string(13) "markets-macro"

Macro

January 15, 2018

CBRC intensifies regualory crackdown

The banking regulator (CBRC) is at it again. On Saturday, it released a massive document aimed at “brining financial chaos under control.” Those words are literally in the title of the document, which lays out a wide-ranging plan to increase inspections, fines, and other penalties at finan… Username Password Remember Me Forgot Password

The banking regulator (CBRC) is at it again. On Saturday, it released a massive document aimed at “brining financial chaos under control.”
Those words are literally in the title of the document, which lays out a wide-ranging plan to increase inspections, fines, and other penalties at finan...

sources

CBRC: 中国银监会关于进一步深化整治银行业市场乱象的通知

CBRC: 银监会有关部门负责人就进一步深化整治银行业市场乱象答记者问

January 12, 2018

China and Cambodia snuggle up even further

While Premier Li Keqiang was in Cambodia for the Lancang-Mekong Cooperation meeting (see yesterday’s Tip Sheet), he also held talks with Cambodian Prime Minister Hun Sen. Reuters has a rundown of the outcomes: “Cambodia and China signed 19 aid and investment pacts” “The Overseas Cambodia Inves…

“Cambodia and China signed 19 aid and investment pacts”
“The Overseas Cambodia Inves...

sources

Gov.cn: 李克强同柬埔寨首相洪森举行会谈

Gov.cn: China, Cambodia pledge to promote pragmatic cooperation

Reuters: China signs new aid agreements with Cambodia

Straits Times: China’s Li courts Cambodia with new deals

January 12, 2018

Xi and Moon talk talks

Xi Jinping spoke with South Korean President Moon Jae-in on Thursday. Moon called Xi to brief him on talks held Tuesday between North and South Korea. Xi was positive on the outcome (Xinhua): “Currently, challenges and opportunities co-exist on the Korean Peninsula.” “China supports the two si…

Xi Jinping spoke with South Korean President Moon Jae-in on Thursday.
Moon called Xi to brief him on talks held Tuesday between North and South Korea.
Xi was positive on the outcome (Xinhua):

“Currently, challenges and opportunities co-exist on the Korean Peninsula.”
“China supports the two si...

sources

CPC People: 习近平应约同韩国总统文在寅通电话

Xinhua: China supports DPRK, S.Korea in promoting inter-Korean dialogue, exchanges – Xi

Reuters: China’s Xi supports progress in inter-Korean talks: South Korea’s Blue House

January 12, 2018

MNCs in China – do yourself a favor and double check your website

Marriott International’s China website and smart phone app have been shut down for a week by the Shanghai Cyberspace Administration. What exactly happened? (Reuters): “[The hotel chain listed] Chinese-claimed regions such as Tibet and Taiwan as separate countries in a customer…

Marriott International’s China website and smart phone app have been shut down for a week by the Shanghai Cyberspace Administration.
What exactly happened? (Reuters):

“[The hotel chain listed] Chinese-claimed regions such as Tibet and Taiwan as separate countries in a customer...

sources

Reuters: Shanghai temporarily closes Marriott website in China after questionnaire gaffe

NYT: Marriott to China: We Do Not Support Separatists

CCTV: 万豪国际酒店被立案调查上海黄浦市场监管局约谈万豪酒店

Huanqiu: 下一个万豪?网友举报，达美航空列西藏是“国家” ZARA列台湾为“国家”

The Paper: 上海网信办责令ZARA、美敦力整改：更正涉台错误信息

CAAC: 民航局约谈达美航空相关负责人：要求其立即整改、公开道歉

January 12, 2018

IS RMB internationalization still happening?

China’s currency has started off the year hot. That has some folks focused on when the party might end, as well as the roadblocks to RMB internationalization. The SCMP sums up some of the discussion: “The US president’s economic policies including major tax reforms and interest rate rises… are…

“The US president’s economic policies including major tax reforms and interest rate rises… are...

sources

SCMP: Trump’s policies make a fully convertible yuan by 2020 impossible, say financial experts

21st Century Biz: 人民币国际化再提速面临新挑战央行多管齐下破解离岸人民币头寸“缺口”

January 12, 2018

Entrusted loans still under the microsope

If you were wondering which part of the banking system would be under the microscope in 2018, the early answer is “entrusted loans.” What are those you might ask? Basically, loans from one company to another that are underwritten (or entrusted) by a bank as intermediary. Already this year, the …

If you were wondering which part of the banking system would be under the microscope in 2018, the early answer is “entrusted loans.”
What are those you might ask? Basically, loans from one company to another that are underwritten (or entrusted) by a bank as intermediary.
Already this year, the ...

sources

Caixin: China Further Tightens Screws on Entrusted Loans

January 12, 2018

Will 2018 be the year of local SOE reform?

