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Macro

April 17, 2020

Tag-team telecomforting

No prizes for guessing what Xi Jinping and Premier Li Keqiang got up to on Thursday. No, not making BFF bracelets in the halls of Zhongnanhai. Instead, the duo once again hopped on the phone to various world leaders to offer aid and support in the global fight against the coronavirus. Some context… Username Password… Read More »

No prizes for guessing what Xi Jinping and Premier Li Keqiang got up to on Thursday.

No, not making BFF bracelets in the halls of Zhongnanhai.

Instead, the duo once again hopped on the phone to various world leaders to offer aid and support in the global fight against the coronavirus.
Some context...

sources

Xinhua: Xi holds phone talks with Putin on COVID-19 pandemic

CGTN: China to support Poland’s fight against the coronavirus: Chinese PM

Gov.cn: Premier Li talks with Sudan’s PM over phone

April 17, 2020

Breaker of chains

2020 is going to go down in the books as a bad year for globalization. We’ll let Xu Kemin, director of the Ministry of Industry and Information Technology (MIIT) Department of Industrial Policyand Regulationsexplain why (MIIT): “Due to the poor flow of international personnel and logistics, enterpr…

2020 is going to go down in the books as a bad year for globalization.
We’ll let Xu Kemin, director of the Ministry of Industry and Information Technology (MIIT) Department of Industrial Policyand Regulationsexplain why (MIIT):

“Due to the poor flow of international personnel and logistics, enterpr...

sources

MIIT: 国务院联防联控机制新闻发布会介绍民营企业、中小企业有序推进复工复产情况

SCMP: China turbine makers winded after Ecuador lockdown leaves them without blades

Bloomberg: China’s Fledgling Car Rebound Faces Risks of Parts Shortage

Caixin: As Pandemic Epicenter Moves Abroad, Chinese Excavator-Makers Raise Prices

April 16, 2020

The storm after the storm

Wednesday was National Security Day in China. To mark the occasion, director of the Hong Kong Liaison Office Luo Huining, released a speech. Some context: Luo is the mainland’s top official in Hong Kong. He was appointed in January to get control of the city after half a year of disruptive prot…

Wednesday was National Security Day in China.
To mark the occasion, director of the Hong Kong Liaison Office Luo Huining, released a speech.
Some context: Luo is the mainland’s top official in Hong Kong. He was appointed in January to get control of the city after half a year of disruptive prot...

sources

People.cn: 骆惠宁：维护国家安全需要良好的制度、法治、社会环境

Reuters: Top China official to Hong Kong urges national security law “as soon as possible”

April 16, 2020

Things we said today

On Wednesday, China’s top diplomat, Yang Jiechi, got on the phone with US Secretary of State Mike Pompeo. Some context: The two last talked about a month ago in a phone call that was, shall we say, a bit tense (see March 17 Tip Sheet). What was on the agenda you ask? Exchanging sick burns …

On Wednesday, China’s top diplomat, Yang Jiechi, got on the phone with US Secretary of State Mike Pompeo.
Some context: The two last talked about a month ago in a phone call that was, shall we say, a bit tense (see March 17 Tip Sheet).
What was on the agenda you ask? Exchanging sick burns ...

sources

US Department of State: Secretary Michael R. Pompeo’s Call with Chinese Politburo Member Yang Jiechi

CPC People: 杨洁篪应约同美国国务卿蓬佩奥通电话

SCMP: Coronavirus: Mike Pompeo urges China for ‘full transparency’ in call with top diplomat Yang Jiechi

April 16, 2020

Policymakers up the urgency

Financial Stability and Development Committee (FSDC) officials aren’t the only ones calling for enhanced economic policy support (see previous entry). We’ve noticed a marked uptick in urgency in policymakers’ attitudes toward getting the economy up and running since the end of March. While we’ve d…

Financial Stability and Development Committee (FSDC) officials aren’t the only ones calling for enhanced economic policy support (see previous entry).

We’ve noticed a marked uptick in urgency in policymakers’ attitudes toward getting the economy up and running since the end of March.

While we’ve d...

sources

Trivium: These aren’t the plateaus you’re looking for

April 16, 2020

FSDC calls for more policy support (again)

On Wednesday, Vice Premier Liu He chaired a meeting of the Financial Stability and Development Committee (FSDC). Some context: The FSDC was created in July 2017 to help coordinate financial and economic policy among various government agencies. More context: The FSDC has held meetings on a…

On Wednesday, Vice Premier Liu He chaired a meeting of the Financial Stability and Development Committee (FSDC).
Some context: The FSDC was created in July 2017 to help coordinate financial and economic policy among various government agencies.
More context: The FSDC has held meetings on a...

