CBN丨China establishes bureau for private economy development
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 has set up a bureau under the country's top economic planner specializing in promoting the private economy;
Chinese NEV makers report bumper August sales.
Here’s what you need to know about China in the past 24 hours
中国经济要闻
The National Development and Reform Commission (NDRC), China's top economic planner, on Monday announced to establish a private economy development bureau dedicated to overseeing the rollout of major supportive measures in order to bolster private sector growth.
The bureau was established to strengthen policy coordination in relevant areas, and ensure that related measures are implemented as early as possible and achieve tangible results, Cong Liang, deputy head of the NDRC, told a press conference Monday.
Main responsibilities of the bureau include tracking, studying and analyzing the development of the private economy, coordinating and organizing the formulation of policies and measures to promote its development, and formulating policies to promote the growth of private investment, according to the commission.
The bureau will also be responsible for establishing a mechanism for regular communication with private enterprises, coordinating efforts to solve major problems concerning the development of the private economy, and working toward enhancing its international competitiveness.
The NDRC will also actively promote the construction of a key private investment project platform with the backing of a series of measures augmenting the budget and investment work, while optimizing the financing of private-funded projects, Cong said. Cong noted that the NDRC has proposed the first batch of 715 private investment projects to banks.
9月4日上午，国家发展改革委副主任丛亮在国务院新闻发布会上表示，近日，中央编办正式批复在国家发展改革委内部设立民营经济发展局，作为促进民营经济发展壮大的专门工作机构，加强相关领域政策统筹协调，推动各项重大举措早落地、见实效。
国家发展改革委副秘书长兼人事司司长张世昕在国新办新闻发布会上介绍，民营经济发展局的主要职责是：跟踪了解和分析研判民营经济发展状况，统筹协调、组织拟订促进民营经济发展的政策措施，拟订促进民间投资发展政策。建立与民营企业的常态化沟通交流机制，协调解决民营经济发展重大问题，协调支持民营经济提升国际竞争力。
张世昕表示，民营经济工作涉及面宽、政策性强，需要各个部门密切协作配合，形成工作合力。国家发展改革委作为宏观调控和经济综合部门，在发改委设立民营经济发展局，主要是立足于更好发挥统筹协调、综合施策、促进发展的功能。
“相关部门从各自职能角度也会有服务和促进民营经济发展的职责，在现有工作格局的基础上，在国家发展改革委设立民营经济发展局，将进一步加强对民营经济发展工作的统筹协调，巩固拓展现有工作成果，为民营经济发展营造更优环境，为民营经济发展提供更加有力支持，促进民营经济在中国式现代化的伟大进程中肩负起更大使命、承担起更重责任、发挥出更大作用。”张世昕说。
国家发改委副主任丛亮在发布会上还表示，在优化民间投资项目融资支持方面，充分发挥与国家开发银行、中国工商银行、中信银行等7家银行建立的投贷联动机制的作用，向有关银行推送了首批715个民间投资的项目，请有关金融机构按照市场化、法治化原则，自主选择符合条件的项目给予金融支持。
China will reduce the number of items on the negative list for foreign investment and boost the openness level in modern services, said the country's top commerce official on Sunday. Addressing a sub-forum at the ongoing 2023 China International Fair for Trade in Services in Beijing, Chinese Commerce Minister Wang Wentao said the Chinese path to modernization will offer new opportunities for global development. China's doors of openness will only grow wider, welcoming businesses from all countries to actively invest in China, including investments in the service sector. Echoing that sentiment, Dominic Johnson, minister of state of the United Kingdom's Department for Business and Trade, said his country is ready to meet further the market demand of China's service industry and its vast consumer market. Given the challenges the global economy faces, the British official said "the world will be a far better place with the UK and China collaborating and cooperating more closely together".
推动合理缩减外资准入负面清单：9月3日周日上午，“投资中国年”服务业扩大开放推介大会在国家会议中心举办。商务部部长王文涛说，中国政府高度重视利用外资工作，将会同相关部门，推动合理缩减外资准入负面清单，加大现代服务业等领域开放力度。中国开放大门越开越大，欢迎各国企业积极投资中国，共享开放发展红利。会上，英国商业贸易部国务大臣多米尼克·约翰逊、联合国国际贸易中心副执行主任多萝西·腾博和部分世界500强企业代表致辞。鉴于全球经济面临的挑战，多米尼克·约翰逊表示：“随着英中两国更紧密地合作，世界将变得更加美好。”
Moving on to regional highlights
区域观察
Beijing, Tianjin, and Hebei province have signed 51 major investment projects with a total value of 104.5 billion yuan at the ongoing China International Fair for Trade in Services. The 51 projects cover 13 key industries, including modern services, scientific and technological services, digital economy, finance, green energy and eco-friendly energy conservation, biomedicine, and aerospace.
