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

Hi everyone. I’m Stephanie LI.

大家好，我是主持人李莹亮。

Coming up on today’s program.

重点提要

• 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

中国经济要闻

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.

“适时调整优化房地产政策”，一线城市站出来了。

7月29日晚间，北京市住建委官方公众号“安居北京”发布消息称，将结合北京房地产市场实际情况，会同相关部门抓紧抓好贯彻落实工作，大力支持和更好满足居民刚性和改善性住房需求，促进北京房地产市场平稳健康发展。

7月30日中午，深圳市住建局发表消息称，将会同市有关部门、中央驻深机构和各区抓好贯彻落实，更好满足居民刚性和改善性住房需求，扎实推进保交楼工作，切实维护房地产市场秩序，促进深圳市房地产市场平稳健康发展。

紧接着，广州市住建委也表示，将结合广州实际尽快推出有关政策措施，大力支持、更好满足刚性和改善性住房需求，促进广州房地产市场平稳健康发展。

一线城市的表态，是对中央要求以及行业主管部门指导意见的贯彻落实。业内普遍认为，如果一线城市能够作出调整优化的动作，其他强二线城市大概率也会跟进。

7月24日，中共中央政治局会议提出“适时调整优化房地产政策，因城施策用好政策工具箱”。在政治局重磅定调3天后，住房和城乡建设部发声，再释放楼市利好信号。

7月27日深夜消息，住房和城乡建设部部长倪虹在近日召开的企业座谈会上说，要继续巩固房地产市场企稳回升态势，大力支持刚性和改善性住房需求，进一步落实好降低购买首套住房首付比例和贷款利率、改善性住房换购税费减免、个人住房贷款“认房不认贷”等政策措施；继续做好保交楼工作，加快项目建设交付，切实保障人民群众的合法权益。这意味着首套房降首付和利率、换房减税费、“认房不认贷”三大支持性政策，再加上“保交楼”，将成为接下来各地房地产政策调整的主要方向。

• 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月制造业PMI继续回升：7月31日，国家统计局公布数据显示，中国7月官方制造业PMI报49.3%，，比上月上升0.3个百分点；7月非制造业商务活动指数和综合PMI产出指数分别为51.5%和51.1%，均连续7个月位于扩张区间，大陆经济延续恢复发展态势。7月份，制造业PMI连续两个月小幅回升，调查的21个行业中有10个位于扩张区间，比上月增加2个，制造业景气水平总体持续改善。7月份，非制造业商务活动指数为51.5%，比上月下降1.7个百分点，非制造业继续保持扩张。其中，服务业延续恢复发展态势，建筑业保持扩张。

• 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.

  恢复和扩大消费二十条措施印发：7月31日，在国务院新闻办举行的恢复和扩大消费的措施国务院政策例行吹风会上，国家发展改革委副主任李春临介绍了《关于恢复和扩大消费的措施》相关情况。《措施》围绕稳定大宗消费、扩大服务消费、促进农村消费、拓展新型消费、完善消费设施、优化消费环境等六个方面，提出20条具体政策举措，力求长短兼顾、务实有效。

Moving on to regional highlights

区域观察

• 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全部出炉：随着7月30日安徽省统计局发布安徽2023年上半年经济数据，全国31个省区市上半年的GDP数据已经全部出炉。同比增速方面，上半年，31个省份中有15个省份增速超过全国水平5.5%，其中12省超6%。广东地区生产总值34年来居各省第一，2023年上半年GDP达到6.29万亿元，同比增速5%，经济总量占全国的比重达到10.6%。江苏紧随其后，2023年上半年GDP总值6.05万亿元，同比增速6.6%。山东以4.41万亿元的经济总量位居第三，增速6.2%。上海2023年上半年GDP增速9.7%，达到2.14万亿元，排名第11。

  作为数字经济大省和制造业大省，广东全省新动能产品保持较快增长，截至目前，全省累计推动了2.75万家规上工业企业数字化转型。除此以外，上半年，四川省绿色低碳优势产业增加值同比增长11.6%，北京市信息服务业和金融业增加值对经济增长的贡献率超过七成。

Next on industry and company news

产业及公司新闻

• 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.

