1、中國3月財新服務業PMI 52.2，前值51.2；財新綜合PMI51.3，前值49.4，超過50臨界值，創下11個月來最高值；財新服務業就業分項指數從51.3跌至48.9，為2013年8月以來首次落入萎縮區間。滙豐屈宏斌點評稱，穩增長初見成效，但就業形勢依舊嚴峻，加之外需繼續走弱，經濟回暖基礎不穩。
The former value of China Caixin services PMI 52.2 in March was 51.2; the forme rvalue of Caixin composite PMI 51.3 was 49.4, which was beyond the critical value of 50 and became the highest value within eleven months; the employment subindex of Caixin services fell from 51.3 to 48.9, which fell into the range of shrinking for the first time since August 2013. HSBC Qu Hongbin, evaluated that the steady growth has achieved its initial success, but the employment situation remains grim with a continuously weakened overseas market demand, sothe foundation for an economic rebound is still unstable.
2、社科院餘永定認為，如果要避免一場令結構性調整非常難以實施的經濟硬著陸，就得推動成長，就需要另一項通過基礎設施投資刺激來提高總需求的方案。其成功的關鍵是主要利用政府債券而非銀行信貸來為項目融資。為配合這種方式，央行應該將貨幣政策的中期目標從擴大貨幣供應量轉為降低基準利率。
Academy of Social Sciences Yu Yongding believes, that in order to avoid a hard landingfor the Chinese economy, which is very difficult to implement structuraladjustments, it needs to promote the growth, and it needs another plan toincrease aggregate demand through the stimulation of infrastructure investment.The key to success is that it mainly uses government bonds rather than bankcredit to finance the project. In order to cooperate with this approach, thecentral bank should adjust the medium-term objective of monetary policy fromenlarging the money supply to lowering the benchmark interest rate.
3、國泰君安任澤平認為，2016年通脹將小幅回升，預計CPI在2.5%-3%之間，但不會持續突破3%的警戒線。這種溫和的物價回升有利於企業盈利的邊際改善，但尚不會引發貨幣政策轉向收緊。考慮到流動性溢價和股市釋放風險已十個月，A股未來可能正進入震蕩築底階段，目前是存量博弈下的結構性行情。
GuotaiJunan Securities Ren Zeping believes that inflation in 2016 will rise slightly.The CPI is expected to be at 2.5% - 3%, but it will not continuously exceed 3%of the security line. This modest recovery in prices is in favor of marginalimprovement of corporate profits, but is yet to incur a tightened monetary policyshift. Taking into account the liquidity premium and ten months since the riskrelease of the stock market, A shares may enter into the stage of fluctuationbottoming, and is currently the structured market under the game of stock.
4、按減持新規，部分投資者誤以為2016年4月8日又是一個解禁到期日。安信證券分析師徐彪等發布報告稱，證監會此前發布的《減持規定》的「三個月」是個動態概念，不是特指1月9日後的三個月內這一段時間，所以不會造成4月集中到期的風險。
According to the new regulations of reducing share holdings, some investors mistakenlythink that April 8, 2016 will be the due date for lifting the ban. EssenceSecurities analyst Xu Biao and others said in a report, "threemonths" of "the provision of reducing holdings" issued by ChinaSecurities Regulatory Commission is a dynamic concept, because it does notparticularly mean the period of time within three months after January 9th, itwill not cause the risk of concentrated expiration in April.
5、瑞信董事總經理兼亞洲區首席經濟分析師陶冬表示，中國政策今年專注穩定經濟增長，房地產市場及人民幣匯率轉趨穩定，中國短期經濟前景恢復穩定。中國多年信貸擴張，透過「債轉股」方案可以處理龐大的不良貸款。
Managing Director, Chief Economist in Asia of Credit Suisse Tao Dong said that Chinesepolicy focuses on stable economic growth this year. The real estate market andthe RMB exchange rate have trended to stabilize, and short-term economicprospects for China is to restore stability. Many years of credit expansion inChina can deal with huge non-performing loans through the program of "Debtfor Equity Swap" .
6、一財消息，根據業內人士的說法，部分銀行的想法是，希望能在朝陽產業或存在發展空間的行業中，選擇有核心資產、能被資本市場認可的企業，與投行聯手，通過資產重組等方式，對關注、可疑、次級三類貸款進行債轉股。同時，在完成債轉股之後，退出渠道、方式，是否同樣設定限售期，都要政策予以明確。
YICAInews, according to insiders, some banks are hoping to choose the corporationwith core assets and can be recognized by the capital market in the sunriseindustry or the industry with the presence of development space; to cooperatewith investment banks, and conduct the Debt for Equity Swap on three kinds ofloans which need attention, suspiciousness and subprime through assetrestructuring. Meanwhile, it also needs the policy to be clear whether or notto set a restricted stock trade period for exiting channels and methods afterthe completion of Debt for Equity Swap.
