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China Central Bank to Offer Cheap Loans to Support Developers’ Bonds

Julie Zhu and Engen Tham wrote . . . . . . . . .

China’s central bank will offer cheap loans to financial firms for buying bonds issued by property developers, four people with direct knowledge of the matter said, the strongest policy support yet for the crisis-hit sector.

The People’s Bank of China (PBOC) hopes the loans will boost market sentiment toward the heavily indebted property sector, which has lurched from crisis to crisis over the past year, and rescue a number of private developers, said the people, who asked not to be named as they were not authorised to speak to the media.

China has stepped up support in recent weeks for the property sector, a pillar accounting for a quarter of the world’s second-biggest economy. Many developers defaulted on their debt obligations and were forced to halt construction.

The country’s biggest banks this week pledged at least $162 billion in credit to developers.

The PBOC loans, through its relending facility, are expected to be at much lower than the benchmark interest rate and would be implemented in the coming weeks, giving financial institutions more incentive to invest in private developers’ onshore bonds, two sources said.

Terms such as the interest rate on the loans were not immediately known.

The PBOC is also drafting a “white list” of good-quality and systemically important developers that would receive wider support from Beijing to improve their balance sheets, two of the sources said.

The central bank did not immediately respond to a request for comment on the planned measures.

At least three private developers – including Longfor Group Holdings Ltd, Midea Real Estate Holding Ltd and Seazen Holdings – received the green light this month to raise a total of 50 billion yuan ($7 billion) in debt.

If there were not enough demand from investors for such new bonds, the PBOC would likely step in to provide liquidity via the relending facility for the rest of the issuance, said one of the four people and another source.

Hong Kong’s Hang Seng Mainland Properties Index was up as much as 4.7% on Friday, adding 1 percentage point after Reuters reported the PBOC moves. China’s top developer by sales, Country Garden, was up 10%, CIFI Holdings was up more than 5% and Longfor nearly 4%.

FROM CRACKDOWN TO AGGRESSIVE SUPPORT

Relending is a targeted policy tool the PBOC typically uses to make low-cost loans to banks to support the slowing economy, as the central bank faces limited room to cut interest rates on concerns about capital flight.

The PBOC in recent months has used the relending facility to support sectors including transport, logistics and tech innovation that were hard hit by the COVID-19 pandemic or are favoured by long-term state policies.

Beijing’s aggressive support for the property sector marks a reversal from a crackdown begun in 2020 on speculators and indebted developers in a broad push to reduce financial risks.

As a result of the crackdown, though, property sales and prices fell, developers defaulted on bonds and suspended construction. The construction halts have angered homeowners who have threatened to stop mortgage payments.

The PBOC also plans to provide 100 billion yuan ($14 billion) in M&A financing facilities to state-owned asset managers mainly for their acquisitions of real estate projects from troubled developers, two sources said.

Chinese media reported on Monday the central bank planned to provide 200 billion yuan in interest-free relending loans to commercial banks through the end of March for housing completions.

Among other recent official support, China’s interbank bond market regulator said this month it would widen a programme to support about 250 billion yuan ($35 billion) of debt offerings by private firms.

Much of Beijing’s previous support targeted state-owned developers.

Yi Huiman, chairman of China’s securities regulator, said on Monday the country must implement plans to improve the balance sheets of “good quality” developers.

Fitch Ratings said on Thursday private Chinese developers face higher liquidity risk, in terms of debt structure with greater short-term maturity pressure, than state-owned peers as banks and other creditors are becoming reluctant to lend.


Source : Reuters

China’s Central Bank Urges Banks to Maintain Stable Property Financing

China’s financial regulators have asked banks to stabilize lending to property developers and construction firms, the latest effort by policymakers to turn around the real-estate crisis and bolster economic growth.

Authorities support the “reasonable” extension of existing real estate development loans and trust loans, according to a statement posted on the People’s Bank of China’s website after a Monday meeting with commercial banks. The gathering was jointly organized by the central bank and the banking regulator.

The regulators reiterated that the “reasonable” demand of home buyers for mortgages will be met. A key financing support program must be “used well” to help private property developers sell bonds, while legal protection and regulatory policy support for special loans aimed at ensuring housing-project delivery will be improved to promote the stable and healthy development of the market, the statement said.

The call is the latest in a slew of actions taken by the government to try to stop the more-than-yearlong slump in the real estate market that’s dragging down China’s economic growth and undermining local-government income. Bond defaults by cash-strapped developers have sent shockwaves across the financial markets, while delays in property-project delivery have driven homebuyers to stop mortgage payments in protest.

In a possible sign of willingness to shift away from the previous tightening stance on the real estate sector, PBOC Governor Yi Gang emphasized Monday that the industry is critical for the economy. “The property sector is linked to many upstream and downstream industries, and its healthy operating cycle is significant for the economy,” Yi said at a financial forum in Beijing.

Meanwhile, the PBOC is planning to provide 200 billion yuan ($28 billion) in interest-free relending loans to commercial banks through the end of March, 2023, in a move to support them to provide matching funds for stalled property projects, China Business News reported, citing the central bank’s meeting with commercial banks on Monday.

Adding to the positive messages sent by the authorities, Yi Huiman, chairman of the China Securities Regulatory Commission, said at the same event that his agency will support property developers’ reasonable bond financing needs and support mergers and acquisitions in the sector.

