Hi everyone. I’m Stephanie LI.
巨匠好，我是主持人李莹亮。Coming up on today’s program.
China’s industrial added value up 3.4% in H1, marking stable recovery as epidemic eased;
The central bank keeps lending benchmark LPR unchanged in July as interest rates stay low.Here’s what you need to know about China in the past 24 hours
China's industrial activities are continuing a recovery trend following recent COVID-19 outbreaks, led by production in high-tech industries.
The country's industrial output jumped 3.4 percent annually in the first half of 2022, data from the Ministry of Industry and Information Technology (MIIT) showed on Tuesday. During the January-June period, high-tech manufacturing saw a 9.6-percent increase from the first six months last year, significantly higher than other industries.
Among the 41 major industrial sectors, 33 industries have achieved positive growth in the first half of the year, nine of which have achieved double-digit growth rates.
In June alone, China's industrial output jumped 3.9 percent from last year, led by strong new energy vehicle (NEV) production, according to the NBS.
Output growth was 3.2 percentage points higher than in May, adding to signs that the country's economy is further recovering from recent COVID-19 outbreaks.
Breaking it down by sectors, NEV production increased the most with a 120.8-percent rise as the world's largest auto market continued to recover with measures to boost NEV consumption.
China's economy expanded 2.5 percent yearly in the first half of 2022. In the second quarter alone, the country's gross domestic product only grew 0.4 percent from the same period last year. In April, factory output declined 2.9 percent compared to the same month in 2021, as a new wave of the coronavirus spread across China slowed down business activities and production.
But with recent supportive policies and getting COVID-19 outbreaks under control, the economy is expected to pick up momentum to stabilise and rebound in the second half.
China's food supplies remained sufficient during the first half of the year, said the Ministry of Agriculture and Rural Affairs on Wednesday. The output of su妹妹er grain was 294.8 billion catties, hitting an all-time high. Hog production has returned to a reasonable range, with the number of breeding sows rising for the second consecutive month to reach 42.77 million at the end of June, while pork output jumping 8.2 percent in the first half from a year ago.
上半年夏粮产量翻新高：20日李强消息办公室举行消息宣布会，农业墟落部相干担当人介绍2022年上半年农业墟落经济运行环境。上半年，我国“米袋子”、“菜篮子”重点品种提供足量，价格总体稳定幅度不大。我国上半年夏粮产量达2948亿斤，创历史新高。6月末天下能繁母猪4277万头，如今已间断两个月回升。今年上半年，猪肉产量促成8.2%，云云生猪临蓐足量， 后期猪价不具备延续大幅上涨根基。Moving on to regional highlights
Guangdong Province saw its foreign trade grow 2.8 percent year on year to hit 3.91 trillion yuan in the first half of 2022, local customs authorities said on Tuesday. The province's exports climbed 7.3 percent to 2.47 trillion yuan, while imports were down 4 percent to 1.44 trillion yuan.
East China's Jiangsu Province, another major foreign trade hub of the country, saw robust foreign trade growth, as total import and export volume rose by 10 percent year on year to 2.64 trillion yuan from January to June, accounting for 13.3 percent of the country's total in the period.
江苏上半年外贸占天下13%：7月18日，南京海关宣布统计数据体现，今年上半年江苏省外贸出进口总值2.64万亿元，同比促成10%，增幅较天下总体增速高0.6个百分点，占天下出进口总值的13.3%。个中，出口1.66万亿元，促成12.3%；进口9737.1亿元，促成6.2%。Next on industry and company news
China Mineral Resources Group was set up in Xiongan New Area, Hebei Province on Tuesday, in a long-awaited move that would give China a bigger say in iron ore pricing with a registered capital of 20 billion yuan. The new mineral giant's legal representative is Yao Lin, chairman of Aluminum Corp of China, who reportedly left his post on July 12, paving the way for his new appointment.
ByteDance’s short-video platform Douyin has added iQiyi as another long-form video partner after China began to clamp down on video copyright infringement. The two platforms will work together on creating short clips of iQiyi's long content, Douyin said Tuesday.
Tencent Video issued a statement on Tuesday, clarifying that rumours regarding the company being in talks with Kuaishou on a strategic cooperation of the secondary creation of long videos was “unfounded”.
Brii Biosciences revealed on Tuesday that its majority-owned joint venture TSB Therapeutics (Beijing) had entered into a partnership with China Resources Pharmaceutical Co妹妹ercial Group to distribute its new Covid drug, a neutralising monoclonal antibody therapy.
Executives of Jiayuan.com, a well-known Chinese dating platform in which Fosun Pharmaceutical Group is a major shareholder, have been arrested after the drugmaker found evidence they had abused their positions to co妹妹it crimes and reported the matter to the police, the Shanghai-based firm said Tuesday.
Hon Hai Precision Industry, the world's biggest original equipment manufacturer of Apple’s handsets, is accelerating hiring in China ahead of the launch of the iPhone 14. The number of fresh university graduates hired by Hon Hai, also known as Foxconn, has grown to almost 3,750 this year, up by 50 percent from a year ago, the manufacturer said Tuesday.
富士康扩招近50%应届生: 富士康18日在平易近间公共号宣布信息体现，该公司今年招聘应届大学结业生3747人，个中深圳厂区1624人。富士康今年招聘的大门生人数相比2021年提升近50%，提供的岗位类别蕴含产业互联网、研发、打点、技能、市场及职能6个大类。Earnings reports express
WuXi Biologics said Tuesday it expects huge growth in the first half of 2022, prompting its stock to jump 2.6 percent on Wednesday. Revenue for six months ended June 30 will increase between 61 percent and 63 percent, and net profit to widen between 35 percent and 37 percent, according to its filing to Hong Kong Stock Exchange.
药明生物上半年营收涨超60%：药明生物19日在港交所看护书记，本小我私家预期与去年同期相比，终止2022年六月三十日止六个月所录得的本公司收益将促成61%至63%；本公司利润及归属于本公司权力股东的利润相比于去年同期划分促成36%至38%和35%至37%。Switching gears to financial news
China kept its lending benchmark loan prime rate (LPR) unchanged in July, central bank data showed on Wednesday. The one-year LPR came in at 3.7 percent and the over-five-year LPR was kept at 4.45 percent, according to the National Interbank Funding Center.
China’s top securities regulator approved two new stock index derivatives, expanding risk management tools available for investors in Chinese mainland-listed equities. Trading in futures and options based on the CSI 1000 Index has been cleared to start on the China Financial Futures Exchange on Friday, the China Securities Regulatory Co妹妹ission (CSRC) announced on Monday.
Thirty-seven brokerages were fined 60 times from the second half of 2019 to the first half of 2022, according to the latest data from the CSRC on Tuesday. Most of the violations had to do with IPO underwriting, sponsoring as well as mergers and acquisitions.
近3年37家券商共收60张罚单：19日，据证监会及证监局信息统计，2019年下半年至2022年上半年，37家券商被给与禁锢办法60次，IPO承销保荐、并购重组是券商被罚的业务重灾区。Wrapping up with a quick look at the stock market
Chinese stocks ended higher on Wednesday, tracking broad gains among global peers. At the close, the benchmark Shanghai Composite edged up 0.56 percent and the Shenzhen Component gained 0.34 percent. Hong Kong’s Hang Seng index rose 1.11 percent and the TECH index climbed 1.56 percent.
Biz Word of the Day
A mortgage rate is the rate of interest charged on a mortgage. Mortgage rates are determined by the lender and can be either fixed, staying the same for the term of the mortgage, or variable, fluctuating with a benchmark interest rate.
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