CBN丨China's economy expected to achieve annual growth target: premier

Hi everyone. I’m Stephanie LI.

大家好，我是主持人李瑩亮。

Coming up on today’s program.

重點提要

• The Summer Davos kicks off in Tianjin today;
• City in Jiangsu lifts residential property transaction curbs, raising hopes for similar easing elsewhere.

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

中國經濟要聞

China is expected to achieve this year's economic growth target of around 5 percent, with the growth in the second quarter to surpass that in the first quarter, Chinese Premier Li Qiang said on Tuesday.

Li made the remarks when addressing the opening of the 14th Annual Meeting of the New Champions, also known as the Summer Davos, in north China's Tianjin Municipality.

Having gone through the twists and turns of economic globalization, all countries should cherish openness and cooperation, as well as peace and stability, more in the wake of experiencing anxiety caused by conflicts and instability.

Li warned against overstretching the concept of the so-called "de-risking," or turning it into a political or ideological tool.

He called on the international community to firmly oppose the politicization of economic and trade issues and jointly maintain the stability and unimpeded flow of global industrial and supply chains, so that the fruits of economic globalization can benefit different countries and people in a more equitable manner.

Li said that China stands ready to unswervingly uphold the market economy and support free trade to steer the world economy toward a more inclusive, resilient and sustainable future.

About 1,500 participants from business, government, civil society, international organizations and academia have gathered in Tianjin for the Summer Davos after a three-year hiatus of the in-person event due to the COVID-19 pandemic.

Sessions of this year's Summer Davos will address the latest issues on the global agenda - global debt explosion, financial stability, climate action - with systemic relevance for Asia and the rest of the world, as well as the latest innovative technologies with the potential to transform the world, such as generative AI, plant sensors, care tech, batteries and EVs.

At a separate meeting of the forum, Zhang Yuzhuo, chairman of the State-owned Assets Supervision and Administration Commission of the State Council, said the country has witnessed some positive signs for a strong recovery on both the demand and supply sides.

China has maintained a steady economic recovery this year against the backdrop of multiple global challenges, and the growth is set to accelerate in the second quarter, Zhang said.

While it is generally believed that China's economic recovery helped boost confidence in the global economy, Zhang also warned of challenges relating to fields such as the lower-than-expected growth in foreign trade.

世界經濟論壇第十四屆新領軍者年會今天在天津開幕。這是夏季達沃斯時隔四年再次在中國舉辦。來自90多個國家的1500多位全球領袖和創新人士出席論壇。

中國國務院總理李強出席夏季達沃斯論壇開幕式并緻辭。

李強表示，過去幾年，世紀疫情和百年變局交織疊加，我們身處的世界發生了很大變化。經曆過有形無形的阻隔，我們應當更加珍視溝通與交流，推動不同國家、不同民族、不同文明加深對彼此的了解，進一步加強對話、彌合分歧、增進共識。

李強指出，當今世界缺的是交流、而不是隔閡，缺的是合作、而不是對抗，缺的是開放、而不是封閉，缺的是和平、而不是沖突。我們要共同落實全球發展倡議、全球安全倡議、全球文明倡議，更好地在曆史前進的邏輯中前進、在時代發展的潮流中發展，努力建設一個更加美好的世界。

李強表示，過去十年裡，中國一直是世界經濟穩定增長的重要動力源，為促進國際自由貿易、穩定世界經濟增長發揮了重要“壓艙石”的作用。未來更長時間裡，中國将繼續為世界經濟複蘇和增長提供強大動能，也為各國投資者提供互利共赢的合作機遇。

李強強調，這次年會以“企業家精神：世界經濟驅動力”為主題，具有很強的現實針對性。我們願與各國企業家一道，堅定支援經濟全球化，堅定維護市場經濟，堅定支援自由貿易，引領世界經濟邁向更加普惠、更有韌性、更可持續的未來。

