CBN丨Chinese financial regulators vow to implement tasks after tone-setting 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 2023-11-02 19:56:00

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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's top financial and securities regulators vow to implement measures stressed in key economic meeting;
Chinese NEV makers posted strong sales in October.

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

中国经济要闻

Chinese financial regulators on Wednesday moved swiftly to implement tasks set by the top-level, tone-setting central financial work conference, including announcing new regulations for commercial banks and vowing to take measures to defuse risks and ensure sound and stable development.

In a meeting to advance the implementation of the measures emphasized at the conference, the National Administration of Financial Regulation (NAFR) emphasized the need for financial services to aid the real economy, while also prioritizing risk prevention, financial innovative development, supply side structural reform, and the opening and safety of financial markets.

On Wednesday, the NAFR issued new guidelines for the capital management of commercial banks, which contained measures to strengthen the supervision of commercial banks so as to prevent risks.

Also on Wednesday, an official from the People's Bank of China (PBOC) said that the central bank will carry out the requirements of the conference to the letter, adhere to the political and people-oriented nature of financial work and adopt a prudent monetary policy. The PBOC vowed to promote the development of the financial market, optimize financial structures and improve financial services.

On the property market, the PBOC said each city should make good use of its local policy tools to meet inelastic demand as well as demand for improved housing. The central bank will also increase financial support for housing rentals.

The China Securities Regulatory Commission (CSRC) also vowed to meet various requirements announced at the conference. The CSRC said that it will adhere to the path of financial development with Chinese characteristics and accelerate the construction of a safe, standardized, transparent, efficient, dynamic and resilient capital market. It will also effectively and methodically defuse risks in key areas and guard against systemic financial risks.

It also stressed the need to improve the development of the capital market. The CSRC said it would further implement the registration-based IPO regime, improve the stock exchanges in Shanghai and Shenzhen to a world-class level, support the Beijing Stock Exchange, and lead market investment into the technology sector.

中央金融工作会议召开后，金融监管部门先后发声，明确接下来的重点工作任务。

11月1日至2日，中国人民银行、国家外汇局、金融监管总局、证监会先后召开党委（扩大）会议，传达学习中央金融工作会议重要讲话精神。

在当前“一行一总局一会一局”（人民银行、国家金融监督管理总局、证监会、外汇管理局）的金融监管架构下，各金融监管机构分别提出具体工作任务，释放出一系列全面加强金融监管的政策信号。

2日，中国人民银行党委、国家外汇局党组召开扩大会议，传达学习中央金融工作会议重要讲话精神。

会议强调，央行、外汇局将坚持金融服务实体经济的宗旨。会议表示，健全中国特色现代货币政策框架，始终保持货币政策的稳健性，更加注重做好跨周期和逆周期调节，充实货币政策工具箱，为稳定物价、促进经济增长、扩大就业、维护国际收支平衡营造良好的货币金融环境。发挥好货币政策工具的总量和结构功能，更好支持科技创新、民营小微、先进制造、绿色发展等重大战略、重点领域和薄弱环节。因城施策指导城市政府精准实施差别化住房信贷政策，更好支持刚性和改善性住房需求，有效满足房地产企业合理融资需求，支持“平急两用”公共基础设施、城中村改造和保障性住房建设“三大工程”，加大住房租赁金融支持力度，促进房地产市场健康平稳发展。

同时，会议强调，要稳妥处置重点区域和重点机构风险，打击非法金融活动。完善金融风险防范、预警和处置机制。推动金融稳定立法，加快金融稳定保障基金建设，牢牢守住不发生系统性风险的底线。做好金融支持地方债务风险化解工作，推动建立防范化解风险长效机制。综合施策，稳定市场预期，坚定维护金融市场平稳运行，及时纠偏外汇市场顺周期、单边行为，防范人民币汇率大起大落风险。

1日，金融监管总局党委书记、局长李云泽主持召开党委（扩大）会议，明确要积极构建中国特色金融监管体系；全面强化“五大监管”，探索构建中国特色金融监管体系的“四梁八柱”，大力推进金融强国建设；严厉打击非法金融活动；有效防范化解重大风险隐患。全力推动金融业高质量服务中国式现代化；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等。

同日，证监会召开党委（扩大）会议。会议明确，要推动股票发行注册制走深走实，加强基础制度和机制建设，加大投资端改革力度，吸引更多的中长期资金，活跃资本市场，更好发挥资本市场枢纽功能；要健全多层次市场体系，支持上海、深圳证券交易所建设世界一流交易所，高质量建设北京证券交易所；要更加精准有力支持高水平科技自立自强，建立健全针对性支持机制，引导私募股权创投基金投早投小投科技；要大力推动提高上市公司质量，优化再融资和并购重组机制，巩固深化常态化退市机制，支持上市公司转型升级、做优做强；要稳步扩大资本市场制度型开放，促进跨境投融资便利化等。

