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 property sector contracted in third quarter as tougher regulation hit home;

• Premier Li Keqiang urged more support for SMEs to lighten their cost-induced pressure.

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

中国经济要闻

China's property market continued to ease in September amid strict government regulations to curb housing speculation, official data showed Wednesday.

Both new and pre-owned home prices in China's 70 big and medium-sized cities increased at a slower pace in September from a year earlier, data from the National Bureau of Statistics (NBS) showed.

New home prices in four first-tier cities stood unchanged while prices of second-hand homes edged down 0.4 percent last month from that in August.

Since the beginning of this year, China has implemented mechanisms to curb housing speculations while supporting purchases by families with pressing needs. For example, Xiamen in Fujian Province has prohibited first-time homebuyers from reselling their properties until the sixth year. 

Meanwhile, regulators closely monitored loans to homebuyers and real estate companies. The latest NBS data showed that output in the real estate and construction industries shrank 1.6 percent and 1.8 percent respectively in the third quarter, first contraction since the onset of the Covid-19 pandemic.

More Chinese officials sought to reassure investors and homeowners on Wednesday over a debt crisis afflicting the country's property sector. Vice Premier Liu He told the Financial Street Forum yesterday that overall risks in the property market are controllable, and the property market is on track for healthy development.

多年来“只涨不跌”的中国楼市，9月首次出现普跌，市场拐点真的来了。

国家统计局10月20日公布的商品住宅销售价格变动情况统计数据显示，9月份70个大中城市商品住宅销售价格环比总体呈略降态势，同比涨幅持续回落。其中，一线城市新建商品住宅销售价格环比由上月上涨0.3%转为持平，二手住宅销售价格环比由上月上涨0.2%转为下降0.4%。

国家统计局发言人付凌晖表示，今年以来，通过完善房地产市场的长效机制，抑制不合理需求，推动刚性需求平稳释放，限制部分房地产企业依靠举债盲目扩张。例如，福建省厦门市进一步加强对房产的限制，规定在岛内新购买的一手住房，需取得产权证后满5年方可上市交易。

分析人士指出，房地产信贷紧缩是本轮调控效果明显的主要原因。受“三道红线”、房贷集中度管理等房地产金融审慎管理机制影响，房企资金趋紧。

1-9月房地产业GDP同比下滑1.6％，建筑业GDP同比下滑1.8％，这是疫情以来，两个行业数据首次出现下滑。但对市场的预期也无需悲观，房地产长效机制的基调下，所有调控举措的最终目的是维护房地产市场健康长期发展。近期央行频繁表态，对部分银行执行中的过度收缩问题予以“纠偏”。国务院副总理刘鹤在20日的2021金融街论坛年会上再次重申，目前房地产市场出现了个别问题，但风险总体可控，合理的资金需求正在得到满足，房地产市场健康发展的整体态势不会改变。

• China introduced the development of the first batch of national parks on a press conference this morning. The five new parks unveiled earlier this month that spread across 230,000 square kilometres and covers nearly 30 percent of the key terrestrial wildlife species found in China, include Sanjiangyuan National Park, Wuyi Mountain National Park, Giant Panda National Park, Northeast China Tiger and Leopard National Park, and Hainan Tropical Rainforest National Park. 

  10月21日，国新办发布会上，国家林业和草原局等介绍了首批国家公园建设发展情况。首批国家公园名单分别是三江源国家公园、大熊猫国家公园、东北虎豹国家公园、海南热带雨林国家公园、武夷山国家公园，涉及10个省区23万平方公里，涵盖近30%的陆域国家重点保护野生动植物种类。

Update on COVID-19

疫情简报

• The Chinese mainland reported 13 new local cases yesterday, with most from the northern provinces of Gansu, Ningxia and Inner Mongolia.

  全国昨日新增13例本土确诊病例（甘肃5例，宁夏4例，内蒙古2例，湖北2例）。

Next on industry and company news

产经消息及公司新闻

• Premier Li Keqiang said on Wednesday that China will take a more “multipronged, inclusive and targeted” approach to step up relief for micro, small and medium-sized enterprises (MSMEs), urging local governments to cut taxes, rents and utility bills in order to help MSMEs to tide over this difficult time. 

