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 foreign trade grows 9.5% year-on-year in Jan-Oct;

• An implementation plan for private pensions was unveiled.

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

中国经济要闻

China's foreign trade rose 9.5 percent year-on-year in the first 10 months of the year, maintaining steady operation characterized by close regional cooperation and an increasingly diversified international market layout, according to Monday's customs data.

During this period, China's imports and exports totaled 34.62 trillion yuan ($4.8 trillion), up 9.5 percent on a yearly basis, according to data released by the General Administration of Customs (GAC). The country's exports grew by 13 percent year-on-year to 19.71 trillion yuan, while imports went up by 5.2 percent year-on-year to 14.91 trillion yuan, according to the GAC.

In October alone, China's exports grew 7 percent year-on-year, slower than the reading of 10.7 percent seen in September. As a sign of continuous rebound in domestic demand, the country's imports jumped 6.8 percent year-on-year, quickening from the 5.2 percent year-on-year growth of the previous month.

It's worth noting that China has maintained close economic cooperation with regional partners and the country's diversified international layout has been increasingly optimized. Trade with Belt and Road Initiative (BRI) economies jumped 20.9 percent between January and October, while trade with the other 14 members of the Regional Comprehensive Economic Partnership (RCEP) rose by 8.4 percent year-on-year.

ASEAN has been China's largest trading partner in the first 10 months, with the two sides' trade hitting 5.26 trillion yuan, up 15.8 percent year-on-year. China's trade with the EU - its second-largest trade partner - grew 8.2 percent year-on-year, while that with the US went up 6.8 percent year-on-year to reach 4.21 trillion yuan, according to the GAC.

Another outstanding characteristic of China's trade sector during the period is the sound performance of private companies, underlying the vitality of the country's private economy. According to the GAC, the imports and exports of the country's private sector stood at 17.44 trillion yuan, up 14.4 percent year-on-year in the first 10 months.

海关总署今天（7日）公布，今年前10个月，我国外贸进出口总值34.62万亿元，同比增长9.5%，外贸继续保持平稳运行。

海关统计显示，今年前10个月，我国外贸进出口总值34.62万亿元，同比增长9.5%。其中出口19.71万亿元，同比增长13%；进口14.91万亿元，同比增长5.2%。其中，一般贸易进出口22.09万亿元，同比增长13.3%，占我国外贸进出口总值的63.8%，比去年同期提升2.1个百分点。

前10个月，我国民营企业进出口总值占整体的比重超过一半，进出口增速高出全国外贸整体增速4.9个百分点，成为拉动我国外贸发展的重要力量。民营企业紧盯全球贸易格局变化，不断拓宽渠道、加大自主创新力度，积极开辟海外市场。海关统计显示，今年前10个月，我国民营企业进出口比重提升，外贸主体活力进一步激发，民营企业合计进出口17.44万亿元，同比增长14.4%，占同期我国外贸总值的50.4%，高出去年同期2.2个百分点。

此外，前10个月我国机电产品，尤其是高新技术产品出口表现抢眼。据海关统计，今年前10个月，我国机电产品出口11.25万亿元，同比增长9.6%；其中，电动载人汽车、锂电池、太阳能(7.270, -0.02, -0.27%)电池等出口分别增长116.2%、87.1%、78.6%。

今年前10个月，我国与主要贸易伙伴外贸进出口均保持增长势头。前10个月，东盟为我国第一大贸易伙伴，我国与东盟贸易总值为5.26万亿元，增长15.8%，占我国外贸总值的15.2%；其中，对东盟出口3.06万亿元，增长22.7%；自东盟进口2.2万亿元，增长7.5%。欧盟为第二大贸易伙伴，我国与欧盟贸易总值为4.68万亿元，增长8.1%，占13.5%。其中，对欧盟出口3.11万亿元，增长15.9%；自欧盟进口1.57万亿元，下降4.7%。同期，我国对“一带一路”沿线国家、对RCEP其他14个成员国进出口分别增长20.9%和8.4%，区域合作紧密、多元化国际市场布局继续优化。

