Hi everyone. I’m Stephanie LI.


Coming up on today’s program.


  • Chinese property developers restart overseas bond financing after a 5-month hiatus;

  • China plans to have 80 percent of EVs in public transport by 2025.

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


Chinese state-owned real estate companies restarted overseas bond issuances in January after five months of suspension, paving the way for a rebound of the industry as more companies are expected to follow suit.

In January, the developers such as China Jinmao and Yuexiu Group took the lead in successfully issuing bonds in Macao, according to media reports, marking the resumption of overseas bond issuances five months after suspension.

China Resources had the highest financing amount in January, totaling 3.5 billion yuan, with an average interest rate of 2.17 percent, according to media reports.

Wanda Commercial Management Group plans to issue US$300 million of three-year term bonds in Singapore, its second US dollar bond issuance this year. It sold a US$400 million bond in Singapore in mid-January.

While the total non-bank financing of real estate enterprises amounted 50.85 billion yuan in January, a year-on-year decrease of 33.1 percent, as data released by China Index Academy on Tuesday showed, things are taking a positive turn followed by the resumption.

Affected by the weeklong Spring Festival holidays, the total amount of non-bank financing in January decreased year-on-year due to the tough economic situation, but the decline narrowed year-on-year, China Index Academy said, suggesting that industry financing has entered a relatively stable period after a year of adjustments.

Experts also noted that the resumption of overseas financing by leading developers shows that confidence in Chinese real estate companies among overseas investors, and their credit level has also risen, reflecting the positive effect of a series of support policies, including lower interest rates and down payments.


克而瑞数据显示,2023年1月,80家典型房企境外债融资50.39亿元,环比增加 91.5%;其中,发债主体不仅包括金茂越秀等央企国企,更有万达商业这样的民营房企。这是时隔多个月之后,房企海外融资重启的标志。







  • China aims to increase the share of electric vehicles in the public transport system to 80 percent in key areas, including bus and taxi services, by 2025, as the country accelerates its steps to promote green transformation amid booming new energy vehicle development. According to a pilot plan of the Ministry of Industry and Information Technology and seven other ministries, China will speed up the full electrification of vehicles used in public transportation between 2023 and 2025, and the building of a charging and swapping infrastructure system that is “moderately advanced, well-balanced, intelligent and efficient”. The country also set the target of adding the same number of public charging piles as the number of EVs newly added to the public transport sector. The number of charging stalls for public transport vehicles is also expected to be no less than 10 percent of that for passenger cars on expressways, the plan said.


Moving on to regional highlights


  • Authorities of Central China’s Henan Province announced on Tuesday that all commercial housing projects supported by local government loans should be completed by the end of October 2023. Relevant authorities of the province vowed to fully implement multiple financial supportive measures to increase sales, while real estate projects will be supported with favorable policies, including bank loans before delivery.


Greater Bay Area, Greater future


  • Guangdong authorities on Wednesday announced a framework of 66 measures governing the Hengqin Cooperation Zone that will further bind the future of Macau to the Chinese mainland. The set of rules made public is set to become effective on March 1, which covers the administration system in the area, and its planning, construction and management, as well as industrial development. Besides, the Hengqin authorities are also looking to build a system for Macau residents that will cover schooling, employment, entrepreneurship, livelihoods, and social services.


Next on industry and company news


  • Immigration authorities across China on Monday handled 676,000 exits and entries, hitting a record high since the COVID-19 outbreak, the National Immigration Administration (NIA) said Tuesday. Monday’s figure jumped by 124.2 percent from the average daily entry and exit trips before Jan. 8, and accounted for nearly 37 percent of the pre-pandemic level. Land ports with Hong Kong and Macao saw 568,000 entries and exits on Monday, accounting for 84 percent of the daily total.


  • The re-launch of outbound group tours has triggered growing resumption of international flights, with China Southern Airlines increasing its international capacity to resume and open 48 round-trip routes to 12 destinations. As of Monday, it had operated a total of 50 international and regional routes, with a weekly flight total of 82. China Eastern Airlines said that its international and regional flights and those of its subsidiaries will return to 60, and reach 410 flights per week as of Feb 28. The resumed routes will mainly be to Southeast Asia, Hong Kong, Macao and Taiwan.


  • Shares of 360 Security Technology soared by the daily limit for a second day on Wednesday after the Chinese internet security firm revealed plans to launch a ChatGPT-like AI chatbot as soon as possible, following a similar move by search engine giant Baidu. The firm’s AI research institute has been investing in AI Generated Content technology, it said yesterday, but it is currently for internal use only and there remains a big gap with the technology level of ChatGPT 3.

