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
Shanghai takes 50 measures to support economy as city eyes full recovery from COVID-19 from Wednesday；
Hong Kong-Mainland ETF Connect may start in two months.
Here’s what you need to know about China in the past 24 hours
中国经济要闻
Shanghai authorities on Sunday sent a clear signal of economic stabilisation by rolling out a total of 50 stimulus measures to support the local economy, with a focus on business resumption and employment stabilisation, as the city inches toward a full recovery from the most severe COVID-19 outbreak.
In terms of production, starting from Wednesday, Shanghai will scrap the work resumption "white list" mechanism and other restrictions on companies that want to restart work or business.
At the same time, the city will promote work resumption in all sectors by expanding the scope of subsidies for enterprises' epidemic prevention and disinfection, stabilising industrial and supply chains in the Yangtze River Delta, and smoothing domestic and international logistics and transportation channels.
The city will reduce rent, property tax and urban land use tax for qualified enterprises. It will also grant subsidies for non-resident users regarding water, electricity and natural gas fees.
A key part of the action plan is to stabilise foreign investment and trade as well as to accelerate the recovery of consumption and investment.
Shanghai will establish a mechanism to arrange designated personnel to aid work resumption of key foreign-funded enterprises and launch an online service system for major foreign-funded projects. And it will start the application process for special funds to develop the regional headquarters of multinational corporations in Shanghai ahead of schedule in 2022.
The city will gradually reduce the purchase tax on some passenger vehicles as required by national policies. It will also provide subsidies to consumers who replace cars with pure electric ones, and support large commercial enterprises and e-commerce platforms in issuing consumption coupons.
The plan also includes measures related to the real estate industry, including promoting the healthy development of real estate development and investment, and establishing a green channel for approving real estate projects.
5月29日，上海市政府发布《上海市加快经济恢复和重振行动方案》(以下简称《行动方案》)，50条政策措施聚焦稳外资、促消费、扩投资等多方面内容。
根据《行动方案》，上海将于6月1日起取消企业复工复产审批制度。同时，出台扩大企业防疫和消杀补贴范围、建立长三角产业链供应链互保机制、畅通国内国际物流运输通道等政策措施，支持各行业领域复工复产复市，稳步提高企业达产率。
市场主体方面则着力减负，除减免房租外，上海将对符合条件的企业减免房产税和城镇土地使用税，对非居民用户给予3个月应缴水费、电费、天然气费10%的财政补贴，免收3个月单位生活垃圾处理费等。
在稳外资方面，上海将建立重点外资企业复工复产专员服务机制，启用重大外资项目线上服务系统，提前启动2022年上海市鼓励跨国公司地区总部发展专项资金申报工作，进一步支持跨国公司在沪设立地区总部和外资研发中心，着力稳定外资企业预期和信心。
在促消费方面，上海将以大宗消费为抓手，年内新增非营业性客车牌照额度4万个，按照国家政策要求阶段性减征部分乘用车购置税，对置换纯电动汽车的个人消费者给予一次性10000元补贴，支持大型商贸企业和电商平台发放消费优惠券，支持文创、旅游、体育产业发展，大力促进消费加快恢复。
此外，此次政策明确要促进房地产开发投资健康发展，建立房地产项目前期审批绿色通道，及时启动新一批次市场化新建商品住房项目上市供应，进一步缩短前期开发、拿地、开工、销售全流程时间等。
Greater Bay Area, Greater Future
新使命，大未来
Two mega-kilowatt pumped storage power plants in the Greater Bay Area officially started power generation on May 28, marking the power grid capacity in the GBA leading the world, with the largest installed pumped storage of 9.68 million KW, or twice the electricity capacity of Hainan province. The two pumped storage power plants are constructed by China Southern Power Grid located in Meizhou and Yangjiang in South China's Guangdong Province with a total installed capacity of 2.4 million kilowatts.
大湾区两座抽水蓄能电站投产：5月28日，南方电网广东梅州、阳江两座百万千瓦级抽水蓄能电站同时投产发电，大幅提高了粤港澳大湾区清洁能源消纳能力，促进粤港澳大湾区建成清洁能源比重最高的世界级湾区电网。新投产的两座抽水蓄能电站装机总容量达到了240万千瓦，至此，粤港澳大湾区电网抽水蓄能总装机达到近1000万千瓦，相当于两个海南省的供电能力，可支撑全年消纳清洁能源电量超2100亿度，清洁能源电量占比接近50%。
Shenzhen announced Monday to give out free digital yuan “red packets” to boost local consumption. The city will distribute 30 million digital yuan on May 30 and June 9, through a lottery system on one of China’s biggest food delivery platforms Meituan that gives residents chances to win 88, 100, and 128 yuan red packets that they can use in over 15000 stores.
