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 

• An NDRC official said China has full confidence in overcoming difficulties, in response to a question on the country's 5.5-percent GDP growth target;

• The first batch of ETFs to be included in the Hong Kong-mainland Stock Connect program will start trading on July 4.

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

中国经济要闻

China can cope with unexpected risks this year to achieve its GDP growth target of around 5.5 percent, a senior official of the country's top economic regulator told a press conference on Tuesday.

Ou Hong, Deputy Secretary General of NDRC said that China's economy is resilient and has great potential and ample room to manoeuvre in the face of difficulties. “We have full confidence in overcoming difficulties and challenges in economic operation, and are capable of coping with unexpected changes to ensure steady, sound and sustainable economic development,” Ou added.

He noted that the current epidemic situation remains "grave and complicated," pledging efforts to minimise the impacts of COVID-19 on the economic and social development of the country. 

China’s economic recovery gathered pace in May, with major economic indicators witnessing improvements, fuelled by better containment of the COVID-19 pandemic, gradual resumption of work and production and a series of pro-growth policies, Ou said.

The country will release high-quality coal production capacity in an orderly manner, speed up the construction of key large-scale wind and photovoltaic power bases in desert areas, including the Gobi Desert, and make breakthroughs in key and core technologies, Ou said.

The NDRC also vowed to speed up efforts to implement a package of stimulus measures, like boosting the sales of big-ticket items like automobiles and home appliances, so as to further unleash consumption potential, while highlighting the necessity of ensuring the security of food, energy and industrial and supply chains.

Meanwhile, China is also enlarging the scope for foreign investment with a draft version of the catalogue of industries in which such investment is encouraged, and guide foreign investment in key sectors like manufacturing and in certain places like central and western regions as well as the northeast, said the NDRC. 

在6月28日上午举行的“中国这十年”系列主题新闻发布会上，有记者提问，今年我国能否实现5.5%左右的GDP增长目标？如何用好政策工具箱，切实稳住经济大盘？

对此，国家发展改革委副秘书长欧鸿表示，从近期经济形势看，各方面按照中央要求，统筹抓好疫情防控、经济发展和经济安全等工作，重点地区疫情得到有效管控，复工达产加快推进，稳增长政策发力显效，5月份经济呈现边际改善，主要指标均有所回升。更要看到，我国经济韧性好、潜力足、回旋余地大，我们完全有信心克服经济运行中的困难挑战，有能力应对可能出现的各类超预期变化，确保经济平稳健康可持续发展。

欧鸿表示，3月份以来，新冠肺炎疫情和乌克兰危机导致风险挑战增多，我国经济发展环境的复杂性、严峻性、不确定性上升，稳增长、稳就业、稳物价面临新的挑战。面对经济运行中新的下行压力，要坚决贯彻落实党中央“疫情要防住、经济要稳住、发展要安全”的要求，重点抓好一个“落实”和两个“统筹”。

一是落实落细已出台的各项政策。近期特别是要抓紧推进一批既利当前又利长远的水利、交通、地下综合管廊等项目，尽快形成实物工作量；落实促进汽车、家电等领域消费的若干政策，加快释放消费潜力。

二是高效统筹疫情防控和经济社会发展，坚持“外防输入、内防反弹”总策略和“动态清零”总方针。坚决避免简单化、一刀切、层层加码，同时抢抓时间窗口，进一步畅通交通物流，加快实现复工达产。

三是统筹发展和安全。进一步保障粮食能源安全和产业链供应链安全稳定，有序释放煤炭优质产能，加快以沙漠、戈壁、荒漠地区为重点的大型风电光伏基地建设，推进关键核心技术攻关等。

此外，稳外资是稳住经济大盘的重要部分，当前，对外开放和稳外资各项政策措施正加快落地。国家发改委副秘书长苏伟表示，下一步，将修订扩大《鼓励外商投资产业目录》。“目前正在对《目录》进行修改完善，将进一步扩大鼓励范围，引导外资投向制造业、生产性服务业等重点领域，以及中西部和东北等重点地区。”他说。

Update on VOVID-19

疫情简报

• The Ministry of Industry and Information Technology announced on 3 pm Wednesday to immediately cancel the asterisk (*) mark that appears on residents’ travel codes. The asterisk has been used to mark individuals’ travel history to medium- or high-risk areas of Covid-19 in the past 14 days. Online booking platform Qunar reported a 60 percent surge in plane ticket searches as of 3:30 pm, while hotel and train ticket searches also increased over 150 percent. 

