Hi everyone. I’m Stephanie LI.
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大家好，我是主持人李莹亮。
Coming up on today’s program.
重点提要
China’s January manufacturing PMI bounces back into expansion;
IMF raises China"s growth forecast to 5.2% in 2023.
Here’s what you need to know about China in the past 24 hours中国经济要闻
China’s factory and services activity bounced back in January in the first sign of economic recovery after Beijing optimized its Covid response, data released on Tuesday showed.
The official manufacturing purchasing managers’ index (PMI) rose to a four-month high of 50.1, up from47 in December, according to the National Bureau of Statistics (NBS), returning to expansion territory for the first time since September 2022.
China’s PMI expanded in January amid an improvement in the business operation climate and the situation from December, said senior NBS statistician Zhao Qinghe. “Meanwhile, many companies in the manufacturing and services sectors still reported a lack of market demand is the major concern for their businesses. The foundation of economic recovery still needs to be further consolidated,” Zhao added.
Total new orders bounced back to expansionary territory with the sub-index rising to 50.9 in January, the highest level since July 2021, while the index measuring delivery time also rose to 47.6 from 40.1 in December. Also, the sub-index for production came in at 49.8 in January versus 44.6 a month earlier, according to the NBS.
China"s non-manufacturing PMI, which measures business sentiment in the services and construction sectors, rose to 54.4 in January from 41.6 in December, reaching the highest mark since June.
Within the non-manufacturing PMI, the services index rebounded strongly from 39.4, the second-weakest reading on record, to 54, while the construction index also picked up from 54.4 to 56.4.
Meanwhile, enterprises above designated size across China recorded total profits of 8.4 trillion yuan in the year of 2022, down 4 percent year-on-year, the NBS said.
Among the 41 industrial categories, the total profit of 21 industries increased year-on-year, while that of 19 industries decreased.
In 2022, profits at state-owned enterprises (SOEs) rose 3 percent, while those at joint-stock enterprises fell 2.7 percent, foreign firms slumped 9.5 percent, and private-sector firms shrank 7.2 percent.
Although the profits of industrial enterprises declined in 2022 due to multiple factors that exceeded expectations and a relatively high base in the same period of last year, overall profit structure continued to improve, said senior NBS statistician Zhu Hong in a statement.
1月31日，国家统计局发布数据显示，1月份制造业采购经理指数（PMI）为50.1%，较上月上升3.1个百分点，在连续3个月运行在50%以下后重回扩张区间。
整体来看，1月份，制造业PMI、非制造业PMI和综合PMI产出指数分别为50.1%、54.4%、52.9%，高于上月3.1、12.8和10.3个百分点，三大指数均回升至扩张区间。
国家统计局服务业调查中心高级统计师赵庆河解读称，1月份，随着疫情防控转入新阶段，生产生活秩序逐步恢复，制造业PMI升至50.1%，重返扩张区间，调查的21个行业中有18个高于上月，制造业景气水平较快回升。
从分类指数看，在构成制造业PMI的5个分类指数中，新订单指数高于临界点，表明制造业市场需求有所回升。不过，生产指数、原材料库存指数、从业人员指数和供应商配送时间指数仍低于临界点。
数据显示，1月份PMI新订单指数为50.9%，较上月上升7个百分点，升幅明显，在连续6个月运行在50%以下后回到扩张区间。在需求回升以及人员流动趋于宽松的带动下，企业生产活动也稳定恢复，生产指数为49.8%，虽仍位于50%以下，但较上月上升5.2个百分点，结束了连续3个月环比下降的势头。从业人员指数为47.7%，较上月上升2.9个百分点，显示企业用工需求回升。1月份反映外部需求的新出口订单指数为46.1%，较上月上升近2个百分点，不过仍处在相对偏低水平，且较2022年同期水平下降2.3个百分点。
1月份，非制造业PMI也同步回到荣枯线上方，且回升幅度更加明显。数据显示，1月非制造业PMI为54.4%，比上月提升12.8个百分点。分行业看，1月服务业景气水平迎来触底回升，服务业商务活动指数为54.0%，比上月上升14.6个百分点，结束了此前连续6个月的回落走势，升至扩张区间。
此外，国家统计局同日公布数据，2022年全国规模以上工业企业实现利润总额84038.5亿元，比上年下降4.0%。2022年，规模以上工业企业中，国有控股企业实现利润总额23792.3亿元，比上年增长3.0%；股份制企业实现利润总额61610.9亿元，下降2.7%；外商及港澳台商投资企业实现利润总额20039.6亿元，下降9.5%；私营企业实现利润总额26638.4亿元，下降7.2%。2022年，在41个工业大类行业中，21个行业利润总额比上年增长，19个行业下降，1个行业由亏转盈。
国家统计局工业司高级统计师朱虹解读称，尽管2022年工业企业利润有所下降，但工业企业利润上下游结构持续改善，也要看到，国内外不稳定不确定因素仍然较多，企业经营压力仍然较大，工业企业效益恢复仍面临诸多挑战。
The International Monetary Fund has raised its forecast for China"s economic growth to 5.2 percent in 2023, up 0.8 percentage point from its projection in October, as it said the country"s recent reopening has paved the way for a faster-than-expected recovery. Global economic growth will slow from 3.4 percent in 2022 to 2.9 percent in 2023, then rebound to 3.1 percent in 2024, the IMF said in its World Economic Outlook Update released on Tuesday.
