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 manufacturing PMI edges up to 50.2 in February, beating forecast;
The NDRC announced to replenish pork reserves as prices dropped below warning level.
Here’s what you need to know about China in the past 24 hours
中国经济要闻
China"s factory activity in February expanded again, with manufacturing recovering steadily after the Spring Festival holiday. The official manufacturing Purchasing Managers" Index (PMI) edged up to 50.2in February from 50.1 in January, data from the National Bureau of Statistics (NBS) showed on Tuesday.
Manufacturing and business activities had slowed down due to the Spring Festival holiday. In February, the production index was 50.4, down 0.5 percentage points from the previous month.
The new orders index was 50.7, up 1.4 percent from the previous reading, returning into the expansion range, indicating market demand for the manufacturing industry increased after the holiday, according to a statistician at the NBS.
The purchase price index and factory gate price index of major raw materials came in at 60.0 and 54.1 respectively last month, up 3.6 and 3.2 percent compared to January, pointing to an overall increase in market prices.
Meanwhile, the sub-index for production and operation activity was 58.7, hitting a recent high, thanks to policies and measures promoting the steady growth of the industrial economy and boosting enterprises" confidence.
On the other hand, the official non-manufacturing PMI, which measures activities in the construction and services sectors, rose to 51.6, up 0.5 percent from January.
据国家统计局网站消息，2月份，中国制造业采购经理指数（PMI）为50.2%，比上月上升0.1个百分点，继续高于临界点。
国家统计局服务业调查中心高级统计师赵庆河表示，2月份企业节后复工复产形势良好，制造业PMI继续在扩张区间平稳运行，需求改善，预期向好，景气水平略有回升。
供需两端均有所扩张。受春节假日因素影响，制造业生产经营活动扩张放缓，生产指数为50.4%，比上月下降0.5个百分点；新订单指数为50.7%，比上月上升1.4个百分点，重回扩张区间，表明节后制造业市场需求释放有所加快。
价格指数涨幅较大。主要原材料购进价格指数和出厂价格指数分别为60.0%和54.1%，高于上月3.6和3.2个百分点，两个价格指数均连续两个月明显上升，制造业市场价格总体水平涨幅扩大。
企业预期继续回暖。春节过后，制造业生产活动逐步恢复常态，近期相关部门出台一系列促进工业经济平稳增长的政策措施，企业市场预期进一步提升，生产经营活动预期指数为58.7%，高于上月1.2个百分点，升至近期高点。
此外，2月份，非制造业商务活动指数为51.6%，比上月上升0.5个百分点，高于临界点，非制造业总体恢复步伐有所加快。
The NDRC, China’s top economic planner, announced Monday to stockpile pork, the country’s staple meat, to replenish state reserves, asan index monitoring pork prices have dropped below a warning level.
冻猪肉收储将开启：2月28日，国家发展改革委宣布，将会同有关部门立即启动中央冻猪肉储备收储工作，并指导各地积极收储。据国家发展改革委监测，2月21日-25日当周，全国平均猪粮比价为4.98∶1，进入《完善政府猪肉储备调节机制 做好猪肉市场保供稳价工作预案》确定的过度下跌一级预警区间。
The NDRC announced another batch of renewable energy projects that will add a total of 455 gigawatts of clean electricity generation capacity by 2030. The projects focus on the resource-rich Gobi desert area in the northern part of the country to increase wind and solar power supply.
规划提升风电光伏装机量：2月27日消息，国家发展改革委、国家能源局发布关于印发《以沙漠、戈壁、荒漠地区为重点的大型风电光伏基地规划布局方案》的通知。通知提出以库布齐、乌兰布和、腾格里、巴丹吉林沙漠为重点规划建设大型风电光伏基地。到2030年,规划建设风光基地总装机约4.55亿千瓦。
Update on COVID-19
疫情简报
The Chinese mainland added 75 locally transmitted cases on Monday, spreading across 11 provinces and regions, among which 31 were in Guangdong province, 14 in Inner Mongolia and 11 in Guangxi.
2月28日，内地新增本土病例75例（广东31例，其中深圳市23例、东莞市7例、中山市1例；内蒙古14例，其中呼和浩特市13例、包头市1例；天津6例，其中滨海新区4例、东丽区2例；广西6例，均在防城港市；云南6例，其中德宏傣族景颇族自治州5例、临沧市1例；黑龙江4例，其中牡丹江市3例、鸡西市1例；江苏3例，均在苏州市；湖北2例，均在武汉市；山西1例，在晋中市；海南1例，在三亚市；四川1例，在成都市）。
Next on industry and company news
产经消息及公司新闻
Shares related to the China-initiated Cross-border Interbank Payment System (CIPS) and the digital currency surged on Chinese A-share market on Monday, putting the back-up choice for cross-border settlements in the spotlight after the West excluded Russia from the SWIFT interbank system. Related fintech stocks Forms Syntron and Infosec rallied 10 percent and 5.5 percent today after hitting the limit up on Monday.
