CBN-20220302

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 commerce ministry vows to proactively align with high-level international economic and trade rules and sign more FTAs to boost digital economy;-The NDRC moves to further improve coal market pricing mechanism.Here’s what you need to know about China in the past 24 hours 中国经济要闻China is taking the initiative to promote free trade agreements (FTAs) in line with international economic and trade rules, comprehensively deepening reform and accelerating system-oriented opening-up, Chinese Minister of Commerce Wang Wentao said on Tuesday.China has officially filed an application to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Digital Economy Partnership Agreement (DEPA) last year.According to CPTPP rules, China is improving or modifying some laws and reform initiatives. At present, China is in contact with relevant members in accordance with the CPTPP accession procedures.Vice-minister of commerce Wang Shouwen noted that some provisions of the CPTPP are complex, but it is consistent with the general direction of China's reform and opening up drive. For example, the core CPTPP provisions on SOEs ask for a level playfield for SOEs and other types of enterprises, and that is in line with China's ongoing market-oriented reforms of SOEs.The vice-minister also said the high-standard rules of the CPTPP on e-commerce are also aligned with China's efforts to participate in global digital cooperation and continuously improve the business climate for the digital sector. The Chinese authorities have been formulating regulations for the implementation of the three laws unveiled in recent years on data security, cyberspace security and personal information protection, respectively. During the process, the Chinese authorities concerned have been figuring out how to meet the requirements of the CPTPP rules.According to the ministry, China has signed 19 FTAs with 26 countries and regions, with FTA partners covering Asia, Oceania, Latin America, Europe and Africa, and trade volume accounting for 35 percent of the country's overall foreign trade.  在3月1日国新办举行的新闻发布会上，商务部部长王文涛表示，去年中国正式申请加入全面与进步跨太平洋伙伴关系协定（CPTPP）和数字经济伙伴关系协定（DEPA）。目前，中方同两个协定的缔约方开展了接触、沟通和磋商，也在主动对标国际高标准经贸规则，全面深化改革，加快制度型开放。商务部副部长兼国际贸易谈判副代表王受文表示，CPTPP的内容非常广泛，有一些条款更加复杂、敏感，但是它和中国改革开放大方向是一致的。比如，国有企业CPTPP的规则要求国有企业和其他各类企业要公平竞争，这与中国所坚持的国有企业市场化改革方向是一致的。同时，王受文表示，CPTPP关于电子商务的相关规定水平很高，它的规制、规定方向也和中国参与国际数字经济合作、持续优化数字营商环境方向是一致的。最近几年中国通过了数据安全法、网络安全法和个人信息保护法三部法律，现在有关部门正在制定与这三部法律相配套的相关实施条例、实施细则，商务部会同相关部门在制定这些实施条例或者细则的时候，也结合CPTPP的规定努力达到CPTPP规则的要求。根据商务部数据，中国已经与26个国家和地区签署19个自贸协定，自贸伙伴覆盖亚洲、大洋洲、拉丁美洲、欧洲和非洲，和自贸伙伴的贸易额占整个贸易额35%左右。 China’s top economic planner has called for the smooth transmission between coal and electricity prices through market-oriented means, which will help stabilise coal and electricity prices and the energy costs of enterprises, thus provide strong support for maintaining stable economic operation, the NDRC said in a teleconference Monday.  完善煤炭市场价格形成机制：2月28日，国家发展改革委对进一步完善煤炭市场价格形成机制工作进行全面部署安排。会议指出，进一步完善煤炭市场价格形成机制，引导煤炭价格在合理区间运行，促进煤、电价格通过市场化方式有效传导，有利于稳煤价、稳电价、稳企业用能成本，为保持经济平稳运行提供有力支撑。Update on COVID-19疫情简报The Chinese mainland added 71 locally transmitted cases on Tuesday, among which 32 were in Guangdong province and 16 in Inner Mongolia.3月1日，内地新增本土病例71例（广东32例，其中深圳市25例、东莞市6例、珠海市1例；内蒙古16例，均在呼和浩特市；吉林4例，均在延边朝鲜族自治州；黑龙江4例，其中哈尔滨市2例、牡丹江市2例；山东4例，均在青岛市；四川3例，均在成都市；辽宁2例，均在葫芦岛市；广西2例，均在防城港市；天津1例，在滨海新区；山西1例，在晋中市；上海1例，在普陀区；云南1例，在德宏傣族景颇族自治州）。