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
Sweeping measures to support China's property sector set stocks on a rise;
Double 11 e-commerce sales jumped 14% to 1.1 trillion yuan.
Here’s what you need to know about China in the past 24 hours
中国经济要闻
Chinese regulators have asked financial institutions to extend more support to property developers to shore up the country’s struggling real estate sector, media confirmed Sunday.
The People's Bank of China and the China Banking and Insurance Regulatory Commission outlined 16 steps to support the industry, including loan repayment extensions, to ensure stable and healthy development of the country's real estate sector.
The document outlines the need to stabilize the issuance of property development loans, especially that state-owned and private developers should be treated equally and that lenders should support developers' reasonable fundraising needs by appropriately differentiating potential risks between groups and subsidiaries.
Starting from November 11, developers' outstanding bank loans and trust borrowings due within six months can be extended for no more than a year. Major lenders of residential projects that are facing construction delays should offer additional financial support, the circular added.
In addition, trust companies are encouraged to offer reasonable real estate firms funding support, widely viewed as a new policy development.
Local governments are supported to “reasonably” set down-payment thresholds and mortgage rate floors in a city-specific approach to accommodate basic and improving housing demand, and give assistance for deferred-payment loans for homebuyers.
Policy banks should offer special loans “in an efficient and orderly manner” to ensure property projects are delivered, according to the measures.
The notice comes as policymakers recently ramped up support for crash-strapped developers. Last week, Chinese regulators expanded a key financing support program, also dubbed “the second arrow”, to about 250 billion yuan designed for private firms including real estate companies,.
By Monday’s close, a handful of property developers including Guangzhou Yuetai Group, Macrolink Group and Gemdale Group rose by the daily cap of 10 percent. Chinese property stocks in Hong Kong also soared, with Country Garden up 45 percent. Agile Group, R&F Properties and Logan Group jumped over 30 percent.
13日，21世纪经济报道记者从房企、投行和券商等多方机构处获悉，央行、银保监会于近日发布了《关于做好当前金融支持房地产市场平稳健康发展工作的通知》。
从内容看，通知包含16项举措，主管部门主要围绕保持房地产融资平稳有序、积极做好“保交楼金融服务”以及积极配合做好受困房地产企业风险处置、依法保障住房金融消费者合法权益、阶段性调整部分金融管理政策和加大住房租赁金融支持力度等方面部署工作。
其中，关于房地产金融方面的内容则有很大看点。通知显示，稳定房地产开发贷款投放；支持个人住房贷款合理需求；支持开发贷款、信托贷款等存量融资合理展期；保持债券融资基本稳定；支持开发性政策性银行提供“保交楼”专项借款；延长房地产贷款集中度管理政策过渡期安排等；鼓励金融机构尤其是项目按揭贷主融资商业行提供配套“保交楼”融资支持等。
此外，在保持房地产融资平稳有序方面，稳定房地产开发贷款投放，坚持“两个毫不动摇”，对国有、民营等各类房地产企业一视同仁。这意味着，长久以来，央企、国企是房地产融资市场主力的局面或将被“打破”，民营房企有望进一步得到融资支持。
同时，支持各地因城施策实施好差别化住房信贷政策，合理确定当地个人住房贷款首付比例和贷款利率政策下限，支持刚性和改善性住房需求。鼓励金融机构与购房人等相关方依法自主协商个人住房贷款延期还本付息，对于因疫情住院治疗或隔离，或因疫情停业失业而失去收入来源的个人，以及因购房合同发生改变或解除的个人住房贷款，金融机构可按市场化、法治化原则与购房人自主开展协商，进行延期展期等调整，相关方都要依法依规、信守合同、践行承诺。
受消息影响，今日地产股高开高走。截至收盘，A股房地产开发板块包括粤泰股份、金地集团、新城控股等在内的股票涨停。港股内房股也大幅上涨，碧桂园涨45%，龙光集团、富力地产、雅居乐集团等均涨超30%。
Moving on to regional highlights
区域观察
The Kela-Keshen gas field, the first trillion-cubic-meter scale gas field in Tarim Basin in Xinjiang, has produced more than 200 billion cubic meters of natural gas, with six gas wells reaching a cumulative production exceeding 10 billion cubic meters and 17 wells reaching a cumulative production exceeding one billion cubic meters, providing a solid source for a stable gas supply for the west-east gas transmission, media reported on Monday.
