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 vows to stop financing new overseas coal projects;
-Evergrande’s share closed up 18% today as it promised to make yuan bond coupon payment on time;
-RMB bonds for $1.24 billion on auction in HK.
Here’s what you need to know about China in the past 24 hours
中国经济要闻
Coal power is one step further to be “consigned to history.”
China will not build new coal-fired power projects abroad, President Xi Jinping announced at the UN General Assembly on Tuesday, as he promised more support for other developing countries in green and low-carbon energy.
“China will strive to peak carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060,” Xi said, adding that this requires tremendous hard work, and "we will make every effort to meet these goals.”
The promise could impact some $50 billion worth of investment in 44 projects in Asia and Africa, as China being one of the biggest foreign financiers of coal-fired power plants.
UN Secretary-General Antonio Guterres said that “accelerating the global phaseout of coal is the single most important step to keep the 1.5-degree goal of the Paris Agreement within reach.” The US climate envoy John Kerry said that he is "absolutely delighted" to hear the announcement, calling it a “great contribution” and a good foundation for success in Glasgow.
China still heavily relies on coal for domestic energy needs, accounting for more than 50 percent of the world’s total capacity and over 80 percent of newly-added capacity of coal power generation.
But a hint of China’s shift came earlier this year. For the first time in several years, China funded zero new coal projects in the Belt and Road Initiative in the first six months of 2021.
China has been shifting its investment strategy from overseas coal projects to renewable energy for the past few years. In 2020, China spent 57 percent of its overseas energy investment in renewable energy, including solar, wind and hydropower, far outweighing coal.
In his maiden UN address, US President Joe Biden said he would seek to double aid to help address climate change to about $11.4 billion a year by 2024, yet uncertainty looms as it depends on congressional approval.
中国正在一步一步地将“煤电载入历史”。
当地时间9月21日，国家主席习近平在北京以视频方式出席第七十六届联合国大会一般性辩论时表示，“中国将力争2030年前实现碳达峰、2060年前实现碳中和，这需要付出艰苦努力，但我们会全力以赴。中国将大力支持发展中国家能源绿色低碳发展，不再新建境外煤电项目。”
我国是全球煤电装机容量第一大国，煤电装机容量和发电量均占全球总量的一半以上。当前，我国煤电装机容量仍在继续增长，过去10年年均净新增装机容量超过4000万千瓦，占全球净新增煤电装机容量的80%以上。不仅如此，中国也是境外最大的燃煤电厂融资方之一。
不过，情况正在发生变化。今年上半年，“一带一路”没有为任何煤炭项目提供资金，是该倡议提出以来首次。在实践层面，中国的海外煤电投资在过去几年持续下降，可再生能源投资则不断增加。2020年，包括太阳能、风能与水电在内的中国海外可再生能源投资，占海外能源总投资的比例已达57%，远超煤电投资。
对于中方做出的承诺，联合国秘书长古特雷斯表示，逐步在电力行业中淘汰煤炭是实现将升温幅度控制在1.5℃之内的最重要一步。美国总统气候问题特使克里称，他对中国将不再在国外建造燃煤电厂感到“非常高兴”。
同一天，美国也宣布了新的气候融资政策。美国总统乔拜登承诺将美国对较贫穷国家的财政援助增加一倍，即每年约114亿美元。不过，这一计划能否在国会顺利通过还有很大的不确定性。
Greater Bay Area, Greater Future
新使命，大未来
China's Ministry of Finance will issue 8 billion yuan worth of RMB-denominated sovereign bonds in Hong Kong's offshore market today, as this year’s first batch RMB sovereign bonds totaling 20 billion yuan this year.
昨日，财政部表示今年财政部将在香港特别行政区分三期发行200亿元人民币国债。今天将发行首期80亿元人民币国债。
Update on COVID-19
疫情简报
The Chinese mainland reported 28 new local cases yesterday, 20 from Fujian province and 8 from Harbin, the capital of Heilongjiang Province.
全国昨日新增28例本土确诊病例（福建20例，其中厦门市17例、莆田市3例；黑龙江8例，均在哈尔滨市）。
Next on industry and company news
产经消息及公司新闻
China is expected to see 8.1 percent economic growth this year, as solid export performance and increased fiscal support in the second half will offset a more protracted recovery in household consumption, said economists at the Asian Development Bank.
亚洲开发银行最新发布的一份报告显示，尽管居民消费复苏需要更长的时间，但中国下半年稳健的出口和加大的财政支持力度将抵消其影响，预计2021年中国经济增速为8.1%。
Stock of China's second largest developer Evergrande Group once shot up 30 percent after its announcement on Wednesday that it would make an interest payment for an onshore bond totaling 232 million yuan ($35.88 million), which was due on Thursday. The group’s shares went up 17.62 percent in closing today.
9月22日，恒大地产集团发布公告，该公司面向专业投资者公开发行的公司债“20恒大04”，将于9月23日支付2020年9月23日至2021年9月22日期间的利息。上述债券总规模40亿元，在计息期内票面利率为5.8%，折合利息约为2.32亿元。中国恒大一度狂飚30%，最终收报2.67港元，涨17.62%。
Luckin Coffee’s shares rose 7.3 percent on Wednesday after the Chinese coffee store chain, which was fined $180 million by US regulators last December for faking sales, said it had settled a $187 million class action lawsuit and returned to normal financial reporting.
9月21日，瑞幸咖啡连续发布三则公告，宣布公司在重组计划和资本市场披露方面达到多项“里程碑式”进展，表示公司与美国集体诉讼的原告代表签署了1.875亿美元的和解意向书。公告发布后，9月21日，瑞幸咖啡美股涨幅3.44%，9月22日又涨7.3%。
Parts of southern Guangdong province have increased power rationing to factories as a severe shortfall in the supply of coal has led to a surge in the cost of electricity generation and a resulting lack of power. (Cr. Yicai)
由于煤炭供应短缺，导致电力供应紧张，广东启动新一轮限电，部分地区高耗能企业限电一周。
Switching gears to the financial sector
金融市场要闻
The China Banking and Insurance Regulatory Commission (CBIRC) issued a revision Wednesday to the guidelines on supervision and assessment of commercial banks. The new rules reduce the weight of profitability and add corporate governance and data management into factors for deciding what category of supervision an institution will be subject to.
昨日银保监会发布《商业银行监管评级办法》。这是该规定自2014年来的首次修改。新方法降低了盈利能力的权重，将公司治理和数据治理纳入评级因素。
Wrapping up with a quick look at the stock market
最后来看股市收盘情况
Chinese stocks closed higher on Thursday with the benchmark Shanghai Composite Index closed 0.38 percent higher at 3642 points. The Shenzhen Component Index closed 0.77 percent up at 14387 points. The Hang Seng Index closed 1.19 percent higher at 24510 points.
周四A股股市集体收涨，截至收盘，沪指涨0.38%，报收3642点；深成指涨0.77%，报收14387点。港股恒生指数收涨1.19%，报收24510点。
Biz Word of the Day
财经词汇划重点
Sovereign bonds are debt securities issued by a government to raise capital for spending needs, such as on government programs and paying down old debt.
主权债券是指政府财政部门或其他代理机构为筹集资金，以政府名义发行的债权，主要包括国库券和公债两大类。