China Business Now丨Death toll in Henan rainstorms hit 302; IMF approves historic $650 billion SDRs

Hi everyone. I’m Stephanie LI.

大家好，我是主持人李莹亮。

Our top stories today.

今日经济头条

The death toll from torrential rains in central China's Henan province has risen to 302 and another 50 people remain missing as of Monday noon. The State Council announced on Monday that it had set up an investigative team to look into the Zhengzhou flood and evaluate the disaster-response process.

据河南省政府防汛救灾新闻发布会通报，7月16日以来，至8月2日12时，河南省因灾遇难302人，50人失踪。国务院决定成立调查组对河南郑州“7·20”特大暴雨灾害进行调查。调查组将依法依规、实事求是、科学严谨、全面客观地对灾害应对过程进行调查评估，对存在失职渎职的行为依法依规予以问责追责。

Shenzhen proposed that in the stage of compulsory education, the municipal and district education departments should implement student enrolment in wider school districts, establish a teacher exchange system for compulsory education schools, and improve the mechanism for co-construction and sharing of high-quality educational resources.

7月30日，《深圳经济特区社会建设条例（草案征求意见稿）》（以下简称《草案征求意见稿》）在深圳市人大常委会网站上公开征求意见。《条例》提出，在义务教育方面，市、区教育部门应当推行大学区招生和办学管理模式，建立义务教育学校教师交流制度，健全优质教育资源共建共享机制。

China bagged two gold medals today in men’s diving 3-meter springboard and men’s gymnastic parallel bars. By 5 p.m Tuesday, China ranks first in the Olympic medal rally with 31 golds, 19 silvers and 16 bronzes, followed by the U.S. and Japan, with 22 and 18 golds respectively. 

截至下午5时，中国队在东京奥运会上的体操男子双杠和跳水男子3米跳板2个项目拿下2面金牌。中国队累计获得31金19银16铜，排名第一。美国队和日本队以 22金和18金排名第二和第三。

Updates on COVID-19

疫情简报

Chinese mainland reported 61 locally transmitted cases yesterday. 40 new confirmed cases were reported in Yangzhou, Jiangsu province. The infection cluster can be traced back to mahjong parlours. And Wuhan added 9 infections yesterday, prompting the city to order a round of nucleic acid testing on all residents. At the Shanghai Pudong International Airport, a staffer serving foreign freighters was tested positive. The airport immediately carried out an overnight testing on all personnels. Zhengzhou in Henan province also saw a resurgence of 63 cases in the past few days. Authorities believed that the cluster is related to hospital infections. 86 cities in 31 provinces across China issued over a hundred travel reminders for epidemic prevention and control within the past 6 days.

全国昨日新增61例本土确诊病例。扬州昨日新增40例确诊病例，棋牌室成为这轮疫情的“风暴眼”。8月2日，一名在上海浦东国际机场为外国货机服务的工作人员的新冠检测呈阳性。浦东机场连夜展开核酸检测，及对相关人员和场所的消杀工作。截止8月2日，这一轮郑州的疫情，已经发现了63例感染者。目前已公布的41例流调轨迹中，多数感染者与医院有关。最近6天内，全国31个省份共发布疫情防控出行提醒101条，涉及86个城市。

Next on industry and company news.

产经消息及公司新闻

Beijing Administration for Market Regulation has fined three tutoring firms for acts such as false advertising, running unlicensed schools and illegal pricing. The three firms – Xueda Education, ABC Foreign Language School and 51talk – were fined a total of 1.92 million yuan.  

北京市市场监管局近期对校外培训机构持续加强执法检查，依法查处“学大教育”“51talk”“ABC外语培训学校通州校区”发布违法广告、无证办学、价格违法、不正当竞争等行为，处罚共计192万元。

China Huarong Asset Management, the country’s bad-debt manager plans a public transfer of its 70 percent equity in Huarong Consumer Finance to external parties, it said Monday in a filing. The state-owned company also intends to negotiate with main institutional creditors of Huarong Trust’s outstanding debt to complete a “debt-to-equity swap and equity transfer.”

