CBN丨China to extend policies to support property market

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大家好，我是主持人李莹亮。

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重点提要

• Chinese financial regulators extend support to real estate developers;

• Foxconn pulls from US$19.4 billion deal in India to make semiconductors.

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

中国经济要闻

China’s top financial regulators announced on Monday that financial support measures for qualified real estate developers, taken in November 2020, will be extended through the end of 2024, in order to continue to guide more financial support for firms and to ensure deliveries of homes.

In a joint announcement, the People’s Bank of China (PBOC), the country’s central bank, and the National Administration of Financial Regulation (NAFR) said that the expiration date of relevant policy measures announced in November 2020 will be extended, while other policy measures that do not have an expiration date will be in effect in the long term.

That involves two policy measures, according to officials from the PBOC and the NAFR. The first one encourages financial institutions to negotiate with real estate firms and actively provide support through extension of existing loans and adjustment of repayment arrangements to ensure the completion and delivery of projects, the officials said in an Q&A form with media.

The second policy measure, whose expiration date was extended, encourages commercial banks to provide accompanying capital for special loans for projects. Specifically, such loans from commercial banks made before December 31, 2024 will not be downgraded, the officials said.

Both are part of the 16-measure policy support package announced in November 2022, which also includes support for embattled property firms and the rental market. The measures have played a positive role in maintaining reasonable and appropriate real estate financing and helping developers tackle risks, the officials noted.

The newly extended timeline is expected to help ease property firms’ financial pressures, reduce debt risks, and promote the timely delivery of pre-sold homes while boosting business confidence, said the announcement.

7月10日，央行、国家金融监督管理总局发布《关于延长金融支持房地产市场平稳健康发展有关政策期限的通知》（下称《通知》），决定将《关于做好当前金融支持房地产市场平稳健康发展工作的通知》（下称“金融16条”）有关政策有适用期限的，将适用期限统一延长至2024年12月31日。

“金融16条”中有两条政策规定了适用期限：一是房地产企业开发贷款、信托贷款等存量融资方面，第4条明确，自该规定印发之日起，未来半年内到期的，可以允许超出原规定多展期1年，可不调整贷款分类，报送征信系统的贷款分类与之保持一致；二是金融机构配套融资支持方面，第8条明确，自该规定印发之日起半年内，向专项借款支持项目发放的配套融资，在贷款期限内不下调风险分类，对于新发放的配套融资形成不良的，相关机构和人员已尽职的，可予免责。

由于“金融16条”发布于2022年11月11日，即政策已在今年5月11日到期。而最新《通知》明确，对于上述两项政策适用期限，均延长至2024年12月31日。

《通知》还规定，除上述两条政策外，其他不涉及适用期限的政策长期有效。各金融机构应按照文件要求切实抓好落实，因城施策支持刚性和改善性住房需求，保持房地产融资合理适度，加大保交楼金融支持，推动行业风险市场化出清，促进房地产市场平稳健康发展。

“‘金融16条’发布实施后，对保持房地产融资合理适度、推动化解房地产企业风险发挥了积极作用，取得了良好的政策效果。”两部门有关负责人在答记者问时表示，综合考虑当前房地产市场形势，为引导金融机构继续对房地产企业存量融资展期，加大保交楼金融支持，央行、国家金融监督管理总局决定，延长有关政策适用期限。

一位接近监管人士表示，《通知》的出台将缓解房地产开发企业的资金压力，减少金融机构对房企贷款的风险担忧，进一步改善金融机构支持房地产市场平稳健康发展的政策环境。

Moving on to regional highlights

区域观察

• As summer vacations travel season dawns, Northwest China’s Xinjiang has ushered in a travel peak, with Xinjiang Airport Group’s single-day passenger transfers hitting a record high of 150,800 passengers on July 8, breaking the 2019 record high of 132,000. From January to June this year, Urumqi received a total of more than 40 million domestic tourists, a year-on-year increase of 33.35 percent, achieving tourism revenue of 34.8 billion yuan, up 74.32 percent.

  新疆机场进旅客人数创新高：随着暑假旅游季的到来，西北地区的新疆迎来了旅游高峰。7月8日，新疆机场集团单日旅客中转量创下15.08万人次的历史新高，打破了2019年单日旅客13.2万人次的纪录。今年上半年，乌鲁木齐市共接待国内游客4000多万人次，同比增长33.35%，旅游收入348亿元，增长74.32%。

Greater Bay Area, Greater future

新使命，大未来

• The Guangzhou Futures Exchange on Tuesday issued the contracts of lithium carbonate futures and options, effective immediately, in a move to help battery companies anticipate their costs amid wild price swings. For futures contracts, the minimum transaction unit is one ton and the minimum price change is 50 yuan per ton. The biggest single-day increase and decline will be limited to 4 percent and the trading deposit should equal at least 5 percent of the contract value. For options, the minimum price change is 10 yuan per ton. The style will be American instead of European so holders are allowed to exercise the rights even before the day of expiration.

