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

Epidemic resurgences bring changes to Chinese sightseers’ consumption habits；

China’s central bank backs coal industry with 100 billion yuan of credit.

Here’s what you need to know about China in the past 24 hours

中国经济要闻

China's domestic tourism market has seen a new trend in customer behaviour, with a change from trans-provincial travel to short community-based trips, as epidemic prevention and control entered a new phase during the five-day Labor Day holiday.

Domestic tourism revenue slumped by 43 percent year-on-year to 64.68 billion yuan during the holiday period as recovery was put on hold amid new Covid-19 outbreaks, data from the Ministry of Culture and Tourism revealed Wednesday. Tourists made 160 million trips, down 30 percent from the same period of last year.

Passenger flows across the country have run at a relatively lower level as cities and provinces encourage stay-in in an effort to stifle the spread of the virus. Data from the Civil Aviation Administration of China showed that the number of air passengers transported during the holidays dropped 77 percent year-on-year to 2 million. Meanwhile, China Railway estimated that some 32 million passengers have traveled by rail from April 28 to Thursday, with overall passenger numbers at low levels.

The box office recovery has also taken a step back amid new outbreaks, with total revenue stood at 296 million yuan during the holidays, down 82 percent year-on-year, according to data from ticketing platform Maoyan.

Despite the foreseeable impacts, some businesses significantly rebounded during the holiday, with products such as short-distance or community-based trips gaining more popularity among city residents.

Data from travel platform Qunar.com showed that, as of Wednesday morning, among the passengers who booked train tickets on the platform, those who traveled within their provinces accounted for 70 percent, and the number of bus ticket bookings for travel within provinces increased by more than 50 percent compared with the week before the holiday.

The bookings of picnic-related products tripled year-on-year during the holiday while ticket sales for local parks where people could go for picnics jumped by 40 percent, as corresponding hotel bookings also increased by 1.5 times year-on-year.

今年”五一“小长假，受疫情和出行管控的影响，周边游依旧唱着“主角”。在各地政府优惠政策的激励下，本地人游本地成为假期的主流。

五一假期短途出行较为集中，以铁路出行、公路出游为主。据去哪儿大数据显示，截至5月4日0点，在平台预订火车票的旅客中，省内出行占比超70%，省内出行的大巴票预订量环比假期前一周，增幅超5成。

5月4日，携程发布《2022五一假期出游报告》显示，今年五一小长假，用户出游整体呈现就近、就地特点，本地游订单占比达40%，较2020、2021年同期显著提升。

而“露营”热度的高涨，也使得城市周边显得格外活跃。去哪儿旅行网大数据显示，露营相关产品预订量是去年的3倍，可以露营的公园门票销量同比去年涨幅超四成，部分城市露营地周边酒店预订量同比去年涨幅达1.5倍。

为鼓励人们在五一小长假出游，国务院办公厅于4月25日印发了《关于进一步释放消费潜力促进消费持续恢复的意见》，多地纷纷在节假日前陆续“出大招”。文旅优惠措施层出不穷，湖北、贵州、广东深圳、韶关等地发放文旅消费券，浙江杭州、宁波、温州、绍兴等多地推出消费券、免票游、半价游等措施。

但整体而言，五一假期旅游热度相比往年仍明显偏弱。据文化和旅游部数据中心测算，2022年“五一”假期5天，全国国内旅游出游1.6亿人次，同比减少30.2%；国内旅游收入646.8亿元，同比减少42.9%。

据中国国家铁路集团有限公司数据，2022年全国铁路五一小长假运输于4月28日启动，自4月28日至5月5日，为期8天，预计全国铁路发送旅客3200万人，客流总体处于低位运行。民航局4月28日预测数据显示，预计“五一”假期民航将运输旅客200万人次，日均约40万人次，同比下降77%。

此外，据猫眼数据，2022年五一档总票房2.96亿，同比跌幅超82%。

Greater Bay Area, Greater Future

新使命，大未来

The economy of Hong Kong posted a contraction of 4 percent on a yearly basis for the first quarter, amid weak demand both domestically and externally, the city’s Census and Statistics Department revealed on Tuesday. On the bright side, the city's outbreak has been receding since early March, which has allowed for Hong Kong's gradual easing of social distancing measures and bolster domestic demand for the rest of the year.

