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
-The high-profile Central Economic Work Conference set stability as 2022’s economic priority, while acknowledging “triple pressures”;
-China issues new plan to bolster cold chain logistics against COVID-19 risks.
Here’s what you need to know about China in the past 24 hours
中国经济要闻
China's top leaders have mapped out priorities for next year's economic work as the annual Central Economic Work Conference concluded in Beijing Friday, highlighting efforts to maintain stability while pursuing progress.
In a speech at the conference, Chinese President Xi Jinping reviewed the country’s economy in 2021, analysed the current economic situation and arranged next year's economic priorities.
China’s economic development is facing “triple pressure” from demand contraction, supply shocks and weakening expectations, and the external environment is becoming increasingly complicated and uncertain, according to a statement released after the meeting.
The statement also said that supportive policies should be implemented ahead of schedule, and all regions and departments should actively roll out policies conducive to economic stability.
When elaborating on outcomes of the top tone-setting meeting, a senior economic official said, “the most important word of the conference is ‘stability,’ which means that various policy measures will be taken to boost demand, support market entities and ensure stable growth in 2022,” Han Wenxiu, deputy director in charge of routine work of the Office of the Commission for Financial and Economic Affairs of the CPC Central Committee.
"All sides should actively introduce policies that can help stabilize the economy, and be cautious in rolling out measures that will have a contractionary effect," Han said during a seminar explaining the conference's results.
Experts believe that China will likely set 5 percent as the bottom line for GDP growth for 2022.
中央经济工作会议12月8日至10日在北京举行。习近平在会上发表重要讲话，总结2021年经济工作，分析当前经济形势，部署2022年经济工作。李克强在讲话中对明年经济工作作出具体部署，并作了总结讲话。
会议要求，明年经济工作要稳字当头、稳中求进，各地区各部门要担负起稳定宏观经济的责任，各方面要积极推出有利于经济稳定的政策，政策发力适当靠前。
会议认为，今年是党和国家历史上具有里程碑意义的一年。我国沉着应对百年变局和世纪疫情，构建新发展格局迈出新步伐，高质量发展取得新成效，实现了“十四五”良好开局。我国经济发展和疫情防控保持全球领先地位，国家战略科技力量加快壮大，产业链韧性得到提升，改革开放向纵深推进，民生保障有力有效，生态文明建设持续推进。这些成绩的取得，是以习近平同志为核心的党中央坚强领导的结果，是全党全国各族人民勠力同心、艰苦奋斗的结果。
会议指出，在充分肯定成绩的同时，必须看到我国经济发展面临需求收缩、供给冲击、预期转弱三重压力。世纪疫情冲击下，百年变局加速演进，外部环境更趋复杂严峻和不确定。我们既要正视困难，又要坚定信心。我国经济韧性强，长期向好的基本面不会改变。无论国际风云如何变幻，我们都要坚定不移做好自己的事情，不断做强经济基础，增强科技创新能力，坚持多边主义，主动对标高标准国际经贸规则，以高水平开放促进深层次改革、推动高质量发展。
在12月11日召开的“2021-2022中国经济年会”上，中央财经委员会办公室副主任韩文秀对明年经济工作会议进行了分析和解读，认为明年要“稳字当头，稳中求进”。
他表示，各方要积极推出有利于经济稳定的政策，慎重出台有收缩效应的政策，政策发力要适当靠前。 提高政策的针对性、操作性、管用性，抵御经济下行压力，坚持“六稳”稳得牢，“六保”保得住。要实施好扩大内需战略，适度超前进行基础设施建设，持续激发市场主体活力。
我国经济发展面临需求收缩、供给冲击、预期转弱的三重压力，消费和投资增长势头减弱，供应链受阻，企业生产面临缺芯、缺柜、缺工等生产要素短缺问题。
“经济社会发展是一个相互关联的复杂系统，要防止出现合成谬误，不把分兵把关变成只顾自己不及其余，避免局部合理政策叠加后造成负面效应。”韩文秀强调，要防止分解谬误，避免把整体任务简单一分了之，更不能层层加码，导致基层难以承受。
Update on COVID-19
疫情简报
The Chinese mainland on Sunday reported 80 new local cases, including 74 from Zhejiang province.
12月12日，全国新增本土病例80例(浙江74例)。
Next on industry and company news
产经消息及公司新闻
China's State Council on Sunday issued a development plan for the cold-chain logistics sector as part of the country's 14th Five-Year-Plan (2021-25), elevating the logistics network into a pillar position in supporting economic and social development, while highlighting timely urgent issues such as imported COVID-19 risks amid the ongoing global pandemic.
“十四五”冷链物流规划出炉：12月12日，国务院印发《“十四五”冷链物流发展规划》。《规划》明确，到2025年，基本建成符合我国国情和产业结构特点、适应经济社会发展需要的冷链物流体系，调节农产品跨季节供需、支撑冷链产品跨区域流通的能力和效率显著提高，对国民经济和社会发展的支撑保障作用显著增强。
Media reports that Beijing has approved five non-profit tutoring organization for primary school and middle school students today. Earlier, Beijing education authorities designed an online platform to provide free tutoring as China’s capital tests government-funded supplemental education amid a sweeping national overhaul of the private tutoring industry.
北京已审批5家中小学学科培训非营利机构：据中国社会组织政务服务平台，北京市已审批5家中小学学科培训非营利机构，分别为北京希望在线线上学科培训学校、北京猿辅导线上学科培训学校、北京志道线上学科培训学校、北京作业帮线上学科培训学校、北京乐学东方线上学科培训学校。
Chinese artificial intelligence start-up SenseTime Group postponed its Hong Kong IPO on Monday after being placed on a U.S. investment blacklist. Sources say the firm will remain committed to completing the offering and expect it to finish by year end. SenseTime had planned to raise up to $767 million, a figure that had already been trimmed earlier this year from a $2 billion target.
商汤最快年底完成IPO：12月13日最新消息，商汤集团仍将坚定推进香港IPO，最快年底前完成。13日中午，商汤集团在港交所公告，董事会宣布，全球发售及上市将会延迟，且公司预期将刊发补充招股章程，补充招股章程修订及补充招股章程，将载有经更新上市时间表、香港发售股份的相关申请程序及其他相关资料。
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 Monday with MetaVerse concept stocks and the logistics sector surged. The Shanghai Composite ended 0.4 percent up, and the Shenzhen Component closed 0.67 percent higher. The Hang Seng Index lost 0.17 percent with mainland real estate shares tumbled.
周一A股普遍上行。沪指涨0.4%，深成指涨0.67%。元宇宙概念股大涨，快递物流板块在利好刺激下走强。港股恒生指数收跌0.17%，内房股重挫。
Biz Word of the Day
财经词汇划重点
A cold chain is a low temperature-controlled supply chain. It is used to preserve and to extend and ensure the shelf life of products, such as fresh agricultural produce, seafood, frozen food, photographic film, chemicals, and pharmaceutical products.
冷链是指对某些食品原料、经过加工的食品或半成品、特殊的生物制品和药品，使其各个环节始终处于产品所必需的特定低温环境下，减少损耗，防止污染和变质的特殊供应链系统。
