Hi everyone. I』m Stephanie LI.
大家好，我是主持人李瑩亮。
Coming up on today』s program.
重點提要
The PBOC will set up a 200-billion-yuan special relending facility for equipment renovation;
China warns speculators not to bet against the yuan.
Here』s what you need to know about China in the past 24 hours
中國經濟要聞
The People's Bank of China has created a new relending facility to support businesses in upgrading their equipment - the central bank's latest effort to boost market confidence and spur demand in the manufacturing and services sectors.
The special relending facility will provide low-cost funding for loans issued to support equipment upgrades and renovation in the manufacturing and social services sectors, medium, small and micro-sized enterprises, and self-employed businesses, the PBOC said in a statement on Wednesday.
For qualified lenders that issue such loans at an interest rate of no more than 3.2 percent in the fourth quarter of the year, the PBOC will provide them with funding support worth equal to the principal of the loans, the statement said.
With an interest rate of 1.75 percent and a term of one year, the new facility will total more than 200 billion yuan ($27.58 billion), according to the statement.
The PBOC listed 10 specific areas that the new facility will support, including education, sanitation and health, culture, tourism and sports, charging pile, new infrastructure, and industrial digitalization.
On September 13, an executive meeting of the State Council proposed special relending and financial discounts to support the renovation of equipment in some fields, so as to expand market demand and increase development potential.
央行9月28日公告稱，為貫徹落實國務院常務會議關於支持經濟社會發展薄弱領域設備更新改造的決策部署，增加製造業和服務業現實需求、提振市場信心，人民銀行設立設備更新改造專項再貸款，專項支持金融機構以不高於3.2%的利率向製造業、社會服務領域和中小微企業、個體工商戶等設備更新改造提供貸款。
這是央行今年新創設的又一項再貸款，在支持特定領域的同時有助於推動寬信用。內外權衡下，以再貸款為代表的結構性貨幣政策工具依然是支持實體經濟的主要工具。
9月13日召開的國常會決定，對製造業、服務業、社會服務領域和中小微企業、個體工商戶等在第四季度更新改造設備，支持全國性商業銀行以不高於3.2%的利率積極投放中長期貸款。
專項再貸款額度2000億元以上，盡量滿足實際需求，期限1年、可展期兩次。同時落實已定政策，中央財政為貸款主體貼息2.5%，今年第四季度內更新改造設備的貸款主體實際貸款成本不高於0.7%。
央行披露信息顯示，設備更新改造專項再貸款額度利率為1.75%，該利率和今年創設的科技創新等其他幾類再貸款相同。但不同的是，財政貼息將進行配套支持，形成中央財政貼息+專項再貸款的模式。
央行相關負責人介紹，專項再貸款政策支持領域為教育、衛生健康、文旅體育、實訓基地、充電樁、城市地下綜合管廊、新型基礎設施、產業數字化轉型、重點領域節能降碳改造升級、廢舊家電回收處理體系等10個領域設備購置與更新改造。設備更新改造專項再貸款的發放對象包括國家開發銀行、政策性銀行、國有商業銀行、中國郵政儲蓄銀行、股份制商業銀行等21家金融機構。
該類再貸款同樣採取「先貸後借」的直達機制，即金融機構按照市場化、法治化原則自主向企業發放貸款、管理台賬，之後向人民銀行申請再貸款或激勵資金，人民銀行按貸款發放量或餘額增量的一定比例向金融機構發放再貸款或提供激勵資金。
China's GDP growth is expected to reach around 5 percent in the fourth quarter and around 3.5 percent this year, said the Bank of China Research Institute in a report published on Wednesday. Looking ahead, the report added that China's exports may weaken, the impact of COVID-19 on the economy will remain, and the recovery of domestic demand will rely on continuous strengthening of policies to stabilise growth and continuous optimisation of pandemic control policies.
