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#39;s August new bank loans exceed expectations as financial support for real economy increases;

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

中国经济要闻

New bank loans in China almost quadrupled in August from July to an all-time record of 1.36 trillion yuan, the central bank announced on Monday, signaling improvement in market expectations and sentiment, and showed the effects of the country#39;s increased financial support for the real economy.

The outstanding yuan loans expanded by 17.44 trillion yuan in the first eight months of the year, compared with 15.68 trillion yuan recorded a year earlier, according to data that the People#39;s Bank of China released on Monday.

As of August, the cumulative total social financing , a broad measure of credit and liquidity in the economy that includes bank loans, rose 9 percent year-on-year, primarily driven by the accelerated issuance of local government bonds and a recovery in bond market financing.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, climbed 10.6 percent year-on-year to 286.93 trillion yuan at the end of August, the data showed.

The pace of growth eased from a rise of 10.7 percent seen at the end of July, and also moderated from an increase of 12.2 percent registered at the end of August 2022.

The M1, which covers cash in circulation plus demand deposits, stood at 67.96 trillion yuan at the end of August, up 2.2 percent year-on-year. The M0, the amount of cash in circulation, went up 9.5 percent from a year ago to 10.65 trillion yuan at the end of last month.

Newly added social financing, a measurement of funds that individuals and non-financial firms receive from the financial system, came in at 3.12 trillion yuan in August, up from 528.2 billion yuan in July and 631.6 billion yuan more than the same period last year.

Monday#39;s data offers further proof that China#39;s economic operation remains in a reasonable range, and with the effects of supportive policies gradually filtering through, financing demand of the real economy was enhanced, leading to the strong growth of August#39;s financial data, experts said, adding that the central bank might further cut the reserve requirement ratio in the last quarter of the year, and enhance the use of structural and policy-based financial instruments to spur investment and boost consumption.

8月金融数据超季节性反弹。

央行9月11日公布的数据显示，前8个月人民币贷款增加17.44万亿元，同比多增1.76万亿元。8月份人民币贷款增加1.36万亿元，同比多增868亿元，环比新增更是高达近1万亿。前8个月社会融资规模增量累计为25.21万亿元，比上年同期多8420亿元。8月份社会融资规模增量为3.12万亿元，比上年同期多6316亿元，环比多增约2.6万亿。较好的金融数据和外汇市场自律机制专题会议发声共同提振了人民币汇率。

专家表示，在8月份政策性降息落地、稳增长政策持续发力背景下，当月新增信贷、社融大幅反弹，而且都出现同比多增，显示当前宽信用进程再度提速，这将为接下来经济复苏动能转强积蓄力量。展望未来，政策面将继续支持宽信用进程，9月份新增信贷、社融规模有望进一步扩大，同比也都将实现多增。

央行数据显示，8月份人民币贷款增加1.36万亿元，同比多增868亿元。分部门看，住户贷款增加3922亿元，其中，短期贷款增加2320亿元，中长期贷款增加1602亿元；企业单位贷款增加9488亿元，其中，短期贷款减少401亿元，中长期贷款增加6444亿元，票据融资增加3472亿元；非银行业金融机构贷款减少358亿元。

分析认为，8月份新增人民币贷款较上月大幅增加超过1万亿元，明显强于季节规律，且在去年8月已经达到历史同期峰值的基础上，同比仍多增868亿元，实属不易。这既有政策支持的因素,也显示市场预期和市场情绪已经出现好转。

8月份，社会融资规模增量为3.12万亿元，比上年同期多6316亿元。其中，对实体经济发放的人民币贷款增加1.34万亿元，同比少增102亿元；对实体经济发放的外币贷款折合人民币减少201亿元，同比少减625亿元；委托贷款增加97亿元，同比少增1658亿元；信托贷款减少221亿元，同比少减251亿元；未贴现的银行承兑汇票增加1129亿元，同比少增2357亿元；企业债券净融资2698亿元，同比多1186亿元；政府债券净融资1.18万亿元，同比多8714亿元；非金融企业境内股票融资1036亿元，同比少215亿元。

分析称，社融数据超季节性反弹，主要受地方政府债券发行加快和债券市场融资回暖带动。8月份实体经济发放贷款持稳，同时，国内积极财政推动地方政府债券加快发行节奏，以支持重点项目加快落地见效、增强有效投资，债券净融资同比明显多增。

