Hi everyone. I’m Stephanie LI.

【資料圖】

大家好，我是主持人李瑩亮。

Coming up on today’s program.

重點提要

Top planner is studying ways to boost investment and consumption;

China resumes passenger flights to 82% of pre-pandemic level.

Here’s what you need to know about China in the past 24 hours

中國經濟要聞

China is formulating plans to boost the recovery and expansion of consumption, top economic planner"s spokesperson Meng Wei said on Wednesday, signaling officials are worried about weak demand despite a sharp rebound in retail sales.

The document will mainly focus on key fields such as stabilizing spending on big-ticket items, enhancing service consumption and expanding rural consumption, Meng said at a news conference, adding that China will formulate targeted policy measures based on the needs of different income groups and different categories of consumption.

The statistics bureau said yesterday that consumption is playing an increasingly prominent role in driving economic development, contributing to 66.6 percent of China"s growth in the first quarter.

Although official data showed retail sales rose at a faster pace in March compared to the previous month, policymakers remain concerned that the lack of demand is adding uncertainty to the economic growth.

Citing the official consumption data, Meng said China is making a good start for the full-year performance, and the country will make a big push to stabilize the spending on cars, accelerate the construction of charging piles and urban parking facilities, vigorously promote new energy vehicles to rural areas and encourage automobile companies to develop models suitable for use in rural areas.

Meanwhile, the NDRC told the same news conference that China will appropriately shorten the negative list for foreign investment. Efforts have been made to evaluate the effect of the list over the past few years and learn about the demands of foreign-invested enterprises, Meng said.

The state planner pledged more moves to proactively utilize foreign investment, saying that policies to channel more foreign investment to advanced manufacturing, high-end technologies and modern services, as well as the central, western and northeastern regions of the country, will be fully implemented.

4月19日，國家發改委新聞發言人孟瑋在新聞發布會上，就一季度經濟運行亮點，下階段穩消費、穩外資舉措等熱點問題作出回應。

孟瑋表示，總體上看，一季度我國經濟發展實現了良好開局。在全球經濟增速明顯放緩、主要經濟體通脹居高難下的背景下，我們扎扎實實做好自己的事，實現了經濟較快回升，國內生產總值同比增長4.5%，增速比上年四季度提高了1.6個百分點，為完成全年經濟社會發展目標任務打下了堅實基礎。

“開年以來，很多人都感受到，人流物流更加活躍了，餐飲旅游快速恢復了，項目建設明顯提速了，招商引資也加大了力度，經濟運行整體好轉的積極因素不斷增多。”孟瑋指出，一季度我國經濟發展實現良好開局，從具體運行特點來看，可以用三句話概括：需求擴大、供給恢復、預期改善。

國家統計局數據顯示，一季度社會消費品零售總額增長5.8%，比上年四季度加快8.5個百分點。固定資產投資增長5.1%，其中，基礎設施、制造業投資分別增長8.8%、7.0%。出口增速回升，以人民幣計價貨物進出口額增長4.8%。

孟瑋指出，下一步，發改委將在深入調查研究基礎上，扎實做好經濟運行監測、形勢分析和對策研究，適時出臺務實管用的政策舉措，鞏固拓展向好勢頭，推動經濟運行持續整體好轉。

具體到穩消費、促消費來看，孟瑋表示，發改委當前正在抓緊研究起草關于恢復和擴大消費的政策文件，主要是圍繞穩定大宗消費、提升服務消費、拓展農村消費等重點領域，根據不同收入群體、不同消費品類的需求制定有針對性的政策舉措，推動消費平穩增長。

汽車是支撐消費的“大頭”，孟瑋表示，發改委將下大力氣穩住，“我們將加快推進充電樁和城市停車設施建設，大力推動新能源汽車下鄉，鼓勵汽車企業開發更適宜縣鄉村地區使用的車型。同時，加快實施公共領域車輛全面電動化先行區試點。”

此外，孟瑋表示，發改委將研究合理縮減外資準入負面清單。目前，正在評估過去幾年外資準入負面清單的實施效果，深入了解地方和外資企業在擴大外資市場準入方面的訴求，研究進一步擴大開放的政策措施。落實落細已出臺政策，引導外資更多投向先進制造業、現代服務業、高新技術、節能環保等重點領域和中西部、東北等重點地區。

Highlight of the 133rd Canton Fair

廣交會，新方位

Chinese exporters have brought their latest innovative products and solutions with cutting-edge technologies to the Canton Fair with hopes of clinching more overseas orders. Organizers of the fair said that the number of high-quality companies exhibiting their products during the fair has reached a record high in the event"s history. EHang Holdings Ltd, the world"s leading autonomous aerial vehicle technology platform company, brings its EH 216 series to the Canton Fair to showcase its cutting-edge urban air mobility technologies and functionality.

