CBN丨Major Chinese cities vow to optimize real estate policies to boost recovery

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

• Top-tier Chinese cities vow to support property market after the housing minister urges fresh aid efforts;
• China's manufacturing PMI rose in July.

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

中國經濟要聞

Major Chinese cities including Beijing, Shenzhen and Guangzhou have vowed to better meet the public’s rising housing needs, after China’s housing minister called for more efforts to strengthen the property market with measures such as lowering payment requirements and mortgage rates for first-time homebuyers.

Guangzhou has become the latest tier-one Chinese city vowing to launch new policies to support the ailing property sector, following similar pledges by the governments of Beijing and Shenzhen.

The Housing and Construction Bureau of Guangzhou said it would reveal measures soon to satisfy the demand for first-time buyers and those who seek better homes, vowing to optimize policies and adapt policy tools based on the cities’ actual situations.

Shenzhen on Sunday also said it will take measures to meet residents’ demand for basic housing and their need to improve housing conditions, advance the delivery of completed housing projects, maintain the order of the real estate market, and promote a stable and healthy development of the city’s real estate market.

Beijing and Hefei in East China’s Anhui Province made similar statements over the weekend.

The moves were taken after a meeting of China’s Politburo on July 24 pledged to “adjust and optimize real estate policies in a timely manner.”

At a recent symposium with property developers, Ni Hong, minister of housing and urban-rural development, urged continued efforts to consolidate the recovery trend of the property market, according to the ministry on Friday.

Ni also called for fully implementing favorable measures, including lower down payment requirements and mortgage rates for first-time homebuyers, tax breaks for upgrading and treating buyers who had paid off prior mortgages to be treated as first-time purchasers. He also called for efforts to ensure the delivery of pre-sold homes.

The ministry also urged companies in the construction and real estate sector to actively participate in affordable housing projects, the renovation of villages in cities, and public facility construction.

“适時調整優化房地産政策”，一線城市站出來了。

7月29日晚間，北京市住建委官方公衆号“安居北京”釋出消息稱，将結合北京房地産市場實際情況，會同相關部門抓緊抓好貫徹落實工作，大力支援和更好滿足居民剛性和改善性住房需求，促進北京房地産市場平穩健康發展。

7月30日中午，深圳市住建局發表消息稱，将會同市有關部門、中央駐深機構和各區抓好貫徹落實，更好滿足居民剛性和改善性住房需求，紮實推進保交樓工作，切實維護房地産市場秩序，促進深圳市房地産市場平穩健康發展。

緊接着，廣州市住建委也表示，将結合廣州實際盡快推出有關政策措施，大力支援、更好滿足剛性和改善性住房需求，促進廣州房地産市場平穩健康發展。

一線城市的表态，是對中央要求以及行業主管部門指導意見的貫徹落實。業内普遍認為，如果一線城市能夠作出調整優化的動作，其他強二線城市大機率也會跟進。

7月24日，中共中央政治局會議提出“适時調整優化房地産政策，因城施策用好政策工具箱”。在政治局重磅定調3天後，住房和城鄉建設部發聲，再釋放樓市利好信号。

7月27日深夜消息，住房和城鄉建設部部長倪虹在近日召開的企業座談會上說，要繼續鞏固房地産市場企穩回升态勢，大力支援剛性和改善性住房需求，進一步落實好降低購買首套住房首付比例和貸款利率、改善性住房換購稅費減免、個人住房貸款“認房不認貸”等政策措施；繼續做好保交樓工作，加快項目建設傳遞，切實保障人民群衆的合法權益。這意味着首套房降首付和利率、換房減稅費、“認房不認貸”三大支援性政策，再加上“保交樓”，将成為接下來各地房地産政策調整的主要方向。

• China's manufacturing sector witnessed an improved business climate in July as a key indicator went up for a second straight month, official data showed Monday. The purchasing managers' index (PMI) for the sector came in at 49.3 in July, up from 49 in June and 48.8 in May, according to the National Bureau of Statistics (NBS). Among the 21 surveyed industries, 10 reported expansion in July, up from 8 a month earlier. There was an overall improvement in the manufacturing climate, NBS statistician Zhao Qinghe said. Monday's data also showed that the non-manufacturing PMI -- 51.5 in July -- has stood well above the boom-or-bust line for seven consecutive months, which indicated robust activities in the service and construction industries.

