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Macro

December 18, 2019

Sailing the seas depends on the Helmsman

On Monday, Xi Jinping was in Sanya to make sure everything was shipshape at the launch of China’s new aircraft carrier, the Shandong. Some context: The Shandong is China’s second commissioned aircraft carrier and the first to be manufactured domestically. More context: The launch… Username Password Remember Me Forgot Password

On Monday, Xi Jinping was in Sanya to make sure everything was shipshape at the launch of China’s new aircraft carrier, the Shandong.
Some context: The Shandong is China’s second commissioned aircraft carrier and the first to be manufactured domestically.
More context: The launch...

sources

Xinhua: 我国第一艘国产航空母舰交付海军习近平出席交接入列仪式

China Daily: New aircraft carrier enters service

NYT: China Commissions 2nd Aircraft Carrier, Challenging U.S. Dominance

SCMP: First made-in-China aircraft carrier, the Shandong, officially enters service

SCMP: 12 years behind bars for corrupt former boss of Chinese warship builder CSIC

December 18, 2019

State of divergence

Over the weekend, the Party’s most important theoretical journal, Qiushi, published an excerpt of a recent speech by Xi Jinping. Xi delivered the speech at a meeting of the Party’s Central Financial and Economic Affairs Committee in August. Xi outlined some key trends driving regional development …

Over the weekend, the Party’s most important theoretical journal, Qiushi, published an excerpt of a recent speech by Xi Jinping.

Xi delivered the speech at a meeting of the Party’s Central Financial and Economic Affairs Committee in August.

Xi outlined some key trends driving regional development ...

sources

Qiushi: 推动形成优势互补高质量发展的区域经济布局

December 18, 2019

State Council wants feedback

On Tuesday, the general office of the State Council issued some thrilling new guidelines outlining the plan to build a government service assessment system by the end of 2020. The government will (Gov.cn 1): “Establish a ‘good and bad evaluation’ system in which the performance of government servic…

“Establish a ‘good and bad evaluation’ system in which the performance of government servic...

sources

Gov.cn: 国务院办公厅印发《关于建立政务服务“好差评”制度提高政务服务水平的意见》

Gov.cn: Instructions to build government service assessment system

December 18, 2019

Shandong defaults in focus

The hits just keep on coming for defaults in China’s corporate bond market. The latest area of concern isn’t a specific company or industry, but a geography. Namely, Shandong province (Bloomberg): “Six privately owned companies in one of China’s wealthiest provinces have defaulted on their debt or …

“Six privately owned companies in one of China’s wealthiest provinces have defaulted on their debt or ...

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Bloomberg: Defaults in One of China’s Richest Provinces Spook Investors

Caixin: Creditors’ Woes Deepen as Gionee Liquidation Hits Another Snag

December 18, 2019

China’s pig problems go global

China’s pig problem is starting to have global ramifications – that are potentially set to last for years. That’s according to an excellent piece of reporting from the New York Times. Some context: Tip Sheet readersknow that a recent outbreak of African Swine Fever has decimated China’s pi…

China’s pig problem is starting to have global ramifications – that are potentially set to last for years.
That’s according to an excellent piece of reporting from the New York Times.
Some context: Tip Sheet readersknow that a recent outbreak of African Swine Fever has decimated China’s pi...

sources

NYT: China Responds Slowly, and a Pig Disease Becomes a Lethal Epidemic

December 17, 2019

Wang Yi touts China-EU cooperation

On Monday, Foreign Minister Wang Yi delivered a rousing speech at the European Policy Center in Brussels. His message: China is Europe’s friend! Here’s what Wang had to say (Gov.cn): “Anyone who is objective and rational will see that cooperation between China and the EU is far greater than co…

On Monday, Foreign Minister Wang Yi delivered a rousing speech at the European Policy Center in Brussels.
His message: China is Europe’s friend!
Here’s what Wang had to say (Gov.cn):

“Anyone who is objective and rational will see that cooperation between China and the EU is far greater than co...

sources

Gov.cn: 王毅：中欧是伙伴不是对手

CGTN: Wang Yi: China, EU to embrace better bilateral relations

Forbes: China Just Crossed A Dangerous New Line For Huawei: ‘There Will Be Consequences’

December 17, 2019

The sword of Lamocles

On Monday, Hong Kong Chief Executive Carrie Lam met with Xi Jinping in Beijing to deliver her annual work report. Quick take: Performance reviews can be nerve-wracking at the best of times. For Lam, this is distinctly not the best of times. Luckily, Xi had warm words (Xinhua): “In the face of …

On Monday, Hong Kong Chief Executive Carrie Lam met with Xi Jinping in Beijing to deliver her annual work report.
Quick take: Performance reviews can be nerve-wracking at the best of times. For Lam, this is distinctly not the best of times.
Luckily, Xi had warm words (Xinhua):

“In the face of ...

sources

Xinhua: Xi Focus: Xi meets with HKSAR chief executive

SCMP: Why was China’s domestic security chief Guo Shengkun at Carrie Lam’s meeting with Xi Jinping?

