China Business Now丨Beijing will rotate teachers in a bid to promote fairness

Hi everyone. I’m Stephanie LI.

大家好，我是主持人李莹亮。

Coming up on today’s program.

重点提要 

• Beijing aims to improve equality by testing teacher rotation policy;

• Kuaishou’s shares sank after quarterly loss widens 146%;

• Authorities ordered banks to ditch nonstandard wealth management assets.

Here’s what you need to know about China in the past 24 hours

中国经济要闻

It’s finally here.

Beijing announced yesterday it will test job rotation for both school officials and teachers in an effort to make education more equitable and avoid the concentration of the best staff in only a small number of institutions.

Cities in China such as Shanghai and Shenzhen have been working to make sure that schools offer education of the same quality to students at the stage of compulsory education as teachers rotation program is on the table, though some are still in discussion. Housing price of the so-called “school district” received a huge blow, some are even reported to have dropped 40 percent.

Besides, Chinese authorities recently issued a circular on standardizing the participation of public schools in establishing non-publicly funded schools, which aims to ensure the fairness of compulsory education and its role in public welfare. 

In fact, in 2014, the Ministry of Education issued a guideline on teacher rotation, which stipulated that the proportion of exchanged teachers in high-quality urban schools should not be less than 10 percent in each academic year. However, this has not worked out well, as decision on job rotation remain in the hands of the schools and teachers in rural areas often enjoy subsidies that are twice as high as those in cities. 

Devil is in the detail. The “who, when, what and how” will determine whether the rotation system will succeed, and in a way, decide the future of “school-district” housing market as well.

学区房要凉了吗？

“双减”出台至今，各地已相应推出各种措施，促进教育公平，缓解家长们的教育焦虑。而关于教师轮岗的讨论，更是让学区房“瑟瑟发抖”。年初，上海出台指导意见，明确中小学教师交流轮岗的对象和条件；不久前，深圳面向社会公开征求意见，提出实行大学区招生，并施行教师轮岗制度。据媒体报道，部分北京、深圳学区房已大幅降温。

8月25日，北京正式发布“双减”政策下推出的优秀校长教师交流轮岗实施细则，在全区范围内，推进义务教育学校校长交流轮换，区级以上骨干教师均衡配置，普通教师派位轮岗。在校长层面，距离退休时间超过5年，并且在同一所学校任职满6年的正、副校长原则上应进行交流轮岗；在教师层面，在编在岗教师距离退休时间超过5年、并且在同一所学校连续工作6年及以上的教师，原则上进行交流轮岗。

事实上，早在2014年教育部曾发布教师交流轮岗意见，规定了城镇优质学校每学年教师交流轮岗的比例不低于符合交流条件教师总数的10%，鼓励教师从城市到农村，从强校到薄弱学校任教。然而，成效并不理想，因为轮岗人员的决定权仍握在学校手里，而且农村教师往往享受比城镇教师高达一倍的补贴。因此，教育轮岗怎么做、谁来做、何时做，这些细节将决定轮岗制能否成功推行。

同时，教育部等八大部门近日联合印发《关于规范公办学校举办或者参与举办民办义务教育学校的通知》，规范“公参民”学校工作推动公办学校回归公办，社会力量举办民办，民办义务教育学校不得以公办校名义招生。

教师轮岗制能让“高贵”的学区房低头吗？也许吧，但真正实现教育公平仍是路长且阻。

Updates on COVID-19

疫情简报

The Chinese mainland reported three new local cases from Yunnan  province yesterday.

全国昨日新增3例本土确诊病例（均在云南）。

Next on industry and company news

产经消息及公司新闻

Shares of Kuaishou Technology sank after the Chinese short video platform’s adjusted net loss widened 146.2 percent in the second quarter from the same period last year. Today, the company’s stock plummeted another 9.16 percent to HK$70.4, nearly one-sixth of its peak of HK$417.8 in February.

