CBN-20211203

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 -Ride-hailing giant Didi announced to delist from NYSE ahead of a potential revision on VIE overseas listing rules; -China reported a fresh hike of 80 new COVID-19 cases.Here’s what you need to know about China in the past 24 hours 中国经济要闻Didi dropped a bombshell this morning. The Chinese ride-hailing giant announced that it will delist from the New York Stock Exchange and pursue a listing in Hong Kong, after running afoul of Chinese regulators over data security by pushing ahead with a blockbuster $4.4 billion IPO in July. The once high-flying tech giant was caught in a regulatory storm at home immediately after its U.S. listing, wiping half its market value.The news came amid market speculation on Beijing’s tightening scrutiny on overseas listings through variable interest entity or VIE structures, which is deem a controversial corporate structure used by companies, including Alibaba, Tencent and Didi, that enables them to sell shares overseas. Under a VIE structure, an offshore-registered company takes control of a mainland-based business through contracts, bypassing pre-listing scrutiny by domestic authorities.Although the China Securities Regulatory Commission (CSRC) denied media reports on Wednesday about banning VIE structures from listing overseas, the watchdog and other government departments, including the National Development and Reform Commission (NDRC) and the Ministry of Commerce (MOFCOM), are formulating new policies to regulate how the VIE structure can be used, media reported. Overseas listings through VIE structures will not be completely banned, and companies will be regulated differently based on which sectors they come under, sources said.According to Chinese state media, new rules to support orderly overseas stock exchange listings by local companies and strengthen oversight of under-regulated ownership structures are expected to be released soon. 从6月30日上市，到12月3日官宣退市，时间只有157天，滴滴究竟经历了什么？12月3日，滴滴出行宣布：“经认真研究，公司即日起启动在纽交所退市的工作，并启动在香港上市的准备工作。”今年7月，滴滴遭网络安全审查停止新用户注册，此后各大平台陆续下架滴滴APP、小程序等应用。7月16日，国家网信办会同公安部、国家安全部、自然资源部、交通运输部、税务总局、市场监管总局等部门联合进驻滴滴出行科技有限公司，开展网络安全审查。近日，相关传闻再度兴起。11月26日，有报道称，中国监管机构要求滴滴管理层拟定由美国退市的计划。出于对数据外泄的担忧，国家网信办责令滴滴制定从纽交所退市的计划，以等待国家批准。监管风暴仍在持续。滴滴相关审查结果还未出炉，其命运走向已经发生重大转折。这一时间点却与最近关于“证监会禁止协议控制架构（VIE）企业境外上市”的传闻十分接近。12月1日，中国证监会相关部门负责人表示，已经注意到了相关媒体的报道，这一消息不属实。有媒体报道称，监管层近期确实在制定有关VIE架构公司的监管办法，国家发改委、证监会、商务部等多部委参与，大方向是支持企业自主选择上市地，VIE企业赴境外上市并不会全面叫停。关于VIE架构企业上市的争论一直是今年资本市场的焦点。VIE企业在境外实现上市的现象在中国科技及新经济企业中十分普遍，如阿里、腾讯、滴滴等中概股公司。专家指出，通过VIE架构的方式，把国内实体企业的利润做到境外公司，再在境外上市。另外，中概股上市前以及整体经营情况、上市后的情况，没有向国内监管报备。因此，红筹或VIE架构境外上市确有必要对其进行监管。目前，加强中概股及VIE架构的监管已被提上日程，但国内监管机构实际上从未禁止VIE架构企业在境外上市。Update on COVID-19疫情简报The Chinese mainland reported 80 new local infections yesterday, among which 56 are from Hulunbeir of Inner Mongolia, 10 in Heilongjiang Province and 10 in Yunnan. Beijing and Shanghai also spotted new cases. 全国昨日新增本土病例80例（内蒙古56例，均在呼伦贝尔市；黑龙江10例，均在哈尔滨市；云南10例，均在德宏傣族景颇族自治州；上海2例，均在浦东新区；北京1例，在海淀区；陕西1例，在咸阳市）。 Next on industry and company news产经消息及公司新闻Alipay, Ant Group’s third-party mobile payments platform, said yesterday that it has achieved nationwide interoperability of QR payment codes with China UnionPay to meet regulatory requirements. Users can now scan Alipay’s QR codes via the apps of banks, UnionPay’s Cloud QuickPass and other institutions to make payments.支付宝向银联开放付款码：12月2日，支付宝官方微信公众号发文表示，已与中国银联在全国范围内实现收款码互扫互认。支付宝与中国银联共同推动互联互通，完成了28家银行和机构的开放合作。用户可以通过各银行、云闪付及其他机构的App扫描支付宝收款码进行付款。Tencent Holdings intends to issue about 24 percent of its workers HK$2.1 billion (USD270 million) worth of shares to attain talents via the internet giant's third employee equity incentive program this year. Tencent will grant 4.4 million shares to at least 25,700 employees, the Shenzhen-based firm said in a statement on Wednesday.腾讯人均“重奖”超8万港元：12月1日，腾讯发布公告称，董事会已决议根据公司股东于2021年股东周年大会上授予的一般授权发行合共约441.08万股新股份，借以根据2019年股份奖励计划向不少于2.57万位奖励人士授予合共约441.08万股奖励股份。China is expected to resume 737 MAX flights by the end of this year or early next year, and the introduction of new aircraft will be restarted, China's civil aviation regulator said on Friday.737MAX有望年底复飞：中国民航局相关负责人在今天举行的新闻发布会上发布，波音737MAX飞机有望于今年年底或明年年初陆续恢复国内现有机队的商业运行，并重新启动新飞机引进。 China’s No. 2 distiller Wuliangye is planning to raise the factory gate prices of its high-end products, a move that could encourage other liquor-makers to hike their prices. The Sichuan province-based producer of “baijiu” notified dealers that it will be raising its flagship product’s price by 9 percent to 969 yuan ($152) per half-litre bottle.“五粮液”三年来首次提价：据媒体报道，经销商第八代五粮液的平均出厂价从889元将提升为969元，增幅近9%。此举可能拉开白酒全行业性涨价的大幕。China's State Tobacco Monopoly Administration issued draft rules on Thursday to manage e-cigarettes, saying that companies selling e-cigarettes in China must meet national standards to register with the tobacco authority and do business legally. E-cigarette giant SMOORE soared nearly 15 percent yesterday before retreating 6 percent today, and the New-York traded RLX gained 7.8 percent on Thursday.电子烟监管靴子落地：12月2日下午，国家烟草专卖局就《电子烟管理办法(征求意见稿)》向社会公开征求意见。《管理办法》指出，从事电子烟生产、批发和零售业务的市场主体须相应取得烟草专卖行政主管部门核发的许可证。当日全球雾化设备龙头思摩尔国际港股午后直线拉升，大涨14.68%，今日回落6%。中概股雾芯科技周四涨7.79%。Wrapping up with a quick look at the stock market最后来看股市收盘情况Chinese stocks closed higher on Friday with the Shanghai Composite back above 3600 points, gaining 0.94 percent. The Shenzhen Component edged up 0.86 percent. The Hang Seng Index closed down 0.09 percent, dragged by a slump of the tech sector. A股今日微幅高开，午后权重板块发力，沪指重返3600点上方。截至收盘，沪指涨0.94％，报3607.43点，深成指涨0.86％，报14892.05点。恒生指数收跌0.09%，互联网科技股重创，恒生科技指数跌1.53%。