Support Package

The main points from Monday’s meeting are similar to a 16-point package authorities rolled out earlier this month to help embattled developers, who have at least $292 billion of onshore and offshore borrowing maturing through the end of next year. The push followed regulators’ orders for banks to dole out hundreds of billions of yuan in financing for developers in the remainder of this year.

The remarks by Yi Gang are “a rare recognition of the property sector’s irreplaceable significance” by a top financial official, according to Lu Ting, chief China economist at Nomura Holdings Inc. in Hong Kong. The government’s recent supportive policies “demonstrate that Beijing is willing to reverse most of its financial-tightening measures,” he added.

At the meeting on Monday, the PBOC and the China Banking and Insurance Regulatory Commission also urged banks to expand medium- and long-term lending to help policy bank financing drive effective investment. Credit demand from manufacturers and service providers should be supported via the special relending loan program for equipment upgrading, the regulators added.

Yi said at the forum that the outstanding size of the relending programs targeting sectors such as technology innovation, transport and logistics and equipment upgrading is about 3 trillion yuan ($419 billion), adding they will be ended after policy goals are reached.

Stocks Down

A Bloomberg gauge of Chinese developers’ stocks ended the day 2% lower, after sinking as much as 4% in the morning. The Shanghai Stock Exchange Property Index closed 0.5% lower after earlier being down 2.7%.

PBOC Deputy Governor Pan Gongsheng and CBIRC Vice Chairman Xiao Yuanqi made comments at the Monday meeting, which was attended by heads of institutions including the major state-owned banks, joint stock lenders, and the branches of the central bank and the banking regulator, according to the statement.


Source : BNN Bloomberg


Charts: Both U.S. Manufacturing and Services PMI Dropped Below 50 in November 2022

Source : Bloomberg and Nikkei

Charts: U.S. New Homes Sales Unexpectedly Rose in October 2022

Median Prices Jumped to All-time High

Source : Bloomberg

国务院关于数字经济发展情况的报告

国家发展和改革委员会主任 何立峰 . . . . . . . . .

全国人民代表大会常务委员会:

按照全国人大常委会监督工作计划安排,受国务院委托,现就数字经济发展情况报告如下,请审议。

党的二十大对加快建设数字中国作出重要部署。习近平总书记强调,要站在统筹中华民族伟大复兴战略全局和世界百年未有之大变局的高度,统筹国内国际两个大局、发展安全两件大事,充分发挥海量数据和丰富应用场景优势,促进数字技术和实体经济深度融合,赋能传统产业转型升级,催生新产业新业态新模式,不断做强做优做大我国数字经济。李克强总理指出,要加快数字化发展,打造数字经济新优势,协同推进数字产业化和产业数字化转型,加快数字社会建设步伐,提高数字政府建设水平,营造良好数字生态,建设数字中国。栗战书委员长对相关工作作出重要批示,韩正副总理等国务院领导同志提出明确要求。发展改革委会同有关方面认真贯彻落实党中央、国务院决策部署,牵头建立数字经济发展部际联席会议制度,扎实做好数字经济发展各项工作。

一、我国数字经济发展成效显著

党的十八大以来,我国深入实施网络强国战略、国家大数据战略,先后印发数字经济发展战略、“十四五”数字经济发展规划,有关部门认真落实各项部署,加快推进数字产业化和产业数字化,推动数字经济蓬勃发展。十年来,我国数字经济取得了举世瞩目的发展成就,总体规模连续多年位居世界第二,对经济社会发展的引领支撑作用日益凸显。

(一)数字基础设施实现跨越式发展。统筹谋划新型基础设施建设布局,加快推动高速泛在、天地一体、云网融合、智能敏捷、绿色低碳、安全可控的智能化综合性数字基础设施建设。一是信息通信网络建设规模全球领先。深入实施“宽带中国”战略,建成了全球最大的光纤和移动宽带网络,光缆线路长度从2012年的1479万公里增加到2021年的5481万公里,增长2.7倍。截至2022年7月,我国已许可的5G中低频段频谱资源共计770MHz,许可的中低频段频率资源总量位居世界前列,累计建成开通5G基站达196.8万个。网络基础设施全面向IPv6演进升级,IPv6活跃用户数达6.97亿。深入实施工业互联网创新发展战略,网络、平台、安全体系以及工业互联网标识解析体系基本建成。二是信息通信服务能力大幅提升。我国移动通信实现从“3G突破”到“4G同步”再到“5G引领”的跨越,6G领域的愿景需求研究、关键技术研发、国际交流合作加快。互联网普及率从2012年的42.1%提高到2021年的73%,上网人数达10.32亿人,移动电话用户总数达16.43亿户,其中5G移动电话用户达3.55亿户,约占全球的四分之三。面向中小企业连续4年推进宽带和专线降费,让利超过7000亿元。相比2012年,宽带网络平均下载速率提高近40倍,移动网络单位流量平均资费降幅超95%。三是算力基础设施达到世界领先水平。全国一体化大数据中心体系基本构建,“东数西算”工程加快实施。截至2022年6月,我国数据中心机架总规模超过590万标准机架,建成153家国家绿色数据中心,行业内先进绿色中心电能使用效率降至1.1左右,达到世界领先水平。建成一批国家新一代人工智能公共算力开放创新平台,以低成本算力服务支撑中小企业发展需求。

