string(13) "markets-macro"

Macro

July 15, 2020

Holiday time

This morning, the National Health Commission (NHC) dropped the latest stats on the COVID-19 situation. On Tuesday (NHC): China reported six new confirmed COVID-19 cases and four new asymptomatic cases – all were imported from abroad. Beijing reported zero new confirmed, asymptomatic, or suspected c… Username Password Remember Me Forgot Password

This morning, the National Health Commission (NHC) dropped the latest stats on the COVID-19 situation.
On Tuesday (NHC):

China reported six new confirmed COVID-19 cases and four new asymptomatic cases – all were imported from abroad.
Beijing reported zero new confirmed, asymptomatic, or suspected c...

sources

NHC: 截至7月14日24时新型冠状病毒肺炎疫情最新情况

CCTV: 北京14日无新增新冠肺炎确诊病例治愈出院14例

Gov.cn: 文化和旅游部办公厅关于推进旅游企业扩大复工复业有关事项的通知

The Paper: 跨省团队游恢复旅游平台搜索量激增，旅企员工：激动哭了

July 15, 2020

Cities get supply chain chiefs

Get excited folks. Municipal governments have created some new jobs! On Monday, the government of Nanjing, Jiangsu announced that it will appoint eight Supply Chain Chiefs. Chiefs of what now? Much like it sounds, these chiefs will each oversee the supply chain of one of the following industries (Th…

Get excited folks.
Municipal governments have created some new jobs!
On Monday, the government of Nanjing, Jiangsu announced that it will appoint eight Supply Chain Chiefs.
Chiefs of what now? Much like it sounds, these chiefs will each oversee the supply chain of one of the following industries (Th...

sources

Gov.cn: 南京出台《南京市推进产业链高质量发展工作方案》

Gov.cn: 市工业和信息化局关于公开征求《深圳市关于推动制造业高质量发展坚定不移打造制造强市的若干措施（征求意见稿）》的通知

July 15, 2020

Han Zheng demands demand

On Tuesday, Executive Vice Premier Han Zheng traipsed over to the country’s macro planning supra-ministry, the National Development and Reform Commission (NDRC). Han’s mission: To make sure everyone is on the same page with respect to economic policy. Some context: Han made a similar trip to th…

On Tuesday, Executive Vice Premier Han Zheng traipsed over to the country’s macro planning supra-ministry, the National Development and Reform Commission (NDRC).
Han’s mission: To make sure everyone is on the same page with respect to economic policy.
Some context: Han made a similar trip to th...

sources

Gov.cn: 韩正在国家发展改革委召开座谈会

July 15, 2020

Xi calls Southeast Asian leaders

You know what time it is. Time for another installment of Xi Jinping: International Man of Diplomacy. On Tuesday, Xi got on the phone with: Thai Prime Minister Prayut Chan-o-cha Singaporean Prime Minister Lee Hsien Loong Xi had some warm words for Prayut (Xinhua 1): “[T]he two countries have over…

You know what time it is.
Time for another installment of Xi Jinping: International Man of Diplomacy.
On Tuesday, Xi got on the phone with:

Thai Prime Minister Prayut Chan-o-cha
Singaporean Prime Minister Lee Hsien Loong

Xi had some warm words for Prayut (Xinhua 1):

“[T]he two countries have over...

sources

Xinhua: Xi calls Southeast Asian leaders You know what time it is. Time for another installment of Xi Jinping: International Man of Diplomacy. On Tuesday, Xi got on the phone with: Thai Prime Minister Prayut Chan-o-cha Singaporean Prime Minister Lee Hsien Loong Xi had some warm words for Prayut (Xinhua 1): “[T]he two countries have overcome the impact of the COVID-19 epidemic and continuously advanced practical cooperation.” “The two sides…should better synergize the Belt and Road Initiative (BRI) and Thailand’s development strategies such as Thailand 4.0 and the Eastern Economic Corridor, promote cooperation in such innovative fields as e-commerce, and push for new development of their comprehensive strategic cooperative partnership.” Xi struck a similar tone with Lee (Xinhua 2): “China stands ready to work with Singapore to…jointly safeguard regional peace and stability.” Get smart: At a time when China’s international cred is diminishing, Xi is looking to make nice with regional neighbors. Get smarter: Thanks to acrimonious disputes over the South China Sea, Beijing doesn’t have a lot of friends in this neck of the woods, either. Required reading: Back in June, Lee wrote a piece in Foreign Affairs saying that Asian countries do not want to be forced to choose between China and the US. Check it out here.

Xinhua: Xi says anti-epidemic cooperation becomes new highlight of China-Singapore ties

Foreign Affairs: The Endangered Asian Century

July 15, 2020

State Council helps SMEs get paid by state customers

For almost three years, Li Keqiang has been prodding and niggling state firms and government agencies to pay what they owe to small, private firms. Progress has been, um,mixed. So, on Tuesday, the State Council signed off on new regulations formalizing payment conditions for small- and medium-sized …

For almost three years, Li Keqiang has been prodding and niggling state firms and government agencies to pay what they owe to small, private firms.
Progress has been, um,mixed.
So, on Tuesday, the State Council signed off on new regulations formalizing payment conditions for small- and medium-sized ...

sources

Gov.cn: 保障中小企业款项支付条例

Economic Observer: 国务院：不得拖欠中小企业款项

Xinhua: 李克强签署国务院令公布保障中小企业款项支付条例

July 15, 2020

Even more US-China drama

Recently, China’s foreign ministry (MoFA) has had its hands full responding to American “provocations.” On Tuesday, MoFA announced that it would sanction US aerospace and defense company Lockheed Martin, the principal contractor in a USD 620 million arms deal to Taiwan. MoFA did not say what specif…

Recently, China’s foreign ministry (MoFA) has had its hands full responding to American “provocations.”
On Tuesday, MoFA announced that it would sanction US aerospace and defense company Lockheed Martin, the principal contractor in a USD 620 million arms deal to Taiwan.