Moving on to regional highlights

区域观察

The 6th China International Import Expo, which runs from Nov. 5 to 10 in Shanghai, will operate with all-green energy for the first time, likely reducing carbon dioxide emissions by 3,360 tons. State Grid Shanghai Municipal Electric Power, the power supplier of the CIIE, has purchased 8 million kilowatt hours of wind and photovoltaic power from Anhui province for this year's event. This will cover all electricity used during the exhibition. In addition, public transport at the CIIE will be exclusively made up of new energy vehicles.
本届进博会100%绿电办展：第六届进博会将于11月5日至10日举行。在国家能源局华东监管局组织下，第六届中国国际进口博览会通过省间绿电交易的方式，成功采购绿电800万千瓦时，可覆盖此次进博会展会期间的全部用电量，也标志着进博会将首次实现全绿电办展，预计可减排二氧化碳3360吨。届时，来自安徽的风电、光伏等新能源将持续点亮进博会的每一盏灯，驱动摆渡的每一辆车，运行展示的每一台设备。

Greater Bay Area, Greater future

新使命，大未来

The Hong Kong Exchanges and Clearing (HKEX) will be in charge of developing and operating a new integrated fund platform, with its first phase set to be ready for launch by the end of 2024, the government announced on Thursday. The platform – first announced by Chief Executive John Lee in his second Policy Address – will cover the full distribution cycle for retail funds in Hong Kong, provide information on funds, and serve as a network connecting different stakeholders. The bourse operator said it's currently evaluating the operating model and structure of the platform, and intends to finalize its design and development framework over the coming months.
港交所筹备开发综合基金平台：11月2日，香港交易所宣布正在筹备为香港零售基金开发一个综合基金平台，以支持香港作为全球财富管理中心的发展。港交所表示，这个开发中的平台，将涵盖香港零售基金的整个分销周期和价值链，有助于降低基金行业的准入门槛，便利市场参与者向客户分销基金产品。投资者亦能获得更广泛的产品选择，丰富其投资组合并提高整体市场效率。该平台将涵盖证券及期货事务监察委员会（证监会）认可的基金。港交所表示，目前正在评估综合基金平台的运营模式和结构，计划在未来几个月内确定平台的设计和开发框架。
Hong Kong and Guangdong authorities on Thursday unveiled a one-stop online portal designed to allow people and businesses on both sides of the border to access over 50 public services. The first 54 Hong Kong services covered areas such as taxation, company registration, real estate, vehicle inquiries and registration, identification documents and immigration applications, welfare and education, as well as healthcare.
粤港政府签订跨境通办合作协议：11月2日，香港特区政府创新科技及工业局举行粤港政务服务“跨境通办”合作成果发布会，并与广东省政府签署《粤港政务服务“跨境通办”合作协议》。创科及工业局孙东提到，两地政府已分别提供超过50项网上跨境通办政务服务，便利两地市民和企业。首批服务涵盖范畴，包括税务公司注册、物业及车辆查询与登记、个人证明文件、人才入境福利申请、教育以及医疗健康等等。大湾区居民及企业可透过特区政府特设的跨境通办专题网站，浏览相关服务资讯，并随时在线上办理申请手续。

