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 yuan hits three-and-a-half year peak on stronger fixing;
-November’s consumer inflation edges up to 2.3%, but factory-gate prices ‘level off’.
Here’s what you need to know about China in the past 24 hours
中国经济要闻
China's yuan advanced to the strongest level since May 2018 amid bets that monetary stimulus will sustain the nation's growth and the new Covid variant will have a limited impact on the global recovery.
The onshore yuan gained as much as 0.3 percent to 6.3451 per dollar, breaching a year-to-date high reached in May. The moves came as the dollar extended this week's losses against global peers on optimism that Omicron will only have a limited impact on the global economy. Traders also became more confident over China's growth after the central bank announced broad monetary easing this week.
The yuan has gained 2.8 percent this year, making it the best performer in Asia, thanks to inflows driven by robust exports and foreign purchases of higher-yielding onshore bonds.
Confidence was further boosted this week when the CPC Politburo meeting concluded with a signal of more easing and a pledge to stabilize the economy in 2022. A lack of aggressive measures from the central bank to stall the advance also stoked bets that the appreciation would be sustained.
Analysts noted that a divergence in monetary policy between the People’s Bank of China and the U.S. Federal Reserve appears to take a backseat in driving exchange rate moves, despite the cut to banks’ reserve requirements announced this week.
12月8日上午，在岸人民币和离岸人民币携手冲高，双双突破今年5月份高点，创出2018年5月以来的新高。
在岸人民币对美元即期汇率8日高开高走，截至16时30分，收盘报6.3535元，较前收盘价升值143基点。在夜间交易时段，人民币汇率进一步走高，曾一度升破6.35元，创2018年5月以来新高。离岸人民币汇率于盘中升破6.35元，创逾三年新高。
银行外汇交易员分析，当前人民币汇率在中美货币政策分化情况下不跌反涨，主要受到三大因素影响，一是中国外贸高景气度延续，令年底前企业结汇需求持续旺盛，二是近日北向资金流入A股的日均资金接近百亿，加之海外资本大举加仓境内债券，令人民币需求持续增加；三是奥密克戎新疫情令全球经济再遇波折之际，中国良好的防疫措施与经济稳健增长基本面，令海外投资机构纷纷调高人民币汇率估值。
今年以来，人民币汇率在波动中保持升值势头，4月至5月及10月至今先后上演两轮较明显的升值行情。统计显示，截至8日16时30分，今年在岸人民币对美元即期汇率累计升值约2.8%，同期美元指数上涨约7%。在美元走强，促使多数非美元货币贬值的情况下，人民币汇率逆势走出独立行情。
12月6日，央行宣布决定于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）。分析人士认为，此次降准清晰地传递了货币政策转松的迹象，以及政府稳定市场预期和经济增长的意愿。
China’s consumer prices rose last month largely due to the price of fresh vegetables increasing by over 30 percent, but factory-gate inflation eased, official data released on Thursday showed.
The official consumer price index (CPI) rose by 2.3 percent in November from a year earlier, up from a rise of 1.5 percent in October, the National Bureau of Statistics (NBS) said. The increase was due to “combined influence of seasonal rising demands, increasing costs and sporadic coronavirus outbreaks”, according to a senior official with the NBS. The price of fresh vegetables hiked 30.6 percent last month.
The producer price index (PPI), which measures costs for goods at the factory gate, went up 12.9 percent year on year in November, shrinking from the 13.5 percent year-on-year increase registered in October. The NBS said the slower expansion of PPI was due to the implementation of policies to ensure supply and stabilise prices of energy and raw materials including coal and metal.
