CBN丨China’s economy to sail toward a bright future: Premier Li

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 

• Li Qiang made his first appearance as Chinese newly-elected Premier at the two sessions press conference;

• Multiple listed Chinese firms made emergency response to their exposures linked to SVB bankruptcy.

China’s Two Sessions 2023 

聚焦2023年全国两会

Chinese Premier Li Qiang met the press on Monday after the closing of the first session of the 14th National People's Congress, China's top legislature.

The newly-promoted Premier outlined the new government's goals and priorities, saying the task for the next five years is to implement the important decisions and plans made at the 20th National Congress of the Communist Party of China (CPC).

Voicing full confidence in the prospects of China's economy, Li stressed the importance of the people-centered development philosophy and pledged to focus efforts on promoting high-quality development.

The ultimate aim is to improve the well-being of the people, he said, clarifying that the government must act according to how people feel, as most people don't keep an eye on statistics related to gross domestic product (GDP), but are concerned about things like housing, employment, income and education.

Li also said China will prioritize opening up in the future, saying it's essential for advancing Chinese modernization and achieving the Second Centenary Goal. He stressed that most foreign companies are still optimistic about their development prospects in China.

Responding to a question regarding China's 2023 GDP growth target of around 5 percent, Li said the country needs to double down on efforts while admitting it was "not an easy task.”

Li said the economic performance over the first two months of 2023 shows the Chinese economy is stabilizing and picking up again and noted that international organizations have already revised upwards projections for the Chinese economy this year. 

"The Chinese economy will break winds and waves and sail toward a bright future. I have full confidence in that," he added. 

Speaking about the private sector, the Premier said China’s commitment to the development of the private sector is unequivocal and steadfast. "This is a long-term policy that has not changed in the past and will not change in the future,” he said.

Private enterprises in China will enjoy a better environment and broader space for development, and the government will step up efforts to foster a business environment that is market-oriented, law-based and internationalized, treat companies of all types of ownership as equals, and protect the property rights of enterprises and the rights and interests of entrepreneurs in accordance with law, Li said. 

Li also encouraged the private sector to continue promoting the entrepreneurial spirit, as China has a lot of new sectors and new racing tracks that offer vast opportunities.

In terms of Hong Kong and Macau, the Premier attached great importance to the “advantages and characteristics” of Hong Kong and Macau, and believed the difficulties encountered by the two cities in recent years were only “temporary”. Li said Hong Kong, an economic, financial, trading and shipping centre, and Macau, a world-renowned leisure and tourism centre, will be “strengthened and consolidated” with the backing of the central government.

3月13日，十四届全国人大一次会议闭幕后，国务院总理李强在人民大会堂三楼金色大厅出席记者会并回答中外记者提问，记者会上，国务院总理李强就新一届政府工作重点、延迟退休、民营经济等热点问题做出回应。

关于新一届政府的施政目标，李强表示，新一届政府的工作，就是要把党中央的决策部署贯彻好、落实好，把党的二十大擘画的宏伟蓝图变成施工图，与全国人民一道，一步一个脚印把宏伟蓝图变成美好现实。

说到底，党和政府一切工作的宗旨就是为民造福。客观地讲，绝大部分老百姓不会天天盯着看GDP增长了多少，大家更在乎的是住房、就业、收入、教育、就医、生态环境等身边具体事。政府工作就是要贴近老百姓的实际感受去谋划、推进，真正做到民有所盼、政有所为。

同时，李强表示，要坚定不移深化改革开放。“我们常说，改革开放是决定当代中国命运的关键一招。在下一步推进中国式现代化、在实现第二个百年奋斗目标的历史过程中，我认为，我们还必须吃改革饭，走开放路。”李强说，要坚持社会主义市场经济的改革取向，要坚持高水平对外开放，要通过深化改革开放来不断的增强我们国家发展的动力和活力。

关于全年经济增长目标，李强表示，今年，中国经济预期增长目标定为5%左右，这是我们综合考虑各方面因素后确定的。中国的经济总量已经突破120万亿元，基数很高，加上今年的新挑战不少，要实现5%左右的增长，并不轻松，需要倍加努力。具体工作中，要打好这么几套组合拳：一是宏观政策的组合拳，二是扩大需求的组合拳，三是改革创新的组合拳，四是防范化解风险的组合拳。

谈到民营经济，李强强调，在发展民营经济这个问题上，党中央的方针政策一直是非常明确的。党的十九大、二十大和去年的中央经济工作会议，都作了强调。对此，我们是旗帜鲜明、坚定不移的。民营经济的发展环境会越来越好，发展空间会越来越大。经济发展有其客观规律，也依赖客观条件，但更需要很强的主观能动性。希望民营企业家大力弘扬优秀企业家精神，坚定信心再出发。