此外，在夏季達沃斯論壇“直面挑戰：在脆弱的環境中重新開機增長”對話環節，國務院國資委主任張玉卓表示，今年以來中國經濟增長恢複态勢是好的。從目前的消費情況來看，增長在逐漸恢複，社會零售總額增長了9.3%。從供應的供給的角度來說，一些新的技術和新的産品增長速度是比較快的，比如新能源汽車，前5個月增長在50%以上。

“中國經濟的恢複程序也為世界經濟複蘇提振了信心。”張玉卓說，但是也應該看到中國經濟增長還面臨着不少的挑戰，主要表現在，從外貿來看，增長不及預期，“全球貿易增長前5個月的情況也不是非常樂觀，這跟很多因素有關系。”消費方面，消費熱點還不夠多，整個消費領域的增長不是非常高；此外，一些新興産業的“面”還不是足夠大。

“我們特别希望通過世界經濟論壇這樣的交流平台，大家最大限度地凝聚共識來深化合作，以自身的确定性來應對全球經濟的不确定性，共同為全球經濟增長做貢獻。”張玉卓強調。

Moving on to regional highlights

區域觀察

• Yangzhou in East China's Jiangsu province removed restrictions on home transactions, said a notice published by the Yangzhou government on Sunday, which will be effective for a year starting July 1. People who buy properties for improved living conditions can sell their previous homes immediately, without having to wait for three years as was previously required, the notice said. Yangzhou's decision marks the first city to launch support for its housing market after the first adjustment to the loan prime rates in 10 months, and it was Yangzhou’s third housing policy easing this year.

  揚州取消樓市“雙限”：6月25日，揚州市住建局經與市财政、稅務、銀保監和住房公積金管理中心等多部門會商，揚州自7月1日起将正式實施《關于促進市區房地産市場平穩健康發展的通知》，施行期1年，實施範圍覆寫揚州全市。通知提出，在揚州市區購買改善性住房的，不再執行限購政策，其原有住房不再執行限售政策。除放開限購限售外，揚州本次政策還涉及提高公積金貸款額度、支援提取公積金付首付、發放購房補貼等需求端政策。

• Erenhot Port in North China's Inner Mongolia has logged over 1,500 China-Europe freight trains so far this year, the local railway authorities said on Monday, which has handled a total of 12,592 to date since the port launched its China-Europe freight train service in 2013. The Erenhot Port is the largest land port between China and Mongolia, through which 68 China-Europe freight train routes link China with more than 60 regions of over 10 countries, including Germany and Poland.

  二連浩特口岸出入境中歐班列突破1500列：6月26日上午，随着1289次中歐班列經二連浩特鐵路口岸緩緩駛出國門，标志着中蒙最大陸路口岸——二連浩特鐵路口岸出入境中歐班列今年正式突破1500列，同比增幅達21.2%。據介紹，該口岸目前共有68條中歐班列線路從二連浩特出入境，對外覆寫德國、波蘭等10多個國家的60多個地區；國内涉及全國中歐班列大部分首發城市，集聚了天津、安徽、湖南等10餘個省市的貨源。截至目前，該口岸已累計開行12592列中歐班列。

Greater Bay Area, Greater future

新使命，大未來

• Guangdong Free Trade Zone (FTZ) topped its task of further improving connectivity with Hong Kong and Macao in terms of investment, trade, financing, legal services and mutual recognition of professional qualification, according to a recent priority list for China's FTZs during the 2023-2025 period by the Ministry of Commerce. Efforts should be made to specific financial platforms, including Guangzhou Futures Exchange and Greater Bay Area Bond Platform, aiming to serve the high-quality economic development and the Greater Bay Area. More specifically, Nansha Area is encouraged to beef up its sci-tech research and infrastructure efforts. Qianhai and Shekou Area will explore cooperation modes on legal services between the mainland and the two SARs, as well as to link China with foreign countries. Hengqin Area is scheduled to reinforce cooperation with Macao in civil affairs and speed up the Macau New Neighborhood project to facilitate Macao residents to live and work in the area.

