CBN丨China's fiscal revenue hits 17.

　　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 fiscal revenue and expenditure picked up growth in October;

　　Central bank pledged to intensified efforts to implement the prudent monetary policyand keep yuan exchange rate basically stable.

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

　　中国经济要闻

　　China's fiscal revenue and expenditure growth both accelerated in October from September, according to official data on Wednesday, as the impact from massive tax credit rebates eased and an infrastructure push continued.

　　During the first 10 months, fiscal revenue amounted to approximately 17.34 trillion yuan, growing 5.1 percent after adjusting for the impact of value-added tax (VAT) credit rebates, exceeding a 4.1 percent gain in the first nine months, according to the Ministry of Finance on Wednesday.

　　For October alone, fiscal revenue grew at a double-digit pace of 15.7 percent from a year earlier, faster than a 8.4 percent gain in the month prior.

　　Tax revenue came in at nearly 14.26 trillion yuan in the January-October period, down 8.9 percent year-on-year, and increased by 2.4 percent excluding the impact of tax refunds. Tax revenue rose significantly in October, up 15.2 percent on a yearly basis and jumping 14.9 percent month on month, hitting a 16-month high.

　　Meanwhile, government revenue from land sales in October fell 3.8 percent year-on-year, narrowing from a 26.4 percent slump in September.

　　As China doubled down on an infrastructure push, fiscal expenditure rose 6.4 percent to 20.6 trillion yuan in the first 10 months, according to the finance ministry.

　　For the January to October period, 97 fixed-asset investment projects worth 1.4 trillion yuan were approved, according to the state planner on Wednesday.

　　The faster fiscal spending growth drove up infrastructure projects directly, reflecting policies have taken effect, experts noted, adding infrastructure is currently offsetting the downturn in domestic demand.

　　11月16日，财政部公布2022年10月财政收支情况。数据显示，今年1-10月累计，全国一般公共预算收入约17.3万亿元，按自然口径计算下降4.5%；扣除留抵退税因素后增长5.1%，较前三季度的增速4.1%继续回升。

　　收入继续延续恢复性增长势头，这也反映了经济稳中向好。

　　10月份政府性基金收、支的增速皆回升，而且政府性基金今年首现单月收支盈余。公共财政收入10月单月同比15.7%，和9月的8.4%相比明显回升，且创年内新高。由于留抵退税已于8月进入尾声，10月公共财政收入增速较快上行。

　　全国一般公共预算收入中，税收收入被称为“晴雨表”。今年前10个月，全国税收收入约14.3万亿元，扣除留抵退税因素后增长2.4%，按自然口径计算下降8.9%。税收收入降幅也继续缩窄。其中，10月份税收收入同比增长15.2%，较9月份大幅回升14.9个百分点，创2021年6月来新高。

　　分析指出，与9月份相比，10月份财政收入增长一大特点就是由税收收入增长带动，税收收入保持高增速，而非税收入大幅回落。10月份税收收入高增长，一是因为去年同期基数偏低，同时反映了9月份经济明显恢复，带动10月份税收收入增长。

　　财政部数据显示，今年前10个月，国内增值税约3.9万亿元，扣除留抵退税因素后增长2.7%，按自然口径计算下降29.1%。由此可见，增值税收入大幅下滑主要还是大规模增值税留抵退税所致。

　　国家税务总局总审计师蔡自力在昨日国务院政策例行吹风会上表示，从政策效应看，留抵退税是“真金白银”，发挥了为企业“输血”“活血”的积极作用。助力工业经济平稳运行，助力小微企业纾困发展，促进新动能加快发展。

　　另外，消费税增速上升幅度大。财政部数据显示，今年前10个月，国内消费税约1.4万亿元，比上年同期增长13.2%。10月份企业所得税收入增速也由负转正，这也反映稳经济一揽子举措落地，企业效益逐步好转。财政部数据显示，今年前10个月，企业所得税4.2万亿元，比上年同期增长3.5%。