对于港澳未来发展前景，李强表示，中央政府始终高度重视发挥香港、澳门的优势和特点。回归以来，在国家的支持下，香港国际金融、航运、贸易三大中心地位得到了巩固和提高，澳门作为旅游休闲中心享誉世界。有祖国作坚强后盾、有“一国两制”的制度保障，香港、澳门的地位和作用只会加强，不会削弱。香港、澳门的明天一定会更加美好。

• China is confident of achieving its annual economic growth target of around 5 percent in 2023, said Kang Yi, head of the National Bureau of Statistics said on Sunday on the sideline of the two sessions, adding that the country will likely achieve its potential growth rate this year with the normalization of production and life. "(The latest PMI readings) point to strengthened confidence and improved expectations," Kang said. The fundamentals of China's long-term economic development remain unchanged, and it is endowed with an extremely large market, an abundant workforce and favorable conditions for development. Kang noted that the economy still faces mounting uncertainties, a complicated environment as well as deep-rooted structural issues, and companies are also confronted with difficulties. Greater effort will be made to apply the new development philosophy across the board, move faster to create a new pattern of development and pursue high-quality development.

  国家统计局表示有信心实现5%增长目标：在12日举行的十四届全国人大一次会议第三场“部长通道”上，国家统计局局长康义表示，我国完全有信心能够实现今年宏观经济运行整体好转，完全有信心实现5%左右的增长目标。信心来自两个方面：一是对中国经济基本面的判断。二是对今年两个多月以来经济运行相关情况的观察。从中长期来看，中国仍然是一个发展中国家，人均各项指标和世界发达国家相比还有很大差距，还有很大的发展空间，有巨大规模的市场，有充足的劳动力供应，有很好的生产要素条件，所以长期向好的趋势和发展空间巨大客观存在，在我国仍然非常明显。国际国内很多专家学者、研究机构都在研究中国经济的潜在增长率，对中国经济潜在增长基本上都落在5%-6%之间。随着经济社会、生产生活秩序逐步恢复正常，中国经济的增长有望向潜在增长率回归，这是长期判断。康义指出，目前国内经济运行当中本身还存在一些深层次的、结构性的矛盾和问题，市场主体、企业还存在一些困难，特别是订单等等方面，人民群众的就业、收入的增长也还面临不少困难，经济运行当中也还存在一些风险隐患，所以接下来要按照中央经济工作会议和《政府工作报告》部署，完整、准确、全面贯彻新发展理念，加快构建新发展格局，着力推动高质量发展。经过全国上下的共同努力，今年的经济预期目标是非常有信心能够实现的，能够推动中国经济运行整体好转。

Next on industry and company news

产业及公司新闻

• China Mobile said it will boost its dividend payout for 2022 from a year earlier, expecting the ratio to increase further to reach more than 70 percent for the year, according to a filing yesterday. In the same filing, China Mobile said its parent China Mobile Communications Group has increased its stake in the company by buying 1.59 billion yuan worth of A shares in 2022, and would continue to increase the share holdings. Meanwhile, the company said its mobile customers reached 976 million in January, including 622 million 5G package customers and 275 million wireline broadband customers. Stocks of China Mobile hit the daily limit-up today with its market valuation reaching 2.1 trillion yuan.

  中移动今年派息率升至70%以上：今日（13日）中国移动涨停，市值超2万亿元。3月12日晚，中国移动有限公司发布关于2022年及近期经营情况的公告，并披露了公司实际控制人前期增持计划执行情况。从中国移动的经营情况来看，2022年，该公司移动客户达9.75亿户，净增1811万户，净增规模创三年新高，其中5G套餐客户达到6.14亿户，有线宽带客户达到2.72亿户，净增3206万户，持续保持行业领先。中国移动还公布，公司将于2023年3月23日公布2022年全年业绩。为更好地回馈股东、共享发展成果，预计2022年全年派息率将比上年进一步提升，2023年以现金方式分配的利润提升至当年公司股东应占利润的70%以上。 

• China National Nuclear Power Co (CNNC) recently unveiled its 80 billion yuan investment plan for 2023, which is a near 60 percent of year-on-year increase and marks the highest annual investment. According to the announcement, the investment will cover various sectors of nuclear power, multipurpose nuclear energy, new energy and other investments in fixed assets and program acquisition. In 2022, CNNC's annual investment reached 50.63 billion yuan. A total of 199.29 billion kilowatt-hours electricity was generated, 16.65 billion kilowatt-hours more than 2021 levels, and a 9.12 percent year-on-year increase, according to a company announcement, which set its annual electricity generation goal in 2023 at 205 billion kilowatt-hours. 