  上半年客运量同比增长56.3%：7月31日，交通运输部介绍上半年交通运输经济运行情况。今年以来，交通运输经济运行持续恢复。上半年，全国完成营业性货运量259.3亿吨，同比增长6.8%。港口货物吞吐量81.9亿吨，同比增长8%；集装箱吞吐量完成1.5亿标箱，同比增长4.8%。客运方面，上半年全国完成营业性客运量43.2亿人次，同比增长56.3%；全国完成高速公路小客车出行量117.8亿人次，同比增长39%，规模已明显超过疫情前同期水平。上半年，全国完成交通固定资产投资1.83万亿元，同比增长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.

  今年中欧班列开行超1万列：中国国家铁路集团的数据显示，截至7月29日，中欧班列已开行1万列，比去年提前22天，运载超过108万个20英尺标准箱（TEU）货物，增长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.

  今年国内旅游收入预计达5万亿元：7月28日，中国旅游研究院发布《2023年上半年旅游经济运行分析与下半年趋势预测》。报告显示，上半年，旅游经济稳步进入“供需两旺，加速回暖”的复苏向上通道。预计今年全国旅游总人次将达到55亿人次，国内旅游收入将达到5万亿元，分别恢复至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.

  碧桂园捐赠64亿港元股权：7月30日晚，港股上市公司碧桂园服务发布公告称，公司控股股东、非执行董事兼董事会主席杨惠妍向国强公益基金会（香港）有限公司捐赠6.75亿股作慈善公益用途。以碧桂园服务最新价9.55港元计算，该笔捐赠的股权价值约为64亿港元，占碧桂园服务总股本的比例约为20%。据悉，此次捐赠股份将用作支持香港及粤港澳大湾区科学、教育文化、健康及青少年成长，资助弱势群体、赈灾以及内地乡村振兴等公益用途。

• 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.

  顺丰或最快8月递交香港第二上市申请：据28日媒体报道，顺丰控股正在推进赴香港第二上市计划，最快将于8月在港交所提交上市申请，募资金额将介乎20亿至30亿美元。早前有消息，顺丰已聘请高盛、华泰证券、摩根大通负责IPO事宜，预期年内上市。有报道指，顺丰早在三年前已跟投行初步讨论香港上市计划。

Earnings reports express

财报速递

• 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.

  海底捞上半年预盈超22亿元：7月30日晚间，海底捞国际控股有限公司发布正面盈利预告。截至2023年6月30日，海底捞来自持续经营业务的收入预计不少于188亿元，去年同期为152亿元，同比增长超过23.7%；持续经营业务净利润预计不低于22亿元，去年同期为0.72亿元，同比增超29倍。对于上半年的业绩大涨，公告中介绍，海底捞上半年营收增长主要由于随着针对新冠疫情的管控措施取消，海底捞餐厅客流量增加，经营好转；及“硬骨头”计划下部分先前关停门店重开后，餐厅数目同比增加。而利润增加主要由于翻台率提升，内部管理及营运改善，餐厅经营效率提升。

A quick look at the stock market

股市收盘情况

• 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股港股红盘收官：周一A股大盘全天冲高回落，三大指数均小幅上涨。截至收盘，沪指涨0.46%，深成指涨0.75%，创业板指涨0.77%。沪深两市成交额近一个月重回万亿。北向资金全天净买入93.47亿元。港股恒生指数涨0.82%，恒生科技指数涨1.87%。

Chengdu FISU World University Games

成都大运会速报

• 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.

  大运会中国队16金5银4铜：截至7月31日17时，中国大学生体育代表团在成都大运会赛场以16金5银4铜的成绩排名暂列成都大运会金牌榜第一。7月31日，中国大学生体育代表团黄博文、梁朝辉在男子双人3米跳板摘金；中国队在艺术体操集体5圈项目摘金；张家齐/掌敏洁获跳水女子双人10米台金牌；贾春迪获柔道女子+78公斤级金牌；宋布寒获男子10米气步枪金牌。

Biz Word of the Day

财经词汇划重点

• 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两地上市相同类型的股票，通过国际托管行和证券经纪商可以实现股份跨市场流通，第二上市的方式主要以存托凭证的形式存在。双重上市的公司需要完全遵守两地交易所的规定，第二上市的公司对于部分规则享有豁免权。

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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编委: 于晓娜

策划、编辑：李艳霞

播音：李莹亮

撰稿：李莹亮，实习生黄青衣

音频制作：黄青衣

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