• Five Chinese government departments on Friday rolled out a detailed implementation plan for private pensions, following the release of a guideline on pushing forward the development of private pensions to complement the nation's current pension system in April. It specifies the participation process, capital account management, the management of institutions and products, information disclosure, and supervision. Individuals can now make voluntary annual deposits of up to 12,000 yuan into a pension account, and the funds can be used to purchase financial products that are of relatively low risk and have long-term investment horizons. Workers who currently contribute to China's basic pension insurance scheme can participate in the private pension scheme.

  个人养老金投资公募基金业务落地：11月4日,《个人养老金投资公开募集证券投资基金业务管理暂行规定》正式发布实施。《暂行规定》对参与个人养老金投资公募基金业务的各类市场机构及其展业行为予以明确规范。主要规定以下三方面内容：一是明确基金管理人、基金销售机构等机构开展个人养老金投资公募基金业务的总体原则和基本要求，以及基金行业平台职责定位；二是明确个人养老金可以投资的基金产品标准，并对基金管理人的投资管理和风险管理职责作出规定；三是明确基金销售机构的展业条件，并对基金销售机构信息提示、账户服务、宣传推介、适当性管理、投资者教育等职责作出规定。

• Petroleum giant Royal Dutch and German chemical titan BASF will partner with China’s largest petrochemical firm and steel company to build a 10-million-ton carbon dioxide recycling project to help achieve China’s carbon emission reduction goals. Royal Dutch, BASF, Sinopec, and Baowu Steel Group signed a memorandum of understanding in Shanghai on Friday to build a project to capture, use and store carbon dioxide (CCUS) in East China.

  我国首个开放式千万吨级CCUS启动：11月4日，第五届中国国际进口博览会中国石化主题论坛暨中国石化交易分团签约仪式在沪举办。中国石化与壳牌、中国宝武、巴斯夫在上海签署合作谅解备忘录，四方将开展合作研究，在华东地区共同启动我国首个开放式千万吨级CCUS（二氧化碳捕集、利用与封存）项目，助力华东地区工业企业脱碳，引领我国CCUS产业发展。国际国内多家巨头联手布局，将CCUS项目提上千万吨级规模。

Greater Bay Area, Greater future

新使命，大未来

• Hong Kong's Secretary for Financial Services and the Treasury Hui Cheng-yu said Monday that Hong Kong will strive to open a RMB stock trading counter for Hong Kong listed issuers in the second quarter of next year. The relevant legislative amendments will be submitted to the Legislative Council within this year. Hui said HKEX is preparing to introduce a dual-currency stock market maker mechanism, while the SAR government will exempt the market makers from stamp duty on certain transactions to increase the number of renminbi-denominated stocks in circulation.

  明年二季度增设人民币股票交易柜台：11月7日，香港财库局局长许正宇在立法会上表示，争取明年第二季度为香港上市发行人增设人民币股票交易柜台，有关法例修订年内将向立法会提交。为配合有关措施，港交所正准备推出双币股票市场庄家机制，政府也会豁免有关市场庄家的特定交易印花税，以提高人民币计价股票的流通量。

Next on industry and company news

产业及公司新闻

• China's digital economy had reached 45.5 trillion yuan in value by 2021, accounting for 39.8 percent of its GDP, and becomes a major growth engine for the country, according to a white paper published by China's State Council Information Office on Monday. The white paper introduced China's vision of internet development and governance in the new era and its actions, including using digital technologies to facilitate the development of education, medical service, agriculture and poverty alleviation, regulating e-commerce platforms to push for fair competition, as well as strengthening cybersecurity and privacy protection. 

