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-ASEAN NEV industry cluster takes shape due to stronger ties and favorable policies;
Hong Kong announces various promotions and discounts on National Day.
Here’s what you need to know about China in the past 24 hours
中国经济要闻
A vibrant display of new-energy products ranging from batteries to electric vehicles at the ongoing 20th China-ASEAN Expo in Nanning, Guangxi province, serves as a prime example of deepening cooperation between China and ASEAN member countries in the emerging field.
The exhibition hall for new-energy products lies in a prominent location of the expo, drawing the attention of visitors and consumers who eagerly seek the opportunity to test-drive the impressive cars on display.
On Monday, Chinese EV startup Neta announced that in the next one to two years, it plans to expand its presence comprehensively into the ASEAN region, achieving complete coverage across all ASEAN member countries.
Within approximately three years, Neta aims to achieve an annual delivery volume of more than 100,000 vehicles in the ASEAN region, a representative of the company told media at the site.
Other Chinese brands have also been racing to expand in the emerging market. For instance, EV giant BYD's wholly owned factory in Thailand is expected to commence operations in 2024. The right-hand-drive passenger vehicles this facility produces will be introduced to the domestic Thai market and will also serve neighboring ASEAN countries and other regions, the company said in a statement on Monday.
Neta, Great Wall Motor (GWM) and SAIC have all set up factories in Thailand.
Chinese automakers dominated Southeast Asia's fast-growing electric vehicle market, selling three out of every four EVs in the first quarter, according to research firm Counterpoint Research.
The carmaking industrial chain is expected to be forged at a faster pace with the support of governments in the region. During Chinese Premier Li Qiang's meetings with leaders of East Asia and ASEAN in early September, the first cooperation document on forming closer EV partnerships was signed, lifting bilateral cooperation in the sector to a new high.
Preferential policies issued by ASEAN member countries as well as strong support from both China and ASEAN countries have contributed to the strong industry situation.
For example, the Thai government approved a budget of 3 billion baht (USD84 million) for the 2022 fiscal year and 40 billion baht for fiscal years 2023 to 2025 to support the development of the EV industry. Indonesia has provided corporate income tax breaks for investors in the EV industry and allocated funds in the budget to provide subsidies for buyers of EVs.
9月17日，第20届中国-东盟博览会（简称“东博会”）在广西南宁开幕。来自40多个国家的近1700家企业同赴盛会，以科创新品，推动中国-东盟区域经济一体化融合。
此次东博会尽显“主场”优势，哪吒汽车、上汽通用五菱、比亚迪等国产新能源车展位“电力”十足，现场参观的观众络绎不绝，也展示出各大车企对东盟市场的高度重视。
2022年，哪吒汽车积极响应国家“一带一路”号召和“走出去”战略，登陆东盟最大的汽车生产国之一——泰国，开启出海元年，成为中国第一个登陆泰国的新势力品牌。
今年1-8月，哪吒V在泰国的纯电汽车上牌量中排名第二，市场占有率接近20%。截止9月，哪吒汽车在泰累计销量超过10000辆。未来一至两年，哪吒汽车将实现所有东盟国家的全覆盖，并计划用三年左右，在东盟实现10万辆以上的年交付量，成为推动东盟新能源发展、共建美好生活的主力军。
目前，中国多家车企已经盯上东南亚市场，并已经或即将开始在当地建厂造车。据盖世汽车研究院统计，整车方面，上汽集团、比亚迪（首个海外乘用车工厂）都已确定在泰国建设生产基地；零部件方面，国轩高科、蜂巢能源、精工汽车等一批配套供应商都将在泰国投资建厂。此外，奇瑞、哪吒、江淮等品牌以KD工厂（散件组装，汽车厂商将整车拆成半散装或散装方式，出口到属地国家，在属地国家开设工厂进行组装）或组装等方式，也已进入泰国市场。
今年9月，第26次东盟与中日韩领导人会议通过了《10+3领导人关于发展电动汽车生态系统的联合声明》。印尼媒体报道，东盟致力于在中日韩的支持下建立一个电动汽车生态系统，东盟有潜力也有雄心成为世界上最重要的电动汽车制造中心之一。东盟国家的这一主张率先得到中国的支持。在出席第26次东盟与中日韩(10+3)领导人会议时，中国国务院总理李强称，中方愿与各方深化数字经济、清洁能源、新能源汽车等领域创新合作，共促新兴产业发展，共同培育更多新的经济增长点。
国际会计师事务所德勤开展的一项调查显示，东盟地区的消费者对电动汽车的兴趣日益浓厚。市场调研机构莫尔多情报咨询公司分析认为，东盟电动汽车市场2021年的总规模为近5亿美元，2027年预计将突破26亿美元，到2035年东盟电动车销量将超过燃油车。
东盟国家近年来纷纷出台相关政策，扶持电动汽车产业发展。在地区层面，东盟制定了《2016—2025年吉隆坡交通战略计划》，以促进地区国家向更清洁、更可持续的交通系统过渡。该计划提出，东盟将创造有利的商业环境和投资环境，优化可持续材料和资源的生产和使用。
例如，泰国提出到2030年生产75万辆电动汽车的目标，力争将国产汽车中电动汽车占比提高到30%。为支持电动汽车发展，泰国政府计划在2023年至2025年间拨款400亿泰铢（1元人民币约合4.93泰铢），主要用于向购车者提供补贴。马来西亚自2022年1月1日起推出一系列针对电动汽车的税收优惠。电动汽车企业可申请70%—100%的所得税减免，减免期限最长达10年。
Greater Bay Area, Greater future
新使命，大未来
Cinemas will offer tickets at half price and many modes of public transport will be free of charge on October 1 to mark National Day, Hong Kong Chief Executive John Lee announced on Tuesday. People can take the tram, Light Rail, MTR bus services, along with two ferry routes free on charge. Holders of child Octopus cards will be able to ride the "heavy rail lines", including the local lines and cross-border East Rail services, as well as bus services operated by KMB and Long Win, at no cost. People can visit the Science Museum, Space Museum and Wetland Park for free as well. Lee said more than 1,000 eateries will offer discounts, and encouraged other shops to join the promotion campaign.