IMF上调今年中国经济增速预期至5.2%：当地时间1月31日，国际货币基金组织（IMF）在新加坡发布最新一期《世界经济展望》报告，上调了对中国及全球经济的2023年增长预期。根据最新一期展望，2023年，全球经济增长率预计将为2.9%，比2022年10月时的预测高0.2个百分点；中国的增长率将升至5.2%，比此前的预测高了0.8个百分点。
Guangdong’s high-quality development 2023岭南春早，潮涌珠江
Guangdong’s capital city Guangzhou vows to establish the city by manufacturing and accelerate the construction of a modern industrial system in 2023, strive to create eight industrial clusters with over one trillion yuan in output value, 13 clusters with hundreds of billions of yuan, as well as many others with tens of billionsofyuan, while industrial investment is expected to reach 180 billion yuan this year. Urban renovation will also be one of the city’s priorities to push for high-quality growth this year, Guangzhou’s Party chief Lin Keqing said Saturday, pledging to resolutely start transforming its 127 urban villages and invest more than 200 billion yuan in urban renewal this year.
Guangzhou"s Nansha District was highlighted in the city"s plan for high-quality development, as Guangzhou will actively promote comprehensive cooperation among Guangdong, Hong Kong, and Macao by further deepening the opening-up in the Nansha district.Nansha will strive to achieve more than a 10 percent increase in economic volume, 16 percent increase in industrial output of industries above designated size, 30 percent increase in fixed assets investment, and 85 percent increase in industrial investment, so as to become the new engine of high-quality development in the city. Nansha will also promote the construction of Nansha Science City, HKUST (Guangzhou) Phase II, and the International Talent Special Zone. Efforts will also be made to sign new projects up to 10 billion yuan in key industries.
广州以新担当新作为推进高质量发展：2023年，广州市政府工作报告将“坚持产业第一、制造业立市，加快构建现代化产业体系”列为十项重要任务之首。2023年，广州明确着力推动“3+5+X”战略性新兴产业成链集群发展，加快汽车及核心零部件产业近地化园区布局建设，支持互联网龙头企业扩大产业布局，全力打造智能网联与新能源汽车、软件和信创、时尚产业、文化创意等8个万亿级产业链群，超高清视频和新型显示、现代高端装备、生物医药及高端医疗器械、绿色石化和新材料、半导体和集成电路、新能源等13个千亿级产业链群，以及一大批百亿级产业链群，形成“万千百”规模化产业链群梯队。2023年，广州将推进增芯半导体、广汽自主电池等重大制造业项目，力争工业投资超1800亿元。广州市委书记林克庆在广东省高质量发展大会上表示，城市更新也将成为广州今年高质量发展的重点，坚决打响城中村改造攻坚战，“拆、治、兴”并举，强力推动康鹭等127个城中村改造，加快广州火车站、新中轴线、罗冲围等9个区域连片提升，力争城市更新投资超2000亿，带动产业形态优化、居住功能提升、城市文明跃升。
林克庆表示，全力以赴加速南沙开发形成升腾景象，打造高质量发展新格局。今年将锚定建设“精明增长、精致城区、岭南特色、田园风格、中国气派”的现代化都市，聚焦南沙方案五大任务，深化与港澳规则衔接、机制对接，推动3个先行启动区成形成势，高水平打造南沙CBD，落实15%企业所得税等政策利好，落地一批重大生产力骨干项目。力争南沙经济总量增长10％、固投增长30%以上，以“南沙标杆”为牵引，规划建设珠江高质量发展带、科技创新走廊，着力推进黄埔、增城等区高质量发展，把中新广州知识城、东部枢纽、北部增长极等打造成新引擎。
Moving on to regional highlights区域观察
Southwest China"s Sichuan province has taken an exploratory step to relax birth registration, aiming for a more sound population surveillance system and balanced population growth. The new rule by the province"s health commission, released in late December, canceled restrictions that people can only get their babies registered in a marriage. The rule will take effect from Feb 15 for five years. On Monday, an official from the Sichuan Health Commission said that the rule is designed to help protect the rights of unwed mothers rather than encouraging unmarried people to have babies.