  7月制造業PMI繼續回升：7月31日，國家統計局公布資料顯示，中國7月官方制造業PMI報49.3%，，比上月上升0.3個百分點；7月非制造業商務活動指數和綜合PMI産出指數分别為51.5%和51.1%，均連續7個月位于擴張區間，大陸經濟延續恢複發展态勢。7月份，制造業PMI連續兩個月小幅回升，調查的21個行業中有10個位于擴張區間，比上月增加2個，制造業景氣水準總體持續改善。7月份，非制造業商務活動指數為51.5%，比上月下降1.7個百分點，非制造業繼續保持擴張。其中，服務業延續恢複發展态勢，建築業保持擴張。

• China is seeking to boost consumption to spur the economy’s recovery, with the National Development and Reform Commission (NDRC), China’s top economic planning agency, releasing a wide-ranging policy document on Monday containing some recently announced consumption-related initiatives. The document focuses on removing government restrictions on consumption, such as car purchase limits, improving infrastructure and holding promotional events like food festivals.

  恢複和擴大消費二十條措施印發：7月31日，在國務院新聞辦舉行的恢複和擴大消費的措施國務院政策例行吹風會上，國家發展改革委副主任李春臨介紹了《關于恢複和擴大消費的措施》相關情況。《措施》圍繞穩定大宗消費、擴大服務消費、促進農村消費、拓展新型消費、完善消費設施、優化消費環境等六個方面，提出20條具體政策舉措，力求長短兼顧、務實有效。

Moving on to regional highlights

區域觀察

• As East China's Anhui Province reported a year-on-year GDP growth rate of 6.1 percent on Sunday, all 31 provincial-level regions in the Chinese mainland have unveiled their first-half "economic report cards" with 15 regions surpassing the national growth rate of 5.5 percent. The GDP growth of Shanghai, Hainan, and Xizang surpassed 8 percent with Shanghai as the highest, at 9.7 percent, while Jilin and Inner Mongolia rose more than 7 percent.

  Guangdong, which has been leading China's growth in term of GDP for decades, reported a rise of 5 percent to more than 6.29 trillion yuan, accounting for 10.6 percent of the nation's total. Jiangsu followed closely with a total GDP of 6.05 trillion yuan, up 6.6 percent. Shandong ranked third with an economic output of 4.41 trillion yuan, up 6.2 percent.

  Economic powerhouses played a leading role in industrial upgrades in the first half, as Guangdong facilitated the digital transformation of 27,500 large industrial enterprises. The added value of Sichuan's green and low-carbon industries increased by 11.6 percent in the first half. In Beijing, the information services and financial industries contributed more 70 percent of economic growth.

• 31省份半年GDP全部出爐：随着7月30日安徽省統計局釋出安徽2023年上半年經濟資料，全國31個省區市上半年的GDP資料已經全部出爐。同比增速方面，上半年，31個省份中有15個省份增速超過全國水準5.5%，其中12省超6%。廣東地區生産總值34年來居各省第一，2023年上半年GDP達到6.29萬億元，同比增速5%，經濟總量占全國的比重達到10.6%。江蘇緊随其後，2023年上半年GDP總值6.05萬億元，同比增速6.6%。山東以4.41萬億元的經濟總量位居第三，增速6.2%。上海2023年上半年GDP增速9.7%，達到2.14萬億元，排名第11。

  作為數字經濟大省和制造業大省，廣東全省新動能産品保持較快增長，截至目前，全省累計推動了2.75萬家規上工業企業數字化轉型。除此以外，上半年，四川省綠色低碳優勢産業增加值同比增長11.6%，北京市資訊服務業和金融業增加值對經濟增長的貢獻率超過七成。

Next on industry and company news

産業及公司新聞

• China saw an increase in both passenger and freight traffic in the first half of the year, data from the Ministry of Transport showed on Monday. From January to June, 4.32 billion commercial passenger trips were made, soaring 56.3 percent year on year, while freight volume rose 6.8 percent year on year to 25.93 billion tons. During the period, China's road trips climbed 39 percent to 11.8 billion, which has exceeded the pre-pandemic level in 2019, according to the ministry. Meanwhile, China completed 1.83 trillion yuan of fixed asset investment in transportation in the six months, up 9.1 percent year on year.

