string(13) "markets-macro"

Macro

January 10, 2020

Breakthrough in oil and gas sector opening? Not yet

On Thursday, the Ministry of Natural Resources (MNR) released a key new document meant to open up oil and gas exploration. The most important part (MNR 2): “All companies registered in the PRCwith net assets of not less than RMB 300 million are eligible to obtain oil and gas mining rights in accord… Username Password… Read More »

On Thursday, the Ministry of Natural Resources (MNR) released a key new document meant to open up oil and gas exploration.
The most important part (MNR 2):

“All companies registered in the PRCwith net assets of not less than RMB 300 million are eligible to obtain oil and gas mining rights in accord...

sources

MNR: 自然资源部关于推进矿产资源管理改革若干事项的意见（试行）

MNR: 《自然资源部关于推进矿产资源管理改革若干事项的意见》新闻发布会

Caixin: 石油天然气上游市场准入全面放开

January 10, 2020

It’s a done deal

As we head into the weekend, the big US-China buzz is still all about the signing of the phase one trade deal set to take place next week. Vice Premier Liu He and company should be wheels down in DC on Monday – and set for the signing ceremony on Wednesday. The latest news is… Read More »

As we head into the weekend, the big US-China buzz is still all about the signing of the phase one trade deal set to take place next week.

Vice Premier Liu He and company should be wheels down in DC on Monday – and set for the signing ceremony on Wednesday.

The latest news is that companies are ge...

sources

Bloomberg: U.S., China Dust Off Corporate Deals Before Trade Pact Signing

January 9, 2020

State Council urges local governments and SOEs to pay their dues

Yesterday, the State Council did its thing – holding its weekly executive meeting. Top of the agenda: Making sure that government departments and state-owned enterprises (SOEs) clear their overdue payments to private firms and SMEs. Everyone agreed that this is of utmost importance (Gov.cn 2): …

Yesterday, the State Council did its thing – holding its weekly executive meeting.
Top of the agenda: Making sure that government departments and state-owned enterprises (SOEs) clear their overdue payments to private firms and SMEs.
Everyone agreed that this is of utmost importance (Gov.cn 2):
...

sources

Gov.cn: 李克强主持召开国务院常务会部署进一步做好清理政府部门和国有企业拖欠民营企业中小企业账款工作等

Gov.cn: Government departments and State-owned enterprises to meet overdue payments to smaller private companies as much as possible before the end of 2020

January 9, 2020

Political study campaign wraps up

On Wednesday, Party officials held a meeting to mark the end of Xi’s “staying true to the Party’s founding mission”study campaign. This meeting was a big deal: The entire Politburo Standing Committee (PBSC) attended – as did honorary PBSC member Wang Qishan. Some context: The study campaignhas …

On Wednesday, Party officials held a meeting to mark the end of Xi’s “staying true to the Party’s founding mission”study campaign.
This meeting was a big deal: The entire Politburo Standing Committee (PBSC) attended – as did honorary PBSC member Wang Qishan.
Some context: The study campaignhas ...

sources

Gov.cn: 习近平出席“不忘初心、牢记使命”主题教育总结大会并发表重要讲话

Gov.cn: 习近平：在“不忘初心、牢记使命”主题教育总结大会上的讲话

January 9, 2020

Back to basics – credit reporting edition

On Wednesday, central bank official Mu Changchun published an important op-ed urging checks on the expansion of the social credit system (SCS). Mu reminded everyone of the system’s original purpose (Caixin): “[A] credit reporting system helps satisfy lenders’ need for accurate, credible information…

“[A] credit reporting system helps satisfy lenders’ need for accurate, credible information...

sources

Caixin: 穆长春：征信不是超级警察

January 9, 2020

Data dump – inflation

Monthly inflation data for December dropped on Thursday morning. The details: Producer prices contracted by 0.5% – an improvement from the 1.4% contraction in November, but slightly under expectations of a 0.4% contraction. Consumer price growth stayed flat from November at 4.5% –coming in under ex…

Monthly inflation data for December dropped on Thursday morning.
The details:

Producer prices contracted by 0.5% – an improvement from the 1.4% contraction in November, but slightly under expectations of a 0.4% contraction.
Consumer price growth stayed flat from November at 4.5% –coming in under ex...

