China Business Now丨Xi presented July 1 Medal; PBOC’s deputy chief to be IMF's deputy MD

Hi everyone. I’m Stephanie LI.

大家好，我是主持人李莹亮。

Starting with China's top news.

今天的头条新闻有：

As part of the celebrations of the 100th anniversary of the founding of the Communist Party of China (CPC), a ceremony to present the July 1 Medal to outstanding CPC members was held in Beijing on Tuesday morning. President Xi Jinping, also general secretary of the CPC Central Committee and chairman of the Central Military Commission, presented the July 1 Medal to 29 awardees. 

6月29日上午10时,“七一勋章”颁授仪式在人民大会堂隆重举行。中共中央总书记、国家主席、中央军委主席习近平首次颁授“七一勋章”并发表重要讲话。今年是“七一勋章”首次颁授，共有29名功勋党员获此殊荣。

(Picture by CGTN)

China's National Development and Reform Commission said Monday it plans to purchase pork to replenish the reserves at both the central and local levels, as the national average of pork prices against grain prices, came in at 4.9 to 1 last week, falling below the warning level of 5 to 1. 

国家发展改革委28日发布消息，6月21日至25日，全国平均猪粮比价为4.90∶1。按照《完善政府猪肉储备调节机制 做好猪肉市场保供稳价工作预案》规定，已进入过度下跌一级预警区间（低于5∶1），中央和地方将启动猪肉储备收储工作。 

The International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Monday announced her proposal to appoint Li Bo, currently deputy governor of the People's Bank of China (PBOC), as IMF deputy managing director. Li's proposed appointment is to be effective Aug 23.

国际货币基金组织总裁克里斯塔利娜·格奥尔基耶娃女士向IMF执董会宣布，提议任命李波先生出任副总裁一职，自2021年8月23日起生效。李波先生现任中国人民银行副行长。他将接替8月22日卸任的张涛出任副总裁。

Updates on COVID-19. 

疫情简报：

China administered about 20.9 million doses of COVID-19 vaccines on June 28, bringing the total number administered to 1.2 billion, according to data released by the National Health Commission on Tuesday. 

国家卫健委网站消息，截至2021年6月28日，31个省(自治区、直辖市)和新疆生产建设兵团累计报告接种新冠病毒疫苗120671.4万剂次。 

Hong Kong will ban all passenger flights from the United Kingdom from Thursday over concerns of the Delta variant of COVID-19, the HKSAR government announced on Monday. 

香港特区政府6月28日宣布将就英国实施地区性航班“熔断机制”，由当地时间7月1日凌晨0时0分起禁止所有从当地来港的民航客机着陆香港。

CPC Leads a Century’s Progress

建党百年，开创新局

China's economy has grown by 189 times over the past 70 years since the founding of the People's Republic of China (PRC). China's total economic volume has exceeded 100 trillion yuan (about $15.5 trillion), making it the world's second-largest economy and accounting for over 17 percent of the global economy. Upon its founding, China's GDP per capita was only a few dozen U.S. dollars, but it now exceeds $10,000. Since the reform and opening-up that started in 1978, 770 million people have been lifted out of poverty, accounting for over 70 percent of the global poverty reduction in the same period. 

28日上午，在庆祝中国共产党成立100周年活动新闻中心的第二场新闻发布会上，中央财经委员会办公室分管日常工作的副主任韩文秀从经济社会发展角度，介绍了建党百年的伟大成就和经验启示。韩文秀介绍，新中国成立70多年来，中国经济累计实际增长约189倍，目前经济总量已超过100万亿元，是世界第二大经济体，占全球经济的比重提高到17%以上。韩文秀表示，经过新中国成立以来70多年的艰苦奋斗，目前我国人均国民收入已经超过1万美元。改革开放以来，中国有7.7亿农村贫困人口摆脱贫困，中国的减贫人口占同期全球的70%以上，困扰中华民族几千年的绝对贫困问题得到历史性解决。

Moving on with industry news.

产经消息：

Huawei reiterated it will not invest in or take control of any carmakers due to several factors during an auto industry forum on Monday.

在长城科技节中国汽车产业发展高峰论坛上，华为汽车BU MKT与销售服务部总裁迟林春表示，“华为不造车，也不会投资，不控股任何一家车企”。

Switching gears to the financial sector.

金融市场要闻： 

The nominal effective exchange rate (EER) of the Chinese yuan in May hit its highest point since April 2016, the latest data from the Bank for International Settlement (BIS) shows. According to monthly BIS data, the nominal EER of the Chinese yuan climbed 1.12 percent to 122.01 from April 2016 to May 2021.

国际清算银行（BIS）的最新数据显示，5月份人民币名义有效汇率（EER）触及2016年4月以来的最高点。根据国际清算银行月度数据，2016年4月至2021年5月，人民币名义EER上涨1.12%至122.01。

Chinese grocery app Dingdong, backed by SoftBank Vision Fund II, on U.S. time Monday slashed the size of its initial public offering in the United States to about a fourth of what it had aimed for earlier. The company is now looking to raise up to $94.4 million, according to a filing, compared with its earlier plan for up to $357 million. The downsizing comes after rival grocery app Missfresh Ltd, backed by Tencent Holdings Ltd, plunged in its market debut last Friday, with the largest drop of nearly 40% in the day. Its market value once fell below 2 billion U.S. dollars. The company’s shares plunged 26% to close at 9.6 U.S. dollars.

6月29日消息，美东时间6月28日，软银愿景基金2号（SoftBank Vision Fund II）支持下的叮咚买菜更新招股书，将其赴美IPO上市的规模大幅削减至此前目标的四分之一左右。叮咚买菜目前正寻求筹集最多9440万美元资金，而此前的计划是最多筹资3.57亿美元。其对手每日优鲜6月26日IPO首日开盘破发，日内最大跌幅接近40%，市值一度跌破20亿美元，最终以首日暴跌25%收盘。

Wrapping up with a quick look at the stock market.

最后来看今日收盘情况：

Chinese stocks closed lower on Tuesday, with the benchmark Shanghai Composite Index down 0.92 percent, at 3573 points. The Shenzhen Component Index closed 0.99 percent lower at 14999 points. Stocks related to HUAWEI’s Ascend Computing System, silicon and BIPV went strong, while shares related to pork, finance, baijiu and semiconductor closed weaker.

周一股市震荡下行。截止收盘，沪指收报3573.18点，跌0.92%；深成指收报14999.80点，跌0.99%。猪肉、军工、金融、白酒、5G、半导体芯片、新能源车等集体回调，而华为昇腾概念、BIPV板块、有机硅概念等走强。

Executive Editor: Sonia YU

Editor: LI Yanxia

Writer & Host: Stephanie LI

Producer：XIANG Xiufang

Sound Editor: YUAN Sijie

Graphic Designer: ZHANG Ying

Co-produced by 21st Century Business Herald Dept. of Overseas News & SFC Audio/Video Dept.

Presented by SFC

编委:  于晓娜

策划、编辑：李艳霞 

撰稿、播音：李莹亮

监制：向秀芳 

音频制作：袁思杰

设计：张颖

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（作者：李莹亮,实习生郎舒婷 编辑：李艳霞）

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