  即日取消行程卡“星号”标记：据工信部官网6月29日消息，为坚决落实党中央、国务院关于“外防输入、内防反弹”总策略和“动态清零”总方针，支撑高效统筹疫情防控和经济社会发展，方便广大用户出行，即日起取消通信行程卡“星号”标记。据去哪儿平台数据显示，平台机票搜索量在消息发布30分钟内上升60%，酒店搜索量翻番，火车票搜索量上涨最多达到1.5倍。

Moving on to regional highlights

区域观察

• The first Hainan International Offshore Duty-Free Shopping Festival kicked off in Sanya on Tuesday. The international tourism island sets to hold more than 50 promotional events during the half-year festival period to boost the recovery of duty-free shopping. 

  首届海南国际免税购物节开启：6月28日，首届海南国际离岛免税购物节启动仪式在三亚国际免税城举行，第四届中免海南离岛免税购物节同步启动。在6月25日起发放共计2000万元的离岛免税消费券基础上，购物节期间，海南省政府将适时追加资金，市县政府也将安排配套资金继续发放消费券。

• The actual use of foreign direct investment (FDI) from January to May in Jiangsu province came in at $17.68 billion, up 31.5 percent year-on-year, according to the provincial commerce department on Tuesday. Jiangsu led the country in the actual use of FDI, accounting for 20.2 percent of China's total in the first five months.

  前5月江苏实际使用外资规模全国第一：据商务部统计，今年1-5月，江苏省实际使用外资176.8亿美元，同比增长31.5%，占全国比重20.2%，规模继续保持全国第一。 

Next on industry and company news

产业及公司新闻

• The number of Chinese private enterprises quadrupled from 10.85 million in 2012 to 44.57 million last year, the NDRC said on Tuesday.

  我国民营企业数量十年翻两番：6月28日，中共中央宣传部举行“中国这十年”系列主题新闻发布会。国家发展改革委副秘书长苏伟表示，市场主体改革取得新成就。过去10年，我国民营企业数量翻了两番，从1085万户增长到4457万户。

• Chinese electric car startup Nio was accused of overstating its income by using accounting tricks, US short seller Grizzly Research said in a report released Tuesday. Nio responded Wednesday that the report has misinterpreted the data and is based on incorrect information.

• 蔚来回应被灰熊做空：6月28日晚间，做空机构Grizzly Research LLC发布报告称，蔚来通过玩“大胆的会计游戏”增加收入并提高净利润率，以达到市场期望的目标。报告指出，蔚来一个未合并计入报表的关联方——武汉蔚能，为蔚来创造了数十亿美元的收入。29日蔚来回应称，灰熊的做空报告毫无价值，包含大量错误、未经证实的猜测以及与本公司有关的误导性结论和解释。蔚来正在审查指控，并考虑采取适当的行动。

• A real estate developer in Nanjing launched an unusual marketing strategy, allowing home buyers to pay for their homes using watermelon at a rate of 20 yuan per kilogram, media reported on Tuesday. A poster for the promotional event reads that the property developer would allow home buyers to make a maximum payment of 100,000 yuan with watermelons. A representative of the company said on Tuesday that the bizarre promotional event has been suspended after being ordered by the headquarters.

  南京楼盘惊现“西瓜换房”：继小麦大蒜换房后，南京一楼盘推出西瓜换房活动。6月28日，媒体报道，推出该活动的新城·云漾滨江项目多名工作人员表示目前“活动细则还没有出来，尚未正式开始西瓜换房活动”。据媒体报道，该楼盘推出的“西瓜换房，最高抵10万元”宣传海报显示，西瓜换房活动时间为6月28日至7月15日，以10元每斤收购西瓜，冲抵房款，每套房收购上限为1万斤，最高可抵10万元。

• Shares in Qinghai Salt Lake Industry surged 5 percent on Tuesday after the Chinese potash giant said late Monday that its new plant for lithium carbonate, a core raw material used to make electric car batteries, with an output of 20,000 tons a year, became fully operational this week. 

  盐湖股份2万吨碳酸锂产能贯通：6月27日晚间，盐湖股份公告称，控股子公司青海盐湖蓝科锂业投资建设的2万吨/年电池级碳酸锂项目沉锂装置，于2022年6月26日全线完成试车任务，产品主含量达到电池级标准。受消息提振，28日盐湖股份收盘大涨5%。

• China's civil aviation transport has recorded a notable rebound since June. From June 24 to 26, the number of flights exceeded 10,000 daily for three consecutive days, rebounding to about 60 percent of figures before the pandemic, said the Civil Aviation Administration of China on Tuesday.