(二)数字产业创新能力加快提升。深入实施创新驱动发展战略,推进关键核心技术攻关,加快锻造长板、补齐短板,构建自主可控产业生态。一是关键核心技术取得突破。数字技术研发投入逐年上升,量子计算原型机、类脑计算芯片、碳基集成电路等基础前沿领域取得原创性突破,人工智能、区块链、物联网等新兴领域形成一批自主底层软硬件平台和开源社区,关键产品技术创新能力大幅提升,初步形成规模化应用效应。二是产业创新活力不断提升。产业创新能力取得突破性进展,2021年我国数字经济核心产业发明专利授权量达27.6万件,占同期全社会发明专利授权量的39.6%。关键数字技术中人工智能、物联网、量子信息领域发明专利授权量居世界首位。不断发挥金融支持数字经济发展作用,深化股票发行注册制改革,2021年至2022年6月,近150家数字经济相关企业在主板、科创板、创业板完成首发上市,募集资金近3000亿元。持续扩大数字经济产业中长期贷款投放,截至2022年6月末,计算机、通信和其他电子设备制造业中长期贷款余额1.48万亿元。三是数字产业快速成长。数字经济核心产业规模加快增长,全国软件业务收入从2012年2.5万亿元增长到2021年9.6万亿元,年均增速达16.1%。截至2021年,我国工业互联网核心产业规模超过1万亿元,大数据产业规模达1.3万亿元,并成为全球增速最快的云计算市场之一,2012年以来年均增速超过30%。

(三)产业数字化转型提档加速。深入推进企业“上云用数赋智”,加快推动工业互联网、数字商务、智慧农业发展,促进传统产业全方位、全链条转型升级。一是制造业数字化转型持续深化。信息化和工业化融合不断走深向实,企业数字技术应用水平显著提升。截至2022年6月底,我国工业企业关键工序数控化率、数字化研发设计工具普及率分别达55.7%、75.1%,比2012年分别提升31.1个和26.3个百分点。截至2022年7月底,“5G+工业互联网”建设项目超过3100个,形成一系列新场景、新模式、新业态。全国具备行业、区域影响力的工业互联网平台超过150个,重点平台工业设备连接数超过7900万台套,服务工业企业超过160万家,助力制造业降本增效。智能制造工程深入实施,通过智能化改造,110家智能制造示范工厂的生产效率平均提升32%,资源综合利用率平均提升22%,产品研发周期平均缩短28%,运营成本平均下降19%,产品不良率平均下降24%。二是服务业数字化水平显著提高。全国网络零售市场规模连续9年居于世界首位,从2012年的1.31万亿元增长到2021年的13.1万亿元,年均增速达29.15%。近年来,我国电子商务交易额保持快速增长,由2012年的8万亿元增长至2021年的42.3万亿元,年均增长20.3%。电子商务、移动支付规模全球领先,网约车、网上外卖、数字文化、智慧旅游等市场规模不断扩大。三是农业数字化转型稳步推进。2021年,农作物耕种收综合机械化率超过72%,农机应用北斗终端超过60万台套,产品溯源、智能灌溉、智能温室、精准施肥等智慧农业新模式得到广泛推广,大幅提高了农业生产效率。

(四)公共服务数字化深入推进。加快推进数字政府建设,不断提升数字化公共服务水平。一是“互联网+政务服务”取得显著成效。全国一体化政务服务平台基本建成,“一网通办”“异地可办”“跨省通办”广泛实践。全国96.68%的办税缴费事项实现“非接触式”办理,全面数字化电子发票试点稳步推进,电子发票服务平台用户数量突破千万级。联合国电子政务调查报告显示,我国电子政务在线服务指数排名从2012年全球第78位提高到目前的第9位,企业、群众办事更加便捷高效。二是数字惠民水平不断提升。全国中小学(含教学点)互联网接入率达100%,住房公积金小程序服务1.64亿缴存人,社会保障卡持卡人数达13.63亿人,电子社保卡领用人数达6.19亿人,全国已审批设置1700多家互联网医院。在抗击新冠肺炎疫情期间,线上教学、互联网诊疗、线上健身等线上服务和无接触配送有力保障了居民需求。三是数字城乡建设纵深推进。新型智慧城市建设取得积极进展,城市信息模型平台和运行管理服务平台建设稳步推进,全国国土空间规划数字化监管平台基本建成,数字孪生流域、水网、水利工程加快建设,智慧交通、应急、广电等建设成效显著。数字乡村建设加快推进,促进乡村宜居宜业、农民富裕富足。全国现有行政村全面实现“村村通宽带”,农村通信难问题得到历史性解决。乡村治理数字化助力强村善治,党务、村务、财务“三务”在线公开率超过70%。乡村信息服务体系逐步健全,累计建设运营益农信息设施46.7万个,提供各类服务9.8亿人次。“互联网+”农产品出村进城带动农民增收,2021年全国农产品网络零售额达4221亿元。