  中国数字经济规模占GDP近四成：国务院新闻办公室7日发布《携手构建网络空间命运共同体》白皮书。白皮书从七个方面总结了中国的互联网发展治理实践：2021年，中国数字经济规模达到45.5万亿元，占GDP比重达到39.8%，数字经济已经成为推动经济增长的主要引擎之一；二是数字技术惠民便民。积极推进互联网用于教育、医疗等公共服务事业，充分发挥互联网在助推脱贫攻坚和乡村振兴中的重要作用；三是网络空间法治体系不断完善；四是网上内容丰富多彩；五是网络空间日益清朗；六是互联网平台运营不断规范。完善促进企业发展和规范运营的制度和机制，加强新技术新应用治理，推动互联网行业自律，促进平台经济公平竞争、有序发展；七是网络空间安全有效保障。加强网络安全顶层设计，强化关键信息基础设施安全保护，提高数据安全保障能力，加强个人信息保护，打击网络犯罪。

• China will actively participate in global intellectual property governance, and speed up cooperation with other economies in the field, so as to jointly promote a higher-level of IPR protection, said the State Administration for Market Regulation on Saturday. In the first three quarters of this year, a total of 29,800 cases of trademark infringement and patent counterfeiting were investigated and dealt with, according to a session at the fifth CIIE.

  中国将积极参与全球知识产权治理：11月5日，第五届中国国际进口博览会“保护知识产权打击侵权假冒国际合作”虹桥分论坛上，国家市场监管总局党组成员、副局长蒲淳表示，中国将大力推进知识产权强国建设，积极参与全球知识产权治理，严厉打击侵权假冒违法行为，加强与世界各国协作，携手开创知识产权保护新局面。

• State-backed plane purchaser China Aviation Supplies Holding will purchase 140 airplanes from Airbus for around $17 billion. China Aviation Supplies announced to buy 132 A320 planes and eight A350 aircraft on its official website on Friday, citing the batch purchase agreement the pair signed in Beijing during German Chancellor Olaf Scholz's visit to China the same day.

  中航材向空客订购140架飞机：11月4日，中国航空器材集团有限公司微信公众号发布消息称，11月4日，德国总理朔尔茨访华期间，中国航空器材集团公司与空客公司在北京签署了140架空客飞机的批量采购协议，其中包括132架A320系列飞机、8架A350飞机，总价值约170亿美元。 

• Customers will experience longer wait times for Apple’s newly released iPhone 14 Pro and iPhone Pro Max smartphones this year, as the US tech giant said on its website yesterday that it expect 3 million less in iPhone 14 Pro and iPhone 14 Pro Max shipments than previously anticipated mainly due to weaker demand. This came as Apple’s primary iPhone 14 assembly facility is currently operating at significantly reduced capacity due to a Covid flare-up.

  iPhone14产量目标削减300万：7日消息，知情人士透露，苹果公司预计今年iPhone14手机的产量将比最初预期的至少减少300万部，该公司及其供应商现在的生产目标是8700万台或更少，此前的目标是9000万台。减产的主因是对iPhone14及iPhone14 Plus机型的需求疲软。

• China’s largest gold producer Zijin Mining Group plans to buy a 20 percent stake in its peer Zhaojin Mining Industry for about HKD4.4 billion. Zijin Mining will acquire 654 million shares in Zhaojin Mining for HKD6.72 apiece and become its second largest shareholder,  Zijin announced yesterday. 

  紫金矿业44亿港元收购招金矿业20%股权：紫金矿业11月6日发布公告，公司下属全资子公司金山香港或其指定的全资子公司拟通过大宗交易方式收购豫园股份持有的招金矿业6.54亿股无限售条件流通H股股份（占标的公司总股本的20％），本次交易价格为6.72港元/H股，本次股份转让价款合计为43.95亿港元。今天紫金矿业A、H股均大涨约10%，招金矿业港股涨9.6%。

Switching gears to financial news

金融市场消息

• China's securities regulator pledged to further push institutional opening-up of the capital market, with efforts to lure more international financial institutions and talent to the Chinese capital market while facilitating overseas listings of Chinese companies, said Fang Xinghai, vice chairman of the China Securities Regulatory Commission (CSRC) on Saturday at the fifth Hongqiao International Economic Forum. Fang said that regulators will improve market connectivity programs such as global depositary receipts and Chinese depositary receipts issuance, adding that the CSRC will include more companies listed in the mainland in the Stock Connect, which connects the Hong Kong, Shanghai and Shenzhen stock exchanges.

