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
Forex reserves came down in August as dollar index surges;
China's rare earth export price hits record high last month as global supplies tighten.
Here’s what you need to know about China in the past 24 hours
中国经济要闻
China's foreign exchange reserves totalled US$3.0549 trillion US dollars at the end of August, down US$49.2 billion from July, data from the State Administration of Foreign Exchange showed Wednesday.
In August, cross-border capital movements were orderly and domestic forex supply and demand remained basically balanced, Wang Chunying, SAFE’s deputy administrator said.
In the international financial market, affected by expectations for some major countries' monetary policies and other factors, the US Dollar Index has surged, while the prices of the other currencies and financial assets plunged in value.
Due to the combined effect of exchange rate conversions and changes in the asset prices, the scale of the foreign exchange reserves, in terms of dollars, decreased, Wang explained.
The yuan fell 2.2 percent against the dollar in August, while the dollar rose 2.7 percent against a basket of other major currencies, according to media calculation. On Wednesday, the yuan further softened to around 6.99 per dollar.
To improve financial institutions' ability to use foreign exchange funds and better maintain the yuan's stability, China's central bank said on Monday it would cut the amount of foreign exchange reserves that financial institutions must hold in the bank.
Deeming the external situation complex and grim at present, Wang said the global financial market registers strong fluctuations amid increasing pressure on the global economy.
China has kept its economy operating in an appropriate range by effectively coordinating epidemic prevention and control with economic and social development, while implementing a raft of policies on stabilising the economy. This helps keep its forex reserves generally stable, Wang added.
国家外汇管理局9月7日公布的最新数据显示，截至2022年8月末，中国外汇储备规模为30548.81亿美元，较上个月下降491.9亿美元，降幅为1.58%。
在人民币对美元汇率连续走低并逼近破“7”的背景下，市场对外汇形势格外关注。
对于外储走低的原因，国家外汇管理局副局长、新闻发言人王春英在答记者问中解释称，2022年8月，跨境资金流动理性有序，境内外汇供求保持基本平衡。国际金融市场上，受主要国家货币政策预期、宏观经济数据等因素影响，美元指数上涨，全球金融资产价格总体下跌。汇率折算和资产价格变化等因素综合作用，当月外汇储备规模下降。
8月，美元指数走高，人民币对美元大幅走低。其中，人民币对美元即期汇率8月累计下跌1515个基点，贬值幅度超过2.2%，人民币对美元中间价累计贬值1469个基点，幅度超过2.17%，均创下2年新低。
进入9月，人民币对美元汇率在在岸和离岸市场继续走低，9月7日人民币对美元即期汇率和离岸人民币对美元汇率分别跌破6.98和6.99关口。
为稳定汇率预期，央行9月5日宣布，自2022年9月15日起，下调金融机构外汇存款准备金率2个百分点，即外汇存款准备金率由现行8%下调至6%。
展望未来，王春英表示，当前外部环境更趋复杂严峻，全球经济下行压力加大，国际金融市场剧烈波动。但我国高效统筹疫情防控和经济社会发展，深入实施稳经济一揽子政策，保持经济运行在合理区间，有利于外汇储备规模保持总体稳定。
Update on Covid-19
疫情简报
Starting from Saturday until the end of October, passengers travelling long-distance on public transportation, including planes, trains, cross-provincial buses and ships, should provide negative results of nucleic acid test taken within 48 hours, according to a State Council announcement on Thursday.
10日起乘飞机高铁等需出示48小时核酸：9日消息，根据国务院联防联控机制有关部署，9月10日至10月31日，乘坐飞机、高铁、列车、跨省长途客运、跨省客运船舶等交通工具需查验48小时内核酸检测阴性证明，建议广大乘客提前做好相关准备，确保出行顺畅。
Moving on to regional highlights
区域观察
The death toll from a magnitude 6.8 earthquake that hit Luding county in Sichuan province on Monday has risen by Thursday morning to 82, with another 35 still missing and over 270 injured. China has allocated 20 million yuan in funds to assist with disaster relief and reconstruction efforts, said the Organization Department of CCCPC on Wednesday.
