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’s monetary policy will be stronger and more accurate, PBOC governor says;
Foxconn said it operates by law after reports that it’s being investigated by regulators in the Chinese mainland.
Here’s what you need to know about China in the past 24 hours
中国经济要闻
China will implement a sound monetary policy that is more precise and effective, keeping steady credit expansion and encouraging financial institutions to further reduce real lending interest rates, said a report from the State Council on financial work.
Enterprises' comprehensive financing costs and individuals' consumption credit costs will be alleviated while order of the deposit and loan market will maintained, Pan Gongsheng, governor of the People's Bank of China, the country's central bank, said while delivering the report, which was submitted on Saturday for deliberation at a session of the Standing Committee of the National People's Congress.
This is the second time this month that the PBOC governor released positive policy signals after saying at a meeting held by the International Monetary Fund in Morocco last week that in the next step, the dual function of monetary policy tools’ total amount and structure will be exploited to focus on expanding the internal demand and boosting confidence to offer stronger supports to the real economy.
According to the report, progress has been made in alleviating market entities' financing costs this year. The weighted average interest rate of corporate loans in September was 3.82 percent, the lowest in history, while the interest rate of new individual mortgages in the first nine months stood at 4.13 percent on average, down 0.88 percentage points year-on-year.
Official data also shows that 22 trillion yuan in existing mortgages have had interest rates reduced so far, with an average interest rate reduction of 0.73 percentage points, benefiting about 50 million households and 150 million people.
Interest expenses worth 160 billion yuan in total are saved per year, which means that each household saves 3,200 yuan per year on average.
Pan, while delivering the report, also pledged to proactively address financial risks, with a mechanism to be established to resolve the debt risk of local government financial vehicles (LGFVs). Financial institutions will be guided to support LGFV risk resolution according to laws and regulations.
The PBOC will guide various regions to carry out differentiated housing credit policies and support property developers’ reasonable demand for financing to guarantee the smooth delivery of residential property projects, Pan said about the resolution of real estate market risks.
10月21日，受国务院委托，中国人民银行行长潘功胜在第十四届全国人民代表大会常务委员会第六次会议上作国务院关于金融工作情况的报告。他就2022年第四季度以来的金融工作情况进行了报告。
潘功胜表示，金融系统精准有力实施稳健的货币政策，进一步加大对实体经济的支持力度，加强和完善现代金融监管，有效防控金融风险，稳步推进金融改革，持续深化对外开放，切实改进金融服务，金融行业整体稳健，金融市场平稳运行，金融风险总体可控。
潘功胜透露，今年1月至9月，新发放企业贷款加权平均利率为3.91%，比2022年同期下降0.32个百分点，其中9月企业贷款加权平均利率为3.82%，处于历史最低水平。推动降低存量首套住房贷款利率，近5000万笔、22万亿元存量房贷利率下降，平均降幅0.73个百分点。
另据央行相关负责人介绍，目前，已有超过22万亿元存量房贷利率完成下调，惠及约5000万户、1.5亿人，合计每年减少借款人利息支出1600亿元，户均每年减少3200元。
潘功胜表示，金融系统进一步提升了对实体经济的服务质效，为经济回升向好营造良好的货币金融环境。1月至9月，人民币贷款新增19.75万亿元，同比多增1.58万亿元。上海证券交易所、深圳证券交易所共有204家企业首次公开发行股票（IPO），融资3125亿元。债券净融资7.6万亿元，占社会融资规模增量的25.9%
潘功胜表示，下一步，金融系统将继续实施稳健的货币政策，坚持稳字当头、稳中求进，针对经济形势的变化，精准有力实施宏观调控，切实加强金融监管，着力扩大内需、提振信心、防范风险，推动经济运行持续回升向好。
对于房地产市场风险，潘功胜表示，下一步要按照因城施策原则，指导各地精准实施差别化住房信贷政策，加大保交楼金融支持力度，一视同仁支持房地产企业合理融资需求，保持房地产融资平稳。
China and Australia have reached consensus in terms of properly settling disputes of common concern, including the ones concerning wine and wind towers, under the framework of the World Trade Organization, a spokesperson for China's Ministry of Commerce said Sunday. Noting that China and Australia are important trade partners to each other, the spokesperson said China is willing to work with Australia to foster stable and sound development of bilateral economic and trade relations through dialogues and consultations.
中澳世贸争端达成妥善解决共识：针对澳方宣布已与中方就解决有关葡萄酒等世贸争端案达成共识，商务部新闻发言人22日回应称，近期，中澳在世贸组织框架下，就彼此关切的葡萄酒、风塔等世贸争端进行了友好协商，并达成妥善解决的共识。中澳互为重要贸易伙伴，我们愿与澳方一道，继续通过对话协商，相向而行，共同推动双边经贸关系稳定健康发展。
Greater Bay Area, Greater future
新使命，大未来
Hong Kong Chief Executive John Lee said on Sunday that his second Policy Address would “belong to every citizen”. In a video posted on social media, Lee displays a copy of the Policy Address he'll deliver in the Legislative Council on Wednesday. The document has a green cover and a subtitle that translates as: “Strive to improve the economy, plan development, benefit livelihoods and add happiness”. In the video, Lee says his government has held more than 40 consultations, while officials have made many visits over the past three months to pick up opinions from different sectors.