四川官方回应“生育登记取消结婚限制”：1月30日，四川生育登记取消结婚限制、取消数量限制的消息在网上引起热议。四川省卫健委发布通知显示，新版《四川省生育登记服务管理办法》将于2023年2月15日起施行。《办法》将“夫妻应当在生育前进行生育登记”更改为“凡生育子女的公民，均应办理生育登记”；将“办理生育登记的情形：1.夫妻生育第一个子女的；2.夫妻生育第二个子女的 ”更改为“凡生育子女的公民，均应办理生育登记”。这意味着不再限定办理生育登记的孩次。1月30日，四川省卫生健康委员会人口家庭处的工作人员解释称，《办法》并非鼓励不结婚生孩子，而是为了保证“未婚先孕”人群的权益，让其进行生育登记后就享有一些妇幼保健的服务。
Shanghai will roll out 32 measures, including improving housing and medical policies to attract talent and boost consumption this year. The megacity plans to give a 2000 yuan one-off subsidy to employers for each recruitment of fresh grads and people who lost their job for over three months. Shanghai will continue issuing subsidies for new energy vehicles and green smart home appliances, with 10,000 yuan for each electric vehicle and a one-time subsidy of up to 1,000 yuan for green and smart home appliance purchases. It will also accelerate regeneration projects within Shanghai, including launching 10 renewal projects for villages in urban areas.
上海发布32条措施促发展：1月29日，上海市政府正式发布《上海市提信心扩需求稳增长促发展行动方案》，推出十项行动32条政策措施。重点内容包括对招录登记失业三个月以上人员或上海2023届高校毕业生且符合相关条件的用人单位，按每人2000元给予一次性吸纳就业补贴；对具有市场引领性的创新业态、模式及创意活动和对消费市场增长有突出贡献的企业适当予以支持，每年奖励上限为零售企业100万元/家、餐饮企业50万元/家；2023年6月30日前个人消费者报废或转出名下在上海市注册登记且符合相关标准的小客车，并购买纯电动汽车的，给予每辆车10000元的财政补贴；市、区联动发放文旅、体育、餐饮、零售等专项消费券；研究鼓励外资企业利润再投资等政策，引导外资更多投向先进制造业、现代服务业、高新技术产业、节能环保产业等。
Greater Bay Area, Greater future新使命，大未来
Hong Kong Chief Executive John Lee on Tuesday said he is confident that the PCR testing requirement for cross-border travel between the SAR and the mainland will be scrapped “very soon”. Lee also said he hopes to lift a daily cap on visitor numbers and open up more border control points as Hong Kong returns to normalcy.
香港与内地全面通关将很快达成：据报道，今日（31日），香港特区行政长官李家超会见记者时表示，特区政府在农历新年期间与内地有关部门保持紧密联系，进展积极及正面，有信心很快与内地恢复全面通关，期望很快将有好消息公布，包括过关取消核酸检测要求、增加开放口岸数目以及取消人数安排等。
Next on industry and company news产业及公司新闻
China"s SOEs posted increased revenues last year, data from the Ministry of Finance showed on Monday. The SOEs raked in 82.6 trillion yuan in operating revenues in 2022, up 8.3 percent from a year ago. The combined profits of SOEs decreased 5.1 percent year-on-year to 4.31 trillion yuan last year.
2022年国企营收82.6万亿元：1月30日，财政部发布2022年1-12月全国国有及国有控股企业经济运行情况。数据显示，1-12月，国有企业营业总收入825967.4亿元，同比增长8.3%；1-12月，国有企业利润总额43148.2亿元，同比下降5.1%。
China"s "big three" state-owned airlines predicted combined losses of more than 100 billion yuan for 2022, as a result of the epidemic, high fuel prices and depreciation of the yuan against the US dollar. Air China on Monday predicted that the loss for 2022 would be around 37 to 39.7 billion yuan, followed by China Eastern Airlines" loss of 36 to 39 billion yuan, and China Southern Airlines" loss of 30 to 33.2 billion yuan. It would bring the total losses for last year to at least 103 billion yuan, around 1.5 times higher than that of 2021.
三大航司去年合计预亏超千亿元：国航、南航、东航公布了2022年业绩预告。公告显示，三大航空公司去年合计预亏超千亿元。其中，中国国航预计归属于上市公司股东的净亏损约为370亿元到395亿元，中国东航预亏360亿元至390亿元，南方航空预亏303亿元到332亿元。对于业绩预亏的主要原因，三大航空公司均提及去年受到新冠疫情持续影响，旅客出行需求处于低位。此外，国际油价高企和人民币兑美元汇率贬值等，进一步加重了成本压力。
China has granted conditional sales approval for two more oral Covid-19 treatments, both developed in the country, bringing the total to five. Simcere Pharmaceutical Group’s Xiannuoxin and Junshi Biosciences" Mindewei have been added to the list of coronavirus treatments approved for marketing in China, according to a notice the National Medical Products Administration issued yesterday. A course of Xiannuoxin will cost 750 yuan, which is 40 percent of the cost of Pfizer’s Paxlovid tablet.
