CBN丨Real estate sector saw a recovery in land purchases, while 5-plus years loan rates cut to 3.1%

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 

• Real estate sector rebounded in September as favourable home-purchasing policies take effect;

• China will release fifth batch of pork reserve to stabilise surging hog price.

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

中国经济要闻

The value of the top 50 Chinese real estate developers' land purchases surged 130.2 percent month-on-month in September, showing signs that the housing market is on track to bounce back from the bottom.

In September, 10 cities including Beijing, Shanghai, Shenzhen and Hangzhou released the third batch of land for development, while Guangzhou completed with 47.9 billion yuan in 15 successful auctions today. Central state-owned enterprises remained the major land buyers, cashing out more than half of the top 10 transactions in key cities.

The Chinese government recently announced a set of new measures to promote the sound development of the housing market. By the end of 2022, the authorities in some Chinese cities are able to decide if they will retain, reduce or remove local limits on mortgages on first-home purchases, according to a circular jointly issued by the People's Bank of China, the central bank, and the China Banking and Insurance Regulatory Commission.

As of October 1, the central bank cut the loan interest rate for the housing provident fund for first-home buyers by 0.15 percentage points, suggesting the interest rate for loans with a term of five-plus years is cut to 3.1 percent. From the same day to the end of 2023, the Ministry of Finance will refund the individual income tax for qualified home buyers. 

Experts noted that favourable home-purchasing policies, efforts to start stalled housing projects, as well as accumulated market demand together, spurred the gains.

In a fresh sign of a turnaround, 17.1 percent of respondents opted for home purchases when it comes to planned increases in spending over the next three months, the central bank found in its latest quarterly survey of urban depositors. The results released on Sunday compared with 16.9 percent of surveyed depositors who opted for this during the second quarter.

A wave of housing mortgage rate cuts across the country is expected during the fourth quarter, which will further stimulate home-buyers' expectations and boost home sales, expert said.

第三批集中供地回暖，国庆前稳楼市政策密集释放。

10月9日，根据中指研究院发布的《2022年1-9月全国房地产企业拿地TOP100排行榜》（下称《报告》），今年9月，50家代表房企拿地总额同比下降45.3%，降幅较上月扩大；环比大幅上涨130.2%。

《报告》显示，2022年9月，北京、上海、深圳、杭州、苏州、宁波等十个城市进行了第三批集中供地，热点城市土地供应较8月显著增加，房企拿地投资力度较上月显著回升。截至三季度末，已有12个热点城市三批次集中供地顺利收官。

从重点城市拿地金额TOP10房企来看，央企国企仍是主力。华发股份、华润置地、中海地产等全国性龙头企业仍在多个重点城市广泛布局，央国企参与热度较高，重点城市拿地金额TOP10房企中有半数以上为央企国企。

国庆假期前，央行、银保监会、财政部、国家税务总局等部门接连释放重磅利好，包括放开首套住房贷款利率下限、下调首套房公积金贷款利率0.15个百分点、对居民换购住房给予个人所得税优惠等政策正式发布，各地也在积极落实相关政策，释放市场需求。

据21世纪经济报道记者不完全统计，从国庆节假期第一天至今，包括湖南省、河南省、安徽省、东莞市、南京市、杭州市、无锡市、合肥市、宁波市等多地，纷纷官宣下调首套房公积金贷款利率，5年以下（含5年）和5年以上利率分别调整为2.6%和3.1%。

另一方面，部分城市放开首套住房贷款利率下限意味着，符合条件的城市首套房商贷利率有可能低于4.1%。公积金贷款与商业贷款双管齐下，降低购房者实际购房成本，叠加近期一系列针对换房需求的促进措施，稳楼市政策正在全方位深化。

央行调查显示，未来三个月打算出手购房的居民比例出现回升。10月9日，中国人民银行发布的《2022年第三季度城镇储户问卷调查报告》显示，未来三个月，17.1%的居民打算购房，这一比例高于二季度的16.9%。

今年以来，房贷利率参考的5年期以上LPR已经连续3次下调，累计下降35个基点，当前首套房贷利率下限降至4.1%，二套房贷利率下限为4.9%。根据贝壳研究院监测，9月份已有86个城市主流房贷利率降至下限水平。

随着央行、银保监会9月29日公布，对于2022年6-8月份新建商品住宅销售价格环比、同比均连续下降的城市，在2022年底前，可自主决定阶段性维持、下调或取消当地首套住房商业性个人住房贷款利率下限，部分城市首套房商贷利率可以低于4.1%。

• Shanghai's actual use of foreign direct investment exceeded $300 billion by the end of 2021, an increase of $168 billion from 2012, said the Shanghai Municipal Commission of Commerce on Sunday. In the meantime, filed outbound investment in Shanghai has also surpassed $170 billion over the past 10 years, with more than 5,000 Shanghai-based companies opening branches overseas as of 2021. As of the end of September, the city was home to 877 multinational corporation's regional headquarters, as well as 523 foreign-funded R&D centres.

