CBN丨China sees brighter outlook on housing data

Hi everyone. I’m Stephanie LI.

大家好，我是主持人李瑩亮。

Coming up on today’s program.

重點提要

• China's home prices rise in March;
• The largest-ever Canton Fair opens in Guangzhou.

Here’s what you need to know about China in the past 24 hours

中國經濟要聞

Most major Chinese cities reported rising home prices last month, indicating a steady recovery of the country's property market, official data showed Saturday.

China's new home prices edged up 0.4 percent month-on-month in March, marking the fastest pace in nearly two years and the third consecutive monthly rise, data from the National Bureau of Statistics showed.

Prices in annual terms showed the smallest drop since June 2022, down 0.8 percent in March after a 1.2 percent decline in February, the 11th month of declines on an annual basis.

Among 70 cities surveyed by the NBS, 64 saw an uptick in new home prices in monthly terms, the most cities since May 2019 and up from 55 in February. The increase in house prices was broad-based among all city tiers, all extending their month-on-month gains.

New home prices in four first-tier cities – Beijing, Shanghai, Shenzhen, and Guangzhou – went up 0.3 percent in March, compared with a 0.2-percent growth in February.

In 31 second-tier cities, prices of new homes gained 0.6 percent, picking up pace from the 0.4-percent increase a month earlier. New housing in 35 third-tier cities saw prices up 0.3 percent, the same growth rate with February.

Meanwhile, encouraging signs were also seen in the second-hand market as 57 cities witnessed higher resale prices, up from 40 in February. Prices went up 0.5 percent and 0.3 percent month on month in first and second-tier cities, respectively, while a 0.2-percent increase was registered in third-tier cities.

"The housing price index shows a trend of stabilization and recovery, fully indicating that overall real estate is out of last year's trough," said Yan Yuejin, an analyst at the Shanghai-based E-house China Research and Development Institution.

However, analysts say it is still too early to tell whether the nascent property recovery will be sustained because of the uncertainty over consumer confidence.

3月新房、二手房價格環比全線上漲。

4月15日上午，國家統計局公布的《2023年3月份商品住宅銷售價格變動情況》顯示，70城房價環比全線上漲，其中新房及二手房環比上漲城市分别為64個和57個，比2月分别增加9個和17個；同比變動上，一線城市商品住宅銷售價格同比上漲、二三線城市同比降幅收窄。

國家統計局城市司首席統計師繩國慶解讀指出，3月份，70個大中城市中商品住宅銷售價格上漲城市個數增加，各線城市商品住宅銷售價格環比上漲，一線城市商品住宅銷售價格同比上漲，二三線城市同比降幅收窄。分析認為，經濟轉暖、剛需改善購房者抓緊低信貸利率視窗期、積壓購房需求的集中釋放等因素，推動樓市出現積極變化。

從環比看，3月份，70個大中城市中，建立商品住宅和二手住宅銷售價格環比上漲城市分别有64個和57個，比上月分别增加9個和17個。

樓市回暖最先傳導至一線城市，繼2月後，北上廣深四大一線城市再次出現新房二手房價格環比均上漲。總體看，3月份，一線城市建立商品住宅銷售價格環比上漲0.3%，漲幅比上月擴大0.1個百分點；二手住宅銷售價格環比上漲0.5%，漲幅比上月回落0.2個百分點。

二線城市建立商品住宅和二手住宅銷售價格環比分别上漲0.6%和0.3%，漲幅比上月均擴大0.2個百分點。三線城市建立商品住宅銷售價格環比上漲0.3%，漲幅與上月相同；二手住宅銷售價格環比由上月持平轉為上漲0.2%。

易居研究院研究總監嚴躍進分析指出，房價企穩的動力、特征和趨勢非常明确。雖然4月份部分城市市場交易有所下滑，但不影響房價走出低谷，進而步入複蘇的通道。一季度房價走勢好于預期，對于二季度房企和購房者等都會産生積極的影響。

不過，多位業内人士認為，目前全國樓市普遍仍處于“弱複蘇”态勢。分析師表示，3月房價環比上漲，這是由于部分積壓了3年的需求開始帶着抄底心理入市，市場出現恢複性上漲，這波“小陽春”符合市場慣例。但近期資料顯示，進入4月，北京等地成交量有所下降，購房者或逐漸趨于理性。

Moving on to regional highlights

區域觀察

• The number of enterprises registered in the city of Beijing has surpassed 2 million, data released by Beijing's market regulation administration shows. The city newly registered 68,000 enterprises in the first three months of this year, marking a yearly increase of 21 percent, according to the administration.

