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
Guangdong sees GDP up 4% in Q1 amid investment and trade recovery;
China introduces policies to stabilize foreign trade.
Here’s what you need to know about China in the past 24 hours
中国经济要闻
Economic growth in South China’s Guangdong Province went up 4 percent in the first three months of 2023, putting the economic power house on track to a good start and a fast economic recovery this year.
Guangdong achieved a regional GDP of 3.02 trillion yuan ($437.65 billion) in the first quarter, up 4 percent from a year ago, which contributed over 10 percent to total national GDP, according to the provincial statistics bureau on Sunday.
Major economic indicators stabilized and rebounded, with a rapid rebound in fixed investment and industrial output.
Fixed asset investment accelerated by 7.4 percent in the first quarter, in which investment in high-tech manufacturing increased by 35.1 percent and that in advanced manufacturing by 30.5 percent.
Added value of advanced manufacturing in the province increased by 1.1 percent year on year, accounting for 55 percent of the total industrial output. Among them, new energy equipment increased by 21.8 percent, intelligent manufacturing equipment by 9.5 percent, and green household appliances by 7.5 percent.
On top of the 16-million plus market entities registered in Guangdong by the end of 2022, the province added another 711,300 in the latest quarter, which is the fastest growth in the past five years, showing stronger market confidence.
Total retail sales of consumer goods in Guangdong reached 1.18 trillion yuan, up 5.1 percent than the same period last year and 3.3 points higher than that in January-February. Sales in catering logged a 31.4 percent jump.
Residents continue to see income increasing, with per capita disposable income reaching 13,867 yuan in the quarter, up 2.4 percent in real term, while consumer inflation was mild at 1.4 percent.
The economic data came in after the province saw a solid foreign trade recovery in the first quarter. Guangdong saw its foreign trade total 1.84 trillion yuan in the first quarter, local customs authorities said on Tuesday. In March, its foreign trade grew 25.7 percent year-on-year.
4月23日，广东“全力拼经济”交出的首季“成绩单”。
据广东省统计局发布的一季度经济运行数据，一季度，广东实现地区生产总值 30178.23亿元，同比增长4.0%。其中，第一产业增加值1039.06 亿元，增长4.1%；第二产业增加值11141.35亿元，增长2.4%;第三产业增加值17997.83亿元，增长5.0%。一季度广东地区生产总值突破3万亿元，在国内生产总值中占比超过1/10。
“今年一季度广东GDP4%的增速快于去年同期和去年全年，且主要指标均有明显增长，特别是3月份出现了超预期的增长。”广东省统计局局长杨新洪表示。此外，按月来看，广东经济逐月向好、稳步回升的趋势明显。
今年以来，广东吹响“制造业当家”奋进号角并推出一系列举措，这在数据上有了直观体现：一季度，广东固定资产投资同比增长7.4%，增速比1-2月加快2.7个百分点，比上年全年回升10个百分点。
与此同时，新旧动能加速转换，推动广东从制造业大省向制造业强省迈进。一季度，广东高技术制造业投资增长35.1%，先进制造业投资增长30.5%；全省先进制造业增加值同比增长1.1%，占全省规上工业增加值比重55.0%。
先进制造业增加值的增长，为广东经济带来了发展的新引擎。一季度，广东先进制造业增加值同比增长1.1%，占全省规模以上工业增加值比重55.0%；其中，新能源装备增长21.8%，智能制造装备增长9.5%，智能节能型家电增长7.5%。
在2022年广东市场主体总量突破1600万户的基础上，今年一季度广东新登记市场主体71.13万户，新登记数为近5年同期最高，印证了市场对广东的信心。
外贸进出口的活跃，凸显了广东在全国外贸大局中“顶梁柱”“压舱石”的作用。一季度，广东货物进出口总额1.84万亿元，再创历史同期新高，规模继续稳居全国第一。这其中，高技术、高附加值、引领绿色转型的产品已成为拉动广东外贸出口增长的新动力。
消费市场增势良好。一季度，广东社会消费品零售总额1.18万亿元，同比增长5.1%，增速比1-2月提高3.3个百分点。按消费形态分，餐饮收入增长最快，达到了31.4%。
温和的物价条件为消费创造了良好的氛围，一季度，广东居民消费价格指数(CPI)同比上涨1.4%，涨幅比1-2 月回落0.3个百分点。一季度，广东工业生产者出厂价格指数（PPI）下降 0.1%。
从民生保障来看，一季度广东居民收入保持增长态势， 广东居民人均可支配收入13867元，同比增长3.8%；扣除价格因素，实际增长2.4%。
China will introduce a series of policies to stabilize the scale of its foreign trade and improve its structure amid uncertain external demand, trade risks and other challenges, said the Ministry of Commerce on Sunday.
