CBN丨China's foreign trade up 16.6% in July, bucking slowdown fears

Hi everyone. I’m Stephanie LI.

大家好，我是主持人李莹亮。

重点提要 

-China’s foreign trade expanded 16.6% in July, while forex reserves also rose on accelerating exports;

-Hainan’s Sanya was put under “static management” amid Covid outbreak, stranding more than 80,000 tourists.

中国经济要闻

China's foreign trade maintained double-digit growth in July at 16.6 percent year-on-year, official data showed on Sunday, underscoring the resilience of China's giant export machine and bucking market fears of a slowdown due to cooling global consumer demand amid high inflation as well as growing geopolitical uncertainties.

According to data released by the General Administration of Customs (GAC) on Sunday, the country's foreign trade totalled 3.81 trillion yuan ($563.5 billion) in July, an increase of 16.6 percent on a yearly basis.

In the first seven months, the country's foreign trade volume reached 23.6 trillion yuan, an increase of 10.4 percent year-on-year, faster than the growth rate of 9.4 percent seen in the first half of the year, according to the GAC.

Between January and July, China's trade with its top three trading partners - ASEAN, the EU, and the US - grew 13.2 percent, 8.9 percent, and 11.8 percent year-on-year, respectively. Trade with Belt and Road partners jumped 19.8 percent year-on-year, while that with the 14 Regional Comprehensive Economic Partnership (RCEP) economies was up 7.5 percent from January to July, according to the GAC.

The better-than-expected data reflects that the pent-up growth momentum is being released throughout the year after the fallout of the COVID-19 resurgence in spring was overcome, experts said.

Meanwhile, China's foreign exchange reserves rose to $3.104 trillion at the end of July to remain above a commonly accepted benchmark of $3 trillion, up $32.8 billion from a month earlier, official data showed Sunday. The amount jumped 1.07 percent from the end of June, according to the State Administration of Foreign Exchange (SAFE).

In response to the latest changes in foreign exchange reserves, Wang Chunying, deputy head of the SAFE, suggested that China's foreign exchange market has remained stable as domestic supply and demand keep in balance, noting that changes in global exchange rates and assets prices have helped the country's foreign exchange reserves to grow.

Although the external environment is becoming more complex and severe and the volatility of the international financial market has increased, Wang said the overall stability of China's forex reserves would be supported by the country's economic resilience and sound economic fundamentals.

我国7月当月进出口同比增长16.6%，延续了5月份以来外贸增速持续回升态势，为稳定宏观经济大盘作出积极贡献。

海关总署8月7日公布的数据显示，7月，我国进出口总值达到3.81万亿元，同比增长16.6%，比6月加快了2.3个百分点。前7个月，我国外贸进出口总值23.6万亿元，同比增长10.4%。其中，出口13.37万亿元，同比增长14.7%；进口10.23万亿元，同比增长5.3%。

今年以来，我国高效统筹疫情防控和经济社会发展，外贸进出口克服外部环境趋紧、疫情短期冲击等诸多不利影响，前7个月累计增速达到两位数。

海关统计显示，前7个月我国外贸结构持续优化，一般贸易进出口15.17万亿元，同比增长14.5%。我国对东盟、欧盟、美国分别进出口3.53万亿元、3.23万亿元和2.93万亿元，同比分别增长13.2%、8.9%和11.8%。东盟继续为我国第一大贸易伙伴，占我国外贸总值的15%。

RCEP贸易伙伴对我国外贸的拉动作用明显。前7个月，我国与“一带一路”沿线国家的进出口同比增长19.8%，与RCEP其他14个成员国的进出口同比增长7.5%。

同日，国家外汇管理局发布7月末外汇数据显示。截至2022年7月末，我国外汇储备规模为31041亿美元，较6月末上升328亿美元，升幅为1.07%。

7月外汇储备规模回升，受汇率因素和资产价格变化因素综合作用。国家外汇管理局副局长、新闻发言人王春英表示，国际金融市场上，受主要国家货币政策、经济增长前景及通胀预期等因素影响，美元指数上涨，全球主要金融资产价格总体上涨。在汇率折算和资产价格变化等因素综合作用下，当月外汇储备规模上升。

