string(13) "markets-macro"

Macro

December 5, 2019

Government scrapping affirmative action for minorities

The SCMP reports that the government is rolling back preferential education and tax policies for ethnic minorities. Some context: “[For years] Han Chinese have increasingly complained about what they see as unfair benefits and subsidies handed out to minorities.” An example of Han resentment: “Th… Username Password Remember Me Forgot Password

The SCMP reports that the government is rolling back preferential education and tax policies for ethnic minorities.
Some context:

“[For years] Han Chinese have increasingly complained about what they see as unfair benefits and subsidies handed out to minorities.”

An example of Han resentment:

“Th...

sources

SCMP: China’s ethnic groups face end to affirmative action in education, taxes, policing

December 5, 2019

Xinjiang officials increasingly unhappy

On Tuesday, the US House of Representatives passed the Uyghur Act, which calls for sanctions against Beijing for its policies in Xinjiang. The Chinese authorities did not like that. Vice Foreign Minister Qin Gang summoned the US deputy chief of mission in Beijing to give him an earful(Xinhua): “[Qi…

On Tuesday, the US House of Representatives passed the Uyghur Act, which calls for sanctions against Beijing for its policies in Xinjiang.
The Chinese authorities did not like that. Vice Foreign Minister Qin Gang summoned the US deputy chief of mission in Beijing to give him an earful(Xinhua):

“[Qi...

sources

Xinhua: China summons U.S. embassy official, protests against U.S. House approval of Xinjiang-related bill

SCMP: Wanted: Chinese cadres to hold Beijing’s line in Xinjiang as Han Chinese head for the exits amid international furore over Uygur internment camps

December 5, 2019

State Council tackles unemployment (again)

Yesterday, the State Council held its weekly executive meeting. Top of the agenda: Stabilizing employment. Officials agreed that while this year’s employment situation has been “generally stable,” dark clouds are gathering (Gov.cn): “At present, there are growing risks and challenges at home a…

Yesterday, the State Council held its weekly executive meeting.
Top of the agenda: Stabilizing employment.
Officials agreed that while this year’s employment situation has been “generally stable,” dark clouds are gathering (Gov.cn):

“At present, there are growing risks and challenges at home a...

sources

Gov.cn: 李克强主持召开国务院常务会议部署进一步多措并举做好稳就业工作等

December 5, 2019

404: Sympathy not found

Not long ago, Huawei was the darling of the Chinese internet. Fighting against crippling US sanctions, the national tech champion enjoyed vociferous support from China’s digital masses – who showed it through increased smart phone purchases. No longer. The story of Li Hongyuan, a former Huawei emplo…

Not long ago, Huawei was the darling of the Chinese internet.
Fighting against crippling US sanctions, the national tech champion enjoyed vociferous support from China’s digital masses – who showed it through increased smart phone purchases.
No longer.
The story of Li Hongyuan, a former Huawei emplo...

sources

Source: Reference News: 华为昨夜回应后，被羁押251天的前员工再发声：“我听全国人民的”

NYT: How Huawei Lost the Heart of the Chinese Public

Reuters: Huawei faces online storm in China over employee treatment

December 5, 2019

PMI readings are noise, not signal

Good news! China’s economy is finally out of the woods. At least that’s what you might be led to believe by the string of recent purchasing manager indices (PMIs) for November. The details: On Saturday, the official manufacturing PMI came in at 50.2 – up from 49.3 previously and marking the highest…

Good news! China’s economy is finally out of the woods.
At least that’s what you might be led to believe by the string of recent purchasing manager indices (PMIs) for November.
The details:

On Saturday, the official manufacturing PMI came in at 50.2 – up from 49.3 previously and marking the highest...

sources

Caixin: China Services Growth Surges: Caixin PMI

FT: Chinese manufacturing expands at fastest pace in three years

Reuters: China Nov factory activity unexpectedly returns to growth – official PMI

December 4, 2019

You can’t hurry Trump, no you just have to wait

After weeks of telling us that a “phase one” trade deal with China is just over the horizon, US President Donald Trump threw another wrench in the gears on Tuesday. Trump suggested the timeframe may still be a year out (Reuters): “I like the idea of waiting until after the election for the China de…

After weeks of telling us that a “phase one” trade deal with China is just over the horizon, US President Donald Trump threw another wrench in the gears on Tuesday.
Trump suggested the timeframe may still be a year out (Reuters):

“I like the idea of waiting until after the election for the China de...

sources

Reuters: Trump says China trade deal may have to wait amid sticking points in talks

CNN: Asian stocks suffer after Trump says China trade deal might have to wait

Washington Post: Trump says trade deal with China could wait until after 2020 election; Dow plunges 400 points

