CBN丨Omicron response: China to keep up zero-Covid strategy while many countries restrict travels

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 

• China says zero-Covid policy will protect it against Omicron variant;

• Central bank said media reports about personal payment reception codes is misleading.

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

中国经济要闻

As the discovery of the new Omicron variant of COVID-19 triggered global alarms and market sell-offs over the weekend, Asian stock markets fell further Monday after the variant was found in more countries. Shanghai, Hong Kong, Tokyo and Sydney declined, though losses were much smaller than Friday’s sharp decline.

The new potentially more contagious Omicron variant has been detected in a number of countries over the weekend, just days after it was identified in South Africa. Omicron has a large number of spike protein mutations and is the fifth variant to be given the designation. The WHO declared it as one “of concern”.

Governments around the world are rushing to suspend travel in an effort to stop its spread. Concerns over the new variant pummelled financial markets, especially affecting airlines and others in the travel sector, as well as oil.

Chinese investors might be more confident than their counterparts because of the efficient handling by the government of the coronavirus pandemic domestically, experts said, noting that domestic prices of oil, a key commodity under state control, would also be maintained at a stable level regardless of the fluctuations in the global market. 

China currently has no plans to further tighten its border restrictions to contain Omicron, leading Chinese experts said on Sunday. Chinese top epidemiologist Zhong Nanshan said that close attention should be paid to the new variant, but no big moves will be taken for the moment.

Zhang Wenhong, China’s leading infectious disease specialist, said on Sunday that “the Omicron variant will not exert any major impact on China as things stand," adding that the country's swift response and dynamic "zero-case" policy provide authorities with the ability to cope with any coronavirus variant.

Hong Kong reported three confirmed COVID-19 cases on Sunday and tightened its quarantine rules for arrivals after recording cases of the new variant.

上周，新变种新冠病毒突然来袭，全球市场“虎躯一震”。

上周在南非发现新冠病毒变异毒株，世卫组织将该变异株名为Omicron，上周五全球市场波动巨大。周一，亚洲市场虽然继续下跌，但恐慌情绪已有缓和的趋势。A股上证指数低开高走，收盘微跌，深成指则微涨0.22%。

由于Omicron携带更多基因突变，存在更具传染力并弱化现有新冠疫苗效力的可能，多国已针对非洲南部多国发布旅行禁令。疫情担忧下，VIX恐慌指数飙升，国际原油大跌，海外股市普遍调整，美股板块中能源、旅游、航空股领跌。

专家表示，病毒变异株Omicron对全球股市均有影响，A股开盘或受冲击，但整体影响或相对有限。我国公共卫生系统有着及时、高效的应对措施，且经历之前的多轮疫情冲击，国内无论居民还是公共卫生系统均有着防疫经验，新病毒变异株对国内的影响小于国外。

11月28日，钟南山、张文宏对新冠病毒变异毒株Omicron作出最新研判。中国工程院院士钟南山表示，Omicron变异株的危害性还需要一段时间的判断，需要随时注意，但是现在还不会采取比较大的行动。上海市新冠肺炎临床救治专家组组长、复旦大学附属华山医院感染科主任张文宏医生表示，新变异株奥密克戎对中国目前还不会产生大的影响，中国目前的快速响应与动态清零策略是可以应对各种类型的新冠变种的。

27日，香港公布3例Omicron感染病例。特区政府为堵截新出现的新冠变种病毒Omicron，27日起禁止南非等非洲8个国家的非本港居民入境。

Update on COVID-19

疫情简报

• The Chinese mainland reported 21 new local cases yesterday, of which 20 are from Inner Mongolia.

  全国昨日新增21例本土确诊病例（内蒙古20例，均在呼伦贝尔市；云南1例，在德宏傣族景颇族自治州）。

Next on industry and company news

产经消息及公司新闻 

• Profits of China's major industrial firms maintained sound growth momentum in the first 10 months of the year, official data showed Saturday. Industrial firms saw their combined profits soaring 42.2 percent year on year in the January-October period to top 7.16 trillion yuan, data from the National Bureau of Statistics (NBS) showed.

