Hi everyone. I’m Stephanie LI.

大家好，我是主持人李瑩亮。

Coming up on today’s program.

重點(diǎn)提要 

• Tech giants listed in the US suffered big losses after the SEC released new rules trying to boot them off American stock market; 

• Premier Li Keqiang signalled that China may “cut RRR in due course.”

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

中國經(jīng)濟(jì)要聞

Tough time. US-listed Chinese firms had just suffered a flabbergasted “Black Friday.” 

A brutal selloff for Chinese stocks in the US has now erased more than $1 trillion in value since February. The Nasdaq Golden Dragon China Index – which tracks China-exposed firms listed in the US – plunged 9.1 percent on Friday, the most since 2008. 

It happened right after the United States Securities and Exchange Commission (SEC) released its rules for implementing the Holding Foreign Companies Accountable Act and Chinese ride-hailing giant Didi Global announced its plan to delist from New York.

Didi’s drastic U-turn raised concerns that the antitrust crackdowns that relevant Chinese regulatory authorities have introduced in the past months may extend and expand into broader areas. 

However, China’s top securities regulator said on Sunday that such concerns are misplaced, as "the main purpose was to regulate monopolistic behaviours, protect the interests and data security of small and medium firms, eliminate regulatory vacuum, and prevent the capital's disorderly expansion.”

A spokesperson with the China Securities Regulatory Commission (CSRC) said the regulator has always been open to and fully respect Chinese companies' independent choices of overseas listing venues in compliance with relevant laws and regulations. 

In terms of audit oversight cooperation, the CSRC has recently conducted “candid and constructive communications” with the U.S. SEC and the Public Company Accounting Oversight Board (PCAOB) to address issues in bilateral cooperation and has made positive progress on several important issues.

"Forcing Chinese companies to delist from U.S. stock exchanges is by no means a responsible policy option," the CSRC added.

在滴滴“閃退”和SEC新規(guī)出臺的“雙重夾擊”下，中概股上周遭遇“黑色星期五”，上演集體跳水。隔夜納斯達(dá)克金龍中國指數(shù)跌9.1%，創(chuàng)2008年以來最大跌幅，同日美國科技股也出現(xiàn)大幅下挫。

12月2日美國證券交易委員會(huì)（SEC）通過了《外國公司問責(zé)法》的最終規(guī)定。該法案要求外國公司提供審計(jì)底稿供美國檢查，否則可能3年內(nèi)被勒令退市，釋放出了強(qiáng)烈的信號：企業(yè)赴美上市趨嚴(yán)。

對此，12月5日，中國證監(jiān)會(huì)新聞發(fā)言人答記者問表示，無端打壓在美上市中國企業(yè)，脅迫中國企業(yè)退市，這不僅有悖于市場經(jīng)濟(jì)的基本原則和法治理念，也損害了全球投資者利益和美國資本市場的國際地位，是一種“多輸”的做法，對誰都沒有好處。中國有關(guān)監(jiān)管部門將堅(jiān)定不移推進(jìn)改革開放，充分尊重企業(yè)依法合規(guī)自主選擇上市地。

證監(jiān)會(huì)表示，中國證監(jiān)會(huì)和相關(guān)監(jiān)管部門始終對企業(yè)選擇境外上市地持開放態(tài)度，充分尊重企業(yè)依法合規(guī)自主選擇上市地。近期，個(gè)別媒體報(bào)道中國監(jiān)管部門將禁止協(xié)議控制（VIE）架構(gòu)企業(yè)赴境外上市，推動(dòng)在美上市中國企業(yè)退市，“這完全是誤解誤讀”。

證監(jiān)會(huì)強(qiáng)調(diào)，中國有關(guān)監(jiān)管部門出臺了一系列促進(jìn)平臺經(jīng)濟(jì)規(guī)范發(fā)展的政策措施，其主要目的是規(guī)制壟斷行為，保護(hù)中小企業(yè)權(quán)益和數(shù)據(jù)安全、個(gè)人信息安全，消滅金融監(jiān)管真空，防止資本無序擴(kuò)張。因此，中國政府出臺的相關(guān)政策，并非對特定行業(yè)或民營企業(yè)的打壓，也與企業(yè)境外上市活動(dòng)沒有必然聯(lián)系。

在中美審計(jì)監(jiān)管合作方面，近期，中國證監(jiān)會(huì)與美國SEC、美國公眾公司會(huì)計(jì)監(jiān)督委員會(huì)（PCAOB）等監(jiān)管機(jī)構(gòu)就解決合作中存在的問題進(jìn)行了坦誠、有建設(shè)性的溝通，對一些重點(diǎn)事項(xiàng)推進(jìn)合作方面取得了積極進(jìn)展。

• Chinese Premier Li Keqiang met with the IMF Managing Director Kristalina Georgieva via video link on Friday, pledging that China will continue to implement a prudent monetary policy, formulate policies based on the needs of market players, use a variety of currency tools, cut the reserve requirement ratio in due course, and increase support for the real economy. 