王春英表示，当前全球经济形势充满挑战，不稳定不确定因素明显增加，国际金融市场波动性较大。但我国经济韧性强、潜力大、活力足，长期向好的基本面不会改变，将继续支持外汇储备规模保持总体稳定。

区域观察

Zhengzhou has announced a real estate fund worth up to 10 billion yuan to leverage social funds and default mortgage risks, media reported on Sunday. This is the first Chinese city to implement a regional real estate fund after a number of Chinese homebuyers suspended loan repayments for unfinished projects since July. The source of the funds will contain two parts. The Zhengzhou National Central City Fund which operated by the Zhengzhou finance bureau will set up a bailout fund with the scale of 10 billion yuan as a parent fund. A sub-fund will be set up with 30 percent originating from the parent fund and 70 percent of the fund being raised from city and district level state-owned companies and social capital including construction enterprises, asset management companies and financial institutions.

郑州落地全国首个地产纾困基金：据河南当地媒体报道，郑州在近日出台了房地产纾困基金设立运作方案，暂定规模100亿元。这也是7月初全国烂尾楼业主断供风波以来，首个落地的地方性地产纾困基金。文件显示，纾困基金采用母子基金的方式运作，各开发区、区县（市）还要根据不同项目吸引不同类型的社会资本参与子基金的设立。从基金运用来看，盘活资金将专项用于危困房企的问题楼盘项目，重点解决部分停工停按揭月供问题。在此过程中，央企、地方国企和国有投融资公司将成为项目盘活主体。

疫情简报

China's aviation regulator has decided to relax rules on suspending overseas flights due to COVID-19. Starting from Sunday, any flight with five detected COVID-19 cases will be suspended for one week when the confirmed cases account for four percent of all those onboard, and for two weeks when the confirmed cases account for eight percent, the Civil Aviation Administration of China (CAAC) said on Sunday. 

民航局优化调整国际航班：民航局宣布于8月7日起对国际定期客运航班熔断措施进行优化调整。调整后的熔断措施为：对确诊旅客人数达到5例的航空公司单一入境航班，当确诊旅客占比达到该航班入境旅客人数4%时，暂停运行1周；当确诊旅客占比达到该航班入境旅客人数8%时，暂停运行2周。熔断的航班量不得调整用于其他航线。相关政策将根据疫情形势和防控要求，适时做出必要调整。

Hong Kong will reduce the period of time arrivals must spend in hotel quarantine to three days, plus four days of health monitoring at home or in a hotel, the latest move to ease travel restrictions that have largely isolated the Asian financial hub throughout the pandemic, Chief Executive John Lee said Monday. The new rules come into effect Friday. 

海外抵港检疫改“3+4”：香港特区行政长官李家超8日在特区政府总部主持“应对疫情指导及协调组”记者会上公布，海外或台湾地区由机场抵港人士检疫措施将有新安排，由原本的7日酒店检疫改为3日酒店检疫及4日家居医学观察。有关措施将于本周五(12日)生效。

产业及公司新闻

China's natural gas output has exceeded 100 billion cubic meters per year during the past consecutive five years, Chinese energy giant China National Petroleum Corporation (CNPC) said on Sunday. China has established four major natural gas producing bases including in Northwest China's Qinghai and Xinjiang's Tarim basin, media reported. 

国内天然气产量连续5年破千亿方：中国石油7日举办开放日活动，中国石油表示，其业务已遍布全球80个国家和地区，在国内，已建成长庆、西南、塔里木、青海四大主力产气区，国内天然气产量连续5年突破千亿方。目前中国石油的国内天然气产量当量已突破1亿吨，形成油气产量总量的“半壁江山”。 

Shares of Guangdong Dcenti Auto Parts soared by daily limit on Monday after the Chinese automotive wheel and tire supplier said it plans to enter the battery raw materials field by investing 2 billion yuan to build a battery recycling plant for used lithium battery electrodes. The plant in Jiangmen will have an annual capacity of 50,000 tons of sulphate products of cobalt, nickel, lithium, and manganese, the firm announced Sunday. 

