string(13) "markets-macro"

Macro

September 28, 2024

PBoC Watch: Paving the way for fiscal stimulus

To view the PBoC Watch as a pdf click here. After a quiet few months on the economic policy front, officials ramped up activity in the last week of September. The week started with a series of relief measures from financial regulators – which we detail below – preparing the ground for an imminent in…… Read More »

To view the PBoC Watch as a pdf click here.
After a quiet few months on the economic policy front, officials ramped up activity in the last week of September. The week started with a series of relief measures from financial regulators – which we detail below – preparing the ground for an imminent in...

September 27, 2024

Flash talk | Monetary support and the promise of fiscal stimulus

It’s been a BIG week for economic policy. On September 24, the central bank (PBoC) rolled out a range of monetary support measures to bolster the economy, boost share prices, and provide property developers with financial relief. Then on September 26, the Politburo surprised everyone by dedicating …

It's been a BIG week for economic policy.

On September 24, the central bank (PBoC) rolled out a range of monetary support measures to bolster the economy, boost share prices, and provide property developers with financial relief.
Then on September 26, the Politburo surprised everyone by dedicating ...

September 27, 2024

Beijing announces support is on the way for beef, dairy industries

Beijing is stepping in to support China’s cattle farmers. On Thursday, the ag ministry (MARA) and seven other central agencies issued a notice on stabilizing the development of the beef and dairy industries. At issue: China has invested heavily in expanding beef and dairy production for food securit…

Beijing is stepping in to support China's cattle farmers.
On Thursday, the ag ministry (MARA) and seven other central agencies issued a notice on stabilizing the development of the beef and dairy industries.
At issue: China has invested heavily in expanding beef and dairy production for food securit...

sources

Gov.cn: 农业农村部国家发展改革委工业和信息化部财政部中国人民银行市场监管总局金融监管总局关于促进肉牛奶牛生产稳定发展的通知

Reuters: China dairy farms swim in milk as fewer babies, slow economy cut demand

September 27, 2024

Australian treasurer praises China’s stimulus package at strategic economic dialogue

China and Australia have taken another step toward getting relations back on track. On Thursday, the macro planner (NDRC) chairman, Zheng Shanjie, met with Australian Treasurer Jim Chalmers at the fourth China-Australia Strategic Economic Dialogue (SED) in Beijing. Some context: The last SED was hel…

China and Australia have taken another step toward getting relations back on track.
On Thursday, the macro planner (NDRC) chairman, Zheng Shanjie, met with Australian Treasurer Jim Chalmers at the fourth China-Australia Strategic Economic Dialogue (SED) in Beijing.
Some context: The last SED was hel...

sources

NDRC: 中澳第四次战略经济对话在北京成功召开

Australian Government: The Fourth Strategic Economic Dialogue between the People’s Republic of China and Australia is successfully convened in Beijing

Reuters: Australia Treasurer visits Beijing, discusses trade, investment and recent stimulus

September 27, 2024

MofCom clarifies landmark anti-discrimination investigation

On Thursday, MofCom published a circular answering our burning questions about its landmark anti-discrimination investigation (ADI) into recent Canadian trade restrictions. ICYMI: China announced the first-of-its-kind probe in early September after Canada imposed tariffs on Chinese electric vehicles…

On Thursday, MofCom published a circular answering our burning questions about its landmark anti-discrimination investigation (ADI) into recent Canadian trade restrictions.
ICYMI: China announced the first-of-its-kind probe in early September after Canada imposed tariffs on Chinese electric vehicles...

sources

MofCom: 商务部关于就加拿大对华相关限制性措施进行反歧视调查的公告

Global Times: （薛熠、郑燕）反歧视调查，打破贸易保护的新范式

Reuters: Trudeau survives vote of confidence in Canadian parliament, new threat looms

September 27, 2024

Jin Zhuanglong talks open source software

Open source is moving up the political ladder. On Wednesday, Minister of Industry and Information Technology Jin Zhuanglong gave a speech at the 2024 OpenAtom Foundation conference. OpenAtom is China’s only official open source software foundation. That’s a feather in OpenAtom’s hat: Last year, …

Open source is moving up the political ladder.
On Wednesday, Minister of Industry and Information Technology Jin Zhuanglong gave a speech at the 2024 OpenAtom Foundation conference.

OpenAtom is China's only official open source software foundation.

