string(13) "markets-macro"

Macro

December 12, 2017

Banks argue de-risking brings on new risk

A few weeks ago, China’s financial regulators issued a draft regulation meant to tame the RMB 100 trillion asset management sector. (See November 20 Tip Sheet) It touched a nerve at the big banks. In the past few days, two position papers that favor watering down the re… Username Password Remember Me Forgot Password

A few weeks ago, China’s financial regulators issued a draft regulation meant to tame the RMB 100 trillion asset management sector. (See November 20 Tip Sheet)
It touched a nerve at the big banks.
In the past few days, two position papers that favor watering down the re...

sources

Caixin: 中银协否认十银行上书银监会官员称考验监管能力

Caixin: China Banking Association Denies Calling for Less Regulation

EEO: 十家股份制银行反馈资管新规或诱发风险提出九大建议

Yicai: 资管新规延长过渡期？接近监管人士：一切未定，整治乱象坚定不移

December 11, 2017

Sino-Russian ties going strong

General Zhang Youxia – a Politburo member and vice chairman of the Central Military Commission – has been hanging out with Russian President Vladimir Putin in Moscow. The reason: Zhang is the new co-chair of the Russian-Chinese Intergovernmental Commission for Military Technical Cooperatio…

General Zhang Youxia – a Politburo member and vice chairman of the Central Military Commission – has been hanging out with Russian President Vladimir Putin in Moscow.
The reason: Zhang is the new co-chair of the Russian-Chinese Intergovernmental Commission for Military Technical Cooperatio...

sources

CPC People: 俄罗斯总统普京会见张又侠

Kremlin: Meeting with Vice Chairman of Chinese Communist Party Central Military Commission Zhang Youxia

December 11, 2017

Double-edged big data sword

Developing big data is not just about the economy. It’s also about empowering the government. Xi wants to use big data to improve “governance”: “[We] must establish mechanisms for using big data to assist in…targeted social governance.” And he wants to use information from companies to d…

Developing big data is not just about the economy. It’s also about empowering the government.
Xi wants to use big data to improve “governance”:

“[We] must establish mechanisms for using big data to assist in…targeted social governance.”

And he wants to use information from companies to d...

sources

CPC People: 习近平：实施国家大数据战略加快建设数字中国

Xinhua: China Focus: China must accelerate implementation of big data strategy: Xi

December 11, 2017

Building a big data-empowered economy

China is going all in on big data. Top officials see big data as one of several next-generation technologies that will be key to the economy going forward. That’s why Xi chaired a Politburo study session to discuss big data Friday (Xinhua): “We should target cutting-edge technology and mo…

China is going all in on big data.
Top officials see big data as one of several next-generation technologies that will be key to the economy going forward. That’s why Xi chaired a Politburo study session to discuss big data Friday (Xinhua):

“We should target cutting-edge technology and mo...

sources

CPC People: 习近平：实施国家大数据战略加快建设数字中国

Xinhua: China Focus: China must accelerate implementation of big data strategy: Xi

December 11, 2017

Xi’s new growth model

One of the most significant outcomes of the 19th Party Congress was the decision to change the “principal contradiction” facing the Party (see the October 18 Tip Sheet). A quick refresher: The Party’s main concern used to be economic growth. Now it is to give the people a “better lif…

One of the most significant outcomes of the 19th Party Congress was the decision to change the “principal contradiction” facing the Party (see the October 18 Tip Sheet).
A quick refresher: The Party’s main concern used to be economic growth. Now it is to give the people a “better lif...

sources

CPC People: 习近平主持中央政治局会议分析研究2018年经济工作

December 11, 2017

Mixed messages on inflation

China released its inflation stats for November on Saturday. Producer prices were up 5.8% y/y — compared to 6.9% in October. Consumer prices were up 1.7% y/y — compared to 1.9% in October. Get smart 1: The slowdown in upstream price growth suggests weak industrial deman…

China released its inflation stats for November on Saturday.

Producer prices were up 5.8% y/y — compared to 6.9% in October.
Consumer prices were up 1.7% y/y — compared to 1.9% in October.

