Shanghai is Shanghai, Tianjin is Tianjin

Thoughts of the Week

Shanghai is Shanghai, Tianjin is Tianjin Sporadic outbreaks have appeared in various places. Without unified leadership, fighting the epidemic has become a test of government affairs level. Similarly, the epidemic announcement in Shanghai, compared with Tianjin, is higher by an order of magnitude. It is difficult to measure by the number of words in the announcement, but the level is immediately apparent. The higher the level of governance, the more pragmatic.

The difference between fundamentalism and Buddhism I often think about where the essential difference between extreme religion and Buddhism lies? Why are some believers so extreme, and even cults appear. But I couldn’t figure it out. I accidentally heard Teacher Yu Qiuyu’s analysis of this problem in a speech, and it hit the nail on the head. Fundamentalism believes that being one foot away from the doctrine is evil, while Buddhism believes that being one foot away from evil is good.

Global Thinking Learning from Israelis and doing global business. It mentions that Israelis rely on innovation and strive to do global business when their domestic market is almost zero. A small company of a dozen people can sell products to dozens of countries around the world. Listening to Teacher Zhou Qiren talk about “Globalization is a ready-made path for enterprises to improve quality”, he summarized: Global corporate giants such as BASF and Nestlé, although living in small European cities, rely on innate global strategies, superior quality, precise positioning, and brand building to grow into global giants. I deeply agree. The path of globalization for domestic enterprises that have grown up relying on the huge domestic demand market is rarely mentioned. Especially the reaction of leading enterprises such as Huawei, ZTE, and TikTok when facing economic suppression, which is indeed worrying. However, among all Chinese enterprises, Haier may be the best enterprise in globalization strategy and is worth learning from. This is inseparable from Haier leader Zhang Ruimin. Wu Xiaobo told a story, saying that he visited Zhang Ruimin’s small library. Zhang Ruimin told him that I not only read a lot of management books, absorb and learn others’ management philosophy, but also can point out others’ mistakes. Personally, I think this is the secret of Haier growing into a multinational enterprise.

Market of the Week

Period: 2020-11-16——2020-11-22

Major indices were mixed this week, but the overall trend remained positive. Yellow rice wine, bicycles, and titanium dioxide led the gains, while lithium batteries, CAR-T and other concepts led the declines. Shanghai Stock Connect saw net inflows for three consecutive weeks, and Hong Kong Stock Connect saw net inflows for four consecutive weeks. Combined with the index and northbound capital flow, funds are flowing to the Shanghai market with smaller gains in the early period, which is also the reason or manifestation of institutions shouting to buy pro-cycle.

Market (%)	Index	This Week	1 Week Ago	2 Weeks Ago	3 Weeks Ago
Shanghai Composite	3377.73	2.04	-0.06	2.72	-1.63
Shenzhen Component	13852.42	0.71	-0.61	4.55	0.82
ChiNext Index	2667.09	-1.47	-0.96	2.91	2.12
Hang Seng Index	26451.54	1.13	1.73	6.66	-2.74
HSCEI	999.54	-0.43	2.31	7.06	-4.77
Hang Seng China-Affiliated	3856.15	-1.21	3.15	6.98	-3.23
Dow Jones	29263.48	-0.73	4.08	6.87	-6.47
Nasdaq	11854.97	0.22	-0.55	9.01	-5.51
S&P 500	3557.54	-0.77	2.16	7.32	-5.64

Market (CNY, Billions)	This Week	Last Week	2 Weeks Ago	3 Weeks Ago
Shanghai Connect	84.4	73.75	126.87	-58.34
Shenzhen Connect	-29.29	18.38	87.29	-25.03
Hong Kong Connect	95.98	133.05	202.80	289.32

Positions

Type	Code	Name	Current Dynamics
Stock	SZ000889	Zhongjia Bochuang	New
Stock	HIMX	Himax Technologies	Clear
Stock	LU	Lufax	New
Fund	F260104	Invesco Great Wall Domestic Demand Growth Mixed	Flat
Fund	F000566	Huatai-PineBridge Innovation Upgrade	Flat
Fund	F320022	Lion Fund Research Selected Stock	Flat
Fund	F001692	Southern National Policy Power Stock	Flat
Fund	F163415	Xingquan Commercial Front-end Fee	Flat
Fund	F001668	E Fund Global Internet Mixed	Flat
Fund	F519688	BOCOM Selected Mixed	Flat
Fund	F163406	Xingquan Herun Classified	Flat