京津冀协同推介51个项目签约额超千亿：9月2日下午，“北京日”京津冀协同招商推介暨投资北京全球峰会在国家会议中心举办。本次峰会，京津冀首次“联名”登场，共同亮出重点领域项目。涵盖现代服务、科技服务、数字经济、金融、绿色能源与节能环保、生物医药、空天等13个重点产业的51个重大项目成功签约，签约金额达到1045.47亿元。
Greater Bay Area, Greater future
新使命，大未来
Hong Kong Financial Secretary Paul Chan Mo-po on Monday clarified that the government has not ruled out the chance of reducing the stamp duty for stock trading but that lowering the duty is not enough to stimulate long-term stock transactions. Speaking at a forum, Chan said it is not ideal to resolve the structural issues of the equity market by only reducing the stamp duty for stock trading. He added that the government must introduce comprehensive and integrated measures to achieve the long-term goal of strengthening and boosting the market. Chan wrote on his blog on Sunday that lowering the stamp duty could turn out to be counterproductive in the long run and undermine investor confidence.
陈茂波澄清未排除减印花税选项：香港财政司司长陈茂波周日（3日）发表网志，指调低股票印花税并不足以结构性、长期地刺激股市交投，令市场对香港会否减股票印花税存疑。对于港股市场，需要全面通盘地检视影响市场的各项因素，找出问题症结，以全面、综合的方案对症下药。陈茂波4日出席活动时澄清，称“大家不要误会”，强调并未排除减印花税的选项，只是需要以组合拳全面看，不能单靠一招。香港除不断提升自身竞争力，也要发挥好互联互通的角色，引进更多新水，基于地缘政治下大家关注资金量，故未来要研究如何更方便北水下来，而人民币双柜台只是其中一小部分，未来要研究更多风险管理及衍生工具产品，以及人民币国际化等。
Next on industry and company news
产业及公司新闻
Many Chinese new energy vehicle makers notched impressive sales last month amid fierce price competition in the sector. BYD continued to lead as it sold 274,386 EVs last month, an increase of 4.7 percent from July and rewrote its monthly delivery record for a fourth consecutive month in August. GAC Aion delivered 52,057 units in August, following strong months in June and July as well. Li Auto delivered 34,914 units last month, up 663.8 percent from a year ago. Nio delivered 19,329 vehicles in August, up 81 percent from the same period last year. Xpeng Motors delivered 13,690 new vehicles, up 43 percent, exceeding 10,000 units for the second straight month. Geely Holding Group-backed Zeekr delivered 12,303 units last month, up 71.7 percent. Some automakers fared less well, and reported a decline in sales last month. Hozon, also known as Neta Auto, delivered 12,103 units, down 24.5 percent from a year earlier. Leapmotor delivered 14,190 units last month, down 13.3 percent. Seres, which cooperates with Huawei Technologies, sold 6,243 NEVs last month, down 57.4 percent.
8月新能源车企销量可观：9月初，各大新能源品牌陆续公布了8月份的销量数据。从8月份各大品牌的销量数据看，新能源销量整体仍处于稳固增长态势。具体来看，8月份销量仍然是比亚迪断层领跑，乘用车销售274386辆，同比增长57.5%；广汽埃安8月终端交付量达52057辆，生产销售新车45029辆。蔚小理中，理想汽车共计交付新车34914辆，同比增长663.8%，理想L系列三款车型月交付均突破万辆；蔚来交付新车19329台，同比增长81.0%；已经连续两个月销量稳定在2万辆左右；小鹏汽车的销量继续得到了增长，共交付新车13690台，环比增长24%，同比增长43%，连续两个月交付突破万台。极氪品牌在8月份的销量达到12303辆，同比大涨71.7%。哪吒汽车在8月交付12103辆，环比增长20.56%，但同比下滑24.44%。8月份，零跑汽车的交付也出现环比下滑，8月份交付14190辆。赛力斯8月新能源汽车销售6243辆（包括但不限于问界），同比下降57.37%。
Luckin Coffee is upgrading its brand image by collaborating with Kweichow Moutai, one of China’s top liquor brands, with a new co-branded latte. The exclusive “liquor latte” is officially launched on Monday, pricing at 38 yuan a cup, and less than 19 yuan after discount. According to Luckin’s promotional image, the “liquor latte” uses baijiu-style thick milk which contains Kweichow Moutai of 53 percent alcohol, and has less than 0.5 percent alcohol. But the drink is recommended against minors, pregnant women, drivers and those allergic to alcohol, the coffee chain noted.
