CBN丨China aims to build world-class steel conglomerates to gain global edge

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 encourages steel industry consolidation through M&As among local firms;

• China's freestyle skiing star Ailing Gu won her first gold medal in a much-anticipated Winter Olympic debut.

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

中国经济要闻

Chinese authorities released a guideline on Monday encouraging domestic steel mills to consolidate through mergers and acquisitions (M&As) to create world-class steel giants and accelerate the sector's high-quality development.By relying on the dominant enterprises in the industry, one or two pilot enterprises in the fields of stainless steel, special steel, seamless steel pipe and other special items are expected to be cultivated. 

M&As across different regions and ownership groups are encouraged to change the "fragmented" structure of the nation's iron and steel industry and enhance the endogenous power of enterprises, the guideline noted.

In addition, financial institutions are urged to provide comprehensive financial services to iron and steel enterprises pursuing M&As, structural adjustments, transformations and upgrading. 

The guideline also sets goal for steel industry to reach carbon emissions peaking in 2030, revised from the 2025 deadline set in the draft in December, 2021. 

To reach the goal, China will upgrade over 80 percent of steel production capacity to achieve ultra-low emissions, cut overall energy consumption per ton of steel by more than 2 percent, and reduce water consumption intensity by more than 10 percent.

The policies gave a strong boost for the A-share infrastructure sector. Following yesterday’s gain, Hualan Group surged another 20 percent today, with Hongrun Construction and Zhongyan Techonology both up 10 percent.

2月7日，工业和信息化部、国家发展和改革委员会、生态环境部联合发布《关于促进钢铁工业高质量发展的指导意见》（以下简称《意见》）。意见称，力争到2025年，钢铁工业基本形成布局结构合理、资源供应稳定、技术装备先进、质量品牌突出、智能化水平高、全球竞争力强、绿色低碳可持续的高质量发展格局。

《意见》指出，鼓励行业龙头企业实施兼并重组，打造若干世界一流超大型钢铁企业集团。依托行业优势企业，在不锈钢、特殊钢、无缝钢管、铸管等领域分别培育1-2家专业化领航企业。鼓励钢铁企业跨区域、跨所有制兼并重组，改变部分地区钢铁产业“小散乱”局面，增强企业发展内生动力。有序引导京津冀及周边地区独立热轧和独立焦化企业参与钢铁企业兼并重组。鼓励金融机构按照风险可控、商业可持续原则，积极向实施兼并重组、布局调整、转型升级的钢铁企业提供综合性金融服务。

与2020年12月31日发布的征求意见稿相比，《意见》中钢铁行业碳达峰目标的实现时间点有所缓和，从“力争2025年率先实现碳排放达峰”改为“确保2030年前碳达峰”。为实现这一目标，《意见》指出，要构建产业间耦合发展的资源循环利用体系，80%以上钢铁产能完成超低排放改造，吨钢综合能耗降低2%以上，水资源消耗强度降低10%以上。

昨日掀涨停潮的基建股今日继续走强，华蓝集团涨20%，连续第二日涨停，宏润建设涨、中岩大地涨10%。

• The Ministry of Education released its work plan for 2022 on Tuesday, vowing to give priority to further implementing the “double reduction” policy, by consolidating achievements made in reducing the number of curricular tutoring institutions and carry out regular inspections. The ministry also said it will standardise training fees and push for legislations on supervising off-campus tutoring.

  “双减”仍是教育部工作重点：2月8日，教育部发布2022年工作要点。教育部表示，2022年，要深入推进“双减”，继续把“双减”工作摆在突出位置、重中之重。着力巩固学科类培训机构压减成果，在法定节假日、休息日、寒暑假指导各地开展常态巡查、坚决关停。加大对隐形变异培训查处力度，开展专项治理。规范培训收费行为，加强培训预收费监管。推动校外教育培训监管立法，加强执法力量，提升执法能力，抓好执法巡查。

• China's 18-year-old skier Ailing Gu kicked off her Olympic debut with a gold medal in the freestyle skiing women's free-ski big air event at Beijing Winter Olympics today. Short-track speed skaters Ren Ziwei and Li Wenlong took the gold and the silver in the men's 1,000m last night. By 5 p.m Tuesday, China rises to the fourth in the medal tally with 3 golds and 2 silvers.

  直击冬奥：2月8日，北京冬奥会自由式滑雪女子大跳台决赛中，“天才少女”谷爱凌第三跳挑战从未做出的超高难度动作成功夺冠。这是该项目的冬奥会历史首金，是北京冬奥会中国代表团雪上项目首金。7日晚间短道速滑男子1000米决赛中，中国队任子威夺得冠军，李文龙获银牌。截至2月8日下午5时，中国队累计获得3金2银，排名上升至第四位。

Update on COVID-19

疫情简报

• The Chinese mainland reported 65 domestic cases on Monday，with 64 in Baise city of Guangxi province. Hong Kong reported 614 new local cases yesterday, the highest ever since the pandemic began. The city will start a new community isolation centre in Penny’s Bay for patients and home quarantine for close contacts on Tuesday.

  2月7日，内地新增本土病例65例（广西64例，均在百色市；天津1例，在河北区）。昨天香港新增614例确诊病例，创疫情以来的新高。特区政府宣布8日启用竹篙湾社区隔离设施，同时启动居安抗疫计划。

Next on industry and company news

产经消息及公司新闻

• Ant Group-backed online lender MYBank was slapped a 22.37 million yuan fine by China’s central bank for breaching credit scoring management and anti-money laundering rules. The bank failed to follow regulations on financial statistics, account management and so on, the Hangzhou branch of the People’s Bank of China said on Monday.  