(五)网络安全保障和数字经济治理水平持续提升。在全国人大的指导推动下,加快健全法律法规体系,强化网络安全机制、手段、能力建设,完善数字经济治理体系,提升网络风险防范能力,推动数字经济健康发展。一是法律和政策制度体系逐步健全。相继颁布实施《网络安全法》《电子商务法》《数据安全法》《个人信息保护法》,修改《反垄断法》,制定新就业形态劳动者权益保障政策。中央全面深化改革委员会第二十六次会议审议通过了《关于构建数据基础制度 更好发挥数据要素作用的意见》,初步构建了数据基础制度体系的“四梁八柱”。二是网络安全防护能力持续增强。建立网络安全监测预警和信息通报工作机制,持续加强网络安全态势感知、监测预警和应急处置能力。完善关键信息基础设施安全保护、数据安全保护和网络安全审查等制度,健全国家网络安全标准体系,完善数据安全和个人信息保护认证体系,确保国家网络安全、数据和个人隐私安全。基本建成国家、省、企业三级联动的工业互联网安全技术监测服务体系。三是数字经济治理能力持续提升。建立数字经济部际联席会议等跨部门协调机制,强化部门间协同监管。提升税收征管、银行保险业监管、通关监管、国资监管、数字经济监测和知识产权保护、反垄断、反不正当竞争、网络交易监管等领域的信息化水平,推动“智慧监管”。有序推进金融科技创新监管工具试点、资本市场金融科技创新试点、网络市场监管与服务示范区等工作,探索新型监管机制。

(六)数字经济国际合作行稳致远。习近平总书记在第二届世界互联网大会上提出“构建网络空间命运共同体”理念,深入阐释全球互联网发展治理的“四项原则”“五点主张”,得到国际社会积极响应和广泛认同。习近平总书记在二十国集团(G20)罗马峰会上宣布中方将申请加入《数字经济伙伴关系协定》(DEPA),彰显中国开放姿态。我与各方以此为遵循,推进高质量共建“一带一路”,加强在网络基础设施、数字产业、网络安全等方面的合作,建设21世纪数字丝绸之路,与世界各国人民共享数字经济发展红利。一是积极提出“中国倡议”。提出全球发展倡议,将数字经济作为倡议重点领域。发起《携手构建网络空间命运共同体行动倡议》《“一带一路”数字经济国际合作倡议》《金砖国家数字经济伙伴关系框架》《金砖国家制造业数字化转型合作倡议》等,共同构建和平、安全、开放、合作、有序的网络空间。截至目前,已与16个国家签署“数字丝绸之路”合作谅解备忘录,与24个国家建立“丝路电商”双边合作机制,中国—中东欧国家、中国—中亚五国电子商务合作对话机制建设取得积极进展,中国—东盟信息港、中阿网上丝绸之路建设成效日益显著。二是推动共享“中国红利”。主办“一带一路”国际合作高峰论坛、世界互联网大会等国际会议,搭建全球数字经济交流合作平台。累计建设34条跨境陆缆和多条国际海缆,推动网络基础设施互联互通。中国电商平台助力全球中小企业开拓中国市场,2021年我国跨境电商进出口规模近2万亿元。在非洲20多个国家实施“万村通”项目,共享数字经济发展红利。加强人才交流,举办系列研修研讨,实施学历学位项目,积极分享产业创新升级、数字经济等领域实践经验。三是积极提供“中国方案”。深度参与数字经济国际治理,推进G20、亚太经合组织机制下数字经济合作,推动构建开放、公平、非歧视的数字营商环境,促进数字创新、数字技能与素养、数字化转型等务实合作,引导包容性规则制定。

成绩来之不易,经验弥足珍贵。十年来的成绩,根本在于以习近平同志为核心的党中央的坚强领导,有习近平新时代中国特色社会主义思想的科学指引,习近平总书记的系列重要指示批示,为推动数字经济发展指明了方向,提供了根本遵循;在于中国特色社会主义制度的优越性和先进性,为我国从工业经济向数字经济时代迈进提供了前提和基础;在于充分发挥集中力量办大事的制度优势,为提高数字技术基础研发能力,打好关键核心技术攻坚战提供了条件和可能;在于依托超大规模市场和完备产业体系优势,为数字技术快速大规模应用和迭代升级,新业态新模式蓬勃发展创造了机会和空间。十年来的探索,深化了我们对数字经济发展趋势和规律的认识,只有正确处理好国内和国际、发展和安全、政府和市场的关系,牢牢牵住数字关键核心技术自主创新这个“牛鼻子”,不断推进数字技术与实体经济深度融合,赋能传统产业转型升级,催生新产业新业态新模式,才能为数字经济发展注入源源不断的动力。十年来的实践,坚定了我们推动数字经济发展的信心,只要坚决贯彻落实党中央决策部署,勇于进取、攻坚克难、奋发作为,完全有能力有条件战胜任何艰难险阻、应对各种风险挑战,不断做强做优做大我国数字经济。

二、当前面临的总体形势

当今世界正经历百年未有之大变局,我国数字经济发展的内外部环境正在发生深刻变化,既有错综复杂国际环境带来的新矛盾新挑战,也有我国社会主要矛盾变化带来的新特征新要求。