国产新冠药先诺欣报价750元/盒：30日，北京市医疗保障局官网公告，先声药业新冠治疗药品先诺特韦片/利托那韦片组合包装先诺欣®首发报价是750元/盒，含税出厂价格（或进口到岸价格）是705-720元/盒。29日，两款新冠口服药附条件批准上市，分别是海南先声药业有限公司申报的1类创新药先诺特韦片/利托那韦片组合包装（商品名称：先诺欣）、上海旺实生物医药科技有限公司申报的1类创新药氢溴酸氘瑞米德韦片（商品名称：民得维）。
JD.comis closing its online shopping sites in Indonesia and Thailand as part of the Chinese e-commerce giant’s business strategy revamp in the highly competitive Southeast Asia market. JD.’s online marketplaces in the two countries said Monday that both will stop accepting orders in mid-February and all services will be discontinued by the end of March. A spokesperson for JD.com said Monday that the company will continue to serve global markets, including Southeast Asia, through its supply chain infrastructure such as intelligent warehouses, with 20 already in operation in Indonesia alone.
京东关闭泰国印尼站：1月30日，京东在印度尼西亚、泰国的电商官网均发布公告，将于2月15日起停止接受订单，3月31日暂停所有服务。京东30日表示，在收缩东南亚本地电商业务的同时，近段时间也在持续加码在东南亚、欧洲及北美等地的物流仓储布局。据了解，京东海外业务分为京东国际负责的电商业务和京东产发牵头的项目，目前京东产发在印尼投资管理了20个物流园，分布在核心工业物流区，当地聚集了大量加工制造业和汽车产业。
Switching gears to financial news金融市场消息
China"s revenue in the national general budget rose by 0.6 percent to 20.37 trillion yuan in 2022, slowing sharply from a 10.7 percent increase in 2021 due to huge tax rebates for businesses to support the COVID-ravaged economy, while expenditure climbed by 6.1 percent year-on-year to 26.06 trillion yuan, resulting in a shortfall of 5.69 trillion yuan, the Ministry of Finance revealed on Monday. According to the ministry, tax and fee cuts, tax refunds and deferred payments totaled 4.2 trillion yuan in 2022, including 2.4 trillion yuan in VAT tax rebates - the largest in recent years.
2022年全国一般公共预算支出超26万亿：财政部30日公布了2022年全国财政收支情况。数据显示，2022年，全国一般公共预算收入超20万亿元，比上年增长0.6%，其中，全国税收收入比上年下降3.5%，扣除留抵退税因素后增长6.6%。2022年全国新增减税降费及退税缓税缓费超4.2万亿元。其中，增值税留抵退税约2.4万亿元，力度是近年来最大的，减轻企业负担，激发创新活力。财政支出方面，2022年，全国一般公共预算支出260609亿元，比上年增长6.1%。其中，中央一般公共预算本级支出比上年增长3.9%；地方一般公共预算支出比上年增长6.4%。
Wrapping up with a quick look at the stock market股市收盘情况
Chinese and Hong Kong stocks fell on Tuesday, as investors booked profits after a strong rally that was fueled by record monthly foreign inflows, while attention turned to a key US Federal Reserve meeting later in the day. The Shanghai Composite and the Shenzhen Component each slid 0.4 percent and 0.8 percent. Hong Kong’s Hang Seng index shed 1 percent and the TECH index dipped 0.8 percent.
A股港股收跌：周二A股三大指数全天低开低走，截至收盘，沪指跌0.42%，深成指跌0.8%，创业板指跌1.26%，北证50大涨5.79%，沪深两市全天成交额9002亿元。港股进一步走低，恒指收跌1.03%，恒生科技指数收跌0.82%。
Biz Word of the Day
财经词汇划重点
Value-added tax (VAT)is aconsumption taxon goods and services that is levied at each stage of thesupply chainwhere value is added, from initial production to the point of sale. The amount of VAT the user pays is based on the cost of the product minus any costs of materials in the product that have already been taxed at a previous stage.
增值税是对商品生产、流通、劳务服务中多个环节的新增价值或商品的附加值征收的一种流转税。
Executive Editor: Sonia YU
Editor: LI Yanxia
Host: Stephanie LI
Writer: Stephanie LI
Sound Editor: Stephanie LI
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Produced by 21st Century Business Herald Dept. of Overseas News.
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策划、编辑：李艳霞
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