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
Tesla CEO Elon Musk went on first China trip in over three years as foreign CEOs flock to the country;
AI industry scale in Beijing expected to reach 300 billion yuan by 2025.
Here’s what you need to know about China in the past 24 hours
中国经济要闻
Tesla Chief Executive Elon Musk on Tuesday kicked off a high-stakes visit to China, marking his return to the electric carmaker's largest production hub after three years.
Chinese State Councilor and Foreign Minister Qin Gang met Musk in Beijing on Tuesday. Qin said China will continue to steadfastly promote high-level opening-up and is committed to creating a better market-oriented, legal, and international business environment for enterprises from various countries, including Tesla.
The foreign minister also used an elaborate driving metaphor to describe China-U.S. relations, according to a statement from his ministry. "We must step on the brake in time, avoid dangerous driving and be skillful at using the accelerator to promote mutually beneficial cooperation," Qin said.
Musk said Tesla objects to "decoupling" and is willing to further expand business in China, as quoted saying in a statement published by the ministry on Tuesday.
On Wednesday, China’s Minister of Industry and Information Technology (MIIT) Jin Zhuanglong met with Musk in Beijing. The two sides exchanged views on the development of new-energy vehicles (NEVs) and intelligent connected vehicles, according to a MIIT statement.
The agenda of Musk has also become closely watched. A source said on Tuesday that a meeting with Zeng Yuqun, chairman of CATL, the Chinese battery giant and a key Tesla supplier, was also planned in Beijing. The two most likely discussed the supply of energy storage cells to Tesla’s planned Megapack factory in Shanghai, building a battery plant in North America together as well as the supply of batteries to Tesla’s electric cars, media reported.
Musk flew in a private jet to China on Tuesday. The CEO of Tesla, which has the Chinese market contributing nearly 21 percent of its overall revenue in the first quarter of 2023, commissioned the Shanghai Gigafactory with a dance in the rain in Shanghai in 2019. Musk has visited China many times in 2018 and 2019.
Musk’s trip is the latest return by a top U.S. CEO to China. Since China's optimization of epidemic control measures, along with a series of achievements China has made in attracting and stabilizing foreign direct investment (FDI), foreign company executives have formed an endless stream in visiting China to explore market opportunities, be close to customers and to gauge the market situation for themselves.
Apple’s Tim Cook visited in March, while JP Morgan's Jamie Dimon and Starbucks' Laxman Narasimhan are also in China this week.
5月30日，国务委员兼外长秦刚在北京会见特斯拉首席执行官马斯克。
秦刚表示，中国人民正以中国式现代化全面推进中华民族伟大复兴。中国式现代化是人口规模巨大、全体人民共同富裕、人与自然和谐共生的现代化，将创造前所未有的增长潜力和市场需求，中国新能源汽车产业发展前景广阔。中国将继续坚定不移推进高水平对外开放，致力于为包括特斯拉公司在内的各国企业打造更好的市场化、法治化、国际化营商环境。中国的发展是世界的机遇。一个健康、稳定、建设性的中美关系既有利于中美两国，也有利于世界。拿特斯拉汽车来比喻，发展好中美关系，需要把准方向盘，沿着相互尊重、和平共处、合作共赢的正确方向前进；及时“踩刹车”，避免“危险驾驶”；善于“踩油门”，推进互利合作。
