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Macro

April 10, 2020

Plateau-no!

As the week comes to a close, business activity in China is struggling to get further liftoff, according to theTrivium Business Activity Index. Here are our calculations as of April 10: TheTrivium National Business Activity Indexindicates that China’s economy is operating at 81.8% of typical output… Username Password Remember Me Forgot Password

As the week comes to a close, business activity in China is struggling to get further liftoff, according to theTrivium Business Activity Index.
Here are our calculations as of April 10:

TheTrivium National Business Activity Indexindicates that China’s economy is operating at 81.8% of typical output...

sources

Trivium China: Trivium Business Activity Index

April 10, 2020

From Russia with COV(ID)

This morning, the National Health Commission (NHC) dropped the latest numbers for domestic COVID-19 cases. On April 9 (NHC): There were 42 new COVID-19 cases of which 38 were imported. There were 47 new asymptomatic cases of which 14 were imported. Now, in a strange turn of events, the national sp…

This morning, the National Health Commission (NHC) dropped the latest numbers for domestic COVID-19 cases.
On April 9 (NHC):

There were 42 new COVID-19 cases of which 38 were imported.
There were 47 new asymptomatic cases of which 14 were imported.

Now, in a strange turn of events, the national sp...

sources

NHC: 截至4月9日24时新型冠状病毒肺炎疫情最新情况

Sixth Tone: Suifenhe Building China’s First Pop-Up Hospital Outside Wuhan

The Paper: 黑龙江绥芬河加强疫情防控，对部分路段与车辆实行交通管制

The Paper: 绥芬河累计确诊输入性病例84例、无症状感染者127例

April 9, 2020

This time for Africa (and Turkey)

Regular Tip Sheet readers know that top Chinese leaders have been on a public relations kick in recent weeks, pledging moral and material support to countries still grappling with COVID-19. On Wednesday, Xi Jinping kept the warm fuzzies rolling with calls to more world leaders. This time, Xi phoned …

Regular Tip Sheet readers know that top Chinese leaders have been on a public relations kick in recent weeks, pledging moral and material support to countries still grappling with COVID-19.
On Wednesday, Xi Jinping kept the warm fuzzies rolling with calls to more world leaders.
This time, Xi phoned ...

sources

Xinhua: Xi says China will help Turkey purchase medical supplies

Xinhua: Xi says China will continue to support Africa in COVID-19 battle, capacity building

April 9, 2020

Responding to external uncertainties

On Wednesday, General Secretary Xi Jinping chaired a meeting of the Politburo Standing Committee (PBSC). Xi told the assembled that things in the rest of the world are bad. Real bad. And that’s bad for China: “As the pandemic continues its global spread, the world economy faces mounting downside ri…

“As the pandemic continues its global spread, the world economy faces mounting downside ri...

sources

CPC People: 中共中央政治局常务委员会召开会议中共中央总书记习近平主持会议

April 9, 2020

FSDC gets on the “more policy support” train

Over the past ten days or so, Party and state bodies across China have been looking to gradually ramp up policy support for the economy. In line with the State Council meeting on Tuesday, which called for (what else?!) increased support for SMEs, Vice Premier Liu He chaired a meeting of the Financia…

Over the past ten days or so, Party and state bodies across China have been looking to gradually ramp up policy support for the economy.
In line with the State Council meeting on Tuesday, which called for (what else?!) increased support for SMEs, Vice Premier Liu He chaired a meeting of the Financia...

sources

Gov.cn: 国务院金融稳定发展委员会召开第二十五次会议

Xinhua: China takes steps to prop up virus-hit economy

April 9, 2020

Can you vouch for that?

Over the past few days, policymakers have started going HAM on getting the economy back to full strength (see next entry). One critical element of the policy response: A growing number of city governments are handing out consumption vouchers to boost spending (see the March 26 Tip Sheet). …

Over the past few days, policymakers have started going HAM on getting the economy back to full strength (see next entry).
One critical element of the policy response: A growing number of city governments are handing out consumption vouchers to boost spending (see the March 26 Tip Sheet).
...

sources

The Paper: 浙江杭州2亿元消费券乘数效应凸显：11天撬动22亿元消费

April 9, 2020

Flattening the wrong curve

Business activity in China continues to inch upward according to theTrivium Business Activity Index. Here are our calculations as of April 9: TheTrivium National Business Activity Indexindicates that China’s economy is operating at 81.2% of typical output, up from 80.6% on April 8. TheTrivium Natio…

Business activity in China continues to inch upward according to theTrivium Business Activity Index.
Here are our calculations as of April 9:

