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
-Central bank governor vows to stabilise economy in 2022 and reassures China’s financial risks are “convergent and controllable.”
-Xiang Hu Bao, the country's largest health-care mutual aid platform shuts down.
Here’s what you need to know about China in the past 24 hours
中国经济要闻
China's financial system is running stable, financial risks under control, and expectations for the property market have improved with structural adjustment, Yi Gang, chief of China's central bank, said, while reassuring investors and refuting foreign media's exaggeration over Evergrande in the recent days.
During an interview with state media on Tuesday, Yi said the PBOC will promote steady growth in loans and money supply and will ramp up targeted financial support for small and micro enterprises, technological innovation and green development next year.
According to Yi, the average interest rate of corporate loans has dropped to a record low of below 5 percent this year, and the PBOC will promote further declines in comprehensive corporate financing costs in 2022 while keeping them at an overall stable level.
In terms of the property sector, Yi mentioned that some individual real-estate companies were exposed to risks due to their own mismanagement. Authorities have actively taken measures to resolve risks in a stable and orderly manner, while fulfilling financing needs of residents and real estate companies.
During the Central Economic Work Conference held in mid-December, Chinese policymakers called for efforts to explore new development models for the industry, including the development of a long-term rental housing market and promoting the construction of affordable housing.
While pledging more support to the real economy to stabilise the country's economy, Yi also stressed the importance of stability in China's financial system for the next year, calling for a stable and proactive fiscal policy to keep its monetary policy flexible and appropriate and liquidity ample.
Moreover, the central bank will issue the first batch of low-cost loans to financing institutions by the end of this year to enable carbon emissions cuts, as a part of PBOC's task to support carbon neutrality. The move comes after the central bank announced new green tools in November, and is in line with China's “30-60” emission goals.
12月27日召开的2022年中国人民银行工作会议提出，要切实担负起稳定宏观经济的责任，主动推出有利于经济稳定的货币金融政策。
有利于经济稳定的货币金融政策有哪些？12月28日，央行行长易纲接受新华社记者采访时表示，2022年之所以强调“稳”，是基于当前的国内外形势，并表示将进一步增强金融服务实体经济的能力，具体来说，主要体现为三个“稳”：
一是货币信贷总量稳定增长。保持货币供应量和社会融资规模增速同名义经济增速基本匹配。
二是金融结构稳步优化。今年以来，普惠小微贷款已经支持超过4200万户小微经营主体。下一步，人民银行将精准施策，引导金融机构加大对实体经济特别是小微企业、科技创新、绿色发展的支持，支持高质量发展。
三是综合融资成本稳中有降。今年企业贷款平均利率已经在5%以下，为统计以来新低。下一步，人民银行将完善市场化利率形成和传导机制，发挥贷款市场报价利率改革效能，推动企业综合融资成本稳中有降。
为助力实现碳达峰碳中和目标，央行已于11月推出了两项专项工具。易纲透露，预计今年年底之前将向金融机构发放第一批碳减排支持工具和支持煤炭清洁高效利用专项再贷款。
在谈到当前的金融风险时，易纲表示，当前我国金融体系运行总体平稳，金融风险整体收敛、总体可控，其中，宏观杠杆率持续上升势头得到有效遏制，房地产市场预期正在逐步改善。
Update on COVID-19
疫情简报
Mainland China reported 152 domestic cases on Tuesday, with 151 in Xi’an. The tally of the city’s latest outbreak has reached 962 as of the early hours of Wednesday. Starting yesterday, authorities ordered the three most hard-hit areas in Xi'an to carry out district-wide nucleic acid testings on a daily basis.
12月28日0至24时，全国新增本土病例152例（陕西151例，均在西安市；江苏1例，在南京市）。从12月9日0时到12月28日24时，本轮西安全市累计报告本土确诊病例962例。西安雁塔区、长安区、高新区从12月28日开始，每天开展一次全区核酸筛查。
Next on industry and company news
产经消息及公司新闻
Ant Group said it will shutter its “mutual aid” health-care platform Xiang Hu Bao following the closure of rival platforms run by other internet giants including Meituan and Waterdrop amid China’s tightened regulations for online insurance. Xiang Hu Bao, a dominant player in the emerging sector, ceased operations as of midnight Tuesday, and existing members will no longer bear claim settlement costs, the company said late Tuesday.