  10月工业企业利润稳中有升：11月27日，国家统计局发布数据显示，前10个月，全国规模以上工业企业实现利润总额71649.9亿元，同比增长42.2%，比2019年1月份—10月份增长43.2%，两年平均增长19.7%。

• Meituan reported its biggest loss in three years, weighed down by a bruising antitrust probe, an investment spurt and mounting competition from Alibaba Group. Revenue for the September quarter climbed to 48.8 billion yuan. The net loss widened to almost 10 billion yuan, as the Tencent-backed food delivery behemoth incurred a 3.44 billion yuan fine for violating antitrust rules.

  美团Q3财报：11月26日晚间，美团发布了34亿元反垄断处罚后的首份财报。第三季度，美团的营业收入达到488.3亿元，同比增长37.9%；经调整后净亏损55.3亿元。此前美团实施“二选一”垄断行为，被市场监管总局行政处罚34.42亿元。

• Chinese smartphone giant Xiaomi officially signed a cooperation agreement to build a car plant in Beijing, a statement on Saturday revealed. The new plant will be able to produce 300,000 vehicles annually for Xiaomi's EV unit.

  小米造车正式落户北京：11月27日，北京经济技术开发区管委会与小米科技正式签订《合作协议》，宣告小米汽车落户北京经开区。该项目将建设小米汽车总部基地和销售总部、研发总部，并建设年产能30万辆的整车工厂，分一期和二期各15万辆产能，预计2024年首车下线。

Switching gears to the financial sector

金融市场要闻

• Chinese media reports that personal money reception codes "will be banned for business operations" is misleading, China's central bank said. Merchants who use personal money reception codes need to apply to collection service agencies, such as WeChat and Alipay, to switch to commercial collection codes, but consumers' daily payment experiences will not be affected.

  央行回应“收款二维码不能用”传闻：近日有消息称，“微信、支付宝收款码不能用于经营收款”，中国人民银行有关部门表示该说法系误读。使用“码牌”或者打印封装的二维码的商户，需要向收款服务机构（如微信、支付宝等）申请转为商用收款码，但消费者日常支付体验和感受不会受到影响。

• China has fined Tenpay, an online-payment unit of Tencent Holdings, 2.8 million yuan (US$438,000) for violating foreign exchange rules. The unit was ordered to rectify its failure to submit relevant materials and for carrying out foreign exchange business beyond the scope of its business registration, according to the State Administration of Foreign Exchange (SAFE) branch in Shenzhen.

  微信财付通被罚：日前，国家外汇管理局深圳市分局发布一批行政处罚决定，财付通支付名列其中，被没收违法所得2000元，处以罚款278万元。财付通存在未按规定报送相关材料，超过登记范围开展外汇业务，未按规定办理售汇业务，未按规定采集必要信息等四项违法行为。对此财付通最新回应称，已第一时间制定了改进计划，目前已全部完成整改。

Wrapping up with a quick look at the stock market

最后来看股市收盘情况

• Chinese stocks closed mixed today as the new Omicron variant led medical and pharmaceutical stocks to jump. Shares of auto parts and e-cigarette also recorded gains. The Shanghai Composite closed flat, while the Shenzhen Component went up 0.22 percent. The Hang Seng Index edged down 0.95 percent, dragged by the tech sector and stocks of gambling and airlines.

  周一A股股市涨跌不一，沪指小跌0.04%，深成指涨0.22%。抗病毒概念股全天强势，汽车零部件板块持续活跃，电子烟概念股继续走强。港股恒生指数跌0.95%，互联网科技板块走弱，博彩股、航空股等板块集体下挫。 

Biz Word of the Day

财经词汇划重点

• The State Administration of Foreign Exchange (SAFE)of the People's Republic of China is an administrative agency under the State Council tasked with drafting rules and regulations governing foreign exchange market activities, and managing the state foreign-exchange reserves.

  国家外汇管理局是国务院负责外汇管理工作的部门。其职能包括承担国家外汇储备、黄金储备和其他外汇资产经营管理的责任，参与起草外汇管理有关法律法规和部门规章草案等。

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

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Editor: LI Yanxia

Host: Stephanie LI

Writer: Stephanie LI, ZHANG Ran

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