Hi everyone. I’m Stephanie LI.

【资料图】

大家好，我是主持人李莹亮。

Coming up on today’s program.

重点提要

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

中国经济要闻

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，国家发改委新闻发言人孟玮在新闻发布会上，就一季度经济运行亮点，下阶段稳消费、稳外资举措等热点问题作出回应。

孟玮表示，总体上看，一季度我国经济发展实现了良好开局。在全球经济增速明显放缓、主要经济体通胀居高难下的背景下，我们扎扎实实做好自己的事，实现了经济较快回升，国内生产总值同比增长4.5%，增速比上年四季度提高了1.6个百分点，为完成全年经济社会发展目标任务打下了坚实基础。

“开年以来，很多人都感受到，人流物流更加活跃了，餐饮旅游快速恢复了，项目建设明显提速了，招商引资也加大了力度，经济运行整体好转的积极因素不断增多。”孟玮指出，一季度我国经济发展实现良好开局，从具体运行特点来看，可以用三句话概括：需求扩大、供给恢复、预期改善。

国家统计局数据显示，一季度社会消费品零售总额增长5.8%，比上年四季度加快8.5个百分点。固定资产投资增长5.1%，其中，基础设施、制造业投资分别增长8.8%、7.0%。出口增速回升，以人民币计价货物进出口额增长4.8%。

孟玮指出，下一步，发改委将在深入调查研究基础上，扎实做好经济运行监测、形势分析和对策研究，适时出台务实管用的政策举措，巩固拓展向好势头，推动经济运行持续整体好转。

具体到稳消费、促消费来看，孟玮表示，发改委当前正在抓紧研究起草关于恢复和扩大消费的政策文件，主要是围绕稳定大宗消费、提升服务消费、拓展农村消费等重点领域，根据不同收入群体、不同消费品类的需求制定有针对性的政策举措，推动消费平稳增长。

汽车是支撑消费的“大头”，孟玮表示，发改委将下大力气稳住，“我们将加快推进充电桩和城市停车设施建设，大力推动新能源汽车下乡，鼓励汽车企业开发更适宜县乡村地区使用的车型。同时，加快实施公共领域车辆全面电动化先行区试点。”

此外，孟玮表示，发改委将研究合理缩减外资准入负面清单。目前，正在评估过去几年外资准入负面清单的实施效果，深入了解地方和外资企业在扩大外资市场准入方面的诉求，研究进一步扩大开放的政策措施。落实落细已出台政策，引导外资更多投向先进制造业、现代服务业、高新技术、节能环保等重点领域和中西部、东北等重点地区。

Highlight of the 133rd Canton Fair

广交会，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.

广交会D区展馆科技感十足：与往届相比，此次广交会的一个亮点是面对市场新需求，为新能源汽车、智能制造等新兴产业开设专门展区，增加工业自动化和智能制造、新能源及智能网联汽车、智慧生活、孕婴童用品、“银发经济”、检测和防护用品等新的展览题材。本次广交会正式启用新落成的D区展馆，聚集了新能源及智能网联汽车、通用机械及机械基础件等展区，首度登场即吸引了无数采购商前往，人气爆棚。D区展馆不仅工业氛围浓厚，而且科技感十足，带有“绿色元素”的新能源产品也为展馆增添了不少亮点。例如，广州企业亿航智能带来的三款机型，针对不同的应用场景，都具有无人驾驶、全备份安全性设计、智能指挥调度中心集群管理等技术优势。

Moving on to regional highlights

区域观察

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上海车展电动车占领C位：4月18－27日，2023第二十届上海国际汽车工业展览会将在国家会展中心（上海）举行。本届车展共吸引了1000余家企业积极参展，展出总面积超过36万平方米，将有百余款全球首发车亮相。2023上海车展是今年全球第一个A级车展，包括大众、奥迪、奔驰、宝马、标致雪铁龙等在内的十余家跨国车企全球CEO越海而来，国内主要车企的高层也悉数抵沪。

国产厂商中，包括仰望、埃安、智己、岚图、极氪、阿维塔、猛士、深蓝汽车、魏牌等多家自主高端新能源品牌将悉数登场。作为比亚迪打造的百万元级新能源硬派越野SUV仰望U8以及纯电动超跑U9，均将在本届上海车展亮相；腾势品牌则将带来纯电中型SUV腾势N7，挑战奥迪Q5、宝马X3、奔驰GLC等BBA的拳头产品；领克08、吉利银河L7、极氪X组成的吉利新能源新品阵容，也将集体亮相；奇瑞则将带来星途旗下首款高端智能纯电动轿车E03。全新蔚来ES6将在本届上海车展完成首秀，小鹏汽车将带来第二款轿跑SUV小鹏G6。

而以BBA为代表的德系豪华品牌都将在车展上展现强大的电动产品阵容，展现转型决心。梅赛德斯-奔驰将携1款全球首秀、5款中国首秀等共27款重磅车型亮相；奥迪基于PPE豪华纯电动平台打造的奥迪A6 Avant e-tron概念车和奥迪urbansphere概念车，将在上海车展完成国内首秀；宝马创新纯电动BMW i7 M70L和创新BMW XM Label Red限量版全球首发，而全新BMW M760Le则将迎来中国首秀。丰田bZ系列此前在国内销量欠佳，采用比亚迪核心三电技术的一汽bZ3是其强化产品阵容、开辟在华电动转型新思路的重要车型。本田方面，象征着Honda e:N品牌第二款产品的e:N2量产版将迎来全球首发。

Greater Bay Area, Greater future

新使命，大未来

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.

