CBN丨China holds tone-setting national financial work conference

金才经网——专业的财经网站-中国金融财经门户网站　文稿合作 QQ：58061970 电话：18957101161

21世纪经济报道 2023-11-01 20:43:00

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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 holds top financial meeting to strengthen supervision and ensure high-quality development;
Several Chinese social media platforms require popular accounts to show real names.

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

中国经济要闻

The central financial work conference that concluded on Tuesday stressed to comprehensively strengthen financial supervision, improve the financial system, optimize financial services, prevent and resolve risks, unswervingly follow the path of financial development with Chinese characteristics, and promote high-quality financial development.

The two-day conference, usually convened once every five years, is closely watched as it sets the direction for China's financial policymaking for the following years. Coming at a time of global economic woes and financial risks, this year's conference addressed various challenges and risks, including the housing market and local government debts, and outlined various efforts to ensure high-quality development.

The conference stressed that finance is the lifeblood of the national economy and an important component of national core competitiveness. It called for building a financial powerhouse, strengthened financial supervision, an improved financial system, optimized financial services, and prevention of risks.

On local government debt risks, the meeting called for the establishment of a long-term mechanism to prevent and resolve local debt risks and a government debt management mechanism that is compatible with high-quality development.

On the housing market, the meeting urged to improve the supervision system and capital supervision of real estate enterprises, improve macro-prudential management of real estate financing, and meet the reasonable financing needs of real estate enterprises of different ownerships without discrimination.

It called for high-quality financial services in areas such as major strategies, important areas and weak links. More financial resources should be perted to technological innovation, advanced manufacturing, green development and small- and medium-sized enterprises.

To promote high-level financial opening-up, the meeting urged to steadily expand institutional opening-up in the financial sector, improve cross-border investment and financing facilitation, and attract more foreign financial institutions and long-term capital to expand and conduct businesses in China..

The meeting also urged to ensure national financial and economic security, and prevent risk transmission across regions, markets and borders.

10月30日至31日中央金融工作会议在北京召开，这是2017年全国金融工作会议召开后，时隔6年再次召开全国性的金融工作会议，且此次会议升级为中央金融工作会议。

会议首次提出建设“金融强国”，强调金融是国民经济的血脉，是国家核心竞争力的重要组成部分，要加快建设金融强国，全面加强金融监管，完善金融体制，优化金融服务，防范化解风险，坚定不移走中国特色金融发展之路，推动我国金融高质量发展，为以中国式现代化全面推进强国建设、民族复兴伟业提供有力支撑。

会议指出，金融领域各种矛盾和问题相互交织、相互影响，有的还很突出，经济金融风险隐患仍然较多，金融服务实体经济的质效不高，金融乱象和腐败问题屡禁不止，金融监管和治理能力薄弱。

金融服务经济社会发展，货币政策定调尤为重要。会议强调，要着力营造良好的货币金融环境，充实货币政策工具箱，加强货币供应总量和结构双重调节。

对于金融如何为经济社会发展提供高质量服务，会议指出，要着力营造良好的货币金融环境，切实加强对重大战略、重大领域和薄弱环节的优质金融服务；更加注重做好跨周期和逆周期调节；做好科技金融、绿色金融、普惠金融、养老金融、数字金融五篇大文章；支持国有大型金融机构做优做强，严格中小金融机构准入标准和监管要求等等。

防控风险是金融工作的永恒主题，有效的金融监管能一定程度上降低金融风险。会议列明了五大风险领域：中小金融机构风险、地方债务风险、房地产市场风险、金融市场风险和外汇市场风险。

这次中央金融工作会议明确“以全面加强监管、防范化解风险为重点”，确定当前风险防控的重点任务：切实提高金融监管有效性、及时处置中小金融机构风险、建立防范化解地方债务风险长效机制、促进金融与房地产良性循环、维护金融市场稳健运行。

会议还指出，要着力推进金融高水平开放，确保国家金融和经济安全。稳步扩大金融领域制度型开放，提升跨境投融资便利化，吸引更多外资金融机构和长期资本来华展业兴业。增强上海国际金融中心的竞争力和影响力，巩固提升香港国际金融中心地位。