  國務(wù)院總理李克強(qiáng)12月3日下午在中南海紫光閣視頻會(huì)見國際貨幣基金組織總裁格奧爾基耶娃。李克強(qiáng)表示，中國將繼續(xù)實(shí)施穩(wěn)健的貨幣政策，保持流動(dòng)性合理充裕，圍繞市場主體需求制定政策，運(yùn)用多種貨幣工具，適時(shí)降準(zhǔn)，加大對實(shí)體經(jīng)濟(jì)特別是中小微企業(yè)的支持力度，促進(jìn)綜合融資成本穩(wěn)中有降，確保經(jīng)濟(jì)平穩(wěn)健康運(yùn)行。

Greater Bay Area, Greater Future

新使命，大未來

• A delegation of Chinese mainland Olympians concluded their high-profile three-day visit to Hong Kong on Sunday. Members of the delegation included sprint icon Su Bingtian, table tennis Grand Slam winner Ma Long, and Sun Yiwen, who won China's first Olympic gold medal in women's individual epee fencing.

  內(nèi)地奧運(yùn)健兒代表團(tuán)3日至5日訪港。連日來，奧運(yùn)健兒們深入香港社區(qū)、學(xué)校等地，廣泛與香港社會(huì)各界民眾近距離交流互動(dòng)，點(diǎn)燃了香港市民們的體育熱情和拼搏向上的精神。代表團(tuán)中包括“百米飛人”蘇炳添、乒乓球運(yùn)動(dòng)員馬龍、許昕，以及擊劍女子重劍個(gè)人賽金牌得主孫一文等。

• China's first international vaccine innovation center, the Greater Bay Area International Vaccine Innovation Center, was officially inaugurated on Saturday in Shenzhen.  

  12月4日，大灣區(qū)國際疫苗創(chuàng)新中心在深圳坪山區(qū)生物創(chuàng)新產(chǎn)業(yè)園區(qū)正式落成，這是中國首個(gè)國際疫苗創(chuàng)新中心，也是首個(gè)以疫苗生態(tài)創(chuàng)新為核心的創(chuàng)新中心。

Update on COVID-19

疫情簡報(bào)

• The Chinese mainland on Sunday reported 38 new local infections, most were from Inner Mongolia and Heilongjiang province.

  全國昨日新增本土病例38例（內(nèi)蒙古28例，均在呼倫貝爾市；黑龍江7例，均在哈爾濱市；云南2例，均在德宏傣族景頗族自治州；河北1例，在石家莊市）。

Next on industry and company news

產(chǎn)經(jīng)消息及公司新聞

• Another 74 medicines were included in the latest round of China’s centralized drug procurement scheme, which ensures distribution through the country’s vast medical insurance program, the National Healthcare Security Administration of China said last Friday. Seven of the newly listed medicines are for rare diseases. 

  醫(yī)保目錄“上新”：國家醫(yī)保局12月3日公布了2021年國家醫(yī)保藥品目錄調(diào)整結(jié)果，調(diào)整后共有74種新增藥品進(jìn)入目錄，7種罕見病藥物納入到新版醫(yī)保藥品目錄中。新版國家醫(yī)保藥品目錄內(nèi)藥品總數(shù)達(dá)2860種，將于2022年1月1日起執(zhí)行。

• Alibaba Group said on Monday it was re-organizing its international and domestic e-commerce businesses and would appoint a new chief financial officer. The company's deputy CFO, Toby Xu, will succeed Maggie Wu as the company's CFO from April.

  阿里升級“多元化治理”：12月6日，阿里巴巴CEO張勇發(fā)出內(nèi)部信，宣布公司升級“多元化治理”體系，任命戴珊和蔣凡分別負(fù)責(zé)新設(shè)立的“中國數(shù)字商業(yè)”和“海外數(shù)字商業(yè)”兩大板塊。武衛(wèi)不再擔(dān)任阿里巴巴集團(tuán)CFO，由副CFO徐宏接任。

• China’s biggest artificial intelligence firm SenseTime Group is seeking to raise as much as HK$6 billion from a Hong Kong IPO. The company is offering 1.5 billion shares at between HK$3.85 and HK$3.99 apiece. 