  民航单日航班量突破1万：据报道，6月24日至26日，民航单日航班量连续3日突破1万班；三天的航班量分别达到10609班、10083班、10198班，总体恢复至疫情前约60%。

• China’s state-owned enterprises(SOEs) reported a 6.5-percent decline year on year in their combined profits to 1.63 trillion yuan in the first five months, while the operating revenue rosed 9.2 percent year on year to 30.88 trillion yuan in the period, according to data from the Ministry of Finance on Tuesday.

  前5月国企利润同比下降6.5%：财政部最新数据显示，1-5月，国有企业利润总额16310.7亿元，同比下降6.5%；国有企业营业总收入308831.3亿元，同比增长9.2%。

Switching gears to financial news

金融市场消息

• Chinese and Hong Kong securities regulators jointly announced plans Tuesday to launch a system to allow eligible investors in the city and the mainland bourses in Shanghai and Shenzhen to buy and sell exchange-traded funds (ETFs) in each other’s markets. Under the ETF Connect program, trading of eligible funds will start July 4, the Hong Kong Securities and Futures Commission (SFC) and the China Securities Regulatory Commission (CSRC) said. The initial batch of eligible ETFs include four Hong Kong funds open to mainland investors and 83 A-share funds open to Hong Kong investors. 

  互联互通ETF交易7月4日开始：6月28日，中国证监会、香港证监会宣布，互联互通（内地与香港股票市场交易互联互通机制）下的ETF（交易型开放式基金）交易将于2022年7月4日开始。联合公告显示，两地监管机构在ETF纳入互联互通的准备工作上通力合作。目前，相关业务规则、操作方案及监管安排均已确定，技术系统已准备就绪。

• Shares in CATL faltered today after the Chinese electric car battery giant said it will invest half the funds secured in a recent fundraising scheme, around 23 billion yuan, that is meant to go towards capacity expansion in wealth management projects. The company just completed a 44.9 billion yuan private placement of new shares four days earlier to build four new factories.

  宁德时代230亿购买理财：6月27日晚间，宁德时代公告称，公司第三届董事会第六次会议同意公司使用不超过人民币230亿元向特定对象发行股票闲置募集资金进行现金管理，投资安全性高、流动性好的保本型投资产品。从公告来看，本次进行现金管理的资金来源于前不久刚完成的450亿定增，定增方案表示资金将主要用于扩建动力电池产能。周三宁德时代股价跌2.11%。

Wrapping up with a quick look at the stock market

股市收盘情况

• Chinese stocks slid on Wednesday as investors locked in profits after a strong recent rebound. The Shanghai Composite fell 1.4 percent and the Shenzhen Composite dropped 2.2 percent. In Hong Kong, the Hang Seng Index closed 1.88 percent lower and the TECH index lost 3.27 percent. 

  周三A股集体走弱。沪指跌1.4%，深成指跌2.2%，创业板指跌2.53%。板块方面，房地产开发、大基建、医美概念板块涨幅居前，汽车产业链、HJT电池、钠离子电池板块跌幅居前。港股恒生指数收跌1.88%，恒生科技指数收跌3.27%。

Biz Word of the Day

财经词汇划重点

• A state-owned enterprise (SOE) is a legal entity that is created by a government in order to partake in commercial activities on the government's behalf. It can be either wholly or partially owned by a government and is typically earmarked to participate in specific commercial activities.

  国有企业，是指国务院和地方人民政府分别代表国家履行出资人职责的国有独资企业、国有独资公司以及国有资本控股公司，包括中央和地方国有资产监督管理机构和其他部门所监管的企业本级及其逐级投资形成的企业。

Executive Editor: Sonia YU

Editor: LI Yanxia

Host: Stephanie LI

Writer: Stephanie LI, ZENG Libin ,JIA Yuxiao, , XIE Kaishan

Sound Editor: ZENG Libin

Graphic Designer: ZHENG Wenjing, LIAO Yuanni

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

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、曾丽镔、贾雨逍、谢凯珊

音频制作：曾丽镔

设计：郑文静、廖苑妮

21世纪经济报道海外部 制作

南方财经全媒体集团  出品