string(13) "markets-macro"

Macro

September 17, 2020

Just a little off the top

Beijing has been giving money hand-over-fist to local governments to mitigate COVID-19’s economic fallout. According to the Ministry of Finance, as of mid-August, the central government had directly distributed RMB 1.674 trillion worth of funds to support local governments (Jieman). However, only … Username Password Remember Me Forgot Password

Beijing has been giving money hand-over-fist to local governments to mitigate COVID-19’s economic fallout.

According to the Ministry of Finance, as of mid-August, the central government had directly distributed RMB 1.674 trillion worth of funds to support local governments (Jieman).

However, only ...

sources

Jiemian: 2万亿元中央补助资金支出仅3成，截留挪用问题频发

September 17, 2020

The Party wants to make a deal with private businesses

On Tuesday, Chinese People’s Political Consultative Conference (CPPCC) Chairman Wang Yang attended the National United Front in Private Enterprises Work Conference. The purpose of the conference: To better “unite and guide” the private sector. Some context: On Tuesday, the General Office of the…

On Tuesday, Chinese People’s Political Consultative Conference (CPPCC) Chairman Wang Yang attended the National United Front in Private Enterprises Work Conference.
The purpose of the conference: To better “unite and guide” the private sector.
Some context: On Tuesday, the General Office of the...

sources

Xinhua: 习近平对新时代民营经济统战工作作出重要指示

September 16, 2020

Leave farmland alone

On Tuesday, the General Office of the State Council issued a notice on stopping the de-agriculturalization of farmland. The document reminds officials to carefully adhere to existing regulations, which restrict (Gov.cn): Occupying farmland for greening and reforestation projects Creating excessive …

On Tuesday, the General Office of the State Council issued a notice on stopping the de-agriculturalization of farmland.
The document reminds officials to carefully adhere to existing regulations, which restrict (Gov.cn):

Occupying farmland for greening and reforestation projects
Creating excessive ...

sources

Gov.cn: 国务院办公厅关于坚决制止耕地“非农化”行为的通知

The Paper: 中国将建立国家永久基本农田数据库，压实保护耕地责任

September 16, 2020

Closed for a private Party

On Tuesday, the General Office of the CPC Central Committee issued a document entitled Opinions on Strengthening the United Front Work of the Private Economy in the New Era. What’s United Front work? We’re glad you asked! United Front Work refers to the Party’s efforts to influence non-Party organ…

We’re glad you asked!

United Front Work refers to the Party’s efforts to influence non-Party organ...

sources

People.cn: 中共中央办公厅印发《关于加强新时代民营经济统战工作的意见》

China Daily: CPC issues guidelines for strengthening united front work involving private sector

September 16, 2020

Wang Yang heads to Qinghai

Wang Yang, head of the political advisory body (CPPCC) and #4 in the Party hierarchy, just completed a two-day tour of Qinghai. Wang’s mission: To spread the gospel of the Central Tibet Work Conference (CTWC), which was held on August 28-29. Some context: TheCTWC is a big deal. Attended by…

Wang Yang, head of the political advisory body (CPPCC) and #4 in the Party hierarchy, just completed a two-day tour of Qinghai.
Wang’s mission: To spread the gospel of the Central Tibet Work Conference (CTWC), which was held on August 28-29.
Some context: TheCTWC is a big deal. Attended by...

sources

CPC People: 汪洋在青海调研时强调：把中央第七次西藏工作座谈会精神真正学懂弄通做实

September 16, 2020

Tough crowd, huh?

On Monday, Xi Jinping sat down for a long-awaited China-Germany-EU leaders’ meeting via videolink. Opposite Xi were: German Chancellor Angela Merkel European Council President Charles Michel European Commission President Ursula von der Leyen On the agenda: Trade and economic issues Climate change…

On Monday, Xi Jinping sat down for a long-awaited China-Germany-EU leaders’ meeting via videolink.
Opposite Xi were:

German Chancellor Angela Merkel
European Council President Charles Michel
European Commission President Ursula von der Leyen

On the agenda:

Trade and economic issues
Climate change...

sources

Xinhua: Xi co-hosts China-Germany-EU leaders’ meeting via video link

Deutsch Welle: Coronavirus makes Germany’s EU-China summit go virtual

France24: EU presses China on market access, human rights during virtual summit

September 16, 2020

Marginal improvement in unemployment data

On Tuesday, the National Bureau of Statistics (NBS) published August unemployment data. Broadly, things don’t look too bad (Caixin): Nationally, unemployment fell to 5.6%, not too far above last year’s 5.2%. Only 4.8% of workers between 25-59 years are unemployed. Officially, this is good news: “…

On Tuesday, the National Bureau of Statistics (NBS) published August unemployment data.
Broadly, things don’t look too bad (Caixin):

Nationally, unemployment fell to 5.6%, not too far above last year’s 5.2%.
Only 4.8% of workers between 25-59 years are unemployed.

