CBN丨Chinese fund managers put 850 million yuan in own funds

　　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

　　Chinese money managers pledge to pump 850 million yuan into own products in show of confidence;

　　Xiamen international investment fair prepares to welcome representatives from 100 countries and regions.

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

　　中国经济要闻

　　China’s largest mutual fund houses promised to buy their own equity-focused products to bolster market confidence, on bets the dip-buying strategy will help them ride out the uncertainty prevailing on the stock markets.

　　At least 15 firms pledged to invest in their funds as of mid-Monday, taking the total tally to 950 million yuan.

　　Mutual fund firms including E Fund Management, China Asset Management and Harvest Fund Management are among the 11 fund managers promising to invest 50 million yuan.

　　The asset management Guotai Junan said it will use its own capital of 200 million yuan to invest in its equity fund products, citing its principle to bear market risks with investors. Citic Securities followed with 100 million yuan in similar plans.

　　Most firms added that the reason for self-purchase was "based on the confidence in the long term healthy and stable development of China's capital market.”

　　The planned purchases came on the heels of renewed vows from the securities watchdog on Friday to boost markets. A rout in Chinese stocks has extended despite a string of recent measures, which included authorities asking some investment funds to avoid net selling equities and encouraging companies listed on the tech-heavy STAR Board to buy back shares.

　　Also, more than a dozen major mutual fund firms in China cut fees for roughly 1,500 products last month, as regulators started reforming fee practices in an effort to reduce costs to investors.

　　Some 60 mutual fund firms have spent more than 2.5 billion yuan buying their own funds in the first seven months this year, according to data compiled by state media.

　　十数家基金、券商正密集自购，“真金白银”提振市场信心。

　　8月21日，华夏基金公告称，将用5000万元资金投资旗下公募基金。随后，易方达、广发、南方、富国、鹏华、招商、嘉实、汇添富、中欧、华商基金等公募巨头纷纷发布自购公告。

　　同时，国泰君安、中信证券、招商资管等券商或券商资管公司也表示将于近期使用固有资金投资旗下产品。

　　据统计，目前共有15家公司发布自购公告，合计自购金额达到9.5亿元。其中，11家公募分别运用固有资金合计5000万元投资旗下权益型基金。华商基金运用固有资金合计8000万元投资旗下股票型、混合型公募基金；中信证券运用自有资金合计1亿元投资旗下权益类和混合类集合资产管理计划；上海国泰君安证券资产管理有限公司将于近日运用固有资金合计2亿元人民币投资旗下权益类公募基金；招商证券资管也将于近期使用自有资金申购旗下参公运作集合计划，拟申购金额合计2000万元。

　　此前，8月18日，证监会有关负责人就“活跃资本市场，提振投资者信心”答记者问，从投资端、融资端、交易端等方面入手，明确了活跃资本市场、提振投资者信心的一揽子政策措施。其中包括要加快投资端改革，大力发展权益类基金，引导公募基金管理人加大自购旗下权益类基金力度。

　　业内人士认为，公募基金自购是一种与投资者利益共享、风险共担的行为，有利于保护投资者利益。自购一方面可以稳定投资者信心，减少因恐慌情绪导致的非理性行为，另一方面，逢低买入表明对股市后续走势的信心。

　　Moving on to regional highlights

　　区域观察

　　The 23rd China International Fair for Investment and Trade is scheduled to run from September 8 to 11 in Xiamen, East China's Fujian province. Chen Chunjiang, assistant minister of commerce, said Brazil, Serbia, and Qatar will be the guests of honor for the upcoming fair this year, the highest number of guest countries in a single edition. Currently, nearly 40 senior foreign government officials have confirmed their attendance. Several international organizations including the United Nations Conference on Trade and Development and the United Nations Industrial Development Organization will participate as well. The fair's organizers anticipate that representatives from nearly 100 countries and regions, 1,000 trade and business delegations, and about 80,000 participants will take part in the grand event.

