string(13) "markets-macro"

Macro

October 20, 2017

Communist Party cells in businesses are becoming more active

Xi Jinping wants to increase the Party’s presence throughout society, including in businesses. In his speech Wednesday, he said: “We will work to ensure that…Party organizations in enterprises…play a key role in… carrying out the Party’s decisions.” Many businesses already have Party groups (… Username Password Remember Me Forgot Password

Xi Jinping wants to increase the Party’s presence throughout society, including in businesses. In his speech Wednesday, he said:

“We will work to ensure that…Party organizations in enterprises…play a key role in… carrying out the Party’s decisions.”

Many businesses already have Party groups (...

sources

Bloomberg: How to Succeed in China? Communist Party Groups in Your Company

CPC People: 加强党建工作和全面从严治党”记者招待会

October 20, 2017

The central bank’s counter-party mentality

Before he retires, Zhou is getting some things off his chest. He spoke yesterday about the need to be proactive in preventing China’s “Minsky Moment” (Bloomberg): “When there are too many pro-cyclical factors in an economy, cyclical fluctuations will be amplified. If we’re…

Before he retires, Zhou is getting some things off his chest.
He spoke yesterday about the need to be proactive in preventing China’s “Minsky Moment” (Bloomberg):

“When there are too many pro-cyclical factors in an economy, cyclical fluctuations will be amplified.
If we’re...

sources

Bloomberg: Zhou Warns China Should Defend Against Threat of ‘Minsky Moment

PBoC: 人民银行行长周小川在党的十九大中央金融系统代表团开放日上回答记者提问

October 20, 2017

New PBoC governor coming soon

Speaking of governor Zhou…he is going to retire “soon” (Reuters): “When asked whether he would retire this year or next, Zhou said: ‘Either way it’ll be soon.’” But he’s not saying who his replacement will be (SCMP): “China’s central bank governor Zhou Xiaochuan turned the tables on reporte…

Speaking of governor Zhou…he is going to retire “soon” (Reuters):

“When asked whether he would retire this year or next, Zhou said: ‘Either way it’ll be soon.’”

But he’s not saying who his replacement will be (SCMP):

“China’s central bank governor Zhou Xiaochuan turned the tables on reporte...

sources

Reuters: China central bank warns against ‘Minsky Moment’ due to excessive optimism

SCMP: Who’ll be the next boss of China’s central bank? That’s just what the governor wants to know

October 20, 2017

Guo pushes to further open the banking sector

Guo also pushed for more opening in the banking sector (Caixin and Bloomberg): “Opening up and reforming the banking sector is one of the fundamental measures to prevent risks.” “The market share of foreign banks in China is falling, which isn’t good for competition.” “The country will give oversea…

Guo also pushed for more opening in the banking sector (Caixin and Bloomberg):

“Opening up and reforming the banking sector is one of the fundamental measures to prevent risks.”
“The market share of foreign banks in China is falling, which isn’t good for competition.”
“The country will give oversea...

sources

Caixin: 郭树清：全球最大的银行体系迎来强监管

Bloomberg: China’s Top Bank Regulator Endorses Reform of Finance Industry

October 20, 2017

Financial supervision will only get tighter

That’s the message from Guo Shuqing, head of the banking regulator (CBRC). At a press conference Thursday, he outlined the regulator’s strategy to de-risk the banking sector: “We identified interbank business, WMPs and off-balance sheet asset as the key areas for this year.” Guo explai…

That’s the message from Guo Shuqing, head of the banking regulator (CBRC).
At a press conference Thursday, he outlined the regulator’s strategy to de-risk the banking sector:

“We identified interbank business, WMPs and off-balance sheet asset as the key areas for this year.”