香港经济Q1预估下跌4%：香港特区政府统计处3日公布，2022年第一季度香港本地生产总值的预先估计数据同比实质下跌4%，终止先前连续四个季度的增长趋势，主要原因是内部及对外需求表现疲弱。展望未来，特区政府发言人认为，自3月初以来，香港疫情逐渐减退，加上政府各项支持措施，本地需求有望于今年内恢复。

Update on COVID-19

疫情简报

Over 70 percent of Shanghai's 1,800-plus major enterprises have resumed work and production amid the city's COVID-19 resurgence, with the resumption rate of the first batch of more than 660 key enterprises exceeding 90 percent, according to a press conference on epidemic prevention and control held on Thursday. And as of Tuesday, 251 enterprises have gone back to work with more than 40,000 employees under the closed-loop management system in Lingang New Area of the Shanghai Pilot Free Trade Zone.

上海复工复产加速度：5月5日，上海市疫情防控工作新闻发布会上，上海市经信委总工程师张宏韬表示，上海工业企业复工复产有序推进，全市1800多家重点企业，复工率超过70%，其中首批660多家重点企业复工率超过90%。另外，截至5月3日，临港新片区范围内复工复产企业已经达到251家，其中规模以上企业占比达到52%；区内全部在厂封闭生产及管理人员总数40651人，占总用工人数比例为54.2%。

Travelers entering China via Beijing will be subjected to 10 days of concentrated isolation, down from 14 days, plus seven days of home quarantine, the Beijing municipal government announced on Wednesday. Meanwhile, people entering China through other cities who have completed 14 days of quarantine can travel to Beijing if they meet related requirements that match those of other residents.

北京调整入境隔离时间至“10+7”：5月4日，根据奥密克戎变异株潜伏期短、临床症状较轻的特点，首都严格进京管理联防联控协调机制决定，调整北京有关风险人员隔离管理措施：入境口岸为北京的人员，调整为实施“10天集中隔离+7天居家隔离”；入境口岸为国内其他地区的，若在当地集中隔离满14天，即可参照国内人员政策进京。

Next on industry and company news

产经消息及公司新闻

Shares of Contemporary Amperex Technology plunged 8.2 percent today after the Chinese power battery giant reported an over 23 percent decline to 1.5 billion yuan in first-quarter net profit because of surging raw material costs. Revenue soared 154 percent to 48.7 billion yuan.

宁德时代业绩不及预期：动力电池龙头宁德时代股价5月5日开盘大跌10%，最终收跌8.15%，报376元。消息面上，4月29日，宁德时代披露2022年一季度财报，归母净利润同比下跌23.6%至14.9亿元，为自2020年以来首次出现季度同比下跌，不及市场预期三分之一。

Tesla will build a new factory on land near its first plant in Shanghai's Lingang Area, also known as the Gigafactory 3, media reported on Wednesday. After the second plant is completed, it will add 450,000 cars, including Model 3s and Ys, to Tesla's annual production capacity, and take the automaker's annual output in Shanghai to top one million vehicles.

特斯拉将在上海再设厂：5月4日，据媒体报道，特斯拉已明确计划在上海工厂当前临港超级工厂附近，另建一座新工厂以扩大产能。新工厂预计将生产Model 3和Model Y车型，年产能为45万辆。新工厂完成扩建后，将助力特斯拉将上海工厂的总产能提升至每年100万辆。

All 89 companies listed on the Beijing Stock Exchange have unveiled their earning figures for 2021, with 88 reporting profits, the latest data shows Monday. Net profits of the 89 companies totaled 7.25 billion yuan in 2021, up 23.8 percent year on year. In the period, the companies raked in 66.89 billion yuan in revenue, 31.1 percent higher than the previous year.