Vice Commerce Minister Wang Shouwen said China will extensively resume domestic offline exhibitions and promote the resumption of international passenger flights. It will issue country-specific trade guidelines, help automakers establish and improve their international marketing and service systems, accelerate the revision of the catalog of encouraged technologies and products for import, and improve foreign trade financing services for medium, small and micro enterprises.
To improve foreign trade structure, China will guide the transfer of processing trade to the central, western and northeastern regions, and supporting the Greater Bay Area in developing digital trade. The ministry will formulate green and low-carbon standards for some foreign trade products, guide enterprises to make good use of cross-border e-commerce retail export related tax policies, and improve the efficiency of customs clearance, said Wang.
稳外贸举措集中上新：4月23日，国务院新闻办召开国务院政策例行吹风会，会上，商务部国际贸易谈判代表兼副部长王受文介绍，一季度，我国外贸进出口实现了4.8%的增长，实现了“开门稳”。但是，我国的外贸形势依然复杂严峻，面临不少困难和挑战。从外部环境看，外需的不确定性仍然是最大制约因素。
王受文说，4月7日，国务院常务会议研究了推动外贸稳规模优结构政策措施，分为两大方面，一是稳规模，二是优结构。在稳规模方面，一是努力创造贸易机会。包括在国内广泛恢复线下展，提高APEC商务旅行卡办理效率，推进国际客运航班稳妥有序恢复等。二是稳定重点产品贸易。包括帮助汽车企业建立和完善国际营销服务体系，保障大型成套设备项目合理资金需求，加快修订鼓励进口技术和产品目录。三是稳定外贸企业。包括研究设立服务贸易创新发展引导基金二期，鼓励银行和保险机构扩大保单融资增信合作，积极满足中小微企业对外贸融资的需求，加快拓展产业链承保等一系列具体措施。
在优结构方面，一是优化贸易方式。商务部提出要引导加工贸易向中西部、东北地区进行梯度转移；还将修订边境互市贸易管理办法，支持粤港澳大湾区开展全球贸易数字化领航区发展；指导相关商会协会来适应绿色环保要求，制定一些外贸产品绿色低碳标准，指导企业用好跨境电商零售出口相关税收政策等。二是优化外贸发展环境。商务部提出了发挥好预警体系和法律服务机制作用，深入推进“单一窗口”建设，进一步便利出口退税办理，提升口岸通关效率，高质量实施已经生效的自由贸易协定，还将编发重点行业应用指南。
Greater Bay Area, Greater future
新使命，大未来
Cooperation between Hong Kong and Guangdong will produce mutual gains in the development of the Greater Bay Area, Hong Kong Chief Executive John Lee Ka-chiu said on Sunday, pointing to the city’s strengths in basic research and as a regional aviation hub, and the mainland province’s mature production chains. Lee’s comments came as he wrapped up his visit to the cities of Dongguan and Foshan on the third of his four-day bay area tour with his large delegation of officials and lawmakers. Lee signaled the city is ready to seek stronger links with technology manufacturers in the province, as the SAR is likely to enter projects with tech giants including BYD and Huawei following the visit. The HK delegation first went to Shenzhen and then split into two groups to make separate stops in Dongguan and Foshan over the weekend. They are scheduled to end their trip together in Guangzhou on Monday.
李家超率团访问广东四市：4月21日下午，香港特区行政长官李家超率领香港特区政府及立法会大湾区访问团前往深圳、东莞、佛山和广州访问，为期4天。访问团成员包括政务司司长及4位局长，以及83位立法会议员。4月22日，访问团到访深圳，依次来到比亚迪集团、腾讯总部和前海深港青年梦工场，了解新能源汽车技术发展，科技创新和香港青年在内地创业、就业等发展情况。4月23日，访问团分别访问东莞、佛山，包括华为、博智林机器人、库卡机器人等企业，以及东莞-香港国际机场物流园。李家超接受采访时表示，两座城市的创新科技、高端制造业发展让他收获颇丰，香港与粤港澳大湾区内地城市优势互补、合作共赢的空间巨大。他表示，香港完成上游研发，在中游和下游的转化、生产、推广等方面可以跟大湾区内地城市一起合作。24日访粤最后一站，李家超率团参观广州沥滘净水厂。
The second phase of the Canton Fair has opened, after a successful phase one. Running from April 23 to 27, the second phase will feature daily consumer goods, home decorations and a variety of other items. It's also the first time that the second phase is allowing foreign companies to showcase their products. More than 24,000 offline booths are dotting the 18 exhibition areas, in addition to over 1.35 million products which are put on display online, during the second phase.