另外，8月末，M2余额286.93万亿元，同比增长10.6%，增速分别比上月末和上年同期低0.1个和1.6个百分点，下行幅度明显收敛。狭义货币余额67.96万亿元，同比增长2.2%，增速分别比上月末和上年同期低0.1个和3.9个百分点。流通中货币(M0)余额10.65万亿元，同比增长9.5%。当月净投放现金386亿元。

Moving on to regional highlights

区域观察

• China’s capital city took another step to bolster the ailing housing market by easing price controls on pre-owned homes that were introduced to rein in the once white-hot market. Authorities in Beijing’s Haidian district, known for its prestigious schools, scrapped guidelines on the price range for pre-owned homes, affecting properties in 29 neighborhoods, media reported today citing multiple sources.

  北京海淀区放松二手房指导价:9月12日，有媒体报道称，北京二手房指导价限制自9月8日起取消，目前海淀区29个热点学区超出指导价的房源已可展示，而此前这些房源均不能挂牌。对此，媒体向多位北京房产中介门店人士求证，得到的回复均是海淀区29个试点小区二手房指导价确实取消了，单价18万以下的房源现在都能展示。

• Agreements on 638 projects were inked during the 23rd China International Fair for Investment and Trade , which concluded on Monday in Xiamen, east China#39;s Fujian Province. The deals involved a total investment of 484.57 billion yuan, a five-year high, preliminary data showed on Monday.

  投洽会签约638个项目:第二十三届中国国际投资贸易洽谈会于11日在福建厦门落幕。据投洽会组委会初步统计，638个项目在大会期间达成合作协议，计划总投资额4845.7亿元，参会机构数量和协议总投资额均创下5年来新高。

Next on industry and company news

产业及公司新闻

• 2023年中国民营企业500强出炉:9月12日，全国工商联发布“2023中国民营企业500强”榜单和《2023中国民营企业500强调研分析报告》。京东集团、阿里巴巴有限公司、恒力集团有限公司位居榜单前三位。广东共有50家企业上榜，位列全国第四，正威国际、腾讯、万科、比亚迪分别位列第四、第六、第八和第十。而华为今年未参评。根据调研分析报告，2022年，民营企业500强入围门槛为275.78亿元，较上年增加12.11亿元。其中，2022年营业收入总额超过1000亿元(含)的企业有95家。

• Alibaba Group Holdingwill sharpen its strategic focuses on two main themes – “user first” and “AI-driven” – as the Chinese tech giant grapples with growing competition and a shifting internet landscape, new group CEO Eddie Wu Yongming said. Wu, who assumed his new role on Sunday, wrote in an internal letter sent to employees on Tuesday morning, saying that “as traditional internet models become increasingly homogeneous and face the competitive pressures of saturation, new technologies such as AI are emerging as the new engine of global business growth.” As part of its business transformation, Alibaba would strengthen its strategic investments in three areas: technology-driven internet platforms, AI-driven tech businesses and global commerce networks, Wu said.

  阿里新CEO宣布两大战略重心:12日，阿里新任CEO吴泳铭在全员信中指出，传统互联网模式严重同质化已走向存量竞争，人工智能为代表的新技术正成为全球商业发展的新动能。为此，吴泳铭指出，阿里巴巴将根据用户为先和AI驱动这两大战略重心，重新塑造业务战略的优先级。基于这两个重点，阿里巴巴将加大对三类业务的战略性投入:技术驱动的互联网平台业务，AI驱动的科技业务，以及全球化的商业网络。

• AITO, a brand co-developed by Huawei and Seres, launched the new M7 SUV on Tuesday, which boasts a slew of cutting-edge technological features. Yu Chengdong, head of Huawei#39;s smart vehicle solution business unit, said the expense on the new model exceeded 500 million yuan. The model, available in five variants, sports Huawei#39;s ADS 2.0 system, which enables high-level autonomous driving in both urban areas and on expressways without reliance on high-definition maps. The outstanding performance is attributed also to the combination of 27 sensors, including one piece of rooftop lidar and 11 high-definition cameras. The new M7 also features the Harmony operating system, which enables a smooth connection with the Huawei mobile phones.

