CBN丨China gears up for record-breaking Golden Week boom

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 tourism market speeds up recovery with historic travel demands during the upcoming holidays;

• Lan Fo’an was appointed as China’s new finance ministry party chief.

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

中国经济要闻

An estimated around 800 million travel trips will be made during the eight-day Mid-Autumn Festival and National Day holidays which will kick off on Friday. 

With record demand for travel and the sustained economic impact of the Asian Games, this year's Golden Week holidays are poised to become the most vibrant and prosperous in recent memory. 

Latest data on holiday travel, accommodation, and tourism products all pointed to a stark rebound from the levels seen in 2019, indicating a remarkable resurgence in consumption activity.

Wednesday marks the first day of the Golden Week holidays travel rush. China Railway Group forecast that 190 million railway trips will be made during the holidays, up from the 138 million trips seen in 2019. 

According to the China Tourism Academy, over 100 million travel trips will be made per day during the Golden Week holidays, far surpassing the levels of last year and 2019. 

Notably, traveling to Hangzhou, East China's Zhejiang Province has become a spotlight and a unique spark for holidays spending as the eight-day holidays coincide with the main competition days of the Hangzhou Asian Games which last from September 23 to October 8.

In terms of commercial aviation, more than 21 million travelers will take flights in the span of eight days and an average of 14,000 domestic flights will be operated per day, up 18 percent from the same period in 2019. Domestic routes are expected to see more than 100,000 passenger flights, and overseas routes are expected to have more than 11,000 passenger flights.

Hotel bookings for popular destinations have also surged. Data from Qunar showed that domestic hotel bookings for the holidays have increased by 514 percent compared to 2019. 

Outbound tourism is expected to see a 20-fold year-on-year increase, according to online traveling platform Trip.com. Travel agency U-tour predicted the number of outbound travelers would exceed this year's May Day holidays by five folds. 

According to the National Immigration Administration, the average daily number of inbound and outbound passenger trips during the holidays are expected to reach 1.58 million, three times higher than the same period last year.

今年中秋、国庆假期或成“史上最火黄金周”，出行需求持续释放。

由于今年中秋国庆假期“合体”，喜迎八天长假，进一步激发了社会出行、出游的热情。随着“双节”临近，人们的出游计划已提上日程。

在探亲游、出境游、亚运游等多重需求交织下，今年的假期有望迎来出行高峰。百度地图预测，今年十一出行热度预计将为近年最高，人口迁徙总量或超去年200%。相较于2022年，今年十一人口迁徙趋势呈现出总量大、持续时间长的特点。 

铁路中秋、国庆假日运输自9月27日开始至10月8日结束，长达12天，全国铁路预计发送旅客1.9亿人次，远超去年同期的7215.7万人次。中国旅游研究院预测数据显示，黄金周每天的出游人次都将超过1亿人，远远超过去年及2019年同期水平。

而亚运会叠加黄金周效应下，近期前往杭州感受亚运氛围的游客逐渐增多，从去哪儿平台搜索量看，杭州近一周搜索量增长迅速，居于前十。去哪儿平台上亚运会期间杭州地区酒店提前预订量同比2019年增4.4倍。亚运会期间杭州地区景区门票销量同比2019年增两成。

民航方面，民航局预测假期期间将有2100万余名旅客乘机出行，预计共保障航班13.7万班。其中，日均保障国内客运航班约14000班，运输国内旅客196万人次，分别比2019年国庆假期增长18%和17%。

去哪儿数据显示，国内热门酒店预订量同比2019年增长514%。携程平台数据显示国内游订单同比增幅4倍，出境游订单增幅则高达20倍。

据国家移民管理局9月27日公布的最新预测，随着杭州亚运会召开、国际航线航班持续恢复、境外国家地区入境免签等政策叠加，全国口岸将迎来出入境客流高峰，今年中秋国庆假期日均出入境旅客将达到158万人次，较去年同期增长约3倍，是2019年同期的90%。

• China has appointed Lan Fo’an as the Communist Party chief at the Ministry of Finance, a move that will pave the way for him to become finance minister. Lan will replace Liu Kun in the role, the finance ministry said in a statement on Thursday. The 61-year-old Lan was previously the party chief of the northern Chinese Shanxi province.