　　财政支出方面，数据显示，今年前10个月，全国一般公共预算支出206334亿元，比上年同期增长6.4%。全国政府性基金预算支出85845亿元，比上年同期增长9.8%，继续保持较高增速。

　　分析认为，财政支出增速上升，直接带动基建增速上升，反映出积极财政政策发力起了作用。

　　Greater Bay Area, Greater future

　　新使命，大未来

　　Shenzhen is intensifying efforts to further enhance its innovation capability by increasing investment inresearch and development. Total R&D spending in the city reached 168.22 billion yuan last year, up 11.3 percent year-on-year, the seventh consecutive year to see a double-digit growth, according to Shenzhen’s Statistics Bureau on Wednesday. The amount accounted for 6 percent of the nation’s total R&D expenditures and ranked third among major Chinese cities, following Beijing and Shanghai.

　　2021年深圳研发投入1682亿元：11月16日，深圳市统计局发布《2021年深圳市科技经费投入统计公报》显示：2021年，深圳全社会研发投入1682.15亿元，同比增长11.3%，占全省研发经费的42.0%、全国的6.0%。总量位列北京、上海之后，稳居全国大中城市第三位。

　　Next on industry and company news

　　产业及公司新闻

　　International flights booked with Chinese airlines soared almost 140 percent in the first two weeks of this month from a year ago after Covid restrictions on overseas arrivals were relaxed. Reservations hit a daily high for this year on Nov. 5, according to figures from industry data app Umetrip. Chinese carriers had nearly 1,900 flights on international routes in the first half of the month, the data showed. The average airfare also fell about 15 percent from a year ago.

　　国际航班预定量明显上升：16日，航旅纵横的最新数据显示，11月5日，国际机票预订量创今年单日国际机票预订量新高。数据显示，11月以来，国际的机票预订量呈现明显上升趋势。11月上半月，国内航司的国际机票预订量同比去年增长近140%；国内航司的国际航线实际执行客运航班量近1900架次，基本恢复至去年同期水平；而国际航线平均票价则稳中有降，不含税约8554元，同比去年下降约15%。

　　China's major steelmaker Ansteel broke ground on a 22.9-billion-yuan underground iron ore mine project in Liaoning Province on Wednesday, which is expected to produce an annual 30 million tons of iron ore and 10 million tons of iron ore concentrate. The project is scheduled to begin operations in 2027. With an iron-ore reserve of 1.3 billion tons, it will become the country's largest underground single ore-body iron ore mine.

　　全国最大单体地下铁矿项目开工：11月16日，全国最大的单体地下铁矿山——鞍钢西鞍山铁矿项目正式开工建设。鞍钢集团方面介绍，该项目总投资229亿元，建成投产后将成为一座年产铁精矿千万吨级的地下铁矿山。据介绍，西鞍山铁矿保有资源储量13亿吨，设计年产铁矿石3000万吨、铁精矿超1000万吨，计划2027年投产。

　　Chinese private aerospace venture Galactic Energy Space Co successfully launched the Ceres 1 (Yao 4) carrier rocket on Wednesday afternoon, placing five commercial satellites into a solar synchronous orbit. It was the fourth consecutive successful launch of the firm's Ceres-1 commercial rocket. Galactic Energy Space has sent 14 satellites for seven clients into orbit, consolidating the record for private commercial rocket launches in China, the company said.

　　谷神星一号火箭取得“四连胜”：北京时间2022年11月16日14时20分，中国民营航天企业星河动力于酒泉卫星发射中心成功发射谷神星一号（遥四）运载火箭，将搭载的5颗吉林一号高分03D卫星顺利送入预定轨道，该批卫星主要用于提供商业遥感服务。此次任务是该型火箭的连续第四次成功发射，截至目前，星河动力保持了100%的成功率，累计为七家卫星客户完成了14颗卫星发射，再次刷新中国民营商业火箭发射交付的新纪录。

　　China’s 49 top philanthropists donateda record-breaking72.8 billion yuan, according to the Hurun China Philanthropy List 2022 released on Wednesday. Topping the list for the first time was JD.com’s billionaire founder Richard Liu Qiangdong, who donated 14.9 billion yuan, followed by Meituan’s founder and CEO Wang Xing with 14.7 billion yuan and Xiaomi’s Lei Jun with 14.5 billion yuan.

