string(13) "markets-macro"

Macro

May 7, 2020

Data dump – trade

The General Administration of Customs dropped monthly trade numbers today. The verdict: Not horrible. The April stats: Exports were up 3.5% y/y. Imports were down 14.2% y/y. The trade surplus was USD 45.3 billion, up from USD 19.9 billion in March. Those export numbers surprised to the upside… Username Password Remember Me Forgot Password

The General Administration of Customs dropped monthly trade numbers today.
The verdict: Not horrible.
The April stats:

Exports were up 3.5% y/y.
Imports were down 14.2% y/y.
The trade surplus was USD 45.3 billion, up from USD 19.9 billion in March.

Those export numbers surprised to the upside...

sources

Gov.cn: 前4个月进出口9.07万亿元 4月份出口增长8.2%

CNBC: China says exports rose 3.5% in April, crushing expectations for a decline of 15.7%

Reuters: China April exports, imports set to plummet as virus crushes global demand: Reuters poll

May 7, 2020

Business activity inches up

As China has largely gotten the epidemic under control, depressed economic activity is showing signs of gradually picking up according to the Trivium Business Activity Index. Here are our estimates as of May 7: The Trivium National Business Activity Index indicates that China’s economy is…

The Trivium National Business Activity Index indicates that China’s economy is...

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Trivium China: Trivium Business Activity Index

May 7, 2020

Keeping the guard up

This morning, the National Health Commission (NHC) dropped the latest numbers for domestic COVID-19 cases. On May 6 (NHC): There were only two new confirmed cases, both imported. Some context: Since May 1, China has been reporting no more than three confirmed cases per day and has recorded no…

This morning, the National Health Commission (NHC) dropped the latest numbers for domestic COVID-19 cases.
On May 6 (NHC):

There were only two new confirmed cases, both imported.

Some context: Since May 1, China has been reporting no more than three confirmed cases per day and has recorded no...

sources

NHC: 截至5月6日24时新型冠状病毒肺炎疫情最新情况

Xinhua: 中共中央政治局常务委员会召开会议听取疫情防控工作中央指导组工作汇报研究完善常态化疫情防控体制机制中共中央总书记习近平主持会议

Xinhua: Xi chairs leadership meeting on improving systems for regular epidemic control

May 7, 2020

It’s not easy being green

Last Thursday, the general offices of the CCP Central Committee and the State Council issued a rubric for assessing provincial governments’ performance on environmental protection work. A CCP leading work group led by Executive Vice Premier Han Zheng will use the rubric to evaluate local officials….

Last Thursday, the general offices of the CCP Central Committee and the State Council issued a rubric for assessing provincial governments’ performance on environmental protection work.

A CCP leading work group led by Executive Vice Premier Han Zheng will use the rubric to evaluate local officials....

sources

Gov.cn: 中共中央办公厅国务院办公厅印发《省（自治区、直辖市）污染防治攻坚战成效考核措施》

May 7, 2020

Ambassador to US calls for calm

In case you haven’t noticed, COVID-19 has ratcheted up already tense relations with the US. In short: US officials have sought to blame the CCPfor not stopping the spread of the virus, and have been promoting a conspiracy theory that the virus leaked from a Chinese government laboratory. In respons…

In case you haven’t noticed, COVID-19 has ratcheted up already tense relations with the US.
In short:

US officials have sought to blame the CCPfor not stopping the spread of the virus, and have been promoting a conspiracy theory that the virus leaked from a Chinese government laboratory.
In respons...

sources

WaPo: Chinese ambassador: Ignoring the facts to blame China will only make things worse

May 6, 2020

Report to leaders says to prepare for Cold War

In case you haven’t noticed – US-China tensions are heating up. That’s why China’s top spy agency (MSS) has told Xi Jinping to be prepared for a new Cold War. The China Institutes of Contemporary International Relations (CICIR), which is overseen by MSS, presented a report to Xi Jinping in early Apr…

In case you haven’t noticed – US-China tensions are heating up.
That’s why China’s top spy agency (MSS) has told Xi Jinping to be prepared for a new Cold War.
The China Institutes of Contemporary International Relations (CICIR), which is overseen by MSS, presented a report to Xi Jinping in early Apr...

sources

Reuters: Internal Chinese report warns Beijing faces Tiananmen-like global backlash over virus

May 6, 2020

Yi Gang is all in on fintech

Over the weekend, Caixin reported the details of a speech by central bank (PBoC) governor Yi Gang. The speech took place on April 17. Any time Yi speaks, it’s worth listening to – even after the fact. The topic of the forum: Fintech. Yi’s remarks were primarily geared toward fintech’s abilit…

Over the weekend, Caixin reported the details of a speech by central bank (PBoC) governor Yi Gang.