  财政部掌舵人交接棒：据财政部网站消息，9月28日下午，中央组织部有关负责同志出席财政部领导干部会议，宣布中央决定：蓝佛安同志任财政部党组书记，免去刘昆同志的财政部党组书记职务。新华社9月28日上午消息，日前，中共中央决定：蓝佛安同志不再担任山西省委书记、常委、委员职务，另有任用。

Moving on to regional highlights

区域观察

• Regions across China have launched activities to promote consumption during this year's Golden Week. Shanghai is holding a tourism festival between Sept. 16 and Oct. 6, with 70 cultural and tourism organizations offering half-price tickets and nearly 50,000 consumer coupons in the city’s central Jing’an district. Sichuan province will issue a second round of consumer coupons during the upcoming holidays to help residents save money in key fields, such as retail catering, household appliances, sports and health, traveling, and refueling. Heilongjiang province plans to issue more than 50 million yuan of consumer coupons, mainly for purchasing automobiles, home appliances, general merchandise, clothes, and catering services.

  多地开展“双节”系列促消费活动：为喜迎中秋、国庆“双节”到来，进一步释放消费潜力，营造消费氛围，2023年上海旅游节9月16日至10月6日举办。上海市70家文旅机构推出门票半价优惠活动。9月起，静安区面向上海市民、游客发放近5万张文旅消费券。四川将在中秋、国庆前夕继续发放第二轮第二届中国（四川）国际熊猫消费节“蜀里安逸”消费券，本轮消费券将聚焦零售餐饮、家电家居、体育健康、出行加油等重点领域。9月至10月，黑龙江省开展“约惠龙江 秋荟优品”系列促消费活动。活动聚焦汽车、家电、食品、百货、服装、成品油、手机通讯、餐饮等领域，将发放消费券5000余万元。

• Airbus on Thursday broke ground on its second final assembly line in north China's Tianjin Municipality as the European aircraft manufacturer seeks expansion on the Chinese market. The expansion project is planned to enter into service at the end of 2025, Airbus said in a statement.

  空客天津A320系列第二条总装线动工：9月28日，空客天津A320系列飞机第二条总装线项目开工，项目计划于2025年底正式投入运营。空客天津总装线拓展项目体现了空中客车对中国航空业的长期承诺。通过空客的全球生产体系，更好地服务中国市场。

• Shanghai-based China Eastern Airlines will start to operate direct flights between Shanghai and Istanbul of Turkiye on Thursday, which is the first of its kind between the two cities by a Chinese airliner. The first flight will take off at 1:30 am on Thursday from the Shanghai Pudong International Airport, and arrive at Istanbul Airport after 12 hours flying. The Shanghai-Istanbul flight will be operated every Tuesday, Thursday and Saturday (local time).

  上海直飞伊斯坦布尔航线开航：9月27日，中国东方航空公司举办上海——伊斯坦布尔开航发布会。9月28日01:30，东航MU703航班将搭乘230余名首航旅客，从上海浦东国际机场起飞，飞往世界上唯一地跨欧亚两大洲的城市——土耳其的伊斯坦布尔，航班全程约12小时。该趟航班每周执行3班，分别为周二、周四、周六。

Greater Bay Area, Greater future

新使命，大未来

• The Global Innovation Index (GII) 2023 published Wednesday by the World Intellectual Property Organization ranked the Shenzhen-Hong Kong-Guangzhou science and technology cluster second globally for the fourth consecutive year. Hong Kong's ranking remains fifth in Asia, and is 17th globally among 132 economies. As regards the two sub-indices under the GII, Hong Kong continued to perform well in the "Innovation Input" sub-index, at eighth globally. Its ranking in the "Innovation Output" sub-index improved to 24th.

  广深港创新指数连续居全球第二：9月27日，世界知识产权组织（WIPO）在瑞士公布了《2023年全球创新指数》（GII）。全球五大顶级科技集群全部位于东亚，且深圳-香港-广州科技集群连续第四年位居全球第二。香港在亚洲排名第五，在全球132个经济体中排名第17位。香港在“创新投入”子指数中继续表现良好，排名全球第八。在“创新产出”子指数中的排名上升到第24位。

• Hong Kong Exchanges and Clearing (HKEX) will launch a long-awaited new digitalized initial public offering platform on November 22 in its latest push to reboot the city’s new listings market. The Fast Interface for New Issuance, or FINI, will speed up the IPO process by cutting the time between listing pricing and the start of trade from the current five business days to two, according to an exchange announcement on Wednesday. Unlike the existing IPO system, which involves different parties using many manual processes and paperwork to exchange information, FINI will operate as a cloud-based platform enabling different listing stakeholders – such as sponsors, underwriters, legal advisers, banks, clearing participants, share registrars and regulators – to collaborate and perform their respective roles digitally in real time.