December 4, 2019

Party looks to take care of army vets

On Tuesday, the Central Military Commission released new guidelines to improve care for retired veterans. Some context: China has millions of veterans – and they have not been treated all that well in the past. That’s led to numerous high-profile protests throughout the country in recent years. Xinh…

On Tuesday, the Central Military Commission released new guidelines to improve care for retired veterans.
Some context: China has millions of veterans – and they have not been treated all that well in the past. That’s led to numerous high-profile protests throughout the country in recent years.
Xinh...

sources

CPC People: 中央军委印发《关于加强新时代军队离退休干部工作的意见》

Xinhua: China to improve service, support system for military retirees

December 4, 2019

El Salvador’s diplomatic switch pays off

On Tuesday, Xi Jinping met with El Salvador’s President Nayib Armando Bukele Ortez. Why that’s a big deal: El Salvador only established diplomatic relations with China in August 2018. Previously it recognized Taiwan. Xi was all smiles (Xinhua): “The establishment of diplomatic ties opens the d…

On Tuesday, Xi Jinping met with El Salvador’s President Nayib Armando Bukele Ortez.
Why that’s a big deal: El Salvador only established diplomatic relations with China in August 2018. Previously it recognized Taiwan.
Xi was all smiles (Xinhua):

“The establishment of diplomatic ties opens the d...

sources

Xinhua: Xi calls for efforts to advance China-El Salvador relations to higher level

Reuters: China signs on for ‘gigantic’ investment in El Salvador infrastructure

December 4, 2019

That shining Macau example

On Tuesday, National People’s Congress Chairman Li Zhanshu spoke at a symposium commemorating the 20th anniversary of the Basic Law of Macau. Li had nothing but praise for the city (NPC): “National identity has a broad and deep foundation in Macau society.” And for its leadership: “The chief…

On Tuesday, National People’s Congress Chairman Li Zhanshu spoke at a symposium commemorating the 20th anniversary of the Basic Law of Macau.
Li had nothing but praise for the city (NPC):

“National identity has a broad and deep foundation in Macau society.”

And for its leadership:

“The chief...

sources

NPC: 栗战书：坚定不移走“一国两制”成功道路确保宪法和澳门基本法全面准确有效实施

NPC: 纪念澳门特别行政区基本法实施20周年座谈会在京举行栗战书发表讲话

SCMP: Beijing’s signal to Hong Kong: learn from Macau, and it starts with having ‘patriots’ in charge

December 4, 2019

China looks to science to stabilizepork supply

Chinese officials’ efforts to contain soaring pork prices are starting to work – and Xinhua wants you to know about it: “From Nov. 25 to 29, the average pork price index in 16 provincial-level regions…came in at 40.95 yuan per kg, down 3.5 percent week on week.” “This is the third consecutive week …

Chinese officials’ efforts to contain soaring pork prices are starting to work – and Xinhua wants you to know about it:

“From Nov. 25 to 29, the average pork price index in 16 provincial-level regions…came in at 40.95 yuan per kg, down 3.5 percent week on week.”
“This is the third consecutive week ...

sources

ECNS: China’s pork prices continue to retreat

Bloomberg: China’s Mutant Pigs Could Help Save Nation From Pork Apocalypse

December 4, 2019

Bond defaults on the rise

Defaults in China’s corporate bond market have been on the rise for a while – but thingshave gone into a higher gear in recent weeks (Bloomberg): “At least 15 defaults since the start of November have pushed this year’s total to 120.4 billion yuan ($17.1 billion), within a hair’s breadth of the 121…

Defaults in China’s corporate bond market have been on the rise for a while – but thingshave gone into a higher gear in recent weeks (Bloomberg):

“At least 15 defaults since the start of November have pushed this year’s total to 120.4 billion yuan ($17.1 billion), within a hair’s breadth of the 121...

sources

Bloomberg: China’s $17 Billion Default Wave Is About to Break a Record

December 3, 2019

China strikes back over Hong Kong democracy bill

Last week, we notedthat Beijing is hopping mad over US President Donald Trump’s signingof the Hong Kong Human Rights and Democracy Act. Now, Beijing is really sticking it to the US by…sanctioning American NGOs? Foreign Ministry spokeswoman Hua Chunying promised unspecified sanctions against Freedom …

Last week, we notedthat Beijing is hopping mad over US President Donald Trump’s signingof the Hong Kong Human Rights and Democracy Act.
Now, Beijing is really sticking it to the US by…sanctioning American NGOs?
Foreign Ministry spokeswoman Hua Chunying promised unspecified sanctions against Freedom ...

sources

MoFA: 2019年12月2日外交部发言人华春莹主持例行记者会

SCMP: China hits back at democracy act by suspending US military port calls in Hong Kong

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