CBN丨2024 CIIE advances global openness and cooperation

Hi everyone. I’m Stephanie LI.

Coming up on today’s program

• The 2024 China International Import Expo sets to kick off on Tuesday;
• Shenzhou-18 astronauts returned to Earth safely after 6 months in orbit.

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

The 7th China International Import Expo (CIIE) is under the global spotlight as foreign leaders, industry representatives will gather in Shanghai for the major trade event which is scheduled to take place from Tuesday to Sunday. 

Chinese Premier Li Qiang will attend the opening ceremony of the 7th CIIE and relevant events, and deliver a speech, a spokesperson with the Ministry of Commerce announced on Sunday.

Also with the new measures, a total of 60 billion yuan of taxes is expected to be waived from the purchase tax on some passenger vehicles in stages.

Themed "new era, shared future," the 7th CIIE has attracted participants from 152 countries, regions and international organizations, and achieved a new record with 297 Fortune Global 500 companies and industry leaders set to attend, according to the  commerce ministry.

This year’s CIIE boasts an impressive exhibition area of more than 360,000 square meters, featuring 3,496 exhibitors from 129 countries and regions. Norway, Slovakia, Benin, Burundi, Madagascar, Namibia and Lesotho, as well as UNICEF are first-time participants in the country exhibition. France, Malaysia, Nicaragua, Uzbekistan, Saudi Arabia and Tanzania are the guest countries of honor in 2024. Both the number of participating countries and regions and exhibitors have surpassed last year’s totals. 

China’s persistent hosting of the expo over the years carries significant implications, offering a platform for global companies to showcase their products and engage in communication with other industry players. The expo promotes international trade and investment, aiding the global economic recovery, while also sending a positive message that highlights China’s commitment to advancing economic globalization and enhancing trade cooperation with countries and regions around the world.

• The Shenzhou-18 crew consisting of three Chinese astronauts returned to Earth safely on Monday morning, after completing a six-month space station mission. Shenzhou-18's return capsule, carrying astronauts Ye Guangfu, Li Cong and Li Guangsu, touched down at the Dongfeng landing site in north China's Inner Mongolia Autonomous Region at 1:24 a.m. Beijing Time. The three astronauts, after staying in orbit for 192 days, were all in good health and the Shenzhou-18 manned mission was a success, according to the China Manned Space Agency (CMSA).

Greater Bay Area, Greater future

• Hong Kong's Financial Secretary Paul Chan Mo-po said on Sunday that his visit to Saudi Arabia last week saw a slew of "fruitful results," as the tour further highlighted the region's crucial role in international markets. Chan said the SAR is ready to further tap into the potential for cooperation with the Middle Eastern market, for better participating in and contributing to the joint construction of the Belt and Road Initiative. 
• Hong Kong's Exchange Fund recorded a record-breaking investment income of HK$224.7 billion for the first nine months of the year, the Hong Kong Monetary Authority revealed on Monday. The fund posted gains of HK$114.6 billion in the third quarter alone, with the largest gain coming from bond investments, which contributed HK$66 billion. Investments in Hong Kong stocks posted gains for the second consecutive quarter, adding about HK$22 billion.

Earnings reports express

• China’s largest express delivery companies reported a significant surge in profit and revenue in the three months ended Sept. 30 from a year earlier. SF Holding’s net profit soared 34.5 percent in the third quarter from a year earlier to 2.8 billion yuan, while revenue jumped 12 percent to 72.4 billion yuan, according to its latest financial report. YTO Express posted an 18 percent jump in net profit to 943 million yuan while revenue surged 22.1 percent to 16.8 billion yuan, it said in its third-quarter earnings report. STO Express’s net profit soared almost 79-fold to 215 million yuan and revenue advanced 16.3 percent to 11.9 billion yuan. And Yunda Holding reported a 24.2 percent jump in net profit to 367 million yuan while revenue climbed 8.8 percent to 12.2 billion yuan.

Wrapping up with a quick look at the stock market

• Shares were mostly higher in China on Monday as the nation’s top legislation body began a major meeting expected to bring fresh pledges of help for the world’s second-largest economy. The benchmark Shanghai Composite gained 1.2 percent and the Shenzhen Component soared 2 percent. Hong Kong’s Hang Seng index also closed 0.3 percent higher, and the TECH index bounced 1.1 percent.

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

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