放眼全球,新一轮科技革命和产业变革深入发展,互联网、大数据、云计算、人工智能、区块链等数字技术创新活跃,数据作为关键生产要素的价值日益凸显,深入渗透到经济社会各领域全过程,数字化转型深入推进,传统产业加速向智能化、绿色化、融合化方向转型升级,新产业、新业态、新模式蓬勃发展,推动生产方式、生活方式发生深刻变化,数字经济成为重组全球要素资源、重塑全球经济结构、改变全球竞争格局的关键力量。世界主要国家都在加紧布局数字经济发展,制定战略规划、加大研发投入,力图打造未来竞争新优势。

立足国内,党的二十大擘画了以中国式现代化全面推进中华民族伟大复兴的使命任务,明确了未来五年是全面建设社会主义现代化国家开局起步的关键时期,作出了加快构建新发展格局,着力推动高质量发展的重要部署,对推进数字技术创新、深化数字化转型、建设数字中国提出了更高要求。我国网民数量、数据资源、数字化应用场景全球领先,人民日益增长的美好生活需要还将催生更大规模、更加多元的内需市场,将为数字经济发展创造无限可能。还要看到,我国数字经济发展的外部环境也在发生深刻变化,个别国家为维护自身科技垄断和霸权地位,遏制打压我国数字技术和数字产业创新发展,我们必须把数字技术的命脉牢牢掌握在自己手中,在科技自立自强上取得更大进展,才能不断提高我国发展的竞争力和持续性,在日趋激烈的国际竞争中把握主动、赢得未来。

与此同时,我国数字经济还存在大而不强、快而不优等问题,突出表现在四个方面:一是关键领域创新能力不足。在操作系统、工业软件、高端芯片、基础材料等领域,技术研发和工艺制造水平落后于国际先进水平。二是传统产业数字化发展相对较慢。农业、工业等传统产业数字化还需深化,部分企业数字化转型存在“不愿”“不敢”“不会”的困境,中小企业数字化转型相对滞后。三是数字鸿沟亟待弥合。不同行业、不同区域、不同群体的数字化基础不同,发展差异明显,甚至有进一步扩大的趋势。四是数字经济治理体系还需完善。适应数字经济发展的规则制度体系有待健全,数据要素基础制度体系尚在建设,既能激发活力又能保障安全的平台经济治理体系需要完善,与相关法律法规配套的各类实施细则亟待出台,数字经济国际治理参与度需进一步提升。跨部门协同、多方参与的治理机制还需完善,治理能力仍需持续提高。

“十四五”时期是我国全面建成小康社会、实现第一个百年奋斗目标之后,乘势而上开启全面建设社会主义现代化国家新征程、向第二个百年奋斗目标进军的第一个五年。面向未来,我们要保持战略定力,充分发挥我国社会主义制度优势、新型举国体制优势、超大规模市场优势,强化目标导向和问题导向,牢牢抓住数字技术发展主动权,把握新一轮科技革命和产业变革发展先机,大力发展数字经济。

三、下一步工作安排

以习近平新时代中国特色社会主义思想为指导,深入贯彻党的二十大精神,按照党中央、国务院决策部署和全国人大常委会审议意见要求,统筹国内和国际、发展和安全,坚持科技自立自强,以数据为关键要素,以推动数字技术与实体经济深度融合为主线,以协同推进数字产业化和产业数字化,赋能传统产业转型升级为重点,以加强数字基础设施建设为基础,以完善数字经济治理体系为保障,不断做强做优做大我国数字经济。到2025年,数字经济迈向全面扩展期,数字化创新引领发展能力大幅提升,智能化水平明显增强,数字技术与实体经济深度融合取得显著成效,具有国际竞争力的数字产业集群初步形成,数字经济治理体系更加完善,我国数字经济竞争力和影响力稳步提升。展望2035年,数字经济迈向繁荣成熟期,力争形成统一公平、竞争有序、成熟完备的数字经济现代市场体系,数字经济发展基础、产业体系发展水平位居世界前列。

(一)集中力量推进关键核心技术攻关,牢牢掌握数字经济发展自主权。以国家战略需求为导向,瞄准全球数字技术基础前沿领域和关键核心技术重大问题,积聚力量进行原创性引领性数字技术攻关。加大集成电路、新型显示、关键软件、人工智能、大数据、云计算等重点领域核心技术创新力度。着力提升基础软硬件、核心电子元器件、关键基础材料和智能制造装备的供给水平,加快锻造长板、补齐短板。打造原创技术策源地,强化原创技术供给,建设新型创新主体,培育创新生态体系。推动数字技术成果转化,以数字技术与各领域融合应用为导向,优化创新成果快速转化机制,打造安全可靠、系统完备的产业发展生态。

(二)适度超前部署数字基础设施建设,筑牢数字经济发展根基。完善信息通信网络建设,深入实施新型基础设施建设专项,持续推动5G网络规模化部署和融合应用,积极培育垂直行业应用场景,建设面向重点区域和重点行业的人工智能基础设施,优化IPv6性能和服务能力。加快建设空间信息基础设施,系统推进北斗产业化重大工程,推进构建民商统筹、集约高效的卫星遥感系统,加强民用遥感卫星应用,建设高低协同的卫星通信系统,推动卫星互联网加快发展。统筹布局绿色智能的数据与算力基础设施,推进“东数西算”工程,建设完善全国一体化大数据中心体系,加快国家绿色数据中心建设。全面发展融合基础设施,加强工业互联网新型基础设施建设,推动车联网部署应用,加快交通、能源、民生、文化、环境等领域基础设施数字化改造。