  港股改革IPO结算进入“T+2”时代：9月27日，港交所宣布，全新的首次公开招股结算平台FINI将于11月22日正式启用，这标志着香港资本市场发展迎来又一里程碑事件。新股定价与股份开始交易之间的时间由5个营业日（T+5）大幅缩短至2个营业日（T+2），投资者可以提高资金利用效率，并将减少融资申购新股过程中的利息支出。据悉，“FINI”代表新发行快速接口，在基于云的平台上运行，将使保荐人、承销商、法律顾问、银行、清算参与者、股票登记机构和监管机构等不同的IPO利益相关者能够实时协作，并在数字化发行中发挥各自的作用。 

Next on industry and company news

产业及公司新闻

• Saudi oil giant Saudi Aramco intends to invest in a subsidiary of Chinese petrochemical and chemical fiber products supplier Eastern Shenghong. Saudi Aramco will purchase a 10 percent stake in Jiangsu Shenghong Petrochemical Industry Group to cooperate on crude oil procurement, sales of chemical and fuel products, and licensing of high value-added technologies, Saudi Aramco and Eastern Shenghong announced yesterday, without revealing the investment amount.

  沙特阿美落下A股炼化第二子：9月27日晚间，沙特阿美宣布其子公司阿美亚洲与江苏盛虹石化产业集团有限公司签署了框架协议，拟收购该公司10%的股份。根据东方盛虹的公告，沙特阿美或其关联方有意向成为盛虹石化的战略投资者；双方有意向在原油等原料长期的采购和供应、化工产品和燃料产品销售、高附加值技术许可等方面进行合作。目前，该框架协议还不涉及具体金额。 

• Guangdong No. 2 Hydropower Engineering, a Chinese renewable energy developer, said it plans to spend 14 billion yuan on a new solar power farm to expand the size of its clean energy business. The photovoltaic power station, destined for the city of Pu'er in Yunnan province, will have an annual capacity of 3.5 gigawatts of electricity, the company said in a statement late yesterday. The solar farm will be built along with an energy storage battery and equipment production project that will cost 7.2 billion yuan, the firm added.

  广东水电二局140亿元投资光伏项目：9月27日，粤水电发布了《关于签订云南普洱市新能源新材料投资合作协议的公告》，表示广东水电二局股份有限公司与深圳天锂储能技术有限公司签署了云南普洱市新能源新材料投资合作协议。根据协议，公司计划在普洱市投资建设3.5GW集中式光伏发电项目，总投资预计140亿元。天锂储能将负责产业项目的投资、运营和管理，总投资预计72亿元。

• Tongwei’s shares climbed after the leading Chinese silicon producer scrapped a 16 billion yuan private placement of shares, citing the changed capital market environment and the firm’s underestimated value. Tongwei announced in April that it would issue up to about 900 million new shares to 35 specific investors for two crystalline silicon projects in China.

  通威股份终止160亿定增计划：在再融资阶段性“收紧”背景下，通威股份主动终止了160亿元的定增计划。9月26日盘后，通威股份认为当前资本市场环境发生变化，公司价值存在明显低估，因此终止了百亿定增计划。该项定增计划是通威股份在4月25日时首次进行公告，公司拟通过发行股票募集资金160亿元，其中94亿元投向“20万吨高纯晶硅项目”，66亿元用于云南通威水电硅材高纯晶硅绿色能源项目。

• Shares of Ningbo Shanshan rose after the world's largest supplier of electric car battery materials revealed a plan to spend as much as EUR1.28 billion on a lithium battery anode material project in Finland to expand its overseas business. Shanshan's unit Shanghai Shanshan Lithium Battery Material Technology will invest in and build the project in two phases, the parent firm announced yesterday. Each will have an annual production capacity of 50,000 tons and a construction period of 24 months, it added.

  杉杉股份12.8亿欧元投资芬兰项目：9月27日，宁波杉杉股份有限公司公告，同意下属子公司上海杉杉锂电材料科技有限公司在芬兰设立项目公司，投资不超过12.8亿欧元建设芬兰年产10万吨锂离子电池负极材料一体化基地项目。项目分两期建设，两期项目产能规划各5万吨/年，建设周期预计各24个月。 

• A shipbuilding subsidiary of China CSSC Holdings said it has received an about USD1 billion order from a well-known European container shipping service provider, the largest order for such ships ever made globally. Waigaoqiao Shipbuilding and a European client inked a deal for eight middle-sized container ships fueled by methanol, the firm announced yesterday. Each vessel will be capable of carrying 9,200 twenty-foot equivalent units, it added.  

