CBN-20220112

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-China’s CPI and PPI slowed in December, leaving 2021’s consumer inflation below 1%;-Central China’s Henan reported over a hundred cases on Tuesday in the latest outbreak.Here’s what you need to know about China in the past 24 hours 中国经济要闻China's inflation gauge consumer price index (CPI) rose 1.5 percent year-on-year in December, while the factory gate prices or PPI surged 10.3 percent, both edging down compared with November's figures, according to official data released by the National Bureau of Statistics (NBS) on Wednesday. The consumer market was generally stable in December due to coordinated measures to stabilise supply amid recent outbreaks of COVID-19 across multiple Chinese cities, a senior statistician from the NBS explained.On a monthly basis, the CPI edged down by 0.3 percent from November. The NBS attributed the main source of CPI slowdown to the fall in food prices, particularly pork, as supply of food recovered from disruptions caused by bad weather in October and November.On the other hand, the growth of PPI came down 1.2 percent compared with November on the fall of major industry products as stabilisation policy took effect. The NBS data show the coal price has continued to fall, and prices for steel, cement and other building materials also dropped due to weaker demand across the winter months.For the full year of 2021, China’s CPI grew by 0.9 percent, down from a rise of 2.5 percent in 2020, and well below Beijing’s target of around 3 percent. Meanwhile, PPI grew by 8.1 percent in 2021, pushed by global supply chain crunch and raw material price hike. Economists believed that China’s factory-gate inflation will continue to moderate going forward and that consumer price inflation will remain muted.随着12月CPI、PPI数据出炉，中国2021年全年的通胀水平露出了全貌。1月12日，国家统计局发布数据显示，2021年12月份居民消费价格指数（CPI）同比上涨1.5%，涨幅比上月回落0.8个百分点。国家统计局城市司高级统计师董莉娟解读，12月份，国内疫情多点散发，各地区各部门统筹推进疫情防控和保供稳价，消费市场总体平稳。PPI方面，12月份，保供稳价政策效果持续显现，叠加原油等部分国际大宗商品价格走低影响，工业品价格有所回落。从同比看，PPI上涨10.3%，涨幅比上月回落2.6个百分点。从全年来看，2021年CPI比上年上涨0.9%，低于全年3%左右的预期目标，全年PPI则比去年上涨8.1%。分析认为，随着投资、消费端的边际修复带动相关服务业价格回升，以及猪肉价格对CPI上行的拖累逐渐减轻，CPI全年或将出现小幅上行走势，但CPI缺乏大幅上行基础，难以出现大幅上涨。同时，随着全球货币政策转向、供需不均现象的逐步改善，全球通胀水平或有所缓和，与此同时，保供稳价政策将支持PPI增速向常态水平回归，今年PPI将继续逐步回落。Update on COVID-19疫情简报Mainland China reported 166 domestic cases on Tuesday, with 118 in Henan province, 33 in Tianjin, 8 in Xi’an city of Shannxi, and 7 in Shenzhen city of Guangdong. Henan’s Zhengzhou city has conducted six rounds of citywide nucleic acid testing in six days. Dine-in services and schools have been suspended since Saturday. Tianjin has tightened exit controls by canceling 97 percent of flights, as the city had counted a total of 97 cases as of midday Tuesday.1月11日，内地新增本土病例166例（河南118例，其中安阳市65例、许昌市41例、郑州市12例；天津33例，其中津南区28例、西青区3例、河西区2例；陕西8例，均在西安市；广东7例，均在深圳市）。河南近日新增病例急增，为防控疫情，郑州暂关非生活必需场所。而天津新冠奥密克戎毒株疫情仍在发展，离津出行受到严格管控，航班铁路大面积取消，进出港航班取消率高达97%。Next on industry and company news产经消息及公司新闻China on Tuesday unveiled new guidelines to boost foreign trade and keep exports and imports stable, including further opening up the economy and supporting medium, small and micro-sized foreign trade companies. The guidelines detailed 15 measures including incentives for new forms of businesses in foreign trade. Also, the yuan exchange rate will be kept stable at a reasonable level, and China will help these companies hedge against foreign exchange risks.