  广期所发布碳酸锂期货期权合约及细则：7月11日，广州期货交易所发布《广州期货交易所碳酸锂期货合约》《广州期货交易所碳酸锂期权合约》《广州期货交易所碳酸锂期货、期权业务细则》，自发布之日起实施。碳酸锂期货合约交易代码为LC，交易单位为1吨/手，最小变动价位为50元/吨，合约涨跌停板幅度为上一交易日结算价的4%，最低交易保证金为合约价值的5%。合约月份为1至12月的月度合约，最后交易日和最后交割日分别为合约月份第10个交易日和最后交易日后第3个交易日。

• Hong Kong Chief Executive John Lee on Tuesday said the government will approve around 60 percent of applications from people seeking to move to Hong Kong under the Top Talent Pass Scheme. An analysis will be conducted in the future to determine the areas of talent the applicants fall into. There have been more than 100,000 applications since the scheme was launched last December, Lee said.

  香港各项输入人才计划反应踊跃：7月11日，香港特区行政长官李家超出席行政会议前会见记者时透露，香港各项输入人才计划反应踊跃。截至今年6月底，即计划推出半年以来，各项输入人才计划的申请已突破10万宗，差不多是每年输入3.5万名人才目标的三倍。根据此前统计，当中约六成申请获批来港。

Next on industry and company news

产业及公司新闻

• Retail car sales in China have risen every month of the first half of this year on a monthly basis. It was the first time it happened since the year 2000. Total retail sales of passenger cars reached 1.9 million units in June, up 8.7 percent from May, according to data released by the China Passenger Car Association yesterday. The monthly sales increases were 7.3 percent in May, 2.5 percent in April, 14.3 percent in March, and 7.5 percent in February. In the first half of the year, retail sales of vehicles inched up 2.7 percent to 9.5 million units from the same period last year, CPCA data also showed.

  中国汽车零售额首次连续半年增长：今年上半年，中国汽车零售额自2000年以来首次逐月增长。7月10日，乘用车市场信息联席会发布数据显示，6月份乘用车零售总额达到190万辆，比5月份增长8.7%。5月份、4月份、3月份和2月份的月销售额分别增长了7.3%、2.5%、14.3%和7.5%。中国电子电路行业协会的数据还显示，今年上半年，汽车零售额比去年同期小幅增长2.7%，达到950万辆。

• Foxconn, the world’s biggest contract electronics manufacturer, has pulled out of a nearly $20-billion semiconductor joint venture with an Indian company. Foxconn said in a statement on Tuesday it “has determined it will not move forward on the joint venture with Vedanta.” In September 2022, Foxconn signed a deal with Indian mining firm Vedanta to invest $19.4 billion in the Indian state of Gujarat, also the home state of Indian Prime Minister Narendra Modi, to build one of India’s first semiconductor manufacturing facilities.

  富士康退出印度芯片工厂计划：7月11日富士康发布声明称，已退出与印度韦丹塔集团价值近200亿美元的半导体合资企业。2022年9月，富士康与印度矿业公司韦丹塔签署协议，将在印度总理莫迪家乡古吉拉特邦投资194亿建设印度首批半导体制造厂之一。

• The China Mobile Research Institution (CMRI) and Origin Quantum Computing Technology Co have realized the first case of algorithm verification based on a real universal quantum computer in China, scientists said on Monday, further validating the feasibility of quantum computing for applications in mobile telecom networks, especially the next-generation 6G.

  首例通信网络优化算法验证成功：7月10日，中国移动通信有限公司研究院与本源量子计算科技股份有限公司成功实现中国首例基于通用量子计算机真机的通信网络优化算法验证，初步证明了量子算法在通信网络，特别是6G应用中的可行性。

• China Great Wall Industry, a commercial rocket launch provider, will auction payload space for the first time, according to a media report on Monday. Interested parties can sign up to the auction which will be held at 3 p.m. on July 13. The winners will put payloads on the Long March 6C carrier rocket, whose launch is expected at the end of this year, the report said. The starting price will be 80,000 yuan per kilogram. The ‘shared rocket’ business model is expected to slash the cost of putting commercial satellites into orbit, it added.

  长征系列火箭发射机会首次公开竞拍：10日消息，航天电子采购平台将于7月13日下午3点开始举行长征六号丙运载火箭拍卖，起拍价格为每公斤八万元，符合资格的公司竞拍成功即可搭载上天。该公司称火箭“拼车”发射可以有效降低火箭进入太空成本，满足商业搭载需求。

• Alibaba Group Holding’s supermarket chain Freshippo, also known as Hema Fresh, has opened its biggest supply chain center in Shanghai. The one-million-square-foot hub integrates the processing of agricultural produce, research and development of ready-to-eat foods, cold storage of semi-finished foods, a centralized kitchen, and cold chain logistics distribution, Freshippo said Monday.