深圳发3000万元数字人民币红包：为了提振民生消费、助力商户复苏，深圳市宣布将通过美团平台发放3000万元数字人民币红包。5月30日上午10点起，深圳消费者可登陆美团App搜索“乐购深圳”报名参与抽签。中签消费者获得的数字人民币红包，可在深圳市1.5万余家具备数字人民币核销功能的线下商户以及美团平台消费场景中使用。数字人民币红包在美团平台共发放两轮，抽签开始时间为5月30日和6月9日的上午10时。消费者参与活动有机会中签88元、100元、128元无门槛数字人民币红包。
The national security law in Hong Kong has further consolidated the city's role as an international financial centre, Paul Chan, financial secretary of the Hong Kong SAR, said on Sunday. IPO funds raised in Hong Kong exceeded HK$650 billion since the implementation of the law, accounting for an increase of more than 30 percent from the same period before the enactment of the law, he added.
国安法巩固香港金融中心地位：香港特区政府财政司司长陈茂波29日表示，香港国安法从法制上维护国家和香港安全，为香港社会创造了安全稳定的环境，香港国际金融中心的地位得到进一步巩固。陈茂波以数字佐证他的观点：香港国安法实施至今，香港的新股集资额超过6500亿港元，较实施前的同一时期增加超过三成。
Update on COVID-19
疫情简报
Streets in Beijing were busier on Monday as residents in two districts were allowed to return to work, as the capital sees no community transmission of COVID-19 since Friday. The districts of Fangshan and Shunyi will end work-from-home rules, while public transport will largely resume in the two districts as well as in Chaoyang, the city's largest, Beijing municipal officials said Saturday.
北京房山顺义正常上班：5月28日，北京市召开新型冠状病毒肺炎疫情防控工作新闻发布会。北京市委宣传部副部长、市政府新闻发言人徐和建发布关于分区分级动态实施全市社会面防控的措施。其中，房山区、顺义区由居家办公调整为正常上班。连续5日无新增社会面病例的朝阳区、通州区适当提高到岗率。除封管控区外，朝阳、顺义、房山等三个区恢复公交、地铁、出租车等公共交通运营服务。
Negative results for nucleic acid tests obtained within 72 hours will be required to enter public venues and taking public transportation in Shanghai from Wednesday, as the megacity inched closer towards lifting its two-month old COVID-19 lockdown, local authority said on Sunday, to consolidate the achievements of epidemic prevention efforts. Additionally, personnel leaving Shanghai have to present negative nucleic acid test results obtained within 48 hours as well as negative antigen tests results obtained within 24 hours.
上海调整核酸检测要求：5月29日，上海市召开新冠肺炎疫情防控新闻发布会。发布会指出，6月1日起，进入有明确防疫要求的公共场所和搭乘公共交通工具的人员，须持72小时内核酸检测阴性证明。离沪人员仍需提供48小时内核酸检测阴性证明和24小时内抗原检测阴性证明。
Beijing-based Zhongtong Lanbo Medical Examination Lab was scrutinized by the police on Sunday for improper testing process. This is the third case of a virus testing lab under investigation in Beijing in the last nine days. Beijing Jinzhun Medical Testing Laboratory was charged on Friday and the license of Beijing Pushi Medical Laboratory was revoked by the health department on May 21.
北京三家核酸检测机构被查：5月29日，北京中同蓝博医学检验实验室涉嫌违法犯罪被立案侦查，这是继5月21日北京朴石医学检验实验室有限公司、5月27日北京金准医学检验实验室有限公司在内的第三起第三方核酸检测机构被立案侦查事件。北京市公安局表示，卫健委会同市场监管、公安等部门持续对全市核酸检测机构进行督查检查。
Next on industry and company news
产经消息及公司新闻
The largest unmanned retail operator in China, Beijing Ubox Online Technology has filed for an initial public offering in Hong Kong. It had more than 102,700 vending machines across 288 cities as of last year, the Ant Group-backed firm said in the prospectus.
友宝递表港交所：5月27日，号称“中国最大的无人零售经营商”北京友宝在线科技股份有限公司向港交所递交招股书。截至去年，友宝在线拥有全国规模最大的自动售货机网络，点位网络由超过102,700个自动售货机友宝点位及附属点位组成，遍布中国288个城市。
Earnings reports express
财报速递
Alibaba Group Holding, a bellwether stock for consumer sentiment in China, reported late Thursday a net revenues totalled 204.1 billion yuan in the fourth quarter, improved 9 percent from the prior-year quarter, beating market estimate. The e-commerce giant generated 140.3 billion yuan of revenues from the segment of China Commerce, which rose 8 percent year over year, thanks to positive contributions from direct sales businesses like Tmall Supermarket and Freshippo. Yet the company did not offer its usual revenue forecast for the coming fiscal year, citing "risks and uncertainties" arising from COVID-19 that make precise predictions difficult.