相互宝关停：12月28日，相互宝发布公告称，将于2022年1月28日24时停止运行。自公告之日起，现有相互宝成员不再参与互助分摊，用户可根据需求自主选择全新保障方案。2021年至今，包括美团互助、腾讯投资的轻松互助和水滴互助、360互助、小米互助以及相互宝在内，至少已有10家互助平台宣布关停。
SenseTime Group's IPO in Hong Kong was oversubscribed five times, as global investors shrugged aside US sanctions to bid for shares in one of the world's biggest artificial intelligence companies. Shares of the company will trade for the first time on Thursday at the price of HK$3.85, raising HK$5.55 billion and marking Hong Kong’s biggest IPO since September.
商汤定价每股3.85港元：29日，商汤发布公告，商汤香港IPO每股定价3.85港元，将收取的全球发售所得款项净额估计约为55.52亿港元。据悉，商汤合共接获3.6万份有效申请，认购合共7.78亿股香港发售股份，一手中签率60%，超额认购约5.18倍。
Chinese educational giant New Oriental launched a live commerce platform as a part of the company’s plan to undergo a transformation under the “double reduction policy”. The firm’s founder Yu Minhong joined its first live-streaming on Tuesday night to sell agricultural products, attracting more than 150 thousand views and raking in nearly 600 thousand yuan.
俞敏洪直播带货：28日晚，俞敏洪在抖音开启了新东方的首场直播助农活动，涉及米面粮油、生鲜水果、年货礼盒等。数据显示，在当晚的整场直播中，“东方甄选”共上架商品47件，销售额为58.9万元，观看人数15.5万。
China Huarong Asset Management agreed to sell a 70 percent stake in its consumer finance unit to Bank of Ningbo for 1.09 billion yuan, the state-owned bad asset manager said late Monday. The deal is part of Huarong’s efforts to divest assets and focus on its core business as the conglomerate revamps its sprawling businesses after reaching the verge of collapse.
华融消金牌照花落城商行：27日，中国华融发布公告称，该公司与受让方宁波银行签订《金融企业非上市国有产权交易合同》，拟以10.91亿元向对方转让华融消费金融70%股权。
China will scrap its ownership cap on joint ventures (JV) producing passenger vehicles from Jan.1, clearing the last major obstacle for global carmakers who want to set up a wholly-owned subsidiary in the world’s largest auto market, according to the 2021 version of a negative list issued on Monday.
乘用车制造外资股比限制取消：国家发展改革委、商务部27日发布的《外商投资准入特别管理措施（负面清单）（2021年版）》，取消乘用车制造外资股比限制以及同一家外商可在国内建立两家及两家以下生产同类整车产品的合资企业的限制。至此，1994年发布的《汽车产业政策》提出的“外资企业持股比例50%的上限”将成为历史。
Wrapping up with a quick look at the stock market
最后来看股市收盘情况
Chinese stocks fell on Wednesday as consumer staples including baijiu and beverages slumped. The Shanghai Composite lost 0.9 percent, and the Shenzhen Component shed 1.24 percent. The Hang Seng Index finished 0.83 percent lower, dragged by a 1.75-percent loss in TECH Index.
周三A股继续走低，沪指收跌0.91%，深成指跌1.24%。白酒、饮料制造等指数走弱。港股恒生指数跌0.83%，科技指数再下挫1.75%，大型科技股集体走低。
Biz Word of the Day
财经词汇划重点
A joint venture (JV) is a business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task. This task can be a new project or any other business activity.
合资企业，一般定义为由两家以上公司共同投入资本成立，分别拥有部分股权，并共同分享利润、支出、风险及对该公司的控制权。