  商湯科技IPO：12月6日報(bào)道稱，商湯科技將于今日開始建簿，集資額最多近60億港元。據(jù)悉，商湯今次上市共發(fā)行15億股，其中90%為國際配售，10%屬香港公開發(fā)售，招股價(jià)介乎每股3.85港元至3.99港元。

• The government of Guangdong province summoned Evergrande Chairman Hui Ka Yan late Friday after the company said it might be unable to meet $260 million of obligations under a guarantee. The Guangdong provincial government is sending a working team to the company. China’s central bank stressed that the single case will not impact regular middle- and long-term financing in the market. 

  廣東政府連夜約談許家?。?/span>據(jù)廣東省人民政府網(wǎng)站消息，12月3日，中國恒大集團(tuán)在香港聯(lián)交所發(fā)布了無法履行擔(dān)保責(zé)任的公告，廣東省人民政府對此高度關(guān)注，當(dāng)晚立即約談了中國恒大集團(tuán)實(shí)控人許家印先生。同時(shí)，廣東省人民政府同意向恒大地產(chǎn)集團(tuán)有限公司派出工作組。隨后央行、銀保監(jiān)會(huì)、證監(jiān)會(huì)均對此進(jìn)行回應(yīng)。央行表示，短期個(gè)別房企出現(xiàn)風(fēng)險(xiǎn)，不會(huì)影響中長期市場的正常融資功能。

Switching gears to the financial sector

金融市場要聞

• China will support leading futures companies to accelerate their development and encourage the listing and financing of qualified firms, to set up a number of derivatives and commodities services companies with strong capital and international competitiveness, Fang Xinghai, Vice Chairman of the CSRC said on Sunday.

  12月5日，中國證監(jiān)會(huì)副主席方星海表示，要堅(jiān)定信心推動(dòng)期貨市場建設(shè)，服務(wù)實(shí)體經(jīng)濟(jì)高質(zhì)量發(fā)展，表示要支持行業(yè)領(lǐng)先公司加快發(fā)展，支持期貨公司擴(kuò)寬融資渠道和開展跨境經(jīng)營，鼓勵(lì)符合條件的頭部期貨公司上市融資。

Wrapping up with a quick look at the stock market

最后來看股市收盤情況

• Chinese stocks closed lower on Monday with nearly 3500 stocks recorded losses. The Shanghai Composite lost 0.5 percent, and the Shenzhen Component fell 0.93 percent. The Hang Seng Index cascaded 1.76 percent as the TECH Index tumbled 3.34 percent, notching a record low.

  周一A股股市收盤集體下跌，創(chuàng)業(yè)板指跌2.09%，滬指跌0.5%，深成指跌0.93%。總體上個(gè)股普遍下跌，近3500家飄綠，盤面上，NFT概念、EDR概念等板塊漲幅前列。港股恒生指數(shù)跌1.76%，科技股重挫，恒生科技指數(shù)大跌3.34%創(chuàng)歷史新低。

Biz Word of the Day

財(cái)經(jīng)詞匯劃重點(diǎn)

• Audit working papers are used to document the information gathered during an audit. They provide evidence that sufficient information was obtained by an auditor to support his or her opinion regarding the underlying financial statements.

  審計(jì)工作底稿是指注冊會(huì)計(jì)師在審計(jì)過程中形成的審計(jì)工作記錄和獲取的資料。其記載的審計(jì)證據(jù)和注冊會(huì)計(jì)師的專業(yè)判斷是形成審計(jì)結(jié)論、發(fā)表審計(jì)意見的直接依據(jù)。

（歡迎大家提供意見和反饋，請聯(lián)系主播李瑩亮：liyl@21jingji.com）

Executive Editor: Sonia YU

Editor: LI Yanxia

Host: Stephanie LI

Writer: Stephanie LI, ZHANG Ran

Producer: XIANG Xiufang

Sound Editor: ZHANG Ran, Andy YUAN

Graphic Designer: ZHENG Wenjing, LIAO Wanni

Co-produced by 21st Century Business Herald Dept. of Overseas News & SFC Audio/Video Dept.

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編委:  于曉娜

策劃、編輯：李艷霞 

播音：李瑩亮

撰稿：李瑩亮、張然

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