Officially, this is good news:

“...

sources

Caixin: 8月城镇调查失业率微降至5.6% 毕业生失业率仍在攀升

FT: China’s retraining campaign offers scant prospects for the unemployed

September 15, 2020

Decoupling by proxy?

Yesterday, US computing hardware behemoth Nvidia announced the purchase of UK semiconductor giant Arm Holdings. What’s it to China? (The Guardian) “[Arm] has been described … as ‘the Switzerland of the semiconductor industry.’ It maintains independent relations with hundreds of customers aroun…

Yesterday, US computing hardware behemoth Nvidia announced the purchase of UK semiconductor giant Arm Holdings.
What’s it to China? (The Guardian)

“[Arm] has been described … as ‘the Switzerland of the semiconductor industry.’ It maintains independent relations with hundreds of customers aroun...

sources

Reuters: Nvidia acquisition of Arm throws company into tech spat between U.S. and China

Caixin: 黄仁勋谈英伟达收购Arm：机会千载难逢中国监管会欢迎

September 15, 2020

State TV headline sinks cross-strait talks

On Monday, the main opposition party in Taiwan – the Kuomintang (KMT) – announced it would not send any official delegates to the 2020 Straits Forum in Xiamen. Some context: The Straits Forum is an annual forum on business and culture, bringing together attendees from the mainland and Taiwan. B…

On Monday, the main opposition party in Taiwan – the Kuomintang (KMT) – announced it would not send any official delegates to the 2020 Straits Forum in Xiamen.
Some context: The Straits Forum is an annual forum on business and culture, bringing together attendees from the mainland and Taiwan. B...

sources

SCMP: Taiwan’s KMT calls off mainland China trip over CCTV headline

September 15, 2020

Party issues more rules for cadres

On Monday, the general office of the Party’s Central Committee issued guidelines on consolidating the achievements of the “Stay true to the Party’s founding mission” education campaign. Some context: The campaign was launched in May 2019 in an effort to instill cadres with discipline. It concluded l…

On Monday, the general office of the Party’s Central Committee issued guidelines on consolidating the achievements of the “Stay true to the Party’s founding mission” education campaign.
Some context: The campaign was launched in May 2019 in an effort to instill cadres with discipline. It concluded l...

sources

Gov.cn: 中共中央办公厅印发《关于巩固深化“不忘初心、牢记使命”主题教育成果的意见》

Xinhua: CPC to consolidate achievements of Party education campaign

September 15, 2020

Data dump – August econ data

Econ data for August was published this morning, and things appear to be on the up. Growth in retail sales, fixed asset investment and industrial value-added output all improved from last month. They also comfortably beat consensus forecasts. The details: Fixed asset investment increased by 9.3% …

Econ data for August was published this morning, and things appear to be on the up.

Growth in retail sales, fixed asset investment and industrial value-added output all improved from last month.
They also comfortably beat consensus forecasts.

The details:

Fixed asset investment increased by 9.3% ...

sources

NBS: 8月份国民经济持续稳定恢复

September 15, 2020

Xi deals with Europe

On Monday, Xi Jinping co-hosted a China-Germany-EU leaders’ meeting with German Chancellor Angela Merkel via video link. Everyone was keen on getting along (Xinhua 2): “[The leaders] agreed to strengthen communication and cooperation to ensure the success of the upcoming series of major politi…

On Monday, Xi Jinping co-hosted a China-Germany-EU leaders’ meeting with German Chancellor Angela Merkel via video link.
Everyone was keen on getting along (Xinhua 2):

“[The leaders] agreed to strengthen communication and cooperation to ensure the success of the upcoming series of major politi...

sources

Xinhua: 习近平同德国欧盟领导人共同举行会晤

Xinhua: Xi co-hosts China-Germany-EU leaders’ meeting via video link

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