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 realizes unified registration of immovable property after 10 years of efforts;
China scraps PCR test reports of inbound air passengers from Saturday to boost travel over the upcoming holiday.
Here’s what you need to know about China in the past 24 hours
中国经济要闻
China has completed a comprehensive, nationally unified real estate registry, Minister of Natural Resources Wang Guanghua announced on Tuesday, marking a major breakthrough in the country's decade-long effort to establish a unified property registration system.
The move could have profound implications for the real estate market as well as the broader Chinese economy, laying a solid foundation for property sector development, as it would offer regulators a full, clear picture of real estate ownership and enable them to make better policy adjustments, analysts said.
Wang made the announcement during a national meeting about the registration of natural resources and immovable properties on Tuesday, which means that after 10 years of hard work, a unified registry covering all sites and all properties has been fully established.
In March 2013, China decided to set up an agency for the unified registration of immovables and to integrate related responsibilities assigned to multiple departments. It proposed to unify registration administration, documents and certificates, as well as the information platforms.
The move marks an important institutional breakthrough in the real estate industry, Yan Yuejin, research director at Shanghai-based E-house China R&D Institute, said.
Yan said that the move is conducive to gaining a deep understanding of the real estate market, as it addresses long-standing issues such as scattered registration information across the country.
Another specific and yet sweeping change that could be brought about by the unified registration system could be the implementation of a property tax, which has been under discussion for many years, though it does not automatically mean such a tax is imminent.
The unified registration of immovable property has much broader goals, and its establishment cannot be simply understood as the collection of a property tax, Yan said.
我国房地产领域取得一项重要进展。
4月25日下午，自然资源部部长王广华在全国自然资源和不动产确权登记工作会议上宣布，我国全面实现不动产统一登记。这意味着经过十年努力，从分散到统一，从城市房屋到农村宅基地，从不动产到自然资源，覆盖所有国土空间、涵盖所有不动产物权的不动产统一登记制度全面建立，对进一步健全归属清晰、责权明确、保护严格、流转顺畅的现代产权制度，进一步夯实社会主义市场经济基础，具有深远意义。
这是一项推进了10年的重大工作。据自然资源部介绍，自2013年3月党中央、国务院决定建立不动产统一登记机构后，2017年底在新中国历史上第一次实现了不动产统一登记，截至目前，全国约3000个大厅、4万个窗口、10万人的登记队伍，每天为40万群众和企业提供各类登记服务，十年来累计颁发不动产权证书7.9亿多本、不动产登记证明3.6亿多份，电子证书证明3.3亿多本。不动产统一登记在保护产权、保障交易和生态安全，以及便民利民等方面的作用愈加凸显。全国所有市县基本实现一般登记和抵押登记5个工作日以内办结，比2015年的30个工作日压缩了83%。
在全面实现不动产统一登记后，全国不动产物权信息实现互联互通，既可以摸清不动产底数，保护不动产权利人合法财产权，又可以统筹安排调控政策，进而提高政府治理效率和水平。
易居研究院分析认为，从房地产角度看，此次不动产统一登记带来了三个重要的影响。第一、部分有瑕疵、有纠纷、无产证的房产项目有了合规标签，具备不动产权利证书后，其后续交易将更加顺畅。第二、潜在的房屋交易规模可能会增加，存量房市场将形成规范、有序、高效的交易模式。第三、有助于购房政策更加合理规范，增加房地产政策的精准度，有助于促进房地产市场平稳健康发展。
而对普通老百姓而言，最大的好处就是可以实现从“多地、多门、多次”办理到“一窗、一网、一次”，甚至“不见面”办成，大大减少时间成本。
对于房地产行业而言，令市场担忧的是不动产统一登记完成后，是否意味着房地产税也会即将开征。
易居研究院研究总监严跃进认为，不动产统一登记后，房地产税等工作开展会更加顺畅和容易，但不能简单理解成这是要为征收房地产税做准备。易居研究院表示，后续即便开征，也会考虑共同富裕总体框架、财税政策改革导向和房地产市场形势变化等内容。
China's State Council on Tuesday announced a set of 18 measures aimed at further stabilizing the country's foreign trade. The guidelines noted that China will push for the comprehensive restoration of offline domestic exhibitions, strengthen its support for foreign trade companies participating in overseas exhibitions, as well as facilitate the resumption of international passenger flights.