　　第23届投洽会9月厦门召开：8月22日，国务院新闻办举行第二十三届中国国际投资贸易洽谈会新闻发布会。商务部部长助理陈春江在会上表示，第二十三届投洽会将于今年9月8日至11日在福建厦门召开。陈春江介绍，本届投洽会有三个国家担任主宾国，分别为巴西、塞尔维亚、卡塔尔，是主宾国最多的一届。目前，已有近40位副部级以上的外国政府官员确认出席，预计有近100个国家和地区、近1000个客商团组、约8万名客商参加展会。联合国贸发会议、联合国工发组织、世界投资促进机构协会、联合国国际贸易中心等多个国际组织将参会，较往届在数量和参与程度上均有提升。

　　Shanghai has issued new policies to further support the development of Lingang Special Area on the fourth anniversary of the special economic area being set up in the city’s free trade zone. The new policies comprise 29 measures across six fields, the Shanghai government said at a press conference, with the aim of consolidating Lingang’s special functions, creating a more attractive environment for talent, boosting the supply of funding and land, promoting the clustering and development of cutting-edge industries, supporting the innovative development of trade in services, and improving its urban service function.

　　上海支持临港新片区深化拓展特殊经济功能：8月21日，上海市政府介绍临港新片区四周年发展成就及下一步总体考虑等有关情况，并发布《关于支持中国（上海）自由贸易试验区临港新片区深化拓展特殊经济功能走在高质量发展前列的若干意见》。据悉，新一轮支持政策主要聚焦“特殊”“经济”“功能”三个关键词，共6个方面29项任务举措，包括强化临港新片区特殊功能定位，打造更具吸引力的人才发展环境，加大财政资金、土地等要素供给支持力度，推动科技创新前沿产业集聚发展，支持服务贸易创新发展和提升城市服务功能。

　　Zhejiang became the fifth provincial-level region in the country to boast more than 10 million registered companies this month. Zhejiang, which only ranks eighth in the country in terms of population size, has 9.67 million private companies and around 330,000 state-owned ones, according to the latest government data. Guangdong ranked first with 17.2 million registered businesses, accounting for one-tenth of the national total. It is followed by Jiangsu, Shandong and Henan provinces.

　　浙江每7个人就有一个老板：作为民营经济最发达的省份之一，浙江全省1000万户市场经营主体中，民营经营主体达967万户，占比96.69%。最新数据显示，在浙江，每7个人当中就有1个是老板。包括浙江在内，目前已有5个省份市场主体数量突破了1000万户大关。目前广东市场经营主体已达到1725万户，占全国的1/10。广东经营主体数、企业数、外商投资企业数连续多年稳居全国第一。广东之后，江苏和山东的市场主体数量均超过1400万户。此外河南的市场主体数量也突破了千万户大关。

　　The Chinese city of Yiwu is vigorously developing its photovoltaic industry thanks to firm government support, with five of the world’s top 10 solar companies by shipments setting up production hubs in the global capital of small commodities, media reported Monday. The output of PV firms above a designated size in Yiwu, Zhejiang province, totaled 87.2 billion yuan last year. The city now has the capacity to produce 35 gigawatts of solar cells and panels, accounting for nearly 20 percent of the global market.

　　五大光伏光电企业巨头落户义乌：媒体21日报道，晶科能源、晶澳科技、天合光能、东方日升等多家世界级光伏光电企业已经陆续落户义乌，全球光伏组件出货量排名前10的企业中，已有5家在义乌设有生产基地。截至2022年，义乌市光伏产业规上产值已达872.30亿元，占整个浙江省光伏产业产值的30%以上，已投产的光伏电池片和电池组件产能更是达到35GW，占据了全球市场份额近20%。

　　A total of 29 major culture and tourism projects with a combined investment of 14.35 billion yuan were inked at a cultural industries expo held in Xi'an, capital of northwest China's Shaanxi Province, organizers have said. The 10th West China Culture Industries Expo and 2023 Xi'an Silk Road International Tourism Expo concluded on Sunday, reporting onsite cultural and tourism product sales of over 60 million yuan.