广交会第二期开展：23日，第133届广交会第二期正式开展。展览题材以日用消费品、礼品、家居装饰品为主，设18个展区。整个广交会变身为一个“大卖场”，为全球客商带来了更多生活化的消费类产品。 本期广交会线下展参展规模再创历史新高，展览面积达50.5万平方米，展位数量超2.4万个，与疫情前相比，增幅超20％。来自全球220多个国家和地区的数万名客商齐聚。
Moving on to regional highlights
区域观察
Suzhou, a city in China’s Jiangsu province, will expand its initiative of paying salaries to officials in digital yuan to more areas under its administration. State employees in Changshu will receive their salaries in digital yuan from May, as China’s central bank digital currency makes inroads in daily use. Changshu is not the first Chinese city to issue digital yuan salaries. As early as June 2022, Taicang, another county-level city under Suzhou, started to pay public institution employees’ wages in digital yuan for the first time in the country, according to a local government report.
苏州多地公职人员将用数字人民币发工资：苏州多地推进机关事业单位国企等工资全额数字人民币发放。其中，常熟市将于5月起对在编公务员、事业人员、各级国资单位人员实行工资全额数字人民币发放，而太仓市、相城区则已实行一段时间。
Next on industry and company news
产业及公司新闻
China's railway and aviation authorities vowed to increase passenger transport capacity in order to ensure the normal operation of the nation's transport network during the May Day holidays starting from April 29 to May 3. The national railway operator China State Railway Group Co (China Railway) said on Saturday that they planned to add over 1,500 trains during April 27 to May 4 and the national daily operation number will reach about 10,500 during the holidays. As of Saturday afternoon, China Railway's online ticket booking platform has pre-sold 46.57 million train tickets for the holidays. According to data from the Civil Aviation Administration of China (CAAC), flight ticket booking volume during the May Day holidays has already crossed 6 million. CAAC predicted that China's aviation sector will transport about 9 million passengers nationwide during the holidays. For the domestic market, multiple airline companies will operate a combined 65,000 flights equal to about 12 million seats, which surpassed the transport capacity supply in the same period in 2019. In addition, Chinese and foreign airline companies are estimated to operate 3,500 international flights.
“五一”铁路、民航将加大运力：针对“五一”小长假运输期间火车票预售情况，铁路部门采取多种措施，进一步加大运力投放，努力满足旅客出行需求。4月27日至5月4日假日运输期间，全国铁路安排日均开行旅客列车将达到10500余列，增开旅客列车1500多列。国铁集团客运部负责人介绍，今年“五一”小长假是春节后的第一个较长假期，旅客出行需求旺盛，呈现假期首尾长途客流多、中间短途客流多、出行时段高度集中等特点。从铁路12306预售情况来看，截至4月22日14时，铁路部门已经售出“五一”小长假运输期间火车票4657万张。民航方面，从机票预订数据看，今年“五一”假期订票已超600万人次，旅客出行需求提前释放，市场热度基本恢复至2019年同期水平。预计“五一”假期民航将运输旅客约900万人次。民航局表示，“五一”假期，民航运力充足，航空公司通过加大热门航线运力投放等方式，充分满足旅客假期出行需求。其中，国际方面，中外航空公司预计执行3500班国际客运航班，恢复至2019年同期的30%；国内方面，预计国内客运航班将达到6.5万班，可提供1200余万个座位，运力供给超过2019年同期。
China's installed clean energy capacity registered robust growth in the first three months of the year, data from the National Energy Administration showed on Sunday. By the end of March, the installed capacity of wind power surged 11.7 percent year on year to approximately 380 million kilowatts, while that of solar power stood at about 430 million kilowatts, representing a yearly increase of 33.7 percent. The country's installed power generation capacity totaled about 2.62 billion kilowatts, rising 9.1 percent year on year. In the first three months of 2023, the total investment of China's major power companies in solar energy nearly doubled from the previous year to 52.2 billion yuan, the data showed.
