Core Viewpoint - Guosen Securities (002736.SZ) announced that its subsidiary, Wanhe Securities, has received a filing receipt from the Hainan Regulatory Bureau of the China Securities Regulatory Commission for the cross-border asset management pilot business in the Hainan Free Trade Port [1] Group 1 - Wanhe Securities is recognized as an issuing institution to conduct cross-border asset management pilot business in the Hainan Free Trade Port [1]

Domestic News - The People's Bank of China and other departments have jointly issued the "Implementation Rules for Cross-Border Asset Management Pilot Business in Hainan Free Trade Port," which supports foreign investors in investing in financial products issued by financial institutions in Hainan Free Trade Port, including wealth management products, private asset management products, publicly raised securities investment funds, and insurance asset management products [1] - The latest Loan Prime Rate (LPR) published by the National Interbank Funding Center shows that the 1-year LPR remains at 3.0% and the LPR for 5 years and above is at 3.5%, both unchanged for two consecutive months [1] - The Ministry of Commerce expressed strong dissatisfaction and resolute opposition to the European Union's decision to include certain Chinese enterprises and financial institutions in the sanctions list during the 18th round of sanctions against Russia, emphasizing that such actions violate the spirit of consensus between China and the EU [2] Economic Data and Trends - In June, China's total electricity consumption reached 867 billion kWh, a year-on-year increase of 5.4%. The first industry consumed 13.3 billion kWh (up 4.9%), the second industry consumed 548.8 billion kWh (up 3.2%), and the third industry consumed 175.8 billion kWh (up 9.0%). Residential electricity consumption was 129.1 billion kWh, increasing by 10.8% [3] - As of June, China's internet user base reached 1.123 billion, with an internet penetration rate of 79.7%, indicating a growing number of groups sharing the benefits of digital development [3] - The "Eight Vertical and Eight Horizontal" high-speed rail network has been completed and put into operation at 81.5%, with a total operating mileage of 48,000 kilometers, covering 97% of cities with populations over 500,000 [3] International News - Japan's Prime Minister expressed commitment to advancing trade negotiations with the U.S. to protect national interests, with the Japanese Minister of Economic Revitalization traveling to the U.S. for the eighth round of talks [5] - The average house price index in the UK decreased by 1.2% month-on-month in July, marking the largest single-month decline for the same period in previous years, attributed to an increase in buyer choices [5] Market Overview - The Shanghai Composite Index closed at 3559.79, up 0.72%, while the Shenzhen Component Index rose by 0.86% to 11007.49. The ChiNext Index increased by 0.87% to 2296.88 [5] - The onshore RMB was quoted at 7.1768, down 23 points, while the offshore RMB was at 7.1792, up 1 point. The U.S. dollar index decreased by 0.25% to 98.236 [5]

Core Viewpoint - The implementation details of the cross-border asset management pilot program in Hainan Free Trade Port have been released, allowing foreign investors to use funds from both domestic and international sources to purchase pilot asset management products [1] Group 1 - Foreign investors can use funds from both domestic and international sources to purchase pilot asset management products [1] - Foreign individual investors using funds from domestic sources must provide proof of residence, employment, or study in Hainan Free Trade Port for at least one year, along with proof of RMB income from domestic sources [1] - Issuing institutions are required to fulfill active management responsibilities and are prohibited from providing channel services to foreign institutions or individuals [1]

Core Viewpoint - The implementation details for the cross-border asset management pilot program in Hainan Free Trade Port have been released, emphasizing that trial asset management products for foreign investors must be settled in RMB [1] Group 1: Regulatory Framework - The guidelines were jointly issued by several regulatory bodies, including the People's Bank of China Hainan Branch and the National Financial Regulatory Administration Hainan Bureau [1] - The pilot program includes publicly offered securities investment funds classified as "R1" to "R4" risk levels by issuing and sales institutions [1] - Private asset management products from securities fund futures operating institutions, also classified as "R1" to "R4," are included in the scope of the pilot [1] Group 2: Product Scope - Insurance asset management products issued by insurance asset management companies are part of the pilot program [1] - Other asset management products recognized by the National Financial Regulatory Administration and the China Securities Regulatory Commission can also participate in the pilot [1]