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Macro

October 11, 2017

Xi’s grip on discipline gets tighter

Monday’s plenary session of the discipline commission (CCDI) approved the CCDI’s work report for the 19th Party Congress. That’s normal. What’s not normal is the process for submission. In contrast to past practice, which saw the CCDI run the show, this year’s report was first submitted to… Username Password Remember Me Forgot Password

Monday’s plenary session of the discipline commission (CCDI) approved the CCDI’s work report for the 19th Party Congress.
That’s normal.
What’s not normal is the process for submission. In contrast to past practice, which saw the CCDI run the show, this year’s report was first submitted to...

sources

CCDI: 中央纪委向十九大工作报告审议程序发生重大变化

October 10, 2017

The public health revamp continues

The State Council got back to work on Monday, holding a meeting on public hospital reform. Here’s the short-hand version of reform goals for the various parties: Hospital revenues should increasingly be generated from services not drug markups Doctor pay should be linked to the quality of…

The State Council got back to work on Monday, holding a meeting on public hospital reform.
Here’s the short-hand version of reform goals for the various parties:

Hospital revenues should increasingly be generated from services not drug markups
Doctor pay should be linked to the quality of...

sources

Gov.cn: 李克强主持召开国务院常务会议听取公立医院综合改革和医疗联合体建设进展情况汇报等

Gov.cn: China to expand reform in public hospitals

October 10, 2017

Party rules published

Xi Jinping has sought to remake the Party in his first five years as general secretary. A big part of that process has been accomplished through revising or rewriting internal Party regulations. For cadres that can’t keep up, the CCP General Office has compiled CCP regulations and publishe…

Xi Jinping has sought to remake the Party in his first five years as general secretary. A big part of that process has been accomplished through revising or rewriting internal Party regulations.
For cadres that can’t keep up, the CCP General Office has compiled CCP regulations and publishe...

sources

Xinhua: Compilation of CPC rules published

October 10, 2017

Zhou Xiaochuan trumpets financial market opening…again

China’s long-serving central bank governor, Zhou Xiaochuan, is banging the financial opening drum as often and as loud as possible before he retires in the coming months. The latest iteration was in an interview with Caijing, meant to mark the one-year anniversary of China’s&nbs…

China’s long-serving central bank governor, Zhou Xiaochuan, is banging the financial opening drum as often and as loud as possible before he retires in the coming months.
The latest iteration was in an interview with Caijing, meant to mark the one-year anniversary of China’s&nbs...

sources

Caijing: 周小川谈人民币入篮SDR：对外开放进程的历史性进展

October 10, 2017

FX reserves and a currency window

China’s foreign exchange reserves inched up again in September, marking the eighth consecutive monthly increase. They rose by USD 17 billion, bringing the total to USD 3.109 trillion. Get smart: There is an increasing sense among policymakers and market participants in Chi…

China’s foreign exchange reserves inched up again in September, marking the eighth consecutive monthly increase.
They rose by USD 17 billion, bringing the total to USD 3.109 trillion.
Get smart: There is an increasing sense among policymakers and market participants in Chi...

sources

21st Century Biz: 企业结汇潮涌外汇储备八连涨

Reuters: China September forex reserves rise for eighth straight month in boost to President Xi

October 10, 2017

The property chill

In yesterday’s Tip Sheet, we pointed out the solid growth of consumption during the Golden Week holiday. But there was one thing consumers decidedly did not buy last week – homes. Property transactions fell off a cliff. That is especially notable because October is usually the hottest…

In yesterday’s Tip Sheet, we pointed out the solid growth of consumption during the Golden Week holiday.
But there was one thing consumers decidedly did not buy last week – homes.
Property transactions fell off a cliff. That is especially notable because October is usually the hottest...

sources

The Paper: 央媒：住房投机面临“釜底抽薪”，楼市“金九银十”恐难至

SCMP: Golden Week loses its shine for Chinese property market, as home sales slump