The cabinet said China will increase financial support for the trade sector, including better use of central fiscal policy, increased credit and insurance support and optimized cross-border settlement services, according to the notice. Among other measures, Chinese banks and their foreign subsidiaries are encouraged to offer financial support for automakers to explore overseas market.
In terms of expediting the innovative development of foreign trade, the guidelines underline the importance of efforts to support foreign trade enterprises in expanding their sales channels through cross-border e-commerce and other new business modes.
国务院发布稳外贸18条：4月25日，国务院办公厅发布《关于推动外贸稳规模优结构的意见》18条举措，推动外贸稳规模优结构。《意见》提出五方面政策措施，一是强化贸易促进拓展市场，推动国内线下展会全面恢复；尽快推进国际客运航班特别是国内重点航空枢纽的国际客运航班稳妥有序恢复；我驻外使领馆加大对外贸企业特别是中小微外贸企业开拓市场的支持力度。二是稳定和扩大重点产品进出口规模；组织汽车企业与航运企业进行直客对接，引导汽车企业与航运企业签订中长期协议。三是加大财政金融支持力度，研究设立服务贸易创新发展引导基金二期；鼓励政府性融资担保机构为符合条件的小微外贸企业提供融资增信支持；鼓励金融机构创新完善外汇衍生品和跨境人民币业务，进一步扩大跨境贸易人民币结算规模。四是加快对外贸易创新发展。支持大型外贸企业运用新技术自建数字平台，培育服务中小微外贸企业的第三方综合数字化解决方案供应商。支持外贸企业通过跨境电商等新业态新模式拓展销售渠道、培育自主品牌。五是优化外贸发展环境。深入推进“单一窗口”建设，提升口岸通关效率、强化疏导分流、补齐通道短板、提升口岸过货能力等。
As of April 29, all inbound travelers only need a negative antigen test result within 48 hours of flying rather than the previous mandatory PCR tests before boarding flights, said Chinese Foreign Ministry spokesperson Mao Ning on Tuesday, adding that travelers will have to fill in the Health Declaration Form for Inbound and Outbound Travelers after getting their negative tests results. The latest relaxation in pandemic control comes just at the first day of the Labor Day holiday, and online searches for flights to overseas destinations more than quadrupled within an hour of the announcement, data from e-travel agency Fliggy showed.
4月29日起来华航班不再查验核酸：4月25日，外交部发言人毛宁在例行记者会上宣布，为进一步便利中外人员往来，本着科学精准、安全有序的原则，中方将进一步优化远端检测安排。自4月29日起，所有来华人员可以登机前48小时内抗原检测代替核酸检测，航空公司不再查验登机前检测证明。据在线旅游平台“飞猪”数据显示，4月25日新政策宣布1小时内，跨境航班搜索量瞬时增长超4倍。
Moving on to regional highlights
区域观察
Shanghai will extend financial support up to a maximum of 100 million yuan per project to programs of great strategic importance in emerging sectors such as artificial intelligence, integrated circuits and biomedicine. The municipality will subsidize projects in advanced manufacturing that lure a huge amount of investment and have an excellent showcasing effect by up to 100 million yuan or no more than 10 percent of the total investment, the municipal government said Tuesday. The grants will target companies which are the first to break foreign monopolies and are the first home-grown applications in fields such as smart chips, core algorithms, operating systems and basic software.
