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’s FX reserve rises in May after a four-month decline;
World Bank slashes 2022 global growth forecast to 2.9%.
Here’s what you need to know about China in the past 24 hours
中国经济要闻
China's foreign exchange reserve rose in May after a four-month decline, as the values of financial assets in major countries stayed mixed with the US Dollar Index falling slightly, but the long-term solid fundamentals of the Chinese economy will continue to support the overall stability of the nation's foreign exchange reserve, an official said.
The country's foreign exchange reserve rose to 3.12 trillion dollars in May, up 8.1 billion dollars or 0.26 percent from the end of April, data revealed by the State Administration of Foreign Exchange (SAFE) showed on Tuesday.
"The increase in forex reserve was mainly due to the combined impact of a fall in the US Dollar Index and the mixed performance of global financial asset values, as well as other factors including global economic growth prospects, geopolitical uncertainty and monetary policy expectations in major economies," said Wang Chunying, deputy head and spokesperson of the SAFE.
The euro rose 1.8 percent against the dollar last month, while the yen was up 0.8 percent and the British pound increased 0.2 percent.
"Along with China's efficient coordination of epidemic prevention and control with economic and social development, the long-term solid fundamentals of the nation's economy have not changed and will support the overall stability of forex reserve," Wang said, as China's cross-border capital flow and the supply and demand in domestic foreign exchange market have maintained a basic balance.
中国外汇储备5月份有所回升，主要国家金融资产价值涨跌互现，美元指数小幅回落，我国外汇市场运行总体平稳，境内外汇供求保持基本平衡。
国家外汇管理局周二发布的数据显示，截至今年5月末，我国外汇储备规模为31278亿美元，较4月末上升81亿美元，升幅为0.26%。
国家外汇管理局副局长兼发言人王春英表示：“外汇储备的增加主要是美元指数下跌和全球金融资产价值涨跌互现的综合影响，以及其他因素，包括全球经济增长前景、地缘政治不确定性和主要经济体的货币政策预期。”
上月，欧元兑美元汇率上涨1.8%，日元兑美元汇率上涨0.8%，英镑兑美元汇率上涨0.2%。
由于我国外汇市场运行总体平稳，境内外汇供求保持基本平衡，王春英表示，“随着中国疫情防控与经济社会发展的有效协调，我国经济长期向好的基本面没有改变，将支持外汇储备规模保持总体稳定。”
The World Bank slashed the 2022 global growth forecast to 2.9 percent on Tuesday, 1.2 percentage points below the January forecast. The Russia-Ukraine conflict and COVID-19 pandemic have magnified the slowdown in the global economy. There could be “a protracted period of feeble growth and elevated inflation,” the World Bank said in its Global Economic Prospects report.
世行下调全球经济增长预期至2.9%：世界银行周二发布的《全球经济展望》报告将2022年全球经济增长预期下调至2.9%，远低于今年1月预期的4.1%。世行指出，在全球经济遭受新冠疫情重创的背景下，俄乌危机使形势雪上加霜，加剧了全球经济增速放缓。全球经济可能进入一个长期增长疲弱、通胀高企的时期。
During a State Council policy briefing on foreign trade Wednesday morning, Zhou Yu, an official of the PBOC, said the central bank will continue to promote market-oriented reform and flexibility of the RMB exchange rate, which will be given full play to the role of regulating the macro economy and stabilising balance of payments. The PBOC vowed to keep the yuan stable and balanced while guiding market players in establishing the concept of "risk neutrality”. Zhou also revealed that China will extend the trading hours of its onshore interbank forex market.