廣交會D區展館科技感十足：與往屆相比，此次廣交會的一個亮點是面對市場新需求，為新能源汽車、智能制造等新興產業開設專門展區，增加工業自動化和智能制造、新能源及智能網聯汽車、智慧生活、孕嬰童用品、“銀發經濟”、檢測和防護用品等新的展覽題材。本次廣交會正式啟用新落成的D區展館，聚集了新能源及智能網聯汽車、通用機械及機械基礎件等展區，首度登場即吸引了無數采購商前往，人氣爆棚。D區展館不僅工業氛圍濃厚，而且科技感十足，帶有“綠色元素”的新能源產品也為展館增添了不少亮點。例如，廣州企業億航智能帶來的三款機型，針對不同的應用場景，都具有無人駕駛、全備份安全性設計、智能指揮調度中心集群管理等技術優勢。

Moving on to regional highlights

區域觀察

New car-making forces in the electric car world have taken center stage at the 20th Shanghai International Automobile Industry Exhibition that kicked off yesterday. More than 100 new cars from over 1,000 exhibitors made their global debuts and more than 1,500 vehicles were put on display in the 360,000-square-meter exhibition hall. Nio has brought six EVs to this year’s show including three brand new ones. And established carmakers such as BYD, Geely, Chongqing Changan Automobile and Great Wall Motor are also displaying their newest electric cars.

Foreign carmakers, such as Mercedes-Benz, BMW and Audi, have also strong presence. BMW unveiled a lineup of electric vehicles at the Shanghai auto show to meet the needs of Chinese customers in the era of digital electric mobility. Japan’s Toyota Motor has brought two all-electric models cars that will go to market next year. Its sport utility vehicle bZ4X is already on sale in China, and the bZ3 will be launched at the show. Volkswagen also announced plans to invest 10 billion euros to set up a new company in Hefei, Anhui Province to speed up R&D and innovation on intelligent and connected electric vehicles.

2023上海車展電動車占領C位：4月18－27日，2023第二十屆上海國際汽車工業展覽會將在國家會展中心（上海）舉行。本屆車展共吸引了1000余家企業積極參展，展出總面積超過36萬平方米，將有百余款全球首發車亮相。2023上海車展是今年全球第一個A級車展，包括大眾、奧迪、奔馳、寶馬、標致雪鐵龍等在內的十余家跨國車企全球CEO越海而來，國內主要車企的高層也悉數抵滬。

國產廠商中，包括仰望、埃安、智己、嵐圖、極氪、阿維塔、猛士、深藍汽車、魏牌等多家自主高端新能源品牌將悉數登場。作為比亞迪打造的百萬元級新能源硬派越野SUV仰望U8以及純電動超跑U9，均將在本屆上海車展亮相；騰勢品牌則將帶來純電中型SUV騰勢N7，挑戰奧迪Q5、寶馬X3、奔馳GLC等BBA的拳頭產品；領克08、吉利銀河L7、極氪X組成的吉利新能源新品陣容，也將集體亮相；奇瑞則將帶來星途旗下首款高端智能純電動轎車E03。全新蔚來ES6將在本屆上海車展完成首秀，小鵬汽車將帶來第二款轎跑SUV小鵬G6。

而以BBA為代表的德系豪華品牌都將在車展上展現強大的電動產品陣容，展現轉型決心。梅賽德斯-奔馳將攜1款全球首秀、5款中國首秀等共27款重磅車型亮相；奧迪基于PPE豪華純電動平臺打造的奧迪A6 Avant e-tron概念車和奧迪urbansphere概念車，將在上海車展完成國內首秀；寶馬創新純電動BMW i7 M70L和創新BMW XM Label Red限量版全球首發，而全新BMW M760Le則將迎來中國首秀。豐田bZ系列此前在國內銷量欠佳，采用比亞迪核心三電技術的一汽bZ3是其強化產品陣容、開辟在華電動轉型新思路的重要車型。本田方面，象征著Honda e:N品牌第二款產品的e:N2量產版將迎來全球首發。

Greater Bay Area, Greater future

新使命，大未來

Guangdong province has attracted investments in integrated circuits worth more than 500 billion yuan, local officials told a forum yesterday. Guangdong is cultivating 20 strategic industrial clusters and has laid out a number of major projects in semiconductors, micro electro-mechanical systems and other specialty processes, they said. Among the key projects in Guangdong in 2023, there are more than 50 related to the semiconductor industry with a total investment of over 140 billion yuan, including three 10-billion-yuan projects, the officials said. The Guangdong IC Industry Fund - a provincial government investment fund launched at the end of 2020 - has reached 31 billion yuan in its first phase and the second phase is currently being set up with a scale of 30 billion yuan, the officials added.

