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 continues to improve people's life in 2023, with priorities on employment and consumption;
Chinese car makers kick off a major promotion war.
China’s Two Sessions 2023
聚焦2023年全国两会
China took concrete steps to improve the people's wellbeing and accelerated the development of social programs over the past five years, according to the government work report on Sunday.
The country kept annual budgetary spending on education at over 4 percent of GDP and realized a significant increase in spending per student, the report said. The retention rate in nine-year compulsory education rose from 93.8 percent to 95.5 percent in China, it added.
Annual per capita government subsidies for basic medical insurance for rural and non-working urban residents increased from 450 yuan to 610 yuan. A greater number of urgently needed medicines were approved for reimbursement under the basic medical insurance scheme, according to the report.
China also increased basic pension benefits for retirees for several years running and raised the minimum basic old-age benefits for rural and non-working urban residents, the report said.
This year, the government has proposed an economic growth target of around 5 percent to ensure steady and quality development, and the growth in personal income should be generally in step with national economic growth this year.
Meanwhile, the country aims to create around 12 million urban jobs in 2023 and target a surveyed urban unemployment rate of around 5.5 percent. China has confidence in creating 12 million new jobs this year, one million more than the target of last year, said Li Chunlin, vice head of China’s National Development and Reform Commission (NDRC), on Monday, as it vowed to step up macro policy supports to give priority to employment.
Annual inflation target is set at around 3 percent in this year’s report, which the country's top economic regulator said it is confident and capable to achieve, given the country’s sufficient supplies of products such as grain, hogs and energy as well as its improved system for stabilizing supplies and prices.
The report also vows to expand domestic demand this year, as priority will be given to the recovery and expansion of consumption, and incomes of urban and rural residents will be boosted through multiple channels.
The country will also improve the housing support system, support people in buying their first homes or improving their housing situation, and help resolve the housing problems of new urban residents and young people.
More quality medical resources will be channeled toward the community level and more evenly distributed among regions, it said, while elderly care services and supporting policies on childbirth will be improved.
今年的政府工作报告，提请审查的计划报告和草案、预算报告和草案，从多个方面部署民生新举措，勾勒出民生发展新图景。
就业、物价和医疗一直是备受关注的民生热词。政府工作报告提出，城镇新增就业1200万人左右。把促进青年特别是高校毕业生就业工作摆在更加突出的位置。预算报告提出，中央财政就业补助资金安排668亿元、增加50亿元，支持各地落实就业创业扶持政策。
而在3月6日上午国新办举行的“权威部门话开局”系列主题新闻发布会上，国家发展改革委副主任李春临表示，“今年新增就业1200万人左右的目标反映了国家对稳就业的信心和决心，随着稳增长、稳就业、稳物价各项政策举措接续发力显效，企业等经营主体恢复发展，带动用工需求扩大、就业岗位增加，就业形势将稳定向好。”