(三)大力推动数字产业创新发展,打造具有国际竞争力的产业体系。聚焦人工智能、先进计算等重点领域,培育一批掌握关键核心技术、具有国际竞争力的生态主导型企业。加强面向多元化应用场景的技术融合和产品创新,打好关键核心技术攻坚战,提升产业链关键环节竞争力,保障产业链供应链稳定。不断培育壮大云计算、大数据、区块链、工业软件等数字产业,探索建设中国特色的开源生态。推动数字产业集群化发展,高质量建设中国软件名城、名园,提升软件产业集聚度,打造世界级数字经济产业集群。充分激发市场活力,支持互联网企业不断加强技术创新,提升核心竞争力,鼓励平台企业依托市场、技术、数据等优势,赋能实体经济,支持平台企业不断提升国际化发展水平。

(四)加快深化产业数字化转型,释放数字对经济发展的放大、叠加、倍增作用。加快装备数字化发展,组织专项工程,打造标杆企业,发挥数字协同平台等公共服务平台以及龙头骨干企业的赋能作用,带动中小企业数字化改造,提升“上云用数赋智”水平。推动新一代信息技术与制造业融合发展,实施制造业数字化转型发展行动、工业互联网创新发展战略、智能制造工程,深化“5G+工业互联网”融合发展,推动建设5G全连接工厂,加快培育“专精特新”企业和制造业单项冠军企业,建立工业互联网安全分类分级管理制度,完善公共服务体系,丰富解决方案供给,加快提升工业大数据价值。组织实施数字化绿色化协同转型发展行动计划,推动数字产业绿色低碳发展,加快数字技术赋能行业绿色化转型。推进“三农”综合信息服务,创新发展智慧农业,提升农业数字化水平。大力发展数字商务,持续推进“数商兴农”,创新发展数字内容,培育新兴文化业态,加快商贸、物流、金融等服务业数字化,促进一二三产业融合发展。培育转型支撑服务生态,布局数字化转型促进中心,降低数字化转型门槛。

(五)持续提升数字公共服务水平,不断满足人民美好生活需要。推动政务信息化共建共用,持续提高“互联网+政务服务”效能,强化政务数据共享和业务协同,提升政务服务标准化、规范化、便利化水平。深化“互联网+社会服务”,推进教育教学、体育健身、医疗健康、文化服务等领域数字化,提高公共服务资源数字化供给和网络化服务水平。强化就业、社保、养老、托育、助残等重点民生领域社会服务供需对接,加快完善全国统一的社会保险公共服务平台,提升服务资源配置效率和共享水平。加大适老化智能终端供给,加快推动信息无障碍建设,运用数字技术为弱势群体生活、就业、学习等增加便利。统筹推进智慧城市和数字乡村融合发展,大力推进新型城市基础设施建设,加快智能设施和公共服务向乡村延伸覆盖,推进城乡要素双向自由流动,形成以城带乡、共建共享的数字城乡融合发展格局。

(六)不断完善数字经济治理体系,推动数字经济规范健康持续发展。依托数字经济部际联席会议等机制,强化部门协同,加强各项政策协调。加快出台数据要素基础制度及配套政策,推进公共数据、企业数据、个人数据分类分级确权授权使用,构建数据产权、流通交易、收益分配、安全治理制度规则,统筹推进全国数据要素市场体系。持续深化对数字经济发展规律的研究,统筹发展和安全,完善制度体系,规范投资审查流程和办法,细化反垄断执法标准,加强灵活就业和新业态形态劳动者权益保障,增强市场主体活力。支持和引导平台经济规范健康持续发展,完成平台经济专项整改,实施常态化监管,集中推出一批“绿灯”投资案例。完善数字经济统计监测,积极开展数字经济统计核算与分析,完善数字经济统计方法制度,及时反映数字经济发展态势。

(七)全面加强网络安全和数据安全保护,筑牢数字安全屏障。贯彻国家网络安全、数据安全等法律法规,落实网络安全等级保护、关键信息基础设施安全保护等制度要求,强化网络、数据等安全保障体系建设,健全网络应急事件预警通报和应急处置机制,强化网络安全技术措施同步规划、同步建设、同步使用要求,推动网络安全产业高质量发展,增强网络安全防护能力。建立健全数据安全治理体系,完善数据分类分级保护制度,规范数据全生命周期管理,加强数据跨境流动安全管理,推动数据安全产业发展,加强个人信息保护,提升数据安全保障水平,提升防诈反诈技防水平,完善长效治理机制。强化数字经济安全风险综合研判,防范各类风险叠加可能引发的经济风险、技术风险和社会稳定问题。

(八)积极参与数字经济国际合作,推动构建网络空间命运共同体。推进全球发展倡议,落实全球发展高层对话会数字经济领域成果,在联合国贸发会议、金砖国家、上合组织、东盟等多边和区域框架下开展数字经济交流合作。主动参与多边机制和国际组织数字经济议题谈判,积极推进加入《数字经济伙伴关系协定》(DEPA),在世界贸易组织、《区域全面经济伙伴关系协定》(RCEP)等框架下推动电子商务规则构建,开展双多边数字经济治理合作,构建良好国际环境。加快贸易数字化发展,大力发展跨境电商,继续加强跨境电商综试区建设,打造跨境电商产业链和生态圈。务实推进数字经济交流合作,推动“数字丝绸之路”走深走实,拓展“丝路电商”全球布局。鼓励数字经济企业“走出去”,提升国际化运营能力,高质量开展智慧城市、电子商务、移动支付等领域合作。

