Chinanews client, Beijing, April 10th telegram:

Shanghai War Epidemic Record: Economic and Financial Keeping the "Shanghai" War!

How important is Shanghai to China?

  Reporter Li Jinlei Song Yusheng

  At present, the epidemic situation in Shanghai is at its peak.

While fighting the "epidemic", an economic and financial battle to defend "Shanghai" is also going on.

  "Shanghai carries the important function of connecting domestic and international markets. It is necessary to coordinate epidemic prevention and control and economic operation to ensure the stable operation of the core functions of the economy, finance, trade and shipping center." Sun Chunlan, member of the Political Bureau of the CPC Central Committee and vice premier of the State Council recently It was emphasized when investigating and guiding the epidemic prevention and control work in Shanghai.

  As China's largest city, as an international economic, financial, trade and shipping center, Shanghai is really important to China and the world economy.

The picture shows the night scene of Lujiazui, Pudong, Shanghai, in 2020.

(UAV photo) Photo by China News Agency reporter Zhang Hengwei

China's largest city: Helping enterprises to bail out "stop bleeding" for the economy

  As China's largest economic city, Shanghai's GDP will reach 4,321.485 billion yuan in 2021, a year-on-year increase of 8.1%, breaking the 4 trillion mark.

Together with Beijing, advance to the city of 4 trillion.

  Shanghai, which ranks tenth in the country in terms of GDP, accounts for only 0.06% of the country's land area, but contributes 3.8% of the country's GDP.

On an average day, Shanghai can create a GDP of 11.8 billion yuan.

  Shanghai is also the No. 1 city for consumption in China. In 2021, the total retail sales of consumer goods will be 1.8 trillion yuan, ranking first among cities in the country.

However, under the requirements of epidemic prevention and control, the flow of people in the city and across regions has dropped significantly, which has a greater impact on offline gathering and contact consumption, and the service industry, tourism, and catering industries are facing difficulties.

  In order to reduce the impact of the epidemic on economic and social development and support related industries and enterprises to overcome difficulties and resume development, Shanghai quickly issued the "Several Policies and Measures for Shanghai to Fight the Epidemic to Help Enterprises Promote Development", including tax rebates, reductions in fees and profits, 21 relief policies to help enterprises, including rent reduction and exemption, financial subsidies, and assistance to enterprises to stabilize jobs.

Preliminary estimates show that tax-related policies alone can reduce the burden on related industries and enterprises in Shanghai by about 140 billion yuan in 2022.

  Financial support was further increased.

The "Financial Support Measures for Shanghai to Fight the Epidemic to Help Enterprises Promote Development" was released, including reducing the financing guarantee rates of various enterprises, providing discount support for new loans to enterprises in difficulty, and increasing the first loan and credit loan support for small and micro enterprises.

  This round of epidemic has caused a lot of "blood loss" in Shanghai's economy, but a series of measures are aimed at helping market players "stop bleeding" and "return blood", so as to keep the green hills and win the future.

A corner of the office of Huatai Securities (Shanghai) Asset Management Co., Ltd.

Photo courtesy of Huatai Securities (Shanghai) Asset Management Co., Ltd.

International Financial Center: Guarding the “pulse” of finance without stopping

  As one of the cities with the most complete financial factor markets in the world, Shanghai has gathered various financial factor markets such as stocks, bonds, currencies, foreign exchange, gold, futures, bills, and insurance.

In 2021, the total financial market transactions will exceed 2,500 trillion yuan.

  Such a huge transaction scale also means that Shanghai's financial "pulse" cannot be interrupted or stopped.

  How to ensure that financial business is running as usual?

  "Live in the company!" Banks, brokerages, funds and other institutions have launched emergency plans one after another. Countless "financiers" have chosen to go retrograde and use on-site offices to protect the financial market "not closing" and ensure that funds "continuously" flow".

  On-site is to meet compliance requirements, and only on-site can ensure that sufficient transaction resources can be quickly coordinated and processed when emergencies occur.

  On-site office, multi-center security, mutual preparation of AB posts... Judging from the on-site maps released by various financial institutions, under the epidemic, camp beds, sleeping bags, and tents have almost become the standard equipment for front-line financial practitioners.

  The Shanghai Stock Exchange urgently issued the "30 Anti-epidemic Measures" to ensure the normal progress of the review business of the Science and Technology Innovation Board, provide "cloud listing" services for listed companies that have completed issuance, and extend the information disclosure business... All measures support epidemic prevention and control in an all-round way and ensure market operation .

  "The colleagues of fund companies, exchanges, and settlement registration institutions in Pudong and Puxi are working together for the smooth operation of the financial industry infrastructure..." a fund manager said in a circle of friends.

  Thanks to the efforts of all parties, various financial businesses in Shanghai International Financial Center are operating normally, and various markets such as the Shanghai Stock Exchange are open as usual.

  It is operating as usual under the extraordinary background, which means that the financial “blood” of Shanghai, an international financial center connecting the world, has not stopped.

There are frequent international voyages between the ports and the ports.

Photo courtesy of Shanghai General Inspection Station

The world's largest trade port: emergency duty to ensure "uninterrupted" customs clearance

  As the world's largest trade port city, Shanghai's total port import and export volume in 2021 will be 10.09 trillion yuan, and Shanghai Port's container throughput will be 47 million TEUs, ranking first in the world for 12 consecutive years.

The number of inbound and outbound personnel at the airport has ranked first in the country for 19 consecutive years, and Pudong Airport has ranked third in the world in terms of cargo and mail throughput for 14 consecutive years.

  During the epidemic, will Shanghai trade and shipping still operate normally?

  A screenshot of the densely crowded ships in the waters near Shanghai circulated on the Internet, claiming that delays at Shanghai's ports are getting worse, and the number of ships waiting to be loaded and unloaded at Shanghai port has soared to more than 300.

  But this was quickly debunked.

  SIPG stated in a statement that the current operation of Shanghai Port is stable and orderly, and the berthing efficiency of Shanghai Port is significantly better than the overall level in 2021.

Since March 28, the average waiting time of container ships in Shanghai Port has been less than 24 hours, and the average waiting time has been less than 10 ships.

At present, all production units in Hong Kong are operating normally 24 hours a day, except for extreme weather conditions.

  A number of media reports show that the container throughput of Shanghai Port remains at around 140,000 TEUs, which is a high level of operation in Shanghai Port.

  Shanghai Port has also launched the "container land-to-water" service. Under this model, customers' containers can be directly sent to Taicang Port or Suzhou Port for consolidation, and then transported to Yangshan Port or Waigaoqiao Port by boat. In this way, the process of land transportation into Shanghai is avoided, and the timely arrival and shipment of containers can be effectively guaranteed.

  Shanghai Customs recently released several measures to fight the epidemic, protect people's livelihood and help enterprises promote development, and activated the emergency human resources guarantee mechanism. All business sites normally accept customs declaration and inspection of imported and exported goods to ensure the safety and smoothness of imports and exports at Shanghai ports.

The implementation of the whole process of online customs business, the maximum convenience for enterprises to handle affairs.

Support the industrial chain and supply chain to stabilize and supplement the chain, and ensure the normal import of production materials.

  The continuous throughput of the Shanghai port conveys the efforts made by the world's largest trade port city to ensure the smooth supply chain of the industrial chain.

(Finish)

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