string(13) "markets-macro"

Macro

August 31, 2020

A master plan for cleaning up the banks

With bad loans set to surge and loan issuance having increased to deal with the pandemic, banks are going to have to raise more capital. They need a plan. Perhaps even a Master Plan. Well…apparently, there is one– and Caixin has seen it! On Friday, Caixin was kind enough to share what it… Username Password Remember Me… Read More »

With bad loans set to surge and loan issuance having increased to deal with the pandemic, banks are going to have to raise more capital.
They need a plan. Perhaps even a Master Plan.

Well…apparently, there is one– and Caixin has seen it!

On Friday, Caixin was kind enough to share what it...

sources

Caixin: In Depth: Banking Sector Cleanup Puts Local Governments in the Firing Line

August 27, 2020

Xinjiang postpones school opening

This morning, the National Health Commission dropped the latest COVID-19 numbers (NHC): On Wednesday, China saw (NHC): No domestically transmitted cases – for the 11th consecutive day. No domestically transmitted asymptomatic cases – for the fifth consecutive day. Eigh…

This morning, the National Health Commission dropped the latest COVID-19 numbers (NHC):
On Wednesday, China saw (NHC):

No domestically transmitted cases – for the 11th consecutive day.
No domestically transmitted asymptomatic cases – for the fifth consecutive day.
Eigh...

sources

NHC: 截至8月26日24时新型冠状病毒肺炎疫情最新情况

Gov.cn: 截至8月26日24时新疆(含兵团)新型冠状病毒肺炎疫情最新情况

Gov.cn: 截至8月15日24时新疆(含兵团)新型冠状病毒肺炎疫情最新情况

The Paper: 新疆中小学秋季学期延期开学，将以“空中课堂”形式线上教学

Xinhua: 乌鲁木齐市对重点小区再次进行核酸检测此后将调整疫情防控政策

August 27, 2020

One world, two systems?

With the US and China studiously cultivating their own tech ecosystems, observers have been left to wonder if the world is truly headed for technological decoupling. Yesterday, at the World Semiconductor Conference in Nanjing, Wei Shaojun, vice chairman of the China Semiconductor Industry Associatio…

With the US and China studiously cultivating their own tech ecosystems, observers have been left to wonder if the world is truly headed for technological decoupling.
Yesterday, at the World Semiconductor Conference in Nanjing, Wei Shaojun, vice chairman of the China Semiconductor Industry Associatio...

sources

21st Century Biz: 中国半导体行业协会副理事长：须理性看待芯片国产化替代，产业链不能什么都自己做

August 27, 2020

Shots fired (into the ocean)

On Wednesday, China fired two “aircraft-carrier killer” missiles into the South China Sea (SCS). Why the waste of military hardware you ask? The move was meant as a warning in the face of perceived American provocation. Some context: On Tuesday, a US U-2 spy plane made a pass over a Chinese n…

On Wednesday, China fired two “aircraft-carrier killer” missiles into the South China Sea (SCS).
Why the waste of military hardware you ask?

The move was meant as a warning in the face of perceived American provocation.

Some context: On Tuesday, a US U-2 spy plane made a pass over a Chinese n...

sources

SCMP: Chinese military fires ‘aircraft-carrier killer’ missile into South China Sea in ‘warning to the United States’

The Paper: 国防部：既不会随美起舞，也不会任美胡来

Xinhua: China opposes U.S. military aircraft trespass in no-fly zone

NYT: U.S. Penalizes 24 Chinese Companies Over Role in South China Sea

August 27, 2020

Après le déluge, l’argent

Red tape wasn’t the only topic under discussion at Wednesday’s State Council executive meeting (see previous entry). After a season of catastrophic floods, Premier Li Keqiang still wants to make it rain. Specifically, Li wants to help people in flood-stricken regions resume production and get back…

Red tape wasn’t the only topic under discussion at Wednesday’s State Council executive meeting (see previous entry).

After a season of catastrophic floods, Premier Li Keqiang still wants to make it rain.

Specifically, Li wants to help people in flood-stricken regions resume production and get back...

sources

Xinhua: Chinese premier stresses flood control, post-disaster recovery

Gov.cn: 李克强主持召开国务院常务会议部署防汛救灾和灾后恢复重建工作等

August 27, 2020

Li pushes for red tape cut (again)

On Wednesday, Premier Li Keqiang chaired the State Council’s weekly executive meeting. Li was talking (once again) about his favorite topic: cutting red tape for businesses. As the economy lags, Li said that reducing bureaucracy was more important than ever before (Gov.cn): “Deepening the reform of…

On Wednesday, Premier Li Keqiang chaired the State Council’s weekly executive meeting.
Li was talking (once again) about his favorite topic: cutting red tape for businesses.
As the economy lags, Li said that reducing bureaucracy was more important than ever before (Gov.cn):