The speech took place on April 17.
Any time Yi speaks, it’s worth listening to – even after the fact.

The topic of the forum: Fintech.

Yi’s remarks were primarily geared toward fintech’s abilit...

sources

Caixin: 易纲：中国经济预计将在下半年恢复潜在增速

May 6, 2020

FSDC looks to fight fraud amid stimulus

On Monday, Vice Premier Liu He chaired a meeting of the financial stability and Development Committee (FSDC). Some context: The FSDC was created in 2017 to coordinate financial and economic policy. Since the outbreak of COVID-19, the group has dramatically increased the frequency of their meeti…

On Monday, Vice Premier Liu He chaired a meeting of the financial stability and Development Committee (FSDC).
Some context: The FSDC was created in 2017 to coordinate financial and economic policy. Since the outbreak of COVID-19, the group has dramatically increased the frequency of their meeti...

sources

21st Century Biz: 刘鹤主持召开国务院金融稳定发展委员会第二十八次会议

May 6, 2020

Labor Day holiday consumption disappoints

Before the holiday, we told you not to expect a wave of revenge traveling during the Labor Day break (see April 30 Tip Sheet). According to figures released last night by the Ministry of Culture and Tourism, between May 1 and 5, the country saw (Jiemian): 115 million domestic trips Tourism revenue …

Before the holiday, we told you not to expect a wave of revenge traveling during the Labor Day break (see April 30 Tip Sheet).
According to figures released last night by the Ministry of Culture and Tourism, between May 1 and 5, the country saw (Jiemian):

115 million domestic trips
Tourism revenue ...

sources

Jiemian: 五一假期全国1.15亿人次出游，国内旅游收入475.6亿元

BJ News: “五一”重点监测商企实现销售额39.6亿元

May 6, 2020

Vacation’s all I ever wanted

As you no doubt noticed from the painful absence of the Tip Sheet in your inbox, May 1-5 was a public holiday in China. Folks took advantage of the Labor Day holiday to get out and about, booking (mostly local) tours and visiting tourist sites for the first time in a long time (see April… Read More »

As you no doubt noticed from the painful absence of the Tip Sheet in your inbox, May 1-5 was a public holiday in China.
Folks took advantage of the Labor Day holiday to get out and about, booking (mostly local) tours and visiting tourist sites for the first time in a long time (see April 29 Tip Shee...

sources

NHC: 截至5月5日24时新型冠状病毒肺炎疫情最新情况

21st Century Biz: 全国中风险地区将于明日“清零”！绥芬河、哈尔滨南岗区已降至低风险地区

April 30, 2020

Legislature concludes bi-monthly meeting

Yesterday, the National People’s Congress Standing Committee (NPCSC) – China’s legislature – finished up its bi-monthly gathering. The legislature passed one law: A revision to theLaw on the Prevention and Control of Environmental Pollution by Solid Waste They also discussed the agend for the upco…

Yesterday, the National People’s Congress Standing Committee (NPCSC) – China’s legislature – finished up its bi-monthly gathering.
The legislature passed one law:

A revision to theLaw on the Prevention and Control of Environmental Pollution by Solid Waste

They also discussed the agend for the upco...

sources

Xinhua: China to open “two sessions” in May, step up public health legislation

April 30, 2020

Premier Li makes nice with EU leader

On Wednesday, Premier Li Keqiang spoke with European Commission President Ursula von der Leyen. Some context: The call comes amid the backdrop of a tense week for Sino-EU relations. The two have been squabbling behind the scenes about whether or not China is waging a “global disinformation camp…

On Wednesday, Premier Li Keqiang spoke with European Commission President Ursula von der Leyen.
Some context: The call comes amid the backdrop of a tense week for Sino-EU relations. The two have been squabbling behind the scenes about whether or not China is waging a “global disinformation camp...

sources

Gov.cn: 李克强同欧盟委员会主席冯德莱恩通电话

Gov.cn: Premier holds phone conversation with EU chief

NYT: Pressured by China, E.U. Softens Report on Covid-19 Disinformation

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