泸定地震死亡人数升至82人：据四川甘孜州和雅安市相关部门8日消息，截至9月8日8时，四川泸定6.8级地震已造成82人遇难，其中甘孜州46人遇难、雅安市36人遇难。地震还造成35人失联、270余人受伤。7日消息，近日中央组织部从代中央管理的党费中向四川省下拨2000万元，用于支持抗震救灾和灾后重建工作。
Sichuan plans to boost the duty-free market and build Chengdu into a pilot city with a number of duty-free shops set up in town and offshore pick-up points, according to its provincial commerce department on Thursday. By 2027, the province’s consumer market will exceed 4 trillion yuan, with imports, exports and consumer services trade expanding and consumption from the outside growing steadily, according to the draft.
四川加快发展免税经济：9月8日，四川省商务厅发布《关于加快培育“四川消费”品牌推进国际消费目的地建设的意见（征求意见稿）》，意见指出，加快发展免税经济，拓展离境退税和免税业务，支持成都创建市内免税店试点城市，布局设立一批市内免税店、口岸免税店、离境提货点。到2027年，全省消费市场规模突破4万亿元，消费品进出口和消费类服务贸易规模不断扩大，外来消费占比稳步提升，更好发挥消费对经济增长的基础性作用。
Next on industry and company news
产业及公司新闻
China's rare earth export price hit a record high in August, jumping to $26 per kilogram, up 93.8 percent year-on-year, data from the General Administration of Customs showed Wednesday. In August, China's rare earth export volume was 3,673.6 tons, down by 6.7 percent year-on-year, following a decrease of 8 percent in July.
8月稀土出口均价创新高：海关总署2022年9月7日数据显示，2022年8月中国出口稀土3673.6吨，同比下降6.7%；出口均价暴涨至26美元/千克，涨幅达93.8%，创出口月度均价新纪录。
The world's three largest liquefied natural gas storage tanks currently under construction by China National Offshore Oil Corp, each with a capacity of 270,000 cubic meters, finished dome lifting operations in East China's Jiangsu province, according to its operator on Wednesday.
中海油三座全球最大LNG储罐升顶：据中国海洋石油集团有限公司7日消息，中国海油盐城“绿能港”3座单罐容量27万立方米LNG（液化天然气）储罐同步升顶，表明我国超大型LNG储罐设计建造技术和项目管理达到世界先进水平。
Apple on Wednesday debuted its much anticipated iPhone 14 series, with the Pro and Pro Max powered by A16 Bionic, which feature the 48MP camera, Always-On display, Crash Detection, Emergency SOS via satellite, and new way to receive notifications and activities with Dynamic Island. Priced from 5999 yuan, the iPhone 14 standard and Pro versions will be available at stores starting next Friday.
iPhone14起步价5999元：北京时间9月8日凌晨，苹果公司发布了支iPhone14系列智能手机和新系列智能手表等新品。新款iPhone配置卫星通信功能，而Pro系列则将刘海屏设计改为了长条形药丸形态的“灵动岛”，将软硬件和系统三者结合，并搭载台积电4纳米制程芯片。四款机型iPhone14、iPhone14 Plus、iPhone14 Pro/Pro Max的国内起售价分别为5999元、6999元、7999元及8999元。
French gaming giant Ubisoft Entertainment announced on Tuesday that Tencent Holdings has acquired 49.9 percent of the equity held by Ubisoft’s biggest shareholder, Guillemot Brothers, for 300 million euros, and in this way has increased its stake in the French gaming firm to 9.99 percent. Ubisoft also gave Tencent 5 percent voting rights in Guillemot Brothers. The deal will allow Tencent to introduce several of Ubisoft’s top computer games such as Assassin’s Creed into the Chinese market.
腾讯加码投资法国游戏商：9月6日，法国老牌游戏商育碧（Ubisoft）发表声明称，腾讯现以3亿欧元收购其最大股东Guillemot Brothers多达49.9%的股份，获得5%的投票权。此次投资后，腾讯在育碧的持股比例增加至9.99%。育碧是全球规模最大的游戏公司之一，在世界多个地区都有分部，旗下拥有众多产品，《刺客信条》是其最具代表性的IP之一。
Zhejiang Weiming Environment Protection is joining forces with GEM, one of China’s biggest suppliers of battery raw materials, and investment firm Merit International Capital, to build a laterite nickel smelting factory in Indonesia with a total investment of $448 million, said Weiming on Tuesday. Weiming will hold a 51 percent stake of the joint venture.