中国金融资产管理公司华融宣布，计划出售所持华融消费金融70%的股权。华融还计划通过与主要机构债权人协商“债转股+股权转让”，对其信托子公司华融信托进行重组。

Electric vehicle maker Li Auto will begin trading at the Hong Kong stock market on August 12, according to document released by Hong Kong Exchanges and Clearing (HKEX). The company is offering 100 million shares in its IPO for as much as HK$150 each. This will make Li Auto the second US-listed Chinese electric vehicle first-tier brand to list on the Hong Kong capital market after XPeng Motors. 

据港交所文件显示，理想汽车将于8月12日开始在联交所买卖，将通过香港IPO发行1亿股股票，最高发行价为每股150港元。这将使理想汽车成为继小鹏汽车之后，第二个同时在香港资本市场上市及美国上市的中国电动汽车一线品牌。

Tencent introduced stricter game addiction prevention measures for minors on Tuesday, including reducing maximum game time and banning top-ups, after the country doubled down on screen time management to curb addictions. The shares of Hong Kong-traded online gaming companies plummeted today, with Tencent tumbled more than 6 percent, Bilibili down 3.4 percent, and Netease slumped more than 7.7 percent.

8月3日，腾讯推出游戏未保“双减双打”新措施，包括减时长、减充值等。近日，中办、国办印发《关于进一步减轻义务教育阶段学生作业负担和校外培训负担的意见》，要求引导学生合理使用电子产品，控制使用时长，防止网络沉迷。今天港股哔哩哔哩、腾讯和网易等网络游戏公司集体下挫，腾讯跌超6%，哔哩哔哩下跌3.4%，网易股价则跌超7.7%。

Due to the recent COVID-19 outbreak, stocks related to coronavirus testing skyrocketed today, with Pony Testing rising 18 percent. Bohui Innovation Technology, Wondfo Biotech, Leadman Biochemistry, and Daan Gene also recorded growth.

近期多地疫情爆发，新冠检测股今日暴涨，谱尼测试涨超18%，博晖创新、万孚生物、利德曼、达安基因等走高。

Switching gears to the financial sector.

金融市场要闻

The board of governors of the International Monetary Fund (IMF) has approved a new general allocation of Special Drawing Rights (SDR) equivalent to $650 billion, the largest allocation in the IMF's history, in an effort to boost global liquidity amid the COVID-19 pandemic, according to an IMF statement released Monday. The general allocation of SDRs will become effective on Aug. 23. 

当地时间8月2日，IMF理事会批准了规模为6500亿美元的新一轮特别提款权（SDR）普遍分配（约合4560亿特别提款权），以增加全球流动性。本轮SDR普遍分配将于2021年8月23日生效。

Wrapping up with a quick look at the stock market.

最后来看股市收盘情况

Chinese stocks closed lower on Tuesday with the benchmark Shanghai Composite Index down 0.47 percent, at 3447 points. The Shenzhen Component Index closed 0.41 percent lower at 14736 points. The Hang Seng Index dipped 0.16 percent to stand at 26194 points. 

周二A股股市小幅回调，集体收跌。截至收盘，沪指跌0.47%，报收3447点；深成指跌0.41%，报收14736点。港股恒生指数收跌0.16%，报收26194点。

• Biz Word of the Day

  财经词汇划重点

• Special Drawing Rights (SDRs) are supplementary foreign exchange reserve assets defined and maintained by the International Monetary Fund (IMF). SDRs represent a claim to currency held by IMF member countries for which they may be exchanged. SDRs are allocated by the IMF to countries, and cannot be held or used by private parties.

  特别提款权是国际货币基金组织根据会员国认缴的份额分配的，可用于偿还国际货币基金组织债务、弥补会员国政府之间国际收支逆差的一种账面资产。

（欢迎大家提供意见和反馈，请联系主播李莹亮：liyl@21jingji.com）

Executive Editor: Sonia YU

Editor: LI Yanxia

Writer & Host: Stephanie LI

Producer：XIANG Xiufang

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策划、编辑：李艳霞 

撰稿、播音：李莹亮

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（作者：李莹亮,实习生郎舒婷 编辑：李艳霞）

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