親愛的觀眾朋友大家好，今天是2016年3月12日，星期六，歡迎大家收聽今天的財經早餐。
Hello, ladies and gentlemen! Today is Saturday March 12th, 2016. Welcome to today's Femorning.
1、十二屆全國人大四次會議新聞中心將於3月12日（星期六）舉行多場記者會，上午10時，央行行長周小川，副行長易綱就「金融改革與發展」相關問題回答中外記者提問。14時30分，國資委主任肖亞慶就「國企改革」相關問題回答中外記者提問。16時15分，銀監會主席尚福林、證監會主席劉士餘、保監會主席項俊波回答中外記者提問。
The fourth plenary session of the 12th National People's Congress (NPC) press center will hold several press conferences at 10am on Saturday March 12th. Central bank Governor Zhou Xiaochuan and Deputy Governor Yi Gang will answer Chinese and foreign reporters' questions related to the "financial reform and development". At 14:30, the State-owned Assets Supervision and Administration Commission of the State Council director Xiao Yaqing will respond to Chinese and foreign reporters' questions concerning the "state-owned enterprise reform". At 16:15, the chairman of the China Banking Regulatory Commission Shang Fulin, chairman of the China Securities Regulatory Commission Liu Shiyu, chairman of the China Insurance Regulatory Commission, Xiang Junbo will respond to Chinese and foreign reporters' questions.
2、據央行公告，11日，央行以利率招標方式開展了200億元的7天逆回購，中標利率持平於2.25%。至此，本周公開市場實現淨回籠2050億，較上周大幅縮量。
According to the central bank announcement, the central bank will operate 20 billion yuan 7-day reverse repos through interest rate tender on 11th. The repo rate remains at 2.25%. Till now, the net currency withdrawn from circulation is at 205 billion in the open market this week, a substantial shrinkage compared to that of last week.
3、從發改委獲悉，「十三五」時期我國將把戰略性新興產業作為重要任務和大事來抓，要重點培育形成以集成電路為核心的新一代信息技術產業、以基因技術為核心的生物產業以及綠色低碳、高端裝備與材料、數字創意等突破十萬億規模的五大產業。
From the National Development and Reform Commission, during the period of the "Thirteenth Five Year Plan", China will make strategic emerging industries as a major and high priority task, with focus on fostering the formation of integrated circuits as the core for a new generation of information technology industry, genetic technology as the core for the biotechnology industry as well as green low-carbon, high-end equipment and materials, digital and creative breakthroughs with a scale of ten trillion for the five industries.
4、據證券日報報導，知情人士推測，北京、上海、深圳這三個一線城市已經在儲備政策，「兩會」後便可能出臺相應的調控措施，具體內容可能包括嚴格限購審核、擴大市場供應、打擊捂盤惜售、規範金融槓桿等，以抑制房價過快上漲。
According to Securities Daily, informed sources speculate Beijing, Shanghai and Shenzhen, the three top-tier cities, are already in reserve policies. The appropriate adjustment measures may be introduced after the "two sessions". The specific content may include strict audits for purchasing restriction, expanding market supply, combating property hoarding and regulating financial levers to curb the rapid rise of housing prices.
5、數據顯示，3月首周，上海全市商品住宅成交量環比上漲78.08%，創下了去年下半年以來的新高。在政策不斷傳出收緊的風聲時，多位房企人士表示，對當下的市場持「謹慎樂觀」的態度，會按照既定節奏推盤，快速去化在售項目，在需求窗口期「加速出貨」。
Data shows that Shanghai city's commercial housing turnover rose 78.08% in the first week of March, setting a new high since the second half of last year. When tightened policies continue to spread, a number of people in property enterprises said that they hold a "cautiously optimistic" attitude towards the current market, introduce houses in accordance with the established rhythm, sell on going projects rapidly and during the window for demand; 「hasten the delivery」
6、據經濟觀察報報導，南京市建議開發商從3月開始，對當地商品房銷售採取搖號程序，搖號規則由開發商自己把握，並要求注意購房秩序的安排。消息人士透露，搖號買房政策並不是由南京市政府統一搖號，而是由開發商自主搖號。
According to the Economic Observer, Nanjing recommends developers to use a lottery system for local real estate sales starting from the beginning of March. Rules for the lottery will be arranged by developers themselves, and are requested to pay attention to the purchase order arrangements. According to sources, The lottery policy for purchasing houses is not unified by the Nanjing municipal government, but to be taken by developers independently.