中行研究院預計四季度GDP增長5%：中國銀行研究院28日發布《2022年四季度經濟金融展望報告》，預計三季度GDP增長3.8%左右，較二季度回升3.4個百分點左右。展望四季度，中國出口或將走弱，國內疫情影響仍持續存在，內需恢復有賴於穩增長政策持續發力以及防疫政策的持續優化。預計四季度GDP增長5%左右，全年增長3.5%左右。
Moving on to regional highlights
區域觀察
China's Xiong'an New Area saw robust growth in foreign trade in the year's first eight months, with its total import and export volume in cross-border e-commerce increasing sevenfold, media reported Wednesday. The value reached 208 million yuan from January to August, compared with 25 million yuan in 2021, official data showed.
前8月雄安跨境電商貿易額達2.08億元：據雄安自貿試驗區管委會28日消息，今年1至8月，新區跨境電商等外貿新業態新模式實現跨越式發展，跨境電商進出口額達2.08億元，較去年全年增加約1.83億元，增長超7倍。
Shanghai's State-owned enterprises contributed to more than one-fourth of the city's GDP in 2021, official data showed Wednesday. Output value of Shanghai's SOEs came to 1.23 trillion yuan last year, accounting for 28.5 percent of the city's overall GDP.
上海地方國企貢獻近3成GDP：28日消息，2021年，上海市市地方國有企業生產總值1.23萬億元，佔去年上海生產總值的28.5%。市地方國有企業資產總額、營業收入和利潤總額，約佔全國地方國企的1/7、1/9和1/6。
Greater Bay Area, Greater future
新使命，大未來
The Hong Kong Monetary Authority (HKMA)said on Thursday that its Global Financial Leaders』 Investment Summit will take place on November 2 with participants from over 100 major institutions. Thirty chief executives of global banks and funds including Blackstone, Goldman Sachs, HSBC, Morgan Stanley, Standard Chartered and UBS will attend. The meeting, with the theme of 「Navigating Beyond Uncertainty」, will be the biggest congregation of global financial heavyweights in Hong Kong since the Covid-19 pandemic drove the city into three years of quarantines and social-distancing.
香港11月初舉辦國際金融領袖峰會：香港金融管理局29日宣布，由其主辦的國際金融領袖投資峰會最新確定將於11月2日召開，約200位金融界領袖將會出席。此次國際金融領袖投資峰會將匯聚100多家全球重要金融機構的主要負責人，當中包括摩根士丹利、黑石集團、瑞銀集團等超過30家機構由董事長或行政總裁代表，討論全球金融界面臨的挑戰和機遇。此次會議將會是香港實行社交距離措施三年以來，全球金融巨頭在香港舉行的最大規模集會。
The HKMA will find a 「suitable use case」 for the proposed digital Hong Kong dollar, with pilot projects set to be launched soon to make it convenient for the public to adopt the virtual currency, media reported Thursday. The HKMA will launch a series of pilot schemes with banks and technology firms to test the digital currency - e-HKD - from the fourth quarter. The e-HKD will not have conflicts with the current three note-issuing banks as they may be the distributors.
香港金管局將啟動數字港元試點：據媒體29日報道，香港金融管理局將於第四季度與銀行及科技公司聯合啟動一系列央行數字貨幣試點計劃，探索央行數字貨幣，即數字港元在香港涉及的私隱保障和應用場景，便於後續向全港市民推行。據介紹，金管局將考慮由現時發鈔銀行發放數字港元，因此數字貨幣的使用將不會與香港三大發鈔銀行產生衝突。
The world's first 2,000-ton-class offshore wind power installation platform named Baihetan was formally delivered and put into operation in Guangzhou on Wednesday. The 126-meter-long, 50-meter-wide vessel also integrates functions such as transport, self-elevation, lifting and dynamic positioning and can meet the requirements needed for operating in deep and remote seas.
廣州2000噸級海上風電安裝平台投運：9月28日，由三峽集團投資建造的全球首艘新一代2000噸級海上風電安裝平台——「白鶴灘」號在廣州南沙正式交付投運。該船長126米，寬50米，集運輸、自升、自航、起重、安裝、動力定位等多功能於一體，具備10兆瓦以上海上風電機組安裝能力，能夠滿足深遠海一體化海上風電施工作業需求。
Next on industry and company news
產業及公司新聞
China』s new list of officially recognized occupations has added 97 jobs in the digital economy, according to an official at the Ministry of Human Resources and Social Security on Wednesday. The latest update adds 158 new occupations, raising the total number of occupations in the National Occupational Classification Code to 1,639.
