string(13) "markets-macro"

Macro

September 26, 2017

Li and Ross are all smiles

Li Keqiang met with US Secretary of Commerce Wilbur Ross, who is in Beijing to lay the groundwork for Trump’s visit in November. The official readout offered nothing new and little of substance (link below). Li repeated China’s desire for the US to treat Chinese investment fairly and lift restr… Username Password Remember Me … Read More »

Li Keqiang met with US Secretary of Commerce Wilbur Ross, who is in Beijing to lay the groundwork for Trump’s visit in November.
The official readout offered nothing new and little of substance (link below).
Li repeated China’s desire for the US to treat Chinese investment fairly and lift restr...

sources

CPC People: 李克强会见美国商务部长罗斯

Bloomberg: Ross Meets Li in China on First Stop of Asia Tour

September 26, 2017

Top leaders discuss what a good job they have done

It’s been a great five years. That’s the message of a new exhibition at the Beijing Exhibition Center. Xi and his colleagues on the Politburo Standing Committee toured the exhibition Monday. But Xi was quick to point out that their work is not finished (Xinhua): “Commending the ‘historic progr…

It’s been a great five years.
That’s the message of a new exhibition at the Beijing Exhibition Center. Xi and his colleagues on the Politburo Standing Committee toured the exhibition Monday.
But Xi was quick to point out that their work is not finished (Xinhua):

“Commending the ‘historic progr...

sources

CPC People: 习近平：振奋精神砥砺奋进再接再厉为实现中华民族伟大复兴的中国梦继续奋斗

Xinhua: Xi calls for persistently pursuing Chinese dream of national rejuvenation

September 26, 2017

Banks shed WMPs

Wealth manage products (WMPs) are out of style. The last data says that WMP growth has slowed rapidly. In fact, bank-owned WMPs have dropped by almost one-third (Caixin): “As of the end of June, the outstanding value of WMPs sold among financial institutions dropped 31% to 4.61 trillion yuan ($699 …

Wealth manage products (WMPs) are out of style.
The last data says that WMP growth has slowed rapidly. In fact, bank-owned WMPs have dropped by almost one-third (Caixin):

“As of the end of June, the outstanding value of WMPs sold among financial institutions dropped 31% to 4.61 trillion yuan ($699 ...

sources

Caixin: Shadow-Banking Leverages Appear Reined In

September 26, 2017

CSRC gets politically correct

The securities regulator (CSRC) is doing its bit to promote stability ahead of the 19th Party Congress. It held a big work meeting on Monday. Discussions at the meeting were pretty fluffy, but the idea was simply to show that the regulator is focused on providing a sta…

The securities regulator (CSRC) is doing its bit to promote stability ahead of the 19th Party Congress.
It held a big work meeting on Monday. Discussions at the meeting were pretty fluffy, but the idea was simply to show that the regulator is focused on providing a sta...

sources

Financial News: 证监会部署迎接十九大各项工作

September 26, 2017

Is Liaoning’s economy finally turning the corner?

That’s the question that China’s financial media is asking. The province posted positive industrial growth in August for the first time in three years (21st Cent Biz, link below). Still, we aren’t exactly talking gangbusters growth here. Industrial output expanded by 1.9% y/y – up fro…

That’s the question that China’s financial media is asking. The province posted positive industrial growth in August for the first time in three years (21st Cent Biz, link below).
Still, we aren’t exactly talking gangbusters growth here. Industrial output expanded by 1.9% y/y – up fro...

sources

21st Century Biz: 辽宁8月工业增速转正东北经济正走出低谷

Arab News: China rust belt opens door wider to foreign investors

September 26, 2017

Private business should toe the Party line

There is still one big question for private businesses – to what extent will private entrepreneurs really be able to control their own businesses? On this score, the Party and the government have some . . . errrr . . . requests (link below): Stay clean, green and legal Support the work of Party cel…

There is still one big question for private businesses – to what extent will private entrepreneurs really be able to control their own businesses?
On this score, the Party and the government have some . . . errrr . . . requests (link below):

Stay clean, green and legal
Support the work of Party cel...

sources

Gov.cn: 中共中央国务院关于营造企业家健康成长环境弘扬优秀企业家精神更好发挥企业家作用的意见

September 26, 2017

CCP = Chinese Capitalist Party?

