Hi everyone. I’m Stephanie LI.
大家好，我是主持人李莹亮。
重点提要
-China records higher new yuan-denominated loans and accelerating M2 growth for June amid policy supports;
-The NDRC relaxes hukou restrictions in small and medium-size cities.
中国经济要闻
China's new yuan loans came in at 2.81 trillion yuan ($418.89 billion) in June, beating previous market estimates, central bank data showed on Monday, as a flurry of pro-growth measures were rolled out to anchor the economy toward a brisk turnaround.
By the end of June, the M2 broad money supply grew 11.4 percent year-on-year, quickening by 0.3 percentage points from the end of last month or by 2.8 percentage points from the year before.
Furthermore, newly added social financing, a measure of funds the real economy receives from the financial system, increased by 5.17 trillion yuan in June, up 10.8 percent year-on-year. In the first half of 2022, China's social financing increased by 21 trillion yuan, 3.2 trillion yuan more than the same period of the previous year.
Monday's data indicate a better-than-expected month for credit extension as an imperative push for policy implementation in the wake of lackluster economic activity during April is shown to have effectively rebooted the economy.
Market liquidity was relatively ample in the second quarter, in support of rollovers of loans to small- and medium-sized businesses and residential mortgage loans, experts said, together with a newly added national financing guarantee fund of 1 trillion yuan and an 800 billion yuan line of credit from policy banks that have been introduced to stabilise the economy.
June's residential credit recovered to levels on par with the same period of last year, while loans to the business sector expanded by 2.2 trillion yuan during the month, as many regions phased out strict anti-epidemic restrictions, and consumption, notably in the auto sector, saw improvement.
Looking ahead, China's credit extension is anticipated to continue upward despite signs of rising consumer inflation. Economists forecast that the PBOC may continue to boost credit growth via reserve requirement cuts and liquidity injection tools.
中国人民银行11日发布金融统计数据显示，上半年我国人民币贷款增加13.68万亿元，同比多增9192亿元，金融数据整体超出市场预期。
数据显示，6月份我国人民币贷款增加2.81万亿元，同比多增6867亿元。
在货币供应方面，6月末，我国广义货币（M2）余额258.15万亿元，同比增长11.4%，增速分别比上月末和上年同期高0.3个和2.8个百分点。
此外，6月份，社会融资规模增量为5.17万亿元，相较于5月份增加了2.38万亿元。
此次数据表明，随着各项稳增长一揽子政策落地实施，金融机构持续加大对实体经济支持力度，信贷有效需求显著回升，信贷结构明显优化，6月份金融数据整体超出市场预期，预示宏观经济继续复苏向好。
专家表示，二季度多项纾困政策密集落地，对信贷与社会融资增长拉动效果明显。二季度市场流动性相对充裕，支持中小微贷款与居民住房贷款延期、新增1万亿元国家融资担保基金、下发8000亿元政策性银行信贷额度等政策密集落地，对信贷与社会融资合理增长起到了较好的政策效果。
在一揽子政策的推动下，6月份，国家统计局（NBS）发布我国制造业采购经理指数（PMI）回升至50.2%，在连续三个月收缩后重返扩张区间。
6月居民信贷基本恢复至去年同期水平，企业信贷大幅扩张，多地解除封控，消费得到一定改善。其中，6月汽车销售环比增长34%，同比增长21%。
经济学家预计，下半年宏观政策力度不会减弱，信贷需求有望持续恢复。央行将持续加大稳健货币政策实施力度，继续推动信贷增长。
China’s top economic planner issued a plan for new urbanisation on Tuesday, announcing to scrap residency curbs in small and medium-sized cities, as well as to test a pilot system based on regular residency. China will completely lift the restrictions of urban hukou residency in cites with a population of less than 3 million, and fully relax such rules in major cities with 3-5 million residents, said the document released by NDRC. In terms of megacities with over 5 million people, the regulator called for streamlining of the merit-based system and removal of their hukou quotas.