  网商银行违规被罚2000万：7日，中国人民银行杭州中心支行网站公布的行政处罚信息公示表显示，浙江网商银行股份有限公司存在违反金融统计管理、账户管理、清算管理、征信管理等相关规定的行为，中国人民银行杭州中心支行对其警告，并处罚款2236.5万元。

• Disgraced Chinese startup Luckin Coffee said it had paid $180 million to settle fraud charges in the U.S., in what appeared to be the latest step of a campaign to relist on the Nasdaq 20 months after the Starbucks rival was booted in a fake revenue scandal. 

  瑞幸天价罚单交完：8日，瑞幸咖啡称已向美国证券交易委员会（SEC）缴纳1.8亿美元罚款。在2020年末，瑞幸与SEC就相关财务造假调查达成和解，前者同意向SEC支付1.8亿美元的民事罚款。据悉，瑞幸通过债务重组安排向公司的证券持有人支付现金，已经满足了法院最终判决的惩罚条款。

• Bilibili, one of China's leading video-sharing platforms, said on Monday the recent sudden death of one of its employees was not caused by overtime work and the company has worked with police to probe the case. The statement came after a netizen claimed on social media platform that AI audit team leader from Bilibili died and drew public anger.  

  B站回应“员工加班猝死”：7日，有微博用户称B站武汉AI审核组组长过年期间加班猝死，引发网友议论。B站回应，经内部考勤核查，该员工按照工作计划正常上下班，事发前一周内未存在加班等情况。目前，B站已成立专项小组，正配合警方和家属处理后续事宜。

• Chinese telecom giant Huawei is reported to be distributing over 50 billions yuan in dividends to 120,000 staff shareholders for 2021 to further inspire morale, with the pre-tax amount per share expected to be 1.58 yuan ($0.25).  

  华为人均分红40万元：6日消息，华为将发放2021年分红，预计每股1.58元。根据2020年年报，华为总股本约为340亿股，据此计算，华为将拿出超500亿元给员工分红。该公司员工持股计划参与人数为12万人，人均分到超40万元。

• New York-listed Alibaba dropped 4.5 percent on Monday after registering one billion additional American depositary shares, which some analysts suggest that SoftBank may intend to sell part of its stake in the Chinese e-commerce giant.  

  市场猜测软银或减持阿里：5日消息，阿里巴巴向美国证券交易委员会申请注册额外10亿份ADS(美国存托股票)。市场猜测这可能意味着软银计划出售所持有的阿里巴巴股份。受此消息影响，阿里巴巴周一美股暴跌4.5%。

Switching gears to the financial sector

金融市场要闻

• China's forex reserves recorded an unexpected month-on-month fall in January as the US dollar gained, official data showed Monday. The country's forex reserves fell $28.53 billion to $3.22 trillion last month.  

  1月末外汇储备环比微降：国家外汇管理局7日发布数据显示，截至2022年1月末，我国外汇储备规模为32216亿美元，较2021年末下降285亿美元，降幅为0.88%。

• Yang Xiaoping, former Party secretary of Kunming's branch of the central bank, Southwest China's Yunnan Province, was suspected of serious discipline violations and is under investigation, the Communist Party of China's top disciplinary agency confirmed on Monday.  

  央行昆明支行原行长被查：中央纪委国家监委网站2月7日信息显示，据中央纪委国家监委驻中国人民银行纪检监察组、云南省监察委员会消息：中国人民银行昆明中心支行原党委书记、行长杨小平涉嫌严重违纪违法，目前正接受纪律审查和监察调查。

Wrapping up with a quick look at the stock market

最后来看股市收盘情况

• Chinese stocks closed mixed on Tuesday with stocks in the financial and infrastructure sectors leading the gains. The benchmark Shanghai Composite was up 0.67 percent, while the Shenzhen Component fell 0.98 percent. The Hang Seng Index lost 1.02 percent, dragged by the tech sector. 

  周二A股涨跌不一，沪指收涨0.67%，深成指跌0.98%。大金融板块走强，基建股再度拉升。港股恒生指数跌1.02%，科技指数跌1.67%。

Biz Word of the Day

财经词汇划重点

• Freeski big air is one of seven sports debuting at the 2022 Games, where skiers slide down a nearly 60-foot tall ramp that tilts up at the end and shoots them into the sky. Points are awarded for the number of rotations, flips and grabs completed during “air time.”  

  自由式滑雪大跳台是北京2022年冬奥会新增竞技项目之一，运动员从一个近50米高的斜坡上下滑，顺滑、倒滑都可以选择，然后在斜坡的尽头腾跃，完成空翻、转体、抓板等技术动作组合。动作观赏性强、视觉冲击力大的自由式滑雪大跳台是目前“冬奥大家族”中最年轻的项目。

（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, WEN Sixian

Producer: XIANG Xiufang

Sound Editor: WEN Sixian

Graphic Designer: ZHENG Wenjing, LIAO Wanni

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 

播音：李莹亮

撰稿：李莹亮、张然、温思娴

监制：向秀芳 

音频制作：温思娴 

设计：郑文静、廖苑妮

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