Central inspection team position!Beijing-Tianjin-jiang-ji party newspaper front-page collective talked about it

In recent days, after the Ministry of Environmental Protection issued an inspection on the prevention and control of air pollution in Beijing, Tianjin and the surrounding areas, Hebei Province Daily, Tianjin Daily, Beijing Daily and other officials reported that media and local governments have taken the lead in handling pollution control Important position. In addition, according to media reports, the Ministry of Environmental Protection intends to complete the disbursement of sewage permits for Beijing, Tianjin and neighboring iron and steel enterprises by the end of October; it is proposed to issue emission permits for industries such as copper, lead, zinc and smelting before the end of December. Japanese stocks, A shares of environmental protection plate in the top gainers. Wall Street has repeatedly mentioned several times before, increasingly stringent environmental supervision will not only affect the environmental protection sector, but also may have some positive impact on the colored, black plate. Beijing, Tianjin and Hebei to convene a meeting to deploy environmental protection work According to the official website of the Ministry of Environmental Protection on the 23rd released news, the Ministry of Environmental Protection in Beijing and Tianjin and surrounding areas to strengthen supervision after that: According to more than 4 months of air pollution prevention and strengthening supervision work experience, In accordance with the "Beijing-Hebei and its surrounding areas in 2017-18 years autumn and winter air pollution control measures to tackle key problems" requirements, strengthen supervision of air pollution in autumn and winter focus on the adjustment:

First, the firm industrial enterprises, "scattered pollution" enterprises and cluster comprehensive improvement results as a standpoint, and continuously increase supervision of industrial sources, including dust control of industrial enterprises, elimination and relocation of industrial enterprises, treatment of volatile organic compounds (VOCs) The situation of dust control in construction sites, the rectification of gas stations, the compliance of industrial enterprises with discharge of pollutants, the situation of "scattered pollution" enterprises and cluster comprehensive improvement and the issuance of sewage discharge permits in key industries and enterprises; 

The second is to suppress coal and emission reduction, as the main direction of upgrading the tender, and strengthen supervision and control of coal combustion, including the elimination and transformation of small boilers, clean heating and coal substitutes; 

Third, the peak peak production, heavy polluted weather properly deal with as an important means of emergency support, focusing on supervision of heavy pollution weather emergency measures to implement the situation and the implementation of peak shifting production；

Beijing Municipal Party Committee Secretary Cai Qi presided over Beijing on the 22nd meeting of the Shenzhen Reform Group to consider the implementation of the Beijing Municipal Control Pollutant Discharge Permit Scheme to implement the central government's decision-making arrangements for the first-good standard, do not issue permits for industries that do not meet the strategic positioning of the capital city Certificates, implement the most stringent environmental standards in the industry technical specifications and emission standards, and strengthen strict law enforcement and joint disciplinary actions in the supervision of law enforcement. On the 23rd, Xu Qin, governor of Hebei Province, presided over the convening of the leading group meeting on prevention and control of air pollution in Hebei Province. The 10th meeting of the Beijing-Tianjin-Hebei and surrounding areas on prevention and control of atmospheric pollution was implemented and the sources of pollution, contaminated areas and pollution periods were accurately identified, Coal governance, and vigorously promote the governance of scattered coal in rural areas, limit the small-scale coal-fired boilers, and strictly control the total amount of coal consumption, speed up the disposal of "scattered pollution" enterprises, comprehensive treatment of industrial pollution and strict control of mobile and non-point source pollution. Tianjin Municipal Party Committee Secretary Li Hongzhong, deputy secretary of municipal Party committee, mayor Wang Dongfeng depth City Meteorological Bureau and Municipal Environmental Protection Bureau on the 23rd investigation of air pollution prevention and control work, inspection and deployment of air quality during the National Games and meteorological service support. Li Hongzhong emphasized that it is necessary to combine the air quality guarantee of the National Games with the prevention and control of air pollution and the rectification and reform of the feedback opinions of the Central Environmental Inspectorate. The two parties should strengthen their responsibility, pay close attention to law enforcement inspection and make every effort to prevent and control air pollution.

Previously, the Xu Biao team of Tianfeng Strategy believes that understanding the strengthening of environmental supervision should be carried out from the perspective of supply-side reform. In addition to the hard targets of environmental protection, we think that the environmental protection supervision The reason is far-reaching investigation, there is a deeper logical support behind. As early as April 16, the MEP issued the Guidance on Actively Enforcing Environmental Protection to Promote Supply-Side Structural Reform, which mentioned that including "strengthening the hard constraints of the environment and promoting the removal of backward and excess capacity" The main task of environmental protection and supply-side structural reform combine together. Earlier this year, "Beijing and Tianjin and its surrounding areas in 2017 air pollution prevention and control work program" (draft for solicitation in February, formally issued in March) also reflects this concept, compared with the previous version, the more emphasis on environmental air pollution Combination of prevention and control action plan and supply-side reform. If 16 years of steel production capacity to go more is to take administrative measures, then from now on, after the intervention of environmental elements, to increase production capacity will be an important technical means, the supply side of the contraction of some periodic products Will exceed expectations.

In conclusion, we believe that no matter whether the Central Government Supervision or the MEPC organization around Beijing, Tianjin and Hebei Province is covered by the unprecedented coverage and monitoring efforts, we still need to make a distinction between industries or products in this sub-sector. Cyclical industry has been elusive out of the "bull market" for nearly 3 months, from the initial logic to improve liquidity, high-frequency data, economic indicators reflect the recovery of the logic of the logic, then environmental supervision again offer a gift. At this point in time, unless demand exceeds overall expectations, cyclical stocks may face differentiation, it is recommended to focus on the industry has limited production cuts indicators. According to the documents recently released by the MEP, Beijing-Tianjin-Hebei and surrounding environmental protection agencies, industries or commodities that have a definite limit of production quota include steel, alumina, electrolytic aluminum, carbon, etc., and other key enterprises with "small scattered pollution" See table below).

Environmental Protection, Blackness, Coloring or Benefit Influencing the enhancement of environmental supervision in North China may have a positive impact on the environmental protection, non-ferrous and black sectors. Golden State Securities Research reported that in the second half of 2008, environmental supervision and policies are expected to continue to be overweight. At this year's NPC and CPPCC National Committee held this year two proposals were made to intensify the prevention and control of air pollution and promote the prevention and control of water pollution and soil pollution. Recently, the MEP also clearly pointed out that one of the focuses of the second half of the year is to speed up the reform and implementation of the vertical management system of environmental protection agencies under the provincial level Cross-regional environmental agencies pilot. Rules, a clear system and supervision will continue to catalyze the capital market attention to the environmental protection sector. Selected stock theme library data show that today's early sewage treatment, solid waste treatment and environmental protection sector among the highest gainers: Prior to environmental supervision and limited production of iron ore, rebar, aluminum and other black colored futures also Obvious increase；