　　刘强东捐赠149亿成为中国首善：胡润研究院16日发布《2022胡润慈善榜》，京东刘强东以149亿元捐赠额首次成为中国首善。美团王兴以147亿元捐赠额位列第二。小米雷军以145亿元捐赠额位列第三。今年上榜的中国“亿级慈善家”人数增加10人，达到49人，创历史新高，他们过去一年捐赠额都超过1亿元，共计捐赠728亿元。

　　NetEase shares plunged 9 percent by Thursday’s close after Blizzard Activision, the California-based gaming publisher behind global hits like World of Warcraft and Overwatch, said it will suspend most of its games in China due to the expiration of licensing agreements with the second-largest gaming company in the country, ending a 14-year licensing partnership. NetEase confirmed the termination and said the two gaming giants were unable to agree on key terms of cooperation.

　　暴雪娱乐单方宣布与网易停止合作：17日消息，暴雪娱乐16日单方面发表声明称，因公司和网易的授权协议将于2023年1月23日到期，其将暂停中国大陆地区多款游戏的服务。今日，网易回应称因双方关键性条款无法达成一致，公司不得不接受暴雪娱乐相关决定。受此影响，网易港股股价遭遇大跌。

　　Earnings reports express

　　财报速递

　　Tencent Holdings reported on Wednesday a 1 percent increase in net profit in the third quarter, with revenue inching down 2 percent. Net profit was 39.9 billion yuan and revenue was 140.1 billion yuan. Social network revenue fell 2 percent to 29.8 billion yuan and the number of MAU of WeChat was 1.3 billion by the end of September, up 3.7 percent over the same period last year. Revenue from online advertising slid 5 percent to 21.5 billion yuan, while that from fintech and business services rose 4 percent to 44.8 billion yuan. Revenue from the international gaming market jumped 3 percent to 11.7 billion yuan, and that from the domestic gaming market dropped 7 percent to 31.2 billion yuan, but it said the video game license issues will finally be resolved.

　　腾讯三季报止滑净利润增2%：11月16日，腾讯发布三季报，2022年第三季度营收1400.93亿元，同比下降2%，跌幅收窄；净利润（Non-IFRS）322.54亿元，同比增2%，告别连续四季度下滑趋势，回归到正增长轨道。其中，金融科技与企业服务板块第三季度收入448亿元，同比增长4%，再超网络游戏板块成为营收贡献最大业务板块。以社交起家的腾讯，截至三季度末，微信及WeChat的合并月活跃账户数达到13.09亿，同比增长3.7%。腾讯游戏三季度收入为429亿元。其中，腾讯本土市场游戏收入为312亿元，同比下跌7%；国际市场收入117亿元，同比增长3%。腾讯高管在晚间的电话会议上表示，腾讯游戏版号问题总会解决的，在不久将来就会有版号发放。

　　Switching gears to financial news

　　金融市场消息

　　China vows to keep the yuan exchange rate basically stable at an appropriate and balanced level, the central bank said in the China Monetary Policy Report Q3 2022 released late Wednesday. "We will adopt a comprehensive set of policies to stabilize expectations, make the yuan exchange rate more flexible, guide enterprises and financial institutions to adopt a risk-neutral philosophy, and resolutely smoothen fluctuations in the exchange rate," said the report. The PBOC pledged to step up efforts to implement a prudent monetary policy and will refrain from issuing excessive amounts of money. But the central bank also warned about a possible inflation rebound, especially changes on the demand side.