sources

Gov.cn: 刘鹤主持国务院金融稳定发展委员会第二十六次会议

April 16, 2020

Waiting for GDP Day

Tomorrow is the day we’ve all been waiting for – Q1 GDP day. That’s right, the stats bureau will drop the top-line econ stats for Q1 2020 on Friday, alongside monthly data for March. As anyone who read our March 26 macro note will know: We expect the Q1 numbers to be bad – real bad. Our… Read More »

Tomorrow is the day we’ve all been waiting for – Q1 GDP day.
That’s right, the stats bureau will drop the top-line econ stats for Q1 2020 on Friday, alongside monthly data for March.
As anyone who read our March 26 macro note will know:

We expect the Q1 numbers to be bad – real bad.
Our e...

sources

Reuters: Coronavirus to push China’s first-quarter GDP into first decline on record: Reuters poll

April 16, 2020

Hubei struggles to get back to work

Business activity in China continues its slow, upward grind, according to theTrivium Business Activity Index. Here are our estimates as of April 16: TheTrivium National Business Activity Indexindicates that China’s economy is operating at 82.8% of typical output, up from 82.6% on April 15. TheTrivi…

Business activity in China continues its slow, upward grind, according to theTrivium Business Activity Index.
Here are our estimates as of April 16:

TheTrivium National Business Activity Indexindicates that China’s economy is operating at 82.8% of typical output, up from 82.6% on April 15.
TheTrivi...

sources

Trivium China: Trivium Business Activity Index

April 16, 2020

Don’t panic…yet

Yesterday, for the first time, the National Health Commission (NHC) revealed some details about China’s asymptomatic COVID-19 cases. 6, 764 asymptomatic cases have been reported so far nationwide. Since first being identified, 1,297 asymptomatic cases, about one-fifth of the total, had developed sy…

Yesterday, for the first time, the National Health Commission (NHC) revealed some details about China’s asymptomatic COVID-19 cases.

6, 764 asymptomatic cases have been reported so far nationwide.
Since first being identified, 1,297 asymptomatic cases, about one-fifth of the total, had developed sy...

sources

NHC: 截至4月15日24时新型冠状病毒肺炎疫情最新情况

Gov.cn: 全国累计报告无症状感染者6764例

April 15, 2020

Party pushes people pleasing

The general office of the CCP Central Committee just issued a new notice to cut cadres some slack. Some context: This is a follow up to last year’s campaign to alleviate burdens on grassroots officials(see March 12, 2019 Tip Sheet). Predicting a rough year ahead for promoting social and ec…

The general office of the CCP Central Committee just issued a new notice to cut cadres some slack.
Some context: This is a follow up to last year’s campaign to alleviate burdens on grassroots officials(see March 12, 2019 Tip Sheet).
Predicting a rough year ahead for promoting social and ec...

sources

Gov.cn: 中共中央办公厅印发《关于持续解决困扰基层的形式主义问题为决胜全面建成小康社会提供坚强作风保证的通知》

Gov.cn: 中央办公厅有关负责人就《中共中央办公厅关于持续解决困扰基层的形式主义问题为决胜全面建成小康社会提供坚强作风保证的通知》答记者问

April 15, 2020

Are you there, world? It’s me, Xi.

You know what time it is… Time for another Xi Jinping-calls-the-world telethon round-up! Some context: As regular (or even irregular) Tip Sheet readers know by now, Xi Jinping has embarked on a telephonic COVID-19 sympathy tour in the last few weeks, calling world leaders with expressions of su…

You know what time it is…
Time for another Xi Jinping-calls-the-world telethon round-up!
Some context: As regular (or even irregular) Tip Sheet readers know by now, Xi Jinping has embarked on a telephonic COVID-19 sympathy tour in the last few weeks, calling world leaders with expressions of su...

sources

Xinhua: Xi says China to help Finland address shortage of anti-epidemic supplies

Xinhua: Xi says China to continue helping Kyrgyzstan fight COVID-19

Xinhua: Xi says joint COVID-19 fight shows China-Serbia brotherhood

April 15, 2020

You, me, and ASEAN + 3

On Tuesday, Premier Li Keqiang attended a video summit on COVID-19 for members of the ASEAN + 3 bloc. In case you forgot: “ASEAN + 3” refers to the 10 ASEAN nations plus China, Japan, and South Korea. As the assembled leaders discussed various measures for addressing the challenges posed by the…

On Tuesday, Premier Li Keqiang attended a video summit on COVID-19 for members of the ASEAN + 3 bloc.
In case you forgot: “ASEAN + 3” refers to the 10 ASEAN nations plus China, Japan, and South Korea.
As the assembled leaders discussed various measures for addressing the challenges posed by the...

sources

MoFA: Speech by H.E. Li Keqiang Premier of the State Council of the People’s Republic of China At Special ASEAN Plus Three Summit on COVID-19

SCMP: Asean holds special coronavirus summit, but will the bloc’s plans come to fruition?

Bangkok Post: Asean+3 declares war on virus

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