sources

Bloomberg: China’s Steadying Inflation Leaves Door Open for Monetary Easing

January 9, 2020

More Baoshang drama

The Baoshang bank saga continues – and as Caixin scoops it looks like there’s a new white knight: “Hong Kong-listed Huishang Bank Corp. Ltd. has disclosed a plan to purchase part of the assets and liabilities of a banking institution — an institution that Caixin has learned is Baoshang Bank, which …

The Baoshang bank saga continues – and as Caixin scoops it looks like there’s a new white knight:

“Hong Kong-listed Huishang Bank Corp. Ltd. has disclosed a plan to purchase part of the assets and liabilities of a banking institution — an institution that Caixin has learned is Baoshang Bank, which ...

sources

Caixin: Exclusive: In Wake of Baoshang Bank’s Collapse, Regional Lender Comes to the Rescue

January 9, 2020

Mr. Liu heads to Washington (again)

It’s official. Vice Premier Liu He is headed to DC next week to sign the phase one trade deal. On Tuesday afternoon Commerce Ministry Spokesman Gao Feng offered the first official government confirmation that the trip is taking place. It’s a good thing, because everyone – markets, businesses,…

It’s official. Vice Premier Liu He is headed to DC next week to sign the phase one trade deal.

On Tuesday afternoon Commerce Ministry Spokesman Gao Feng offered the first official government confirmation that the trip is taking place.

It’s a good thing, because everyone – markets, businesses,...

sources

Bloomberg: China Says Liu He to Travel to U.S. for Trade Deal Signing

January 8, 2020

Party strengthens role in SOEs

On Sunday, the Party issuednew rules governing Party groups instate-owned enterprises (SOEs). Some context (SCMP): “It is the first time that the Central Committee of China’s ruling Communist Party has issued a specific document articulating how a party unit, which answers only to an upper lev…

On Sunday, the Party issuednew rules governing Party groups instate-owned enterprises (SOEs).
Some context (SCMP):

“It is the first time that the Central Committee of China’s ruling Communist Party has issued a specific document articulating how a party unit, which answers only to an upper lev...

sources

Gov.cn: 中共中央印发《中国共产党国有企业基层组织工作条例（试行）》

SCMP: China cements Communist Party’s role at top of its SOEs, should ‘execute the will of the party’

January 8, 2020

Government looks to protect migrant workers

On Tuesday, the State Council approved new rules to guarantee migrant worker wages. Some context: The Ministry of Human Resources and Social Security (MoHRSS) drafted these rules over the summer and solicited public feedback in August. The highlights (Gov.cn): “Itis clearly stated in the …

On Tuesday, the State Council approved new rules to guarantee migrant worker wages.
Some context: The Ministry of Human Resources and Social Security (MoHRSS) drafted these rules over the summer and solicited public feedback in August.
The highlights (Gov.cn):

“Itis clearly stated in the ...

sources

Gov.cn: 保障农民工工资支付条例

Gov.cn: Govt releases regulation on guaranteeing wages for migrant workers

January 8, 2020

Xi keeps tabs on top Party-state organs

On Tuesday, the Politburo Standing Committee (PBSC) convened a meeting to hear work reports from the Party’s Central Secretariat, as well as Party groups from the: State Council National People’s Congress Chinese People’s Political Consultative Conference Supreme People’s Court Supreme People’s Pro…

On Tuesday, the Politburo Standing Committee (PBSC) convened a meeting to hear work reports from the Party’s Central Secretariat, as well as Party groups from the:

State Council
National People’s Congress
Chinese People’s Political Consultative Conference
Supreme People’s Court
Supreme People’s Pro...

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

January 8, 2020

Going against the grain (quota increase)

Recent weeks have seen significant progress on trade war negotiations. Which means we were overdue for a big, fat wrench to get thrown into the gears. On Tuesday, Caixin scooped that China would not raise its grain import quotas in order to facilitate imports from the United States. That’s according…

Recent weeks have seen significant progress on trade war negotiations.
Which means we were overdue for a big, fat wrench to get thrown into the gears.
On Tuesday, Caixin scooped that China would not raise its grain import quotas in order to facilitate imports from the United States.
That’s according...

sources

Caixin: China Won’t Raise Grain Import Quotas For U.S., Official Says

Reuters: China won’t hike grain import quotas for U.S. trade deal: Caixin

SCMP: Trade war: China’s refusal to lift grain quotas make Trump’s phase one import demands ‘more difficult’

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