CBN丨China calls for more steps to improve business climate, further efforts to consolidate recovery

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's cabinet urged the 19-measure stimulus package to be completed by early September, while pledging to lower government-imposed transaction fees;

• Guangdong will issue more consumption vouchers and increase car purchase quotas in Guangzhou and Shenzhen.

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

中国经济要闻

China will take further steps to foster an enabling business climate and lower government-imposed transaction costs, to continuously ease the burden on market players and unleash their vitality, according to a decision made at the State Council's executive meeting chaired by Premier Li Keqiang on Wednesday.

Unwarranted business-related fees will be redressed thoroughly, and the exercise of government power will be strictly delimited, while irregularities such as arbitrary charges and excessive taxes and fees will be dealt with, the premier said.

Wednesday’s meeting also stressed the package of 33 stabilisation measures should be fully functional, and details of the follow-up 19 measures that were announced last week should be finalised by early September. 

The meeting also called for localities to make good use of policy tools to address the problems in the property market, based on the city-specific principle, making flexible use of phased credit policies and special loans aimed at ensuring home delivery, and boost consumption on big ticket items like cars.

The cabinet will also send a second batch of inspection teams to certain provinces to supervise on their implementation of the stabilisation measures. 

国务院总理李克强8月31日主持召开国务院常务会议，听取稳住经济大盘督导和服务工作汇报，部署充分释放政策效能，加快扩大有效需求；确定进一步优化营商环境、降低制度性交易成本的措施，持续为市场主体减负激活力。

会议指出，要贯彻党中央、国务院部署，保持经济运行在合理区间，努力争取最好结果。针对经济超预期因素冲击，前期能用尽用近两年储备的政策工具，及时果断推出稳经济一揽子政策和接续政策，因市场主体在一些方面遇到的困难比2020年多，今年退税减税降费等超过2020年，并出台了有力度的稳投资促消费政策，总体政策规模合理适度。

会议指出，要用“放管服”改革办法再推进稳经济一揽子政策发挥效能，接续政策细则9月上旬应出尽出，着力扩大有效需求，巩固经济恢复基础。

一是在用好新增3000亿元以上政策性开发性金融工具基础上，对符合条件项目满足资金需求，避免出现项目等资金；将上半年开工项目新增纳入支持，以在三季度形成更多实物工作量。

二是扩大政策性开发性金融工具支持领域，将老旧小区改造、省级高速公路等纳入，尽可能吸引民间投资。

三是出台支持制造业企业、职业院校等设备更新改造的政策。

四是引导商业银行为重点项目建设、设备更新改造配足中长期贷款。有关部门和银行要完善考核办法，形成激励机制。

五是对重点项目继续采取集中办公等方式，提高审批效率。地方政府可根据职权作出承诺，项目落地后补办手续。

六是支持刚性和改善性住房需求，地方要“一城一策”用好政策工具箱，灵活运用阶段性信贷政策和保交楼专项借款。促进汽车等大宗消费。

七是国务院再派一批督导和服务工作组，赴若干省份推动政策落实。

八是各地也要建立督导和服务工作机制。项目要按照有回报、保证资金不挪用和工程质量的原则不失时机推进。

• The 3-day World Artificial Intelligence Conference (WAIC) 2022 kicks off today at the Shanghai World Expo Center. Themed "Intelligent Connectivity, Infinite Multiverse", the conference will gather pioneers from the global technology industry to discuss major topics regarding technological innovation, metaverse, brain-computer interface, and unmanned systems. 

  2022世界人工智能大会开幕：2022世界人工智能大会9月1日上午在上海世博中心拉开帷幕。为期三天的大会将围绕“人类、科技、产业、城市、未来”五大元素，以“元宇宙”为切入点，深度演绎“智联世界 元生无界”的主题。

• The new growth driver index, compiled by the National Bureau of Statistics, increased by 35.4 percent in 2021 from a year earlier to 598.8, the bureau said Wednesday, meaning that new development drivers including rapid internet economic growth, growing online consumption, increasing economic vitality and rising R&D investment are increasingly underpinning China's growth. 