Guo explai...

sources

CBRC: 银监会主席郭树清在党的十九大中央金融系统代表团开放日上回答记者提问

October 19, 2017

China’s Central SOEs are getting bigger

Here’s what Xi had to say about SOEs yesterday: “We will support state capital in becoming stronger, doing better and getting bigger”. Get smart: That’s the same strategy that Xi has pushed in his first term. Xiao Yaqing, head of the central SOE administrator (SASAC), says the strategy …

Here’s what Xi had to say about SOEs yesterday:

“We will support state capital in becoming stronger, doing better and getting bigger”.

Get smart: That’s the same strategy that Xi has pushed in his first term.
Xiao Yaqing, head of the central SOE administrator (SASAC), says the strategy ...

sources

Caijing: 国资委党委书记：央企资产总额五年将近翻了一番

China News: 国资委：目前央企负债率稳健适中债务风险完全可控

October 19, 2017

Business gets on board Xi’s train

Businesses have been quick to show support for Xi Jinping’s Party congress report, promising to play their role in supporting Xi’s vision (Beijing News): Liu Chuanzhi, Chairman of Lenovo Holding Group:“[Lenovo’s] investment will play a key role in developing real economy … [and] fostering more Chin…

Businesses have been quick to show support for Xi Jinping’s Party congress report, promising to play their role in supporting Xi’s vision (Beijing News):

Liu Chuanzhi, Chairman of Lenovo Holding Group:“[Lenovo’s] investment will play a key role in developing real economy … [and] fostering more Chin...

sources

The Beijing News: 柳传志王健林等企业家点赞十九大报告

October 19, 2017

September property data quick take

Property investment came in solid in September. Capital expenditures in the sector grew by 9.2% y/y – up from 7.8% y/y in August and the 7% average over the previous four months. But despite the strong activity last month, forward looking indicators slumped. New housing starts grew by only 1.4%…

Property investment came in solid in September. Capital expenditures in the sector grew by 9.2% y/y – up from 7.8% y/y in August and the 7% average over the previous four months.
But despite the strong activity last month, forward looking indicators slumped. New housing starts grew by only 1.4%...

sources

NBS: National Economy Sustained the Momentum of Stable and Sound Development in the First Three Quarters of 2017

October 19, 2017

China’s Q3 GDP data: the number to know

Real GDP growth came bang in-line with market expectation of 6.8% y/y when it was released this morning – that was down a scooch from 6.9% in Q2. But as we’ve been pointing out this week, the number that matters more is nominal GDP growth, which came in at 11.2% y/y – up a scooch fro…

Real GDP growth came bang in-line with market expectation of 6.8% y/y when it was released this morning – that was down a scooch from 6.9% in Q2.
But as we’ve been pointing out this week, the number that matters more is nominal GDP growth, which came in at 11.2% y/y – up a scooch fro...

sources

FT: China’s economy grows 6.8% in third quarter

Reuters: China’s Leaders Make Peace with its Old Economy

October 19, 2017

Economic policy is all about supply-side reforms

We’ve been digging into Xi Jinping’s report to the Party congress all day to divine any clues for economic policy in the come five years, and the 2020-2035 timeframe. Despite the mind-numbing length of the speech, there are a brunch of pretty clear signals in there. One nugget that caught our e…

We’ve been digging into Xi Jinping’s report to the Party congress all day to divine any clues for economic policy in the come five years, and the 2020-2035 timeframe.
Despite the mind-numbing length of the speech, there are a brunch of pretty clear signals in there.
One nugget that caught our e...

sources

Xinhua: 习近平指出，中国特色社会主义进入新时代是我国发展新的历史方位

October 19, 2017

Say my name: Xi Jinping’s comrades support his authority

Many China watchers were disappointed yesterday. They had predicted that Xi Jinping’s leadership status would be elevated to an almost Mao-like level at this year’s Party congress. That would happen if Xi gets his name attached to a governing concept in the Party c…

Many China watchers were disappointed yesterday.
They had predicted that Xi Jinping’s leadership status would be elevated to an almost Mao-like level at this year’s Party congress. That would happen if Xi gets his name attached to a governing concept in the Party c...