　　西部文博会意向签约逾143亿元：8月20日，第十届中国西部文化产业博览会和2023西安丝绸之路国际旅游博览会在西安圆满落幕。据统计，此届博览会现场交易额达6000余万元，签约29个重点文旅项目，意向金额达143.48亿元。本届博览会以“激发产业新动能 书写协作新篇章”为主题，为期4天，共吸引700余家文化旅游企业、9800余名展商参展，累计15万人次走进展馆观展，现场交易额达6000余万元。

　　Greater Bay Area, Greater future

　　新使命，大未来

　　Cathay Pacific Airways said it plans to recruit more pilots and flight attendants from the Chinese mainland, as it aims to further strengthen its connections with the mainland and meet growing travel demand. In July, the largest carrier in Hong Kong began hiring about 200 to 300 flight attendants from the Chinese mainland for the first time. So far, more than 2,000 candidates have filed applications. Starting next year, the carrier plans to hire about 400 to 500 flight attendants annually and at least 800 cadet pilots from the mainland before 2025 to further improve its services.

　　国泰航空大规模招聘内地空乘：国泰航空集团日前公布，2023年7月集团旗下的国泰航空及香港快运整体载客人数突破200万人次，创疫情后新高。为了更好地服务内地市场，国泰航空已于7月6日开始首次在中国内地招聘驻港空中乘务员，今年计划招聘200至300名内地空乘和800名内地见习飞行员，目前国泰航空已经收到超过2000份申请。据透露，接下来两年国泰每年会招聘400至500名内地乘务员，未来内地将成为香港以外国泰航空最大的乘务员来源地。

　　A new air cargo route was launched on Sunday linking South China's Shenzhen with Port Moresby, capital of Papua New Guinea, said SF Airlines, China's largest air cargo carrier in fleet size. The Shenzhen-Port Moresby route is SF Airlines' first cargo route reaching Oceania, expanding its global air-cargo-service network that has covered Asia, Europe and North America, the company said.

　　顺丰航空开通首条大洋洲航线：8月20日，顺丰航空采用B747-400 型全货机开通深圳-莫尔兹比港国际货运航线。巴布亚新几内亚地处大洋洲，“深圳-莫尔兹比港”航线是顺丰航空开通的首条大洋洲航线，顺丰航空全货机航线服务范围由此实现新突破，形成辐射亚洲、延伸欧美、触达大洋洲的新格局。

　　Next on industry and company news

　　产业及公司新闻

　　China's railways recorded 701 million railway passenger trips from July 1 to Aug. 21, data from the China State Railway Group showed Monday. The number of passenger trips handled by railways nationwide was approximately 15.69 million last Saturday, a record daily high for the summer travel rush. During the period, 10,444 trains were operating daily, marking an increase of 15.8 percent over the same period in 2019.

　　全国铁路暑运发送旅客突破七亿人次：国铁集团21日消息，全国铁路暑运客流持续保持高位运行，7月1日至8月21日，已累计发送旅客7.01亿人次，其中，8月19日发送旅客1568.6万人次，再次刷新暑运单日旅客发送量历史新高。全国铁路日均开行旅客列车达10444列，较2019年同期增长15.8%。

　　The US has agreed to add six more flights operated by Chinese airlines, effective September 1, according to the US Department of Transportation on Monday. The carriers are Air China, China Eastern Airlines and China Southern Airlines, mainly heading for Los Angeles and New York. The routes include Beijing to Los Angeles and Beijing to New York operated by Air China, flying once a week. China Eastern will fly from Shanghai to Los Angeles, and China Southern's flight from Guangzhou to Los Angeles, both operating twice per week.