迎国庆香港半价看电影：9月19日，香港特区行政长官李家超表示，特区政府及公营机构将带头推出一系列活动和优惠活动，与市民共同迎接国庆。10月1日当日，全港商业影院将推出半价看电影活动；小童八达通乘客可免费乘搭港铁，包括来往罗湖及落马洲站的车程，亦可免费乘搭九巴及龙运巴士日间巴士路线。另外，李家超指，预计10月1日当日，全港过千家餐厅会提供折扣和优惠。
The second batch of retail green bonds issued by the Hong Kong SAR government is available for subscription starting Monday. During the period until Sept 28, Hong Kong residents aged 18 or above can subscribe to the bonds through 19 banks appointed by the SAR government. To attract investors, Hong Kong banks and securities brokers announced multiple promotions, such as waiving all fees for investors subscribing to and holding the green bonds, including safe custody fees and interest collection fees.
香港新一批绿债开始认购：香港特区政府发行的第二批绿色零售债券(绿债)18日开始接受认购。多家银行和证券机构表示，客户认购反应踊跃。据了解，这批绿债的认购日期为9月18日至9月28日，绿债每手1万港元，年期3年，半年派息一次，保证息率有4.75厘。本地银行及券商纷推出多项优惠吸客，如中国工商银行（亚洲）就绿色零售债券提供最多九大费用豁免优惠，包括认购手续费、买入经纪费（以股票形式在二手市场交易）、沽出经纪费（以股票形式在二手市场交易）、提早赎回费（以债券形式交易)、代收利息费、到期赎回费、转仓费、存入费及托管费。
Chief Executive John Lee on Tuesday expressed concern about allegations of fraud at the unlicensed JPEX cryptocurrency exchange, saying the saga highlighted the need for tighter regulation on the trading of virtual assets. His comments came a day after police arrested six people, including social media influencer Lam Chok, as part of their investigation. More than 1,400 people have made reports to the police about the exchange, involving some HKD1 billion in losses.
JPEX案涉款10亿港元引关注：对于虚拟资产交易平台JPEX案，香港行政长官李家超说，事件反映出对虚拟资产投资监管的重要性。据报道，李家超19日在行政会议召开前，主动表示关注JPEX案。李家超说，政府要确保设立有效制度保障投资者，投资者必须投资在受监管的平台，发牌制度也要确保平台保管投资者的资金和公司营运资金分开。香港证监会9月13日发声明指虚拟资产交易平台JPEX旗下实体一概未获证监会发牌，且并未向证监会申领在港经营虚拟资产平台的牌照。警方商业罪案调查科18日展开行动，先后拘捕六人，截至18日下午，已接获逾1400人报案，涉款10亿港元。
Shenzhen's imports and exports value in the first eight months of the year grew faster than that of Shanghai and Beijing, the two other largest Chinese cities in terms of foreign trade. Shenzhen's imports and exports rose 8.1 percent to 2.37 trillion yuan in the first eight months from a year earlier, data from Shenzhen Customs showed yesterday. Shanghai's and Beijing's foreign trade increased 3.6 percent and 3 percent to 2.79 trillion and 2.39 trillion yuan, respectively.