引导市场主体树立“风险中性”理念：6月8日，国新办举行政策例行吹风会，介绍推动外贸保稳提质有关情况。会上，央行国际司有关负责人周宇在回答21世纪经济报道记者提问时表示，央行会继续推进汇率市场化的改革，增强人民币汇率弹性，发挥汇率调节宏观经济和国际收支自动稳定器的作用，引导市场主体树立“风险中性”的理念，保持人民币汇率在合理均衡水平上的基本稳定。会上，周宇还透露，将延长银行间外汇市场的交易时间，不断提升投资中国市场的便利性。
Moving on to regional highlights
区域经济新闻
According to data released by Shanghai Centaline Property, Shanghai’s new commercial residential transaction area reached 88,400 square meters in the first week of June, up by 142 percent month-to-month, with the Dragon Boat Festival holiday turnover of 31,200 square meters, accounting for approximately 30 percent of the volume.
上海6月初房地产交易量大增：截至6月7日，根据上海中原地产披露的数据显示，包括端午节在内的一周内，上海新建商品住宅成交面积8.84万平方米，环比增加141.80%，其中，端午节假期成交量为3.12万平方米，占约3成的成交量。
The Guangzhou Futures Exchange, southern China's first and the mainland's fifth futures exchange, revealed guidelines for potential traders on Monday ahead of its imminent opening. Eligible market makers need to have minimum net assets of at least 50 million yuan or foreign currency equivalent, and investors with at least 100,000 yuan on account can trade on the exchange.
广期所发布12项业务规则：6日晚间，广期所发布了《广州期货交易所交易管理办法》等12项业务规则，涉及交易时间、做市商资格条件等，规则自发布之日起实施。其中，明确个人开户门槛为10万元，按品种实行做市商资格管理，净资产要求不低于人民币5000万元。随着业务规则的正式发布，广期所距离开市仅一步之遥，下一步将等待新品种以及开市交易时间的确定。
Next on industry and company news
产经消息及公司新闻
The National Press and Publication Administration released 60 licenses for gaming titles yesterday. Migu Interactive Entertainment, under telecoms giant China Mobile, and Changyou.com, a unit of Internet company Sohu, were among the lucky recipients. Many US-listed Chinese game ecology companies saw their stocks price soared Tuesday. However, Tencent Holdings, the world’s biggest video games company, and its rival NetEase were not among the holders of these licenses.
60款国产游戏获版号：6月7日，国家新闻出版署公布了2022年6月份国产网络游戏审批信息，共60款游戏获批，相比4月份增加了15个。获批的游戏公司包括米哈游、完美世界、波克科技、英雄互娱等多家知名游戏厂商。两家游戏大厂腾讯和网易在4月和6月发放的版号名单中均未出现踪影。6月7日，多只中概游戏股走高，哔哩哔哩一度涨近6％，虎牙直播、斗鱼一度涨超4％。
Tencent said late Tuesday that it will release its most profitable flagship mobile game "Honor of Kings" globally by the end of the year as the domestic internet giant pivots to the international gaming market. The overseas version of the game will start multiple rounds of closed beta testings next month.
腾讯《王者荣耀》官宣出海：腾讯海外发行品牌Level Infinite，6月7日晚间宣布，将在今年年底前向全球玩家推出由天美工作室群出品的《王者荣耀》，7月开始将逐步公布多轮内测。
Shanghai-based Bright Dairy & Food will spend 2.5 billion yuan to build new pastures to expand its herd of dairy cattle and increase milk output, the Chinese milk products giant said late Tuesday. A unit will develop four pastures over 2.6 square kilometers in Dingyuan county in Anhui province, enough for 47,500 dairy cows to graze. The project should produce around 260,800 tons of fresh milk a year by 2028, it said.
光明乳业拟投25亿建牧场群：6月7日晚间，光明乳业公告称，为解决奶牛存栏数下降、奶源不足等问题，全资子公司光明牧业有限公司拟在安徽省滁州市定远县投资建设定远牧场群项目。公告称，项目设计规划存栏47500头奶牛，分为4个奶牛养殖牧场。项目总占地面积约3928亩，预计在2028年实现达产，达产年产优质原料奶约29.59万吨，投产后平均年产鲜奶约26.08万吨。
Chinese carmaker BYD became the world’s third-largest carmaker, as its market value exceeded that of Germany’s Volkswagen. BYD’s market value reached $121.9 billion yesterday, entering the top three for the second time after November last year. Tesla topped the list with a market value of $740.6 billion, while Japan’s Toyota Group ranked second with $229 billion.
