世界杯在哪买球手机客户端登录-CBN丨Top banking regulator calls for smooth transition of property market



你的位置:世界杯在哪买球手机客户端登录 > 服务中心 > CBN丨Top banking regulator calls for smooth transition of property market
CBN丨Top banking regulator calls for smooth transition of property market
发布日期:2022-11-19 02:37     点击次数:168

CBN丨Top banking regulator calls for smooth transition of property market


Hi everyone. I’m Stephanie LI.


Coming up on today’s program.


Top banking regulator said China has made progress in preventing and defusing financial risks;

Chinese food delivery platforms and Meituan reduce co妹妹ission for pandemic-affected merchants.

Here’s what you need to know about China in the past 24 hours 


China has made continued efforts to forestall and defuse financial risks while supporting steady economic recovery, said Guo Shuqing, chairman of the China Banking and Insurance Regulatory Co妹妹ission, at a press conference on Wednesday.

To expand consumer demand and investment, Guo suggested that the banking and insurance industry should better support the operation of small and micro businesses, support rural vitalization, and provide services for new urban residents.

Speaking of the real estate market, Guo said that housing price adjustments and restructuring of demand are good for China's financial sector but regulators expect to see a smooth transition rather than drastic adjustments that could have a huge economic impact.

Despite slump in housing prices last year, homes, especially rental housing, and home decorations are still needed. Therefore, it is very meaningful to provide financial services in this regard, Guo said.

Guo also revealed the process of rectification on online finance, saying that the rectification has proceeded relatively smooth. Last April, a number of Chinese financial departments held talks with representatives from a dozen online platforms that have financial businesses, including Tencent, ByteDance and JD Finance.

According to Guo, the rectification of the companies faces various challenges, including areas such as data, personal privacy protection, and individual and corporate information. But in general, the government has confidence the rectification can be achieved well. 







Update on COVID-19


The Chinese mainland added 54 locally transmitted cases on Wednesday, among which 28 were in Guangdong province.


Next on industry and company news


Leading Chinese meal delivery platform Meituan said late Tuesday that it plans to halve its co妹妹issions in areas where caterers are experiencing difficulties and it will cap fee for each order at 1 yuan. Alibaba-backed food delivery giant also announced Wednesday that it will allocate an initial fund of 20 million yuan in co妹妹ission for pandemic-hit merchants. 


US-listed shares of Chinese video platform iQiyi soared 22 percent on Tuesday, as the company said it targets breaking even this year after racking up losses in the 11 years since it was founded.  For the 12 months ended Dec. 31, iQiyi’s net loss narrowed over 11 percent from the year before to 6.2 billion yuan, according to its financial report released Tuesday. 


The founder of Haidilao International Holding Zhang Yong stepped down as CEO and will be replaced by his deputy CEO. The company is bracing for losses of up to 4.5 billion yuan in 2021, a far cry from 2020’s profit of 309.5 million yuan, while its revenue is expected to jump 40 percent from the year before to 40 billion yuan.


Switching gears to the financial sector


China will further improve its regulatory framework of monetary and macro-prudential policies, as part of efforts to step up counter-cyclical adjustments and curb risk contagion, according to the central bank.


China's third batch of pilot regions for trials of the digital yuan will be unveiled soon, with Fuzhou, Xiamen and Hangzhou cities expected to be selected, media reported Wednesday.


Wrapping up with a quick look at the stock market


Chinese stocks closed lower on Thursday with battery, aerospace and photovoltaic devices sectors recorded losses. The benchmark Shanghai Composite lost 0.09 percent and the Shenzhen Component came down 1.09 percent. The Hang Seng Index gained 0.55 percent, however, as the booming ports and logistics stocks went strong.


Biz Word of the Day


Macro-prudential policies are the financial policies aimed at ensuring the stability of the financial system as a whole to prevent substantial disruptions in credit and other vital financial services necessary for stable economic growth.



Executive Editor: Sonia YU

Editor: LI Yanxia

Host: Stephanie LI

Writer: Stephanie LI, ZHANG Ran

Sound Editor: ZHANG Ran

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






21世纪经济报道海外部 南财音视频部  联合制作

南方财经全媒体个体  出品