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 will set up a property tax pilot plan, taking small steps after years of dithering to tame home prices;
-Top economic planner said it’s looking into alleged coal price manipulation by index providers.
Here’s what you need to know about China in the past 24 hours
中国经济要闻
China is sticking to its gun in regulating the housing market.
Top legislature will enact a property tax in selected regions across the country, rolling out the pilot plan as part of a wider “common prosperity” program to enhance housing affordability and tame runaway prices.
The State Council is authorised to select the first regions and the timing for implementing the dutiable tariff on land, as well as owners of residential and commercial real estate.
Property tax should be levied on all types of residential and non-residential property in pilot areas, while lawfully-owned rural homesteads and houses built on them are excluded, the decision said, adding that taxpayers are the holders of land-use rights and house owners.
The plan has prompted owners of multiple houses increasingly eager to sell their assets as stricter property tax policies coming the way, citing an insider at a housing rental agency.
Yet industry insiders said that the pilot program is a step toward healthier growth and the goal of common prosperity.
Ever since 2011, China has tried out levying the taxes on high-end private residential properties in Shanghai and Chongqing. Since then there has been much discussion of expanding the taxes nationwide, though there has been little progress to date, as many local governments are reluctant to push for such a tax out of worries that the property taxation will cause property values to drop, hurting a crucial source of local governments' revenues.
The property tax pilot program looks likely to disrupt participation in real estate markets in the short term and produce economic dividends in the long term. But analysts said the rewards won’t be enough for the policy to solve local government budgetary problems all in one go.
房产税改革试点正式落地！离老百姓翘首期盼的“房住不炒”又近了一大步，炒房者再也坐不住了。
10月23日，第十三届全国人民代表大会常务委员会第三十一次会议决定：授权国务院在部分地区开展房地产税改革试点工作。试点地区的房地产税征税对象为居住用和非居住用等各类房地产，不包括依法拥有的农村宅基地及其上住宅。土地使用权人、房屋所有权人为房地产税的纳税人。
经济学家认为，试点计划是迈向更健康增长和共同繁荣目标的一步，不太可能引发房地产市场的重大长期波动。有专家称，《决定》透露出信息是，房地产税是箭在弦上了。而未公布征收方法和税率，则是给相关地区开展试点预留了政策空间。
实际上，炒房者早已坐不住了。有房屋租赁机构内部人士称，随着更严格的房产税政策即将出台，拥有多套房屋的业主对出售房产越发急切。链家平台数据显示，过去三个月中，北京在售二手房增加了超过1万套，广州增加约8000套。
2011年以来，上海、重庆两地已经试点对个人住房征收“房产税”。据报道，此后关于在全国范围内扩大征税的讨论颇多，但进展甚微。因为地方政府担心房产税会导致房地产价值下降，抑制市场对土地的需求，因为卖地是地方政府收入的一个重要来源。但有分析人士指出，房地产税未必能完全弥补地方政府卖地收入减少的缺口。
Update on COVID-19
疫情简报
The Chinese mainland reported 29 new local cases yesterday, including 16 from Inner Mongolia, 6 from Gansu and 3 from Beijing.
全国昨日新增29例本土确诊病例（内蒙古16例，甘肃6例，北京3例，宁夏3例，山东1例）。
Next on industry and company news
产经消息及公司新闻
The National Development and Reform Commission (NDRC) said in a statement yesterday that some index providers had failed to use authentic transaction prices, abused the price inquiry and quotation system, and even issued fake price indexes, resulting in roller-coaster coal prices. The NDRC will summon the providers for talks and demand rectification.
据发改委官微消息，近期，国家发展改革委接到群众举报，反映部分煤炭等能源咨讯机构未使用真实交易价格、滥用询价报价、发布道听途说信息甚至编造发布虚假价格指数、操纵价格指数等，加剧投机炒作，导致煤炭价格完全脱离供求基本面，严重损害了国家和社会公共利益。国家发展改革委价格司会同有关方面成立联合工作组，启动价格指数行为评估和合规性审查。
Nuclear power-related stocks rose across the board after the government unveiled a policy document on peak carbon dioxide emissions and carbon neutrality. Nuclear power equipment supplier Dongfang Electric closed up 1.7 percent today, while China National Nuclear Power gained 1.9 percent.