  继续坚定不移推动资本市场高水平开放：11月5日，证监会副主席方星海在第五届虹桥国际经济论坛“中国资本市场高质量对外开放”分论坛上致辞时表示，继续坚定不移推动资本市场高水平开放。方星海表示，中国证监会将坚持市场化、法治化、国际化方向，全面深化改革，健全资本市场功能，更好服务高质量发展，不断增强境内外投资者的信心。进一步完善资本市场对外开放的制度框架，加快落实各项开放举措，吸引和集聚更多优秀国际机构和人才参与我国资本市场。坚持推进资本市场高水平制度型对外开放，进一步便利境内外投资者跨境投资，更好支持企业跨境融资发展。健全GDR、CDR发行等市场互联互通机制，支持各类企业依法依规赴境外上市。加强内地与香港资本市场务实合作，实现两地优势互补、协同发展。

• China's foreign exchange reserves rose unexpectedly in October, data from State Administration of Foreign Exchange (SAFE) showed on Monday, as the dollar fell against other major currencies. The country's forex reserves rose $23.47 billion to $3.052 trillion last month.

  10月末外汇储备3.0524万亿美元：据国家外汇管理局11月7日消息，截至2022年10月末，我国外汇储备规模为30524亿美元，较9月末上升235亿美元，升幅为0.77%。

• China saw its current account surplus rise in the first three quarters to the highest on record, while direct investment booked net inflows, according to the SAFE on Friday. In the first three quarters of the year, the country's current account surplus hit $310.4 billion, an increase of 56 percent from the year before and the highest on record for the period.

  前三季度经常账户顺差创新高：国家外汇管理局4日公布2022年三季度及前三季度我国国际收支平衡表（初步数）。2022年前三季度，我国国际收支保持基本平衡。其中，经常账户顺差3104亿美元，为历史同期最高值，同比增长56%，顺差规模与同期国内生产总值（GDP）之比为2.4%，继续处于合理均衡区间；直接投资呈现净流入，跨境资金流动平稳有序。

Wrapping up with a quick look at the stock market

股市收盘情况

• Chinese stocks closed higher on Monday, with the benchmark Shanghai Composite up 0.23 percent and Shenzhen Component added 0.18 percent, as gains in tech and property shares boosted confidence. In Hong Kong, the Hang Seng Index rose 2.7 percent on last week's strong rallies, while a gauge of Chinese tech stocks in Hong Kong jumped 4.1 percent. 

  A股震荡上升港股继续走高：周一A股三大指数全天震荡，截至收盘，沪指涨0.23%，深成指涨0.18%，创业板指涨0.14%，沪深两市全天成交额10062亿元。 港股震荡走高，恒生指数涨2.69％，恒生科技指数涨4.06％。大型科技股普涨，商汤涨超35%，内房股走强。

Biz Word of the Day

财经词汇划重点

• A Chinese Depositary Receipt (CDR) is a type of depositary receipt (DR) that is traded on a Chinese stock exchange. In other words, it refers to shares in non-Chinese companies that trade in China the same way that American depositary receipts (ADRs) allow non-U.S. company shares to trade on American exchanges.

  中国存托凭证，是指由存托人签发、以境外证券为基础在中国境内发行、代表境外基础证券权益的证券。一般来说，在境外(包含中国香港)上市公司将部分已发行上市的股票托管在当地保管银行，并由中国境内的存托银行发行、在境内A股市场上市、以人民币交易结算、供国内投资者买卖的投资凭证，从而实现股票的异地买卖。

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

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