hotspots have little value. The continuity of individual industries (such as steel and securities firms) remains to be observed. The rapid recovery of China’s economy in the post-epidemic era shows that many industries that have rebounded at a high speed have already had a clear response to their share prices. You might as well pay attention to related sectors. The content of stock market and futures in the article is for reference only Does not constitute investment advice 
Duty Editor | Chen Wei | Chen Zhe | Column Editor | Wei Yingjie Chief Editor | He Mengfei | Chief Editor | Zheng Yuanmei
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