  上半年客運量同比增長56.3%：7月31日，交通運輸部介紹上半年交通運輸經濟運作情況。今年以來，交通運輸經濟運作持續恢複。上半年，全國完成營業性貨運量259.3億噸，同比增長6.8%。港口貨物吞吐量81.9億噸，同比增長8%；集裝箱吞吐量完成1.5億标箱，同比增長4.8%。客運方面，上半年全國完成營業性客運量43.2億人次，同比增長56.3%；全國完成高速公路小客車出行量117.8億人次，同比增長39%，規模已明顯超過疫情前同期水準。上半年，全國完成交通固定資産投資1.83萬億元，同比增長9.1%。

• China-Europe freight trains made 10,000 trips as of Saturday this year, 22 days earlier than last year, carrying more than 1.08 million 20-foot equivalent unit (TEU) containers of goods, up 27 percent, data from China State Railway Group showed. China-Europe freight trains now cover almost the entire Euroasian continent, the company said.

  今年中歐班列開行超1萬列：中國國家鐵路集團的資料顯示，截至7月29日，中歐班列已開行1萬列，比去年提前22天，運載超過108萬個20英尺标準箱（TEU）貨物，增長27%。

• China’s domestic tourism market is expected to rebound to 90 percent of pre-pandemic levels this year thanks to surging demand since Covid-related travel restrictions were lifted in late 2022. A total of 5.5 billion trips are expected within China during 2023, according to a report by the China Tourism Academy, a data center of the tourism ministry. Revenue generated by the domestic travel market should reach 5 trillion yuan, about 80 percent of pre-Covid levels, per the report.

  今年國内旅遊收入預計達5萬億元：7月28日，中國旅遊研究院釋出《2023年上半年旅遊經濟運作分析與下半年趨勢預測》。報告顯示，上半年，旅遊經濟穩步進入“供需兩旺，加速回暖”的複蘇向上通道。預計今年全國旅遊總人次将達到55億人次，國内旅遊收入将達到5萬億元，分别恢複至2019年同期的90%和80%

• Shares of Country Garden Services Holdings rose after the chairwoman of the property management arm of Chinese real estate developer Country Garden donated about HKD6.4 billion worth of shares to charity. Yang Huiyan donated 675 million shares of Country Garden Services, equal to 20 percent of the total, to the Guoqiang Foundation (Hong Kong), to support the growth of science, education, culture, healthcare, and adolescents life in Hong Kong and the Greater Bay Area and for other public welfare purposes, the company said in a statement yesterday.

  碧桂園捐贈64億港元股權：7月30日晚，港股上市公司碧桂園服務釋出公告稱，公司控股股東、非執行董事兼董事會主席楊惠妍向國強公益基金會（香港）有限公司捐贈6.75億股作慈善公益用途。以碧桂園服務最新價9.55港元計算，該筆捐贈的股權價值約為64億港元，占碧桂園服務總股本的比例約為20%。據悉，此次捐贈股份将用作支援香港及粵港澳大灣區科學、教育文化、健康及青少年成長，資助弱勢群體、赈災以及内地鄉村振興等公益用途。

• China's largest express delivery company SF Holding plans to raise up to USD3 billion (HKD23.4 billion) in a second listing in Hong Kong as soon as next month, media reported. Earlier in May, there were media reports that the Shenzhen-listed company, also known as SF Express, has picked Goldman Sachs Group, Huatai Securities, and JP Morgan Chase & Co to work on the possible initial public offering in the city, which could raise at least USD2 billion.