  北京注冊企業數量突破200萬戶：北京市市場監管局16日消息，北京市注冊企業總數已突破200萬戶大關，注冊企業數量占全市市場主體總量的83%。今年1月至3月，新設企業達到6.8萬戶，同比增長21%，主體活力不斷增強。

• Northeast China's Heilongjiang Province on Sunday saw the departure of the first China-Europe Railway Express trains that carried domestically made commercial vehicles, with 55 containers bearing 165 commercial vehicles, and headed for Europe via the Manzhouli port, the China Railway Harbin Group said. The train is expected to arrive at its destination in just 15 days. According to the company, products carried on the train are worth about 33 million yuan, the highest freight value among all China-Europe Railway Expresses that ran from Heilongjiang this year. .

  黑龍江開行首趟國産汽車中歐班列：中國鐵路哈爾濱局集團有限公司表示，4月16日，一列滿載55個集裝箱165台商品汽車的貨運列車，從哈爾濱國際集裝箱中心站駛出，經滿洲裡口岸駛向歐洲。這趟專列是黑龍江省開行的首趟國産品牌商品汽車中歐班列，為中國品牌“走出去”開辟了一條新的國際物流通道。

Greater Bay Area, Greater future

新使命，大未來

• The largest-ever China Import and Export Fair was opened offline in Guangzhou on Saturday, with the exhibition area and the number of exhibitors hitting a record high. The event, also known as the Canton Fair, welcomed 370,000 visitors on its opening day alone, according to the organizers. As the largest fair in its history, this year's fair has expanded its exhibition area from 1.18 million square meters to 1.5 million square meters, with nearly 70,000 booths available for exhibitors. About 35,000 enterprises from home and abroad are attending on-site, including more than 9,000 new participants, while a further 39,000 companies will take part online. The fair also has in place online services for product promotion and matching and business negotiations, enabling both Chinese and international businesses to land orders remotely.

  本屆廣交會創兩項曆史記錄：4月15日，第133屆廣交會正式線下開展，這也是史上最大規模的廣交會，展覽面積和參展企業數量均創曆史新高。官方統計資料顯示，開展首日，廣交會全天進場人次37萬。本屆廣交會共吸引了226個國家和地區的采購商和參展商，線下有将近3.5萬家企業參展。據悉，本次廣交會展覽總面積從118萬平方米增至150萬平方米，展位數量從6萬個增至近7萬個；線下展企業從2.5萬家增至34933家，新參展企業超過9000家，線上展企業達到39281家。本屆廣交會于4月15日至5月5日分三期舉辦，每期舉辦時間為5天。

• For the first time ever, most cross-border settlements in Guangdong, the province with the biggest economy in China, were made in Chinese yuan in the first quarter. During the period, the value of cross-border agreements settled in Chinese yuan in Guangdong rose 7.2 percent to 1.67 trillion yuan from the previous quarter, accounting for 51.6 percent of the total, according to the latest data by the People's Bank of China. The Chinese yuan has been the dominant cross-border settlement currency in the Greater Bay Area for three consecutive years, the central bank noted.

  人民币首次成粵第一大跨境結算貨币：據人民銀行廣州分行消息，今年一季度，人民币首次超越其他币種，成為廣東省第一大結算貨币。截至一季度末，廣東省跨境人民币結算額達1.67萬億元，占本外币結算總額的51.6%，較去年末增長7.2個百分點。跨境人民币貨物貿易結算額4501.23億元，同比增長11.1%；直接投資結算額4137.11億元，同比增長39.7%。2022年末，人民币已連續三年成為大灣區第一大跨境結算貨币，占同期本外币跨境結算的44.4%。

• More than 750 million yuan of research funds have been transited to Hong Kong from the Chinese mainland, Chief Secretary for Administration Eric Chan said at a meeting on Saturday, which have been deployed to universities and research institutions in Hong Kong to support the R&D projects. Chan added that the SAR government has been in close contact with responsible central departments, aiming to facilitate the cross-border flow of innovation elements.