sources

Xinhua: 张德江参加十九大内蒙古代表团讨论

Xinhua: 俞正声参加新疆代表团讨论时强调广泛凝聚智慧和力量夺取新时代中国特色社会主义伟大胜利

Xinhua: 刘云山：深刻把握新时代新使命新征程新理论自觉用党的十九大精神统一思想和行动

October 18, 2017

WeChat does its part for a stable congress

The congress is disrupting business and everyday life in the capital. We were in Beijing for the last Party congress – this is nothing new. But as of last night in China, things shifted to a new gear (Gizmodo): “Now, popular Chinese social media app WeChat has begun restricting how i…

The congress is disrupting business and everyday life in the capital. We were in Beijing for the last Party congress – this is nothing new.
But as of last night in China, things shifted to a new gear (Gizmodo):

“Now, popular Chinese social media app WeChat has begun restricting how i...

sources

Gizmodo: China Blocks WeChat Features Ahead of 19th National Congress

Pages: 1234567891011121314151617181920212223242526272829303132333435363738394041424344454647484950515253545556575859606162636465666768697071727374757677787980818283848586878889909192939495969798991001011021031041051061071081091101111121131141151161171181191201211221231241251261271281291301311321331341351361371381391401411421431441451461471481491501511521531541551561571581591601611621631641651661671681691701711721731741751761771781791801811821831841851861871881891901911921931941951961971981992002012022032042052062072082092102112122132142152162172182192202212222232242252262272282292302312322332342352362372382392402412422432442452462472482492502512522532542552562572582592602612622632642652662672682692702712722732742752762772782792802812822832842852862872882892902912922932942952962972982993003013023033043053063073083093103113123133143153163173183193203213223233243253263273283293303313323333343353363373383393403413423433443453463473483493503513523533543553563573583593603613623633643653663673683693703713723733743753763773783793803813823833843853863873883893903913923933943953963973983994004014024034044054064074084094104114124134144154164174184194204214224234244254264274284294304314324334344354364374384394404414424434444454464474484494504514524534544554564574584594604614624634644654664674684694704714724734744754764774784794804814824834844854864874884894904914924934944954964974984995005015025035045055065075085095105115125135145155165175185195205215225235245255265275285295305315325335345355365375385395405415425435445455465475485495505515525535545555565575585595605615625635645655665675685695705715725735745755765775785795805815825835845855865875885895905915925935945955965975985996006016026036046056066076086096106116126136146156166176186196206216226236246256266276286296306316326336346356366376386396406416426436446456466476486496506516526536546556566576586596606616626636646656666676686696706716726736746756766776786796806816826836846856866876886896906916926936946956966976986997007017027037047057067077087097107117127137147157167177187197207217227237247257267277287297307317327337347357367377387397407417427437447457467477487497507517527537547557567577587597607617627637647657667677687697707717727737747757767777787797807817827837847857867877887897907917927937947957967977987998008018028038048058068078088098108118128138148158168178188198208218228238248258268278288298308318328338348358368378388398408418428438448458468478488498508518528538548558568578588598608618628638648658668678688698708718728738748758768778788798808818828838848858868878888898908918928938948958968978988999009019029039049059069079089099109119129139149159169179189199209219229239249259269279289299309319329339349359369379389399409419429439449459469479489499509519529539549559569579589599609619629639649659669679689699709719729739749759769779789799809819829839849859869879889899909919929939949959969979989991000100110021003100410051006100710081009101010111012101310141015101610171018101910201021102210231024102510261027102810291030103110321033103410351036103710381039104010411042104310441045104610471048104910501051105210531054105510561057105810591060106110621063106410651066106710681069107010711072107310741075107610771078107910801081108210831084108510861087108810891090109110921093109410951096109710981099110011011102110311041105110611071108110911101111111211131114111511161117111811191120112111221123112411251126112711281129113011311132113311341135113611371138113911401141114211431144114511461147114811491150115111521153115411551156115711581159116011611162