CBN丨China to liberalise thermal power pricing to 20% fluctuation

China Business Now李莹亮,实习记者张然 2021-10-12 19:19

三分钟音频,中英文带你速览中国经济头条。

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 

  • Top economic planer asks all industrial and commercial users to buy electricity from the market;

  • Shenzhen will issue 5 billion yuan bonds in Hong Kong;

  • Firms in the Greater Bay Area top China’s R&D spendings.

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

中国经济要闻

The other shoe finally drops on China’s electricity price reform as Beijing tries to tackle an energy crunch that sent the country’s September manufacturing PPI sliding into contraction.

The National Development and Reform Commission (NDRC) said on Tuesday it will fully liberalise pricing for electricity generated from coal and that industrial and commercial users will all have to buy from the market, without giving a specific time frame.

All coal-fired power will orderly enter the power market, as the floating range of the market-based electricity transaction prices are adjusted in principle to a range of 20 percent up or down, compared with the current ceiling of 10 percent and the floor of 15 percent from the benchmark price, said the country’s top economic planer. It also requires local government to prioritise supply of low-cost power for residents and agriculture.

Today, market reacted swiftly to the price reform, as shares of power suppliers continued to cool off, some even fell to the 10-percent daily limit. 

The reforms are Beijing's latest effort to deal with an energy crisis gripping the world's second largest-economy that is expected to last through the year-end.

The notice came after Premier Li Keqiang’s remark at a Saturday meeting that the country should balance development and carbon reduction, deepen market-based reform in the energy sector, and promote green transformation. 

To ease the power shortage, Shanxi, China’s top coal-producing province, is eyeing an output boost by continuing extracting the fossil fuel from coal mines that have already reached whole-year production goals and increase production capacity of the mines. 

Unfortunately, the unprecedented flooding in Shanxi and Shaanxi province have added to a massive national power crisis and sent prices to a record high, as the two provinces together supply nearly half of China’s coal. 

凛冬将至,靴子落地:煤电价格改革定了。

今天,国家发展改革委发布关于进一步深化燃煤发电上网电价市场化改革的通知。通知提出,燃煤发电电量原则上全部进入电力市场,推动工商业用户都进入市场,并保持居民、农业用电价格稳定。

通知扩大了燃煤发电市场交易价格上下浮动范围:由现行的上浮不超过10%、下浮原则上不超过15%,扩大为上下浮动原则上均不超过20%,高耗能企业市场交易电价不受上浮20%限制。

市场反应表现在电力板块的跌势上。今天电力板块普遍下挫,多股跌停,板块指数节后已连续三日大幅回落。截至收盘,吉电股份收跌9.99%,银星能源跌9.07%,皖能电力跌8.65%。

本次通知发布前,李克强总理在10月8日的国常会上强调,要科学有序推进实现“双碳”目标,完善阶梯电价,深化输配电等重点领域改革,更多依靠市场机制促进节能减排降碳,提升能源服务水平,并不断提升绿色发展能力。

为缓解电力短缺,煤矿大省山西要求约51个产量已触顶的煤矿保持生产,并增加产能。然而,近日暴发的洪水严重打击了山西及陕西的煤炭生产中心,导致煤炭价格飙升,并使应对持续电力短缺的努力复杂化。山西的煤炭产量占全国的四分之一,而毗邻的陕西省煤炭产量在全国排名第三,两省是中国煤炭的主要来源。

Greater Bay Area, Greater Future

新使命,大未来

  • Shenzhen announced today that it will issue offshore RMB municipal government bonds of 5 billion yuan in Hong Kong in October, which is the first time a mainland municipal government issues bonds outside the mainland.

    10月12日下午,深圳市在港发行离岸人民币地方政府债券发布会在深圳证券交易所举行。据悉,深圳市此次在香港簿记建档发行50亿元地方政府债券,是内地地方政府首次发行离岸人民币政府债。

  • Huawei ranks first among China’s privately held tech companies for patents and investment in research and development, according to the rankings by the All-China Federation of Industry and Commerce. In regional rankings, the Greater Bay Area leads with a total R&D expenditure of 272 billion yuan from 92 firms.  

    10月11日举行的2021粤港澳大湾区民营企业科技创新峰会暨民营企业科技成果对接会上,全国工商联发布了“2021民营企业研发投入500家”榜单,以及“2021民营企业发明专利500家”榜单,在这两份榜单上,华为投资控股有限公司均位居榜首。从地区排名来看,研发投入排名前1000的民营企业中,粤港澳大湾区企业92家,研发费用总额2723亿元,排名第一。

Next on industry and company news

产经消息及公司新闻

  • China's auto sales recorded an 8.7 percent year-on-year growth to 18.62 million units in the first nine months of 2021, yet sales in September was down 19.6 percent, data from the China Association of Automobile Manufacturers showed Tuesday.

    10月12日,中国汽车工业协会数据显示,1-9月,汽车生产1824.3万辆,同比增长7.5%,增速比1-8月继续回落。9月汽车销量206.7万辆,同比下降19.6%。

  • Ant Group, China’s leading financial technology services company, has raised its registered capital to 35 billion yuan from 23.8 billion yuan. The company said on Monday that the move was aimed at meeting regulatory requirements and its business needs. 

    国家企业信用信息公示系统显示,蚂蚁科技集团股份有限公司注册资本从237.7亿元变更为350亿元。蚂蚁集团周一回应称,根据相关监管规定及公司经营发展需要,蚂蚁集团增加了注册资本金,为公司后续发展预留更大空间。

Switching gears to the financial sector

金融市场要闻

  • Several privately owned Chinese banks have been fined at unprecedented levels for misconduct such as failing to properly control risks and manage how their loans are issued, China’s banking regulator said, as it steps up supervision over the industry. Chongqing Fumin Bank was fined 8.5 million yuan, the heaviest fine that regulators have ever levied against a privately owned bank. 

    随着监管力度的趋严,行业规范性加强,今年以来包括民商银行、新网银行、华瑞银行等在内的多家民营银行收到巨额罚单。日前重庆银保监局披露对富民银行的处罚信息,因存在关联交易定价不公允、向关联方输送利益、信贷资金被股东占用等17项问题,重庆银保监局决定对富民银行罚款850万元,为民营银行中单笔最高处罚金额。

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 Tuesday with the benchmark Shanghai Composite Index dipping 1.25 percent at 3547 points. The Shenzhen Component Index closed 1.62 percent lower at 14135 points. The Hang Seng Index closed 1.43 percent lower to stand at 24963 points. 

    周二A股股市集体收跌,截至收盘,沪指跌1.25%,报收3547点;深成指跌1.62%,报收14135点。港股恒生指数跌1.43%,报收24963点。

Biz Word of the Day

财经词汇划重点

  • Registered capital is the total amount of capital contributions subscribed by the shareholders of a Chinese company, which must be registered with the business registration authority.

    注册资本是指合营企业在登记管理机构登记的资本总额,是合营各方已经缴纳的或合营者承诺一定要缴纳的出资额的总和。 

(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

Host: Stephanie LI

Writer: Stephanie LI, ZHANG Ran, TIAN Chang

Producer: XIANG Xiufang

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策划、编辑:李艳霞 

播音:李莹亮

撰稿:李莹亮、张然、田畅

监制:向秀芳 

音频制作:张然、袁思杰 

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(作者:李莹亮,实习记者张然 编辑:李艳霞)