7、工信部、發改委、財政部等三部委近日聯合印發了《機器人產業發展規劃（2016-2020年）》，加大財稅支持力度，拓寬投融資渠道，支持符合條件的機器人企業直接融資和併購，積極培育龍頭企業，支持網際網路企業與傳統機器人企業跨界融合。
Ministry of Industry and Information Technology, National Development and ReformCommission, Ministry of Finance, the three ministries have jointly issued the"robot industry development plan (2016-2020)" to increase the supportof fiscal taxation; expand investment and financing channels; support thedirect financing and mergers and acquisitions for eligible robot industries;actively cultivate leading enterprises, and support the cross-borderintegration between Internet companies and traditional robot industries.
8、中國期貨業協會數據顯示，3月份螺紋鋼成交1.55億手，同比增長276.15%，環比增長304.12%。鋼材三大期貨上市品種之一熱軋卷板成交也非常活躍，成交量為310萬手，同比增長1939.3%，環比增長294.27%。
China Futures Industry Association data shows that the turnover of screw-thread steelwas 155 million shou in March, a year-on-year increase of 276.15%, a sequentialgrowth of 304.12%. One of three futures listing varieties in steel, theturnover of SPHC was also very active, and the trading volume was 3.1 millionshou, a year-on-year increase of 1939.3%, a sequential growth of 294.27%.
9、經濟參考報消息，與預算改革、稅制改革同屬於財稅改革三大重點任務之一的中央和地方關係改革正在推進。目前，中央和地方收入劃分過渡方案正在徵求意見。根據過渡方案的徵求意見稿，營改增之後，增值稅收入或由中央與地方五五分成。
Economic Information Daily news, fiscal reform together with budget reform and taxreform all belonged to one of the three key tasks, the reform of central andlocal relations is being promoted. Currently, the transition program ofdividing the central and local revenues is asking for opinions. According tothe exposure draft of the transition program, after the transition frombusiness tax to value-added tax(VAT), the VAT type revenue may be divided into50-50 by the central and local.
10、財政部和國家稅務總局發布關於部分國家儲備商品有關稅收政策的通知。通知指出，對商品儲備管理公司及其直屬庫資金帳簿免徵印花稅；對其承擔商品儲備業務過程中書立的購銷合同免徵印花稅，對合同其他各方當事人應繳納的印花稅照章徵收。
Ministry of Finance and State Administration of Taxation issued a notice on part of therelated tax policy of national reserve goods. The notice pointed out to exemptstamp tax towards the commodity reserves management companies and fundsaccounts of their subordinate storehouses; exempt stamp tax towards the documentedpurchase and sale contracts in the process of undertaking the commodity reservebusiness; levy in accordance with the regulations towards the payable stamp taxof other parties』 clients in the contract.
11、水利部5日召開網絡安全與信息化領導小組第一次全體會議，安排部署水利網絡安全與信息化重點工作。會議審議通過了《全國水利信息化「十三五」規劃》《水利部信息化建設與管理辦法》，以及水利部網絡安全與信息化領導小組工作制度和2016年工作要點。
Ministry of Water Resources held the first plenary meeting of Network Security andInformation Leading Group on 5th to make arrangements on key task of waterconservation network security and information technology. The meeting examinedand approved the " "13th Five-Year Plan" of the National WaterResources Informatization", "Water Resources Information Constructionand Management Measures" and the work system of the water conservationnetwork security and information technology leading group and the working focusin 2016.
12、快鹿集團宣布，投資收購金鹿財行與當天財富。承諾兩周內公布首期50億元兌付資產的明細。針對理財產品的還款來源，快鹿方面表示，一是票房收入，二是貸款項目的還款收入，三是投資資產處理套現，其中大部分資產兌付來自投資資產處理套現。
KUAIL Uannounced to invest and purchase Jinlu Financial Advisor and Dangtian Wealth.It promised to publish the detail of the first phase of five billion yuanredemption assets within two weeks. For the repayment source of financialproducts, the KUAILU side said one is the box office income; the second is therepayment income of the loan projects; the third is investment assets dealingwith cash processing, and most asset redemption came from it.
13、6日，中國多屏文化娛樂領軍企業合一集團（優酷土豆）宣布，合一集團與阿里巴巴集團已完成合併交易，正式成為阿里旗下全資子公司。合一集團董事局主席古永鏘表示，私有化的目標是3年之內優酷土豆能在國內資本市場上市。
Chinese multi-screen culture and entertainment leader group, YOKU (Youku Tudou)announced that YOKU with Alibaba had completed the merger transaction, andofficially became a wholly owned subsidiary under Ali. Chairman of the Board inYOKU Gu Yongqiang said that the goal of privatization is that Youku and Tudoucan be listed in the domestic capital market within three years.
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