46. ​​Deleveraging: The so-called leverage, in a narrow sense, refers to the ratio of assets to shareholders’ equity; in a broad sense, it refers to using liabilities to control a larger scale of assets with a smaller amount of capital, thereby expanding profitability. or purchasing power. The so-called “deleveraging” refers to companies or individuals reducing the use of financial leverage and returning the money they originally “borrowed” through various methods.

47. Bank’s non-performing assets: Bank’s non-performing assets are also often called non-performing debts, the most important of which are non-performing loans, which refer to loans that customers cannot repay principal and interest on time and in quantity. That is to say, the loan issued by the bank cannot recover the principal and interest according to the pre-agreed period and interest rate.

48. “Basic point” of exchange rate changes: According to market practice, the quotation of foreign exchange exchange rate usually consists of five significant figures. The last digit is called the basic point, which is the smallest unit that constitutes the exchange rate change. For example: 1 euro = 1.2817 U.S. dollars; when the euro against the U.S. dollar changes from 1.2817 to 1.2819, we say that the euro against the U.S. dollar has risen by two basic points.

49. B shares: The official name of B shares is RMB special stocks. It is a foreign-invested stock whose face value is expressed in RMB, subscribed and traded in foreign currencies, and listed and traded on stock exchanges in China (Shanghai, Shenzhen). B-share companies are registered and listed in China. Before 2001, investors were restricted to overseas persons. After 2001, domestic individual residents were allowed to invest in B-shares. The “B” in B shares is only relative to the “A” in A shares and has no practical meaning.

50. “Unlocking of large and small non-tradable stocks”: “Large and small non-tradable stocks” refer to large and small-amount restricted non-tradable stocks. Currently in the market, those with a shareholding ratio of more than 5% are called “big fei”, and those with a shareholding ratio of less than 5% are called “small fei”. The lifting of the non-tradable ban means that restricted non-tradable shares are allowed to be listed, increasing the number of tradable shares in the market, and non-tradable shares completely become tradable shares.

51. Reinsurance: Reinsurance, also called reinsurance, is a way for insurance companies to transfer part of the risks and responsibilities they bear by signing a reinsurance contract based on the original insurance contract. For example, if you buy property insurance worth 1 million yuan from an insurance company, this is called original insurance. In order to spread the risk, this insurance company has purchased property insurance worth 800,000 yuan from another insurance company with your property as the subject. This is reinsurance.

52. Strategic investors: refer to those who have advantages in capital, technology, management, market and talent, can promote the upgrading of industrial structure, enhance the core competitiveness and innovation capabilities of enterprises, expand the market share of enterprise products, are committed to long-term investment cooperation, and seek to obtain long-term Domestic and foreign large enterprises and large groups that seek profit returns and sustainable corporate development.

53. Institutional investors: In my country, institutional investors refer to legal entities engaged in securities investment in the financial market, including insurance companies, pension funds and investment funds, securities companies, banks, etc. The most active ones are securities operating institutions with qualifications for self-operated securities business, investment management funds that comply with relevant national policies and regulations, etc.

54. LOF fund: LOF fund (ListedOpen-Endedfund), listed open-end fund. After the issuance is completed, investors can subscribe and redeem fund shares at designated outlets, or buy and sell the fund on the exchange.