广东集成电路基金二期启动：18日举行的第25届集成电路制造年会上，粤财控股董事长金圣宏表示，广东半导体及集成电路产业投资基金二期在筹划中，规模300亿元，基金期限长达17年，母基金可直投，子基金包括汽车芯片、半导体材料设备、化合物半导体等主题基金，且二期基金在投资退出后可向被投企业让利60%。此前，广东省集成电路基金一期于2020年成立，规模为200亿元。当前，广东正在培育20个战略性的产业集群，在集成电路产业集群中，目前广东省在模拟高端、化合物半导体、MENS传感器等特色工艺方面布局了一批重大的产线项目。根据公开信息统计，在今年公布的广东省2023年重点建设项目计划中，半导体产业相关的项目超50个，涵盖第三代半导体、封装测试、半导体材料、MLCC、传感器等领域，总投资逾1400亿，其中包括三个百亿级项目。

Next on industry and company news

产业及公司新闻

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.

一季度国内民航客运量恢复至疫情前九成：民航局18日介绍，一季度，民航经济运行持续恢复、逐步向好，实现了全年工作的良好开局。航空客运需求快速恢复，国内客运规模恢复至疫情前约九成。一季度，全行业共完成旅客运输量1.29亿人次，同比增长68.9%，旅客运输规模相当于2019年同期的80.0%，较2022年四季度大幅提升51.0个百分点。从航线结构看，国内航线完成1.26亿人次，同比增长66.6%，规模相当于2019年同期的88.6%；国际航线完成224.2万人次，同比增长717.0%，规模相当于2019年同期的12.4%。随着国际客运航班的持续恢复，3月份，国际航线旅客运输量已恢复至疫情前同期的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.

反不正当竞争专项行动开始：4月18日消息，据国家市场监督管理总局官网，市场监管总局近日组织开展2023年反不正当竞争“守护”专项执法行动。专项执法行动突出三个重点：一是以查处互联网不正当竞争行为为重点，严厉查处刷单炒信、网络直播虚假宣传等网络不正当竞争行为，为数字经济发展保驾护航。二是以规范民生领域营销行为为重点，加强对新型商业营销行为监管，严打医药购销、餐饮旅游等重点行业商业贿赂违法行为，提升消费信心，促进消费提质升级。三是以保护企业核心竞争力为重点，加强商业秘密、商业标识和商业信誉等保护，激发企业创新活力，促进商品和要素高效流通，推动建设全国统一大市场。

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.

胡润2023全球独角兽榜发布：4月18日，胡润研究院发布《2023全球独角兽榜》显示，全球共有1361家独角兽企业，总价值约30万亿元。其中，过去一年诞生508家新独角兽企业，中国有107家。从独角兽企业分布来看，美国666家、中国316家，世界其他国家合计379家。中国独角兽企业分布的行业，主要是人工智能、半导体和电子商务。在全球独角兽企业前十名中，总部位于中国的企业分别是字节跳动、蚂蚁集团、Shein、微众银行、菜鸟网络。

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.

理想首款纯电车型搭载宁德时代4C麒麟电池：4月18日，理想汽车在2023上海车展期间发布“双能战略”纯电解决方案，接下来理想汽车将正式进入发展新阶段，在电动化和智能化方面全面发力。根据最新方案，理想汽车将实现800V超充，充电10分钟，续航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.

天合光能拟50亿元投建新一代高效电池项目：4月18日晚间，天合光能发布公告称，公司拟在淮安经济技术开发区投资建设年产10GW新一代高效电池项目及相关配套辅助设施，项目总投资约50亿元人民币（含流动资金）。

Switching gears to financial news

金融市场消息

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.

一季度我国财政收入由负转正：财政部18日发布数据显示，一季度，全国一般公共预算收入62341亿元，同比增长0.5%，累计增幅比前2个月提高1.7个百分点，实现由负转正。财政支出方面，一季度全国一般公共预算支出同比增长6.8%。从税收收入看，一季度，全国税收收入同比下降1.4%，扣除特殊因素影响后增长2%。其中，国内增值税增长12.2%；国内消费税下降22.2%；进口货物增值税、消费税下降14.4%；企业所得税增长9.3%；个人所得税下降4.4%。从非税收入看，一季度，全国非税收入同比增长10.9%。

Wrapping up with a quick look at the stock market

股市收盘情况

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股三大指数集体收跌，截至收盘，沪指跌0.68%，深成指跌0.84%，创业板指跌0.63%。两市全天成交额10826亿元，连续第十二个交易日突破万亿。港股低开低走，恒指收跌1.37%，恒生科技指数重挫2.39%。

Biz Word of the Day

财经词汇划重点

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.

集成电路，或称芯片，是采用半导体制作工艺，在一块较小的单晶硅片上制作上许多晶体管及电阻器、电容器等元器件，并按照多层布线或遂道布线的方法将元器件组合成完整的电子电路。

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

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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