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
-4th CIIE, which kicks off tonight, eyes bigger harvest and further opening-up;
-Tencent unveils three computer chips of its own design.
中国经济要闻
After the resounding success of the first three editions, the fourth China International Import Expo (CIIE) is set to further China's mission of opening-up to the world, making its due contributions in paving a path towards a shared future for all. Scheduled from November 5 to 10 in Shanghai, this year's expo is bigger than the previous ones in many ways.
It is expected to attract nearly 3,000 business exhibitors from 127 countries and regions, with 58 countries and three international organizations participating in the country exhibition. At the same time, over 80 percent of Fortune Global 500 and industrial leaders who participated in the fair last year will return for the fourth year due to the fruitful achievements they made.
President Xi Jinping will deliver a keynote speech at the opening ceremony on Thursday via video link, highlighting the great importance the Chinese government attaches to the event.
As the first dedicated import exhibition globally, the former sessions of the CIIE have yielded fruitful outcomes. Despite the pandemic raging across much of the world last year, the CIIE was held as scheduled and sealed higher deals than ever before, with the intended one-year purchases of goods and services totaling $72.62 billion.
As a country with 1.4 billion people and a middle-income population of over 400 million, the Chinese market has unlimited potential. As China is working to build up the “dual circulation” pattern where domestic and overseas markets reinforce each other, economic interactions between China and the rest of the world will be continuously deepened and expanded.
第四届中国国际进口博览会将于11月5日—10日在上海举办。第四届进博会来自127个国家和地区的近3000家参展商亮相企业展，国别、企业数均超过上届。
作为全球首个以进口为主题的国家级展会，进博会成功举办三年来，溢出效应不断放大。数据显示，从首届进博会达成的578.3亿美元意向成交额，到第二届的711.3亿美元，再到第三届在疫情影响下依然达成726.2亿美元的合作意向，越来越多的外国展商落户长三角，扎根中国。
经过3年发展，进博会联通中国和世界，成为国际采购、投资促进、人文交流、开放合作的四大平台。对正在建设全球消费中心城市的上海来说，进博会也是撬动首店落户的“信心支点”。以进博会为原点，“首店经济”正在吸引越来越多的海外品牌。
中国有着14亿人口，4亿中产人群，其市场潜力无可限量。中国的“双循环”新发展格局，也将持续加深全球企业拥抱中国机遇、加码中国投资的信心。
疫情简报
The Chinese mainland reported 87 new local cases yesterday, including 45 from Heilongjiang and 23 from Hebei.
全国昨日新增87例本土确诊病例（黑龙江45例，河北23例，宁夏4例，江苏3例，河南3例，内蒙古2例，四川2例，甘肃2例，山东1例，重庆1例，青海1例）。
产经消息及公司新闻
China’s micro and small businesses reported their highest revenues in nearly a year in the third quarter, according to a new report by Peking University. Average revenue was 131,000 yuan in the September quarter. The micro and small operators’ confidence index also remained in positive territory for a third quarter in a row.
11月2日晚，北京大学光华管理学院发布《中国小微经营者调查2021年三季度报告》显示，2021年第3季度，小微经营者平均季度营收达13.1万元，创下近一年来新高，同时信心指数平稳回升，连续3个季度保持在乐观区间，显示出较强的经济韧性。
Tencent unveiled three computer chips of its own design Wednesday, joining a rush by Chinese tech companies to develop in-house integrated circuits in pursuit of a competitive edge amid a global chip shortage. The three new chips are the artificial intelligence chip Zixiao, a video transcoding device Canghai, and network interface controller Xuanling.
11月3日，腾讯首次正式披露芯片研发进展。腾讯高级执行副总裁汤道生透露，腾讯有着长期的芯片研发规划和投入，目前在三个方向上已有实质性进展，分别为针对AI计算的紫霄，用于视频处理的沧海以及面向高性能网络的玄灵。
Yahoo said it had stopped allowing its services to be accessible from mainland China "in recognition of the increasingly challenging business and legal environment”. Yahoo's move follows that of Microsoft which pulled out LinkedIn from China last month, marking the retreat of the last major U.S.-owned social network in China.
雅虎公司在一份声明中说，从2021年11月1日起，用户无法再从中国大陆使用雅虎的产品与服务，原因是"日益具有挑战性的商业和法律环境"。上个月，微软旗下的领英宣布将关闭在中国的业务，而领英是美国在中国最后一个主要社交媒体。
The supply of raw materials for lithium-ion batteries will be exhausted within the next 5 to 10 years, according to Stanley Whittingham, who invented lithium batteries. The world needs to find alternative materials to make rechargeable power packs as there is not enough lithium left for future production.
在世界顶尖科学家碳大会的未来能源发展论坛上，锂电池发明者、2019年诺贝尔化学奖得主斯坦利·惠廷厄姆教授认为，锂离子电池供应可能在未来几年内面临枯竭，人们需要找到一种新型的材料代替目前的锂电池。
Switching gears to the financial sector
金融市场要闻
China’s economy faces new downward pressures and has to cut taxes and fees to address the problems faced by small and midsize companies, according to Premier Li Keqiang. The economy needs “cross cyclical adjustments” to continue in a proper range, Li said.
国务院总理李克强11月2日主持召开国务院常务会议，提出要切实帮助市场主体纾困解难，面对经济新的下行压力和市场主体新困难，有效实施预调微调。
The governor of the People's Bank of China Yi Gang on Wednesday urged better international coordination to protect personal data, especially in areas like antitrust, data regulation and consumer protection. Yi said the legislative, judicial and administrative bodies in various countries should join hands to promote the standard setting process for personal data protection, given the rapid cross-sector and cross-regional development of fintech.
11月3日，央行行长易纲在2021年香港金融科技周上指出，应借鉴国际经验，加大个人信息保护力度。易纲认为，当前，个人信息流动随着金融科技的发展具有跨界、混业和跨区域的特点，需要各国的立法司法和行政当局在反垄断、数据监管和消费权益保护等方面加强合作和监管协调，尤其是要在个人信息保护的国际标准制定上通力合作。
最后来看股市收盘情况
Chinese stocks closed higher on Thursday with food, automobile, and MetaVerse sectors taking the lead, while coal sector tumbled the most. The Shenzhen Component Index jumped 1.3 percent today, while the benchmark Shanghai Composite Index and the Hang Seng Index gained 0.8 percent.
周四A股股市集体收涨，沪指涨0.81%，深成指上涨1.3%。行业板块多数收涨，食品饮料、汽车板块涨幅居前，元宇宙概念股继续大涨，煤炭板块跌幅居前。港股恒生指数涨0.8%。
Biz Word of the Day
财经词汇划重点
Macro leverage ratio is usually the ratio of debt balance of a certain sector in the macro economy to the GDP. It includes the leverage ratios in the financial, household, non-financial enterprise, and government sectors.
宏观杠杆率是指债务总规模与GDP的比值，宏观杠杆率的上升意味着负债收入比上升，经济主体的债务负担加重，违约风险也随之上升，因此宏观杠杆率通常被作为判断经济风险的重要指标。