  上海实际使用外资10年增加1680亿美元：10月9日下午，上海举行新闻发布会，介绍上海国际贸易中心建设情况。会上介绍，截至2021年底，全市实际使用外资累计超过3000亿美元，较2012年增加了1680亿美元；十年间，对外投资备案中方投资额累计超1700亿美元。截至今年9月底，累计认定跨国公司地区总部877家、外资研发中心523家。

Moving on to regional highlights

区域观察

• Shanghai’s consumption totalled 66.3 billion yuan during the week-long National Day holiday, thanks to consumer electronic coupons and subsidies released by the city’s government. Offline consumption in Shanghai between Oct. 1 and Oct. 7 recovered to 80 percent of last year’s level to 40.8 billion yuan, while online consumption jumped 2.9 percent to 25.5 billion yuan in the period.

  国庆期间上海消费超660亿元：据消费市场大数据实验室（上海）监测显示，国庆节日(2022年9月30日至6日)7天上海全市线下消费金额407.7亿元，同比恢复至8成；线上消费金额约254.8亿元，同比增长2.9%。“爱购上海”电子消费券节日期间核销金额超过1.35亿元，杠杆率4倍。 

• The China Import and Export Fair, better known as Canton Fair, will kick off its 132nd session online on Oct 15, with a total of 34,744 domestic export-oriented enterprises participating in the online exhibition, an increase of about 40 percent over the previous session, according to the fair's organisers. 

  广交会15日线上开幕：第132届广交会将于10月15日上午在线上开幕。目前，共有出口展参展企业34744家，比上届增长约40%。进口展参展企业416家，来自34个国家和地区。为助企纾困，本届广交会继续免收企业线上参展费用，也不向参与同步活动的跨境电商平台收取任何费用。

• The Shenzhen-Jiangmen high-speed railway has officially started construction, which is expected to be completed by 2028, China National Railway Group said Sunday. With a total length of 116.3 kilometres and a design speed of 250 km/h, the main rail line will connect five GBA cities, passing through Shenzhen, Dongguan, Nansha in Guangzhou, Zhongshan, before terminating in Jiangmen. 

  深圳至江门高速铁路开工：中国国家铁路集团有限公司10月9日披露，深圳至江门高速铁路正式开工建设，预计2028年完工。据介绍，深江高铁是我国“八纵八横”高铁网沿海通道的重要组成部分，线路起自新建的深圳西丽站，向西经东莞市、广州市、中山市、江门市，接入江门至湛江铁路江门站，正线全长116公里，建设工期5.5年。

Next on industry and company news

产业及公司新闻

• China is set to release the fifth batch of pork into the market from central reserves to maintain supply and price stability, the country's top economic planner said Sunday, as official data showed the average wholesale price of pork went up 2.5 percent after the National Day Holiday. The price of hogs has been running at a relatively high level recently, according to the National Development and Reform Commission (NDRC). 

  年内第五批猪肉将放储：10月9日，国家发展改革委微信公众号发布消息称，近期，生猪价格持续高位运行，已处于历史较高水平。为切实做好生猪市场保供稳价工作，近日国家将投放今年第五批中央猪肉储备。据农业农村部监测，节后第一天的10月8日，全国农产品批发市场猪肉平均价格为32.81元/公斤，比节前上升2.5%。

• The China National Intellectual Property Administration (CNIPA) announced on Sunday that it has granted 3.95 million patents for innovations with an average annual growth rate of 13.8 percent, while the total number of patents reached 4.08 million. More than 30 percent of the patents belonged to strategic emerging industries. 

  截至9月我国发明专利有效量408.1万件：10月9日，国家知识产权局10月例行新闻发布会上透露，截至2022年9月，我国发明专利有效量为408.1万件。2012年至2021年，国家知识产权局累计授权发明专利395.3万件，年均增长13.8%，累计注册商标3556.3万件，年均增长25.5%。战略性新兴产业有效发明专利占国内总量的比重超过三成。

• The Ministry of Industry and Information Technology (MIIT), together with two other administrations, recently summoned key  producers to meetings, in a bid to avoid price gouging, hoarding and speculation, vowing to promote the overall healthy development of the domestic photovoltaic (PV) industry, the MIIT said in a report on Sunday.

