string(13) "markets-macro"

Macro

October 16, 2017

Not a fun Party

The 2,287 congress delegates are arriving in Beijing (Xinhua): “The first delegation to arrive from outside the capital was from Inner Mongolia Autonomous Region. The delegates landed at Beijing Capital International Airport on Sunday morning.” Unfortunately for those arriving, being a … Username Password Remember Me Forgot Password

The 2,287 congress delegates are arriving in Beijing (Xinhua):

“The first delegation to arrive from outside the capital was from Inner Mongolia Autonomous Region. The delegates landed at Beijing Capital International Airport on Sunday morning.”

Unfortunately for those arriving, being a ...

sources

Xinhua: Delegates to CPC national congress start to arrive in Beijing

October 16, 2017

Pumping growth through prices

China’s price data for September come out on Monday morning. Consumer prices (CPI) grew by 1.6% y/y – down a touch from 1.8% y/y in August. Producer prices (PPI) grew by 6.9% y/y – up from 6.3% y/y in August. On the consumer side, prices largely retr…

China’s price data for September come out on Monday morning.

Consumer prices (CPI) grew by 1.6% y/y – down a touch from 1.8% y/y in August.
Producer prices (PPI) grew by 6.9% y/y – up from 6.3% y/y in August.

On the consumer side, prices largely retr...

sources

CNBC: China’s producer price index crushes expectations

October 16, 2017

Credit data is getting boring

While you were enjoying your weekend, China’s number crunchers were keeping at it. The PBoC released September credit data on Saturday. Headline financing (a.k.a. Aggregate Financing to the Real Economy) grew by 13% y/y – down from 13.1% in August. The 10-basis-point change&nbs…

While you were enjoying your weekend, China’s number crunchers were keeping at it. The PBoC released September credit data on Saturday.
Headline financing (a.k.a. Aggregate Financing to the Real Economy) grew by 13% y/y – down from 13.1% in August.
The 10-basis-point change&nbs...

sources

PBoC: 2017年9月末社会融资规模存量统计数据报告

October 16, 2017

PBoC governor: The deleveraging process has begun

PBoC Governor Zhou Xiaochuan was in DC for the annual gatherings of the IMF and World Bank this weekend. He spoke about deleveraging: “China has begun the deleveraging process…the overall leverage ratio is dropping.” “One reason [corporate debt levels are so high] is that local governmen…

PBoC Governor Zhou Xiaochuan was in DC for the annual gatherings of the IMF and World Bank this weekend. He spoke about deleveraging:

“China has begun the deleveraging process…the overall leverage ratio is dropping.”
“One reason [corporate debt levels are so high] is that local governmen...

sources

PBoC: 中国经济前景：多方合力推动增长——周小川行长在2017年G30国际银行业研讨会上的演讲及问答

October 16, 2017

Xi cleans house – again

At the Plenum, the Central Committee expelled 12 members, including former Chongqing Party Secretary Sun Zhengcai and former Minister of Justice Wu Aiying. That makes 35 Central Committee full or alternate members who have been expelled in Xi Jinping’s first term – nearly 10% of all member…

At the Plenum, the Central Committee expelled 12 members, including former Chongqing Party Secretary Sun Zhengcai and former Minister of Justice Wu Aiying.
That makes 35 Central Committee full or alternate members who have been expelled in Xi Jinping’s first term – nearly 10% of all member...

sources

Caixin: 12 Senior Officials Expelled From Communist Party

Caixin: 大会前“打虎”去“库存” 吴爱英何挺受处分

Caixin: Communist Party Expels Former Justice Minister

People.cn: 中国共产党第十八届中央委员会第七次全体会议公报

October 16, 2017

Party finishes Congress preparations

The 7th Plenum concluded Saturday. Here’s what happened (Xinhua): “A report to be made by the 18th CPC Central Committee to the 19th CPC National Congress, a work report of the CPC Central Commission for Discipline Inspection (CCDI) to the congress, as well as an amendment to the CPC Constitut…

The 7th Plenum concluded Saturday.
Here’s what happened (Xinhua):

“A report to be made by the 18th CPC Central Committee to the 19th CPC National Congress, a work report of the CPC Central Commission for Discipline Inspection (CCDI) to the congress, as well as an amendment to the CPC Constitut...