The Party wants to encourage entrepreneurship. That’s according to a new Central Committee document released Monday. How they plan to do it: Require that opinions from the business community are solicited prior to drafting economic policies Create a stable business environment by ensuring that…

The Party wants to encourage entrepreneurship. That’s according to a new Central Committee document released Monday.
How they plan to do it:

Require that opinions from the business community are solicited prior to drafting economic policies
Create a stable business environment by ensuring that...

sources

Gov.cn: 中共中央国务院关于营造企业家健康成长环境弘扬优秀企业家精神更好发挥企业家作用的意见

People's Daily: 中国发展需要弘扬优秀企业家精神

September 25, 2017

Teach so that Chinese youth support the Party

China’s education system is getter redder. The Party Central Committee joined up with the State Council over the weekend to release new opinions to deepen reform of the education system (full document not yet available). Our key takeaways from the official readout (link below) A call to “…

China’s education system is getter redder.
The Party Central Committee joined up with the State Council over the weekend to release new opinions to deepen reform of the education system (full document not yet available).
Our key takeaways from the official readout (link below)

A call to “...

sources

Gov.cn: 中共中央办公厅国务院办公厅印发《关于深化教育体制机制改革的意见》

Xinhua: Students “guided to firmly support the CPC leadership” in education reforms

September 25, 2017

Xi wants his own military-industrial complex

Xi Jinping chaired the second meeting of the Central Commission for Integrated Military and Civilian Development (CCIMCD) Friday. Some context: Civ-mil integration (CMI) has been on the cards since the 80s, but there has been little progress. But Xi has elevated CMI to a national strategy,…

Xi Jinping chaired the second meeting of the Central Commission for Integrated Military and Civilian Development (CCIMCD) Friday.
Some context: Civ-mil integration (CMI) has been on the cards since the 80s, but there has been little progress. But Xi has elevated CMI to a national strategy,...

sources

CPC People: 习近平：向军民融合发展重点领域聚焦用力

Xinhua: 富国强军的战略之举——以习近平同志为核心的党中央领导和推进强军兴军纪实之七

Xinhua: China Focus: Xi stresses integrated military, civilian development

September 25, 2017

Urban renewal is catching on

Urban renewal is the key to sustaining China’s housing market. That’s according to a new report from the Housing Ministry (MOHURD)’s research center. The key to improving China’s cities, undergirding the next round of urbanization, and sustaining property growth will be in upgrading old and poor-qua…

Urban renewal is the key to sustaining China’s housing market.
That’s according to a new report from the Housing Ministry (MOHURD)’s research center.
The key to improving China’s cities, undergirding the next round of urbanization, and sustaining property growth will be in upgrading old and poor-qua...

sources

21st Century Biz: 房地产转入第四大战场：争夺存量市场万亿空间

September 25, 2017

Trying to chill the housing market

Freeze housing transactions and focus on the rental market. That pretty much sums up national real estate policy in H2 2017. But there’s one big problem. People still want to buy – those animal spirits die hard when it comes to property. The average investor has strong conviction that property …

Freeze housing transactions and focus on the rental market.
That pretty much sums up national real estate policy in H2 2017.
But there’s one big problem. People still want to buy – those animal spirits die hard when it comes to property. The average investor has strong conviction that property ...

sources

Xinhua: 2天8城楼市调控加码，释放什么信号?

21st Century Biz: 狙击短线炒房：七城楼市调控加码，还有哪些城市会跟进?

September 25, 2017

Financial sector opening

There’s been a lot of chatter about possible liberalization of the financial sector lately. Last week, Bloomberg reported that the PBoC is drafting a plan for financial market opening. Two big moves have been mooted: “[permitting] foreign institutions to control their local finance-sector join…

There’s been a lot of chatter about possible liberalization of the financial sector lately.
Last week, Bloomberg reported that the PBoC is drafting a plan for financial market opening.
Two big moves have been mooted:

“[permitting] foreign institutions to control their local finance-sector join...

sources

Bloomberg: China PBOC to Draft Package for Financial Market Opening, Sources Say

Caixin: 中国金融业扩大对外开放的说法从何而来?

21st Century Biz: 《2017·径山报告》：建议进一步扩大金融业对外开放

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