1. The Ministry ofFinance of the People’s Republic of China reported thatin August, the country issued 883 billion yuan of localgovernment bonds. Among them, the general bonds were 356.4 billion yuan and thespecial bonds were 526.6 billion yuan. From January to August, the country issuedlocal government bonds of 3.0508 trillion yuan. Among them, the general bondswere 1.961 trillion yuan and the special bonds were 1.0898 trillion yuan. As ofthe end of August, the national local government debt balance was 17.6684trillion yuan, and the average remaining life of local government bonds was 4.6years.
1、财政部消息，8月，全国发行地方政府债券8830亿元。其中，一般债券3564亿元，专项债券5266亿元。1－8月累计，全国发行地方政府债券30508亿元。其中，一般债券19610亿元，专项债券10898亿元。截至8月末，全国地方政府债务余额176684亿元，地方政府债券剩余平均年限4.6年。
2. SecuritiesDaily News, the proactive fiscal policy should be more active, and it isnecessary to reduce the burden by reducing the tax and fees. Experts believethat this means new measures for tax and feereduction will be introduced, and the scale of tax and fee reduction for thewhole year will exceed the target of 1.1 trillion yuan set at the beginning ofthe year.It is recommendedto further reduce the VAT rate and combine tax rate categories. At the sametime, it is necessary to reduce the corporate income tax rate and socialsecurity fee rate.
2、证券日报消息，积极的财政政策要更加积极，要以更大力度通过减税降费为企业减负。专家认为，这意味着将会出台减税降费新措施，全年减税降费规模将超过年初制定的1.1万亿元目标。建议进一步降低增值税税率，简并税率档次。同时，还需下调企业所得税率和社保费率。
3. People’s DailyNews, a recent study by the International Monetary Fund pointed out that the US trade dispute with other economies may cause theglobal economic growth to slow down in 2020, causing a potential loss of US$430billion,while the USeconomy itself also becomes very fragile in the escalating tariff war. Tradebarriers can hinder investment, raise commodity prices, disrupt global supplychains, and slow the spread of new technologies, thereby reducing productivity.
3、人民日报消息，国际货币基金组织最近的一项研究指出，美国同其他经济体的贸易争端可能会造成2020年全球经济增速放缓，造成4300亿美元的潜在损失，同时美国经济自身在不断升级的关税战中也十分脆弱。贸易壁垒会阻碍投资，抬高商品价格，扰乱全球供应链，并减缓新技术的传播，从而降低生产率。
4. SecuritiesTimes News, at present, the third pillar of China's pension, personal pensionconstruction, has become quite urgent. At present, the government departmentsand academic department are working hard to promote the construction of thethird pillar of pensions. This year, tax deferred pension insurance has begunto be piloted. Individual pension accounts with tax incentives are expected tobe established on May 1 next year and open to insurance, funds, bank financingand other type of products. Chinese people willchange from “saving for the elderly” to “investing in the elderly”.
4、证券时报消息，目前我国的养老金第三支柱——个人养老金建设已具有相当紧迫性。当前政府部门和学界正致力推动建设养老第三支柱，今年税收递延养老保险已开始试点，明年5月1日具有税收优惠的个人养老账户有望建立并开放给保险、基金、银行理财等不同类型产品。国人将从“储蓄养老”向“投资养老”转变。
5. According to Shanghai Securities News, on September 21, the ChinaBanking and Insurance Regulatory Commission held a press conference on the“China Banking and Insurance Regulatory Commission to Further Improve theEconomic Efficiency of the Banking Industry and the Insurance Industry”. This isthe first systematic conference held after the merger of the China BankingRegulatory Commission and China Insurance Regulatory Commission. From January to August, the insurance industryprovided a total of 5,263 trillion yuan of risk protection for the wholesociety, with accumulated compensation and payment of 796.5 billion yuan. Thesupporting measures for new financial regulations are progressing as planned.
5、上证报消息，9月21日，银保监会召开《银保监会进一步提升银行业和保险业服务实体经济质效》发布会。这是银保监会合并后第一次联合召开的系统发布会。1月至8月，保险业累计为全社会提供风险保障5263万亿元，累计赔款和给付支出7965亿元。理财新规配套措施在按计划推进中。
6. According to Beijing Youth Daily News,WANG Youguo, the head of the Daxing District Government of Beijing, said thatDaxing District will regard the blockchain technology application industry asthe key development direction of the future industry and implement the"three ones" strategy, establishing one blockchain Ramp;D lab, establishing one fund forinvesting in the underlying technology of the blockchain, and open up a numberof government resources to provide blockchain technology application scenarios.
