string(13) "markets-macro"

Macro

January 8, 2020

PBoC pushes QR code integration

China’s central bank (PBoC) is looking to strong arm the country’s tech giants. Specifically, the PBoC wants to create an integrated QR code system – so that all mobile payment options in China are compatible. That will help the PBoC’s UnionPay system compete with the mobile payment giants of … Username Password Remember Me … Read More »

China’s central bank (PBoC) is looking to strong arm the country’s tech giants.

Specifically, the PBoC wants to create an integrated QR code system – so that all mobile payment options in China are compatible.
That will help the PBoC’s UnionPay system compete with the mobile payment giants of ...

sources

Caixin: Exclusive: Tencent Gives Ground to UnionPay as Central Bank Pushes for Mobile Payment Integration

January 8, 2020

FSDC talks SMEs

On Tuesday, Vice Premier Liu He chaired the latest meeting of the State Council’s Financial Stability and Development Committee (FSDC). Some context: This was the FSDC’s 14th meeting since its creation in 2017. The committee’s purpose is to help coordinate policy across the various financial re…

On Tuesday, Vice Premier Liu He chaired the latest meeting of the State Council’s Financial Stability and Development Committee (FSDC).
Some context: This was the FSDC’s 14th meeting since its creation in 2017. The committee’s purpose is to help coordinate policy across the various financial re...

sources

Gov.cn: 国务院金融稳定发展委员会召开第十四次会议

January 7, 2020

MoST ramps up FYP research

This year,government departments will be busy drafting their 14th Five-Year Plans (FYP), which will guide their work from 2021-2025. As part of the research and writing process for the science and technology (ST) FYP, last week the Ministry of Science and Technology (MoST) asked industry players for…

This year,government departments will be busy drafting their 14th Five-Year Plans (FYP), which will guide their work from 2021-2025.
As part of the research and writing process for the science and technology (ST) FYP, last week the Ministry of Science and Technology (MoST) asked industry players for...

sources

Ministry of Science and Technology: 科技部关于开展国家重点研发计划“十四五”重大研发需求征集工作的通知

January 7, 2020

Hand in hand and side by side

On Monday, Xi Jinping rolled out the red carpet for President Taneti Mamau of Kiribati and Prime Minister Thongloun Sisoulith of Laos during their respective visits to Beijing. What’s the occasion, you ask? Kiribati switched its recognition from Taipei to Beijing back in September (see Septemb…

Kiribati switched its recognition from Taipei to Beijing back in September (see Septemb...

sources

Xinhua: Kiribati on right side of history by resuming diplomatic ties with China: Xi

Xinhua: Xi says China, Laos enjoy shared future

The Guardian: ‘On right side of history’: Xi Jinping praises Kiribati for switch to China

January 7, 2020

CBIRC coming in hot in 2020

On Monday, officials from the banking and insurance regulator (CBIRC) held a press conference to explain new guiding opinionsto improve performance in the banking and insurance sectors. Some context: The new regs were published on January 3 – Monday’s presser was a follow up. At the presser…

On Monday, officials from the banking and insurance regulator (CBIRC) held a press conference to explain new guiding opinionsto improve performance in the banking and insurance sectors.
Some context: The new regs were published on January 3 – Monday’s presser was a follow up.
At the presser...

sources

CBIN: 推动行业更好发展服务现代化经济体系建设

CBIRC: 中国银保监会关于推动银行业和保险业高质量发展的指导意见

January 7, 2020

2019 local tax revenues in the doldrums

There’s another reason financial policymakers are looking to boost the local government bond market (see previous entry). Local governments are strapped for cash. 2019 was the worst year for revenue growth in decades for some provinces (Caixin): “Shanghai municipality, East China’s Shandong provi…

There’s another reason financial policymakers are looking to boost the local government bond market (see previous entry).

Local governments are strapped for cash.

2019 was the worst year for revenue growth in decades for some provinces (Caixin):

“Shanghai municipality, East China’s Shandong provi...

sources

Caixin: Local Governments Miss 2019 Revenue Targets

January 7, 2020

Foreign banks encouraged to underwrite local bonds

This is new. The Ministry of Finance (MoF) is now encouraging provincial governments to give foreign banks more leeway to underwrite local government bonds. That’s according to a statement the ministry published on Monday. Specifically, MoF will guide the provinces in revising the rules under whic…

This is new.
The Ministry of Finance (MoF) is now encouraging provincial governments to give foreign banks more leeway to underwrite local government bonds.

That’s according to a statement the ministry published on Monday.

Specifically, MoF will guide the provinces in revising the rules under whic...

sources

MoF: 财政部积极指导各地吸引外资银行参与地方政府债券承销推动金融业高水平对外开放

Xinhua: China encourages foreign-invested banks to underwrite local gov’t bonds

January 6, 2020

Hong Kong Liaison Office gets new chief

There’s a new top PRC official in Hong Kong. On Saturday, the government announced that Luo Huining will be taking over as head of the Liaison Office in Hong Kong. Why that’s weird: Luo has already reached retirement age. Just one week ago, Luo had been appointed deputy director of the legislat…

There’s a new top PRC official in Hong Kong.
On Saturday, the government announced that Luo Huining will be taking over as head of the Liaison Office in Hong Kong.
Why that’s weird: Luo has already reached retirement age. Just one week ago, Luo had been appointed deputy director of the legislat...

sources

CPC People: 骆惠宁任中央人民政府驻香港特别行政区联络办公室主任

January 6, 2020

State Council aims to boost manufacturing sector

The State Council kicked off the new year on Friday with an executive meeting. Top of the agenda: Developing the manufacturing sector. Some context: Since August, the Party has been increasingly focused on helping China’s struggling manufacturing sector. We may see some more tax cuts (Gov.cn): …