China's market remains attractive to foreign firms, with more than 80 percent of foreign-funded enterprises in China satisfied with the business environment during the third quarter, according to a survey conducted by the China Council for the Promotion of International Trade (CCPIT). The survey, which covered 700 foreign-funded enterprises, showed that 70 percent of the foreign enterprises "remained stable" in the layout of their industry chains in China, which was 4.57 percentage points higher than in the second quarter. "Technological innovation and R&D" were the biggest development opportunities in the Chinese market, and about half of the firms were willing to increase investment in the western region for the third consecutive quarter, CCPIT said on Tuesday. The survey also found that nearly 90 percent respondents expect their profits to remain stable or increase in China over the next five years.
贸促会称八成外企对中国营商环境评价满意：10月31日，中国贸促会发布《2023年第三季度中国外资营商环境调研报告》。据介绍，今年三季度，中国贸促会对700家外资企业进行调研访问并形成报告。报告显示，八成以上受访外资企业对中国营商环境评价满意以上。从产业链布局看，七成受访外资企业在华产业链布局趋向“保持稳定”，这一比例较二季度环比提高4.57个百分点。从在华经营现状及预期看，八成受访外资企业预期本年度利润持平或有所提高，近九成预期未来五年利润持平或有所提高。从发展机遇看，受访外资企业连续三个季度认为“技术创新与研发”是中国市场最大的发展机遇，约半数具有增资意愿的受访外资企业考虑在西部地区增资。
China will establish a pilot free trade zone or FTZ in the Xinjiang Uygur autonomous region to promote high-quality development in the central and western regions, foster a golden pathway between Asia and Europe, and better serve the Belt and Road Initiative, according to a guideline issued by the State Council, the country's Cabinet, on Tuesday. The pilot FTZ will have three subzones in Urumqi, Kashgar and Khorgos, covering a combined area of 179.66 square kilometers, the guideline said, noting that each subzone will position itself distinctively, based on its specific advantages.
新疆自由贸易试验区获批设立：10月31日，国务院印发《中国（新疆）自由贸易试验区总体方案》，明确自贸试验区实施范围179.66平方公里，涵盖乌鲁木齐、喀什、霍尔果斯3个片区，赋予自贸试验区更大改革自主权，充分发挥新疆“五口通八国、一路连欧亚”的区位优势，深入开展差别化探索，培育壮大新疆特色优势产业。

Greater Bay Area, Greater future

新使命，大未来

Hong Kong's economic growth gathered pace in the third quarter, fueled by inbound tourism and private consumption. According to the advance estimates released by the government on Tuesday, the economy expanded by 4.1 percent in the three months ending September compared with the same period last year, the strongest quarterly growth since the first quarter last year. The government also said exports in the third quarter fell 8.6 percent year on year, an improvement from the 15.1 percent drop in the previous three months.
香港三季度GDP增长加速：香港政府统计处10月31日发布2023年第三季的香港生产总值预先估计数字。2023年第三季香港生产总值较上年同期实质上升4.1%，而第二季的升幅为1.5%。香港生产总值在2023年第三季持续扩张主要是由于内部需求及服务贸易均进一步改善。同期，按国民经济核算定义计算，货品出口总额与上年同期比较录得8.6%的实质跌幅，较第二季15.1%的跌幅有所收窄。