阿里巴巴Q4营收增长9%：5月26日晚间，阿里巴巴发布截至2022年3月31日的财年第四季度业绩及2022财年全年业绩。2022财年第四季度，阿里巴巴集团营收2040.52亿元，同比增长9%；中国商业板块实现营收1403.30亿元，同比增长8％；中国零售商业收入1359.47亿元人民币，较2021年同期增长7%，主要由于盒马鲜生、天猫超市等直销业务贡献收入。财报发布后，阿里方面表示，因内地3月起疫情重燃，国内业务受到重大影响，考虑到无法控制且难以预测疫情带来的风险和不确定性，不会提供今年财务指引。
Pinduoduo’s shares soared in New York after China’s leading group-buying platform turned a profit for four consecutive quarters in the first three months this year. Net profit was 2.6 billion yuan in the period, versus a net loss of 2.9 billion yuan a year earlier, the Shanghai-based company said in its latest earnings report. Revenue rose 7 percent to 23.8 billion yuan, mainly due to an increase in online marketing and transaction services revenue. Average monthly active users increased 4 percent to 751.3 million in the first quarter from the same period a year ago, with active buyers in the 12 months ended March 31 up 7 percent to 881.9 million from a year earlier, the company said.
拼多多连续四个季度盈利：27日，拼多多方面公布了截至3月31日的2022年第一季度财报。其中显示，一季度营收238亿元，同比增长7%，而上一季度同比增长为3%，增速上升4个百分点，增长呈反弹迹象。归属于公司普通股股东的净利润为25.995亿元、上年同期净亏损29.054亿元。在用户数据方面，该季度拼多多APP的平均月活跃用户数为7.513亿、同比增长4%，截至2022年3月31日，拼多多年活跃买家数达到8.819亿、同比增长7%、环比增加1.5%。
Switching gears to the financial sector
金融市场要闻
China’s top securities regulator Friday outlined a plan to add eligible exchange-traded funds to the stock connect programs linking Hong Kong and the mainland as part of efforts to expand access between the two markets. The China Securities Regulatory Commission (CSRC) agreed in principle with the Hong Kong securities regulator to allow investors in the city and the mainland bourses in Shanghai and Shenzhen to trade ETFs in each other’s market following a two-month preparation period.
香港与内地将启动ETF互通：5月27日，中国证监会、香港证监会联合公告称，为进一步深化内地与香港股票市场交易互联互通机制，促进两地资本市场共同发展，中国证监会、香港证监会原则同意两地交易所将符合条件的交易型开放式基金纳入互联互通。联合公告发布之日起至上述方案正式实施，需要2个月左右准备时间，正式实施时间将另行公告。
Assets under the management of China's public offering funds reached 25.52 trillion yuan by the end of April, the latest data from the Asset Management Association of China showed.
公募基金规模逾25万亿：5月27日，中国证券投资基金业协会公布数据显示，截至2022年4月底，我国境内共有基金管理公司138家，管理的公募基金资产净值合计25.52万亿元。
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 Monday with hotels, restaurants and automobile sectors taking the lead, while coal, bank and real estate sectors tumbled the most. The Shanghai Composite edged up 0.6 percent and the Shenzhen Component gained 1.04 percent. The Hang Seng Index closed 2.06 percent higher as the TECH Index gained 3.94 percent.
周一A股集体走强。截止收盘，沪指涨0.6%，深成指涨1.04%，创业板指涨1.2%。板块方面，酒店餐饮、汽车板块涨幅居前，煤炭、银行、房地产服务板块跌幅居前。港股恒生指数收涨2.06%，恒生科技指数收涨3.94%。
Biz Word of the Day
财经词汇划重点
Direct selling is selling products directly to consumers in a non-retail environment. With direct selling, distributors avoid intermediaries in the supply chain and sell products directly to consumers.
直销模式是通过去掉中间商，降低产品的流通环节成本并满足顾客利益最大化需求的一种效率高的营销方式。简言之，即生产商直接把商品销售到顾客手中的减少中间环节和销售成本的一种销售模式。
Executive Editor: Sonia YU
Editor: LI Yanxia
Host: Stephanie LI
Writer: Stephanie LI, ZHANG Ran, XIE Kaishan
Sound Editor: ZHANG Ran, XIE Kaishan
Graphic Designer: ZHENG Wenjing, LIAO Yuanni
Co-produced by 21st Century Business Herald Dept. of Overseas News & SFC Audio/Video Dept.
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、张然、谢凯珊
音频制作：张然 、谢凯珊
设计：郑文静、廖苑妮