马斯克表示，中国人民勤奋、智慧，中国发展成就理所当然。美中利益交融，如同连体婴儿彼此密不可分。特斯拉公司反对“脱钩断链”，愿继续拓展在华业务，共享中国发展机遇。
工业和信息化部网站31日发布消息，工信部部长金壮龙在京会见马斯克，双方就新能源汽车和智能网联汽车发展等交换意见。
据商务部31日消息，商务部部长王文涛会见马斯克。双方就中美经贸合作、特斯拉在华发展等议题进行了广泛、深入的交流。
自从去年底我国优化疫情防控政策以来，外企高管纷沓而至，近期先后有美国福特汽车全球执行副总裁兼首席政务官柯立、沃尔沃汽车总裁兼首席执行官骆文襟、美国通用汽车董事长兼首席执行官玛丽·博拉等人访华并会见我国政府官员，足以证明中国市场的重要性，合作发展是当下的主旋律。
中国市场是特斯拉全球的第二大市场，也是最重要的海外市场。最新财报显示，2022财年，特斯拉总营收为814.62亿美元，同比增加51%。其中，中国市场实现营收181.45亿美元，同比增加31.07%，占比 22.27%。不仅占比不及2021年的26%，从增速上看也落后于整体，在此之前，中国市场的增速已经连续两年超过100%。
30日下午，网络平台也流传出一张马斯克与全球动力电池龙头宁德时代董事长曾毓群会面的照片。据业内人士分析，此次马斯克与曾毓群会面，商谈的内容可能会包括上海储能超级工厂的储能电芯供应、未来在北美合作建电池厂以及动力电池供应的事宜。
China's manufacturing sector shrank further into contraction in May while non-manufacturing activity expanded at a slower pace, data from the National Bureau of Statistics showed on Wednesday. The official purchasing managers index for China's manufacturing sector stood at 48.8 in May, down from 49.2 in April, according to the NBS, below the 50-point mark that separates growth from contraction. The sub-indexes for production and new orders came in at 49.6 and 48.3 in May, respectively, down from 50.2 and 48.8 in April. The non-manufacturing PMI, meanwhile, came in at 54.5 in May, down from 56.4 a month earlier. Zhao Qinghe, a senior NBS statistician, said China's business came under pressure in May, and more efforts should be made to consolidate the foundation for economic recovery.
5月份制造业PMI小幅回落：5月31日，国家统计局数据显示，5月份，制造业采购经理指数（PMI）为48.8%，比上月下降0.4个百分点，低于临界点，制造业景气水平小幅回落。5月份，非制造业商务活动指数为54.5%，比上月下降1.9个百分点，仍高于临界点，非制造业延续恢复性增长。国家统计局服务业调查中心高级统计师赵庆河介绍，5月份，在调查的21个行业中，有11个行业PMI位于扩张区间，行业景气度呈现一定程度分化。具体而言，当月制造业PMI中，生产指数和新订单指数分别为49.6%和48.3%，比上月下降0.6和0.5个百分点，均位于收缩区间，制造业市场需求仍显不足，企业产能释放受到抑制。5月份，非制造业商务活动指数为54.5%，今年以来始终保持在54.0%以上景气区间。其中，服务业商务活动指数连续三个月位于较高景气区间，本月指数虽回调1.3个百分点至53.8%，仍高于上年同期6.7个百分点，服务业继续保持较快恢复态势。而建筑业商务活动指数为58.2%，低于上月5.7个百分点，仍位于较高景气区间，建筑业继续保持较快增长。
Moving on to regional highlights
区域观察
Beijing aims to build a core artificial intelligence (AI) industry with a scale reaching 300 billion yuan by 2025, with continued growth of more than 10 percent year-on-year, according to a plan issued by the Beijing municipal government on Tuesday. The new guideline listed supporting measures such as promoting mechanism innovation, strengthening policy innovation and the scope of financial support as well as more coordinated efforts. According to the plan, the Chinese capital aims to make the scale of AI-radiated industry surpass 1 trillion yuan by 2025. It also will give birth to more start-ups, with about five to 10 unicorns being created by 2025. And in terms of nurturing homegrown products and making new technological breakthroughs, it is expected that the market share of self-developed basic hardware and software products such as AI chips and deep-learning frameworks will see a significant improvement, and computational chips should achieve self-sufficiency by 2025.