上海最高奖励1亿元引进重大项目：4月25日消息，《关于新时期强化投资促进加快建设现代化产业体系的政策措施》近日印发。其中提出，聚力招引集成电路、生物医药以及人工智能“三大先导产业”，布局发展智能终端、绿色低碳、数字经济以及元宇宙“四个新赛道产业”。根据《政策措施》，上海将支持引进高端产业项目。围绕制造业高端化、智能化、绿色化发展，对引进承担国家重大战略任务、率先打破国外垄断、国内首次示范应用等重大战略性新兴产业项目，按照规定最高给予项目投资的30%、不超过1亿元的支持；对引进投资规模大、带动作用强、示范效应好的其他先进制造业项目，按照规定给予不超过项目投资的10%、最高1亿元的支持。
Next on industry and company news
产业及公司新闻
China's postal industry posted steady growth in business revenue in the first quarter of the year, official data showed. The sector's combined business revenue totaled 356.21 billion yuan in Q1, up 9 percent year-on-year, according to data from the State Post Bureau. In March alone, the industry's revenues rose 17.5 percent to 129.29 billion yuan. China's courier companies handled 26.89 billion parcels in the first three months, surging 11 percent from a year earlier.
一季度我国邮政行业增速逐月提速：国家邮政局26日通报一季度邮政行业经济运行情况，一季度邮政行业寄递业务量和行业业务收入分别完成341.7亿件和3562.1亿元，同比分别增长8.5%和9%。国家邮政局政策法规司司长曾军山表示，一季度邮政行业增速逐月提速向好，部分指标重回两位数增速，整体呈现企稳回升态势。3月快递业务量超过100亿件，增速重回20%以上。
Alibaba Cloud announced on Wednesday the largest price reduction in history, with prices of core products cut by 15 to 50 percent, and the highest discount for storage products is up to 50 percent. Alibaba Chairman and CEO Daniel Zhang also revealed that Tongyi Qianwen, the tech giant’s version of ChatGPT, has received 200,000 applications of business access. With a market share of 36 percent in China, Alibaba Cloud is the top cloud computing provider in China and one of the top three globally.
阿里云宣布史上最大规模降价：4月26日，阿里云宣布启动史上最大规模降价，核心产品价格全线下调15％-50％，存储产品最高降50%。阿里巴巴董事会主席张勇26日还透露，已有20万企业用户申请接入阿里版ChatGPT“通义千问”测试。2022年，中国前四大云计算厂商为阿里云、华为云、腾讯云、百度智能云，阿里云市场占比为36%。
China Mobile said on Tuesday it will step up development of its cloud computing business after investing nearly 90 billion yuan in cloud infrastructure construction over the past three years. Yang Jie, chairman of China Mobile, said as an important part of the new infrastructure, cloud computing has become an effective driving force for the high-quality development of the digital economy and digital productivity that promotes social progress. Last year, the telecom giant's cloud computing revenue exceeded 50 billion yuan, a 25-fold increase compared to three years prior, according to Yang.
移动云三年实现25倍增长：4月25日，2023移动云大会在苏州召开，中国移动董事长杨杰称，布局建设云基础设施、提供算力服务，是中国移动数智化转型的战略重点。去年，移动云收入达到503亿元，较三年前增长25倍；同期，包含云业务在内的数字化转型收入达2076亿元，同比增幅超30%，成为驱动中国移动收入增长的主要引擎。谈及移动云的现状，杨杰表示，近三年，中国移动累计投资近900亿元，完善数据中心“4+N+31+X”布局，累计投产云服务器71万台，覆盖“东数西算”全部核心枢纽，建成边缘节点超1000个。杨杰还表示，云业务力争年营收突破1500亿元。
Tesla will start to allow other electric vehicle marques to use its EV charging network in China to encourage more people to buy electric cars and to consolidate its dominance in the charging field, the US new energy vehicle maker said Tuesday. Some 10 super-charging stations and 120 normal ones will be made available in the first instance, a company insider said.
特斯拉中国宣布向其它品牌开放充电网络：4月25日，特斯拉中国宣布正式在中国大陆地区面向部分非特斯拉品牌新能源车辆试点开放充电站，进一步推动“充电网络开放试点计划”落地。据悉，首批试点开放的充电站中，包含10座超级充电站、120座目的地充电站，面向37款非特斯拉车型。该计划后续也将在更大范围内覆盖特斯拉充电网络，不断扩大对不同品牌和车型的服务范围。
Earnings reports express
财报速递
Hong Kong’s bourse operator on Wednesday reported a 28 percent increase in first-quarter profit. The profit attributable to Hong Kong Exchanges and Clearing Ltd in the first quarter rose to HK$3.41 billion, according to its earnings results. HKEX said its revenues in the first quarter was up 19 percent to HK$5.56 billion, the second highest on record, mainly due to higher net investment income from margin funds and clearing house funds.