  我国经济发展新动能指数增35.4%：国家统计局8月31日发布数据显示，2021年我国经济发展新动能指数为598.8，比上年增长35.4%。国家统计局人员表示，以新产业、新业态、新模式为主要内容的新动能实现稳步成长，为推动经济高质量发展持续注入新动力。其中，网络经济指数增长最快，新增市场主体保持良好增长态势，创新驱动发展取得新成效，产业结构优化升级。

Moving on to regional highlights

区域观察

• Guangdong Province has maintained robust economic growth with GDP more than doubled to 12.4 trillion yuan in 2021, up from 5.7 trillion yuan in 2012, the governor of Guangdong told a press briefing on Wednesday. It also made great strides in high-quality development over the past decade, promoting the development of the Guangdong-Hong Kong-Macao Greater Bay Area. During the period, the province has nurtured 20 strategic industrial clusters, and its research and development spending has more than doubled.

  广东GDP达12.4万亿：8月31日，“中国这十年·广东”主题新闻发布会上介绍，10年来，广东经济实力连年跃升，广东地区生产总值从2012年的5.7万亿元增长到2021年的12.4万亿元；高质量发展迈出大步，深入推进粤港澳大湾区建设；持续推进制造强省、科技创新强省建设，10年来培育发展20个战略性产业集群。

• Guangdong Province on Wednesday rolled out a series of new measures to boost consumption by encouraging issuance of consumption coupons. Guangzhou and Shenzhen will further improve their regulations for car purchases and increase the car purchase quotas. Guangdong plans to halve the vehicle purchase tax for passenger cars that meet the requirements and to lower value added taxes for selling used cars. The province also encouraged cities to continue issuing consumption coupons with a discount rate of up to 20 percent, to be used for catering, tourism, accommodation, sports and other areas. 

  广深进一步增加购车指标：8月31日，广东省政府网站公布了《广东省加大力度持续促进消费若干措施》，鼓励各地市继续发放零售业(不含汽车销售)、餐饮、文旅、住宿、体育领域消费券，消费券抵扣金额最高不超过20%。广州、深圳将进一步完善购车资格规定、增加购车指标。此外，全面落实符合要求乘用车减半征收车辆购置税和二手车经销企业销售旧车交易增值税由2%下调至0.5%减税政策。

• China's annual services trade fair that opened Wednesday in Beijing is zeroing in on green and innovative development amid China's unswerving pledges for peak carbon and carbon neutrality, with global firms displaying their latest green technologies and applications at a newly created environmental services section at the major fair.  

  2022服贸会聚焦绿色创新产品：8月31日，年度主题为“服务合作促发展 绿色创新迎未来”的2022年中国国际服务贸易交易会，将在国家会议中心和首钢园区举办。大会以“双碳赋能·焕发创新动力”为主题，设立低碳能源、气候与碳经济、碳中和与绿色技术、创‘双碳’示范城市、环保产业五大专区，包括中石化、国家电投和丰田等众多中外企业汇聚，集中展示全球环境服务领域的最新成果和技术应用。

Next on industry and company news

产业及公司新闻

• China's box office during the summer film season from June to August reached 9.13 billion yuan, up 23.7 percent over last year's value of 7.38 billion yuan, and attracted 233 million moviegoers, according to Chinese ticketing platform Maoyan on Wednesday. Scientific comedy Moon Man claimed first place with nearly 2.9 billion yuan in box office. 

  暑期档票房超91亿收官：据猫眼专业版数据，2022年暑期档（6月1日-8月31日）总票房达91.34亿，较去年暑期档的73.81亿上涨23.75%，总场次为2968.3万，总人次2.33亿。《独行月球》以近29亿元票房位列第一。

• Chinese airlines are operating more intercontinental cargo flights to meet rising overseas demand. China Southern Airlines said it arranged another B777F cargo flight from Shanghai to Chicago on Tuesday, taking its total cargo fleet to seven. Shandong Airlines said on Wednesday that it received its first freight flight from Boeing and will cover more cargo routes from Qingdao to cities in Japan. 