李家超称新一份施政报告“属于香港市民”：香港特区行政长官李家超将于25日发表任内第二份施政报告。李家超22日在其社交媒体上传一则影片。影片中，他手持新一份施政报告，封面以浅绿色作背景颜色。在施政报告内页中，以深绿色底衬托白色字主题“拼经济谋发展、惠民生添幸福”。李家超说，过去约三个月，他和团队举办超过40场咨询会，广纳言路，走访各区听取市民的想法。他感谢社会各界的意见和建议，帮助他制订具体措施，提升治理水平，增强发展动能，纾解民困和凝聚力量。他表示这是属于每一位市民的施政报告。
Next on industry and company news
产业及公司新闻
Foxconn Technology Group, the world's largest electronics manufacturing contractor, said compliance with the law is a basic principle for the company around the world, and it will actively cooperate with the authorities on the related work and operations. The comments came after media reported on Sunday that Chinese mainland tax authorities are conducting tax inspections on key enterprises of Foxconn in Guangdong and Jiangsu provinces, and natural resources regulatory departments are carrying out on-site investigations into the company's land use in Henan and Hubei provinces.
富士康母公司回应被调查：22日，据报道，税务部门近期依法对富士康集团在广东、江苏等地的重点企业进行税务稽查，自然资源部门对富士康在河南、湖北等地的重点企业用地情况进行现场调查。富士康母公司鸿海科技集团官网23日回应：“合法合规为集团在全球各地的基本原则。我们会积极配合相关单位的作业。”
BeyonCa, a Chinese smart electric car startup backed by Renault Group and Dongfeng Motor Corporation, said on Monday that it has joined hands with Saudi Arabia-based conglomerate Al Faisaliah Group to explore the premium EV market in the Middle East. The two companies signed a memorandum of investment and strategic cooperation in Wuhan, Central China's Hubei province, on Friday. BeyonCa also inked a deal on the same day with Q Auto, a Qatar-based vehicle dealer that works with brands including Volkswagen and Audi.
又一“造车新势力”获中东资本垂青：23日消息，据BeyonCa官方公众号，BeyonCa 与总部位于沙特阿拉伯的投资集团 AI Faisaliah Group Holding Company（AFG）达成战略合作。同时，BeyonCa 当天还与 Q Auto 签署战略合作协议，后者据称在中东地区拥有“丰富汽车产业和资源”。Q Auto 董事长表示，通过此次合作，公司将在阿拉伯地区建立中国电动汽车产业枢纽。
Major Chinese oil company, CNOOC, on Monday announced the discovery of China's first deep coal-bed gas field with proven reserve exceeding 110 billion cubic meters in North China's Inner Mongolia. Located within the Shenfu Deep Coal Bed Gas Field near the eastern edge of the Ordos Basin, Inner Mongolia, the find is 2,000-meter deep and absorbed within a coal reservoir that is 6.2 meters to 23.3 meters thick. CNOOC has currently deployed over 100 exploratory wells, with the maximum daily output of a single well reaches 26,000 cubic meters, the company said.
中海油发现我国首个千亿方深煤层大气田：10月23日，中国海油发布消息，在鄂尔多斯盆地东缘发现了我国首个千亿方深煤层气田——神府深煤层大气田。根据中国海油的消息，该气田的地质储量超过1100亿立方米，这对于保障国家能源安全和助力西部大开发具有重要意义。神府深煤层大气田位于陕西省榆林市，煤层埋藏在大约2000米的深度，单层厚度在6米至23米之间。每吨煤的平均含气量达到15立方米。目前，已经在该区域部署了超过100口探井，单口井的最高日产气量达到26000立方米。
China's grain output is expected to reach a record high this year despite floods and droughts. Grain production should exceed 650 billion kilograms for the ninth year in a row, Zeng Yande, director of the development and planning department of the Ministry of Agriculture and Rural Affairs, said at a press conference today.
全年粮食产量有望再创历史新高：10月23日上午，国新办举行新闻发布会，介绍2023年前三季度农业农村经济运行情况。农业农村部总农艺师、发展规划司司长曾衍德在会上表示，今年中国粮食生产克服黄淮罕见“烂场雨”、华北东北局地严重洪涝、西北局部干旱等灾害影响，产量有望再创历史新高，连续9年保持在1.3万亿斤以上。
This year, China has handled more than 100 billion parcels as of Monday morning, 39 days earlier than 2022, showcasing the sector's strong resilience and vitality, the State Post Bureau of China said on Monday.
今年第1000亿件包裹提前39天产生：10月23日，国家邮政局快递大数据平台实时监测数据显示，2023年全国第1000亿件快递产生。这已是自2021年起，我国快递年业务量连续第三年突破千亿件级别，而今年千亿件比去年提前了39天到来。
Wrapping up with a quick look at the stock market
股市收盘情况
Chinese stocks fell to a 1-year low early Monday as foreign investors sold off holdings. The benchmark Shanghai Composite and the Shenzhen Component each ended 1.5 percent lower. Hong Kong’s markets were closed for today for the Double Ninth Festival.
A股走低港股休市：周一A股大盘全天低开低走，三大指数均跌超1%续创调整新低。截止收盘，沪指跌1.47%，深成指跌1.51%，创业板指跌1.69%。总体上个股跌多涨少，两市超4600只个股下跌。沪深两市今日成交额7211亿，较上个交易日缩量106亿。北向资金净卖出超16亿元。港股今日重阳节休市。
Biz Word of the Day
财经词汇划重点
Coal-bed methane (or coal-bed gas) is a form of natural gas extracted from coal beds. The term refers to methane absorbed into the solid matrix of the coal.
煤层气是指赋存在煤层中，以甲烷为主要成分、以吸附在煤基质颗粒表面为主，并部分游离于煤孔隙中或溶解于煤层水中的天然气体，是煤的伴生矿产资源，属非常规天然气。
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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