　　坚决平抑汇率大起大落：11月16日，中国人民银行发布2022年第三季度中国货币政策执行报告，指出将加大稳健货币政策实施力度，搞好跨周期调节，兼顾短期和长期、经济增长和物价稳定、内部均衡和外部均衡；同时，坚持不搞“大水漫灌”，不超发货币，为实体经济提供更有力、更高质量的支持。报告表示，下一步，人民银行将继续坚持以市场供求为基础、参考一篮子货币进行调节、有管理的浮动汇率制度，坚持市场在人民币汇率形成中起决定性作用，综合施策，稳定预期，增强人民币汇率弹性，引导企业和金融机构树立风险中性理念，坚决平抑汇率大起大落，保持人民币汇率在合理均衡水平上的基本稳定。

　　Foreign direct investment (FDI) into the Chinese mainland, in actual use, expanded 14.4 percent year on year to nearly 1.09 trillion yuan in the first 10 months of the year, the Ministry of Commerce said Thursday. Non-financial outbound direct investment (ODI) reached 627.4 billion yuan in the period, up 10.3 percent year on year.

　　前10月全国实际使用外资增长14.4%：商务部17日表示，2022年1-10月，全国实际使用外资金额(FDI)10898.6亿元人民币，同比增长14.4%，折合1683.4亿美元，增长17.4%。1-10月，我国对外非金融类直接投资(ODI)6274亿元人民币，同比增长10.3%。

　　Country Garden and Agile Group Holdings, two of China’s big non-state property developers, revealed plans this week for third-party share placements to raise funds to repay debt and for general corporate purposes. Country Garden, the country’s biggest homebuilder, aims to raise about HK$3.9 billion, while Agile plans to bank about HK$783 million. The new shares are priced at HK$2.68 each, an almost 18 percent discount on their stock prices.

　　碧桂园雅居乐宣布配股计划：11月16日，雅居乐集团发布公告称，拟以“先旧后新”方式配售2.95亿股股份，募资7.83亿港元，配股价格为2.68港元，较15日收盘价折价17.8%。11月15日，碧桂园公告称，将配售14.63亿股股份，价格为2.68港元/股，这一价格较上一交易日收盘价折让约17.79%；配售事项所得款项净额预计约为38.72亿港元。今天碧桂园、雅居乐股价均有所反弹。

　　Wrapping up with a quick look at the stock market

　　股市收盘情况

　　Chinese stocks fell on Thursday as a flare up in domestic COVID-19 cases dented sentiment. The benchmark Shanghai Composite and the Shenzhen Component each slid 0.1 percent. Hong Kong’s Hang Seng index also closed 1.15 percent lower, and the TECH index dropped 2.2 percent.

　　A股震荡港股收跌：周四A股两市探底回升，沪指3100点失而复得。截止收盘，沪指跌0.15%，深成指跌0.13%，创业板指跌0.71%，两市成交量继续萎缩，成交额9100亿元。港股恒指收跌1.15%，恒生科技指数收跌2.20%。

　　Biz Word of the Day

　　财经词汇划重点

　　Aprivate placementis a sale of stock shares or bonds to pre-selected investors and institutions rather than publicly on the open market.It is an alternative to an initial public offering (IPO) for a company seeking to raise capital for expansion.

　　“配股”是指上市公司在获得必要的批准后，向其现有股东提出配股建议（配售价格一般都比当时的价格低），使现有股东可按其持有上市公司的股份比例认购配股股份的行为。配股是上市公司发行新股的方式之一。

　　

　　Executive Editor: Sonia YU

　　Editor: LI Yanxia

　　Host: Stephanie LI

　　Writer: Stephanie LI

　　Sound Editor: Stephanie LI

　　Graphic Designer: ZHENG Wenjing, LIAO Yuanni

　　Produced by 21st Century Business Herald Dept. of Overseas News.

　　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

　　音频制作：李莹亮

　　设计：郑文静、廖苑妮

　　21世纪经济报道海外部 制作

　　南方财经全媒体集团 出品