人民币跨境支付概念股大涨：美国等西方国家26日发布联合声明，将部分俄罗斯银行排除在环球银行间金融通信协会（SWIFT）支付系统之外。2月28日，CIPS(人民币跨境支付系统)、数字货币相关概念股大涨，四方精创、信安世纪等个股迎来涨停板。今日，四方精创继续大涨近10%，信安世纪涨5.48%。
Chinese electric-vehicle maker Nio will start trading on the Hong Kong Stock Exchange on March 10 after applying for a secondary listing by way of introduction, which does not involve selling new shares or raising any money.
蔚来汽车将登陆港股：根据香港证券交易所2月28日披露的文件，蔚来汽车（NIO）继纽交所之后，即将登陆港交所，其A类普通股预计将于2022年3月10日起在港交所挂牌交易。公告显示，蔚来汽车将以“介绍方式”上市，不涉及新股发行及资金募集。
OneConnect Financial Technology, a fintech unit of financial conglomerate Ping An Insurance Group, filed with the Hong Kong Stock Exchange Monday seeking to trade its shares in the city by introduction.
金融壹账通申请在港二次挂牌：中国平安旗下的金融壹账通于2月28日晚递交了港股二次挂牌申请。公司计划以介绍上市形式在香港进行双重主要上市。若最终完成上市，金融壹账通有望成为继蔚来汽车后，近年第二家以介绍方式登陆港股的中概股。
China’s fitness app Keep has applied for an initial public offering on the Hong Kong stock exchange nearly a year after abandoning its previous plan to go public in the US amid increased scrutiny of data security in overseas listings.
Keep拟赴港上市：2月25日晚，国内最大的创新型线上健身平台Keep向港交所递交主板上市申请，联席保荐人为高盛和中金公司。招股书显示，2021年前三季度，Keep实现总收入11.6亿元，同比增长41.3%；2021年平均月活跃用户数为3440万。
About 92 percent offline private tutoring institutions have been slashed, latest data from the Ministry of Education (MOE) showed on Monday. All the training institutions have been repurposed as non-profit institutions, according to the MOE.
线下校外培训机构压减超92%：教育部2月28日公布数据显示，关于“双减”工作，截至目前原12.4万个线下校外培训机构压减到9728个，压减率为92.14%；“营转非”“备改审”完成率达100%。
Switching gears to the financial sector
金融市场要闻
China Merchants Bank(CMB) and one of its Hong Kong subsidiaries have won initial approval to conduct product trials as part of a cross-border fintech pilot program in the Greater Bay Area. An artificial intelligence-backed identity verification tool developed by CMB and CMB Wing Lung Bank will be used when the latter’s Chinese mainland customers open a Hong Kong-dollar account on its app, according to its product description.
招行应用入围大湾区“监管沙盒”：2月26日消息，日前，中国人民银行深圳中心支行在官网公示了粤港澳大湾区金融科技跨境创新测试应用（第一批），该批仅有一个创新应用入围，即招商银行及其全资附属公司招商永隆银行联合申报的“基于人工智能技术的客户身份辅助核验产品”。
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 Tuesday, buoyed by stocks related to pork, new energy and cross-border payment. The benchmark Shanghai Composite gained 0.77 percent, and the Shenzhen Component was up 0.24 percent. The Hang Seng Index ended 0.21 percent higher with auto stocks and the rebounding real estate stocks leading the gains.
周二A股走高，沪指涨0.77%，深成指涨0.24%。盘面上，猪肉股表现强势，光伏、风电等新能源赛道受利好刺激拉升，CIPS、跨境支付概念继续走高。恒生指数收涨0.21%，汽车股领涨地产股反弹。
Biz Word of the Day
财经词汇划重点
TheCross-Border Interbank Payment System(CIPS)is a payment system that offers clearing and settlement services for its participants in cross-borderRMBpayments and trade. It is a significant financial market infrastructure in China.
人民币跨境支付系统(简称CIPS)，是专司人民币跨境支付清算业务的批发类支付系统。旨在进一步整合现有人民币跨境支付结算渠道和资源，提高跨境清算效率，满足各主要时区的人民币业务发展需要，提高交易的安全性，构建公平的市场竞争环境。
（欢迎大家提供意见和反馈，请联系主播李莹亮：liyl@21jingji.com）
Executive Editor: Sonia YU
Editor: LI Yanxia
Host: Stephanie LI
Writer: Stephanie LI, ZHANG Ran
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策划、编辑：李艳霞
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