瑞幸与茅台联名咖啡今日上市：9月4日，瑞幸咖啡与贵州茅台推出的联名咖啡“酱香拿铁”正式上市，零售价38元/杯，使用相关优惠券后到手价约19元/杯。据介绍，酱香拿铁使用白酒风味厚奶（含53%vol贵州茅台酒），饮品酒精度低于0.5%vol，未成年人、孕妇、驾驶人员、酒精过敏者不建议饮用。
Shares in Country Garden jumped 14.6 percent today as its reached a deal with creditors for an extension on onshore debt payments worth 3.9 billion yuan. In the deal reached after a vote on its proposal late on Friday, Country Garden is now allowed to repay the onshore debt in installments over three years, instead of meeting its obligations by Sept. 2. Country Garden has also wired interest payments tied to a 100 million Malaysian ringgit bond that was due on Sept. 2, said a source familiar with the matter.
碧桂园39亿债务展期获通过：9月1日晚间，碧桂园旗下39.04亿元规模的境内债券“16碧园05”的展期方案在到期前夜获得通过。资料显示，该债券发行规模58.3亿元，当前余额为39.04亿元，票面利率5.65%，到期日为2023年9月2日。在提供给债权人的方案中，碧桂园提出本金展期三年的兑付方案。据知情人士透露，碧桂园还支付了9月2日到期的1亿马来西亚林吉特债券的利息。碧桂园港股今天大涨14.6%。
Earnings reports express
财报速递
Almost 90 percent of companies that have gone public on the main board of the Shanghai Stock Exchange made money in the first half, with firms in the food and beverage, beauty, household appliance and tourism sectors doing particularly well as offline consumption experiences a rebound. Overall, the net profit of the 1,685 companies listed on the main board of the Shanghai bourse dipped 2 percent as of Aug. 31 from a year ago to 2.3 trillion yuan, while revenue climbed 2 percent to 24.9 trillion yuan, according to the latest data.
Meanwhile, 80 percent of listed firm on the Shenzhen Stock Exchange that released first-half earnings results by the end of August had made a profit in the period. Of the 2,225 profitable companies, earnings grew at more than 51 percent in the first six months, up from 46.6 percent a year earlier, their financial statements showed. The 2,812 Shenzhen-listed companies that had disclosed first-half results had total net profit of 587.5 billion yuan, an 8.7 percent decline from a year ago. Their combined revenues rose 5.1 percent to 9.8 trillion yuan. The 1,313 firms of Shenzhen’s ChiNext board had a combined revenue of 1.78 trillion yuan, up by over 10 percent.
沪深上市公司上半年整体业绩稳定：目前，上海证券交易所、深圳证券交易所的上市公司基本完成2023年半年报披露。今年上半年，政策效应不断释放，众多上市公司经营业绩保持稳定。2023年上半年，沪市主板公司合计实现营业收入24.93万亿元，同比增长2%；净利润2.32万亿元、扣非后净利润2.23万亿元，同比分别微降2%、1%。从盈利公司数量看，沪市主板公司共计1427家保持盈利，占比近九成。深交所方面，截至8月底，在深圳证券交易所公布上半年收益报告的2812家中国上市公司中，实现营业收入合计9.83万亿元，同比增长5.10%；其中，2225家公司实现盈利，占比近八成。创业板公司营收增幅在A股市场大幅领先，1313家创业板公司合计实现营业收入1.78万亿元，同比增长10.36%，高出A股市场整体增幅8个百分点。其中，49%的公司实现了盈利增长，较上年同期增长了0.7个百分点。
The Beijing Stock Exchange (BSE) said on Sunday that 90 percent of the companies listed on the exchange made profits in the first half. The total revenue of profitable companies hit 77 billion yuan, up 4.43 percent year-on-year, while total net profit hit 5.75 billion yuan, down 24.9 percent, the BSE's data showed.