sources

Xinhua: CPC Central Committee plenum makes full preparation for key congress

People.cn: 中国共产党第十八届中央委员会第七次全体会议公报

People.cn: 中共十八届七中全会在京举行

October 13, 2017

New point man for Taiwan

Liu Jieyi has been appointed deputy head of the Taiwan Affairs Office (TAO). Get smart: Liu looks certain to take over the TAO. The current TAO head, Zhang Zhijun is near retirement age and is not a delegate to the 19th Party Congress – a sure sign that he is set to step down. A little abo…

Liu Jieyi has been appointed deputy head of the Taiwan Affairs Office (TAO).
Get smart: Liu looks certain to take over the TAO. The current TAO head, Zhang Zhijun is near retirement age and is not a delegate to the 19th Party Congress – a sure sign that he is set to step down.
A little abo...

sources

People.cn: 刘结一任中共中央台办、国务院台办副主任(正部长级)

October 13, 2017

Local governments prep tighter financial supervision

Here’s a new trend to keep an eye on. Local governments are upgrading financial regulatory units. The goal? More comprehensive oversight of the financial sector. That was one of Xi Jinping’s requirements laid out at the National Financial Work Conference earlier this year. Some examp…

Here’s a new trend to keep an eye on. Local governments are upgrading financial regulatory units.
The goal? More comprehensive oversight of the financial sector. That was one of Xi Jinping’s requirements laid out at the National Financial Work Conference earlier this year.
Some examp...

sources

The Paper: 地方金融办升级：加挂金融监管局牌子，强化属地风险处置责任

21st Century Biz: 地方金融办变“局”进行时

CE Weekly: 江苏两办发文省政府金融工作办公室变身“省地方金融监督管理局”

October 13, 2017

MofCOM takes silence on IPR as complacency

The US administration held hearings this week to discuss various Chinese trade and investment practices, including forced technology transfer. The US business community has mixed feelings about the whole thing. As the Wall Street Journal puts it, companies both cheer and fear th…

The US administration held hearings this week to discuss various Chinese trade and investment practices, including forced technology transfer.
The US business community has mixed feelings about the whole thing. As the Wall Street Journal puts it, companies both cheer and fear th...

sources

WSJ: U.S. Firms Cheer—and Fear—Trump’s China Trade Probe

MofCom: 商务部召开例行新闻发布会（2017年10月12日）

October 13, 2017

FDI is still important to China

The Ministry of Commerce (MofCOM) has published the most recent FDI stats for 2016. The ministry is touting how well FDI management has worked under Xi Jinping’s leadershp. Recall that foreign companies account for only 3% of all businesses. But despite that: They are investing in China a…

The Ministry of Commerce (MofCOM) has published the most recent FDI stats for 2016.
The ministry is touting how well FDI management has worked under Xi Jinping’s leadershp.
Recall that foreign companies account for only 3% of all businesses. But despite that:

They are investing in China a...

sources

MofCom: 商务部召开例行新闻发布会（2017年10月12日）

October 13, 2017

Central SOE revenues are zooming

Tip Sheet readers are clicked in, so you all probably followed this on periscope. But if not, a quick reminder that China’s SOE administrator (SASAC) had its Q3 briefing yesterday. The key messages: Central SOEs saw very strong revenues last quarter They are working on their debt challen…

Central SOEs saw very strong revenues last quarter
They are working on their debt challen...

sources

China Daily: China’s central state firms report strong growth in first three quarters

SCIO: 国新办举行三季度央企经济运行情况发布会

October 13, 2017

Solid September export data

China’s September trade data came out this morning. Exports rose by 8.1% y/y – that’s up from 5.5% in August. Imports rose by 18.7% y/y – that’s up from 13.3% in August. Why it matters: Global trade growth remains strong, despite a weak blip on trade for China in August. That ha…

China’s September trade data came out this morning.
Exports rose by 8.1% y/y – that’s up from 5.5% in August.
Imports rose by 18.7% y/y – that’s up from 13.3% in August.
Why it matters: Global trade growth remains strong, despite a weak blip on trade for China in August. That ha...

sources

CNBC: China September exports up 8.1%, imports up 18.7% as trade with North Korea slides

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