CBN丨China's stable economic growth is of great significance to global recovery: WEF president

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 

• Davos 2022 returns after a two-year break;

• China will encourage qualified digital cultural companies to go public in a bit to promote the digitalisation in the culture sector.

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

中国经济要闻

China's stable economic growth is of great significance to global recovery, and "what happens in China, of course, has (a) huge impact on the rest of the world, and vice versa," World Economic Forum (WEF) President Borge Brende said in a recent interview.

As the world's second-largest economy, China has experienced rapid development in the past half-century. Nearly 800 million Chinese people have been lifted out of extreme poverty, and China's infrastructure construction has achieved remarkable results, he said, noting that the environment in China has also been greatly improved.

In the last decade, China has made a huge contribution to global economic growth, as its contribution to world economic growth has generally remained around 30 percent, said the president.

In the face of the COVID-19 pandemic, China's economic growth faces some short-term challenges. But the Chinese government is taking measures to expand domestic demand, reduce export dependence and cultivate high value-added industries to ensure economic growth, Brende said.

"So long- and medium-term, I'm quite bullish on China's economy," said the president.

As to the Russia-Ukraine conflict, Brende said it has dragged down economic growth in Europe and triggered global challenges, such as the energy crisis and high inflation, further slowing down the global economic recovery.

Brende also called on countries to use monetary policy prudently, avoid trade protectionism and beggar-thy-neighbour policies, continue to cooperate on global value chains, and promote global economic recovery in a win-win manner.

Global challenges need global solutions, he said. "We all are in the same boat, and we have to act accordingly."  

The WEF 2022 Annual Meeting, known as Davos 2022, is being held from Sunday to Thursday in Davos, Switzerland. After a two-year hiatus due to the COVID-19 pandemic, it will bring together nearly 2,500 leaders and experts from around the globe, to discuss the unprecedented global challenges governments are currently facing, including post-pandemic recovery, the Ukraine crisis and climate change.

世界经济论坛总裁博尔格·布伦德日前在瑞士日内瓦接受新华社记者专访时表示，中国为世界经济增长作出巨大贡献，中国经济稳定增长对全球复苏具有重要意义。

他说，中国是全球第二大经济体，“在中国发生的事情，当然会对世界其他地区产生巨大影响”。

布伦德说，中国在过去半个世纪里高速发展，近8亿人摆脱贫困，基础设施建设成果显著，环境问题大幅改善，在高新技术领域也居于领先地位。过去10年，中国经济对世界经济增长的贡献率保持在30%左右。

布伦德表示，面对新冠疫情冲击，中国经济增长面临一些短期挑战，但中国政府正采取扩大内需、减少出口依赖、培育高附加值行业等措施确保经济增长。“我看好中国经济的中长期前景。”

当前俄乌冲突爆发导致欧洲经济增长放缓，并引发能源危机、通胀高企等问题，进一步拖累世界经济复苏。发展中国家和新兴经济体在危机中尤为脆弱，“我们必须避免今年春天出现的全球增长放缓不会以衰退告终”。

布伦德呼吁，各国应审慎使用货币政策，避免贸易保护主义和以邻为壑的政策，继续在全球价值链上进行合作，以共赢方式推动世界经济复苏。应对全球挑战需要全球解决方案，“全人类都在一条船上，我们必须携手应对挑战”，他说。

今年5月22日至26日，世界经济论坛2022年年会将在瑞士达沃斯举行。此次年会主题为“历史转折点：政府政策和商业策略”，将聚焦影响多极世界的“前所未有”的地缘经济挑战，包括新冠疫情后的经济复苏、乌克兰危机等议题。

• China will support scientific and innovative digital cultural firms to list on the STAR Market of Shanghai Stock Exchange to widen their financial channels, according to guidelines issued by the General Office of the Communist Party of China Central Committee and the State Council. The guidelines announce the construction of a number of nation-level innovation centres and science and innovation labs for cultural digitalisation. Efforts will also be made to secure the safety of cultural data during the processing, distribution and storage. By 2035, a national cultural big data system will be established, where digital achievements of Chinese culture will be shared by all.

  支持数字化文化企业上市：近日印发的《关于推进实施国家文化数字化战略的意见》提出，支持符合科创属性的数字化文化企业在科创板上市融资。探索建立文化资源数据价值评估体系。健全与资金需求和期限相匹配的筹资渠道。加强文化数据安全保障，加强文化数字化全链条监管。意见还明确，到2035年，建成物理分布、逻辑关联、快速链接、高效搜索、全面共享、重点集成的国家文化大数据体系，中华文化全景呈现，中华文化数字化成果全民共享。

Update on COVID-19

疫情简报

• With the outbreak of Covid-19 in Shanghai getting under control, four metro lines in the city, including metro Line 3, Line 10, Lines 6 and 16, resumed operation starting yesterday. The initial operating schedule is from 7 a.m. to 8 p.m. with an interval of about 20 minutes. 