Next on industry and company news

产业及公司新闻

Leading Chinese social media platforms, including instant messaging app WeChat, microblogging platform Weibo, video sites Kuaishou and Bilibili, lifestyle platform Xiaohongshu, and blog site Baijiahao announced yesterday that accounts with at least one million followers need to verify their real names, with the threshold to be lowered to 500,000 followers in the future. If the popular accounts fail to comply with the new regulations, they will have their online exposure limited and revenue cut, the social media platforms noted.
多平台宣布推动“大V前台实名制”：10月31日傍晚，抖音、微博、快手、微信等多家自媒体平台宣布，将分批次、分阶段引导“粉丝”量50万以上的“自媒体”账号对外展示实名信息，账号注册主体为个人类型的将显示注册人真实姓名，机构类账号显示企业、机构名称，相关实名信息可在账号资料页进行查看。多家平台均声明，将对未按要求实名的大V账号限制其流量和收入，包括推荐流展示限制、热搜展示限制、广告分成限制、打赏收入限制等。
Shares in Kweichow Moutai surged as much as 9.8 percent today after China’s leading liquor maker said it is increasing the price of its flagship spirit by 20 percent in the firm’s first price hike in six years. Kweichow Moutai is raising the ex-factory price of its Feitian Moutai baijiu, which has an alcohol content of 53 percent, today to 1,162 yuan per bottle from 969 yuan, the premium distillery said last night. The price hike will not affect the rice wine’s recommended retail price of 1,499 yuan per bottle, it added.
茅台深夜提价20%：10月31日晚间，贵州茅台公告称，11月1日起上调53%vol贵州茅台酒（飞天、五星）出厂价格，平均上调幅度约为20％，调整不涉及市场指导价格。据悉，大单品飞天茅台最新的出厂价已从969元/瓶调整为1169元/瓶，但市场指导价（零售建议价格）1499元/瓶暂时不变。11月1日开盘，茅台股价大幅拉涨，最终收涨5.72%，报1780.99/股。
Alibaba Cloud, the cloud computing unit of Chinese tech heavyweight Alibaba Group, on Tuesday unveiled the latest version of its large language model, Tongyi Qianwen 2.0. The new model boasts a few hundreds of billions of parameters, a benchmark used to measure AI model power, and represents a substantial upgrade from its predecessor launched back in April, Alibaba Cloud said. "Currently, 80 percent of China's technology companies and half of large model companies run on Alibaba Cloud. We aim to be the most open cloud in the era of AI," said Joe Tsai, chairman of Alibaba Group at Alibaba Cloud's annual flagship tech event Apsara Conference.
阿里云通义千问2.0上线：10月31日，2023云栖大会在杭州云栖小镇开幕。阿里云正式发布千亿级参数大模型通义千问2.0。在10个权威测评中，通义千问2.0综合性能超过GPT-3.5，正在加速追赶GPT-4。据介绍，通义千问2.0在复杂指令理解、文学创作、通用数学、知识记忆、幻觉抵御等能力上均有显著提升。当天上午，阿里巴巴集团董事会主席蔡崇信在开幕式上致辞表示，目前全国80%的科技企业和超过一半的AI大模型公司跑在阿里云上。从底层算力到AI平台再到模型服务，阿里巴巴加大研发投入，推动阿里云进行全面的技术升级和创新。“我们要打造AI时代最开放的云”，他说。
Power Construction Corporation of China, a state-owned energy infrastructure projects construction contractor, said yesterday that two of its subsidiaries have secured contracts for two large overseas infrastructure projects worth USD1.76 billion in total. Its Argentinian unit inked a USD957 million EPC contract with the owner of a project in the country's two provinces to build a comprehensive key water-control project, while Powerchina International Group has penned another EPC contract worth USD803 million to construct a wind farm with a capacity of 1,000 megawatts in Laos' Sekong province.
中国电建拿下两项海外合同总值过百亿：10月31日中国电建公告，近日，公司下属阿根廷分公司与阿根廷卡塔马卡省及土库曼省签订了阿根廷波德综合水利枢纽项目EPC总承包合同，合同金额约9.57亿美元，折合人民币约68.72亿元；下属子公司中国电建集团国际工程有限公司与英派能源亚洲有限公司签订了老挝色贡1000MW风电项目设计、采购、运输EPC合同协议，合同金额约8亿美元，折合人民币约57.44亿元。
Home sales by China's leading 100 property developers dropped 28 percent last month from a year earlier despite a round of widespread and robust policy benefits. The developers sold about 406.7 billion yuan worth of properties in October, data from real estate data research institute CRIC Research Center showed yesterday. The figure was up 0.6 percent from September when sales rose 17.9 percent from a year ago. More than half of the developers saw sales fall in October from a month earlier, with that of nearly 20 percent of them tumbling over 30 percent. Total sales of the 100 developers stood at 4.56 trillion yuan in the first ten months, a year-on-year drop of 13 percent.
百强房企10月销售涨幅回落：据克而瑞最新统计显示，10月百强房企实现销售操盘金额4066.9亿元，环比增长0.6%，同比降低27.5%，同比降幅仍保持在较高位。与9月17.9%的涨幅相比，10月百强房企销售业绩涨幅大幅回落。其中，近六成百强房企10月单月业绩环比降低，有20家百强房企的单月业绩环比降幅大于30%，40家的环比降幅在0-30%之间。1-10月百强房企实现销售操盘金额45634.6亿元，同比降低12.8%，年内累计业绩降幅继续扩大。

Wrapping up with a quick look at the stock market

股市收盘情况

Chinese stocks closed mixed on Wednesday with the benchmark Shanghai Composite gaining 0.1 percent, while the Shenzhen Component dipped 0.4 percent. Hong Kong’s Hang Seng index barely nudged, while the TECH index slid 0.2 percent.
A股分化港股微跌：周三A股大盘全天探底回升，震荡分化，沪指高开回落，创业板指探底回升。截至收盘，沪指涨0.14%，深成指跌0.38%，创业板指跌0.46%。沪深两市今日成交额8119亿，较上个交易日缩量1064亿。北向资金全天净卖出20.82亿元。港股基本平收，恒指跌0.06%，恒生科指跌0.18%。

Biz Word of the Day

财经词汇划重点

Engineering, procurement, and construction (EPC) contracts (a type of turnkey contract) are a form of contract used to undertake construction works by the private sector on large-scale and complex infrastructure projects.
EPC项目即工程总承包企业按照合同约定，承担工程项目的设计、采购、施工、试运行服务等工作，并对承包工程的质量、安全、工期、造价全面负责。