北交所88家公司实现盈利：5月2日，北京证券交易所发布公告，披露89家北交所上市公司2021年年报，其中，88家上市公司实现盈利。2021年，北交所上市公司共实现净利润72.5亿元，同比增长23.8%；营业收入668.9亿元，同比增长31.1%。

Switching gears to the financial sector

金融市场要闻

China's central bank said on Wednesday that it will adopt normalised supervision of internet platform companies’ financial activities and will support the sector’s healthy development, backing up recent remarks from top policymakers signalling an easing of the year-long tech sector crackdown. The PBOC also vowed to optimise credit policy of the property sector to keep stable and orderly financing to the industry.

央行对平台金融活动常态化管理：5月4日，央行发布消息称，近日召开的专题会议上强调，在党中央、国务院坚强领导下，防范化解重大金融风险攻坚战取得重要阶段性成果，金融风险趋于收敛、整体可控。支持资本市场平稳运行。执行好房地产金融审慎管理制度，及时优化房地产信贷政策，保持房地产融资平稳有序，支持刚性和改善性住房需求。要对平台企业金融活动实施常态化金融监管，促进平台经济规范健康发展。

The PBOC announced a plan on Wednesday to provide 100 billion yuan of credit lines to support coal development and storage as the country seeks to secure its energy supply. The credit lines will be issued through relending facilities to enhance safe coal production and reserves, including modern coal mine construction and green technology application.

1000亿专项再贷款支持煤炭开发: 5月4日，中国人民银行宣布，增加1000亿元支持煤炭清洁高效利用专项再贷款额度，专门用于支持煤炭开发使用和增强煤炭储备能力。专项再贷款采取“先贷后借”的直达机制，按月发放。

The Ministry of Finance said on Tuesday the amount of tax cuts and refunds is expected to reach 2.5 trillion yuan this year. During the time between April 1 and 28, some 625.6 billion yuan has been refunded to businesses.

万亿资金“活水”直达企业：5月3日，财政部副部长许宏才表示，预计全年退税减税约2.5万亿元。从4月1日开始办理微型企业存量和其他行业增量留抵退税以来，截至4月28日，已办理退税6256亿元。

The administrative committee of Lingang new area of the Shanghai free trade zone has announced that United Overseas Bank (UOB) China is expected to open in the third quarter of this year, the first foreign bank landing in Shanghai.

上海临港落地首家外资银行： 5月3日，据中国（上海）自由贸易试验区临港新片区管委会消息，大华银行（中国）有限公司宣布将在上海自贸区临港新片区设置营业网点，有望在今年三季度正式开业。

Wrapping up with a quick look at the stock market

最后来看股市收盘情况

Chinese stocks closed in positive territory as they returned to trade following days of holidays. The Shanghai composite gained 0.68 percent while the Shenzhen component rose 0.23 percent, despite a private sector survey showed Thursday that China’s services sector activity shrunk further in April. Shares related to agriculture and e-commerce led the gains, and those in tourism and brokerage sectors were among major losers. Hong Kong’s Hang Seng index declined 0.36 percent and Tech Index fell 0.14 percent.

周四A股收涨。截至收盘，沪指涨0.68%；深成指涨0.23%，创业板指跌1.33%。盘面上，农业、电商、新冠概念、军工、外贸板块涨幅居前，证券、旅游、CRO概念走弱。恒生指数收盘跌0.36%，恒生科技指数跌0.14%。

Biz Word of the Day

财经词汇划重点

Tax cuts are reductions to the amount of taxpayers' money that goes toward government revenue. Tax cuts occur in different forms. Governments can cut taxes on income, profits, sales, or assets.

减税又称税收减征，是按照税收法律、法规减除纳税义务人一部分应纳税款。 政府可以削减所得税、利润税、销售税等。

Executive Editor: Sonia YU

Editor: LI Yanxia

Host: Stephanie LI

Writer: Stephanie LI, ZHANG Ran, CHEN Zihui, XIE Kaishan

Sound Editor: ZHANG Ran, CHEN Zihui

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、陈梓慧、谢凯珊

音频制作：陈梓慧

设计：郑文静、廖苑妮