北交所九成企业上半年实现盈利：北京证券交易所9月3日发布的数据显示，2023年上半年，北交所上市公司克服多重不利因素影响，九成公司实现盈利，共计实现营业收入770.25亿元，同比增长4.43%；实现归母净利润57.53亿元，同比下降24.93%。
Switching gears to financial news
金融市场消息
The renminbi's share in global payments has exceeded 3 percent for the first time in July, marking a latest milestone in the currency's internationalization, said Jin Zhongxia, head of the International Department of the People's Bank of China on Sunday. Renminbi settlements accounted for 24 percent of the country's trade in goods in the January-July period, while overseas entities allocated 9.8 trillion yuan ($1.34 trillion) worth of renminbi assets by the end of June, Jin said. He added that the total amount of renminbi bonds and A shares held by overseas investors each reached 3.3 trillion yuan by the end of June. Jin said the PBOC will promote financial sector opening-up at a higher standard by improving the "Pre-establishment National Treatment" and "Negative List" regulatory model, optimizing the business environment and enhancing the regulatory capacity to manage the risks associated with wider opening-up. Meanwhile, China saw net foreign capital inflows in the first half, with foreign investors purchasing nearly US$79 billion worth of domestic bonds, central bank data showed.
人民币在全球支付占比突破3%：9月3日，在2023中国国际金融年度论坛上，中国人民银行国际部主管金中夏表示，今年以来，人民币国际化取得了新的可喜进展，7月人民币在全球支付中的占比首次突破3%。从贸易看，1-7月，货物贸易中人民币结算的占比达到了24%，为近年来的最高水平。从投资看，到6月末，境外主体配置人民币资产余额已经达到9.8万亿元人民币。截至6月底，海外投资者持有的人民币债券和A股的总额分别达到人民币3.3万亿元。中国人民银行将通过完善“设立前国民待遇”和“负面名单”监管模式，优化商业环境，增强管理与扩大开放相关风险的监管能力，以更高的标准促进金融业开放。
All the 217 publicly listed shares on the BSE rallied during the morning session on Monday, as China's securities regulator announced a new round of comprehensive reform measures to the bourse. On Friday, the China Securities Regulatory Commission (CSRC) said it will improve the quality of listed companies and allow eligible high-quality SMEs to issue IPOs and be listed on the BSE. The CSRC also noted the importance of enhancing market liquidity, saying that "it is essential to have sufficient liquidity to support a further development of the BSE," adding liquidity is the lifeblood of an exchange.
北交所全线飘红：9月4日早盘，217只北交所个股全部上涨，北证50指数大涨6%。9月1日，被称为“北交所深改19条”的《关于高质量建设北京证券交易所的意见》正式发布，提出一揽子针对性举措。其中提出，在坚守北交所市场定位前提下，允许符合条件的优质中小企业首次公开发行并在北交所上市。综合来看，本次改革将改善北交所市场流动性作为重点。证监会相关负责人介绍，流动性是交易所的血脉，是市场估值定价的重要因素。为更好的服务创新型中小企业，推进北交所进一步高质量发展，必须有足够的流动性作支撑。
Wrapping up with a quick look at the stock market
股市收盘情况
Chinese stocks received a boost on Monday from Beijing’s latest moves to prop up the country’s property sector. The benchmark Shanghai Composite and the Shenzhen Component each rose 1.4 percent. Hong Kong’s Hang Seng index gained 2.5 percent while the TECH index climbed 3 percent.
A股港股集体走高：周一A股三大指数集体走高。截至收盘，上证指数涨1.40%，深证成指涨1.41%，创业板指涨0.85%，报收2118.03点。两市全天成交额8849亿，较上个交易日放量1396亿元。北向资金全天净买入68.84亿元，结束此前连续5个交易日净卖出。港股高开高走，恒生指数收盘涨2.51%，恒生科技指数涨3%。
Biz Word of the Day
财经词汇划重点
Pre-establishment national treatmentmeans that foreign investors will receive treatment that is no less favorable than the treatment granted to Chinese domestic investors at the initial stage of entering the market.
“准入前国民待遇”是指在企业设立、取得、扩大等阶段给予外国投资者及其投资不低于本国投资者及其投资的待遇。
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.
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编委: 于晓娜
策划、编辑：李艳霞
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