The State Council kicked off the new year on Friday with an executive meeting.
Top of the agenda: Developing the manufacturing sector.
Some context: Since August, the Party has been increasingly focused on helping China’s struggling manufacturing sector.
We may see some more tax cuts (Gov.cn):
...

sources

Gov.cn: China to maintain manufacturing growth, upgrade service outsourcing

Gov.cn: 李克强主持召开国务院常务会议确定促进制造业稳增长的措施等

January 6, 2020

Party looks to develop Chengdu and Chongqing

On Friday, Xi Jinping chaired a meeting of the Central Commission for Financial and Economic Affairs (CCFEA). Some context: The CCFEA is the Party’s top body for deliberating economic strategies. The meeting focused on two topics (Xinhua): “Chinese President Xi Jinping on Friday stressed effor…

On Friday, Xi Jinping chaired a meeting of the Central Commission for Financial and Economic Affairs (CCFEA).
Some context: The CCFEA is the Party’s top body for deliberating economic strategies.
The meeting focused on two topics (Xinhua):

“Chinese President Xi Jinping on Friday stressed effor...

sources

Gov.cn: 习近平主持召开中央财经委员会第六次会议

Xinhua: Xi stresses eco-conservation of Yellow River basin, Chengdu-Chongqing economic circle development

January 6, 2020

New national AMC in the works

On December 31, Chinese financial media reported that the country is getting closer to having a fifth asset management company (AMC) which can conduct business nationwide. That’s according to Li Mei, chairman of state-owned China Galaxy Financial Holdings Company. In a New Year’s letter, Li revealed…

On December 31, Chinese financial media reported that the country is getting closer to having a fifth asset management company (AMC) which can conduct business nationwide.
That’s according to Li Mei, chairman of state-owned China Galaxy Financial Holdings Company.
In a New Year’s letter, Li revealed...

sources

The Paper: 建投中信成第五家全国性AMC？已就架构、制度等向信达取经

January 6, 2020

Central bank unveils 2020 priorities

On Sunday, the People’s Bank of China (PBoC) released a readout of its annual work conference held last week. The meeting outlined the bank’s top priorities for 2020. The big takeaway: Financial institutions will continue to be in the crosshairs as regulators press on with the financial de-risk…

On Sunday, the People’s Bank of China (PBoC) released a readout of its annual work conference held last week.
The meeting outlined the bank’s top priorities for 2020.
The big takeaway: Financial institutions will continue to be in the crosshairs as regulators press on with the financial de-risk...

sources

PBoC: 2020年中国人民银行工作会议在京召开

Xinhua: China Focus: China’s central bank outlines policy priorities for 2020

Pages: 1234567891011121314151617181920212223242526272829303132333435363738394041424344454647484950515253545556575859606162636465666768697071727374757677787980818283848586878889909192939495969798991001011021031041051061071081091101111121131141151161171181191201211221231241251261271281291301311321331341351361371381391401411421431441451461471481491501511521531541551561571581591601611621631641651661671681691701711721731741751761771781791801811821831841851861871881891901911921931941951961971981992002012022032042052062072082092102112122132142152162172182192202212222232242252262272282292302312322332342352362372382392402412422432442452462472482492502512522532542552562572582592602612622632642652662672682692702712722732742752762772782792802812822832842852862872882892902912922932942952962972982993003013023033043053063073083093103113123133143153163173183193203213223233243253263273283293303313323333343353363373383393403413423433443453463473483493503513523533543553563573583593603613623633643653663673683693703713723733743753763773783793803813823833843853863873883893903913923933943953963973983994004014024034044054064074084094104114124134144154164174184194204214224234244254264274284294304314324334344354364374384394404414424434444454464474484494504514524534544554564574584594604614624634644654664674684694704714724734744754764774784794804814824834844854864874884894904914924934944954964974984995005015025035045055065075085095105115125135145155165175185195205215225235245255265275285295305315325335345355365375385395405415425435445455465475485495505515525535545555565575585595605615625635645655665675685695705715725735745755765775785795805815825835845855865875885895905915925935945955965975985996006016026036046056066076086096106116126136146156166176186196206216226236246256266276286296306316326336346356366376386396406416426436446456466476486496506516526536546556566576586596606616626636646656666676686696706716726736746756766776786796806816826836846856866876886896906916926936946956966976986997007017027037047057067077087097107117127137147157167177187197207217227237247257267277287297307317327337347357367377387397407417427437447457467477487497507517527537547557567577587597607617627637647657667677687697707717727737747757767777787797807817827837847857867877887897907917927937947957967977987998008018028038048058068078088098108118128138148158168178188198208218228238248258268278288298308318328338348358368378388398408418428438448458468478488498508518528538548558568578588598608618628638648658668678688698708718728738748758768778788798808818828838848858868878888898908918928938948958968978988999009019029039049059069079089099109119129139149159169179189199209219229239249259269279289299309319329339349359369379389399409419429439449459469479489499509519529539549559569579589599609619629639649659669679689699709719729739749759769779789799809819829839849859869879889899909919929939949959969979989991000100110021003100410051006100710081009101010111012101310141015101610171018101910201021102210231024102510261027102810291030103110321033103410351036103710381039104010411042104310441045104610471048104910501051105210531054105510561057105810591060106110621063106410651066106710681069107010711072107310741075107610771078107910801081108210831084108510861087108810891090109110921093109410951096109710981099110011011102110311041105110611071108110911101111111211131114111511161117111811191120112111221123112411251126112711281129113011311132113311341135113611371138113911401141114211431144114511461147114811491150115111521153115411551156115711581159116011611162