收入方面，政府工作报告提出，居民收入增长与经济增长基本同步。多渠道增加城乡居民收入。稳定大宗消费，推动生活服务消费恢复。计划报告提出，探索多渠道增加中低收入群众要素收入，多渠道增加居民财产性收入，多措并举促进农民增收。持续扩大中等收入群体。预算报告提出，鼓励有条件的地区对绿色智能家电、绿色建材、节能产品等予以适当补贴或贷款贴息。
在物价方面，政府工作报告将全年居民消费价格涨幅定在3%左右，居民收入与经济增长基本同步则是在稳物价方面的目标安排。在3月6日的发布会上李春临介绍，国家发改委将进一步强化监测预测预警，强化重要民生商品保供稳价，强化能源等大宗商品的保供稳价，强化市场监管和预期引导。
病有所医，是基本需求。在医疗方面，医疗领域的举措重点在于“提质”与“均衡”。政府工作报告提出，推动优质医疗资源扩容下沉和区域均衡布局。计划报告提出，增加农村和欠发达地区的医疗资源。建强以公立医疗机构为主体的三级医疗卫生服务网络。预算报告提出，城乡居民基本医疗保险人均财政补助标准提高30元，达到每人每年640元，并同步提高个人缴费标准。基本公共卫生服务经费人均财政补助标准提高5元，达到每人每年89元。
教育方面，政府工作报告提出，推进义务教育优质均衡发展和城乡一体化，大力发展职业教育，推进高等教育创新。计划报告提出，优化区域教育资源配置，强化学前教育、特殊教育普惠发展。统筹职业教育、高等教育、继续教育协同创新。预算报告提出，增加义务教育经费投入。支持学前教育发展资金安排250亿元、增加20亿元。改善普通高中学校办学条件补助资金安排100亿元、增加30亿元。支持地方高校改革发展资金安排404亿元、增加10亿元。
住房方面，政府工作报告提出，加强住房保障体系建设，支持刚性和改善性住房需求，解决好新市民、青年人等住房问题。计划报告提出，因城施策用足用好政策工具箱，实施好差别化住房信贷政策，发挥住房公积金支持作用，支持刚性和改善性住房需求。预算报告提出，支持完善以公租房、保障性租赁住房和共有产权住房为主体的住房保障体系，有效扩大保障性租赁住房供给，探索长租房市场建设。
Moving on to regional highlights
区域观察
Car brands in Hubei province, a major automobile production base in Central China, launched a strong car-promotion season with 58 types of cars of seven car brands under a leading automobile manufacturer headquartered in the province. Consumers purchasing certain car brands under Dongfeng Motor Group can enjoy up to 90,000 yuan in price cuts with subsidies offered by local governments and car enterprises. According to incomplete statistics of Red Star Capital Ventures, at least 30 automobile brands have participated in the price war so far, with the highest discount of more than 100,000 yuan. The aggressive price cut has seen a nationwide spill-over effect, as Northeast China's Jilin Province, for example, said consumers who buy cars under FAW Group's brands in the province can get subsidies of up to 37,000 yuan. Beijing and Shanghai have also announced extensions of subsidies for the purchase of new-energy vehicles.
湖北购车大降价引发蝴蝶效应：东风集团在湖北地区的汽车大降价行动俨然引发蝴蝶效应。据不完全统计显示，已有超过30个汽车品牌参与到这场价格战，甚至有车型优惠超10万元。近日，中国一汽面向吉林省推1.5亿元限时购车补贴，补贴活动自3月1日持续至3月31日，涵盖红旗、解放、奔腾、一汽-大众、一汽奥迪、一汽丰田、捷达等品牌乘用车和轻型货车产品。在吉林省内购买上述品牌汽车的消费者，可依照购车发票价格和能源类型获得分档补贴，补贴金额最低5000元，最高3.7万元。3月6日，湖北政府联合东风汽车推出的购车补贴活动在网络上强势出圈，这个被称为“史上最强购车季”的政企补贴活动覆盖东风雪铁龙、东风标致、东风日产、东风本田、东风风神等多个品牌，综合补贴力度在5000元-9万元不等，其中，政府补贴与厂家补贴各占一半。据不完全统计，从1月开始，包括北京、上海、浙江、河南、山西、吉林、云南、天津、海南、贵州、河北、黑龙江等十余省市相继出台一系列新能源车补贴政策。
Guangzhou has released a development plan which aims to build the Chinese city into an international consumption center by 2025, increasing the number of duty-free and departure tax refund shops to 300 from 76 in 2021. The plan proposes that the capital of Guangdong province should rely on transportation port hubs to further expand the influence of its duty-free consumption, expand the coverage of duty-free goods, and support the entry of Chinese products. The plan also suggests that to enhance its international visibility, Guangzhou should attract domestic and global commercial investors and operators, build an important distribution center for internationally-renowned brands and new product launches, and support global consumer brands to set up concept, flagship, and experience stores in the city.
