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
-CPC leadership holds meeting on 2022 economic work, stressing stability and more targeted fiscal policies;
-The central bank decided to cut RRR for the second time this year to boost economy.
Here’s what you need to know about China in the past 24 hours
中国经济要闻
The key for next year’s economy is stability.
China will strive to stabilise the fundamentals of its macro economy next year, with steps to make its fiscal policies more efficient, targeted and sustainable, and promote the steady recovery of consumer spending, China’s core leadership — the CPC Central Committee said on Monday.
The nation will expedite steps to foster a new development paradigm, deepen reform and opening-up across the board, coordinate efforts to fight the COVID-19 pandemic and sustain socioeconomic growth and maintain its major economic indicators within a proper range, policymakers said.
China must ensure that its macro policies are prudent and effective to maintain liquidity, boost domestic demand, and energise market players. The committee also pledged to move forward with the development of affordable housing projects and make sure social policies meet basic living needs of the public.
6大政策托底！中央政治局会议明确2022年经济工作“稳”字当头。
12月6日，中共中央政治局召开会议，其中对2022年经济工作进行了分析研究。
会议要求，明年经济工作要稳字当头、稳中求进。要坚持稳中求进工作总基调，完整、准确、全面贯彻新发展理念，加快构建新发展格局，全面深化改革开放，坚持创新驱动发展，推动高质量发展，坚持以供给侧结构性改革为主线，统筹疫情防控和经济社会发展，统筹发展和安全，继续做好“六稳”、“六保”工作，持续改善民生，着力稳定宏观经济大盘，保持经济运行在合理区间，保持社会大局稳定，迎接党的二十大胜利召开。
会议还从宏观政策、微观政策、结构政策、科技政策、改革开放政策和社会政策六大方面进行定调。
The 2021 Imperial Springs International Forum held in Guangzhou came to a close last night. President Xi Jinping delivered a speech via video at the opening ceremony on Sunday and reiterated that China remains committed to safeguarding multilateralism, saying the nation will firmly stand by the core values and basic principles of multilateralism, uphold fairness and justice and promote development through cooperation.
The world is at a new crossroads, and the international community needs more than ever to build consensus, strengthen confidence and promote common development, Chinese Vice President Wang Qishan made the remarks when addressing the opening ceremony.
With the theme "Multilateralism 2.0: Global Cooperation in the Post-Pandemic Era”, the forum is a high-end platform for in-depth exchanges between China and the rest of the world. Over 150 guests from political, academic and business sectors attended the event, including several former world leaders and former UN Secretary-General Ban Ki Moon.
12月6日，以“多边主义2.0版——后疫情时代的全球合作”为主题的“2021从都国际论坛”在广州从都国际会议中心圆满闭幕。
12月5日，国家主席习近平在开幕式上发表视频致辞，强调当今世界人类正经历罕见的多重危机。面对层出不穷的全球性问题和挑战，我们应该坚持开放包容、协商合作，坚持和维护多边主义，积极推动构建人类命运共同体。
国家副主席王岐山在开幕式上致辞表示，当前，世界正处在一个新的十字路口，国际社会比以往任何时候都更需要凝聚共识，坚定信心，促进共同发展。今年已经是王岐山第三次亲身出席该论坛。
联合国秘书长古特雷斯、世界领袖联盟主席达尼洛·图尔克发表视频致辞。部分国家前政要、国际组织前负责人、有关国家驻华使节和外交官、国际组织驻华代表、中外工商界人士、专家学者等150余位嘉宾以线上或线下方式出席本次论坛。在两天的会期里，与会嘉宾对于多边主义在后疫情时代全球合作中的重要作用达成了广泛共识，并在闭幕式上发布《从都宣言》。
Greater Bay Area, Greater Future
新使命，大未来
Director of the State Council's Hong Kong and Macau Affairs Office Xia Baolong called upon Hong Kong citizens to vote in the upcoming Legislative Council election, saying the revamped election is better than previous ones in four aspects: more broadly representative, more politically inclusive, more evenly balanced and more competitive. The 2021 LegCo election is scheduled to take place on December 19.
全国政协副主席、国务院港澳事务办公室主任夏宝龙6日讲话表示，香港特区第七届立法会选举活动的开展和社会各界的反应，充分彰显了新选举制度的广泛代表性、政治包容性、均衡参与性、公平竞争性。2021年立法会换届选举将于12月19日举行，是香港完善选举制度之后的首次立法会选举。
A book on Hong Kong's participation in the nation's reform and opening-up was published on Monday, detailing the SAR's contributions and gains in the historic move from 1978 onward.