  上海4条地铁线恢复运营：5月22日开始，上海轨道交通3号线、6号线、10号线、16号线将恢复运营，运营时段均为早上7时到晚上20时，行车间隔约为20分钟。

Next on industry and company news

产经消息及公司新闻

• Shares in Zj Biotech hit the upper trading limit of 20 percent on Monday and those in Sansure Biotech jumped 16 percent after the Chinese pharma firms said they have developed monkeypox test kits as monkeypox becomes the latest viral outbreak to cause global panic. Another molecular diagnostic solution provider Jiangsu Bioperfectus Technologies also finished up 10 percent. There have been 92 confirmed cases and 28 suspected cases worldwide since May 13, according to the latest data from the World Health Organisation. Although China has not reported any monkeypox so far, experts warn that the risk of imported cases is increasing.

  “猴痘”病毒相关版块异动：连日来，全球10余个未流行猴痘病毒的国家已报告确诊病例和疑似病例，引发高度关注。与此同时，圣湘生物、之江生物等国内多家上市公司近日宣称，已储备猴痘病毒核酸检测试剂等相关产品，相关股票随之走高。圣湘生物收涨15.84%、之江生物涨停，硕世生物涨10.41%。根据世界卫生组织最新消息，截至2022年5月21日，3大洲12个非猴痘流行的WHO成员国报告了92例确诊病例和28例疑似病例。专家指出，随着欧美出现疫情，我国输入性病例的风险也会相应增加。

• FAW-Volkswagen Audi apologised on Sunday after its new video ads featured famous Hong Kong star Andy Lau was accused of copying from a Douyin influencer. In a statement, Audi apologized for the trouble caused to Lau, the original author and relevant parties for its inadequate supervision and audit of the content. It said that it has removed the video from its official social media platforms.

  奥迪因广告涉嫌抄袭道歉：5月21日，一汽-大众奥迪在其视频号等平台推出了一则以刘德华为主角的科普小满节气的视频广告。视频发布当晚，一抖音博主表示该商业广告的文案几乎照搬其发布过的视频文案。5月22日，一汽-大众奥迪紧急发布声明，就该事件中因监管不力、审核不严造成的困扰致歉。

• The average salary of China's urban employees saw robust growth in 2021, official data showed on Friday. Real growth in the average salary for urban employees in the non-private sector, adjusted for inflation, rose by 8.6 percent to 106,837 yuan, according to data from the National Bureau of Statistics. In the private sector, the annual average salary stood at 62,884 yuan, up 7.8 percent year on year after the deduction of price factors.

  2021年平均工资增长强劲：根据国家统计局5月20日公布的数据显示，2021年全国城镇非私营单位就业人员年平均工资为106837元，扣除价格因素，比上年实际增长8.6%；全国城镇私营单位就业人员年平均工资为62884元，扣除价格因素，比上年实际增长7.8%。

Switching gears to the financial sector

金融市场要闻

• China’s four first-tier cities has lowered banks’ mortgage interest rate by 15 basis points, media reported Monday. According to the mortgage department at several branches of ICBC in Beijing, Guangzhou and Shenzhen, the over-five-year loan prime rate (LPR), on which many lenders base their mortgage rates, has been reduced from 4.6 percent to 4.45 percent.

  一线城市房贷利率已下调：据媒体23日报道，北京、广州、深圳地区的工商银行多个支行房贷部负责人称，目前，5年期以上LPR报价由之前的4.6%，降低到了4.45%，降低了15个基点。在此基础上，各地上浮情况不同。 

• China will promote the reform of small rural commercial banks with the aim to prevent risks and enhance their capability in serving real economy, head of relevant department of the China Banking and Insurance Regulatory Commission said on Friday. The regulator stressed that these lenders are prohibited from allowing large deposits and expanding lending operations to urban areas outside their normal areas of business.

  推动农村中小银行改革化险：5月20日, 中国银保监会相关部门负责人表示，将深入推进农村中小银行改革化险，持续增强服务实体经济能力。此类银行不得吸收异地大额存款，不得发放异地贷款。

Wrapping up with a quick look at the stock market

最后来看股市收盘情况

• Chinese stocks closed down on Monday as Beijing reported 99 new COVID-19 cases on Sunday, the highest daily tally in the capital during the current outbreak. The benchmark Shanghai Composite closed flat while the Shenzhen Component slipped 0.06 percent. Sectors related to automobile and steel were among the top gainers, while shares in real estate and banks saw great losses. The Hang Seng Index closed 1.17 percent lower and the TECH Index lost 2.42 percent. 

  周一A股走势分化。沪指收盘涨0.01%，深成指跌0.06%，创业板指跌0.3%。板块方面，汽车整车、钢铁行业等涨幅居前，房地产服务、银行等跌幅靠前。港股恒生指数收跌1.17%，恒生科技指数收跌2.42%。

Biz Word of the Day

财经词汇划重点

• Value-added is the difference between the price of product or service and the cost of producing it. It helps explain why companies are able to sell their goods or services for more than they cost to produce.

• 附加价值是在产品的原有价值的基础上，通过生产过程中的有效劳动新创造的价值，即附加在产品原有价值上的新价值。

（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, XIE Kaishan

Sound Editor: ZHANG Ran, XIE Kaishan

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

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编委:  于晓娜

策划、编辑：李艳霞 

播音：李莹亮

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