港交所一季度净利创历来次高：4月26日，港交所一季报显示，2023年第一季归属股东净利润为34.08亿元，较2022年第一季上升28%。据公告，港交所一季度收入和其他收益及净利润为历来次高，仅次于2021年第一季的纪录。具体来看，2023年第一季收入及其他收益为55.58亿元，较前一年同期上升19%，较2022年第四季上升7%。主要业务收入较2022年第一季上升5%，反映保证金与结算所基金的投资收益净额增加，但交易及结算费减少以及上市费收入减少已抵销部分升幅。
Shares of a number of Chinese lithium firms sank after reporting a sharp drop in first-quarter profits after lithium salt prices fell. Among the nearly 30 Chinese lithium companies that have released earnings reports for Q1, net profits fell at 18 from a year ago, and some even went into the red. Revenues declined at 12 of the companies. Cathode material producer Changyuan Lico said yesterday that the growth of the new energy vehicle market has slowed and prices of upstream materials have fallen amid intensifying competition, resulting lower gross profit. Its first-quarter revenue was 1.93 billion yuan, down 43 percent from a year earlier, and net profit fell to 929,000 yuan, after halving. Miracle Automation, which recycles lithium batteries, saw its quarterly income down 20 percent and recorded a loss of almost 300 million yuan.
锂电板块超六成公司一季度业绩大降：4月25日，随着多家锂电企业一季报表现普遍不佳，锂电板块10余只概念股跌幅在9%以上。已披露一季报的近30只个股中，18家公司Q1净利润同比下跌，占比约64%，跌幅从46%至435%不等。多家A股上市的锂电池公司Q1净利润同比骤降，如长远锂科一季度净利润92.9万元，同比下降99.69%；天力锂能一季度净利润49.94万元，同比减少99.15%；蔚蓝锂芯一季度亏损1254.96万元；胜华新材一季度净利润预降98%；天奇股份一季度营业收入7.49亿元，同比下降20.66%，亏损2.99亿元，同比盈转亏。进入2023年，由于终端需求不振，锂价掉头直下，据上海钢联发布的数据显示，自2022年11月下旬以来，电池级碳酸锂均价从最高点59.5万元/吨一度跌至17.5万元/吨，最大跌幅超70%。
Switching gears to financial news
金融市场消息
China's vehicle purchase tax exemption for new energy vehicles went up 36 percent year-on-year in the first quarter, amid the country's continuous efforts to promote automobile consumption and advance green development, official data showed. A total of 21.24 billion yuan of tax was waived off in the January-March period, according to the State Taxation Administration on Tuesday.
一季度免征新能源车购置税212.4亿元：4月25日，国家税务总局数据显示，2023年一季度，全国共有125.7万辆新能源汽车享受政策优惠，同比增长17.5%；免征新能源汽车车辆购置税212.4亿元，同比增长36%。
Wrapping up with a quick look at the stock market
股市收盘情况
Chinese stocks ended mixed on Wednesday, with the benchmark Shanghai Composite closing nearly flat, while the Shenzhen Component gained 0.3 percent. Hong Kong’s Hang Seng index rose 0.7 percent and the TECH index jumped 1.3 percent.
A股分化港股走高：周三A股全天震荡分化，创业板指展开反弹，沪指微跌。截至收盘，沪指跌0.02%，深成指涨0.33%，创业板指涨1.54%。沪深两市全天成交额11222亿元，较上一交易日缩窄117亿元。北向资金午后缓慢流出，全天小幅净买入7.51亿元。港股恒指低开高走，恒指收涨0.71%，恒生科技指数收涨1.25%。
Biz Word of the Day
财经词汇划重点
The term margin account refers to a brokerage account in which a trader's broker-dealer lends them cash to purchase stocks or other financial products. The margin account and the securities held within it are used as collateral for the loan.
保证金是指买方或卖方按照交易市场规定标准交纳的资金，专门用于订单交易的结算和履约保证。保证金的是维持交易续存所要求存入的流动资金。
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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