　　美国批准中国航司增加6个中美航班：当地时间8月21日，美国交通部正式批准中方航司的6个增班，自9月1日起开始执行。分别是国航的每周一班北京-洛杉矶和一班北京-纽约；东航的每周两班上海-洛杉矶；南航的每周两班广州-洛杉矶。至此，9月1日后中方航司将可以每周执行最多18个中美直航航班，其中到洛杉矶的航班量最多。

　　China's smartphone brand Huawei led the country's foldable smartphone market in the first half of this year, according to a report released by research and consulting company CINNO Research on Monday, outweighing Samsung with a market share of 50 percent. In terms of sales, Huawei also took a leading role on China Market Foldable Smartphone Brand Sales Ranking due to the excellent performance of Huawei's latest product Mate X3. Sales of foldable screen mobile phones in the Chinese market increased by 72 percent year-on-year in the first half, the data showed.

　　华为持续领跑国内智能机市场：8月21日，CINNO Research报告显示，2023年上半年中国市场折叠屏手机销量同比增长72%。得益于Mate X3的优异表现，华为稳居市场份额第一，在万元以上超高端折叠屏市场占据半壁江山，取得50%的市场份额。该机构表示，从2019年华为Mate X进入折叠屏市场，到华为Mate Xs 2开启折叠屏轻薄时代，再到华为Mate X3引领折叠屏进入轻薄权能时代，华为依托超强的研发力量，销量和口碑都具有领先优势。

　　The China Consumers Association (CCA) on Monday said that it will carry out supervision on online car-hailing aggregation platforms. The association will clarify the responsibility held by car-hailing platforms and strengthen consumer rights protection from the supply side, regulating business behavior, maintaining fair competition market order, effectively maintaining industry safety and stability as well as protecting the legitimate rights and interests of passengers and drivers. In addition, the CCA clarified that online car-hailing aggregation platforms and partner companies need to implement network security precautions, strict data security protection and management.

　　中消协出手开展网约车聚合平台监督：针对网约车聚合平台服务，中国消费者协会8月21日表示，将围绕交通运输部等5部门联合发布的《关于切实做好网约车聚合平台规范管理有关工作的通知》开展社会监督。中消协明确网约车聚合平台督促合作网约车平台合理、有效落实核验责任，保障消费者安全权。中消协还提出维护公平竞争市场秩序，网约车聚合平台及合作网约车平台公司应尊重消费者的公平交易权，以及网约车聚合平台及合作网约车平台公司需落实网络安全防范措施，严格数据安全保护和管理。

　　Innovation New Material Technology, China’s biggest producer of aluminum alloy bars, said it plans to invest USD197 million to build a plant in Mexico. Its Hong Kong subsidiaries Drayton Management and Gloucester Management will set up a project company in Mexico responsible for the investment, construction, and operation of the new plant, the company announced yesterday.

　　创新新材1.97亿美元投建墨西哥项目：创新新材8月21日公告，公司计划在墨西哥开展汽车轻量化铝合金材料等项目。该项目由公司100%控股的香港子公司Drayton Management Limited以及全资孙公司Gloucester Management Limited在墨西哥共同设立的2家公司负责实施，项目投资总额1.97亿美元，折合人民币14.05亿元。

　　Earnings reports express

　　财报速递

　　China’s Tongwei Group said yesterday profit rose 8.6 percent in the first half from a year earlier despite tumbling polysilicon material prices. Interim net profit was 13.3 billion yuan, while revenue jumped 23 percent to 74.1 billion yuan, with 80 percent coming from its photovoltaic business. Tongwei’s first-half earnings were better than those of its main rivals as their net profits fell on the sharp drop in main product prices, with Xinjiang Daqo New Energy reporting a 54 percent decline from a year ago, while Xinte Energy's net profit fell 15.3 percent. In a separate announcement yesterday, the world’s largest producer of solar silicon also revealed plans to build two new plants to make high-efficiency solar batteries in Leshan, Sichuan province, at a cost of 20 billion yuan. Each will have an annual capacity of 16 GW and make various products.

