CBN丨CSRC: China, U.S. are willing to resolve differences in audit oversight

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 -The CSRC said China and US are both willing to solve audit dispute but wisdom is needed, after five more Chinese firms face delisting risk;-China raises gasoline and diesel prices for the seventh time since the end of last year.Here’s what you need to know about China in the past 24 hours 中国经济要闻Chinese and U.S. securities regulators are both willing to resolve audit oversight differences and problems, China's top securities regulator said Thursday, adding that the final outcome of the talks depends on the wisdom and sincerity of both sides.The comment came after five Chinese firms were added by U.S. Securities Exchange Commission (SEC) on Wednesday to a growing list of companies that may get delisted from the US stock exchanges, including securities brokerage Futu Holdings, tech giant Baidu, video platform iQiyi, CASI Pharmaceuticals and fisheries firm Nocera. This is the third batch of Chinese companies facing delisting risk since the beginning of March. So far, 11 US-listed Chinese companies have been identified by the SEC. These firms face removal if they fail to comply with the requirement to grant access to audit work papers to US regulators for three straight years, meaning they could be delisted as early as 2024.In a statement on Thursday, an official with the China Securities Regulatory Commission (CSRC) said it has learned from US regulators that the addition of some Chinese firms to the list is a "normal" procedure. The CSRC official noted that regulators on both sides have engaged in thoughtful, respectful and productive talks. “CSRC Chairman Yi Huiman and SEC Chair Gary Gensler have held video conferences on three occasions since August last year to discuss the remaining issues regarding audit supervision cooperation,” the official added.The Chinese side has also had multiple rounds of candid, professional, and efficient talks with the U.S. Public Company Accounting Oversight Board (PCAOB). The CSRC official described the progress as “smooth”, adding that the two sides will continue to communicate as both are willing to resolve differences and overcome problems."Whether the companies will actually face delisting in the next two years will ultimately depend on the progress and results of China-US audit and supervision cooperation," the CSRC official said.3月31日消息，根据美国证券交易委员会（SEC）官网消息，包括百度、富途控股、爱奇艺、凯信远达医药和从事渔业养殖的诺斯拉（Nocera）被列入《外国公司问责法》暂定清单。根据SEC的说法，这五家公司需要于4月20日前向SEC提供证据，证明自己不具备被摘牌的条件。若无法证明，则会被列入确定名单。北京时间3月31日上午，中国证监会国际部负责人答记者问时表示：对于一些企业被SEC列入有退市风险的清单，经向美国SEC了解，这是美国监管部门执行《外国公司问责法》的一个正常程序，列入清单的公司是否在未来两年真正退市，最终取决于中美审计监管合作的进展与结果。上述负责人表示，“我们注意到近日美国SEC主席接受媒体电视采访时就双方审计监管合作的表态。正如根斯勒先生所言，双方监管部门进行了深思熟虑、相互尊重和富有成效的对话。”“自去年8月份以来，中国证监会主席易会满和根斯勒主席已三次召开视频会议，商讨解决中美审计监管合作中的遗留问题。中方与美国公众公司会计监督委员会(PCAOB)更是进行了多轮坦诚、专业和高效的会谈，总体进展顺利，双方的沟通还将继续。双方都有意愿解决分歧和问题，最终结果如何，要看双方的智慧和初心。”上述负责人表示。3月31日这一批企业，已经是3月以来第三批被纳入名单的中概股。今年3月8日，SEC将包括百济神州、百胜中国、再鼎医药、盛美半导体、和黄医药在内的5家企业列入“预摘牌名单”，3月23日该名单中又新增了微博公司。按照SEC官网上的法律文件，被列入“确定摘牌名单”的公司需要在三年内提交SEC需要的文件。Next on industry and company news产经消息及公司新闻China has both increased the retail prices of gasoline and diesel by 110 yuan per ton on Friday, the NDRC announced Thursday. This is the seventh consecutive upward adjustment since the end of last year. 汽油、柴油价格“七连涨”：国家发展改革委31日称，自2022年3月31日24时起，国内汽油、柴油价格每吨均提高110元，这是去年年底以来我国连续第七次上调汽油、柴油价格。