string(13) "markets-macro"

Macro

November 13, 2017

Migrant laborers vote with their feet

Demographics is destiny. The future of China’s economy and social policy will be determined by population flows. That’s why we took notice when China released the most recent China Migrant Population Development Report on Friday. A few takeaways: Fewer people worked and lived ou… Username Password Remember Me Forgot Password

Demographics is destiny. The future of China’s economy and social policy will be determined by population flows.
That’s why we took notice when China released the most recent China Migrant Population Development Report on Friday.
A few takeaways:

Fewer people worked and lived ou...

sources

China.com: 国家卫生计生委就《国家基层高血压防范指南》《全国血液安全》《中国流动人口发展报告2017》等举行发布会

Caixin: 2.45亿流动人口中跨省比例渐下降 “80后”“90后”成主力军

Xinmin: 《中国流动人口发展报告2017》：我国流动人口规模为2.45亿人总量连续两年下降

November 13, 2017

Xi sweet talks foreign companies

As we pointed out in Friday’s Tip Sheet, there has been increased focus among China’s regulators on attracting foreign investment. The reason? FDI growth has slowed significantly in the past couple of years. It was negative through August of this year, before ticking back into positive te…

As we pointed out in Friday’s Tip Sheet, there has been increased focus among China’s regulators on attracting foreign investment.
The reason? FDI growth has slowed significantly in the past couple of years. It was negative through August of this year, before ticking back into positive te...

sources

Bloomberg: China Gave Trump a Win on Trade and He Didn’t Even Know It

WSJ: China to Give Foreigners Greater Access to Its Financial Sector

November 13, 2017

China’s changing growth paradigm

One of the most significant outcomes of the 19th Party Congress was Xi Jinping’s message thatChina will pursue a more inclusive growth model. It’s all about quality over quantity. He explained more at APEC: “We will be guided by a new development philosophy” “[We will] transition from a phase …

“We will be guided by a new development philosophy”
“[We will] transition from a phase ...

sources

Xinhua: Full text of Chinese President Xi’s address at APEC CEO Summit

November 13, 2017

The new Davos man

As the US and much of Europe retreat into isolationism, Xi Jinping has become the biggest proponent of globalization and free trade – rhetorically, at least. He used the APEC meeting over the weekend to reiterate this view: “History has taught us that closed-door development will ge…

As the US and much of Europe retreat into isolationism, Xi Jinping has become the biggest proponent of globalization and free trade – rhetorically, at least.
He used the APEC meeting over the weekend to reiterate this view:

“History has taught us that closed-door development will ge...

sources

CNBC: China’s Xi preaches ‘openness’ and ‘cooperation’ after Trump comes out swinging

Xinhua: Full text of Xi’s remarks at Session I of APEC Economic Leaders’ Meeting

November 13, 2017

Credit concerns into year end

Banks in China are starting to worry. Many of them appear to have largely used up their loan quotas for the year, so they are starting to push off new lending until early 2018. That means credit growth may decelerate rapidly over the next eight weeks. What’s more, the exhaustio…

Banks in China are starting to worry.
Many of them appear to have largely used up their loan quotas for the year, so they are starting to push off new lending until early 2018.
That means credit growth may decelerate rapidly over the next eight weeks.
What’s more, the exhaustio...

sources

The Paper: 银行信贷额度告急导致贷款利率上行：优质国企也要上浮6%

Caixin: Lending Tightens in China

November 13, 2017

Move over Black Friday

China’s Singles Day (or Double Eleven) shopping bonanza took place over the weekend. It keeps smashing sales records (Caixin): “Sales of merchandise sold by Alibaba affiliated platforms hit $25.3 billion in 24 hours, a 40% surge from a year ago. JD.com, Alibaba’s major rival and the count…

China’s Singles Day (or Double Eleven) shopping bonanza took place over the weekend. It keeps smashing sales records (Caixin):

“Sales of merchandise sold by Alibaba affiliated platforms hit $25.3 billion in 24 hours, a 40% surge from a year ago. JD.com, Alibaba’s major rival and the count...

sources

Caixin: ‘Double 11’ Sales Day Is a Smash Hit

November 13, 2017

AI, China and the surveillance state

Start your week off right with a fascinating read from Dan Strumpf of the Wall Street Journal. Strumpf takes a look at one of the most interesting companies you’ve never heard of (WSJ): “Hikvision (pronounced “hike-vision”) was nurtured by Beijing to help keep watch on its 1.4 billion cit…

Start your week off right with a fascinating read from Dan Strumpf of the Wall Street Journal.
Strumpf takes a look at one of the most interesting companies you’ve never heard of (WSJ):

“Hikvision (pronounced “hike-vision”) was nurtured by Beijing to help keep watch on its 1.4 billion cit...

sources

WSJ: Surveillance Cameras Made by China Are Hanging All Over the U.S.