　　通威上半年净利润稳住增长势头：8月21日晚间，通威股份发布的半年报显示，今年上半年，该公司实现营业收入740.68亿元，同比增长22.75%；实现归属于上市公司股东的净利润132.70亿元，同比增长8.56%。今年以来，由于硅料价格持续大跌，硅料企业的红利期渐远。此前，头部硅料企业大全能源和新特能源发布的半年报显示，上半年净利润无一例外同比下滑。在披露半年报的同时，通威公司同日公告大扩产，宣布拟在乐山市、峨眉山市投资建设16GW电池片项目，项目预计投资金额共约200亿元。

　　Switching gears to financial news

　　金融市场消息

　　China's fiscal revenues grew by 11.5 percent year-on-year to 13.93 trillion yuan in the first seven months, the Ministry of Finance said on Monday. Meanwhile, fiscal spending over the period totaled 15.16 trillion yuan, up by 3.3 percent. Among the fiscal revenue, tax revenue totaled 11.75 trillion yuan, up 14.5 percent year-on-year, with domestic value-added tax (VAT) growing by 84.2 percent to about 4.36 trillion yuan. Non-tax revenue dropped 2.3 percent from a year ago to 2.18 trillion yuan. The ministry also said stamp duties collected during the January-July period declined by 8.3 percent to 267.9 billion yuan. In particular, stamp duties on securities trading totaled 128 billion yuan over the period, slumping 30.7 percent.

　　1-7月全国公共预算收入同比增长11.5%：财政部网站8月21日公布2023年7月财政收支情况。1-7月累计，全国一般公共预算收入139334亿元，同比增长11.5%。其中，税收收入117531亿元，同比增长14.5%；非税收入21803亿元，同比下降2.3%。其中，印花税2679亿元，同比下降8.3%。其中，证券交易印花税1280亿元，同比下降30.7%。1-7月累计全国一般公共预算支出151623亿元，同比增长3.3%。

　　Wrapping up with a quick look at the stock market

　　股市收盘情况

　　Chinese stocks bounced on a tech rally on Tuesday, with the benchmark Shanghai Composite ending up 0.9 percent, and the Shenzhen Component ticked up 0.5 percent. Hong Kong’s Hang Seng index rose 1 percent to snap seven straight losses, while the TECH index jumped 2 percent.

　　A股午后反弹港股转涨：周二A股大盘早盘高开回落，午后迎来V型反弹，沪指领涨。截至收盘，沪指涨0.88%，深成指涨0.53%，创业板指涨0.09%。沪深两市全天成交额8183亿元，较上个交易日放量1401亿。北向资金全天净卖出63.78亿元，连续12日净卖出。港股终止七连跌，恒生指数收涨0.95%，恒生科技指数收涨1.98%。

　　Biz Word of the Day

　　财经词汇划重点

　　The China International Fair for Investment and Trade (CIFIT), approved by the State Council of the People’s Republic of China, takes place on September every year in Xiamen, China. Themed on “Introducing FDI” and “Going Global”, CIFIT features a focus upon nationality and internationality, upon investment negotiation and investment policy promotion, upon coordinated development of national and regional economy, and upon economic and trade exchanges across the Taiwan Strait. CIFIT is currently China’s only international investment promotion event aimed at facilitating bilateral investment. It’s also the largest global investment event approved by UFI.

　　中国国际投资贸易洽谈会（简称“投洽会”）是商务部主办的国家级重点展会之一，每年9月8日至11日在中国厦门举办，以“引进来”和“走出去”为主题。二十多年来，投洽会致力于打造双向投资促进、权威信息发布和投资趋势研讨三大平台，已发展成全球最具影响力的国际投资盛会之一，为中国改革开放和社会主义现代化建设作出了积极贡献。2005年3月，投洽会正式通过了全球展览业协会（UFI）的认证，成为全球唯一经UFI认证的投资促进类展览会。

　　Executive Editor: Sonia YU

　　Editor: LI Yanxia

　　Host: Stephanie LI

　　Writer: Stephanie LI

　　Sound Editor: HUANG Qingyi

　　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，实习生黄青衣

　　音频制作：黄青衣

　　设计：郑文静、廖苑妮

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