委员长、各位副委员长、秘书长、各位委员,我们将在以习近平同志为核心的党中央坚强领导下,增强“四个意识”,坚定“四个自信”,做到“两个维护”,切实把思想认识行动统一到习近平总书记重要讲话和指示批示精神上来,坚定不移贯彻落实党中央、国务院决策部署,按照本次会议审议提出的意见,积极采取有效举措,不断做强做优做大我国数字经济,为推动我国经济高质量发展提供有力支撑。


Source : 中国人大

‘No Tears Left’: Hong Kong Property Agents Resort to Desperate Ads

Olivia Tam and Shawna Kwan wrote . . . . . . . . .

Property agents in Hong Kong are resorting to increasingly wry advertising slogans to attract potential buyers during the city’s worst housing slump in years.

“Born in the Wrong Time,” “No Tears Left to Cry,” “The Cut Is Deep, The Love Is Real” — these are just some of the catch lines being used on home listing ads, underscoring the desperation of agents and owners. On one level it’s worked: Social-media sites are now flooded with these over-the-top descriptions. But sellers are still finding it hard to offload properties.

Rising interest rates are weighing on a property market that has already been battered by a population exodus and Covid curbs. Hong Kong’s one-month rate, known as Hibor, has increased to the highest level since 2008 due to the city’s currency peg with the greenback. Expensive borrowing costs coupled with an economic contraction have made would-be buyers cautious.

The number of unsold new homes in Hong Kong increased to the highest in more than 15 years in the third quarter. Even the city’s powerful developers may need to offer discounts to sell vacant units, according to Bloomberg Intelligence.

Ada Chan, a 42-year-old HR manager, recently had to stomach a loss of HK$5.4 million ($690,000) to sell her three-bedroom apartment near the University of Hong Kong for HK$13.3 million. She said it was her biggest loss on property investments. Even with multiple price cuts, it took Chan more than a year and a half to find a buyer for the 500-square-foot (46-square-meter) flat.

Prices of used homes have declined 11% since the beginning of the year. Goldman Sachs Group Inc. is expecting values to plummet 30% through 2023 from last year’s levels.

“I’m not optimistic about the long-term development of Hong Kong,” said Chan. “This is no longer a place where investing in real estate can get you high returns.”


Source : Bloomberg

New Japanese Chipmaker Rapidus Joins Development and Investment Race

Yuki Yamaguchi wrote . . . . . . . . .

New Japanese chip production company Rapidus is facing daunting challenges as it tries to catch up with Asian rivals in the technology development and investment race, leaving a shaky outlook for the country as it attempts to revive its once-thriving industry.

Created by Toyota Motor, Sony Group and six other major Japanese companies with a total investment of ¥7.3 billion ($52 million), the next-generation semiconductor venture plans to mass-produce chips with state-of-the-art 2-nanometer technology in Japan in 2027. Such advanced chips can be used for 5G communications, quantum computing, data centers, self-driving vehicles and digital smart cities.

SoftBank and NTT are also among the participants in the project, along with Kioxia, Denso, NEC and MUFG Bank.

The Ministry of Economy, Trade and Industry will provide ¥70 billion in subsidies as part of its semiconductor strategy compiled last year.

The government sees domestic chip production as critical to its economic security, as dependence on major supplier Taiwan poses geopolitical risks amid rising tensions between the United States and China over the self-ruled island. A potential crisis in the region could lead to Japan losing access to semiconductor supplies.

Rapidus focuses on foundry operations representing a group of private-sector entities, while the government-backed Leading-edge Semiconductor Technology Center will serve as a research and development hub in cooperation with the United States.

This latest effort follows the country’s failure to keep up in the investment race over the miniaturization of semiconductors that resulted in a yearslong development hiatus in the 2010s.

Taiwan Semiconductor Manufacturing, a world leader in chipmaking, plans to mass-produce 2-nanometer chips in 2025, while Samsung Electronics succeeded in mass production of 3-nanometer semiconductors in June. In contrast, the latest technology in Japan can only produce 40-nanometer chips.

Analysts are skeptical about the immediate success of the new company amid stiff global competition. The state financial support of ¥70 billion, compared with the much larger assistance of $52.7 billion set out by the U.S. government, raises questions about how committed the Japanese government is to reviving the chip industry. The European Union and the private sector will also offer assistance of €43 billion ($45 billion).

Hideki Yasuda, a senior analyst at Toyo Securities, said the ¥70 billion is “not enough at all” for the new company to be competitive in the global market.

“Around ¥1 trillion of annual investment is necessary for the chip industry,” Yasuda said. “It’s hard to force private companies to bear such a cost. So the question is whether the Japanese government is prepared to do that.”

Rapidus Chairman Tetsuro Higashi said at a news conference last Friday he believes the industry ministry is aware that long-term financial support is necessary and hopes more support will be provided to help his company build a chip plant.