比亚迪跻身全球车企市值前三：根据截至6月7日的全球最新车企市值排行榜，中国电动车制造商比亚迪反超大众集团位居全球第三，总市值达到1288亿美元。特斯拉市值7288.8亿美元，遥遥领先其他车企。排名第二的丰田集团总市值为2289.6亿美元。约为特斯拉的30%。
Switching gears to the financial sector
金融市场要闻
The China Banking and Insurance Regulatory Commission (CBIRC) issued new rules on Monday for asset management companies (AMCs) to play a greater role in reducing risks related to nonperforming assets of small and medium-sized banks and participating in the design of restructuring plans for the banks.
AMC参与中小金融机构改革化险：6月6日，为进一步促进金融资产管理公司回归本源、专注主业，在中小金融机构改革化险中发挥积极作用，银保监会日前印发《关于引导金融资产管理公司聚焦主业积极参与中小金融机构改革化险的指导意见》，明确指出，鼓励资产管理公司参与高风险中小金融机构兼并重组工作，支持资产管理公司更好发挥化解金融风险的功能作用。
China’s Ministry of Finance unveiled a plan Monday to sell 23 billion yuan of yuan-denominated treasury bonds in four batches in Hong Kong this year, the biggest bond sales in years. To celebrate the 25th anniversary of the establishment of the HKSAR, the first issue is set for June 15, the Finance Ministry said. Maturity periods of the bonds will range from two to five years.
财政部在港发行230亿元国债：中华人民共和国财政部6日宣布，将于今年在香港分4期发行230亿元(人民币)国债。据介绍，为庆祝香港特区成立25周年，财政部定于6月15日发行首期人民币国债，包括2年期、3年期和5年期。
Wrapping up with a quick look at the stock market
最后来看股市收盘情况
China’s major share indexes finished trade at two-month closing highs on Wednesday, as consumer firms extended their rally on hopes for a demand recovery on easing COVID-19 restrictions and the latest flare-up in Beijing has been put under control. The benchmark Shanghai Composite gained 0.68 percent and the Shenzhen Component ended up 0.82 percent. Hong Kong's Hang Seng index rose 2.24 percent, and the TECH index rallied 4.76 percent as Bilibili soared 19.6 percent and Alibaba up over 10 percent.
周三A股集体走强。截止收盘，沪指涨0.68%，深成指涨0.82%，创业板指涨0.85%。沪深两市全天成交额11012亿元，连续第三个交易日突破万亿。煤炭开采加工、汽车整车等板块涨幅居前，科创板次新股、港口航运等板块飘绿。港股高开高走，恒指收涨2.24%，重上22000点，恒生科技指数收涨4.76%，哔哩哔哩暴涨19.62％，阿里涨10.12％
Biz Word of the Day
财经词汇划重点
Hong Kong Monetary Authority (HKMA) is a government entity that was founded on April 1, 1993 as the de facto central bank and Hong Kong’s currency board. HKMA was established following the merger of the Office of the Commissioner of Banking and the Office of the Exchange Fund.
香港金融管理局（简称金管局）是中华人民共和国香港特别行政区政府辖下的独立部门，负责香港的金融政策及银行、货币管理，担当类似中央银行的角色，直接向财政司司长负责。
Executive Editor: Sonia YU
Editor: LI Yanxia
Host: Stephanie LI
Writer: Stephanie LI, XIE Kaishan,Jia Yuxiao, Mao Ziqi, Zeng Libin
Sound Editor: XIE Kaishan
Graphic Designer: ZHENG Wenjing, LIAO Yuanni
Co-produced by 21st Century Business Herald Dept. of Overseas News & SFC Audio/Video Dept.
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、谢凯珊、贾雨逍、毛子奇、曾丽镔
音频制作：谢凯珊
设计：郑文静、廖苑妮
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