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 consumer price in April rose 2.1% to its highest annual pace in five months, while producer price growth slowed to 8%;

• China will launch pilot projects for integration of domestic and foreign trade.

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

中国经济要闻

China's producer price index (PPI) rose in April at the slowest rate in a year as the government took steady steps to ensure stable supplies and prices amid international commodity price hikes, the National Bureau of Statistics (NBS) said on Wednesday.

China's PPI, which gauges factory-gate prices, increased 8 percent year-on-year in April, easing back from 8.3 percent in the previous month, the NBS said.

Meanwhile, consumer price index (CPI), a main indicator of inflation, rose by 2.1 percent year-on-year in April, the fastest pace in five months, after a gain of 1.5 percent in the previous month, the NBS data showed, which was mainly attributed to the increase in food prices with fresh vegetables, fresh fruits and eggs prices. 

In the context of the Russia-Ukraine conflict,  international oil prices which continued running at high level also pushed up the prices of non-food items with gasoline and diesel prices rising 2.8 percent and 3 percent respectively from the previous month.

Analysts said the latest round of epidemic, energy price fluctuations, rise of pork prices and the low base effect from last year is expected to drive the inflation in the short term. As the epidemic is gradually brought under control and the government continues rolling out measures to stabilise prices and unclog logistics supply chains, prices will return to the normal level. 

国家统计局5月11日公布的数据显示，2022年4月份，全国工业生产者出厂价格（PPI）同比上涨8.0%，涨幅比上月回落0.3个百分点；全国居民消费价格（CPI）同比上涨2.1%，涨幅比上月上涨0.6个半分点，创5个月新高。

国家统计局城市司高级统计师董莉娟称，4月份，尽管国际大宗商品价格高位运行，但各地区各部门坚决贯彻落实保供稳价决策部署，PPI环比和同比涨幅均有所回落。

董莉娟表示，4月份，受国内疫情及国际大宗商品价格持续上涨等因素影响，CPI温和上涨。其中，食品烟酒类价格同比上涨1.9%，影响CPI（居民消费价格指数）上涨约0.54个百分点。各地区各部门多措并举做好保供稳价，扣除食品和能源价格的核心CPI稳中有降，同比上涨0.9%，涨幅比上月回落0.2个百分点。

• China will launch pilot projects to advance the integration of domestic and foreign trade by removing institutional barriers, according to a notice jointly issued by China’s Ministry of Commerce together with 14 government departments on Tuesday. The notice set a clear target of using three years to cultivate a number of companies in domestic and foreign trade integrated businesses, building corresponding supportive platforms, and forming a group of industrial clusters with international competitiveness and integrated development. 

  推进开展内外贸一体化试点：5月10日，商务部等14部门发布《关于开展内外贸一体化试点的通知》。《通知》要求，力争用3年时间，在完善内外贸一体化调控体系，促进内外贸法律法规、监管体制、经营资质、质量标准、检验检疫、认证认可衔接等方面积极创新、先行先试，培育一批内外贸一体化经营企业，打造一批内外贸融合发展平台，形成一批具有国际竞争力、融合发展的产业集群，建立健全促进内外贸一体化发展的体制机制，形成可复制推广的经验和模式，为促进内外贸融合发展发挥示范带动作用。

Update on COVID-19

疫情简报

• Shanghai’s municipal health commission said on Wednesday that eight districts in the city had achieved “zero-COVID” status, as the number of infections continues to fall. Shanghai reported 228 locally confirmed cases and 1,259 local asymptomatic cases yesterday.

  上海8区社会面清零：5月11日，上海举行疫情防控工作新闻发布会上称，上海徐汇区达到社会面基本清零标准，截至目前，上海已有8个区和浦东新区部分街镇社会面基本清零。5月10日，上海新增228例新冠肺炎本土确诊病例和1259例本土无症状感染者。

Next on industry and company news

产经消息及公司新闻

• Sales of new energy vehicles (NEVs) in China surged in April despite COVID-19 resurgences. Last month, the retail sales of NEVs in China expanded 78.4 percent year on year to 282,000 units. The NEV market penetration rate stood at 27.1 percent in April, an increase of 17.3 percent from the same period last year, according to the China Passenger Car Association on Tuesday. 

  4月新能源车销量增近八成：5月10日，乘联会发布数据显示，4月新能源乘用车零售销量28.2万辆，同比增长78.4%；零售渗透率27.1%，同比上升17.3个百分点。

• Chinese property firm KE Holdings’ shares gained 2.5 percent on their Hong Kong debut on Wednesday after the company listed without raising capital. The New York-listed firm carried out a listing by introduction on the Hong Kong Stock Exchange. However, the company is reportedly cutting its staff in a new round of layoff that will involve various divisions, from development to operation,right before its first day listed in Hong Kong.

  贝壳正式登陆港交所：5月11日，中国居住产业数字化服务平台贝壳正式在港交所挂牌上市，成为首家以“双重主要上市+介绍上市”形式返港的中概股，首日收盘涨2.5%，报30.75港元。然而，5月10日贝壳找房再次传出“启动新一轮裁员”的消息。据报道，此次裁员涉及产研、运营、中后台等，多个部门人员出现调整。

• Li Auto’s shares jumped nearly 10 percent in Hong Kong today, after the Chinese electric vehicle maker said its net loss narrowed 97 percent in the first quarter from a year earlier, buoyed by strong sales. Net loss stood at 10.9 million yuan, versus 360 million yuan a year earlier, the Beijing-based firm said in its latest earnings report released Wednesday. Revenue soared 167.5 percent to 9.6 billion yuan, buoyed by a nearly 169 percent leap in vehicle sales.