广州5年基本建成国际消费中心城市：《广州市建设国际消费中心城市发展规划（2022—2025年）》日前正式印发实施，这也是全国首部国际消费中心城市主题规划。《规划》提出，广州要聚焦“国际”、紧扣“消费”、突出“中心”，围绕“产业型”“流量型”“服务型”特征建设国际消费中心城市。建设“一带两区一轴”的世界级消费功能核心承载区，构建“5＋2＋4＋N”广州总体商圈布局体系，各“区”各样协同互补。按照《规划》，广州将用5年左右时间，基本建成“湾区制造”引领、全球资源荟萃，错位互补协同、城乡生态包容，文商旅体融合、岭南文化凸显，自由便利流动、交向互济共进，面向世界的数智化、时尚化、现代化国际消费中心城市。《规划》还提到，到2025年广州免税店和离境退税商店数量要达到300个。
Next on industry and company news
产业及公司新闻
Production and sales of vehicles in China saw a jump in February due to a low base effect as well as waves of promotions across the country, the China Association of Automobile Manufacturers(CAAM) said Friday. Sales in February, 1.98 million units, were 20 percent higher than a month earlier, a low base period when a week-long Lunar New Year holiday reduced business activity, while sales of new energy vehicles surged 56 percent to reach 525,000 units, CAAM data showed.
2月新能源车销量同比涨56%：3月10日，中汽协数据显示，2月，汽车产销分别完成203.2万辆和197.6万辆，环比分别增长27.5%和19.8%，同比分别增长11.9%和13.5%。1-2月，汽车产销分别完成362.6万辆和362.5万辆，同比分别下降14.5%和15.2%。其中，2月，新能源汽车产销分别完成55.2万辆和52.5万辆，同比分别增长48.8%和55.9%。
China's small and medium-sized enterprises (SMEs) experienced a further increase in their activities in February amid a steadily warming economy, industrial data showed Friday. The Small and Medium Enterprises Development Index, calculated based on a survey of 3,000 SMEs from eight major industries, came in at 89.6 last month, up from 88.9 in January and 87.9 in December, the China Association of Small and Medium Enterprises said in a monthly report.
2月中小企业发展指数继续上升：中国中小企业协会10日发布，2月份中小企业发展指数（SMEDI）为89.6，在上月大幅回升的基础上，进一步回升0.7个点，连续两个月上升且上升幅度达到两年来次高，其中，分项指数和分行业指数均全面回升。
Shares in DBG Technology surged by as much as 19.2 percent today after the Chinese electronics manufacturing services provider said it will take over TTM Technologies Shanghai, a manufacturer of the backplates used in communication base stations, for $11.8 million in order to expand its business scope and better meet clients' needs. DBG will purchase a 100 percent stake in TTM Technologies Shanghai from Nasdaq-listed TTM Technologies, one of the world's top five printed-circuit-board makers, the company said today.
光弘科技收购快板电子100%股权：3月10日，电子制造服务商光弘科技公布，拟通过下属全资子公司光弘集团收购快板电子100%股权，快板电子主要从事通讯基站背板/中间板组装、电子机械组装、系统集成等全方位业务。购买价格初步评估为1180万美元。本次收购有利于公司在现有业务基础光弘科技今天盘中一度大涨19%，收涨10.11%。
Earnings reports express
财报速递
Chinese e-commerce company JD reported on Thursday its net revenues grew 10 percent over the previous year to stand at 1.05 trillion yuan in 2022, surpassing 1 trillion yuan for the first time. Net income reached 10.4 billion yuan last year, compared to a net loss of 3.6 billion yuan in 2021, and non-GAAP net income in 2022 was 28.2 billion yuan. The company's research and development expenses amounted to 16.9 billion yuan last year, compared with 16.3 billion yuan in 2021. As of the end of last year, JD Logistics, the company's logistics arm, operated over 1,500 warehouses, covering an aggregate gross floor area of over 30 million square meters.