The SOE supervisor (SASAC) is stepping up its game when it comes to overseeing local state-owned assets. In the first two weeks of 2018, SASAC inspection teams have been out in full force, scrutinizing the progress of SOE reform at the local level – in Hebei and Anhui, in particular. …

The SOE supervisor (SASAC) is stepping up its game when it comes to overseeing local state-owned assets.
In the first two weeks of 2018, SASAC inspection teams have been out in full force, scrutinizing the progress of SOE reform at the local level – in Hebei and Anhui, in particular.
...

sources

Shanghai Securities News: 国务院督查地方国企改革加速和突破料成今年重点

China Securities Journal: 地方国企改革谋绘“施工图”

January 12, 2018

Xi demands continued loyalty

Xi Jinping has done a lot to reinvigorate the Party over the past five years. But judging from his statements, he is far from satisfied. On Thursday, he addressed a plenary session of the Party’s discipline commission (CCDI), and demanded continued efforts to “improve the political ecosystem of the …

Xi Jinping has done a lot to reinvigorate the Party over the past five years. But judging from his statements, he is far from satisfied.
On Thursday, he addressed a plenary session of the Party’s discipline commission (CCDI), and demanded continued efforts to “improve the political ecosystem of the ...

sources

CPC People: 习近平：以永远在路上的执着把从严治党引向深入

Xinhua: Xi calls for fundamental improvement of CPC political ecosystem

January 11, 2018

Private business woes

It’s not easy to be a private business in China. Red tape and arbitrary fees are par for the course. Nearly three years ago, Wu Hai, owner of the Orange Hotel chain, complained publicly about the poor business environment. His comments generated such attention that Premier Li invited him t…

It’s not easy to be a private business in China. Red tape and arbitrary fees are par for the course.
Nearly three years ago, Wu Hai, owner of the Orange Hotel chain, complained publicly about the poor business environment. His comments generated such attention that Premier Li invited him t...

sources

Economic Observer: 吴海独家回应经济观察报：两年前总理批示的问题没得到实质性解决

SCMP: Gadfly entrepreneur fires salvo against China’s red tape, after earlier complaint got him a trip to premier’s office

January 11, 2018

China’s standards ambition

China’s policymakers divide companies into three tiers: Third-tier companies make products. Second-tier companies make brands. First-tier companies make standards. That’s why the government has an ambitious program to set standards across several industries: A standardization administration…

China’s policymakers divide companies into three tiers:

Third-tier companies make products.
Second-tier companies make brands.
First-tier companies make standards.

That’s why the government has an ambitious program to set standards across several industries:

A standardization administration...

sources

Xinhua: 国家标准委：正制定《中国标准2035》

January 11, 2018

The coming water wars

Li Keqiang is in Phnom Penh, Cambodia for the second meeting of the Lancang-Mekong Cooperation (LMC) leaders’ meeting. A little about the LMC (Xinhua): “Initiated by China in 2014, the LMC consists of six countries — China, Cambodia, Myanmar, Laos, Thailand and Vietnam.” “It focuses…

Li Keqiang is in Phnom Penh, Cambodia for the second meeting of the Lancang-Mekong Cooperation (LMC) leaders’ meeting.
A little about the LMC (Xinhua):

“Initiated by China in 2014, the LMC consists of six countries — China, Cambodia, Myanmar, Laos, Thailand and Vietnam.”
“It focuses...

sources

CPC People: 李克强抵达金边出席澜沧江－湄公河合作第二次领导人会议并对柬埔寨进行正式访问

Xinhua: Chinese premier arrives in Cambodia for second LMC leaders’ meeting, official visit

SCMP: Five things to know about the Lancang-Mekong Cooperation summit

January 11, 2018

Macron tells Xi to put his money where his mouth is

Ever since his Davos speech a year ago, Xi Jinping has been positioning China as the global champion on free trade. Xi continued to cheerlead for free trade in his meeting with French president Emmanuel Macron Tuesday (gov.cn): “Both sides together… must build an open global economy, and …

Ever since his Davos speech a year ago, Xi Jinping has been positioning China as the global champion on free trade.
Xi continued to cheerlead for free trade in his meeting with French president Emmanuel Macron Tuesday (gov.cn):

“Both sides together… must build an open global economy, and ...

sources

Gov.cn: 习近平同法国总统马克龙举行会谈

Xinhua: China, France agree to inject new impetus into ties

Bloomberg: France Tightens Controls on Chinese Investment to Protect Tech

France 24: Open markets, Macron tells China, or risk protectionist backlash

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