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要点纲要Chinese regulators urge financial institutions to take main responsibility in tackling risks; Eighteen provinces post GDP growth above national 3.0% in first three quarters.
中国经济要闻China's newly established financial stability fund, its deposit insurance fund and other industry security funds shall not be used as the go-to bailout option while the country is dealing with financial risks, said Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission. Guo has warned of so-called “black swan” events, or unforeseen occurrences that typically have extreme consequences, that can happen during China's economic development. All kinds of "black swan" and "grey rhino" events may occur at any time, he noted. A "grey rhino" event refers to a highly obvious yet ignored threat. China's development has entered a period in which strategic opportunities, risks, and challenges co-exist, with uncertain and unpredictable factors increasing, Guo wrote in an article in a book titled "A Supplementary Reading of the 20th Communist Party Congress Report." He said China should expedite the launch of the financial stability law and clarify the criteria to trigger the disposal of financial risks as well as the procedures, mechanisms, sources of funds and legal liabilities during the process of handling risks, adding that financial institutions should set up "living wills," a contingency plan for an orderly resolution in bankruptcy during financial distress, to avoid bigger systemic risks. 银保监会主席郭树清日前发表著作《加强和完善当代金融监管》。郭树清暗示，站在新的历史起首，金融监管更动任务相配艰苦。 郭树清在文中阐释了当代金融监管的基本内涵，包括宏观审慎管制、微观审慎监管、保护耗费权柄、打击金融造孽、珍摄商场踏实、责罚问题机构。 其中，在责罚问题机构方面，郭树清指出，趁早把“烂苹果”捡出去，关于修复郑重高效的风险责罚体系至关要紧。一是“生前遗嘱”。金融机构必须制定并按时改动素雅可行的规复和责罚规画，确保出现问题获得有序责罚。二是“自救安排”。落实机构超过主要推动、本色限制人和最终受益人的主体职守，全面做实成本器用罗致耗费时制。自救失败的问题机构必须照章重整或停业关闭。三是“注入基金”。必要时专揽进款保障等行业保障基金和金融踏实保障基金，扎眼挤提、退保事件和单体风险引发系统性区域性风险。四是“实时止损”。为最大限定珍摄人民全球根柢利益，必须以成本最小为原则，让规画失败金融企业退出商场。五是“济急准备”。宝石底线思维、极限思维，制定责罚系统性危急的预案。六是“快速启动”。有些金融机构风险的爆发具有斯须性，步地恶化如同火警，启动责罚机制必须有稀奇授权安排。 Yi Gang, governor of People's Bank of China, also said in an article that clarity on both responsibilities and the division of labor is a prerequisite for effective disposal of financial risks. Yi said financial regulators should shoulder the responsibility of handling risks associated with financial institutions within their respective jurisdictions; the PBOC is responsible for dealing with systemic financial risks; and local governments should improve financial risk disposal mechanisms and implement territorial responsibilities. He said “self-help” should become the main way of dealing with financial risks at present and in the future. Financial institutions and their shareholders that are market players must shoulder the main responsibility of operating independently, being responsible for their own profits and losses, and defusing their own risks. 中国人民银行行长易纲日前在题为《修复当代中央银行轨制》的签字著作中写道，修复当代中央银行轨制，要做好四项责任。一是完善货币战略体系，珍摄币值踏实和经济增长；二是深切金融体制更动，培植金融服求实体经济能力；三是落实金融机构及推动的主体职守，培植金融机构的郑重性；四是加强和完善当代金融监管，强化金融踏实保障体系，守住不发生系统性金融风险底线。 其中，在落实金融机构及推动的主体职守，培植金融机构的郑重性方面，易纲合计，“自救”应成为现时和今后支吾金融风险的主要方式。