克拉-克深大气区累产2000亿立方米天然气：截至11月11日，位于南天山脚下的西气东输主力气源地——塔里木油田克拉-克深万亿立方米大气区，累计生产天然气2005.91亿立方米，相当于替代标准煤1.81亿吨，减排二氧化碳1.97亿吨。克拉—克深气区是我国首个超深万亿立方米大气区。今年，塔里木油田实施克拉2气田开发调整和克深气田100亿立方米稳产工程，为西气东输夯实“底气”。克拉—克深气区已诞生6口累产超百亿立方米的气井、17口累产超10亿立方米的气井。
Greater Bay Area, Greater future
新使命，大未来
The Hong Kong SAR government will steadily promote the development of virtual assets (VA), after the city worked out a policy stance to build a vibrant VA sector on October 31, the city’s Financial Secretary Paul Chan said Sunday. Chan said the policy stance has been supported by local industrial firms, while multiple enterprises have been considering expanding operations in Hong Kong or bringing businesses back to the city. Pilot programs, including the tokenization of green bonds, are expected to be launched before the end of 2022, marking the first tokenized government green bond in the world.
香港发展虚拟资产获业界支持：香港特区政府财政司司长陈茂波13日发表网志称，上月底发表的《有关虚拟资产在港发展的政策宣言》展示了特区政府与业界一同探索金融创新的决心和承担，得到虚拟资产业界的普遍认同和支持。而我们在拥抱创新的同时，也要适当管控风险。陈茂波在网志中表示，在政策宣言中提出的几个试验计划，包括将新一批供机构投资者认购的绿色债券以代币化方式发行，预计今年年底前推出，将成为全球首批代币化的政府绿色债券。
Next on industry and company news
产业及公司新闻
Prices of international flights to and from China fell about 18 percent in November after the country eased Covid-19 control measures for overseas arrivals. The average price of inbound and outbound flights in November fell to about 8,783 yuan from a month earlier, according to data from umetrip.com.cn. China scrapped the “circuit breaker” mechanism for inbound flights, and cut the quarantine period for arrivals by two days, the State Council said in a circular on Nov. 11. Moreover, only one negative nucleic acid test within 48 hours is required before boarding, instead of two. Fliggy data showed that one hour after the policy was announced, search traffic for international air tickets on the platform increased threefold compared with the day before.
国际航班票价降18%：航旅纵横数据显示，11月1-10日，出入境航线平均支付票价（不含税）约为8783元，比上月同期下降约18%。11月11日中午，国务院联防联控机制综合组发布《关于进一步优化新冠肺炎疫情防控措施 科学精准做好防控工作的通知》，公布进一步优化防控工作的二十条措施。其中明确提出多项利好措施，包括对入境人员，将“7天集中隔离+3天居家健康监测”调整为“5天集中隔离+3天居家隔离”等。同时还提及，取消入境航班熔断机制，并将登机前48小时内2次核酸检测阴性证明调整为登机前48小时内1次核酸检测阴性证明。
Chinese e-commerce platforms saw sales jump 13.7 percent to 1.1 trillion yuan over the course of this year’s Double 11 shopping festival. Gross merchandise volume at e-commerce sites such as Alibaba’s Tmall marketplace, JD.com, and Pinduoduo, rose 2.9 percent to 934 billion yuan between Oct. 24 and Nov. 11 from a year ago, according to figures compiled by Xingyun Data. The GMV for livestreaming e-commerce platforms, including Douyin, Diantao, and Kuaishou, soared 146 percent to 181.4 billion yuan. For the first time since the first Double 11 in 2009, Tmall and JD did not disclose their GMVs for the annual retail extravaganza.
“双十一”数据出炉：随着“双十一”收官，电商平台和第三方监测平台陆续发布了成绩单。星云数据显示，今年“双十一”，全网GMV达到11154亿元，同比增长13.7%。其中以天猫、京东、拼多多为代表的综合电商总交易额为9340亿元，同比增长了2.9%。抖音、点淘、快手为代表的直播电商今年“双十一”总交易额为1814亿元，同比增长146.1%。天猫、京东今年未官宣成绩单，天猫在“双十一”收官时表示，今年天猫“双十一”稳中向好，交易规模与去年持平。京东则表示，今年“双十一”超越行业增速，创造了新的纪录，零售购物用户数也再创佳绩。
300 Air ev, the Indonesia-made new-energy vehicles from Chinese car maker SAIC-GM-Wuling Automobile, were unveiled at the G20 Summit in Indonesia. Air ev was appointed as the official vehicle of the G20 Summit for summit delegation and organizing committee, the company said in a statement on Sunday.
300辆中企电动车服务G20：近日，300辆由上汽通用五菱印尼公司生产的新能源车Air EV穿梭于印度尼西亚巴厘岛G20峰会举办地，作为会议的官方用车为各代表团和组委会提供日常通勤服务。据介绍，该新能源汽车每充满一次电可行驶200公里，能够满足峰会用车需求。
China's Ministry of Industry and Information Technology (MIIT) said that financing for virtual reality (VR) industry across the nation saw 100 percent year-on-year increase in 2021, and the ministry plans to set up a national-level manufacturing center to boost the sector, media reported on Sunday.