Next on industry and company news

产业及公司新闻

Leading Chinese new energy vehicle manufacturers BYD, Li Auto, and Xpeng Motors have broken their monthly delivery or sales records in October, a traditional high season in China for auto consumption. Last month, BYD sold 301,800 units, up nearly 39 percent from a year earlier and exceeding the threshold of 300,000 units in a single month for the first time. Li Auto exceeding the 40,000 units threshold for the first time, shipping 40,422 units last month, up 302 percent from the same period last year. Xpeng delivered 20,002 NEVs, up 292 percent from the same period last year. Leapmotor Technology and Nio each delivered 18,202 and 16,074 NEVs last month, up 159 percent and 60 percent respectively from a year earlier. Aito, an EV brand co-built by Huawei and automaker Seres, saw its monthly sales rise 5.4 percent to 12,700 units in October and Geely-backed Zeekr’s delivery hit 13,100. Hozon New Energy Automobile is the only Chinese NEV startup with declining sales. The firm sold 12,085 units last month, down 8.5 percent from September and 33 percent from a year earlier.
新能源车企10月竞相大卖：11月1日，多家新能源车企公布10月销量数据。比亚迪10月新能源汽车销量30.18万辆，去年同期为21.78万辆；1~10月新能源汽车销量238.15万辆，同比增长70.36%。这也是比亚迪月销量首次突破30万辆大关。新势力车企10月销量也纷纷报喜。理想汽车的月度交付量再创新高，10月交付新车4.04万辆，大增3倍。在新款M7上市的带动下，AITO问界10月的交付表现也格外抢眼，当月交付量达到1.27万辆。重拾增长的还有小鹏汽车，10月交付量达到2万辆。此外，其中，零跑汽车10月交付1.82万辆，同比增长159%；蔚来10月交付量1.61万辆，环比增长2.8%；极氪10月交付量达1.31万辆，同比增长29.2%，环比增长8.5%。而去年多月霸榜的哪吒汽车10月交付量继续下滑8.5%至1.21万辆，对比去年同期下滑32.9%，是唯一一家同比、环比均遭遇下滑的新势力。
Baidu has launched the paid version of its ChatGPT-like service Ernie Bot, as the country’s tech companies race to make money from their generative artificial intelligence technology. The professional plan gives users access to the recently released Ernie Bot 4.0 at 59.9 yuan per month, according to the tech company’s official website. The subscription allows users to make 100 inquiries every three hours via Ernie Bot 4. Meanwhile, the more basic Ernie Bot 3.5 remains free of charge to the public.
文心一言付费专业版上线：11月1日消息，百度正式上线文心一言专业版，定价为59.9元/月，连续包月优惠价49.9元/月。而此前已经向用户开放的文心一言基础版，仍可免费使用。据悉，相对基于文心大模型3.5的基础版，基于4.0的专业版具备更强的模型能力和图片生成能力，支持丰富的实用插件，更适合需要使用文心一言进行代码编程、文案撰写、绘画设计等专业工作需求的用户。
Tsingtao Brewery, one of China’s biggest beer makers, has apologized after a police investigation found out that the person who appeared to urinate in a malt container in a recent viral video was an employee of a third-party supplier. All batches of malt involved in the incident have been sealed, and the person has been detained, the Pingdu police noted. Tsingtao said the incident reflects its loopholes in terms of raw material transport and management, and vowed to replace its raw material transport vehicles with hermetic ones, tighten the management of outsourced employees, derelict the relevant executives involved in the probe, and the sealed malt will be decontaminated under supervision.
青岛啤酒就“工人在原料仓小便”事件致歉：11月1日，平度市联合调查组发布情况通报“工人在青岛啤酒原料仓小便”事件称，涉事装卸工被行拘。当晚，青岛啤酒就“小便事件”致歉，并就“原料厂小便事件”发布整改情况说明。青岛啤酒称，此事的发生，反映出我们在原料运输管理上有漏洞，向广大消费者表示真诚的歉意。同时，提出采取4项整改措施，包括原料运输车辆全部改为全封闭自卸车、强化外包业务人员管理、对相关责任单位、责任人的失职行为进行调查，以及对已封存的麦芽进行无害化处理。青岛啤酒股价连续三日下跌，今日收跌2.25%。

Earnings reports express

财报速递

Chinese coffee chain Luckin Coffee reported an 87 percent increase in net profit in the third quarter of the year, mainly because of the increased number of stores. Quarterly net profit stood at 988 million yuan, while revenue soared 85 percent to 7.2 billion yuan from a year earlier, the firm announced yesterday. Luckin Coffee opened 2,437 new outlets in the third quarter, with total store count reaching 13,273, among which 8,807 were self operated and 4,446 jointly operated. By the end of the year, Luckin Coffee aims to reach 15,000 outlets. Revenue from self-operated stores was around 5.1 billion yuan in the period, up 79 percent from a year earlier. The figure for its jointly-operated stores was 1.8 billion yuan, up 105 percent. In the third quarter, Luckin’s new customers exceeded 30 million, with a monthly average of 58.5 million, a new record high.
瑞幸咖啡三季净收入增长85%：11月1日晚，瑞幸咖啡公布了第三季度财报，单季实现总净收入72亿元人民币，同比增长84.9%，净利润9.880亿元，同比增长87%；月均交易客户数达5848万，创历史新高。第三季度瑞幸咖啡门店规模进一步扩大，净新开门店2437家，总门店数量环比增长22.5%。截至第三季度末，瑞幸咖啡门店总数达13273家，其中自营门店8807家，联营门店4466家，持续保持行业领先地位。到今年年底瑞幸的门店规模将达到15000家。从门店运营层面来看，瑞幸咖啡自营门店收入第三季度为51.4亿元人民币，较去年同期增长79.3%；联营门店收入也增长至18.4亿元，同比翻倍增长。在门店加速布局和产品不断创新的双重作用下，本季度瑞幸咖啡新客户数超过3000万，月均交易客户数达到5848万，再创历史新高。截止三季度，瑞幸咖啡累计消费客户已超过2亿。

Wrapping up with a quick look at the stock market

股市收盘情况

Chinese stocks fell on Thursday with the benchmark Shanghai Composite down 0.5 percent and the Shenzhen Component losing 0.9 percent. Hong Kong’s Hang Seng index rose 0.8 percent and the TECH index added 1.6 percent.
A股收跌港股收涨：周四A股三大指数今日集体收跌，截至收盘，沪指跌0.45%，深成指跌0.94%，创业板指跌0.99%，沪深两市成交额7668亿元。两市超4200只个股下跌。北向资金全天净买入23.24亿元。港股高开后缓慢回落，恒指收涨0.75%，恒生科指涨1.63%。

Biz Word of the Day

财经词汇划重点

Macro-prudential management refers to the use of a series of macro-prudential indicators and taxation instruments to curb the accumulation of systemic risks and to increase the stability of financial institutions within a country.
宏观审慎管理关注整个金融系统的稳定，是从宏观的视角采取措施，防范由金融体系顺周期波动和跨部门传染导致的系统性风险，维护货币和金融体系的稳定。