MoFA did not say what specif...

sources

SCMP: Beijing says it will sanction Lockheed Martin after US gives green light to Patriot missile deal for Taiwan

Gov.cn: 外交部声明

July 14, 2020

Beijing lowers epidemic risk levels

This morning, the National Health Commission (NHC) released the latest stats on COVID-19. On Monday (NHC): China reported three new confirmed COVID-19 cases and five new asymptomatic cases – all imported from abroad. Beijing reported zero new confirmed, asymptomatic, or suspected cases. What that …

This morning, the National Health Commission (NHC) released the latest stats on COVID-19.
On Monday (NHC):

China reported three new confirmed COVID-19 cases and five new asymptomatic cases – all imported from abroad.
Beijing reported zero new confirmed, asymptomatic, or suspected cases.

What that ...

sources

NHC: 截至7月13日24时新型冠状病毒肺炎疫情最新情况

Gov.cn: 北京昨日无新增报告新冠肺炎确诊病例

July 14, 2020

China tightens screws over industrial espionage

Beijing is looking to protect Chinese businesses against industrial espionage by foreign countries. How will the do it? By beefing up penalties for the theft of trade secrets– viaa proposed revision to thecriminal code. Some context: The revisionisa part of a wider set of amendments to the…

Beijing is looking to protect Chinese businesses against industrial espionage by foreign countries.
How will the do it? By beefing up penalties for the theft of trade secrets– viaa proposed revision to thecriminal code.
Some context: The revisionisa part of a wider set of amendments to the...

sources

SCMP: China sharpens economic espionage penalties in ‘tit-for-tat provision’ against US accusations of trade secret theft

July 14, 2020

China embraces Iran

Chinese investment is increasingly unwelcome in much of the West. But Chinese cash is certainly welcome in Iran (NYT): “Iran and China have quietly drafted a sweeping economic and security partnership that would clear the way for billions of dollars of Chinese investments in energy and other sector…

Chinese investment is increasingly unwelcome in much of the West.
But Chinese cash is certainly welcome in Iran (NYT):

“Iran and China have quietly drafted a sweeping economic and security partnership that would clear the way for billions of dollars of Chinese investments in energy and other sector...

sources

NYT: Defying U.S., China and Iran Near Trade and Military Partnership

July 14, 2020

If nautical nonsense be something you wish

Today’s Tip Sheet contains a double dose of Sino-American finger pointing (see previous entry). On Monday, the US State Department issued a statement rejecting China’s expansive and contentious territorial claims in the South China Sea (State Department): “Beijing’s claims to offshore resources acr…

Today’s Tip Sheet contains a double dose of Sino-American finger pointing (see previous entry).
On Monday, the US State Department issued a statement rejecting China’s expansive and contentious territorial claims in the South China Sea (State Department):

“Beijing’s claims to offshore resources acr...

sources

US DoS: U.S. Position on Maritime Claims in the South China Sea

The Paper: 美国国务院发表涉南海声明，中国驻美使馆回应

July 14, 2020

China imposes “reciprocal” sanctions on US officials

That’ll show ‘em! On Monday, foreign ministry (MoFA) spokeswoman Hua Chunying announced that China would impose sanctions on several US politicians for their outspoken criticism of Beijing’s human rights abuses against minority groups in Xinjiang. Some context: Last week, the US State Department ann…

That’ll show ‘em!
On Monday, foreign ministry (MoFA) spokeswoman Hua Chunying announced that China would impose sanctions on several US politicians for their outspoken criticism of Beijing’s human rights abuses against minority groups in Xinjiang.
Some context: Last week, the US State Department ann...

sources

Xinhua: China to impose sanctions on U.S. officials, institution for “acting viciously” on Xinjiang-related issues

US DoS: The United States Imposes Sanctions and Visa Restrictions in Response to the Ongoing Human Rights Violations and Abuses in Xinjiang

SCMP: US officials targeted by Beijing shrug off sanctions but vow to keep pressing on human rights

July 14, 2020

Data dump – trade

The customs bureau dropped the latest monthly trade data on Tuesday. The deets: Exports grew by 0.5% y/y – up from a 3.3% decline in May. Imports grew by 2.7% y/y – up significantly from a 16.7% decline in May. Quick take 1: That’s the first time imports have expanded y/ysince December 2…

The customs bureau dropped the latest monthly trade data on Tuesday.
The deets:

Exports grew by 0.5% y/y – up from a 3.3% decline in May.
Imports grew by 2.7% y/y – up significantly from a 16.7% decline in May.

Quick take 1: That’s the first time imports have expanded y/ysince December 2...

sources

Gov.cn: 国新办举行上半年进出口情况新闻发布会

Reuters: China posts first import growth since pandemic, exports also up

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