string(13) "markets-macro"

Macro

January 23, 2018

Xi praises entrepreneurs

Xi thanked China’s entrepreneurs on Monday. In a letter to the National Congress of Self-Employed Individuals (yep – that’s a thing, look it up), Xi said (Xinhua): “China’s private sector has played an important role in bolstering economic growth, promoting innovation, creating jobs,… Username Password Remember Me Forgot Password

Xi thanked China’s entrepreneurs on Monday.
In a letter to the National Congress of Self-Employed Individuals (yep – that’s a thing, look it up), Xi said (Xinhua):

“China’s private sector has played an important role in bolstering economic growth, promoting innovation, creating jobs,...

sources

CPC People: 习近平：弘扬企业家精神发挥企业家作用坚守实体经济落实高质量发展

Gov.cn: Private sector significant to economic growth: Xi

January 22, 2018

Another bank gets whacked with a huge fine

The hits just keep on coming. China’s banking regulator handed out one of its stiffest penalties to date on Friday. The culprit? The Chengdu branch of Shanghai Pudong Development Bank (Caixin): “The China Banking Regulatory Commission’s bureau in Sichuan province delivered the 462 million yuan…

The hits just keep on coming.
China’s banking regulator handed out one of its stiffest penalties to date on Friday. The culprit? The Chengdu branch of Shanghai Pudong Development Bank (Caixin):

“The China Banking Regulatory Commission’s bureau in Sichuan province delivered the 462 million yuan...

sources

Caixin: Shanghai Pudong Development Bank Fined $72 Million for Illegal Loans

January 22, 2018

Mortgage lending eases off

Property restrictions are finally starting to bite. That’s according to the latest mortgage data from the central bank (Caixin): “As of the end of 2017, outstanding loans related to the country’s real estate industry amounted to RMB 32.2 trillion ($5.03 trillion), up 20.9% year-on-year, [and] …

Property restrictions are finally starting to bite. That’s according to the latest mortgage data from the central bank (Caixin):

“As of the end of 2017, outstanding loans related to the country’s real estate industry amounted to RMB 32.2 trillion ($5.03 trillion), up 20.9% year-on-year, [and] ...

sources

Caixin: Real Estate Loans Slow in 2017

PBoC: 2017 年四季度金融机构贷款投向统计报告

China Securities Journal: 2017年房地产贷款增速回落

January 22, 2018

Constitutional amendments reflect the Party’s growing role

On Friday, the 375 Central Committee members (including alternates) concluded their second full meeting (plenum) since the 19th Party Congress. The purpose of the meeting was to discuss and approve amendments tothe state constitution (not to be confused with the Party constitution, which w…

On Friday, the 375 Central Committee members (including alternates) concluded their second full meeting (plenum) since the 19th Party Congress.
The purpose of the meeting was to discuss and approve amendments tothe state constitution (not to be confused with the Party constitution, which w...

sources

CPC People: 中共十九届二中全会在京举行

January 17, 2018

AIIB enters its third year

Yesterday was the two-year anniversary of the founding of the Asian Infrastructure Investment Bank (AIIB). The bank’s president, Jin Liqun, gave an interview to recap the bank’s progress and preview its coming attractions. Over the past two years, AIIB has lent USD 4.2 billi…

Yesterday was the two-year anniversary of the founding of the Asian Infrastructure Investment Bank (AIIB). The bank’s president, Jin Liqun, gave an interview to recap the bank’s progress and preview its coming attractions.
Over the past two years, AIIB has lent USD 4.2 billi...

sources

21st Century Biz: 《21世纪经济报道》专访亚投行行长金立群：让亚投行成为一个真正意义上的国际机构是中国最大的成功

21st Century Biz: 亚投行这两年：重塑全球经济治理体系为新兴经济体代言

21st Century Biz: 义不容辞支持“一带一路”建设打造构建人类命运共同体新平台

January 17, 2018

Government listens to the people, and answers to the Party

The State Council has revised two important regulations: Provisions on Procedures for Formulating Administrative Regulations Provisions on Procedures for Formulating Rules and Regulations The main purpose of the revisions is to enhance the role of the Party when the government makes policy (g…

The State Council has revised two important regulations:

Provisions on Procedures for Formulating Administrative Regulations
Provisions on Procedures for Formulating Rules and Regulations