December 17, 2019

New Securities Law should improve IPO process

A revised version of the Securities Law is expected to be passed when the legislature meets next week (see previous entry). This update has been a long time in coming (Caixin): “It has taken China nearly five years to update the Securities Law, which has become outdated since it was first promulgat…

A revised version of the Securities Law is expected to be passed when the legislature meets next week (see previous entry).
This update has been a long time in coming (Caixin):

“It has taken China nearly five years to update the Securities Law, which has become outdated since it was first promulgat...

sources

Caixin: Securities Law Revisions Set for NPC Review Next Week

December 17, 2019

NPC Standing Committee to meet next week

Mark your calendars! Yesterday, the National People’s Congress Standing Committee (NPCSC) – China’s legislature – got into the Christmas spirit by deciding to hold its next bi-monthly session from December 23-28. Ten draft laws or revisions are up for review: Revision to the Securities Law Basic He…

Mark your calendars!
Yesterday, the National People’s Congress Standing Committee (NPCSC) – China’s legislature – got into the Christmas spirit by deciding to hold its next bi-monthly session from December 23-28.
Ten draft laws or revisions are up for review:

Revision to the Securities Law
Basic He...

sources

Xinhua: 栗战书主持召开十三届全国人大常委会第四十四次委员长会议

NPC Observer: NPCSC Session Watch: Civil Code, Securities Law, Yangtze River Protection, Taiwanese Investments Export Control (Updated)

December 17, 2019

The Anbang unwind marches on

Caixin has a juicy scoop that a Chengdu government-backed investment entity is set to take a stake in the Chengdu Rural Commercial Bank. Is your mind blown? Okay, okay. We’ll back up. This equity purchase matters less because of the buyer than the seller, which is none other than the defunct Anbang …

Caixin has a juicy scoop that a Chengdu government-backed investment entity is set to take a stake in the Chengdu Rural Commercial Bank.
Is your mind blown?
Okay, okay. We’ll back up.
This equity purchase matters less because of the buyer than the seller, which is none other than the defunct Anbang ...

sources

Caixin: Exclusive: Local Government Said to Take Stake in Anbang-Controlled Bank

Source:

December 16, 2019

State Council clarifies Foreign Investment Law

The State Council held its weekly meeting lastThursday. Top of the agenda: Approving draft implementingregulations for the new Foreign Investment Law (FIL), which comes into effect on January 1, 2020. Some context: The legislature passed the FIL in March, but the law was vague on many key point…

The State Council held its weekly meeting lastThursday.
Top of the agenda: Approving draft implementingregulations for the new Foreign Investment Law (FIL), which comes into effect on January 1, 2020.
Some context: The legislature passed the FIL in March, but the law was vague on many key point...

sources

Gov.cn: 李克强主持召开国务院常务会议通过《中华人民共和国外商投资法实施条例（草案）》等

Gov.cn: 李克强：以法治推进更高水平对外开放

Gov.cn: hina to further improve environment for foreign investment

December 16, 2019

Xi meets Micronesian president

On Friday, Xi Jinping held talks with the President of the Federated States of Micronesia (FSM) David Panuelo in Beijing. Another Taiwan ally in the Pacific jumping ship, you ask? Trick question! The FSM has had ties with the PRCfor 30 years. Like many leaders from the South Pacificthese days, …

On Friday, Xi Jinping held talks with the President of the Federated States of Micronesia (FSM) David Panuelo in Beijing.
Another Taiwan ally in the Pacific jumping ship, you ask?
Trick question! The FSM has had ties with the PRCfor 30 years.
Like many leaders from the South Pacificthese days, ...

sources

CPC People: 习近平同密克罗尼西亚联邦总统帕努埃洛会谈

Xinhua: Xi holds talks with Micronesian president

SCMP: Mike Pompeo’s visit to Micronesia highlights US anxiety about rising Chinese influence in Pacific

China Daily: Xi urges closer ties with Micronesia

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