  国务院总理李克强10月20日主持召开国务院常务会议，要求进一步加大对中小微企业纾困的政策支持力度。会议指出，保中小微企业等市场主体，就是保就业，要多策并举有针对性加大助企纾困力度，鼓励地方对中小微企业在减免房屋租金、水电费等方面给予支持，减轻企业负担，帮助渡过难关。

• The National Development and Reform Commission said it is reviewing measures to intervene in prices and has “zero tolerance” for those spreading false information or engaging in market collusion. China’s thermal coal futures then fell by the limit in overnight trading, ending a surge in which the fuel more than doubled since the beginning of September amid power restrictions.

  10月19日下午，国家发展改革委组织重点煤炭企业、中国煤炭工业协会、中国电力企业联合会召开今冬明春能源保供工作机制煤炭专题座谈会，研究依法对煤炭价格实施干预措施，提到市场监管部门将加大执法检查力度，坚持“零容忍”，严厉打击散播虚假信息、价格串通、哄抬价格、囤积居奇等违法行为，切实维护市场秩序。随后，动力煤期货在次日交易中跌至停板，结束了自9月初以来燃料价格上涨一倍多的上涨趋势。

• In a Wednesday filing, Evergrande said talks to sell 50.1 percent of its shares in Evergrande Property Services Group for about HK$20 billion were terminated last week, citing that purchaser was believed to have not met the prerequisite.

  中国恒大20日发布公告，原计划约200.4亿港元将恒大物业50.1%股权转让给合生创展的协议终止。恒大称公司有理由相信受让方未能符合对恒大物业股份作出全面要约收购的先决条件，公司于2021年10月13日行使权利解除/终止该协议。

• Cash-strapped Baoneng Investment Group slapped “for sale” signs on a bag of assets including an office building, a logistics park, plots of land and equity in financial companies in hopes of scraping up funds to shrink its $31 billion debt mountain. 

  为偿还近2000亿债务，宝能集团正启动包括总部深圳宝能中心等8个重点专项资产的出售计划，评估价值超1000亿元。

• Zhang Yiming, co-founder of the company behind short-video sensation TikTok, has become the richest person in China’s internet industry for the first time, according to Forbes’ real-time billionaire ranking.

  10月20日，福布斯全球实时富豪榜显示，字节跳动创始人张一鸣以594亿美元的身家，超过腾讯马化腾，成为中国互联网首富。

Switching gears to the financial sector

金融市场要闻

• China’s internet platforms need to do more to comply with regulators’ demands for changes ordered amid a wide-ranging campaign that started last year to tighten oversight of their financial businesses, Chairman of the China Banking and Insurance Regulatory Commission Guo Shuqing said on Tuesday, indicating that internet companies will announce more measures to restructure their financial services to address concerns that their activities could pose risks to the financial system and have also led to unfair competition. 

  银保监会主席郭树清指出，在我国金融某些领域、某些环节垄断和不正当竞争问题突出。在针对14家互联网平台的整改中，金融管理部门先后提出上千个问题，大部分已得到积极响应，一半左右已经落地。

Wrapping up with a quick look at the stock market

最后来看股市收盘情况

• Chinese stocks closed mixed on Thursday with the benchmark Shanghai Composite Index up 0.22 percent at 3594 points. The Shenzhen Component Index closed flat at 14444 points. The Hang Seng Index lost 0.45 percent to close at 26017 points. 

  周四A股股市涨跌不一，截至收盘，沪指涨0.22%，报收3594点；深成指跌0.05%，报收14444点。港股恒生指数跌0.45%，报收26017点。

Biz Word of the Day

财经词汇划重点

• A Selective Default rating is assigned when S&P Global Ratings believes that the obligor has selectively defaulted on a specific issue or class of obligations but it will continue to meet its payment obligations on other issues or classes of obligations. 

  选择性违约是标准普尔对主权债务的一个评级级别，指其违约仍处可控范围，在某些债务上违约了，但是在另一些债务上没有违约。

（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, TIAN Chang

Producer: XIANG Xiufang

Sound Editor: ZHANG Ran, Andy YUAN

Graphic Designer: ZHENG Wenjing, LIAO Wanni

Co-produced by 21st Century Business Herald Dept. of Overseas News & SFC Audio/Video Dept.

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、张然、田畅

监制：向秀芳 

音频制作：张然、袁思杰 

设计：郑文静、廖苑妮

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