伟明环保投建印尼高冰镍项目：伟明环保6日公告，公司下属全资子公司伟明（香港）国际控股有限公司与Merit公司、格林美香港就投资建设高冰镍项目签署《关于Merit、格林美香港与伟明之年产高冰镍含镍金属5万吨（印尼）项目合资协议》，项目总投资不超过4.48亿美元。其中伟明持股比例为51%，格林美香港持股比例为23%，Merit持股比例为26%。
Switching gears to financial news
金融市场消息
China’s trust assets totalled 21.11 trillion yuan as of the end of June, up 2.28 percent year on year, said a report released by China Trustee Association (CTA) on Thursday. Amid the economic downturn, operating revenue of the trust sector in the first half came in at 47.34 billion yuan, down 21.4 percent year on year, while total profits dropped 29.2 percent to 28.02 billion yuan.
信托业二季度营利明显下滑：9月8日，中国信托业协会官网披露的《2022年二季度中国信托业发展评析》显示，截至今年6月末，行业信托资产规模为21.11万亿元，同比增速2.28%，环比增速4.70%。今年上半年，信托业共实现经营收入473.46亿元，同比下降21.39%；利润总额为280.22亿元，同比下降29.21%；实现人均净利润99.7万元，同比下降24.60%。从经营业绩来看，在经济下滑的背景下，2022年以来，信托行业的经营业绩面临下行压力，营业收入、利润总额与人均利润同比均明显下滑。
The threatened delisting of Chinese companies from American exchanges is an opportunity for Hong Kong, and the Hong Kong Stock Exchange (HKEX) will consider speeding up reviews for their listing on the city’s bourse, the exchange’s chairwoman Laura Cha Shih May-lung said Wednesday at an event. She added that the HKEX welcomes more listings of Chinese mainland companies, but the exchange won’t lower its standards for companies exiting the US.
港交所考虑加快审批中概股回港上市：香港交易所主席史美伦9月7日出席公开活动时称，中概股从美国退市回流，对香港是机遇，港交所会考虑加快审批速度。她同时强调，港交所欢迎更多公司来香港上市，但也会注重保持香港股票市场的质量，对转而寻求香港上市的中概股公司不会降低上市标准。
Wrapping up with a quick look at the stock market
股市收盘情况
Chinese stocks closed lower on Thursday as shares in the energy and agricultural sectors suffered the most. By the close, the benchmark Shanghai Composite edged down 0.33 percent and the Shenzhen Component fell 0.86 percent. In Hong Kong, the benchmark Hang Seng and the TECH Index both lost 1 percent.
周四A股三大指数集体收跌。截至收盘，上证指数跌0.33%，深证成指跌0.86%，创业板指跌1.86%。板块方面，光热发电、航空旅游、贵金属涨幅居前，燃气、粮食概念板块跌幅居前。港股恒生指数收跌1%，恒生科技指数收跌1%。
Biz Word of the Day
财经词汇划重点
Nickel matte: Nickel requires higher smelting temperatures in order to produce an artificial nickel-iron sulfide known as matte, which contains 25 to 45 percent nickel. The nickel sulfide is cast into anodes for electrolysis or, more commonly, is roasted to nickel oxide and further reduced to metal for refining by electrolysis or by the carbonyl method.
高冰镍是镍精矿经电、转炉初级冶炼而成的镍、铜、钴、铁等金属的硫化物共熔体，用于生产电解镍、氧化镍、镍铁、含镍合金及各种镍盐，特殊处理也可直接用于炼钢。单重1.5至4.0吨；性脆、断面呈明亮的金属光泽。
Executive Editor: Sonia YU
Editor: LI Yanxia
Host: Stephanie LI
Writer: Stephanie LI, HUANG Yuyan
Sound Editor: HUANG Yuyan
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、黄雨嫣
音频制作：黄雨嫣
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