国家统计局9日发布数据显示，2021年11月份居民消费价格指数（CPI）同比上涨2.3%，涨幅较10月扩大0.8个百分点，创2020年9月以来新高。国家统计局城市司高级统计师董莉娟表示，具体看，食品价格同比由上月下降2.4%转为上涨1.6%。食品中，猪肉价格下降32.7%，降幅比上月收窄；鲜菜价格上涨30.6%，涨幅比上月扩大。
而随着保供稳价政策落实力度不断加大，煤炭、金属等能源和原材料价格快速上涨势头初步得到遏制，11月工业生产者价格指数（PPI）同比上涨12.9%，涨幅较10月回落0.6个百分点。
疫情简报
The Chinese mainland on Wednesday reported 60 new local cases, including 42 from Inner Mongolia and 12 from Zhejiang province.
全国昨日新增本土病例60例（内蒙古42例，均在呼伦贝尔市；浙江12例，其中绍兴市9例、宁波市3例；黑龙江4例，均在哈尔滨市；江苏1例，在南京市；云南1例，在德宏傣族景颇族自治州）。
产经消息及公司新闻
Media reports that Hong Kong-listed Kuaishou has started to let go of employees who received low scores in performance reviews. Earlier, the short video giant reported a net loss of 7.1 billion yuan in the third quarter, bringing the total net loss of the year to 21.9 billion yuan.
快手被曝年底大裁员：有消息称，快手在北京、上海、广州、深圳四地的商业化团队将在年底前完成转型，其中部分业务条线将被取消。快手12月初已开始劝退低绩效员工，更有爆料称裁员幅度达30%。快手2021年最新业绩报告显示，三季度快手营收204.9亿元，同比增长33.4%；净亏损70.9亿元，经调整后净亏损达到了48.22亿元，同比暴增400%。
Chinese e-commerce giant Alibaba Group tapped into the Metaverse trend and set up a subsidiary whose future business will be related to the concept of the Metaverse. Its investment arm Hangzhou Ali Venture Capital’s wholly-owned unit Yuanjing Shengsheng Beijing Technology was established on Dec. 6.
阿里进军元宇宙：阿里近日成立全资子公司“元境生生”，内部人士透露，该公司未来业务与元宇宙相关。元境生生（北京）科技有限公司于12月6日成立，由杭州阿里创业投资有限公司100%出资，注册资本1000万人民币。
HNA Group has officially handed over control of its core airline operations to Liaoning Fangda Group Industrial, marking the end of an era for the Chinese conglomerate as it continues to restructure one of the country’s biggest piles of corporate debt.
辽宁方大正式入主海航：海航集团12月8日发布消息称，根据海航集团航空主业板块引战工作安排，自2021年12月8日起，航空主业引战企业的经营管理实际控制权利正式移交至战略投资者辽宁方大集团实业有限公司。根据重整计划，辽宁方大将向海航航空主业注资380亿元，同时还将为解决海航集团部分债务处理问题提供30亿元资金。
金融市场要闻
China's foreign exchange reserves rose to $3.2224 trillion at the end of November, up $4.8 billion from a month earlier, official data showed Tuesday. It rebounded for the second consecutive month and remained above $3.2 trillion for the seventh consecutive month.
外汇储备“两连升”：中国国家外汇管理局7日公布数据显示，截至2021年11月末，中国外汇储备规模为32224亿美元，较10月末上升48亿美元，升幅为0.15%。
最后来看股市收盘情况
Chinese stocks continued to rise on Thursday with sectors including home furnishing and baijiu recorded gains. The Shanghai Composite ended up 0.98 percent, and the Shenzhen Component jumped 1.23 percent. The Hang Seng Index went 1.08 percent higher, buoyed by educational and electric utility stocks.
周四A股股市继续上涨，沪指涨0.98%，深成指涨1.23%。板块方面，家具板块全天大涨，白酒等板块涨幅居前。港股恒生指数收涨1.08%，教育股集体拉升，电力股持续走强。
Biz Word of the Day
财经词汇划重点
The onshore exchange rate of CNY is a daily reference rate published by the central bank.
The offshore exchange rate of CNY changes based on the market.
在岸价是境内人民币换汇汇率，参考汇率由央行发布。
离岸价是境外人民币换汇汇率，参考汇率受市场活动影响。
