10 Trillion Debt Swap Policy Introduced to Ease Local Financial Pressure

10万亿债务置换新政出台，减轻地方财政压力

The Standing Committee of the 14th National People's Congress approved a new debt swap policy, increasing the local government debt limit by 6 trillion yuan to swap existing hidden debts.
十四届全国人大常委会通过了一项债务置换新政，增加地方政府债务限额6万亿元，以置换存量隐性债务。

Minister of Finance Lan Fo'an announced that starting from 2024, China will allocate 800 billion yuan annually over five years to mitigate debt, expecting to swap 4 trillion yuan of hidden debt.
财政部部长蓝佛安介绍，从2024年起，我国将连续五年每年安排8000亿元用于化解债务，预计置换隐性债务达4万亿元。

Combined with the newly added 6 trillion yuan, local governments will have 10 trillion yuan of resources to address debt.
结合此次新增的6万亿元，地方政府的化债资源将增至10万亿元。

This move not only alleviates the short-term financial pressure on local governments but also brings more funds to infrastructure and social welfare areas.
此举不仅减轻了地方财政的短期压力，还为基础设施和民生领域带来更多资金。

By converting high-interest hidden debts into low-interest special-purpose debts, the policy significantly improves fiscal fund efficiency.
新政通过将高息隐性债务转为低息专项债务，显著提升了财政资金的使用效率。

It is estimated that by 2028, hidden debt requiring resolution will reduce from 14.3 trillion yuan to 2.3 trillion yuan.
预计到2028年，地方需要化解的隐性债务将从14.3万亿元降至2.3万亿元。

Appliance Trade-In Policy Drives 20 Million Purchases, Over 30 Million Units Sold

家电以旧换新政策带动2000万人购买，销量突破3000万台

Since the launch of the appliance trade-in policy, consumer response has been enthusiastic, boosting related product sales.
家电以旧换新政策实施以来，消费者反响热烈，带动了相关产品的销售增长。

As of November 8, 2023, more than 20 million consumers have purchased 30 million appliances through this policy.
数据显示，截至2023年11月8日，已有超过2000万消费者通过该政策购买了3000万台家电。

The Ministry of Commerce and companies introduced special promotions at key sales periods, further stimulating domestic demand, achieving total sales of 137.79 billion yuan.
商务部和企业通过重要销售节点推出优惠活动，进一步刺激内需，累计实现了1377.9亿元的销售额。

The policy not only contributes to environmental protection but also improves consumers' quality of life.
以旧换新政策不仅为环保贡献力量，也提高了消费者的生活质量。

The strong performance highlights the economic and environmental value of the trade-in policy.
政策效果显著，表明家电以旧换新在推动经济和环境保护方面具有双重意义。

TSMC Achieves Record Monthly Revenue in October with 24.8% Increase

台积电10月营收创下新高，环比增长24.8%

TSMC’s October revenue reached NT$314.24 billion, marking a record-high monthly revenue.
台积电10月营收达到3142.4亿新台币，创下单月营收新高。

It recorded a 24.8% month-over-month growth and a 29.2% year-over-year increase, reflecting robust semiconductor demand.
环比增长24.8%，同比增幅达29.2%，显示了半导体需求的强劲势头。

This number surpasses the previous record set in July, highlighting TSMC’s critical role in the global chip supply chain.
这一数字超过了7月的最高记录，突显台积电在全球芯片供应链中的关键地位。

Through technological innovation and expanded capacity, TSMC has continuously strengthened its market competitiveness.
通过技术创新和扩展产能，台积电在市场上的竞争力持续提升。

Analysts expect TSMC’s strong revenue performance to continue, cementing its leading position globally.
分析指出，台积电的高营收表现或将延续，巩固其在全球市场的领先地位。

This performance lays a solid foundation for future growth.
该业绩为未来持续增长奠定了基础。

J-35A Fighter Jet Debuts at Zhuhai Airshow, Captivates Spectators

珠海航展歼-35A亮相，引发观众热烈反响

China's new stealth fighter jet J-35A made its debut at the Zhuhai Airshow, drawing significant attention.
珠海航展上，中国新型隐形战机歼-35A亮相，成为当天的焦点。

The J-35A conducted an adaptation flight over Zhuhai’s Jinwan Airport, attracting a large audience.
歼-35A在珠海金湾机场进行了适应性飞行，吸引了大批观众的关注。

As China’s latest stealth fighter, the J-35A demonstrates significant progress in aviation technology.
作为中国最新研发的隐形战斗机，歼-35A展示了中国在航空技术上的重要进步。

Its debut not only showcases China’s military strength but also enhances its national defense image.
它的首次亮相不仅展示了中国军工实力，还增强了国防形象。

This year’s airshow features numerous advanced military equipment, highlighting China’s rapid development in technology and defense.
这次航展汇聚了众多先进军工装备，向外界展现了中国在科技与国防上的快速发展。

The appearance of the J-35A adds a new highlight to the airshow, and spectators are eager to see more.
歼-35A的登场为航展增添了新的亮点，观众对此充满期待。