他暗示，现时，我国社会主张商场经济体制也曾全面成就，金融机构及推动动作商场主体，应当承担自主规画、景况盈亏、“自救”风险的主体职守。金融机构要建立商场化成本补充机制，按照监管国法计提拨备，加大不良钞票责罚力度，塑造金融机构健康的钞票欠债表。健全激励拘谨机制，尊重金融机构自主规画权，减少对金融机构规画行动的行政扰乱。推动资不抵债的机构有序商场化退出，通过股权清零、大额债权打折承担耗费。 The economic growth of 18 Chinese provinces has exceeded the 3-percent national growth rate in the first three quarters, according to the data they released yesterday. Shanxi province reported a 5.3 percent GDP growth in the nine months ended Sept. 30 from a year earlier, ranking first among China’s 31 provincial-level regions, driven by its industry, especially coal and electricity. Fujian ranked second with 5.2 percent as it experienced a rapid increase in fixed asset investments, followed by Jiangxi and Inner Mongolia with 5 percent each. Guangdong, Jiangsu, and Shandong ranked top three by economic volume growth, achieving 9.2 trillion yuan, 8.9 trillion yuan, and 6.4 trillion yuan, respectively. Henan, Sichuan, and Fujian completed the top six. 31省市前三季度GDP出炉：为止11月2日，宇宙31个省（区、市，不含港澳台）经济三季报已一齐公布。31个省份中，25个省份前三季度GDP总量最初万亿元。广东、江苏、山东、浙江、河南和四川6个经济大省依然位居前方，其中，广东（91723.22亿元）、江苏（88652.7亿元）、山东（64409亿元）、浙江（55750亿元）前三季度GDP最初5万亿元。从GDP增速来看，有18个省前三季度GDP同比增长率高于宇宙水平（3%），不同于此前，本年中西部省份施展杰出，合座施展位居前方，山西省更是延续上半年的势头以5.3%的增速领跑，福建、江西、内蒙古、宁夏、湖南、陕西、湖北、甘肃、山东紧随自后。
产业及公司新闻Chinese local governments should make better use of state-owned assets, such as houses, land and cars, in order to help plug the gap between fiscal revenue and expenditure, the Ministry of Finance said Tuesday. Local governments should conduct a thorough inventory of the assets that they occupy and use to make sure that they are being used efficiently, such as through the sharing, swapping, leasing or selling of these resources, and that none are lying idle. China had 43.5 trillion yuan worth of administrative and institutional state assets in 2020, according to official data. 财政部指挥周转国有钞票：11月1日，财政部条款加速对房屋、地盘、车辆等种种国有钞票周转利用，培植钞票周转利用成果，着实落实紧日子条款。条款周转的行政治业单元国有钞票包括低效运转、闲置的房屋、地盘、车辆，还包括办公开发产品、大型仪器、软件等钞票。除了什物质产外，还对货币方式的行政治业单元国有钞票按照预算管制规矩给以管制和周转。周转妙技包括私用、分享、调剂、出租、责罚等多种方式。官方数据披露，2020年，宇宙行政治业性国有钞票总数43.5万亿元、欠债总数11.2万亿元、净钞票32.3万亿元。 China's logistics sector was less upbeat in October due to the recent COVID-19 resurgence, as the index tracking the country's logistics market performance stood at 48.8 percent last month, down 1.8 percentage points from September, according to the China Federation of Logistics and Purchasing (CFLP) on Wednesday. 10月中国物流业景气指数降至48.8%：中国物流与采购聚齐集2日公布10月份中国物流业景气指数。受疫情和季节性要素影响，物流业景气指数有所回调，物流脱手有所波动，但基本保持安祥态势。10月份中国物流业景气指数为48.8%，较上月回落1.8个百分点，其中保障民生的邮政快递业、装卸搬运、管道运载业务总量指数处在推广区间。 A total of 46 Chinese-manufactured wide gauge railway coaches have been loaded in North China’s Tianjin Port and will be shipped to Pakistan on Thursday, marking the first time China will have exported its technology for constructing railway coaches capable of speeds of 160 kilometers per hour. Another 184 units will be delivered to Pakistan in parts and will be assembled locally. 时速160公里客车技巧初度国际输出：日前，46辆国产宽轨铁路客车在天津港装船，行将搭乘货轮驶往巴基斯坦，这也将成为我国时速160公里铁路客车技巧初度国际输出。据了解，这次46辆宽轨客车均为国内整车出产完成请托，后续还将有184辆客车在巴基斯坦以散件拼装方式请托，从良友毕车辆的土产货化制造。 