北京打造人工智能创新策源地：5月30日，北京市发布《加快建设具有全球影响力的人工智能创新策源地实施方案（2023-2025年）》、《促进通用人工智能创新发展的若干措施》等政策，鼓励和引导人工智能行业发展。《方案》从突破关键技术、夯实底层基础、构建产业方阵、推动场景建设、构建创新生态五大方向，提出16项重点任务。《方案》提出，到2025年，北京市人工智能技术创新与产业发展进入新阶段，努力建成具有全球影响力的人工智能创新策源地的总体目标。同时，布局前沿方向实现技术创新，推动国产替代加强技术攻坚，构建产业方阵促进产业升级，创新场景赋能驱动新应用，营造全新产业生态。围绕上述五个方面，北京市提出“人工智能核心产业规模达到3000亿元，持续保持10%以上增长，辐射产业规模超过1万亿元”等具体目标。与《方案》一同发布的还有《北京市促进通用人工智能创新发展的若干措施》，针对提升算力资源统筹供给能力、提升高质量数据要素供给能力、系统构建大模型等通用人工智能技术体系、推动通用人工智能技术创新场景应用、探索营造包容审慎的监管环境等5个方向，提出了21项具体措施，为人工智能产业的发展做出指引。
China's financial hub Shanghai has introduced measures, including tax incentives and lower funding costs, to bolster private investment. In the first four months of 2023, private investment in Shanghai grew 19.8 percent year on year, according to a local official on Tuesday. Measures include breaking down invisible barriers to guarantee unified market access for private enterprises and encouraging them to participate in major projects in the 14th Five-Year Plan period (2021-2025). Authorities will offer tax incentives for micro, small, and medium-sized enterprises and scientific and technological innovation. Lower land costs would be ensured. They will also help expand funding channels for private enterprises and guide financial institutions to support these projects with lower funding costs.
上海出台“20条”新政支持民间投资：5月30日，上海市发展改革委发布《上海市加大力度支持民间投资发展若干政策措施》，共包括4个方面、20条政策。据介绍，近年来，上海市民间投资占全社会固定资产投资比重基本保持三分之一，“十三五”以来，民间投资年均增速5.5%，高于全国平均增速。上海将鼓励民间资本积极参与国家“十四五”规划102项重大工程的项目及上海“十四五”规划重大项目。民营企业参与重大项目的设计、施工、原材料、设施设备供应等，在招投标中一视同仁。发挥财政预算的刚性约束作用，将政府采购工程面向中小企业的预留份额阶段性提高至40%以上。兼顾好广大中小微企业经济活动的政策需求，落实好国家各项税费优惠政策，确保扶持中小微企业、鼓励科技创新的税收政策实施不打折扣。支持民间投资科技创新、加大三大产业民间投资支持力度、鼓励民间资本投资新型基础设施、强化绿色发展领域民间投资支持、稳定房地产民间投资、促进民间投资参与社会民生服务并鼓励民间投资参与乡村振兴。
Greater Bay Area, Greater future
新使命，大未来
Shenzhen on Wednesday issued an action plan for accelerating the high-quality development and high-level application of artificial Intelligence in the city, proposing to build a city-level intelligent computing power platform as to become a smart computing power hub in the Greater Bay Area. The southern tech hub is aiming to gather intelligent computing power resources from governments, enterprises, scientific research institutions, universities, and strengthen intelligent computing power cooperation with Hong Kong, and plan to jointly build an intelligent computing power coordination and dispatching platform in the Greater Bay Area. Also, the Pengcheng Cloud Brain III project is set to start construction before the end of 2023, per the plan.
深圳将打造大湾区智能算力枢纽：深圳市31日发布《深圳市加快推动人工智能高质量发展高水平应用行动方案（2023—2024年）》。《方案》从强化智能算力集群供给、增强关键核心技术与产品创新能力、提升产业集聚水平、打造全域全时场景应用、强化数据和人才要素共五个方面提出14条措施。《方案》提出建设城市级智能算力平台，鹏城云脑Ⅲ项目2023年年底前启动建设；打造大湾区智能算力枢纽；建设企业级智能算力平台，联合香港企业、科研机构、高校等，打造深港人工智能算力赋能中心。支持科研机构与企业共建5家以上人工智能联合实验室，支持创新产品研发，包括鼓励企业依托河套深港科技创新合作区、前海深港现代服务业合作区或海外研发中心，研发基于国际主流大模型的创新产品。要大力培育企业梯队。支持本地龙头企业加大人工智能投入，推动国内外龙头企业在深设立人工智能子公司，培育一批具有核心竞争力的创新型领军企业，孵化千亿级龙头企业。推动中小企业发展壮大，打造一批专精特新、单项冠军、独角兽人工智能企业。
Next on industry and company news
产业及公司新闻
Some 97 percent of foreign firms in China are satisfied with the country's policies on boosting foreign investment that rolled out from the beginning of the fourth quarter of last year to date, according to the latest surveys by the China Council for the Promotion of International Trade. The CCPIT said on Tuesday that foreign companies are optimistic about their development in China, with over 90 percent of the respondents expecting their return on investment to remain flat or increase in the next five years. The survey revealed that over 70 percent of the foreign firms said they would further localize their industrial chains in China or maintain the status quo. The Yangtze River Delta, the Pearl River Delta, as well as southwest China's Chengdu and Chongqing, are the main destinations for foreign investment, according to the survey.