  理想汽车一季度收入大增：理想汽车10日晚间公布一季度财报。财报显示，一季度营收为95.6亿元，同比增加167.5%。车辆销售收入为93.1亿元，较2021年第一季的34.6亿元增加168.7%。虽仍处亏损状态，一季度净污损1090万元， 但先比上年同期净亏损3.6亿元，亏损幅度大幅降低。今天理想汽车领涨港股汽车板块，收涨9.75%。

• Chinese auto giant Geely Automobile Holdings agreed to buy a 34 percent stake in French automaker Renault’s Korean joint venture, becoming the company’s second-largest shareholder. Geely is paying about 1.38 billion yuan for the stake in Renault Korea Motors, the company said Tuesday in a filing. (Cr: caixin)

  吉利入股雷诺韩国：5月10日，吉利汽车发布公告。吉利汽车已经与雷诺韩国汽车公司签署协议，以13.76亿元认购其增发股份。交易完成后，吉利汽车在雷诺韩国持股34.02%，成为第二大股东。

• Nio has signed a partnership deal with the economic development zone of Hefei, capital of China’s Anhui province, to build a new vehicle and auto parts plant for the electric carmaker’s new brand. The project is scheduled to be ready for production in 2024 and will occupy a nearly 1,900-acre site, according to the news released on Tuesday.

  蔚来新项目“扎根”合肥：5月10日，合肥市经开区宣布与蔚来就NeoPark新桥智能电动汽车产业园区整车二期和关键核心零部件配套项目签署合作协议。该项目占地1860亩，计划于2024年建成投产。

• China Eastern Airlines is planning to raise 15 billion yuan through the non-public issuance of shares and use the money to purchase 38 new aircrafts and replenish liquidity, the Shanghai-based company announced yesterday.

  东航拟定增募资150亿元：中国东航5月10日公告，拟非公开发行募集资金总额不超过150亿元（含本数），扣除发行费用后的募集资金净额将用于引进38架飞机项目和补充流动资金。 

Switching gears to the financial sector

金融市场要闻

• Short-term fluctuations will not alter the positive long-term foundations of China's capital market, Wang Jianjun, vice chairman of the CSRC, said on Tuesday. This year, long-term funds have maintained net inflows into the Chinese market, indicating that foreign investors are optimistic about the investment value of the A-share market, Wang said. 

  外资仍对中国经济有信心：5月10日，证监会副主席王建军接受采访时表示，“市场短期波动不会改变我国资本市场长期向好的大趋势。从历史经验看，近期外资流动和交易情况并没有发生根本性变化。从结构上看，今年以来配置型、长线资金保持净流入。这表明外资看好A股的长期投资价值，也反映了外资对中国经济长期向好的信心。” 

• China will further expand the industry catalog of sectors encouraging foreign investment, adding 238 more items and modifying 114 existing ones, said a notice issued by China's National Development and Reform Commission and the Ministry of Commerce (MOC) on Tuesday. The increase is particularly relevant to items related to manufacturing, producer services, and those in the central and western regions. 

  扩大鼓励外商投资产业目录：5月10日，国家发展改革委、商务部发布《鼓励外商投资产业目录（2022年版）（征求意见稿）》。与2020年版相比，《目录》新增238条，修改114条。在修订方向上，持续鼓励外资投向制造业、生产性服务业、中西部和东北地区。

• The Securities Association of China is introducing a professional reputation system partly accessible to the public that will do background checks on the 350,000 employees of securities firms in the country. The new system will keep a record of the brokers’ personal information, bonuses, any law violations, credit defaults as well demotions, dismissals and other internal company penalties. 

  券业版个人征信系统将上线：5月10日，中国证券业协会起草了《证券行业执业声誉信息管理办法（审议稿）》。目前证券业从业人员约35万人，根据管理办法，所有证券业从业人员的基本信息、奖励信息、违法失信信息、其他正面信息、其他负面信息都将被系统记录，效力期限为三年。

Wrapping up with a quick look at the stock market

最后来看股市收盘情况

• Chinese stocks ended higher on Wednesday as investors took comfort in signs of lower domestic COVID-19 infections. The Shanghai Composite gained 0.75 percent and the Shenzhen Component was up 1.8 percent. Sectors related to chips, lithium battery, and automobile were among the top gainers. The Hang Seng Index closed 0.97 percent higher, lifted by tech and NEV sectors. 

  周三A股集体收涨。截止收盘，沪指涨0.75%，深成指涨1.8%，创业板指涨3.07%。板块方面，芯片、锂电、汽车整车等涨幅居前，农业、教育、地产等走弱。恒生指数收涨0.97%，恒生科技指数收涨2.89%，汽车股、科技股大涨。

Biz Word of the Day

财经词汇划重点

• Market penetration is a measure of how much a product or service is being used by customers compared to the total estimated market for that product or service. It can be used in developing strategies employed to increase the market share of a particular product or service.

  市场渗透率是对市场当前需求和潜在市场需求的一种比较，其力求增大产品的市场占有率，影响商家的利润、消费者的收益。

（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, CHEN Zihui, XIE Kaishan

Sound Editor: ZHANG Ran, CHEN Zihui, XIE Kaishan

Graphic Designer: ZHENG Wenjing, LIAO Yuanni

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、陈梓慧、谢凯珊

音频制作：张然 、陈梓慧、谢凯珊

设计：郑文静、廖苑妮

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