TheTrivium National Business Activity Indexindicates that China’s economy is operating at 81.2% of typical output, up from 80.6% on April 8.
TheTrivium Natio...

sources

Trivium China: Trivium Business Activity Index

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April 9, 2020

No time to slack

This morning, the National Health Commission (NHC) dropped the latest numbers for domestic COVID-19 cases. On April 8 (NHC): There were 63 new confirmed cases, of which 61 were imported. There were also 56 new confirmed asymptomatic cases, of which 28 were imported. Certain parts of the country ar…

This morning, the National Health Commission (NHC) dropped the latest numbers for domestic COVID-19 cases.
On April 8 (NHC):

There were 63 new confirmed cases, of which 61 were imported.
There were also 56 new confirmed asymptomatic cases, of which 28 were imported.

Certain parts of the country ar...

sources

NHC: 截至4月8日24时新型冠状病毒肺炎疫情最新情况

Gov.cn: 国务院应对新型冠状病毒感染肺炎疫情联防联控机制关于印发新冠病毒无症状感染者管理规范的通知

Xinhua: China intensifies screening of asymptomatic COVID-19 infections

Gov.cn: 国务院应对新型冠状病毒感染肺炎疫情联防联控机制关于进一步做好重点场所重点单位重点人群新冠肺炎疫情防控相关工作的通知

April 9, 2020

Government steps in to support EV producers

The government will give more support to China’s struggling electric vehicle (EV) industry. Some context (Economic Daily): Over the first two months of the year, EV production dropped 63.8% y/y while sales dropped 59.5% y/y. Vice Minister of Industry and Information Technology Xin Guobin&nbsp…

The government will give more support to China’s struggling electric vehicle (EV) industry.
Some context (Economic Daily):

Over the first two months of the year, EV production dropped 63.8% y/y while sales dropped 59.5% y/y.

Vice Minister of Industry and Information Technology Xin Guobin ...

sources

The Paper: 工信部副部长辛国斌：将积极稳定和扩大新能源汽车消费

Economic Daily: 工信部：进一步放宽新能源汽车生产企业准入门槛

MIIT: 公开征求对《工业和信息化部关于修改新能源汽车生产企业及产品准入管理规定的决定（征求意见稿）》的意见

April 9, 2020

Li incentivizes microfinance companies to support small businesses

Tuesday’s State Council executive meeting also focused on helping small businesses(see previous entry). In particular, the government will seek to improvefinancing for: Small and micro-sized enterprises Household businesses Agricultural households One big thing: The meeting decided to extend …

Tuesday’s State Council executive meeting also focused on helping small businesses(see previous entry).
In particular, the government will seek to improvefinancing for:

Small and micro-sized enterprises
Household businesses
Agricultural households

One big thing: The meeting decided to extend ...

sources

Gov.cn: 李克强主持召开国务院常务会推出增设跨境电商综合试验区、支持加工贸易、广交会网上举办系列举措等

April 8, 2020

Business resumption update

Business activity in China continues its slow, upward grind, according to theTrivium Business Activity Index. Here are our calculations as of April 8: TheTrivium National Business Activity Indexindicates that China’s economy is operating at 80.6% of typical output, up from 79.0% on April 3. TheTriv…

Business activity in China continues its slow, upward grind, according to theTrivium Business Activity Index.
Here are our calculations as of April 8:

TheTrivium National Business Activity Indexindicates that China’s economy is operating at 80.6% of typical output, up from 79.0% on April 3.
TheTriv...

sources

Trivium China: Trivium Business Activity Index

April 8, 2020

Wuhan reopens, cautiously

This morning, the National Health Commission (NHC) dropped the latest numbers for domestic COVID-19 cases. The risk of cases being imported from abroad remains high. On April 7 (NHC): There were 62 new confirmed cases of which 59 were imported. There were also 137 new confirmed asymptomatic cases, …

This morning, the National Health Commission (NHC) dropped the latest numbers for domestic COVID-19 cases.
The risk of cases being imported from abroad remains high.
On April 7 (NHC):

There were 62 new confirmed cases of which 59 were imported.
There were also 137 new confirmed asymptomatic cases, ...

sources

NHC: 截至4月7日24时新型冠状病毒肺炎疫情最新情况

National Business Daily: 铁路部门：4月8日预计有5.5万余人乘火车离开武汉，去往珠三角旅客占总量四成左右

Wuhan Gov: 湖北省新型冠状病毒感染肺炎疫情防控指挥部通告

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