The main purpose of the revisions is to enhance the role of the Party when the government makes policy (g...

sources

Gov.cn: 李克强签署国务院令公布《国务院关于修改〈行政法规制定程序条例〉的决定》和《国务院关于修改〈规章制定程序条例〉的决定》

Gov.cn: 中华人民共和国国务院令第694号

Gov.cn: 中华人民共和国国务院令第695号

January 17, 2018

Internet sovereignty bites

It took us an hour and a half to break through the Great Firewall this morning. Apparently, we are not the only ones (FT): “An American non-profit group and a British company told the Financial Times their company-built VPNs had been blocked, disrupting their ability to do business.” “An emplo…

It took us an hour and a half to break through the Great Firewall this morning.
Apparently, we are not the only ones (FT):

“An American non-profit group and a British company told the Financial Times their company-built VPNs had been blocked, disrupting their ability to do business.”
“An emplo...

sources

FT: China disrupts global companies’ web access as censorship bites

January 17, 2018

Chinese automakers have global ambitions

Chinese carmakers have 2019 circled on the calendar. That’s the year when at least two companies plan to push into overseas markets. Geely, which owns the Swedish Brand Volvo, wants to make and sell vehicles in Europe under a new brand (Caixin): “The establishment of the Lynk and Co brand…

Chinese carmakers have 2019 circled on the calendar. That’s the year when at least two companies plan to push into overseas markets.
Geely, which owns the Swedish Brand Volvo, wants to make and sell vehicles in Europe under a new brand (Caixin):

“The establishment of the Lynk and Co brand...

sources

Caixin: Geely to Use Volvo’s Europe Plants to Manufacture New Car Brand

Axios: 1 big thing: The Detroit auto show

January 17, 2018

Can the center finally tame LGFVs?

When a local government financing vehicle misses a payment, we take notice. So we were watching a recent case in Yunnan with particular interest. It looked like it might have been the canary in the coal mine for LGFVs going under. But, as per usual, things came together in the end (Caixin)…

When a local government financing vehicle misses a payment, we take notice.
So we were watching a recent case in Yunnan with particular interest. It looked like it might have been the canary in the coal mine for LGFVs going under.
But, as per usual, things came together in the end (Caixin)...

sources

Caixin: Yunnan Capital Averts Trust Loan Default

January 17, 2018

Risk watch: interest rates are creeping up

Interest rates on loans are drifting upward. It’s happening as banks slowly pass on their higher cost of liquidity thanks to the increased regulatory scrutiny they face. So far, banks and business say the adjustment has been gradual – but they worry that rates could rise more qui…

Interest rates on loans are drifting upward. It’s happening as banks slowly pass on their higher cost of liquidity thanks to the increased regulatory scrutiny they face.
So far, banks and business say the adjustment has been gradual – but they worry that rates could rise more qui...

sources

21st Century Biz: 央行再上调公开市场利率 2018年资金越来越贵？

January 17, 2018

Trade tensions with the US heat up

A US-China trade war was the dog that didn’t bite in 2017. 2018 promises to be far more contentious. That’s obvious looking at the readouts from a conversation between Xi Jinping and US President Donald Trump. Trump is clearly unhappy (White House): “President Trump expressed disappointme…

A US-China trade war was the dog that didn’t bite in 2017.
2018 promises to be far more contentious. That’s obvious looking at the readouts from a conversation between Xi Jinping and US President Donald Trump.
Trump is clearly unhappy (White House):

“President Trump expressed disappointme...

sources

White House: Readout of President Donald J. Trump’s Call with President Xi Jinping of the People’s Republic of China

CPC People: 习近平应约同美国总统特朗普通电话

January 16, 2018

China builds world’s largest air purifier

You have to hand this to the Chinese government – they aren’t afraid to try to do BIG things. The latest oversized endeavor comes out of Xi’an. The local government has teamed with researchers to produce the worlds largest air purifier (SCMP): “An experimental tower over 100 metres high …

You have to hand this to the Chinese government – they aren’t afraid to try to do BIG things.
The latest oversized endeavor comes out of Xi’an. The local government has teamed with researchers to produce the worlds largest air purifier (SCMP):

“An experimental tower over 100 metres high ...

sources

SCMP: China builds ‘world’s biggest air purifier’ (and it seems to beworking)

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