職業分類大典首次標註97個數字職業：9月28日，人力資源和社會保障部發布2022年版《中華人民共和國職業分類大典》。新版大典收錄職業數新增158個，總數達到1639個，並首次標識了97個數字職業。
CATL said Wednesday that it would invest 14 billion yuan for a capacity expansion project, the third one the Chinese power battery giant has announced so far in the second half of the year. The new battery production facility will be located in Luoyang, central China's Henan province, and be completed in up to 36 months.
寧德時代140億元建新能源電池項目：寧德時代28日晚間發布公告稱，隨著國內外新能源行業快速發展，動力電池及儲能產業的市場持續增長，為進一步推動業務發展、滿足市場需求、完善產能布局，公司擬在河南省洛陽市伊濱區投資建設洛陽新能源電池生產基地項目，項目總投資不超過140億元。
Sinopharm has been granted import and dealership rights for US pharmaceutical giant Merck's antiviral Covid-19 drug. The pair will also evaluate the feasibility of technology transfer for the drug to be produced, supplied, and commercialised in China, Merck announced Wednesday.
國葯獨家引進默沙東新冠口服藥：9月28日，默沙東和國葯集團聯合宣布，雙方簽署合作框架協議，默沙東將其和Ridgeback公司合作研發的抗新冠病毒口服藥物莫諾拉韋的經銷權和獨家進口權授予國葯集團，同時雙方將評估技術轉讓的可行性，以便該藥物在中國境內生產、供應和商業化。
Chinese electric vehicle maker Nio said on Wednesday that the company will evaluate the demand-and-supply scenario in the market and carry out businesses in upstream industries related to the manufacture of EV core parts. Nio reportedly invested an estimated 600 million yuan in Greenwing Resources Ltd, said the Australia-based miner on Sunday, which is said to be stepping up its development of lithium project in Argentina.
蔚來投資阿根廷鋰礦項目：當地時間9月25日，澳大利亞鋰礦商綠翼資源公告稱，公司與蔚來汽車達成戰略融資協議，以加快其在阿根廷一鋰鹽湖項目的勘探計劃。據悉，蔚來此次投資總金額最高或超過6億元。對此，蔚來方面28日回應，「我們會針對智能電動汽車核心部件相關的上游進行評估和布局，保障長期競爭優勢。」
Switching gears to financial news
金融市場消息
Chinese officials stressed in a meeting that the yuan's exchange rate has maintained "basic stability" at a reasonable and balanced level this year, warning the market not to bet on the redback』s unidirectional movement as not a single gambler will win, said the PBOC on Wednesday, as the yuan plunged to fresh lows against a buoyant greenback. Although the yuan has depreciated against the US dollar, the range of depreciation is just half of the US dollar's appreciation range, the meeting noted.
央行表示不要賭人民幣匯率單邊升值或貶值：9月27日，全國外匯市場自律機制電視會議召開。會議指出，今年以來人民幣匯率在合理均衡水平上保持基本穩定。人民幣對美元匯率有所貶值，但貶值幅度僅為同期美元升值幅度的一半；人民幣對歐元、英鎊、日元明顯升值，是目前世界上少數強勢貨幣之一。會議強調，匯率的點位是測不準的，雙向浮動是常態，不要賭人民幣匯率單邊升值或貶值，久賭必輸。
China will deepen the market-based reform of exchange rate of the Chinese currency, and guide enterprises and financial institutions to improve the management of market expectations with the concept of 「prudent risk」, maintaining the basic stability of yuan』s exchange rate at a reasonable and balanced level, said the PBOC at its third-quarter monetary policy committee meeting. The country will set up mechanisms and institutions to support the real economy, improve innovative financial supporting system, encourage financial institutions to increase medium and long-term lending, and stabilise the industrial and supply chain to meet the nation』s carbon emission and carbon neutrality goals.