The government’s financial aid should at least match the amounts offered by other countries for Japanese companies to stay competitive, Mitsuhiro Osawa, senior analyst at Ichiyoshi Research Institute, said.

Japanese chip manufacturers were once dominant players, taking half the global share in the late 1980s. But they came under pressure when frictions over trade with the United States led to export restrictions that allowed South Korean and Taiwanese chipmakers to make deeper inroads.

Spending by Asian rivals outpaced that of flagging Japanese companies in an industry where the development and mass production of cutting-edge products determines competitive advantage.

Japan has striven to rejuvenate its semiconductor sector through government initiatives over the past decades. In 2006, Toshiba, Hitachi and Renesas Technology set up a planning company for a government-backed joint foundry, but the project fell apart six months later.

Elpida Memory, established through the merger of chip operations at Hitachi, NEC and Mitsubishi Electric, filed for bankruptcy protection in 2012 despite government aid of ¥30 billion.

Rapidus President Atsuyoshi Koike, a former engineer in Hitachi’s chip division and former president at the Japan unit of Western Digital, says he has learned lessons from the past.

“In the past, Japan tried to seek solutions only in a closed world,” Koike told reporters last Friday. “We will collaborate with people and companies worldwide, including raw material companies and chipmaking equipment makers.”

Rapidus is looking for more partners, including from overseas. The company, for example, is in talks with IBM over technology cooperation on 2-nanometer chips.

The technological vacuum of the past decade has allowed talented personnel to be recruited by rivals out of the country. Rapidus may find it difficult to look for skilled engineers and plant workers anytime soon in Japan, Masahiko Ishino, chief analyst at Tokai Tokyo Research Institute, said.

Japanese companies trying to catch up with global competitors are “like a high school student, who did not study at all in school, trying to get into the University of Tokyo,” Ichiyoshi Research’s Osawa said, referring to the most prestigious institution of higher education in Japan.

“The bar is extremely high” for Rapidus, which has no prior experience in mass-producing state-of-the-art semiconductors, to make 2-nanometer chips, Toyo Securities’ Yasuda said.


Source : Japan Times


Read more at 経済産業省

次世代半導体の設計・製造基盤確立に向けて . . . . .

Vertiport Testbed for European Urban Air Mobility Testing Inaugurated in Paris

Groupe ADP, Skyports and Volocopter commissioned Europe’s first fully integrated vertiport terminal for the urban air mobility (UAM) industry at the Groupe ADP, RATP Group and Choose Paris Region-run Re.Invent Air Mobility testbed at Pontoise-Cormeilles airfield. The launch of the terminal represents the start of a new era for urban air mobility, as the facility allows advanced testing of critical technology and passenger processes.

Urban air mobility is a new form of sustainable aviation with a multitude of use cases that will provide regions and cities with an alternative form of transport for people and goods. Introducing a new form of mobility successfully requires industry-wide collaboration and the support of regulators and government bodies. The UAM ecosystem includes manufacturers of electric vertical takeoff and landing aircraft (eVTOL), physical and digital infrastructure providers, regulators, technology supply chain, cities, governments, the public, and many others. The fully integrated testbed at Pontoise-Cormeilles enables a variety of stakeholders to test technologies and procedures in diverse configurations in a real-life environment. The opportunity to test on a live airfield is both invaluable and essential to the development of the entire industry.

The testbed at Pontoise-Cormeilles, designed by Skyports in collaboration with Groupe ADP, is aircraft agnostic and offers the entire ecosystem the chance to test and develop their technologies. Most importantly, it facilitates collaboration between the key ecosystem partners, including technology pioneers, regulators and local partners such as the French Civil Aviation Authority (DGAC), suppliers and airlines. It will enable the testing of:

  • Vehicle integration, ground movement procedures, and charging procedures
  • Flight scheduling, situational awareness, and information exchange
  • Passenger journey through the terminal, including security and check-in processes, biometric technologies (provided by SITA), passenger dwell time, and aircraft boarding.

The launch event provided an opportunity to demonstrate the end-to-end passenger journey, from arrival at the vertiport terminal to aircraft boarding. A model of the VoloCity, which is being developed as Volocopter’s first certified aircraft for commercial services, was featured at the launch in addition to a crewed test flight of the 2X model – the only aircraft currently authorised by DGAC for eVTOL test flights in France. The series of demonstrations by Skyports and Volocopter also featured displays of flight monitoring capabilities and digital operating systems, including Skyports’ vertiport operating systems and the VoloIQ.

The Re.Invent Air Mobility testbed at Pontoise-Cormeilles airfield is now the most extensive technology-enabled test site for UAM in Europe. The innovation consortium is formed by Groupe ADP, Choose Paris Region, and RATP Group, and made up of 30 ecosystem partners. It has propelled France to the forefront of UAM development. The consortium focuses on a wide range of topics to facilitate the development of the industry, including vehicle development, vertiport infrastructure, airspace integration and public acceptance.


Source : Volocopter


Watch video at You Tube ( 9:07 minutes) . . . .

Infographic: China’s Dominance in the Solar Panel Supply Chain

See large image . . . . . .

Source : Visual Capitalist

Charts: U.S. Container Freight Volume Is Shrinking in September 2022

Confirming the slackening of merchandise trade and downturn in the business cycle.

See more charts . . . . .