8月25日晚间，快手发布了业绩报告。二季度，公司收入191.4亿元，同比增长48.8%，经调整亏损净额47.7亿元，同比扩大146.2%。快手股价曾一度在2月16日达到417.80港元，今日继续下挫9.16%，最新收盘价每股70.4港元。

Xiaomi reported a best-ever quarterly revenue yesterday as it became the world’s second-largest smartphone vendor in the quarter. Revenue jumped 64 percent to 87.8 billion yuan, and adjusted net profit surged 87.4 percent to 6.3 billion yuan in the second quarter. 

8月25日，小米集团发布的2021年第二季度业绩报告显示，报告期内小米集团总营收878亿元，同比增长64%；经调整净利润63亿元，同比增长87.4%。 

Shares of the Chinese hotpot chain Haidilao slumped as much as 6 percent yesterday after its two co-founders resigned after its first-half performance fell below management's expectations. The stock has lost nearly 70 percent of its value since hitting an all-time high in February. This is despite the restaurant chain turning a profit of 94.5 million yuan, an increase of 110 times from last year, while revenue doubled to 20.1 billion yuan.

8月24日，海底捞发布2021年中期业绩报告，在去年巨亏之后，今年实现营收200.94亿元，但仍未达到预期，海底捞昨日大跌6%。自今年2月16日股价85.8港元高点以来，海底捞股价一路下滑，至今跌幅已近70%。

Chinese bubble tea chain Nayuki reported an adjusted net profit  of 48.2 million yuan, and its revenue jumped 80.2 percent to 2.1 billion yuan. Today, the Hong Kong-traded Nayuki surged 7.39 percent to HK$11.

8月25日，奈雪的茶发布上市后的首份中期业绩报告，财报显示，奈雪的茶2021年上半年收入达21.26亿元，同比增长80.2%。经调整净利润4820万元。今日，奈雪的茶股价大涨7.39%，收报11港元。

Switching gears to the financial sector

金融市场要闻

Chinese regulators recently summoned banks and outlined more specific requirement on methods for valuing banks’ wealth management products (WMPs). They also set earlier deadlines for disposing of certain nonstandard credit and equity assets. Regulators in the first half of this year already ordered banks to speed up the disposal of remaining nonstandard credit assets, media reported today.

据媒体报道，近日，监管部门对六家国有大行及其理财公司做出指导，大行理财产品9月1日后所配资产不得采用成本法估值（未上市股权除外）。以摊余成本计价的开放式理财产品在过渡期年底结束后不允许再续期或发行。

Wrapping up with a quick look at the stock market

最后来看股市收盘情况

Chinese stocks closed lower on Thursday with the benchmark Shanghai Composite Index down 1.09 percent, at 3501 points. The Shenzhen Component Index closed 1.92 percent lower at 14415 points. The Hang Seng Index sank 1.08 percent to stand at 25415 points. 

周四A股股市集体收跌，截至收盘，沪指跌1.09%，报收3501点；深成指跌1.92%，报收14415点。港股恒生指数跌1.08%，报收25415点。

• Biz Word of the Day

  财经词汇划重点

• Non-standard assets, or credit assets, are defined by the China Banking Regulatory Commission as assets that are not traded on interbank markets' securities exchanges. They include trust loans, entrusted creditor's rights, banker's acceptance bills, letters of credit, receivables, any kinds of beneficial interest and equity-based financing with buy-back clauses.

  非标资产，或称非标准债权资产，指未在银行间市场和证券交易所市场交易的债权资产，包括但不限于信贷资产、信托贷款、委托债权、承兑汇票、信用证、应收账款、各类受（收）益权、带回购条款的股权型融资等。

（欢迎大家提供意见和反馈，请联系主播李莹亮：liyl@21jingji.com）

Executive Editor: Sonia YU

Editor: LI Yanxia

Writer & Host: Stephanie LI

Producer：XIANG Xiufang

Sound Editor: Andy YUAN Ran ZHANG

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 张然

设计：张颖

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（作者：李莹亮,,实习记者张然 编辑：于晓娜）

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