  问界新M7正式上市:“我们在AITO问界新M7系列上重金投入5个亿，用了扎实的材料、最好的技术。”9月12日，华为终端BG CEO、智能汽车解决方案BU CEO余承东宣布AITO问界新M7系列正式上市，售价24.98万-32.98万元。问界新M7搭载了HUAWEI ADS 2.0高阶智能驾驶系统，实现了不依赖于高精地图的高速、城区高阶智能驾驶。此外，问界新M7配备1个顶置激光雷达、3个毫米波雷达、11个高清视觉感知摄像头及12个超声波雷达等27个感知硬件，配合高性能计算平台和华为自研拟人化算法，实现了对动静态目标的感知。余承东还表示，通过鸿蒙系统，华为将手机所有的应用都流转到了汽车上面。

• Prices of domestic flight tickets during this year’s National Day holiday, which spans from the Mid-autumn Festival on Sept.29 until Oct.6, jumped 13 percent on average as of Tuesday, according to online travel and ticketing platform Tongcheng. Beijing, Xi’an, Chengdu, Chongqing, Shanghai, Changsha, Guangzhou, Nanjing, Hangzhou and Wuhan rank as the most popular destinations for domestic tourists. Meanwhile, searches of long-distance locations such as Xinjiang and Xizang surged over 3-folds compared to the same period last year, the data showed.

  中秋国庆假期机票均价较“五一”假期上涨13%:9月12日，同程旅行发布的数据显示，截至当日，中秋国庆假期出行的机票均价较“五一”假期上涨13%。北京、西安、成都、重庆、上海、长沙、广州、南京、杭州、武汉是中秋国庆假期热度最高的国内旅游目的地城市。此外，中秋国庆假期出行的长线游市场增长迅速，其中新疆、西藏、青海、宁夏、黑龙江等以长线游为主的省份相关旅游产品热度同比涨幅均超过300%。

• Chinese makeup and beauty influencer Li Jiaqi, known as the quot;King of Lipstick,quot; sobbed while apologizing again on Monday evening, after his quot;inappropriate remarksquot; made against a viewer who complained that a home-made eyebrow pencil was quot;too expensive”a day before triggered heated discussions. Li said during the livestream that the price has remained unchanged over the years, and that “people need to find the reasons why they haven#39;t received a pay rise after working so many years”. As of Tuesday morning, more than 1 millionfans had stopped following Li on Weibo, as his total number of fans dropped from 30.43 million to 29.27 million.

  李佳琦眉笔风波后掉粉100万:9月11日晚，“口红一哥”李佳琦再次现身直播间落泪道歉。10日，李佳琦在直播间介绍一款79元的某品牌眉笔，看到弹幕说该品牌越来越贵了，他当即不悦地反驳:“哪里贵了？这么多年都是这个价格。”“有的时候找找自己的原因，这么多年了工资涨没涨，有没有认真工作？”言论一出引来网友热议。受眉笔风波影响，李佳琦Austin 微博粉丝大量流失，从3043.5万掉至2947.7万，一天之间近100万粉丝取消关注。

Wrapping up with a quick look at the stock market

股市收盘情况

• Chinese stocks edged lower on Tuesday as the benchmark Shanghai Composite slid 0.2 percent and the Shenzhen Component skid 0.1 percent. Hong Kong’s Hang Seng index also lost 0.4 percent, and the TECH index fell 0.5 percent.

  A股港股收跌:周二A股A股三大指数集体收跌，截至收盘，沪指跌0.18%，深成指跌0.08%，创业板指跌0.59%。沪深两市全天成交额7083亿元。两市超2900只个股下跌，北向资金净卖出19.8亿元。港股恒指收跌0.39%，恒生科技指数跌0.47%。

Biz Word of the Day

财经词汇划重点

• Anadvanced driver-assistance system includes technologies that assist drivers with the safe operation of a vehicle. Through a human-machine interface, ADAS increases car and road safety. ADAS uses automated technology, such as sensors and cameras, to detect nearby obstacles or driver errors, and respond accordingly.

  高级驾驶辅助系统是利用安装在车上的各式各样传感器，在汽车行驶过程中随时来感应周围的环境，收集数据，进行静态、动态物体的辨识、侦测与追踪，并结合导航地图数据，进行系统的运算与分析，从而预先让驾驶者察觉到可能发生的危险，有效增加汽车驾驶的舒适性和安全性。

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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