6日，《香港参与国家改革开放志》出版典礼暨《粤港澳大湾区志》合作备忘录签署仪式在香港举行。《香港参与国家改革开放志》是首本以香港角度讲述香港在国家改革开放期间事迹的专著，全卷共上下两册，涵盖经济、金融、文化、社会四大范畴。
Update on COVID-19
疫情简报
The Chinese mainland on Monday reported 60 new local cases, including 55 from Inner Mongolia.
全国昨日新增本土病例60例（内蒙古55例，均在呼伦贝尔市；黑龙江2例，均在哈尔滨市；云南2例，均在德宏傣族景颇族自治州；浙江1例，在宁波市）。
Next on industry and company news
产经消息及公司新闻
China's total imports and exports expanded 22 percent year-on-year to 35.39 trillion yuan ($5.55 trillion) in the first 11 months of 2021, data from the General Administration of Customs showed Tuesday. The Jan-Nov figure has surpassed the total for all of last year, yet export growth slowed in November.
11月进口规模创新高：海关总署7日发布数据显示，11月我国外贸继续较快增长态势。我国进出口总值3.72万亿元，同比增长20.5%。其中，进口规模创今年以来新高，出口增速较上月有所回落，但仍保持高位运行。
Muyuan Foods, China's top hog producer, tumbled by 5.12 percent today after more than 30 of its subsidiaries defaulted on commercial paper. Muyuan’s stock price was erased by 60 percent from February as pork price in China continues to drop this year.
千亿”猪茅”持续逾期：12月6日，牧原股份发布公告称，2021年8月1日-11月30日，共有32家子公司出现付款逾期，累计逾期金额为6947.14万元。牧原股份今天收跌4.12，报48.97元，对比2月份高位股价已腰斩。
China is reported to be pressing ahead with plans to further consolidate rare earth production, with a massive new state owned mammoth expected be set up this month. Three major firms will merge their assets to create the new “China Rare Earth Group.” China is believed to control up to 90 percent of global supplies of rare earth metals.
中国稀土“巨无霸”即将诞生? 12月6日，有媒体报道称，中国已批准成立世界最大的稀土公司“中国稀土集团”，最快将于本月在资源丰富的江西省成立。该公司是通过合并多间国有企业的稀土资产成立，包括有中国五矿集团、中国铝业及赣州稀土集团。
Switching gears to the financial sector
金融市场要闻
China’s central bank has announced its second reserve ratio cut this year to shore up the economy, as the nation’s leaders prioritise stability ahead of a key political meeting next year. The People’s Bank of China announced on Monday that it will cut the reserve requirement ratio (RRR) for major commercial banks by 0.5 percent, releasing 1.2 trillion yuan (US$188 billion) worth of long-term liquidity into the interbank system on December 15.
全面降准落地：12月6日，中国人民银行宣布于2021年12月15日下调金融机构存款准备金率0.5个百分点（不含已执行5%存款准备金率的金融机构），共计释放长期资金约1.2万亿元。本次下调后，金融机构加权平均存款准备金率为8.4%。
Wrapping up with a quick look at the stock market
最后来看股市收盘情况
Chinese stocks closed mixed on Tuesday as booming sectors like lithium battery and semiconductor lost momentum. The Shanghai Composite rebounded 0.16 percent, while the Shenzhen Component shed 0.38 percent. The Hang Seng Index gained 2.73 percent boosted by a 4.21-percent surge in TECH Index.
周二A股股市走势分化，沪指回涨0.16%，深成指跌0.38%。锂电、半导体等高景气赛道板块集体下挫。港股恒生指数收涨2.72%，恒生科技指数大涨4.21%。
Biz Word of the Day
财经词汇划重点
In international relations, multilateralism refers to an alliance of multiple countries pursuing a common goal, usually between groups of three or more states. It serves to bind powerful nations, discourage unilateralism, and gives small powers a voice and influence that they could not otherwise exercise.
多边主义现指三个或三个以上国家之间发生联系的方式。国内学者认为，多边主义是指世界各国在国际事务应相互尊重、平等协商、加强合作、反对一国一意孤行，无礼对待别国。