10月24日，中央发布《中共中央国务院关于完整准确全面贯彻新发展理念做好碳达峰碳中和工作的意见》提出，“积极安全有序发展核电”“积极稳妥推进核电余热供暖”。随后，核电板块出现大涨。今日，A股东方电气涨1.52%，中国核电涨1.91%。
China’s vegetable prices, which have jumped as much as 65.5 percent in the past month after record rainfall and low temperatures affected harvests, will continue to climb, but there will be ample supply during the autumn and winter months, media citing an analyst at the Ministry of Agriculture and Rural Affairs today.
据媒体报道，受暴雨和低温影响导致收成降低，中国的蔬菜价格在过去一个月内上涨了65.5%，并将继续攀升，但在秋冬月份供应充足。
Koolearn Technology, an online education company under New Oriental, announced on Monday that the group will stop off-campus training services for compulsory education on mainland China, completing the termination by the end of November 2021. The company said the move will adversely impact its revenue since K9 business represents 58 to 73 percent of its core K12 business.
10月25日晚上，新东方在线在港交所公告称，将停止经营中国内地义务教育阶段学科类校外培训服务，终止预计于2021年11月末之前生效。公告提到，董事会预计，终止将对集团总营收产生重大不利影响。截至2021年5月31日止两个财政年度，按总营收贡献划分，K9业务占K12教育分部约58%至73%。
Tesla has opened its R&D innovation centre, the first of its kind among the electric car company's overseas facilities, and a giga-factory data centre in Shanghai, Tesla China said on Monday.
25日，特斯拉中国宣布，上海研发创新中心和特斯拉上海超级工厂数据中心正式落成并投入使用。上海研发创新中心是特斯拉首个海外整车研发中心，意味着特斯拉中国本土化进程再进一步。
Switching gears to the financial sector
金融市场要闻
China’s central bank issued 47 types of new standards that cover a wide range of financial activities, aimed at pushing the country’s fast-evolving financial industry onto an orderly growth track, including the first set of criteria for the burgeoning green finance sector.
近日，央行集中发布了47项金融领域的标准，涵盖从金融产品与服务、绿色金融、金融数据、金融安全、支付清算到金融科技和金融监管等各领域。值得注意的是，首次发布两项绿色金融标准，并实现金融强制标准零的突破，意味着中国的金融标准体系更多元。
Wang Jianjun, head of the Shenzhen Stock Exchange, was named deputy chairman of China Securities Regulatory Commission, the country’s top securities regulator, the State Council said yesterday. (Cr. Caixin)
10月25日，国务院发布任免国家工作人员公告，中国证监会迎来重要人事变动。国务院任命王建军为中国证监会副主席，同时免去阎庆民的中国证监会副主席职务。
Wrapping up with a quick look at the stock market
最后来看股市收盘情况
Chinese stocks closed lower on Wednesday with the benchmark Shanghai Composite Index down 0.34 percent, at 3598 points. The Shenzhen Component Index closed 0.3 percent lower at 14553 points. The Hang Seng Index closed 0.36 percent lower to stand at 26038 points.
周三A股股市集体收跌，截至收盘，沪指跌0.34%，报收3598点；深成指跌0.3%，报收14553点。港股恒生指数收跌0.36%，报收26038点。
Biz Word of the Day
财经词汇划重点
An exchange traded fund (ETF) is a type of security that tracks an index, sector, commodity, or other asset, but which can be purchased or sold on a stock exchange the same way a regular stock can.
交易型开放式指数基金，通常又被称为交易所交易基金，是指像股票一样在证券交易所交易的指数基金，其交易价格、基金份额净值走势与所跟踪的指数基本一致。