央行表示將深化匯率市場化改革：29日消息，近日中國人民銀行貨幣政策委員會召開2022年第三季度例會。會議指出，深化匯率市場化改革，增強人民幣匯率彈性，引導企業和金融機構堅持「風險中性」理念，加強預期管理，保持人民幣匯率在合理均衡水平上的基本穩定。構建金融有效支持實體經濟的體制機制，完善金融支持創新體系，引導金融機構增加製造業中長期貸款，著力穩定產業鏈供應鏈，努力做到金融對民營企業的支持與民營企業對經濟社會發展的貢獻相適應，以促進實現碳達峰、碳中和為目標完善綠色金融體系。
China will carry out pilot inclusive finance reform in Tongchuan, Shaanxi Province, Lishui in Zhejiang Province, and Chengdu in Sichuan Province, according to the plans released by the PBOC and seven relevant authorities on Wednesday. The plans would optimise the rural financial systems and improve financial support in key areas.
三地普惠金融改革試驗區總體方案出爐：9月28日，人民銀行網站發布信息顯示，經國務院同意，人民銀行於近日聯合多部門印發了關於陝西省銅川市、浙江省麗水市以及四川省成都市的普惠金融改革試驗區總體方案，在三地開展普惠金融改革試驗，探索普惠金融服務鄉村振興的有效路徑。
The multiple central bank digital currency bridge has successfully completed its first real-trade pilot test based on four national or regional central bank digital currencies from August 15 to September 23. A total of 20 commercial banks from four regions or countries jointly participated in the digital currency bridge pilot. The total amount of central bank digital currency issued in the pilot test was equivalent to more than 80 million yuan, realizing more than 160 cross-border payment and foreign exchange operations, with a settlement amount equivalent to more than 150 million yuan.
多邊央行數字貨幣橋完成真實交易試點：27日消息，由人民銀行數字貨幣研究所參與的「多邊央行數字貨幣橋項目」迎來新進展。8月15日至9月23日期間，首次成功完成了基於四個國家或地區央行數字貨幣的真實交易試點測試，來自四地的20家商業銀行基於貨幣橋平台為其客戶完成以跨境貿易為主的多場景支付結算業務。試點測試中發行的央行數字貨幣總額為8000餘萬元，實現跨境支付和外匯兌換同步交收業務逾160筆，結算金額摺合人民幣超過1.5億元。
Wrapping up with a quick look at the stock market
股市收盤情況
Chinese stocks closed mixed on Thursday, with the benchmark Shanghai Composite edging down 0.13 percent, while the Shenzhen Component was up 0.18 percent. Hong Kong stocks finished with more losses, with the benchmark Hang Seng sliding 0.49 percent, and the TECH Index fell 1.2 percent after briefly touching the lowest since its 2020 inception.
恒生科技指數創歷史新低。據南財金融終端顯示，截至收盤，上證指數跌0.13%，報收3041.20點，深證成指漲0.18%，報收10919.44點，創業板指漲0.83%，報收2333點。板塊方面，醫療器械、CRO概念等板塊漲幅居前，房地產開發及服務、港口航運等板塊指數跌幅居前。港股恒生指數收跌0.49%，恒生科技指數收跌1.24%，盤中創歷史新低。
Biz Word of the Day
財經辭彙劃重點
A special relending facilityis a program to implement currency policy and support equipment purchasing and upgrading in several sectors with loans of relatively low interest rate.
專項再貸款是指中央銀行為實現貨幣政策目標而對金融機構發放的專項貸款。狹義的再貸款指的是中央銀行對金融機構貸款的總稱；廣義的再貸款指的是再融資的概念，其中包含票據再貼現。
Executive Editor: Sonia YU
Editor: LI Yanxia
Host: Stephanie LI
Writer: Stephanie LI, HUANG Yuyan
Sound Editor: HUANG Yuyan
Graphic Designer: ZHENG Wenjing, LIAO Yuanni
Produced by 21st Century Business Herald Dept. of Overseas News.
Presented by SFC
編委: 於曉娜
策劃、編輯：李艷霞
播音：李瑩亮
撰稿：李瑩亮、黃雨嫣
音頻製作：黃雨嫣
設計：鄭文靜、廖苑妮
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