  内地超7.5億元科研資金過境到港：香港特别行政區政府政務司司長陳國基4月15日透露，迄今有超7.5億元人民币科研資金“過河”到港。“以資金跨境流動為例，至今已有超過7.5億元人民币科研資金過境到香港的大學和科研機構，支援他們進行研發項目，（雙方還）建立了19所粵港澳聯合實驗室以及2所實驗室香港分支機構。”陳國基說，特區政府一直與中央緊密聯系，推動制定更多政策措施，促進創新要素跨境流動，讓香港更好融入國家發展大局，與内地優勢互補，協同發展。他還透露，香港科學園深圳分園預計今年二季度啟用。

• Hong Kong on Sunday distributed the first installment of e-vouchers under the 2023 Consumption Voucher Scheme to 6.4 million city residents. E-vouchers worth HK$3,000 ($382) were disbursed to permanent residents and new arrivals. Another HK$2,000 is promised on July 16. Non-permanent residents in the city for work or study will receive a total of HK$2,500. Hong Kong Financial Secretary Paul Chan said yesterday this year’s voucher scheme is expected to inject HK$20 billion in the market, which could drive up 0.6 percentage point in total GDP growth.

  香港第一期消費券昨起開領：香港特區政府4月16日派發了首期消費券，陳茂波16日表示，發放過程順利，這次消費券為市場注入200億港元，預期可提振經濟0.6個百分點，對經濟複蘇非常重要。根據香港特區政府此前披露，16日向大約640萬名符合資格的市民發放今年消費券計劃第一期的消費券。香港永久居民及新來香港人士會獲發3000港元消費券，餘下2000元消費券于7月16日發放。通過不同入境計劃在港居住及來港升學的合資格人士，符合條件将會獲發半額（2500元）的消費券。

Next on industry and company news

産業及公司新聞

• China will raise retail prices for gasoline and diesel by 550 yuan and 525 yuan per ton, respectively, effective midnight Monday, the National Development and Reform Commission said today, bringing the retail oil prices to a new high in 2023. Private car owners will have to pay an extra 21.5 yuan to fill up a 50-liter tank.

  成品油價迎年内最大漲幅：4月17日下午，國家發展改革委釋出消息，自4月17日晚24時起，國内汽、柴油零售限價分别上調550元/噸和525元/噸。折合升價，90号汽油上調0.43元/升，95号汽油上調0.46元/升，0号柴油上調0.45元/升。以油箱容量為50升的普通私家車計算，本次調價後，加滿一箱92号汽油将多花21.5元。

• Tesla China has launched a new round of recruitment, the official social media account of the US electric car maker shows, aiming to prepare for the opening of its latest Megapack manufacturing plant in Shanghai. Recruitment covers five fields ranging from product R&D, intelligent manufacturing, supply chain, industrial network R&D to environment protection and the workplace is in the Lin-Gang Special Area, according to the recruitment notice.

  特斯拉上海儲能工廠開始招聘：據特斯拉官博消息，近日剛剛簽約落戶上海臨港的特斯拉儲能超級工廠開始招聘，崗位涵蓋産品研發、智能制造、供應鍊、工業網際網路研發等領域，工作地點均為上海臨港。據報道，此次特斯拉的部分招聘崗位已經在主流招聘網站上挂出，隻有工程師，主管，經理等高階崗位，其中儲能機械工程師的月薪在3-5萬之間。

• The electric vehicle market will follow the same development pattern as the phone industry, and 2025 will likely be the watershed, Richard Yu, chief executive of Huawei’s Intelligent Automotive Solution Business Unit, said at a launching event yesterday. “No matter how successful a company is now, it may disappear in the future if it cannot seize the opportunities amid changes in the era of electric and intelligent connected vehicles,” Yu pointed out.

  華為餘承東稱2025年将是智能車分水嶺：4月16日，2023華為智能汽車解決方案新品釋出會上，華為常務董事、智能汽車解決方案BU CEO餘承東表示，智能電動汽車與十多年前的智能手機時代驚人地相似。他判斷，智能電動汽車将重制功能手機到智能手機的變局。走向智能電動汽車時代，行業競争的上半場是電動化，下半場是智能化。在時間點上，2025年将是智能電動汽車時代的一個分水嶺。餘承東強調，如果不能抓住智能電動網聯汽車時代的變遷機會，尤其不能抓住自動化的機會，無論今天是多麼強大的公司，将來有可能會消失。

• Chery Automobile will start to install Chinese battery giant CATL’s newly developed sodium batteries in its vehicles and the two parties will also team up on developing other battery types, the two firms jointly announced yesterday. They will also develop a new battery brand called ENER-Q which will be used in models such as Chery’s iCAR 03, it said, as well as hook up on sodium batteries, lithium iron phosphate batteries and M3P batteries.