中国力求进一步稳定外贸：1月11日，国务院办公厅印发《关于做好跨周期调节进一步稳外贸的意见》，旨在进一步扩大开放，扶持中小微外贸企业，促进外贸平稳发展。《意见》提出15条政策措施，主要内容包括进一步鼓励外贸新业态发展，保持人民币汇率在合理均衡水平上基本稳定，引导提升外贸企业汇率避险意识与能力。China will build 6.5 million low-cost rental housing by 2025 across 40 major cities, as the government seeks sustainable alternatives to a slumping property market, an official with the Ministry of Housing and Urban-Rural Development announced Tuesday.2025年前新增650万套保障性住房：1月11日，国新办发布会上，住建部住房保障司负责人潘伟介绍，“十四五”期间在40个重点城市，计划新增保障性租赁住房650万套。Foxconn Technology Group, the world's largest contract electronics manufacturer and a key supplier of Apple, said its plants in Zhengzhou, capital of Central China's Henan province, are currently in normal operation, despite more COVID-19 cases in the city. 富士康指郑州工厂生产正常：目前正值苹果公司产品销售旺季，富士康发言人表示，富士康郑州工厂生产经营正常，目前疫情未对产能造成影响。河南郑州目前已开启第三轮全员核酸检测。PetroChina, the country's biggest oil producer, expected the net profit attributable to shareholders in 2021 to increase by 71 to 75 billion yuan, or a jump of as much as 400 percent, notching a seven-year high, the petrol giant released on Wednesday.中石油2021年净利润最多增4倍：1月12日中国石油公告，预计2021年实现归属于本公司股东的净利润与上年同期相比，将增加人民币710亿元到750亿元，增长374%到395%，创近七年同期最好水平。Switching gears to the financial sector金融市场要闻Goldman Sachs cut its forecast for China’s economic growth this year to 4.3 percent citing the increased difficulty of containing the more contagious Omicron variant. At the same time, World Bank said on Tuesday that the global economy is on track to grow by 4.1 percent in 2022, down 0.2 percent from a previous projection.高盛下调2022中国经济增长预期：高盛集团将2022年中国经济增长预期由4.8%下调到4.3%，原因在于新冠病毒奥密克戎变种传染性更强，疫情防控难度加大。此外，包括高盛首席中国经济学家闪辉在内的多名经济学家表示，疫情相关的封锁措施也会使GDP增速放缓，但这部分影响可由放宽财政和货币政策抵消。同时，世界银行11日发布最新一期《全球经济展望》报告，预计2022年全球经济增长4.1%，较此前预测下调0.2个百分点。Chinese trust companies were reported on Monday to have been told by financial regulators to cut shadow lending by 20 percent as part of a drive to eliminate high-risk products. Regulators are determined to reduce the scale of trust funds that act like a bank and lend at high rates to clients with speculative projects, such as property developers and coal miners, who cannot get loans from banks. 融资类信托继续压降20%：1月10日，媒体报道，已有信托公司收到窗口指导，监管要求将融资类信托业务规模继续压降20%。压降融资类信托业务和通道类信托业务是防范行业风险，避免行业盲目扩张带来风险隐患，促进行业可持续发展的必然要求。Wrapping up with a quick look at the stock market最后来看股市收盘情况Chinese stocks inched up on Wednesday with ready meal concept stocks and ultra-high-pressure sector rising across the board. The Shanghai Composite gained 0.84 percent, and the Shenzhen Component closed 1.39 percent higher. The Hang Seng Index surged 2.79 percent as the TECH Index spiked almost 5 percent, the biggest gain in more than 3 months.周三A股上扬，沪指收涨0.84%，深成指涨1.39%。预制菜概念股、特高压板块掀涨停潮。港股恒生指数涨2.79%，恒生科技指数大涨4.99%，创2021年10月7日以来最大单日涨幅。Biz Word of the Day财经词汇划重点A Shadow Banking System is the group of financial intermediaries facilitating the creation of credit across the global financial system but whose members are not subject to regulatory oversight.影子银行是指游离于银行监管体系之外、可能引发系统性风险和监管套利等问题的信用中介体系（包括各类相关机构和业务活动）。