  順豐或最快8月遞交香港第二上市申請：據28日媒體報道，順豐控股正在推進赴香港第二上市計劃，最快将于8月在港交所送出上市申請，募資金額将介乎20億至30億美元。早前有消息，順豐已聘請高盛、華泰證券、摩根大通負責IPO事宜，預期年内上市。有報道指，順豐早在三年前已跟投行初步讨論香港上市計劃。

Earnings reports express

财報速遞

• Shares of Haidilao International Holding surged after the Chinese hotpot chain said it expects its net profit to have jumped nearly 3,000 percent in the first half of the year. Net profit likely totaled 2.2 billion yuan in the first half, versus 72 million yuan a year earlier, the company announced yesterday. Revenue is expected to have risen at least 23.7 percent to 18.8 billion yuan. Haidilao’s net profit soared mainly because of a higher table turnover rate, improvements in internal management and operations, and the recovery of consumption from the Covid-19 pandemic, the firm noted.

  海底撈上半年預盈超22億元：7月30日晚間，海底撈國際控股有限公司釋出正面盈利預告。截至2023年6月30日，海底撈來自持續經營業務的收入預計不少于188億元，去年同期為152億元，同比增長超過23.7%；持續經營業務淨利潤預計不低于22億元，去年同期為0.72億元，同比增超29倍。對于上半年的業績大漲，公告中介紹，海底撈上半年營收增長主要由于随着針對新冠疫情的管控措施取消，海底撈餐廳客流量增加，經營好轉；及“硬骨頭”計劃下部分先前關停門店重開後，餐廳數目同比增加。而利潤增加主要由于翻台率提升，内部管理及營運改善，餐廳經營效率提升。

A quick look at the stock market

股市收盤情況

• Chinese stocks extended rally on Monday as the country outlined measures to expand consumption and pledged incremental measures to boost the property market. The benchmark Shanghai Composite gained 0.5 percent and the Shenzhen Component rose 0.8 percent. Total turnover in the A-share market hit 1 trillion yuan for the first time in nearly a month. Hong Kong’s Hang Seng index also climbed 0.8 percent and the TECH index jumped 1.9 percent.

  7月A股港股紅盤收官：周一A股大盤全天沖高回落，三大指數均小幅上漲。截至收盤，滬指漲0.46%，深成指漲0.75%，創業闆指漲0.77%。滬深兩市成交額近一個月重回萬億。北向資金全天淨買入93.47億元。港股恒生指數漲0.82%，恒生科技指數漲1.87%。

Chengdu FISU World University Games

成都大運會速報

• The gold rush continued for China at the 31st FISU World University Games, who bagged 16 golds, 5 silvers and 4 bronzes as of 5pm Monday, standing at the top of the medal table. Huang Bowen and Liang Zhaohui claimed victory in men's synchronized 3m springboard, while Zhang Jiaqi and Zhang Minjie won the women's synchronized 10m platform diving. The Chinese team won the gold medal in the collective 5 laps of rhythmic gymnastics. Judo women's 78kg plus gold medal was taken home by Jia Chundi, and Song Buhan won gold in men's 10m air rifle.

  大運會中國隊16金5銀4銅：截至7月31日17時，中國大學生體育代表團在成都大運會賽場以16金5銀4銅的成績排名暫列成都大運會金牌榜第一。7月31日，中國大學生體育代表團黃博文、梁朝輝在男子雙人3米跳闆摘金；中國隊在藝術體操集體5圈項目摘金；張家齊/掌敏潔獲跳水女子雙人10米台金牌；賈春迪獲柔道女子+78公斤級金牌；宋布寒獲男子10米氣步槍金牌。

Biz Word of the Day

财經詞彙劃重點

• In trading, a secondary listingor cross listing is an arrangement by which a company is listed on stock exchanges other than the primary exchange on which the security is listed. Secondary listings are commonly used by companies looking to access new capital markets. They may also be used to maintain a presence on their former primary exchange after moving their primary listing to a different exchange.

  第二上市是指公司在兩地上市相同類型的股票，通過國際托管行和證券經紀商可以實作股份跨市場流通，第二上市的方式主要以存托憑證的形式存在。雙重上市的公司需要完全遵守兩地交易所的規定，第二上市的公司對于部分規則享有豁免權。

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.

Presented by SFC

編委: 于曉娜

策劃、編輯：李豔霞

播音：李瑩亮

撰稿：李瑩亮，實習生黃青衣

音頻制作：黃青衣

設計：鄭文靜、廖苑妮

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