  盒马上海开设最大供应链中心：7月10日消息，阿里巴巴集团旗下新零售平台盒马宣布，位于上海浦东新区的供应链营运中心7月正式全面投产，该项目集农产品及生鲜自动化加工中心、成品食材研发、半成品冷冻储藏、中央厨房及冷链物流配送中心于一体，总建筑面积约10.35万平方米，当中包括自动化立体冷库及双层冷库，冷库容量达约47.9万立方米，另外生产加工及中央厨房达约3.6万平方米。该中心是盒马迄今为止面积最大、科技含量最高、投资金额最大的单体项目。

• China’s box office revenue for the summer movie season has exceeded 7 billion yuan as of Tuesday, as over a hundred films are set to release during one of the most lucrative seasons. Crime thriller “Lost in the Stars” raked in over 3 billion yuan and American title “Transformers: Rise of the Beasts” hit 600 million yuan, according to movie data platform Maoyan.

  暑期档票房突破70亿元：据猫眼专业版数据，截至目前，2023年暑期档总票房（含预售）突破70亿元。其中，《消失的她》的票房已突破30亿元，《八角笼中》的票房超9亿元，《变形金刚：超能勇士崛起》的票房超6亿元。据猫眼专业版数据，截至目前，已有114部影片选择在暑期档上映。

• China’s exports of air conditioners are expected to rebound due to heat waves around the globe caused by El Niño. China’s planned output of household air conditioners for exporting rose almost 8 percent so far this month from a year ago and the figure jumped over 12 percent in June, media reported Monday, citing industry data provider ChinaIOL.Com.

  空调6月出口量预计由降转增：受厄尔尼诺现象加剧全球气候变暖影响，中国空调出口量预计出现反弹。7月10日，媒体从调研机构产业在线知悉，今年6月中国家用空调出口排产量同比增长12.2%，7月出口排产量同比增长7.9%。

Switching gears to financial news

金融市场消息

• An arm of state-owned conglomerate China Merchants Group has made a $3.4 billion takeover bid for Chindata Group Holdings Ltd., setting up a bidding war for the Asian data center operator. China Merchants Capital Holdings (International) Ltd. made a non-binding offer of $9.20 in cash per American depositary share, according to a statement Monday. The bid compares to a rival offer of US$8 per ADS from Bain Capital.

  招商资本拟34亿美元收购秦淮数据：招商局资本7月10日在官网公告，其于2023年6月向秦淮数据集团董事会特别委员会提出了一份非约束性初步要约，拟以每股A类或B类普通股4.60美元现金，或每股美国存托股份（ADS）9.20美元现金收购公司所有已发行的普通股，包括以美国存托股份代表的A类普通股。拟议交易现金价值约为34亿美元，提供较贝恩股东提出的收购价格高出15%的溢价。

• China UnionPay, the world’s most popular debit card provider, is teaming up with the Cambodian central bank to allow Cambodian citizens to make worldwide payments using UnionPay’s QR code payment network. The tie-up will connect Cambodia’s digital currency Bakong with UnionPay’s mobile payment solutions, according to UnionPay on Monday. This will enable people living in Cambodia to make payments using their Bakong Wallets by scanning UnionPay QR codes at local, Chinese and international stores.

  中柬合作推动跨境二维码支付互联互通：中国银联子公司银联国际与柬埔寨央行10日在金边签署合作备忘录，约定推动跨境二维码业务互联互通，双向服务中柬两国居民跨境移动支付需求。据了解，合作落地后，柬居民将可直接在全球银联二维码网络中使用本国钱包支付，满足来华和跨境移动支付需求。柬本地二维码也将通过聚合银联支付信息，支持云闪付App、境内接入云闪付的商业银行App扫码支付。

Wrapping up with a quick look at the stock market

股市收盘情况

• Chinese stocks extended gains on Tuesday with the benchmark Shanghai Composite up 0.6 percent and the Shenzhen Component rising 0.8 percent. Hong Kong’s Hang Seng index also climbed 1 percent, and the TECH index added 1.5 percent.

  A股港股继续收跌：周二大盘全天震荡反弹，三大指数均小幅上涨。截至收盘，沪指涨0.55%，深成指涨0.78%，创业板指涨0.81%。沪深两市今日成交额7737亿，较上个交易日放量123亿。北向资金全天净买入34.89亿元。港股恒生指数涨0.97%，恒生科技指数涨1.47%。

Biz Word of the Day

财经词汇划重点

• A quantum computeris a computer that exploits quantum mechanical phenomena. At small scales, physical matter exhibits properties of both particles and waves, and quantum computing leverages this behavior using specialized hardware. A large-scale quantum computer could break widely used encryption schemes and aid physicists in performing physical simulations; however, the current state of the art is largely experimental and impractical, with several obstacles to useful applications.

  量子计算机是一类遵循量子力学规律进行高速数学和逻辑运算、存储及处理量子信息的物理装置。当某个装置处理和计算的是量子信息，运行的是量子算法时，它就是量子计算机。量子计算机的特点主要有运行速度较快、处置信息能力较强、应用范围较广等。与一般计算机比较起来，信息处理量愈多，对于量子计算机实施运算也就愈加有利，也就更能确保运算具备精准性。

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

编委: 于晓娜

策划、编辑：李艳霞

播音：李莹亮

撰稿：李莹亮

音频制作：李莹亮

设计：郑文静、廖苑妮

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