按一般家用汽车油箱50L容量估测，加满一箱92号汽油，将多花4.5元。 Chinese dairy giant Inner Mongolia Mengniu Dairy Group said that its net profit  reached over 5 billion yuan in 2021, an annual increase of 42.6 percent. Moreover, Mengniu achieved about 88.1 billion yuan in revenue last year, up 16 percent year on year, according to its annual report released on Wednesday. 蒙牛净利增长42.6%：3月30日晚间，蒙牛乳业发布2021年全年业绩公告。财报表示，由于收入增加，加上营运效益提升，蒙牛净利润为50.26亿元，同比增长42.6%；总营收为人民币881.415亿元，同比上升15.9%。Vanke, the country’s second-largest property developer by sales, reported operating income of 452.8 billion yuan in 2021, a year-on-year increase of 8 percent. Net profit dropped 46 percent to 22.5 billion yuan, only the third decline in the 31 years since its listing, due to lower gross profit margins, a drop in investment income and provisions for asset impairment losses, according to the firm on Wednesday.万科上市第三次净利下滑：3月30日晚，万科发布2021年报，年报显示，2021年万科实现营业收入4528亿元, 营业收入增长8%；归属于上市公司股东的净利润225.2亿元，同比下降45.7%。从财务层面看，2021年万科净利润下降源于三方面，包括毛利率下降、投资收益减少和市场下行带来的计提减值。Chinese offshore oil giant China National Offshore Oil Corporation reported that its net profit surged more than two-and-a-half times to 70.3 billion yuan in 2021, and revenue jumped 58 percent to 246 billion yuan, the company said in its latest earnings report released Wednesday. The average price of oil surged 66 percent from a year earlier to $67.89 per barrel.中海油去年净利703亿：3月30日，中海油发布2021年业绩显示，公司实现全年净利润703.20亿元，同比增长181.8%；收入2461.11 亿元，同比增长58.4%。中海油表示，得益于国际油价上行，中国海油平均实现油价为67.89美元/桶，同比增长65.7%。Switching gears to the financial sector金融市场要闻China saw a deficit of 74.9 billion yuan in international service trade in the first two months of 2022, data from the State Administration of Foreign Exchange showed Thursday. China saw a surplus of 548.3 billion yuan in the international trade of goods during the January-February period, while total international trade in goods and services surged 15 percent year on year to 6.81 trillion yuan. 1-2月服务贸易呈逆差：3月31日，国家外汇管理局公布2022年1月份至2月份我国国际货物和服务贸易数据。数据显示，今年1月份至2月份，我国国际货物和服务贸易进出口规模68127亿元，同比增长15%。其中，货物贸易出口32320亿元，进口26837亿元，顺差5483亿元；服务贸易出口4110亿元，进口4859亿元，逆差749亿元。China’s seven-year-old deposit insurance fund had a balance of 96 billion yuan as of the end of 2021 and repaid 23.2 billion yuan of finance stability loans, the People’s Bank of China disclosed Wednesday. More than 4,000 lenders have bought deposit insurance from the fund and paid 46.7 billion yuan of premiums last year, according to the central bank.存保基金余额近千亿元：3月30日，央行官网披露最新的存款保险基金收支情况。截至2021年末，存款保险基金存款余额960.3亿元。值得关注的是，央行首次披露使用存款保险基金232.4亿元归还金融稳定再贷款。公告称，截至2021年末，全国4027家吸收存款的银行业金融机构按规定办理了投保手续。2021年共归集保费467.05亿元，基金利息收入7.44亿元，资金支持到期转回107.33亿元。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 benchmark Shanghai Composite up 0.94 percent, and the Shenzhen Component closed 0.91 percent higher. Shares in shipping, tourism and real estate were among the top gainers. The Hang Seng Index gained 0.19 percent, while the TECH Index fell 0.74 percent.周五A股收盘小幅上涨，沪指涨0.94%，深成指涨0.91%，创业板指涨0.28%。港口水运、旅游酒店、航空机场等板块涨幅靠前，地产股持续爆发。港股收盘，恒生指数小幅收涨0.19%，而互联网科技股走低，恒生科技指数收跌0.74%。Biz Word of the Day财经词汇划重点Deposit Insurance Fund (DIF) maintains stability and public confidence in the country’s financial system is by providing deposit insurance. The primary purposes of the DIF are to insure the deposits and protect the depositors of insured banks and to resolve failed banks.存款保险基金是指由国家、银行业界的出资、存款保险在经营过程中的保费及投资收益积累构成的，在投保银行出现经营危机时，存款保险人用以承担保险责任的专门资金。