3月底全国发电装机同比增9%：国家能源局23日发布1-3月份全国电力工业统计数据。截至3月底，全国累计发电装机容量约26.2亿千瓦，同比增长9.1%。其中，风电装机容量约3.8亿千瓦，同比增长11.7%；太阳能发电装机容量约4.3亿千瓦，同比增长33.7%。1-3月，全国主要发电企业电源工程完成投资1264亿元，同比增55.2%。其中，太阳能发电522亿元，同比增长177.6%；核电161亿元，同比增长53.5%。
The share prices of 60 percent of the Chinese central government and state-owned enterprises listed on the Shanghai stock exchange have advanced this year, and 40 percent of them outperformed the bourse’s index. These stocks had climbed 7.8 percent on average this year as of yesterday, 0.9 percentage point higher than the SSE Composite Index. Seven companies saw their stock prices more than double, with China Science Publishing and Media tripling. The country’s Big Three telecom operators have seen an average increase of 43.7 percent in their stock price so far this year, while stocks of the three oil giants have soared 38.9 percent on average.
“中特估”年内涨幅达7.8%：年初至今，央国企上演了一轮估值修复行情。Wind数据显示，2023年以来，沪市央国企股价平均累计涨幅达7.76%，其中约四成跑赢大盘，股价较大盘平均累计上涨约0.9个百分点，中国科传、上海电影、中科曙光等7家沪市央国企股价涨幅超过100%，27家股价涨幅超过50%。其中，央企表现更为显著，260余家央企年初至今股票平均累计上涨13.72%，其中超半数跑赢大盘，股价较大盘平均累计上涨6.85个百分点。从行业看，三大运营商股价年初至今股价平均累计涨幅达43.72%，其中中国移动于4月17日盘中市值触及2.2万亿元。“三桶油”中国石油、中国石化、中国海油年初至今股价累计平均涨幅达38.96%。
Switching gears to financial news
金融市场消息
The China Securities Regulatory Commission (CSRC) announced Sunday it approved the registration of 34 corporate bond projects, the first of its kind. The projects were handed over by the National Development and Reform Commission, mulling to raise funds totaling 54.2 billion yuan, which would be used to support infrastructure, housing, ecological protection, etc.
证监会核发首批企业债注册批文：4月23日，证监会对国家发展改革委移交的34个企业债券项目依法履行了注册程序，同意核发注册批文。首批企业债券发行拟募集资金合计542亿元，主要投向交通运输、产业园区、新型城镇化、安置房建设、农村产业融合发展、5G智慧城市和生态环境综合治理等产业领域。
Energy trading between China and Russia has been settled in both the yuan and the ruble, Russian Deputy Prime Minister Alexander Novak said in interview with Russian media over the weekend, according to China's state broadcaster CCTV. Trades using the yuan, the ruble and the Turkish lira are increasing and becoming common, while deals using the US dollar or the euro are trending down, Novak said.
俄能源交易将弃用美元和欧元：据央视新闻报道，俄罗斯副总理诺瓦克当地时间4月22日表示，减少使用美元和欧元已成为新趋势。未来俄罗斯与其他国家在能源交易时打算放弃用美元和欧元，而是选择相关国家的货币。诺瓦克还说，目前俄罗斯和中国的能源交易已经使用人民币和卢布结算。使用人民币、土耳其里拉和俄罗斯卢布的交易正在增加，在市场上已经很常见。
Wrapping up with a quick look at the stock market
股市收盘情况
Chinese stocks fell on Monday with the benchmark Shanghai Composite down 0.8 percent and the Shenzhen Component dropped 1.2 percent. Hong Kong’s Hang Seng index slid 0.6 percent to end below 20,000 points, and the TECH index edged down 0.2 percent.
A股震荡走低、恒指失守两万点：周一A股大盘全天震荡走低延续跌势，沪指失守3300点，创业板指领跌。截至收盘，沪指跌0.78%，深成指跌1.17%，创业板指跌1.71%。沪深两市全天成交额合计10833亿元，连续第15个交易日突破1万亿元，北向资金全天净卖出38.28亿元。港股走低，恒指收跌0.58%，失守两万点大关，恒生科技指数收跌0.22%，连跌五日。
Biz Word of the Day
财经词汇划重点
A corporate bond is a type of debt security that is issued by a firm and sold to investors. The company gets the capital it needs and in return the investor is paid a pre-established number of interest payments at either a fixed or variable interest rate.
企业债券是企业依照法定程序发行，约定在一定期限内还本付息的债券。公司债券的发行主体是股份公司，但也可以是非股份公司的企业发行债券，所以，一般归类时，公司债券和企业发行的债券合在一起，可直接成为公司（企业）债券。
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
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