CNBC: Backing Big Brother: Investors are pouring into Chinese facial recognition firms

November 10, 2017

Socialist solidarity

Having handled the US President, Xi Jinping is now off to Vietnam for his first post-19th-Party-Congress visit abroad. After a couple of days in Hanoi for the APEC summit and a state visit, he is then off to Laos for another state visit. Why did Xi decide to make the first two official bil…

Having handled the US President, Xi Jinping is now off to Vietnam for his first post-19th-Party-Congress visit abroad. After a couple of days in Hanoi for the APEC summit and a state visit, he is then off to Laos for another state visit.
Why did Xi decide to make the first two official bil...

sources

People's Daily: 习近平在越南媒体发表署名文章开创中越友好新局面

CPC People: 习近平十九大闭幕后首次出访五大看点值得关注

November 10, 2017

China’s leaders look increasingly okay with slower growth

Li Keqiang met with economists and businessmen to discuss the economy on Thursday. The message: What a great year! (Gov.cn): “[Li] said the country’s economy is better than expected this year, which is an effective response to some opinions stating that it will suffer a ‘hard landing…

Li Keqiang met with economists and businessmen to discuss the economy on Thursday.
The message: What a great year! (Gov.cn):

“[Li] said the country’s economy is better than expected this year, which is an effective response to some opinions stating that it will suffer a ‘hard landing...

sources

Gov.cn: Premier: Keep momentum for better growth

CPC People: 李克强：保持稳中向好势头促进经济持续健康发展

Gov.cn: Premier Li seeks new ideas to lift the economy

November 10, 2017

Wang Yang waxes philosophic on FDI

Today’s announcement wasn’t just about financial institutions.There were some other substantive outcomes, including: A gradual lowering of customs duties on autos A pilot program to lift equity caps for certain auto production in Free Trade Zones, including electric vehicles Restoration of th…

Today’s announcement wasn’t just about financial institutions.There were some other substantive outcomes, including:

A gradual lowering of customs duties on autos
A pilot program to lift equity caps for certain auto production in Free Trade Zones, including electric vehicles
Restoration of th...

sources

People's Daily: 推动形成全面开放新格局

November 10, 2017

Xi Jinping has been entertaining Donald Trump for the past two days

The big question: Did anything substantive happen? From where we sit, the answer appears to be no – although today’s announcement on financial sector opening is notable (see next entry). The long view: What has been fascinating about this Trump visit is that, for the first time, the Chines…

The big question: Did anything substantive happen? From where we sit, the answer appears to be no – although today’s announcement on financial sector opening is notable (see next entry).
The long view: What has been fascinating about this Trump visit is that, for the first time, the Chines...

sources

NYT: In China, Trump Places His Bets on Flattering Xi Jinping

Xinhua: Xinhua Insight: Xi, Trump agree on leading role of head-of-state diplomacy in Sino-U.S. ties

People's Daily: 习近平同美国总统特朗普举行会谈

People's Daily: 习近平同美国总统特朗普共同会见记者

People's Daily: 中美元首共同出席中美企业家对话会闭幕式

November 10, 2017

A win for financial opening

Someone is listening to Zhou Xiaochuan. He’s been making the circuit lately calling for greater financial opening, and today the Ministry of Finance (MoF) delivered. MoF announced the following changes to rules governing foreign ownership of financial institutions: Equity caps for foreign owne…

Someone is listening to Zhou Xiaochuan. He’s been making the circuit lately calling for greater financial opening, and today the Ministry of Finance (MoF) delivered.
MoF announced the following changes to rules governing foreign ownership of financial institutions:

Equity caps for foreign owne...

sources

Bloomberg: China’s Big Bang Moment Opens Banks, Brokers to Foreign Control

SCIO: 国新办吹风会介绍中美元首会晤经济成果披露多项具体内容

Caixin: 金融业市场准入开放力度空前分步骤实现内外资一视同仁

People's Daily: 中美元首会晤达成多方面重要共识同意共同努力推动两国关系取得更大发展

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