Get smart 1: The slowdown in upstream price growth suggests weak industrial deman...

sources

Reuters: China’s Nov producer prices ease to 4-month low as pollution curbs bite

December 11, 2017

Financial proof is in the pudding

Need proof that the financial de-risking isn’t slowing down? Just ask Guangfa Bank if the heat is dying down (Caixin): “China’s banking regulator handed out its biggest financial penalty ever to China Guangfa Bank for fabricating guarantee documents on 1 billion yuan worth of bonds that went i…

Need proof that the financial de-risking isn’t slowing down?
Just ask Guangfa Bank if the heat is dying down (Caixin):

“China’s banking regulator handed out its biggest financial penalty ever to China Guangfa Bank for fabricating guarantee documents on 1 billion yuan worth of bonds that went i...

sources

Caixin: Regulator Slaps Biggest Fine Ever on Guangfa Bank

December 11, 2017

Deleveraging to pick up in 2018

De-risking in China’s financial sector is just getting started. That’s the message from Friday’s Politburo meeting, which met to lay out economic priorities for 2018. Xi Jinping identified “preventing and defusing major risks” in the financial sector as the first of three “tough…

De-risking in China’s financial sector is just getting started.
That’s the message from Friday’s Politburo meeting, which met to lay out economic priorities for 2018.
Xi Jinping identified “preventing and defusing major risks” in the financial sector as the first of three “tough...

sources

CPC People: 习近平主持中央政治局会议分析研究2018年经济工作

December 8, 2017

Government walks back on its coal replacement policy

As we’ve been highlighting, China’s having some heating problems (see the December 5 Tip Sheet). A quick refresher: Cities in northern China are short on supplies of natural gas – largely because of the government’s policy to reduce coal use. That means lots of people have …

As we’ve been highlighting, China’s having some heating problems (see the December 5 Tip Sheet).
A quick refresher: Cities in northern China are short on supplies of natural gas – largely because of the government’s policy to reduce coal use.
That means lots of people have ...

sources

Caixin: 环保部：确保群众温暖过冬可继续用燃煤取暖

MoF: 商务部召开例行新闻发布会（2017年12月7日）

December 8, 2017

Human rights are different in China

What are human rights? That’s the question that China is posing as it hosts the first South-South Human Rights Forum in Beijing. According to Xi Jinping, the definition depends on the context: “Human rights must and can only be promoted in light of specific national conditions and people’s nee…

What are human rights? That’s the question that China is posing as it hosts the first South-South Human Rights Forum in Beijing.
According to Xi Jinping, the definition depends on the context:

“Human rights must and can only be promoted in light of specific national conditions and people’s nee...

sources

People's Daily: 习近平致信祝贺首届“南南人权论坛”开幕强调：以合作促发展以发展促人权不断提高人权保障水平

Xinhua: Full text of Chinese President Xi Jinping’s congratulatory message to South-South Human Rights Forum

SCMP: China presents its take on human rights at global forum in Beijing

December 8, 2017

Making friends in South Asia

Xi Jinping hosted Maldives President Abdulla Yameen Abdul Gayoom in Beijing Thursday. The outcomes: The two countries signed a free trade agreement (FTA). The two countries signed a memorandum of understanding (MOU) to jointly promote One Belt, One Road. Some context: Xi has been keen to…

Xi Jinping hosted Maldives President Abdulla Yameen Abdul Gayoom in Beijing Thursday.
The outcomes:

The two countries signed a free trade agreement (FTA).
The two countries signed a memorandum of understanding (MOU) to jointly promote One Belt, One Road.

Some context: Xi has been keen to...

sources

People's Daily: 习近平同马尔代夫总统亚明举行会谈

SCMP: China and Maldives sign free trade, maritime deals

December 8, 2017

Know your regulator

China’s banking regulator (CBRC) has a new vice chairman, Zhou Liang. Who’s Zhou? Put simply, he’s Wang Qishan’s guy: Zhou was Wang’s secretary (mishu) when Wang was vice governor of Guangdong in the 1990s. Since then, he has followed Wang to every new post. Most recently, he was head of …

China’s banking regulator (CBRC) has a new vice chairman, Zhou Liang.
Who’s Zhou? Put simply, he’s Wang Qishan’s guy:

Zhou was Wang’s secretary (mishu) when Wang was vice governor of Guangdong in the 1990s.
Since then, he has followed Wang to every new post.
Most recently, he was head of ...

sources

CBRC: 中国银行业监督管理委员会副主席周亮

Caixin: 周亮到任银监会副主席

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