廣東集成電路基金二期啟動：18日舉行的第25屆集成電路制造年會上，粵財控股董事長金圣宏表示，廣東半導體及集成電路產業投資基金二期在籌劃中，規模300億元，基金期限長達17年，母基金可直投，子基金包括汽車芯片、半導體材料設備、化合物半導體等主題基金，且二期基金在投資退出后可向被投企業讓利60%。此前，廣東省集成電路基金一期于2020年成立，規模為200億元。當前，廣東正在培育20個戰略性的產業集群，在集成電路產業集群中，目前廣東省在模擬高端、化合物半導體、MENS傳感器等特色工藝方面布局了一批重大的產線項目。根據公開信息統計，在今年公布的廣東省2023年重點建設項目計劃中，半導體產業相關的項目超50個，涵蓋第三代半導體、封裝測試、半導體材料、MLCC、傳感器等領域，總投資逾1400億，其中包括三個百億級項目。

Next on industry and company news

產業及公司新聞

Air passenger trips recovered significantly in China during the first quarter of this year, with the number of domestic flights reaching roughly 90 percent of that before the COVID-19 epidemic, the Civil Aviation Administration of China said on Tuesday. In the first quarter, 129 million air passenger trips were made, up 68.9 percent year-on-year. Of those, 126 million were domestic air passenger trips, which were up 66.6 percent year-on-year and equated to 88.6 percent of trips taken during the same period in 2019. A total of 2.24 million international air passenger trips were made, a year-on-year increase of 717 percent, equivalent to 12.4 percent of the pre-epidemic level, while the number further recovered to 18.1 percent in March.

一季度國內民航客運量恢復至疫情前九成：民航局18日介紹，一季度，民航經濟運行持續恢復、逐步向好，實現了全年工作的良好開局。航空客運需求快速恢復，國內客運規模恢復至疫情前約九成。一季度，全行業共完成旅客運輸量1.29億人次，同比增長68.9%，旅客運輸規模相當于2019年同期的80.0%，較2022年四季度大幅提升51.0個百分點。從航線結構看，國內航線完成1.26億人次，同比增長66.6%，規模相當于2019年同期的88.6%；國際航線完成224.2萬人次，同比增長717.0%，規模相當于2019年同期的12.4%。隨著國際客運航班的持續恢復，3月份，國際航線旅客運輸量已恢復至疫情前同期的18.1%。

China"s State Administration for Market Regulation (SAMR) announced on Tuesday the start of a new inspection campaign targeting unfair competition in cyberspace and residential consumption.The SAMR vowed to inspect fake purchase records as well as fake feedback and advertising, in order to secure the development of the digital economy. The campaign will enhance regulations for business activities to cover areas including bribery in medicine, catering and the tourism industry, further improving market confidence and consumption.

反不正當競爭專項行動開始：4月18日消息，據國家市場監督管理總局官網，市場監管總局近日組織開展2023年反不正當競爭“守護”專項執法行動。專項執法行動突出三個重點：一是以查處互聯網不正當競爭行為為重點，嚴厲查處刷單炒信、網絡直播虛假宣傳等網絡不正當競爭行為，為數字經濟發展保駕護航。二是以規范民生領域營銷行為為重點，加強對新型商業營銷行為監管，嚴打醫藥購銷、餐飲旅游等重點行業商業賄賂違法行為，提升消費信心，促進消費提質升級。三是以保護企業核心競爭力為重點，加強商業秘密、商業標識和商業信譽等保護，激發企業創新活力，促進商品和要素高效流通，推動建設全國統一大市場。

There were 316 Chinese unicorn companies, or startups valued at over $1 billion, by the end of last year, 15 more than the previous year and ranking second to follow the US with 666, according to the Global Unicorn Index 2023 by research institute Hurun released on Tuesday. There are 379 unicorn companies in the rest of the world. Unicorn companies in the US mainly engage in software services, financial technology and health technology, while those in China mainly focus on artificial intelligence, semiconductors and e-commerce, the report said.