去年我国VR投融资规模涨幅超100%：12日消息，近年来，我国虚拟现实产业加速发展，投融资信心和活跃度进入一轮新高潮。2021年我国虚拟现实领域投融资规模涨幅超过100%；相关企业已经超过1万家。
China accelerated investment in water conservation projects this year, with a total investment of 921.1 billion yuan in the first 10 months, a record high, data from the Ministry of Water Resources (MWR) showed. Construction started on 24,000 new water conservation facilities, also a record.
今年前10月我国完成水利投资逾9000亿元：水利部13日消息，我国水利建设加快推进，今年前10月完成水利投资9211亿元，创同期历史新高。统计显示，今年1月至10月，全国新开工水利项目2.4万个，为历史同期最多。
Switching gears to financial news
金融市场消息
The Beijing Stock Exchange on Sunday unveiled detailed rules for margin trading and securities lending to prepare for the start of such businesses. The new businesses will help meet investors' diversified trading demand, improve the pricing function of the market and boost market liquidity, according to the bourse. The rules are generally in line with those of the Shanghai and Shenzhen stock exchanges, which have already launched the businesses.
北交所融资融券交易细则出炉：近日，北交所发布《北京证券交易所融资融券交易细则》，配套发布《北京证券交易所融资融券业务指南》，对会员业务开展流程、交易业务管理、保证金和维持担保比例管理、投资者适当性管理等方面予以规定。有关负责人介绍，投资者可以在预测证券价格将要上涨时融资做多来放大收益，或在预测证券价格将要下跌时融券做空获取收益，还可以通过融券交易对冲持仓风险。交易所引入融资融券交易，有利于吸引增量资金，改变“单边市”状况，促进市场双向价格发现，进一步改善市场流动性和定价效率。
The number of investor accounts in China rose by over 13 million in the first 10 months of the year as market sentiment picked up, according to the latest data from the China Securities Depository and Clearing. By the end of last month, the total number of Chinese investors exceeded 210 million.
今年超1300万投资者入场：中国结算最新数据显示，截至今年10月底，我国投资者总数已突破2.1亿户（含已开立A、B股账户）。从全年来看，2022年前10个月，我国投资者账户数量累计增长了1304万户。
Wrapping up with a quick look at the stock market
股市收盘情况
Chinese shares ended lower on Monday, while the Chinese yuan strengthened 1008 price interest points against the greenback today as the US dollar index continues to slide. The benchmark Shanghai Composite slid 0.13 percent and the Shenzhen Component fell 0.24 percent. Hong Kong stocks ended with another healthy gain as property firms rallied on a series of supportive measures. The Hang Seng extended 1.7 percent, while the TECH index gained 1.8 percent.
A股震荡调整港股续涨：周一A股三大股指全天震荡调整，创业板指领跌。截至收盘，沪指跌0.13%，深成指跌0.24%，创业板指跌1.25%。房地产板块延续上周五涨势，金地集团、新城控股、新华联等涨停。医药股集体反包大涨，北向资金全天净买入166.02亿元，创年内最大单日净买入。人民币兑美元中间价报7.0899，较上一交易日上调1008点。港股继续扩大涨势，恒生指数收涨1.70%，恒生科技指数收涨1.80%，地产、医药股领涨。
Biz Word of the Day
财经词汇划重点
The debt financing tools, dubbed “the second arrow” and supported by People’s Bank of China’s refinancing, first launched in 2018, offers funding support via relending facilities while market institutions purchase the notes or provide credit enhancement services. The State Council executive meeting held on October 22 decided to set up a bond financing tool for private enterprises, in which the PBOC provides part of the initial funds by relending, and provide liquidity support for private enterprises with temporary difficulties.
第二支箭，指民营企业债券融资支持工具。设立民营企业债券融资支持工具，由人民银行运用再贷款提供部分初始资金，由专业机构进行市场化运作，通过出售信用风险缓释工具、担保增信等多种方式，为经营正常、流动性遇到暂时困难的民营企业发展提供增信支持。2018年，针对部分民营企业遇到的融资困难问题，经国务院批准，人民银行会同有关部门，从信贷、债券、股权三个融资渠道采取“三支箭”的政策组合，支持民营企业拓展融资。
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
编委: 于晓娜
策划、编辑：李艳霞
播音：李莹亮
撰稿：李莹亮
音频制作：李莹亮
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