97%外企满意中国外资政策：5月30日，中国贸促会发布《2023年第一季度中国外资营商环境调研报告》。今年一季度，贸促会对来自全国26个省市区的600余家外资企业进行了调研。报告显示，97%的外资企业对去年四季度以来中国政府出台的外资政策评价为“满意”及以上。超八成受访外资企业预期今年在华投资利润率将持平或有所增加，超九成受访企业预计未来5年在华投资利润持平或有所增加。长三角、珠三角和成渝地区是吸引外商增资的主要地区。扩大在华生产线或实现数字化转型是外企增资的主要方式。超七成受访外资企业表示在华产业链布局将维持现状或将进一步推进产业链本土化。
Chinese home appliance giant Midea Group will become the controlling shareholder of Clou Electronics, a smart meter and energy storage developer, to control the second listed company in the field. The maker of equipment to store renewable energy and charge new energy vehicles issued 252 million shares to Midea for 3.28 yuan per share to raise 828 million yuan to repay its debts and the shares will be listed on the main board of the Shenzhen Stock Exchange on June 2, Clou Electronics said in a statement yesterday. After that Midea will have around 22.8 percent of Clou's equity.
美的正式入主科陆电子：美的集团“入主”科陆电子的交易案尘埃落定。5月30日，科陆电子发布公告称于5月25日取得中国结算深圳分公司出具的确认书，其向美的集团发行的2.52亿股将于6月2日在深交所主板上市。此次权益变动完成后，美的集团的持股比例增至22.79%，成为科陆电子的控股股东，实控人由深圳资本集团变更为何享健。
Switching gears to financial news
金融市场消息
Fosun International had its credit rating outlook revised to “stable”from “negative” by S&P after the Chinese conglomerate reduced its debt by about 24 billion yuan. Fosun raised more than 30 billion yuan from asset sales last year, S&P said in a report published yesterday, which helped repay all of its maturing bonds in the past three quarters and cut its debt to about 93 billion yuan at the end of March from the middle of last year, it added.
复星评级展望获标普提升至“稳定”：5月30日，国际评级机构标普发布报告，将复星评级展望提升至“稳定”。标普在报告中指出，得益于多元化的资产组合和管理层处置资产降债的决心和执行力，复星2022年通过资产处置现金回流约人民币300亿元。同时，复星和诸多银行坚实稳定的合作关系，在债券市场跌宕的时候保障了充足的流动性来源，大体量的资产处置和稳定的银行授信，支持复星成功兑付了以往的三个季度所有集中到期债务。
Wrapping up with a quick look at the stock market
股市收盘情况
Chinese stocks on Wednesday finished the last day of May in losses with the benchmark Shanghai Composite down 0.6 percent, and the Shenzhen Component shed 0.7 percent. Hong Kong’s Hang Seng index also sank 1.9 percent and the TECH index dropped 2 percent.
A股港股震荡收跌：周三A股大盘全天震荡调整，创业板指跌超1%，上证50指数跌超1.5%再创调整新低。截至收盘，沪指跌0.61%，深成指跌0.7%，创业板指跌1.14%。沪深两市全天成交额合计9388亿元，较上一日增量56亿元。北向资金全天净卖出37.98亿元。港股今日再度调整，尾盘跌幅有所收窄，恒指收跌1.94%，恒生科技指数跌2.04%。
Biz Word of the Day
财经词汇划重点
The term credit rating refers to a quantified assessment of a borrower's creditworthiness in general terms or with respect to a particular debt or financial obligation. A credit rating can be assigned to any entity that seeks to borrow money—an individual, a corporation, a state or provincial authority, or a sovereign government.
信用评级的目的是显示受评对象信贷违约风险的大小，一般由某些专门信用评估机构进行。评估机构针对国家、银行、证券公司、基金、债券及上市公司进行信用评级，根据金融状况和有关历史的数据进行调查、分析，从而对受评对象的金融信用状况给出一个总体的评价。
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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