  廣東自貿區明确三年工作重點：近日，商務部印發《自貿試驗區重點工作清單（2023-2025年）》中，廣東自貿試驗區重點工作清單明确，推進與港澳規則銜接、機制對接，深化與港澳在貿易、投資、金融、法律服務和職業資格互認等領域合作，促進内外貿法規制度銜接。推進廣州期貨交易所、大灣區債券平台、南沙國際金融島、深港國際金融城等建設，依托現有交易場所開展農産品交易，打造服務經濟高品質發展和粵港澳大灣區的重要金融平台。推進“大灣區組合港”“灣區一港通”建設，打造以南沙港、蛇口港為樞紐的一體化通關物流資訊平台。具體來看，清單提出前海蛇口片區建設前海深港國際法務區，推動在前海設立粵港澳大灣區司法研究院，高标準建設前海國際人才港，支援建設具有深港現代服務業特色的綜合保稅區；高水準建設南沙科學城，加快推進一批世界一流研究型大學、科研機構和國家重大科技基礎設施建設；橫琴則加強與澳門社會民生合作，推動“澳門新街坊”項目建設，探索與澳門民生社會服務和社會保障體系的銜接。

Next on industry and company news

産業及公司新聞

• Chinese auto giant GAC Group stunned audiences at a recent event with the debut of GOVE, a flying vehicle that can travel both in the air and on the road. The auto has a split chassis design that allows it to be used either as an aircraft or a car, GAC said on Sunday. When driving on land the wings are retracted and the flight cabin and chassis stay combined. When flying the flight cabin separates from the chassis which remains parked on the ground.

  廣汽釋出飛行汽車GOVE：日前，2023廣汽科技日活動上，廣汽集團首次公開展示飛行汽車項目“GOVE”，并完成了全球首飛。廣汽研究院院長吳堅表示，GOVE飛行汽車采用分離式機體構型，搭載廣汽 ADiGO-Pilot 自駕系統、雙備份多旋翼飛行系統，可實作垂直起降，并搭載雙備份多旋翼飛行系統，保障飛行安全。據悉，GOVE陸上行駛時二者合體，機翼收縮，空中飛行時二者分離，底盤泊入指定車位。

• Chinese fast fashion retailer Shein recently unveiled a program named AcceleraShein to support 10,000 sellers to achieve USD1 million in annual sales over the next three years, offering a system of support from popular categories to all marketplace vendors, including training and upskilling, seller benefits and incentives, to help them achieve their business goals. The program will also help 100,000 small and mid-sized vendors achieve USD100,000 in annual sales and improve their competitiveness in the global market, the firm said Monday.

  SHEIN釋出“希有引力”百萬賣家計劃：6月26日消息，繼推出平台模式後，SHEIN公布“希有引力”百萬賣家計劃，拟在未來三年幫助全球10000個賣家的年銷售額突破百萬美元。據悉，SHEIN将重點從鞋包首飾、美容彩妝、家居用品、配飾、3C用品、運動産品、寵物配飾、創意文具等熱招品類逐漸拓展至全品類賣家。SHEIN對于平台賣家也提供了全流程的教育訓練體系。此外，為了進一步普惠中小賣家的發展，“希有引力”百萬賣家計劃也将幫助10萬個中小賣家年銷售額達到10萬美元。

• Chinese joint venture Tongkun Petrochemical Indonesia has launched a USD8.6 billion petrochemical complex in North Kalimantan, Indonesia, according to an announcement released after the close of trading yesterday. The project, which is awaiting Chinese government approval, will produce 14.32 million metric tons of petrochemical products a year, and is expected to generate an average annual operating income of USD10.4 billion and an average after-tax profit of USD1.3 billion.