6、北京青年报消息，北京市大兴区政府区长王有国表示，大兴区将把区块链技术应用产业作为未来产业重点发展方向，并实行“三个一”战略。成立一个区块链研发实验室，建立一支投资区块链底层技术应用的基金，开放一批政府资源提供区块链技术应用场景。
7. According to the China Securities Journal,the recent market ushered a rebound at the low level. In the context of hotspots chaos and sector investment rotation, a hidden main line emerged: the logic of investing in low-pricedstocks.In September, for example, since thebeginning of the month, a total of 59 stocks in the two cities have risen bymore than 20%. Among them, there are 12 stocks with a stock price below 5 yuan,accounting for 20%. But investors need to keep in mind that cheaper prices donot mean good things. In the market environment of low-priced stocks, it isnecessary to use "fundamental as an anchor" to carefully identify thetrue value of low-priced stocks and avoid entering the "low price trap."
7、中证报消息，近期市场迎来低位反弹，在热点散乱、板块轮动较快背景下，一条隐藏的主线浮出水面：低价股逻辑。以9月为例，月初以来，两市共有59只股票累计涨幅超20%。其中，股价低于5元的有12只，占比20%。但投资者需谨记，价廉并不代表物美。在低价股遍地市场环境下，更要以“基本面为锚”，细心甄别低价股中真正的价值洼地，避免踏入“低价陷阱”。
8. The Ministry of Agriculture and Rural Affairs of the People’sRepublic of China issued an implementation opinion on supporting the greendevelopment of agriculture and rural areas in the Yangtze River Economic Belt. The 11 provinces (cities) in the YangtzeRiver Economic Belt are supported to implement the negative growth of pesticideuse, to build a batch of pest control system and green prevention and controlintegration demonstration base, rice field comprehensive breeding demonstrationbase. We should select a number of key counties to carry out the whole processof fruit and vegetable tea pests and greens prevention and control pilot,vigorously promoting a number of effective and easy-to-use green prevention andcontrol technologies and expanding the coverage of green prevention andcontrol.
8、农业农村部发布关于支持长江经济带农业农村绿色发展的实施意见。支持长江经济带11省（市）实施农药使用量负增长行动，建设一批病虫害统防统治与绿色防控融合示范基地、稻田综合种养示范基地，选择一批重点县开展果菜茶病虫全程绿色防控试点，大力推广一批行之有效简便易行的绿色防控技术，扩大绿色防控覆盖范围。
9. According to CN. stock, LUO Junjie,Ministry of Industry and Information Technology, said that in the aspect of newenergy vehicles, we will do a good job in the implementation of the "doublepoints system", improve the support policy system, accelerate thedemonstration operation of fuel battery vehicles, and strengthen the safety ofnew energy vehicles supervision inthe next step. In the aspect of intelligent networked vehicles, we willstrengthen technical cooperation and achieve innovation-driven development,improve policies and regulations, create a sound development environment, strengtheninformation security and protect the development of the industry.
9、中国证券网消息，工信部罗俊杰表示，下一步，在新能源汽车方面，深入做好“双积分制度”实施工作，完善扶持政策体系，加快推动燃料电池汽车示范运行，加强新能源汽车安全监管。在智能网联汽车方面，加强技术协同攻关，实现创新驱动发展；完善政策法规，营造良好发展环境；强化信息安全，为产业发展保驾护航。
10. According to Shanghai Observer, theLegislative Affairs Working Conference of the Shanghai Municipal People'sCongress Standing Committee was held on September 21. The legislative plan of the15th Shanghai People's Congress Standing Committee (2018-2022) was officiallyreleased. In the next five years, Shanghai will carry out 123 legislativeprojects,including the revision of the China(Shanghai) Free Trade Zone Regulations, Shanghai's historical and culturalfeatures and excellent historical building protection regulations, regulationsfor the management of taxi cars, etc.
10、上观新闻消息，上海市人大常委会立法工作会议9月21日举行。上海市十五届人大常委会立法规划（2018年－2022年）正式发布，未来五年上海将开展123个立法项目，包括修改中国（上海）自由贸易试验区条例、上海市历史文化风貌区和优秀历史建筑保护条例，制定出租车汽车管理条例等。
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