7、商務部表示，1-2月，全國實際使用外資1418.8億元，同比增2.7%。服務業實際吸收外資繼續增長。美國、日本、新加坡、英國、德國等對華投資顯現增長。外資併購交易日趨活躍，1-2月，以併購方式實際使用外資金額399.2億元，同比增長17.3%。
The Commerce Department said the actual use of foreign investment was 141.88 billion yuan from January to February, up by 2.7% year on year. The intake of actual foreign investment by the service industry continues to grow. The investment to China from America, Japan, Singapore, Britain, Germany and other countries has shown growth. The transaction of merger and acquisition foreign investment has become increasingly active. The actual use of foreign investment by mergers and acquisitions is 39.92 billion yuan from January to February, an increase of 17.3% year on year.
8、海通證券荀玉根認為，這次周期股行情之後可能有三種結局，一是類似12 年需求回升被證偽，周期股還要跌回去；二是政策發力，周期股出現需求改善，行情空間更大；如果第二種情景出現，下半年通脹可能會起來，最終政策收緊，出現類似11年式的下跌。
Haitong Securities Xun Yugen believes that there may be three outcomes after cyclical stocks. The first is similar to the demand for a rebound in 2012 which was falsified, so cyclical stocks will fall back; the second is the support from policy. Cyclical stocks will have an improvement in demand and enlarge market space; if the second scenario occurs, inflation is likely to rise up in the second half of the year resulting in an eventual tightened policy which is similar to the decline in the year of 2011.
9、從全國多省份財政廳廳長處了解到，財政部已下達今年置換債額度，多省獲得的額度高於今年到期債務規模，將提前置換今年未到期債務。多省份今年計劃發行置換債規模較去年增長約四成，個別省份債務置換規模高達去年的2.4倍。
From Finance Ministers in numerous provinces throughout the country, the Ministry of Finance has issued this year’s limit of replacement debt. The received amount limit in many provinces is higher than this year’s scale of due debts resulting in the earlier replacement of unmatured debt. The scale of replacement debt will be planed to be issued by many provinces growing to about 60% compared to that of last year. The scale of the replacement debt in some provinces is up to 2.4 times than that of last year.
10、據路透，央行副行長易綱在全國兩會間隙表示，貨幣政策總量還是穩健，局部偏松，比如通過抵押補充貸款（PSL）發放棚戶區貸款。今年政府工作報告提出，今年廣義貨幣M2預期增長13%左右，社會融資規模餘額增長13%左右。
According to Reuters, the central bank vice governor Yi Gang said on the sidelines of the two sessions, that the total amount of monetary policy is still steady but partially loose, such as granting loans to shantytowns by Pledged Supplementary Lending (PSL). The government work report presented, broad money M2 is expected to grow by about 13% this year, and the balance of social financing scale has grown about 13%.
11、進入猴年後，大盤仍然處于震蕩整理格局，截至10日收盤，今年以來滬指累計下跌21%。弱市中，滬指市盈率以及以滬深300為代表的藍籌板塊市盈率均已跌破2008年底部水平。基本面紮實的個股具有更強抵禦風險的能力。
After entering the year of the monkey, the market is still in a shock consolidation pattern. The Shanghai index has fallen 21% so far this year by the closing on 10th. During the period of a weak market, the price earning ratio of the Shanghai Index as well as the price earning ratio of blue-chip sectors represented by Hushen300 Index, have fallen to the bottom level of 2008. Individual shares with solid fundamentals have stronger ability to resist risks.
12、蘋果周四發出邀請函，定於3月21日召開發布會。預計屆時將發布4英寸新版iPhone、9.7英寸屏幕iPad Pro、新版Apple Watch軟體和IBand。新款手機看起來將會和iPhone5s相像，但具備更新配置，包括iPhone 6s的A9處理器。
Apple issued an invitation on Thursday to hold a press conference scheduled for March 21st. It is expected to introduce the new 4-inch iPhone, the 9.7-inch iPad Pro, the new Apple Watch software and IBand. The new iPhone will look similar to iPhone5, but with reconfiguration which includes the iPhone 6s A9 processor.
13、歐洲央行超預期公布寬鬆貨幣政策，全面下調利率走廊，並擴大QE。申萬宏源評論稱，歐洲央行此輪的舉措略顯激進，面對全球經濟疲軟，以及歐元區經濟復甦態勢偏弱，歐洲央行再放寬鬆規模。使得下周四凌晨美聯儲加息決策更難抉擇。
The European Central Bank (ECB) announces a loose monetary policy beyond expectation, including an overall decrease in the interest rate corridor and the enlargement of QE. Shenwan Hongyuan Securities commented that ECB’s move this round is a bit radical. The ECB approves easing in the face of weak global economy and the weak trend of euro zone economic recovery resulting in a harder choice for decision-making on raising rates by the Federal Reserve, next Thursday early morning.
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