Global electric vehicle battery installations totaled 341.3 gigawatt-hours in the first three quarters this year, rising 75.2 percent from the same period last year, data by global information agency SNE Research showed Tuesday. The growth rate was particularly impressive in China, with CATL ranking first with 119.8 GWh of installed power batteries from January to September, surging 100.3 percent from last year and taking a global market share of 35.1 percent. BYD ranked third with 43.6 GWh, a whopping 177 percent gain, with its market share jumping from 8.1 percent last year to 12.8 percent. 宁德时期领衔全球能源电板装车榜：11月1日，全球资讯机构SNE Research公布数据披露，全球电动汽车电板装车总量达341.3GWh，同比增长75.2%。宁德时期、LG新能源位居全球能源电板装车量前两位，比亚迪位居第三。其中，宁德时期的能源电板装车量为119.8GWh，同比增长100.3%，全球商场份额为35.1%，较旧年同时的30.7%增长4.4%。比亚迪以43.6GWh的装车量居第三，同比增幅达到177.0%，商场份额从旧年的8.1%增长至12.8%。
金融商场讯息China's local government bond issuance reached 32.2 trillion yuan in September with a net 24.1 billion yuan in special bonds, data from the Ministry of Finance showed on Thursday. The figure took the total local government bond issuance for the year to 6.3 trillion yuan by the end of September, among which new sales amounted to 4.2 trillion yuan. 1-9月新增地点政府债券4.24万亿：11月3日，财政部网站公布2022年9月地点政府债券刊行和债务余额情况。9月，宇宙刊行新增地点政府债券322亿元，其中一般债券81亿元、专项债券241亿元。本年1-9月，宇宙刊行新增地点政府债券42422亿元，其中一般债券6990亿元、专项债券35432亿元。宇宙刊行地点政府债券蓄意63485亿元，其中一般债券19368亿元、专项债券44117亿元。 The central banks of China and Pakistan recently signed a memorandum of cooperation (MOC) on establishing yuan clearing arrangements in Pakistan, the People's Bank of China announced on Wednesday. 中巴建立巴基斯坦人民币算帐安排：据中国人民银行网站11月2日讯息，近日，中国人民银行与巴基斯坦国度银行签署了在巴建立人民币算帐安排的融合备忘录。巴基斯坦人民币算帐安排的建立，将有意于中巴两国企业和金融机构使用人民币进行跨境来去，进一步促进双边交易、投资便利化。 China's policy bank responsible for facilitating the country's foreign trade has rolled out specific credit support worth 200 billion yuan for imports from countries that are members of the Regional Comprehensive Economic Partnership (RCEP), according to the Export-Import Bank of China on Wednesday. In the first 10 months of 2022, the policy bank has offered over 310 billion yuan in total credit to support imports. 收支口银行设2000亿元RCEP入口专项额度：为助力放猛进博会溢出效应，不时引发入口后劲，中国收支口银行日前晓示，竖立2000亿元扶植从RCEP成员国入口专项额度，聚焦外贸、制造业等要点鸿沟，全力称心估计企业的资金需求。为止本年10月末，收支口银行入口信贷余额7200亿元；本年1月至10月，累计投放扶植入口信贷超3100亿元。
股市收盘情况Chinese shares fell on Thursday, as a two-day rally lost steam after fresh U.S. rate hike and rising COVID-19 cases in China hit confidence. The benchmark Shanghai Composite ended down 0.19 percent while the Shenzhen Component dipped 0.34 percent. Hong Kong stocks closed sharply lower, as the Hang Seng ended down 3.08 percent and the TECH index sank 3.84 percent. A股轰动港股下挫：周四A股三大指数午后轰动回升。为止收盘，沪指跌0.19%，深成指跌0.34%，创业板指涨0.01%，沪深两市全天成交额8865亿元。港股恒生指数跌3.08%，恒生科技指数跌3.84%。
Biz Word of the Day
财经词汇划要点A Memorandum of Cooperation (MOC) is defined as an agreement between countries or diplomatic parties. The MOC expresses the factual or legal details of a certain issue in question or depicts the details of the diplomatic dialogues the parties had. 融合备忘录一般指的是社交实施中国度间或社叮嘱表机关之间使用的社交文告，本色上是一种理论示知或言语记载。用于评释某一问题在事实上或法律方面的细节，或明确社交会谈中的言语内容；陈说、补充我方的视力、或反驳对方的视力。
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