    360搭上ChatGPT收获两连板:2月7日和8日,360连续两天涨停板。7日,360在投资者互动平台上对类ChatGPT技术的布局做出了回应,称360搜索是中国搜索引擎的Top2,市场份额为35%,公司的人工智能研究院从2020年开始一直在包括类ChatGPT技术在内的AIGC技术上有持续性的投入,但截至目前仅作为内部业务自用的生产力工具使用,且投资规模及技术水平与当前的ChatGPT 3相比还有较大差距 。

  • Short-video platform Douyin does not have any plans to launch a nationwide takeaway service next month, an insider at the app said Wednesday, after rumors circulating on social media yesterday that said Douyin would launch a food delivery service in China on March 1. Douyin is testing takeaway services in some pilot cities in cooperation with Ele.me, the insider said, adding that the firm also has a group buying delivery service business that is still in the trial phase in Beijing, Shanghai, and Chengdu.


  • Chinese automaker Geely Automobile Holdings reported growing vehicle sales in overseas markets in January, the company said in a filing on Tuesday. Geely exported 15,105 vehicles in January, up about 9 percent year on year. The sales grew 35 percent year on year in the Middle East, 36 percent in Latin America, and 393 percent in the pan-European market. Geely sold 103,452 units last month, down 29 percent from the same period in 2022.


  • The first electric sports utility vehicle(SUV) equipped with a ternary solid-liquid hybrid lithium battery developed by Chinese lithium producer Ganfeng Lithium will debut this year, a unit of the battery material giant announced yesterday. Seres will use Ganfeng LiEnergy’s hybrid lithium battery in its Seres 5 SUV, which will hit the market this year.


  • Major retailers in China slashed the price of Apple’s high-end iPhone 14 models in a rare move after Apple reported a 5 percent year-on-year decline in revenue last quarter. Apple’s online stores on JD.com, China’s major e-commerce platform, showed a markdown of 800 yuan for the iPhone 14 Pro and Pro Max models on Monday, with an additional 50 yuan off if the buyer became a member of the online store. A basic iPhone 14 Pro is sold 10 percent off at 7,199 yuan.

    iPhone14最高直降800元:近日在京东平台上,苹果iPhone14系列所有机型都提供立减800元的优惠券,如果是A+会员,指定机型可以再减50元。商品销售页面显示,2月5日-2月15日,买iPhone14 Pro系列新机有800元的促销券,以iPhone14 Pro 128G 7999元售价来计,促销价为7199元,降幅10%。此前,苹果公布了截至去年12月31日的2023财年第一财季业绩,期内营收同比下降5%,创下了自2016年9月以来最大的季度营收降幅。

  • Chinese lithium salts producer Yahua Industrial Group said late Tuesday it had inked a deal to supply South Korean chemical and electric battery giant LG Chem with 30,000 tons of battery-grade lithium hydroxide over four years, according to an agreement the pair signed yesterday.

    雅化与LGC签署4年电池级氢氧化锂大单:2月7日晚间,雅化集团公告称,公司下属全资子公司雅安锂业与LG Chem, Ltd.签订了电池级单水氢氧化锂《采购协议》,协议有效期为4年,从2023年至2026年。2023-2026年协议数量总计约3万吨,各年度数按照协议约定执行。

Switching gears to financial news


  • China’s central bank said on Tuesday that it has signed a memorandum of understanding (MOU) on setting up yuan clearing arrangements in Brazil with the Central Bank of Brazil. The establishment of yuan clearing arrangements in Brazil will help Chinese and Brazilian firms and financial institutions with cross-border transactions using the yuan, further facilitating bilateral trade and investment, the People’s Bank of China said in a statement.


Wrapping up with a quick look at the stock market


  • Chinese stocks fell on Wednesday with the benchmark Shanghai Composite losing 0.5 percent and the Shenzhen Component slid 0.6 percent. Hong Kong’s Hang Seng index also closed 0.1 percent lower, and the TECH index dropped 1.9 percent.


Biz Word of the Day


  • ChatGPT (Chat Generative Pre-trained Transformer)is a chatbot developed by OpenAI and launched in November 2022. It is built on top of OpenAI’s GPT-3 family of large language models and has been fine-tuned (an approach to transfer learning) using both supervised and reinforcement learning techniques.



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.

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