京东2022年净收入首破万亿：3月9日晚，京东集团发布了2022年第四季度及全年业绩，2022年全年净收入突破一万亿元，达到10462亿元，同比增长9.9%；非美国通用会计准则下归属于普通股股东的净利润达到282亿元，同比增长64%，大幅超出市场预期。研发开支同比增长3.6%至169亿元。截至2022年12月31日，京东集团供应链基础设施资产规模达到1326亿元，同比增幅达到59%。 京东物流运营超过1500个仓库，过去三年新增超过700个仓库，包含京东物流管理的云仓面积在内仓储网络总面积已超过3000万平方米，员工数超55万人。
Shares of Contemporary Amperex Technology rose after the Chinese power battery giant said it nearly doubled its net profit last year, thanks to the booming domestic electric vehicle market. Net profit was 30.7 billion yuan in 2022, an increase of 93 percent from a year earlier, the company said in its earnings report released yesterday. Revenue soared 152 percent to 328.6 billion yuan, with that from the power battery business jumped 159 percent to 236.6 billion yuan last year from 2021, as the sales volume of power battery systems more than doubled to 242 gigawatt-hours.
宁德时代2022年营收破3000亿元：3月9日晚间，宁德时代发布了2022年财报。财报显示，2022年，宁德时代实现营业收入3285.94亿元，同比增长152.07%；归母净利润307.29亿元，同比增长92.89%。成为中国汽车及零部件上市公司中最“赚钱”的公司。财报显示，2022年，宁德时代实现锂离子电池销量 289GWh，同比增长116.6%，其中动力电池系统销量 242GWh，同比增长107.09%。宁德时代拟向全体股东每10股派发现金25.20元（含税），合计派发现金股利61.55亿元。
Switching gears to financial news
金融市场消息
Xiao-I Corporation, a cognitive AI enterprise from China, floated its shares Thursday on Nasdaq. The Shanghai-based Xiao-I raised $38.76 million by issuing 5.7 million American Depository Shares (ADSs) at $6.8 apiece, less than the 6 million shares intended in its preliminary prospectus on Monday.
小i机器人成功登陆纳斯达克：3月9日，成立于上海的本土科技企业，小i机器人正式在美国纳斯达克挂牌上市，发行股票代码为“AIXI”，发行价为6.8美元。小i机器人此次发行570万股，募资总额为3876万美元，较最初的募资规模有所缩水。小i集团创始人、董事长兼CEO袁辉在上市仪式中表示，小i的目标是打造中国版ChatGPT。
Wrapping up with a quick look at the stock market
股市收盘情况
Chinese stocks fell on Friday with the benchmark Shanghai Composite and the Shenzhen Component both down over 1 percent. Hong Kong’s Hang Seng index also shed 3 percent, and the TECH index dropped 3.8 percent.
A股港股收跌：周五A股指数全天走势分化，沪深两指跌逾1%，创业板指坚挺。截至收盘，沪指跌1.40%，深成指跌1.19%，创业板指跌0.10%，两市全天成交额8096亿元，北向资金净卖出53亿元。港股恒指低开低走，收跌3.04%，恒生科技指数跌3.78%。
Biz Word of the Day
财经词汇划重点
The Small and Medium Enterprises Development Index was calculated based on a survey of 3,000 SMEs and the vitality of a country's SMEs is an important indicator reflecting the country's economic development status. The index contains multiple subindexes to gauge the performances and expectations of SMEs. A reading below 100 indicates less than robust vitality.
中小企业发展指数是反映中小企业经济运行状况的综合指数，通过对国民经济八大行业的3000家中小企业进行调查，利用中小企业对本行业运行和企业生产经营状况的判断和预期数据编制而成，是反映中小企业经济运行状况的综合指数。该指数的取值范围为0-200之间，100-200为景气区间，0-100为不景气区间。
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