  国内航司开通更多洲际货运：8月31日，山航首架737-800波音改装货机成功（BCF）交付，山航将开通青岛至大阪、名古屋货机航线。30日，中国南方航空CZ435货机航班从上海浦东国际机场顺利起飞前往美国芝加哥，这是南航调拨至上海的第7架B777F货机抵沪后执行的首个货机航班。自此南航在上海已全面恢复7架全货机运力。

• NetEase announced Wednesday that its gaming arm has acquired French game developer and publisher Quantic Dream SA, as the firm is stepping up international expansion of its gaming business. With Quantic Dream, it secures its first studio in Europe and the developer of a coming game in the Star Wars franchise.

  网易收购法国游戏商：31日，网易宣布，其游戏部门“网易游戏”已收购法国游戏开发和发行商Quantic Dream。交易完成后，Quantic Dream将成为网易游戏在欧洲的第一家工作室，这也是实现网易“支持全球创新和游戏开发”愿景的重要一步。

• Oriental Select, the livestreaming e-commerce arm of the Chinese online education provider Koolearn, announced Wednesday to join hands with Chinese logistics giants SF Holding and JD Logistics. It will set up 20 self-operated warehouses in 5 cities with the two delivery giants. 

  东方甄选与顺丰京东合作：8月31日，新东方在线旗下“东方甄选”平台宣布，东方甄选已与顺丰物流、京东物流达成紧密合作伙伴关系，在北京、广州、杭州、郑州、成都5个城市，计划建立20个自营产品仓库，为自营产品提供面向全国的物流服务保障。顺丰物流方面，东方甄选自营产品常温仓发货，已基本覆盖全国。

• Chinese oilfield services firm Zhongman Petroleum and Natural Gas Group said its United Arab Emirates-based subsidiary will pay $46.6 million to obtain 24.3 percent equity in China Rising Energy International’s Dubai unit, raising its stake to 51 percent, and in this way take control of an oil and gas field in Kazakhstan, Shanghai-based firm said on Wednesday.

  中曼石油拟收购昕华夏迪拜24.33%股权：中曼石油8月31日晚间公告，公司全资子公司中曼海湾拟收购昕华夏能源下属昕华夏开曼持有的昕华夏迪拜24.33%股权。本次股权收购交易金额为4662.42万美元，收购完成后，中曼海湾将持有昕华夏迪拜51%股权，从而间接控制坚戈区块。

Earnings reports express

财报速递

• China's state railway operator said it handled 1.95 billion tons of goods in the first half of 2022, a year-on-year increase of 5.5 percent. The national giant also completed and put into operation 2,043.5 kilometers of new railway lines, including 995.9 kilometers of high-speed railway (HSR), according to a financial disclosure that China State Railway Group released on Wednesday. In the first half of the year, the group reported operating income of 485.7 billion yuan, a year-on-year decrease of 27.1 billion yuan, and a net loss of 80.4 billion yuan. 

  国铁集团上半年营收4857亿元：“中国铁路”公众号消息，8月31日，中国国家铁路集团有限公披露了2022年上半年财务决算。2022年上半年，发送货物19.46亿吨，同比增长5.5%，建成投产新线2043.5公里。受多点散发疫情影响，发送旅客7.87亿人次，同比下降42.8%，国铁集团实现营业总收入4857亿元，同比减少271亿元。

• Tianqi Lithium, one of China’s biggest lithium miners, reported Tuesday an almost 12,000 percent increase in first-half profit to 10.3 billion yuan from a year earlier, after lithium prices jumped and an investment paid off, the Chengdu-based company said Tuesday, while revenue soared 508 percent to 14.3 billion yuan. Meanwhile, Ganfeng Lithium’s first-half net profit soared 412 percent to 7.3 billion yuan from a year earlier, and revenue popped 255 percent to 14.4 billion yuan.  

  两大锂业龙头上半年净利暴增：30日，天齐锂业与赣锋锂业上半年业绩报相继出炉，净利暴涨成为关键词。财报显示，天齐锂业上半年营收为142.9亿元，归属上市公司股东净利润达103亿元，同比增长11937.16%，净利润率为72.24%，位居A股锂矿板块之首。赣锋锂业上半年营收144亿元，归属上市公司股东净利润为72亿元，扣非净利润80.32亿元，扣非净利润率达55.6%。

• Chinese bubble tea chain Nayuki Holdings reported its revenue in the first half dipped 3.8 percent in the first six months from a year earlier to 2 billion yuan, the firm said Wednesday. It posted a loss of 249 million yuan compared with profit of 48.2 million yuan a year earlier. Online orders now account for almost half of its earnings. 