  桐昆股份拟投86億美元印尼煉化一體化項目：6月26日晚間，滌綸長絲行業兩大巨頭新鳳鳴與桐昆股份同時釋出公告稱，計劃啟動泰昆石化（印尼）有限公司印尼北加煉化一體化項目，項目含增值稅籌資額（報批總投資）86.24億美元。據估計，項目建成後，将實作年均營業收入104.38億美元，年均稅後利潤13.28億美元，稅後财務内部收益率16.68%，稅後投資回收期9年（含建設期4年）。據悉，該項目建設内容包括煉油及芳烴工藝裝置、乙烯及下遊裝置和相關配套設施。

• Shares of ENN Natural Gas jumped after the firm said it has guaranteed its supply with Cheniere Energy, the leading liquefied natural gas provider in the United States. A Singaporean unit of ENN and Cheniere Marketing, a subsidiary of the American firm, penned a 20-year standing agreement for up to 1.8 million tons of LNG per year, ENN said in a statement yesterday. The contract starts in mid-2026 with an initial annual supply of 900,000 tons which is expected to rise after Cheniere Energy expands its Sabine Pass LNG terminal in Louisiana.

  新奧股份與切尼爾能源簽署20年LNG購銷協定：6月27日，新奧股份釋出公告稱，公司新加坡子公司與切尼爾能源簽署了長期液化天然氣（LNG）購銷協定。根據協定，新奧股份新加坡子公司每年向切尼爾能源采購約180萬噸LNG，其中約90萬噸/年合同量将在賣方滿足薩賓帕斯（Sabine Pass）擴建項目先決條件後生效，采購開始時間為2026年，為期20年，合同期限将随薩賓帕斯擴建項目投入商業營運後适當延長。采購價格與亨利中心（Henry Hub）基準價格挂鈎。

• Shares of BYD fell after Warren Buffett's Berkshire Hathaway sold about HKD676 million of stock in the fast-growing electric vehicle giant to have less than half of what the American investing legend used to in August. Berkshire Hathaway unloaded about 2.53 million H-shares for HKD266.85 apiece on average on June 19, cutting its holdings to 8.98 percent from 9.21 percent, according to bourse data disclosed yesterday.

  巴菲特又減持比亞迪：根據港交所6月26日披露的檔案，巴菲特的伯克希爾哈撒韋公司6月19日以每股均價266.85港元售出253.25萬股H股股份，價值約6.76億港元。售出後，伯克希爾哈撒韋在比亞迪公司的最新持股數量為9860.31萬股股份，持股比例由9.21%降至8.98%。據統計，自1月3日以來，其累計減持5472萬股比亞迪H股。

Wrapping up with a quick look at the stock market

股市收盤情況

• Chinese stocks ended with healthy gains on Tuesday as the yuan rebounded to 7.22 against the greenback. The benchmark Shanghai Composite gained 1.2 percent and the Shenzhen Component rose 1 percent. Hong Kong’s Hang Seng index also climbed1.9 percent and the TECH index jumped 2.6 percent.

  A股港股反彈：周一A股三大股指震蕩走高，截至收盤，滬指漲1.23%，深成指漲0.97%，創業闆指漲0.26%。滬深兩市全天成交額8411億元，北向資金淨賣出25.96億元。人民币匯率止跌反彈，離岸人民币兌美元收複7.22。港股迎來久違的大漲行情，恒指止步五連跌收漲1.88%，恒生科技指數收漲2.57%。

Biz Word of the Day

财經詞彙劃重點

• House purchase restriction orderrefers to the policy issued by local governments in China ’s major cities, including Beijing, Shanghai and Guangzhou, to curb the overheating real estate market by imposing restrictions on purchasing power. Beijing was the first city to carry out the purchase restriction order.

  “住房限購令”是指政府出台的房屋限購政策，出自2010年北京出台的“國十條實施細則”，細則規定北京家庭隻能新購一套商品房，這是全國首次提出的家庭購房套數“限購令”。此後，包括上海、廣州在内，相繼有49個地級以上城市實施“限購令”。

Executive Editor: Sonia YU

Editor: LI Yanxia

Host: Stephanie LI

Writer: Stephanie LI

Sound Editor: Stephanie LI

Graphic Designer: ZHENG Wenjing, LIAO Yuanni

Produced by 21st Century Business Herald Dept. of Overseas News.

Presented by SFC

編委: 于曉娜

策劃、編輯：李豔霞

播音：李瑩亮

撰稿：李瑩亮

音頻制作：李瑩亮

設計：鄭文靜、廖苑妮

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