Next on industry and company news产经消息及公司新闻China’s acute shortage of car chips is gradually easing as chipmakers ramp up production, but demand still outstrips supply, said the Ministry of Industry and Information Technology (MIIT) on Monday, adding that the situation could continue to affect production schedules for cars and their parts.汽车芯片供应仍有缺口：2月28日，在国务院新闻办公室举行的发布会上，工业和信息化部副部长辛国斌指出，汽车芯片供应短缺情况已在逐步缓解，但相对整车和零部件企业的需求和排产计划来看，目前仍然还有一定的缺口。Chinese tech giant Baidu reported its total revenue rose 9 percent year-on-year to 33.1 billion yuan in the fourth quarter of 2021, while the Non-GAAP net profit stood at 4.1 billion yuan. The company’s total revenue increased 16 percent year-on-year to reach 124.5 billion yuan last year. 百度四季度盈利超预期：3月1日，百度发布了截至2021年12月31日的第四季度及全年未经审计的财报。2021年，百度营收1245亿元，同比增长16%。第四季度，百度实现营收331亿元，归属百度的净利润（非美国通用会计准则）达到41亿元，2021财年内连续四个季度超市场预期。Chinese home appliances giant Gree Electric Appliances has confirmed its intention to spin out some of its equipment and core industrial component businesses before taking them public, Dong Mingzhu said during a general shareholders’ meeting on Monday at which she was reappointed as chairwoman for a fourth term. 格力电器拟分拆上市：2月28日，格力电器董事长董明珠确认希望格力电器几大板块分拆上市。此前，董明珠在采访中说，下一步准备将装备、工业核心部件领域的业务分拆上市。IM Motors, a joint venture among China's SAIC Motor, e-commerce giant Alibaba and Shanghai's Zhangjiang Group, will launch its first production model later this month. The premium electric marque started on Monday manufacturing of the model at its plant in Shanghai.上汽阿里联手造车投产：2月28日，智己L7量产车在上汽集团临港智能工厂正式投产。智己汽车是由上汽集团、张江高科、阿里巴巴集团联合打造的国产高端智能纯电动汽车品牌。公司透露，目前智己L7的上市和用户交付，已进入倒计时。Switching gears to the financial sector金融市场要闻China has curbed its property market bubble as risks in key areas continued to be brought under control in 2021, Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, said at a press conference Tuesday. The financial leverage ratio has plunged 8 percent and the momentum of real estate bubble and financialisation has been fundamentally reversed, Guo said.房地产泡沫化势头扭转：3月2日，中国银行保险监督管理委员会主席郭树清在国新办新闻发布会上表示，2021年，重点领域风险持续得到控制，宏观杠杆率下降了大约8个百分点，金融体系内的资产扩张恢复到较低水平，再次回到了个位数。地方政府隐性债务状况趋于改善，房地产泡沫化金融化势头得到根本扭转。All 86 companies listed on the Beijing Stock Exchange had unveiled their preliminary earning figures for 2021 by Monday, with 85 reporting profits. The average net profits of the 85 firms was 85.23 million yuan, according to the latest data from the Beijing bourse. 北交所盈利面达99%：3月1日，北交所公布数据显示，截至2月28日，86家北交所上市公司已全部披露2021年度业绩快报，其中85家公司均实现盈利，盈利面达99%。85家实现盈利的公司净利润平均数为8523万元。Wrapping up with a quick look at the stock market最后来看股市收盘情况Chinese stocks closed lower on Wednesday despite the booming China-Russia trade concept stocks and the gains in oil and gas sector. The benchmark Shanghai Composite lost 0.13 percent, and the Shenzhen Component was down 1.05 percent. The Hang Seng Index slumped 1.84 percent, as real estate, tech and education sectors recorded losses.周三A股下跌，沪指跌0.13%，深成指跌1.05%。板块方面，中俄贸易概念、油气开采等板块涨幅居前。恒生指数收跌1.84%，房地产股、互联网科技股、教育股全数走低。Biz Word of the Day财经词汇划重点Non-GAAP earnings are an alternative accounting method used to measure the earnings of a company. Many companies report non-GAAP earnings in addition to their earnings based on enerally Accepted Accounting Principles(GAAP).Non-GAAP(非美国通用会计准则)财务计量是指上市公司除了按照GAAP和其他法规准则要求进行财务披露外，还需要以其他财务计量的方式对企业的经营活动、财务状况及现金流量进行披露。