  奈雪上半年收入下滑3.8%：31日，新茶饮品牌奈雪的茶发布2022年中期业绩显示，上半年收入为20.45亿元，同比下滑3.8%；净利润为亏损2.49亿元。根据财报，2022年上半年，奈雪的茶线上订单收入占比已达到80.1%。

• Every listed operator of a scenic spot in the Chinese mainland  reported a loss for the first half amid outbreaks of Covid-19 in the country, media reported on Wednesday. The 11 listed companies lost a combined 784 million yuan during the period, according to calculations based on their financial reports. At 172.2 million yuan, Huangshan Tourism Development in Anhui province posted the biggest loss after its revenue halved to 214.1 million yuan.

  11家景点上市公司亏损：上半年，国内疫情持续反复多点散发，大部分省份实施跨省游熔断机制，受其影响，旅游业上市公司的财报不佳，尤其是其中的景点上市公司。今年上半年，11家景点上市公司净利润合计亏损7.84亿元。上述公司中，黄山旅游亏损额最高，净利润亏损金额为1.72亿元，同比下滑599.11%，降幅最大。

• The China Association for Public Companies announced on  Wednesday that 4,825 A-share companies have released their financial results for the first half, with their combined sales revenue up 9.24 percent year-on-year to exceed 34.5 trillion yuan. Their total net income climbed 3.19 percent year-on-year to 3.25 trillion yuan.

  上半年上市公司净利3.25万亿：8月31日，中国上市公司协会发布了2022年上半年上市公司半年报披露统计情况。数据显示，截至8月31日，沪、深、北证券交易所共4825家上市公司披露了2022年半年度报告。上市公司实现营业总收入34.54万亿元，同比增长9.24%；净利润3.25万亿元，同比增长3.19%，其中二季度业绩普遍好于市场预期。

Switching gears to financial news

金融市场消息

• The assets under the management of China's public offering funds totaled 27.06 trillion yuan by the end of July, the Asset Management Association of China showed on Wednesday. As of the end of July, a total of 10,123 public offering funds were being operated by 140 fund management companies. 

  我国公募基金破27万亿：8月31日，中国证券投资基金业协会发布了2022年7月公募基金市场数据。数据显示，截至2022年今年7月底，我国境内共有基金管理公司140家，市场公募基金数量合计10123只，公募基金资产净值合计27.06万亿元。

Wrapping up with a quick look at the stock market

股市收盘情况

• Chinese stocks closed lower on Thursday, with the indices of the mainboard in Shanghai and Shenzhen down 0.54 percent and 0.88 percent respectively. The Hang Seng Index shed 1.79 percent as the TECH Index retreated 1.63 percent.

  周四A股低开低走，三大指数集体收跌。截至收盘，上证指数跌0.54%，深证成指跌0.88%，创业板指跌1.42%。板块方面，煤炭、房地产、零售、种植业与林业、医药等板块涨幅居前，虚拟电厂、钙钛矿电池、光伏、储能、一体化压铸等走弱。港股恒生指数收跌1.79%，恒生科技指数收跌1.63%。

Biz Word of the Day

财经词汇划重点

• The new growth driver index measures the vitality of new industries, new business forms and models, with sub-indexes covering the internet economy, innovation capability, economic vitality, knowledge level and industrial upgrade.

  经济发展新动能指数是指随着“双创”广泛开展，新产业、新业态、新商业模式蓬勃兴起，大大激发了经济发展的新活力。包括网络经济指数，经济活力指数，创新驱动指数，转型升级指数，知识能力指数。

Executive Editor: Sonia YU

Editor: LI Yanxia

Host: Stephanie LI

Writer: Stephanie LI, ZENG Libin, HUANG Ziqing

Sound Editor: HUANG Ziqing

Graphic Designer: ZHENG Wenjing, LIAO Yuanni

Produced by 21st Century Business Herald Dept. of Overseas News.

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、曾丽镔、黄梓晴

音频制作：黄梓晴

设计：郑文静、廖苑妮

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