迪生力20亿建电池回收厂：迪生力8月7日晚间公告，公司全资子公司广东迪生力新材料科技有限公司与江门市新会区政府签署投资意向书，双方愿意在工业园区内安排约180亩项目用地，建设5万吨/年废旧锂离子电池电极粉回收及5万吨/年高镍三元锂离子前驱体项目，项目总投资约20亿元。迪生力今天涨停，汽车零部件版块也掀起涨停潮。

财报速递

Sohu, China's online media, video, and game business group, today reported unaudited financial results for the second quarter ended June 30, 2022. Total revenues were $195 million, down 5 percent year-over-year, in which brand advertising revenues were down 32 percent at $25 million, while online game revenues increased 4 percent to reach $157 million. Non-GAAP net income shrank over 50 percent from the same period last year to $12 million, yet improved from the $9 million net income of Q1.

搜狐二季度营收1.95亿美元：8月8日，搜狐发布2022年二季度财报。财报显示，二季度搜狐营收1.95亿美元，上年同期2.04亿美元，同比下降5%。其中，品牌广告收入为2500万美元，在线游戏收入为1.57亿美元。不按美国通用会计准则（Non-GAAP），二季度归属搜狐的净利润为1200万美元，而上年同期净利润为2500万美元，上一季度净利润为900万美元。

金融市场消息

Shares of Yango Group jumped by the exchange-imposed limit after the debt-ridden Chinese real estate developer said its parent company received a bailout offer from China Huarong Asset Management last Friday, one of China’s four largest state-owned asset managers. Huarong said in the announcement that it will take action to dissolve risks in the country’s real estate sector, participate in mergers and acquisitions of real estate developers’ non-performing assets to vitalise unfinished houses and guarantee the delivery of pre-sold homes. 

华融出手化解阳光城债务危机：8月8日，阳光城开盘即涨停。消息面上，8月5日，中国华融官宣其将纾困阳光龙净集团有限公司，双方已签署《纾困重组框架协议》。中国华融称，为贯彻落实国家关于稳定房地产市场，保交楼、稳民生的有关要求，进一步促进房地产业良性循环和健康发展，中国华融全面推动与相关市场主体的纾困合作。

Initial public offerings in the Chinese mainland exchanges have climbed to $57.8 billion dollars so far this year, the largest ever for such a period, data shows on Sunday. There have been five IPOs of above $1 billion this year. 

内地IPO规模创历史新高：据报道，2022年迄今，中国内地IPO规模已攀升至578亿美元，创下同期历史新高。今年1月以来，中国内地已有5笔超过10亿美元的IPO。

股市收盘情况

Chinese stocks flitted in tight range before closing higher on Monday, as new Covid outbreaks kept market sentiment fragile, yet countered by strong exports performance in July. By the close, the Shanghai Composite edged up 0.31 percent and the Shenzhen Component added 0.27 percent. However, the Hang Seng Index closed 0.77 percent lower and the TECH Index slid 1.82 percent.

周一A股全天震荡，三大指数涨跌不一。截至收盘，上证指数涨0.31%，深成指涨0.27%，创业板指跌0.29%。板块方面，能源、运输等板块较为活跃，汽车、移动支付概念等板块领跌。港股恒生指数收跌0.77%，恒生科技指数收跌1.82%。

Biz Word of the Day

财经词汇划重点

A real estate fund is a pooled investment, often a mutual fund, that takes the money from its many investors and uses it to invest in a variety of securities. A real estate fund is a type of sector fund, which means it specifically invests in securities in a particular sector—in this case, real estate.

房地产基金一般指专注于房地产领域的私募股权基金，是一种面向私有房地产资金进行并购或开发的投资模式。