  中核电公布800亿投资计划：近日，中国核能电力股份有限公司发布公告称，2023年，公司投资计划总额约为800亿元，主要用于核电、核能多用途、新能源、单项固定资产投资项目和参控股资本金注入、收购项目等，为历史最高。数据显示，2022年，中国核电累计发电量1992.87亿千瓦时，同比增长9.12%。其中，公司全年新能源发电量累计为140.48亿千瓦时，较上年同期增长47.66%。新的一年计划中，中国核电预计全年发电量目标为2050亿千瓦时，其中核电计划发电量为1835亿千瓦时，新能源计划发电量为215亿千瓦时。

• Shares of Huayi Brothers Media rallied after the Chinese entertainment firm said it is preparing to launch into e-commerce live-streaming, following in the successful footsteps of Hong Kong broadcaster Television Broadcasts. Holding unit Huayi Brothers Fashion Group kicked off preparations to open a live broadcast studio on Douyin at the end of last year, Huayi Brothers revealed Friday.

  华谊兄弟进军直播带货：近日，华谊兄弟在投资者互动平台回复提问“是否会考虑直播带货”时称，公司控股子公司华谊兄弟时尚（上海）文化传媒有限公司自2022年末开始筹备自有官方抖音直播间“抹布友好物”。据介绍，“抹布友好物”以分享时尚、文娱行业从业人员日常生活好物为特色，同时具备为品牌提供明星、超模选拔、自媒体平台推广等线上全案型直播业务。受消息提振，上周五华谊兄弟大涨12.3%，今天微跌0.7%。

Switching gears to financial news

金融市场消息

• Two dozens of Chinese listed companies have so far released statements to reassure investors the collapse of US lender Silicon Valley Bank has only a minor impact on their operation. A-share listed Andon Health said that the company’s deposits with SVB account for approximately 5 percent of its total cash and financial assets as of Friday, while the rest of its dollar assets held in multiple institutions were unaffected by the collapse. Brii Biosciences’ SVB deposits are less than 9 percent of the total cash and bank balance of the company and its subsidiaries as of Feb. 28, the drugmaker announced, adding that its cash is sufficient to fund its working capital for the next three years. Meanwhile, the Hong Kong Monetary Authority (HKMA) said on Monday that SVB is not authorized to carry out banking operations or take deposits in Hong Kong. The HKMA has noticed the actions of overseas regulators against banks and will continue to pay attention to the development of the incident, a spokesperson said.

  多家上市公司紧急回应SVB存款：3月12日至3月13日，对于美国风投型银行硅谷银行(Silicon Valley Bank)倒闭一事，至少有23家上市公司公开披露了公司在硅谷银行存款情况。超20家上市公司集体回应，包括九安医疗、云顶新耀、百济神州、诺亚控股、再鼎医药、腾盛博药、堃博医疗、基石药业等也陆续发公告回应在SVB的现金存款情况，普遍不到5%。诺亚控股、汇量科技、阜博集团、美图公司等科技公司也披露了相应情况。另外，香港金管局发言人周一表示，硅谷银行在香港没有经营银行业务，只设有本地代表办事处。由于并非认可机构，因此不能在香港经营银行或接受存款业务。金管局发言人指，注意到海外监管机构对硅谷银行的行动，会继续关注事件发展。

• China’s credit grew strongly in February with newly added social financing, funds that individuals and non-financial firms receive from the financial system, reaching 3.2 trillion yuan last month, the People’s Bank of China (PBOC) said Friday, beating estimates. New yuan-denominated loans totaled 1.81 trillion yuan in February, increased by 592.8 billion yuan compared to the same period last year. The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 12.9 percent year on year to almost 276 trillion yuan at the end of last month. The growth rate was 0.3 percentage points higher than the figure seen at the end of January, and was 3.7 percentage points higher than that of the same period last year, central bank data showed. 

  2月社融好于预期：3月10日，央行发布2023年2月金融数据。数据显示，2月新增人民币贷款1.81万亿元，同比多增5928亿元；新增社会融资规模3.16万亿元，同比增速9.9%，较前值上升0.5个百分点；M2余额275.52万亿元，同比增长12.9%，增速分别比上月末和上年同期高0.3个和3.7个百分点。业界普遍认为，2月金融数据从总量和结构上都出现了进一步改善，一定程度上超出市场平均预期。

Wrapping up with a quick look at the stock market

股市收盘情况

• Chinese stocks finished with gains on Monday, with the benchmark Shanghai Composite up 1.2 percent, while the Shenzhen Component added 0.6 percent. Hong Kong’s Hang Seng index also ended up 2 percent and the TECH index rallied 2.9 percent.

  A股港股收涨：周一A股主要股指收涨，沪指收涨1.2%，深成指收涨0.55%，创业板指则收跌0.56%。两市成交额约8394亿元，北向资金净买入超27亿元。港股恒指收涨1.95%，恒生科技指数涨2.89%。

Biz Word of the Day

财经词汇划重点

• A dividend is the distribution of a company's earnings to its shareholders and is determined by the company's board of directors. The dividend yield is the dividend per share and is expressed as dividend/price as a percentage of a company's share price.

  派息是指公司通过分发现金的方式，依据股东持股比例的大小进行合理分配的行为。所谓派息率，就是当年派息总数除以同年总盈利的比例。

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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