放开放宽除个别超大城市外落户限制：国家发改委11日印发“十四五”新型城镇化实施方案的通知。通知提出，放开放宽除个别超大城市外的落户限制，试行以经常居住地登记户口制度。全面取消城区常住人口300万以下的城市落户限制，确保外地与本地农业转移人口进城落户标准一视同仁。全面放宽城区常住人口300万至500万的I型大城市落户条件。完善城区常住人口500万以上的超大特大城市积分落户政策，精简积分项目，确保社会保险缴纳年限和居住年限分数占主要比例，鼓励取消年度落户名额限制。
The Ministry of Water Resources has raised an unprecedented amount of funds for water conservancy development in the first half of this year. A total of 748 billion yuan has been raised for water conservancy development, 50 percent more than the same period in 2021, while a total of 445 billion yuan has been invested, up by 60 percent year over year, the ministry said at a Monday press conference.
上半年水利工程投资规模创新高：水利部副部长魏山忠11日表示，今年上半年，我国新开工22项重大水利工程、投资规模1769亿元。投资方面, 1月至6月，全国落实水利建设投资7480亿元，较去年同期提高49.5%。水利建设投资完成4449亿元，较去年同期提高59.5%。
产业及公司新闻
China's total installed capacity of renewable energy generation has increased by around 90 times and rose to 1.1 billion kilowatts over the past 10 years with generation capacity of hydropower, wind, solar and biomass ranking tops in the world, according to the National Energy Administration on Monday. As of May, renewable energy generated 2.48 trillion kilowatts of electricity, accounting for nearly 30 percent of the country's total electricity consumption.
可再生能源发电量占总用电量三成：国家能源局新能源司副司长熊敏峰在《中国可再生能源发展报告2021》发布会上表示，截至2021年底，我国可再生能源装机突破10亿千瓦，占全国电力装机的44.8%，据最新统计，截至今年5月底，我国可再生能源再创新高，发电装机容量超过11亿千瓦，水电、风电、光伏发电、生物质发电装机规模稳居世界第一；其中，风电光伏并网装机合计6.7亿千瓦，是2012年的近90倍；可再生能源发电量2.48万亿千瓦时，占全社会用电量的29.7%。
China's vehicle makers are regaining momentum, with new auto sales soaring 23.8 percent year-on-year to 2.5 million units in June,, according to the China Association of Automobile Manufacturers on Monday. In June, passenger vehicle sales totaled 2.22 million units, up 41.2 percent year-on-year. However, the association scaled down its expectations for the year to 27 million units from 27.5 million because it anticipates a 16 percent slump in sales of commercial vehicles.
6月汽车销量同比增长23.8%：中国汽车工业协会11日发布最新数据显示，6月，我国汽车产销分别完成249.9万辆和250.2万辆，环比分别增长29.7%和34.4%，同比分别增长28.2%和23.8%。乘用车产销分别完成223.9万辆和222.2万辆，同比分别增长43.6%和41.2%。今年上半年，乘用车产销均超过1000万辆，总体恢复到正常水平。中汽协预计，2022年，预计全年销量有望达到2700万辆，增长3%左右；而商用车销量同比降幅将达到16%。
Ganfeng Lithium, Chinese supplier of key raw materials for electric vehicle batteries, announced one of its units plans to invest up to $ 962 million to acquire the company that controls the exploration rights to two lithium salt lake mines in Argentina. Ganfeng International Trading will acquire a 100 percent stake in Lithea, as well as the mining firm’s debts, to fight the backdrop of a surge in lithium salt prices, the company said late Monday.
赣锋锂业投资阿根廷锂盐湖：赣锋锂业7月11日公告，董事会同意全资子公司赣锋国际或其全资子公司收购Lithea公司不超过100%股份，本次收购总对价不超过9.62亿美元，该收购总对价包含Lithea公司全部股权价值及公司将承担的Lithea公司相关债务的价值。
Haidilao International, China's largest hotpot restaurant chain, is considering listing of its overseas business in Hong Kong by way of introduction. The Beijing-based company said a spinoff of Super Hi International Holding would position the unit and the parent for growth, it said in an exchange filing yesterday. Shares of Haidilao in Hong Kong closed up 1.5 percent today after trading down 4 percent earlier.