That's a feather in OpenAtom's hat: Last year, ...

sources

MIIT: 2024开放原子开源生态大会在北京举行

September 27, 2024

MIIT forms Artificial Intelligence Standards Committee

On Wednesday, the industrial ministry (MIIT) released a list of members of the new Artificial Intelligence Standardization Committee. Some context: In July, MIIT announced that they would form a standards committee to focus on large model standardization. Why we care: This group of people will be h…

On Wednesday, the industrial ministry (MIIT) released a list of members of the new Artificial Intelligence Standardization Committee.
Some context: In July, MIIT announced that they would form a standards committee to focus on large model standardization.
Why we care: This group of people will be h...

sources

MIIT: 工业和信息化部人工智能标准化技术委员会委员名单公示

September 27, 2024

Wang Yi hawks China’s AI principles in New York

Foreign Minister Wang Yi is in New York for the UN General Assembly, and he’s making the most of his trip. On Wednesday, Wang co-chaired the “High-level Meeting on International Cooperation in Artificial Intelligence Capacity Building” on the sidelines of the assembly. The meeting was organized in …

Foreign Minister Wang Yi is in New York for the UN General Assembly, and he's making the most of his trip.
On Wednesday, Wang co-chaired the "High-level Meeting on International Cooperation in Artificial Intelligence Capacity Building" on the sidelines of the assembly.

The meeting was organized in ...

sources

MoFA: 王毅出席“人工智能能力建设国际合作高级别会议”

September 26, 2024

Commercial paper defaults show local debt woes deepening

The financial struggles of local government financing vehicles (LGFVs) are intensifying. In August, the number of LGFVs with repeated defaults on commercial acceptance drafts (CADs) reached a new high of 84, marking the fourth consecutive monthly increase. Refresher: CADs are tradable, non-interest-…

The financial struggles of local government financing vehicles (LGFVs) are intensifying.
In August, the number of LGFVs with repeated defaults on commercial acceptance drafts (CADs) reached a new high of 84, marking the fourth consecutive monthly increase.
Refresher: CADs are tradable, non-interest-...

sources

SHCPE: 截至2024年8月31日承兑人逾期名单

SHCPE: 截至2024年8月31日持续逾期名单

September 26, 2024

MLF rate declines 30 bps

On Wednesday, the central bank (PBoC) cut the interest rate it charges banks for funds it lends via the medium-term lending facility (MLF) by 30 bps. ICYMI: On Tuesday, the PBoC cut the interest rate on seven-day repos – its key policy rate – by 20 bps. PBoC Governor Pan Gongsheng said he expected …

On Wednesday, the central bank (PBoC) cut the interest rate it charges banks for funds it lends via the medium-term lending facility (MLF) by 30 bps.
ICYMI: On Tuesday, the PBoC cut the interest rate on seven-day repos – its key policy rate – by 20 bps.

PBoC Governor Pan Gongsheng said he expected ...

sources

PBoC: 2024年9月中期借贷便利开展情况

September 26, 2024

Hey, big spender

Beijing is reportedly planning to issue trillions of yuan worth of bonds to stimulate the economy, rescue local governments, and recapitalize its banks. That’s according to scoops published by Reuters and Bloomberg on Thursday. According to Reuters, Beijing is considering issuing RMB 2 trillion wort…

Beijing is reportedly planning to issue trillions of yuan worth of bonds to stimulate the economy, rescue local governments, and recapitalize its banks.
That’s according to scoops published by Reuters and Bloomberg on Thursday.
According to Reuters, Beijing is considering issuing RMB 2 trillion wort...

sources

Reuters: Exclusive: China to issue $284 billion of sovereign debt this year to help revive economy

Bloomberg: China Weighs $142 Billion Capital Injection Into Top Banks

September 26, 2024

Politburo signals fiscal support is coming

Beijing is gearing up to release additional fiscal stimulus. Following its monthly meeting on Thursday, the Politburo issued a statement saying authorities will: “Increase the intensity of countercyclical adjustment of fiscal and monetary policies” Well, this was unexpected. The Politburo meets t…

Beijing is gearing up to release additional fiscal stimulus.
Following its monthly meeting on Thursday, the Politburo issued a statement saying authorities will:

“Increase the intensity of countercyclical adjustment of fiscal and monetary policies”

Well, this was unexpected.

The Politburo meets t...

sources

State Council: 中共中央政治局召开会议分析研究当前经济形势和经济工作中共中央总书记习近平主持会议

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