“Deepening the reform of...

sources

Gov.cn: 李克强主持召开国务院常务会议部署防汛救灾和灾后恢复重建工作等

August 27, 2020

Xi signals control over security services

On Wednesday, Xi Jinping presented a new police flag to China’s men in blue (Xinhua 2): “At the ceremony held in the Great Hall of the People in Beijing, Xi presented Minister of Public Security Zhao Kezhi and Minister of State Security Chen Wenqing with the flag.” This is a big deal. Previously, …

On Wednesday, Xi Jinping presented a new police flag to China’s men in blue (Xinhua 2):

“At the ceremony held in the Great Hall of the People in Beijing, Xi presented Minister of Public Security Zhao Kezhi and Minister of State Security Chen Wenqing with the flag.”

This is a big deal.
Previously, ...

sources

Xinhua: 习近平向中国人民警察队伍授旗并致训词强调对党忠诚服务人民执法公正纪律严明坚决完成党和人民赋予的使命任务王沪宁韩正出席

Xinhua: Xi Focus: Xi confers flag on China’s police force

August 26, 2020

The social cost of Xinjiang’s lockdown

This morning, the National Health Commission dropped the latest COVID-19 numbers. On Tuesday, China saw (NHC): No domestically transmitted cases – for the 10th consecutive day. No domestically transmitted asymptomatic cases – for the fifth consecutive day. 15 imported cases – up from 14 on Monday. …

This morning, the National Health Commission dropped the latest COVID-19 numbers.
On Tuesday, China saw (NHC):

No domestically transmitted cases – for the 10th consecutive day.
No domestically transmitted asymptomatic cases – for the fifth consecutive day.
15 imported cases – up from 14 on Monday.
...

sources

NHC: 截至8月25日24时新型冠状病毒肺炎疫情最新情况

NYT: China Locks Down Xinjiang to Fight Covid-19, Angering Residents

August 26, 2020

Government adviser discusses Monday’s big meeting

Want to know more about Xi Jinping’s meeting on Monday to discuss the economy? Us too. So we were pretty pumped when we saw an interview with Lu Ming on Tuesday. Lu, a professor at Shanghai Jiao Tong University, attended Monday’s meeting and presented suggestions to Xi and other top leaders. What …

Want to know more about Xi Jinping’s meeting on Monday to discuss the economy?
Us too.
So we were pretty pumped when we saw an interview with Lu Ming on Tuesday.

Lu, a professor at Shanghai Jiao Tong University, attended Monday’s meeting and presented suggestions to Xi and other top leaders.

What ...

sources

Sina: 总书记座谈会上，最年轻的发言者陆铭汇报了什么？

August 26, 2020

State Council wants better social assistance

On Tuesday, the General Office of the State Council released a new directive on how to reform the country’s social assistance program. Some context:The program, also known as dibao, was first rolled out in 1993 in Shanghai to help citizens with low incomes meet basic living costs. Dibao was then rol…

On Tuesday, the General Office of the State Council released a new directive on how to reform the country’s social assistance program.
Some context:The program, also known as dibao, was first rolled out in 1993 in Shanghai to help citizens with low incomes meet basic living costs. Dibao was then rol...

sources

Gov.cn: 中共中央办公厅国务院办公厅印发《关于改革完善社会救助制度的意见》

Xinhua: China issues directive on improving social assistance system

SupChina: China’s poverty-shaming social assistance system and the urgent need for reform

August 26, 2020

More insight into the trade deal review

Yesterday, we told you that Vice Premier Liu He had a phone call with US Trade Representative Robert Lighthizer and US Treasury Secretary Steve Mnuchin to review the progress of the phase one trade deal. The official statements didn’t offer much in the way of detail. Have no fear: Taoran Notes is he…

Yesterday, we told you that Vice Premier Liu He had a phone call with US Trade Representative Robert Lighthizer and US Treasury Secretary Steve Mnuchin to review the progress of the phase one trade deal.
The official statements didn’t offer much in the way of detail.
Have no fear: Taoran Notes is he...

sources

Sina: 陶然笔记：中美经贸会谈氛围融洽在农业、金融等方面交流比较顺畅

August 26, 2020

PBoC spreads its monetary message – again

Stable. Flexible. Moderate. That’s how Sun Guofeng, head of the monetary policy department at the People’s Bank of China (PBoC), summarized current monetary policy. Some context:That’s a slight variation on the “flexible and targeted” mantraregulators were promoting earlier in the month, but the bas…

Stable. Flexible. Moderate.
That’s how Sun Guofeng, head of the monetary policy department at the People’s Bank of China (PBoC), summarized current monetary policy.
Some context:That’s a slight variation on the “flexible and targeted” mantraregulators were promoting earlier in the month, but the bas...

sources

PBoC: 国务院政策例行吹风会“金融机构支持实体经济政策落实情况”文字实录

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