海底捞考虑分拆海外业务：7月11日晚，海底捞在港交所公告称，建议分拆及将海外业务于港交所主板单独上市。公告显示，海底捞现正考虑将Super Hi International Holding Ltd.的股份进行实物分派方式的分拆，以及通过介绍上市方式，在港交所主板单独上市的可能性。港股海底捞今天收涨1.5%，盘中一度跌超4%。
SF Airlines, China's largest air-cargo carrier, has seen a continuous expansion with six freighters joining the fleet this year. The fleet size has reached 73 in July after adding a Boeing 757-200 freighter on the Beijing-Shenzhen route, the firm said Monday.
顺丰第73架全货机入列：顺丰航空周一表示，自7月份新一架波音757-200货机正式投入运行以来，顺丰航空公司的机队规模已经达到了73架。新机近期将执飞深圳至北京航线，保障华南与华北区域间的航空快件时效。
Shares of Hisense Home Appliances Group climbed after a unit of the Chinese home appliances giant that makes compressors signed a five-year deal with Tesla that reportedly worth $100 million a year. The US unit of Japan’s Sanden Holdings, which Hisense acquired just over a year ago, has received orders for two kinds of US-made electric compressors from Tesla.
海信子公司获特斯拉5年订单：11日消息，海信集团内部人士透露，三电美国公司近日获得全球领先新能源汽车制造商客户在美国生产的两款电动压缩机项目订单，并锁定5年供应量，上量后预计每年的订单量合计价值超过1亿美元。
金融市场消息
China's top banking and insurance regulator issued a circular urging efforts to continue the rapid growth of medium and long-term loans to the manufacturing sector. Banks should shore up financial support and innovate to develop products and services in key areas, such as advanced manufacturing, strategic emerging industries and the transformation and upgrading of traditional industries, said the China Banking and Insurance Regulatory Commission on Monday.
扩大制造业中长期贷款规模：7月11日，银保监会发布《关于进一步推动金融服务制造业高质量发展的通知》，其中要求，银行机构要扩大制造业中长期贷款、信用贷款规模，重点支持高技术制造业、战略性新兴产业，推进先进制造业集群发展，提高制造业企业自主创新能力。优化制造业外贸金融服务，支持汽车、家电等制造业企业“走出去”。
Customers of four rural banks in central China's Henan province, whose withdrawals have been frozen, will begin to get some of their money back this week, Henan's provincial banking and insurance regulator said in a statement late Monday. Individual customers with deposits of up to 50,000 yuan will be repaid starting Friday, while arrangements for repaying others will be separately announced.
对村镇银行账外业务客户先行垫付：7月11日晚，河南银保监局、河南省地方金融监管局发布公告，根据案件查办和资金资产追缴情况，对禹州新民生村镇银行、上蔡惠民村镇银行、柘城黄淮村镇银行、开封新东方村镇银行账外业务客户本金分类分批开展先行垫付工作。7月15日开始首批垫付，垫付对象为单家机构单人合并金额5万元以下的客户。单家机构单人合并金额5万元以上的，陆续垫付，垫付安排另行公告。
股市收盘情况
Chinese stocks fell on Tuesday as fears of strict COVID-19 curbs in Shanghai reignited worries of a wider economic disruption. By the close, the benchmark Shanghai Composite edged down 0.97 percent and the Shenzhen Component lost 1.41 percent. Hong Kong’s Hang Seng index retreated 1.32 percent and the TECH index was down 2.14 percent.
周二A股三大指数集体收跌。截至收盘，沪指跌0.97%，深成指跌1.41%，创业板指跌2.34%。板块方面，公路铁路运输、建筑装饰、钒电池、水利等板块或概念领涨；半导体及元件、医疗股、汽车芯片、CRO概念、高送转等板块或概念领跌。港股恒生指数收跌1.32%，恒生科技指数收跌2.14%。
Biz Word of the Day
财经词汇划重点
A spinoff is when a company creates a new independent company by selling or distributing new shares of its existing business, which is a type of divestiture. A company creates a spinoff expecting that it will be worth more as an independent entity.
分拆是指一个母公司通过将其在子公司中所拥有的股份，按比例地分配给现有母公司的股东，从而在法律上和组织上将子公司的经营从母公司的经营中分离出去。