前8月深圳进出口增速8.1%：9月18日，上海、深圳同一天公布前8月进出口数据。在进出口总额上，上海继续位居第一，北京、深圳分列二、三位，其中京、深之间的差距仅为200亿元。值得注意的是，三者的增速差距较为明显。其中深圳以8.1%的同比增速排名第一，上海、北京分别以3.6%、3%的同比增速排名二、三位。8月份，深圳市进出口3645.6亿元，增长29.4%；其中，出口2431.1亿元，增长48.1%。
Next on industry and company news
产业及公司新闻
Tax break on R&D expenses for integrated circuit companies and industrial machinery makers will rise to 120 percent from 100 percent, China’s finance ministry and three other government departments announced yesterday. This means that for every 100 yuan they spend on R&D, they can deduct 220 yuan from taxable income. For R&D costs run up in the first half of this year, companies can enjoy the new tax break in July, while for the third quarter, they can take advantage of it next month, according to regulations.
提高集成电路和工业母机企业研发费用加计扣除比例：9月18日，财政部、税务总局、国家发展改革委、工业和信息化部联合发布公告明确，提高集成电路和工业母机企业研发费用加计扣除比例，以进一步鼓励企业研发创新，促进集成电路产业和工业母机产业高质量发展。公告规定，集成电路企业和工业母机企业开展研发活动中实际发生的研发费用，未形成无形资产计入当期损益的，在按规定据实扣除的基础上，在2023年1月1日至2027年12月31日期间，再按照实际发生额的120%在税前扣除；形成无形资产的，在上述期间按照无形资产成本的220%在税前摊销。
China's liquor giant Kweichow Moutai today lashed out against the price markups some online merchants are charging for its latest co-branded baijiu-infused chocolate with Mars Wrigley's Dove brand. The product, launched on Saturday, was an instant hit and was sold out within minutes after it was put on sale at the online store. As of Monday morning, the chocolate remains unavailable on Kweichow Moutai's official online store. On Chinese e-commerce platform Pinduoduo, dealers added markup for the trending chocolate, with some selling at 120 yuan per box of two pieces for an original price tag of 39 yuan, an increase of 200 percent. Kweichow Moutai said it is increasing capacity and will soon replenish the chocolate on multiple official stores.
茅台抵制加价销售酒心巧克力：9月19日早间，针对近期茅小凌酒心巧克力在多个渠道开售即售罄的情况，茅台国际大酒店微信公众号发文表示，坚决抵制部分商家加价销售茅小凌酒心巧克力的行为，请广大消费者理性消费，购买时认准官方渠道。为了最大限度满足大家的消费体验和品饮感受，茅小凌酒心巧克力已经在加急生产，近期将在各渠道陆续补货。据报道，部分电商平台商家提价超过200%，如官方定价39元/盒的2颗装茅小凌减糖酒心巧克力，在拼多多上有商家报价119.9元/盒，涨幅超200%。据@贵州茅台官微，本次联名的酒心巧克力添加2%的53%vol贵州茅台酒，并在线上电商、线下商超专卖店多个渠道限量发售。其中，经典酒心巧克力礼盒2粒装定价为35元/盒、减糖酒心巧克力礼盒2粒装定价为39元/盒。
Gotion High-Tech has begun making battery packs at its automated plant in Göttingen, Germany and expects deliveries to clients in Europe to commence at the start next month, the Chinese electric vehicle battery giant said on Monday. The plant will have a production capacity of 5 gigawatt-hours a year by the middle of next year and will likely achieve an output value of EUR2 billion annually when the four stages are completed, Gotion said.
国轩高科德国基地投产：9月18日，国轩高科德国基地首条电池产线投产，首款电池产品已正式下线。据悉，国轩高科德国工厂位于德国中部哥廷根，总计产能规划是20GWh（吉瓦时），预计分四期完成，全部完成后有望实现20亿欧元的年产值。国轩高科方面表示，预计10月起可向欧洲客户供货，2024年中工厂实际产能将达到5GWh。
Shares of Sunac China Holdings rose after the Chinese property developer's creditors approved its offshore debt restructuring scheme, which is set to downscale its liabilities by up to USD4.5 billion. Some 99.8 percent of Sunac's creditors voted for the schemes, with the offshore debts' approval rate at 98.3 percent, the company said in a filing yesterday.
融创境外债重组最终获99.75%债权人通过：9月18日晚间，融创中国公告披露境外债重组最新进展。在当日召开的债权人境外债重组会议上，共有2019名债权人投票，其中2014名持票人投票赞成重组计划，债权人数通过率为99.75%，债务总额通过率为98.3%。初步测算，融创通过债转股消减债务总额合计将超过45亿美元。
Switching gears to financial news
金融市场消息
Chinese stocks rose on Monday after regulators said they are revising the rules to encourage companies to pay good dividends, and will also rein in those who are paying dividends beyond their means, in order to ensure that investors get a decent and fair return. Companies that do not pay dividends or only pay a small dividend will be asked to explain why, according to a department head at the China Securities Regulatory Commission yesterday. Those companies that tend to channel their profit into investments will be urged to use their assets more efficiently and told to focus on their primary businesses and the return to investors, the watchdog said. It will encourage more talks between listed companies and regulators to help investors be more informed about dividend payment plans.