胡潤2023全球獨角獸榜發布：4月18日，胡潤研究院發布《2023全球獨角獸榜》顯示，全球共有1361家獨角獸企業，總價值約30萬億元。其中，過去一年誕生508家新獨角獸企業，中國有107家。從獨角獸企業分布來看，美國666家、中國316家，世界其他國家合計379家。中國獨角獸企業分布的行業，主要是人工智能、半導體和電子商務。在全球獨角獸企業前十名中，總部位于中國的企業分別是字節跳動、螞蟻集團、Shein、微眾銀行、菜鳥網絡。

Li Auto, a Chinese new energy vehicle startup, is slated to become the first company to use CATL"s 4C-rate Qilin batteries to offer faster charging times, the firm said in a statement yesterday. The 4C rate means that the battery can be charged fully in 15 minutes. Moreover, the company will offer an 800 V super-charging solution to prepare a car for a range of 400 kilometers in 10 minutes.

理想首款純電車型搭載寧德時代4C麒麟電池：4月18日，理想汽車在2023上海車展期間發布“雙能戰略”純電解決方案，接下來理想汽車將正式進入發展新階段，在電動化和智能化方面全面發力。根據最新方案，理想汽車將實現800V超充，充電10分鐘，續航400公里。

Trina Solar plans to spend 5 billion yuan to build another high-efficiency solar battery factory to boost the company’s solar cell output and improve profitability, the country’s biggest solar panel maker said yesterday. The new facility, which will be located in Huai’an, Jiangsu province, will have an annual capacity of 10 gigawatts, the firm said.

天合光能擬50億元投建新一代高效電池項目：4月18日晚間，天合光能發布公告稱，公司擬在淮安經濟技術開發區投資建設年產10GW新一代高效電池項目及相關配套輔助設施，項目總投資約50億元人民幣（含流動資金）。

Switching gears to financial news

金融市場消息

China"s Ministry of Finance said on Tuesday the country"s fiscal revenue rose 0.5 percent year-on-year in the first quarter, reversing a downtrend seen in the January-February period, while fiscal expenditure rose 6.8 percent. First-quarter fiscal revenue at the central level fell 4.7 percent year-on-year, while that at the local level grew by 5 percent. National tax revenue came in at 5.17 trillion yuan, down 1.4 percent year-on-year, in which value-added tax revenue grew by 12.2 percent, yet income from consumption tax dropped 22.2 percent.

一季度我國財政收入由負轉正：財政部18日發布數據顯示，一季度，全國一般公共預算收入62341億元，同比增長0.5%，累計增幅比前2個月提高1.7個百分點，實現由負轉正。財政支出方面，一季度全國一般公共預算支出同比增長6.8%。從稅收收入看，一季度，全國稅收收入同比下降1.4%，扣除特殊因素影響后增長2%。其中，國內增值稅增長12.2%；國內消費稅下降22.2%；進口貨物增值稅、消費稅下降14.4%；企業所得稅增長9.3%；個人所得稅下降4.4%。從非稅收入看，一季度，全國非稅收入同比增長10.9%。

Wrapping up with a quick look at the stock market

股市收盤情況

Chinese stocks fell on Wednesday with the benchmark Shanghai Composite down 0.7 percent, while the Shenzhen Component shed 0.8 percent. Hong Kong’s Hang Seng index also closed 1.4 percent lower, and the TECH index dropped 2.4 percent.

A股走低港股收跌：周三A股三大指數集體收跌，截至收盤，滬指跌0.68%，深成指跌0.84%，創業板指跌0.63%。兩市全天成交額10826億元，連續第十二個交易日突破萬億。港股低開低走，恒指收跌1.37%，恒生科技指數重挫2.39%。

Biz Word of the Day

財經詞匯劃重點

Integrated circuitsareelectronic components that are produced in or on a small slice of material, usually silicon, where many tiny devices such as transistors, resistors, capacitors, and diodes are fabricated and connected together. They are also called chips or microchips. They can have various functions, such as amplifying, oscillating, timing, counting, logic, memory, or processing.

集成電路，或稱芯片，是采用半導體制作工藝，在一塊較小的單晶硅片上制作上許多晶體管及電阻器、電容器等元器件，并按照多層布線或遂道布線的方法將元器件組合成完整的電子電路。

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

編委: 于曉娜

策劃、編輯：李艷霞

播音：李瑩亮

撰稿：李瑩亮

音頻制作：李瑩亮

設計：鄭文靜、廖苑妮

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