  外高桥造船获10亿美元大单：9月27日，中国船舶集团有限公司旗下上海外高桥造船有限公司携手中国船舶工业贸易有限公司与欧洲知名班轮公司在上海正式签订了8艘9200TEU（每艘船将能够装载9200个20英尺的单位）甲醇双燃料中型集装箱船建造合同，合同总金额约10亿美元。外高桥造船公司指出，这是全球有史以来规模最大的此类船舶订单，再一次印证了外高桥造船强劲的市场和品牌影响力。

Switching gears to financial news

金融市场消息

• Chen Huaping was named a vice chairman of the China Securities Regulatory Commission (CSRC), the commission said Wednesday. Chen, 55, is transferred from a position as chairman of the board of the Shenzhen Stock Exchange to fill a vacancy created by the December retirement of Zhao Zhengping.

  陈华平履新证监会副主席：9月27日，证监会官网公告称，近日，国务院决定，任命陈华平为中国证券监督管理委员会副主席，同意其不再担任深圳证券交易所理事会理事长职务。中央组织部通知，陈华平同志任证监会党委委员，免去其深交所党委书记职务。至此，陈华平的上任补齐”一正四副一监管”的证监会领导班子格局。

• The Chinese yuan retained its position as the fifth most-used currency for global payments in August, with a share of 3.47 percent by value, a historic high, according to the Society for Worldwide Interbank Financial Telecommunications (SWIFT) on Thursday.

  8月人民币全球支付占比创新高：28日，环球银行金融电信协会（Swift）最新发布的人民币月度报告和数据统计显示，2023年8月，在基于金额统计的全球支付货币排名中，人民币保持全球第五大最活跃货币的位置，占比3.47%。这一比例创出纪录新高。

A quick look at the stock market

股市收盘情况

• Chinese stocks edged up on Thursday with the benchmark Shanghai Composite and the Shenzhen Component each adding 0.1 percent. Hong Kong’s Hang Seng index shed 1.4 percent, and the TECH index fell 1.5 percent.

  A股微涨港股收跌：周四A股窄幅震荡，三大指数涨跌不一。截至收盘，沪指涨0.1%，深成指涨0.05%，创业板指跌0.12%。沪深两市全天成交额7172亿元，较上个交易日放量7亿。北向资金全天净卖出49.95亿元。港股恒生指数收跌1.36%，恒生科技指数收跌1.45%。

Highlights of Hangzhou Asian Games 

杭州亚运会速报

• China remained on top of the medal table at the 19th Asian Games in Hangzhou with 83 golds, 46 silvers and 24 bronzes as of 5 p.m. Thursday. Earlier today, Chinese Wushu team finished strong in its journey in the 19th Asiad with 11 golds in total, as He Feng, Wang Xuetao and Jiang Haidong winning men's 70kg, 60 kg and 56 kg finals, respectively, while Wu Xiaowei and Li Yueyao added two golds in women’s 60kg and 52kg finals. In taekwondo, China’s Zhou Zeqi claimed the title in women's +67kg final and Song Zhaoxiang in men’s +80kg final. 

  亚运会中国队83金暂列榜首：截至9月28日17时，中国体育代表团在杭州亚运会赛场以83金46银24铜的成绩排名暂列杭州亚运会奖牌榜第一。截至17时，当天的单人项目中，宋兆祥在跆拳道男子80公斤以上级项目夺金，周泽琪则在跆拳道女子67公斤以上级项目摘金。武术项目今天再添五金完美收官，中国选手何烽、王雪涛、江海东分别在武术散打男子70公斤级、60公斤级、56公斤级决赛中夺冠，吴晓微、李玥瑶分别在在武术散打女子60公斤级、52公斤级决赛摘金，至此中国武术队在所报的11个项目中全部夺金。

Biz Word of the Day

财经词汇划重点

• When a company chooses to go public it also engages the support of a sponsor or sponsors. Sponsors help guide the company through the initial public offering (IPO) process and also provide credibility for new investors considering the IPO investment. A sponsor can provide a wide range of services and support within the financial industry.  

  保荐人是二级市场的一种特有的证券公司，为二级市场的上市公司的上市申请承担推荐职责，为上市公司的信息披露行为向投资者承担担保职责。除此以外，为了配合好推荐和担保工作，保荐人的职责还包括辅导、监督以及调查、报告、咨询和保密等。

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，实习生黄青衣、丁越

音频制作：李莹亮

设计：郑文静、廖苑妮

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