  三部门约谈部分光伏企业：9日消息，根据工业和信息化部、市场监管总局、国家能源局（以下简称三部门）在组织开展光伏产业链供应链合作对接的基础上，近期集体约谈了部分多晶硅骨干企业及行业机构。相关部门表示，近期国内光伏产业部分环节产品价格持续急剧上涨，引发产业链供应链剧烈震荡，其中既有国际贸易环境复杂、新冠疫情反复冲击、下游需求大幅增长、各环节建设周期差异等原因，也有部分企业炒作哄抬价格、个别从业者囤积居奇等因素。 

• The seven-day National Day holiday saw 422 million trips made to domestic destinations, a decrease of 18.2 percent year-on-year. The number was roughly 61 percent of that of 2019, according to figures from the Ministry of Culture and Tourism released on Friday evening. The domestic tourism market saw revenue of over 287.2 billion yuan over the holidays, a year-on-year decrease of 26.2 percent. The ministry said the revenue was about 44 percent of that of 2019. 

  “十一”黄金周旅游收入2872亿：据文化和旅游部数据显示，2022年国庆节假期7天，全国国内旅游出游4.22亿人次，同比减少18.2%，按可比口径恢复至2019年同期的60.7%。实现国内旅游收入2872.1亿元，同比减少26.2%，恢复至2019年同期的44.2%。

• Oil and gas production has exceeded 10 million tons in the Fuman Oilfield area, a main crude oil block located in the Tarim Oilfield in Northwest China's Xinjiang Region, the country's state-owned energy giant China National Petroleum Corp (CNPC) said on Sunday. Total oil and gas resources from the field stand at more than 1 billion tons in what is the deepest and largest ultra-deep crude oil production area in China.

  富满油田产量突破1000万吨：10月9日，中国石油塔里木油田公司富满油田累计生产油气突破1000万吨大关，其中原油867万吨、天然气16亿立方米，相当于塔里木油田全年油气产量当量的三分之一，标志着我国超深层油气迈入规模开发新阶段。富满油田位于塔克拉玛干沙漠腹地，是我国发现的最大超深海相断控缝洞型碳酸盐岩油藏，油气资源量10亿吨。

• Shares in Chinese cheese maker Milkground Food Technology surged by as much as 7.8 percent today after Inner Mongolia Mengniu Dairy said it plans to pay 800 million yuan to hike its holdings to 35 percent from 30 percent, as cheese becomes the Chinese dairy giant’s focus for growth, Mengniu said yesterday. It will pay 30.92 yuan per share for the acquisition.

  蒙牛斥资8亿增持妙可蓝多：10月9日傍晚，妙可蓝多发布公告确认，公司于2022年10月9日收到控股股东内蒙古蒙牛乳业（集团）股份有限公司发来的《上海妙可蓝多食品科技股份有限公司要约收购报告书摘要》，拟要约收购公司5%股份。据悉，蒙牛将以30.92元/股的价格，收购妙可蓝多25809008股股份，本次要约收购所需最高资金总额为7.98亿元。

Wrapping up with a quick look at the stock market

股市收盘情况

• Chinese stocks fell on their return from the Golden Week holiday, hurt by a global equities selloff and bleak holiday-spending data that deepened concerns about an economic recovery. The benchmark Shanghai Composite ended down 1.66 percent and the Shenzhen Component dropped 2.38 percent. In Hong Kong, the Hang Seng closed 2.95 percent lower, as the TECH index went down 3.98 percent.

  周一A股上证指数跌破3000点：截至收盘，沪指跌1.66%，失守3000点位，深成指跌2.38%，创业板指跌2.3%，失守2300点位。养殖业、油气开采、动物疫苗等板块涨幅居前，芯片半导体、饮料制造、酒店旅游等板块跌幅居前。港股方面，恒生指数收跌2.95%，恒生科技指数收跌3.98%。

Biz Word of the Day

财经词汇划重点

• “Ultra-deep” wells are those drilled to tap into reservoirs at 22,000 feet or deeper and includes provisions outlining rules for how drilling units can be established at that depth and determining the size of those units.

  超深层油气勘探，国际上通常将埋深超过4500米定为深层。我国东、西部地质有差异，大于4500米为超深层；西部盆地大于6000米为超深层。

Executive Editor: Sonia YU

Editor: LI Yanxia

Host: Stephanie LI

Writer: Stephanie LI 

Sound Editor: Stephanie LI

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

音频制作：李莹亮

设计：郑文静、廖苑妮

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