  奇瑞将首載甯德時代鈉離子電池：4月16日晚間，在奇瑞iCAR品牌之夜上，奇瑞與甯德時代共同宣布，雙方聯合打造全新電池品牌ENER-Q。據悉，新電池品牌覆寫純電、插混、增程的動力類型，适配C端和B端的應用場景，涵蓋鈉離子、M3P、磷酸鐵锂及三元锂等全材料體系電池系統。與此同時，雙方還宣布，甯德時代鈉離子電池也将首發落地奇瑞車型。

Earnings reports express

财報速遞

• Kweichow Moutai is expecting net profit in the first quarter to soar 19 percent from the same period last year, and revenue to surge 18 percent, as the leading Chinese liquor maker maintains its dominance in the sector. The distiller is forecasting net profit of 20.5 billion yuan in the first three months and revenue of 39.2 billion yuan, according to its latest earnings report released yesterday.

  貴州茅台一季度實作開門紅：4月16日晚間，貴州茅台披露一季報。一季度歸屬于上市公司股東的淨利潤為205.2億元左右，同比增長19%。期内實作營業總收入391.6億元左右，同比增長18%；實作歸屬于上市公司股東的淨利潤205.2億元左右，同比增長19%。營收和淨利均超過年初15%的增長目标，且淨利增幅再次超過營收增幅。

Switching gears to financial news

金融市場消息

• China's green bond issuance saw robust growth in March, according to financial information provider Wind. Last month, the country issued 100 green bonds worth more than 159.4 billion yuan, up 70.3 percent year on year and exceeding the combined value in the first two months of 2023. Meanwhile, trading in the secondary market continued to recover in March, with the total amount of green bond cash trading reached 256 billion yuan, a month-on-month growth of 26.3 percent.

  3月綠色債券發行規模同比增長70％：據Wind資料統計，3月份大陸綠色債券市場發行規模達1594.44億元，超過今年前2個月發行規模之和。同時，二級市場交易也持續回暖，3月份綠色債券現券交易總額達2559.56億元，環比增長26.25%。

Wrapping up with a quick look at the stock market

股市收盤情況

• Chinese stocks rose on Monday as China's March home price data and signs of corporate earnings recovery fuel optimism ahead of the release of first-quarter economy data. The benchmark Shanghai Composite rose 1.4 percent to a nine-month high and the Shenzhen Component gained 0.5 percent. Hong Kong’s Hang Seng index also surged 1.7 percent, and the TECH index rallied 2.2 percent.

  滬指創年内新高、港股拉升：周一A股大盤全天低開高走，滬指漲超1%創年内新高。截至收盤，滬指漲1.42%，深成指漲0.47%，創業闆指漲0.26%。滬深兩市今日成交額11209億，其中，滬指成交金額創年内新高。北向資金全天淨買入19.18億元。港股早盤低開後拉升，恒指收漲1.68%，恒生科技指數收漲2.16%。

Biz Word of the Day

财經詞彙劃重點

• A green bond(also known as climate bond) is a fixed-income financial instruments (bond) which is used to fund projects that have positive environmental and/or climate benefits. This allows investors to target their environmental, social, and corporate governance (ESG) goals by investing in them.

  綠色債券是指任何将所得資金專門用于資助符合規定條件的綠色項目或為這些項目進行再融資的債券工具。 相比于普通債券，綠色債券主要在四個方面具有特殊性：債券募集資金的用途、綠色項目的評估與選擇程式、募集資金的跟蹤管理以及要求出具相關年度報告等。

Executive Editor: Sonia YU

Editor: LI Yanxia

Host: Stephanie LI

Writer: Stephanie LI

Sound Editor: Stephanie LI

Graphic Designer: ZHENG Wenjing, LIAO Yuanni

Produced by 21st Century Business Herald Dept. of Overseas News.

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編委: 于曉娜

策劃、編輯：李豔霞

播音：李瑩亮

撰稿：李瑩亮

音頻制作：李瑩亮

設計：鄭文靜、廖苑妮

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