October 10, 2017

China’s economy is about to get a lot bigger

Get excited. China’s stats guys are changing the way they account for RandD spending in GDP calculations. Sound like a snooze fest? It kind of is, but it’s still hugely important. Some context: The NBS first started counting RandD spending last year. But there was a flaw in…

Get excited. China’s stats guys are changing the way they account for RandD spending in GDP calculations.
Sound like a snooze fest? It kind of is, but it’s still hugely important.
Some context: The NBS first started counting RandD spending last year. But there was a flaw in...

sources

21st Century Biz: 前三季度地区研发支出或将纳入GDP 各地GDP总量和增速将有所调整

October 10, 2017

Xi’s new red expert Party

We are now only eight days away from the opening of the 19th Party Congress. These quinquennial events are always a big deal, but the excitement surrounding this year’s congress is cranked up to eleven. One big reason: There will be a high degree of turnover, which means lots of personnel …

We are now only eight days away from the opening of the 19th Party Congress.
These quinquennial events are always a big deal, but the excitement surrounding this year’s congress is cranked up to eleven.
One big reason: There will be a high degree of turnover, which means lots of personnel ...

sources

BBC: China congress: Military facelift a sign of bigger changes

October 9, 2017

The Party goes fly swatting

Tigers get all the attention, but most of the CCDI’s efforts have been focused on swatting flies (Xinhua): “The Communist Party of China’s (CPC) top disciplinary watchdog said Sunday around 1.343 million grassroots-level Party officials around the country had been punished between the ti…

Tigers get all the attention, but most of the CCDI’s efforts have been focused on swatting flies (Xinhua):

“The Communist Party of China’s (CPC) top disciplinary watchdog said Sunday around 1.343 million grassroots-level Party officials around the country had been punished between the ti...

sources

Xinhua: CPC punishes 1.343 mln grassroots officials in 5 years: watchdog

October 9, 2017

The Party goes tiger hunting

The CCDI completed its investigation of Sun Zhengcai, the former Politburo member once considered a contender to replace Xi Jinping in 2022. The Party’s judgment of Sun was the most severe we’ve seen in the last five years. The message: No one is off-limits. …

The CCDI completed its investigation of Sun Zhengcai, the former Politburo member once considered a contender to replace Xi Jinping in 2022.
The Party’s judgment of Sun was the most severe we’ve seen in the last five years.
The message: No one is off-limits.
...

sources

People's Daily: 中共中央决定给予孙政才开除党籍、开除公职处分

October 9, 2017

Xi’s Marxism

The topic: Sinicizing Marxism. Here’s what Xi said (via People’s Daily)： “If we deviate from or abandon Marxism, our Party will lose its soul and direction” “the Chinese people are more qualified and capable of… making original contributions to… Marxism” “[We] must focus on what we are doing n…

The topic: Sinicizing Marxism.
Here’s what Xi said (via People’s Daily)：

“If we deviate from or abandon Marxism, our Party will lose its soul and direction”
“the Chinese people are more qualified and capable of… making original contributions to… Marxism”
“[We] must focus on what we are doing n...

sources

People's Daily: 习近平：深刻认识马克思主义时代意义和现实意义继续推进马克思主义中国化时代化大众化

Xinhua: Xi calls for profound understanding of Marxism

October 9, 2017

China models US drug and medical device approval system

The general offices of the CCP Central Committee and the State Council jointly released a document on reforming the system for approving medications and medical devices. It’s pretty technical stuff, but very important for those in the industry. Some highlights: The process for condu…

The general offices of the CCP Central Committee and the State Council jointly released a document on reforming the system for approving medications and medical devices.
It’s pretty technical stuff, but very important for those in the industry. Some highlights:

The process for condu...

sources

State Council: 中共中央办公厅国务院办公厅印发《关于深化审评审批制度改革鼓励药品医疗器械创新的意见》

Bloomberg: China Overhauls Drug Approvals in Win for Global Pharma

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