证监会拟加强制度约束督促分红：18日，A股三大指数全线飘红。消息面上，证监会近期拟对上市公司现金分红规则进行修改。据证监会有关部门负责人介绍，拟进一步对不分红或分红少的公司加强制度约束督促分红，推动进一步优化分红方式和节奏，让分红好的公司得到更多激励，同时也加强对超出能力分红企业的约束等。具体来看，此轮修订对不分红或分红少的公司加强制度约束督促分红。一是强化信息披露监管。对于主板上市公司分红未达到一定比例的，要求披露解释原因。二是对财务性投资较多的公司强化披露要求，督促公司提高资产使用效率，更好专注主业和回报投资者。三是强化问询和监管约谈。加强监管问询，帮助投资者对分红信息更好作出判断，通过约谈等方式督促加大分红力度。
China’s central bank will strengthen efforts to stabilize trade and improve the business environment for foreign firms, its governor said Monday, adding to pledges among top leaders this year to open up to overseas investors. Pan Gongsheng, head of People’s Bank of China (PBOC) and the State Administration of Foreign Exchange(SAFE), stressed the central bank’s initiatives at a symposium attended by representatives from a slew of top foreign companies, including JPMorgan Chase, HSBC, Deutsche Bank, BNP Paribas, UBS and Tesla. Pan vowed that China will continue to open up its market for global businesses, and financial regulators will effectively carry out existing policy measures to stabilize foreign trade and investment to continuously optimize policy arrangement and improve the business environment.
两部门召开外资金融机构与外企座谈会：9月18日，中国人民银行党委书记、行长，国家外汇管理局党组书记、局长潘功胜主持召开外资金融机构和外资企业座谈会，听取有关意见建议，研究加大金融支持稳外贸稳外资力度，进一步优化外商投资环境有关工作。摩根大通银行、汇丰银行、德意志银行、法国巴黎银行、瑞银证券、三菱日联银行、特斯拉、巴斯夫、托克、施耐德等外资金融机构和外资企业参加座谈会。座谈会上，外资金融机构和外资企业负责人介绍了在华展业情况，普遍认为近年来中国金融业开放稳步推进，金融服务外资外贸能力持续提升，希望进一步完善相关政策安排，持续优化营商环境。潘功胜表示，积极吸引和利用外商投资，是推进高水平对外开放、构建开放型经济新体制的重要内容。下一步，持续优化政策安排，营造市场化、法治化、国际化一流营商环境，不断提升金融服务质效，助力高水平对外开放。
China, the United States’ second-largest creditor nation, reduced its holdings of US Treasury bonds for the fourth straight month in July to the lowest in more than 14 years. China’s holdings of US Treasuries fell by USD13.6 billion to USD821.8 billion in July from the previous month, according to data released yesterday by the US Department of the Treasury. That was the lowest since May 2009.
中国减持美债至14年来新低：美东时间9月18日周一，美国财政部公布国际资本流动报告（TIC），显示今年7月，海外总计持有的美国国债环比6月增加920亿美元，至7.65万亿美元创去年2月以来新高。报告显示，中国大陆7月仍是仅次于日本的第二大海外持有美债地区，但7月的持仓已连续第四个月下降，7月共持有8218亿美元，连续两个月创2009年6月以来新低，环比6月减少136亿美元。
Wrapping up with a quick look at the stock market
股市收盘情况
Chinese stocks slid on Tuesday with total turnover of the two major indices plunged to 625 billion yuan, a yearly new low. The benchmark Shanghai Composite closed nearly flat, while the Shenzhen Component fell 0.7 percent. Hong Kong stocks posted small gains with the Hang Seng index edging up 0.4 percent, while the TECH index ended marginally lower.
A股港股震荡分化：大盘全天震荡分化，沪指窄幅震荡相对偏强，深成指、创业板指震荡调整。截至收盘，沪指跌0.03%，深成指跌0.73%，创业板指跌0.88%。沪深两市今日成交额6350亿，较上个交易日缩量635亿，成交金额创年内新低。北向资金全天净卖出24.23亿元。港股涨跌不一，恒生指数微涨0.37%，恒生科技指数跌0.06%
Biz Word of the Day
财经词汇划重点
A dividend is the distribution of a company's earnings to its shareholders and is determined by the company's board of directors. Dividends are often distributed quarterly and may be paid out as cash or in the form of reinvestment in additional stock.
分红是股份公司将当年的收益按股票份额的一定比例支付给投资者的红利，是上市公司对股东的投资回报，是股东收益的一种方式。
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
