string(13) "markets-macro"

Macro

September 25, 2017

China’s biggest steelmaker gets bigger

China will soon have the world’s largest steelmaker. That is, if Chen Derong get his way. Chen is the general manager of Baowu Steel, and he says that the producer will increase capacity from around 60 million tonnes (MT) now, to over 100 MT. That would make Baowu bigger than the world’s curren… Username Password Remember… Read More »

China will soon have the world’s largest steelmaker. That is, if Chen Derong get his way.
Chen is the general manager of Baowu Steel, and he says that the producer will increase capacity from around 60 million tonnes (MT) now, to over 100 MT. That would make Baowu bigger than the world’s curren...

sources

EEO: 新信号：宝武钢铁准备大幅扩产能，从6000万吨至1亿吨

SCMP: China’s biggest steelmaker plans to boost capacity while Beijing seeks cut

September 25, 2017

Volatility via blanket industrial shutdowns

Cross your fingers. Readers who live in Beijing like us might be in for a decent winter, at least pollution-wise. Typically, the increase in energy usage during the cold months makes for increased smog in the northeast part of the country. But this year, the push to improve air quality in a sho…

Cross your fingers. Readers who live in Beijing like us might be in for a decent winter, at least pollution-wise.
Typically, the increase in energy usage during the cold months makes for increased smog in the northeast part of the country.
But this year, the push to improve air quality in a sho...

sources

Caixin: Tangshan Tells Steel Firms to Cut Production to Reduce Pollution

September 25, 2017

Is environmental protection going overboard?

China’s regulators are good at direction. But bad at magnitude. That dynamic is playing out now with the push to clean up the environment. Inspection teams have gone from being totally toothless to being unreasonably strict (Caixin): “ [The] fight against air pollution is being undermined…

China’s regulators are good at direction. But bad at magnitude.
That dynamic is playing out now with the push to clean up the environment. Inspection teams have gone from being totally toothless to being unreasonably strict (Caixin):

“ [The] fight against air pollution is being undermined...

sources

Caixin: China’s Sweeping Pollution Crackdown Puts Chill on Economy

September 22, 2017

Is China playing fair?

The cover story of the economist nails it this week. It asks a question that we obsess over (Economist): “China is battling ever more intensely in world markets, but does it play fair?” The magazine gets to the heart of the quandary for any foreign company, government or investor: …

The cover story of the economist nails it this week. It asks a question that we obsess over (Economist):

“China is battling ever more intensely in world markets, but does it play fair?”

The magazine gets to the heart of the quandary for any foreign company, government or investor:

...

sources

The Economist: How China is battling ever more intensely in world markets

September 22, 2017

Red tourism

“Red tourism” is all the rage these days in China (Reuters): “Deep in the mountains of Jinggangshan in the southeastern province of Jiangxi, a classroom of bank tellers participates in an ideological boot camp.” “Reliving the revolution, students walk the route of the Long March, a series of retrea…

“Red tourism” is all the rage these days in China (Reuters):

“Deep in the mountains of Jinggangshan in the southeastern province of Jiangxi, a classroom of bank tellers participates in an ideological boot camp.”
“Reliving the revolution, students walk the route of the Long March, a series of retrea...

sources

Reuters: Reliving China’s Long March ahead of party congress

September 22, 2017

Fast trains get faster

Good news for all those readers who – like us – have to travel between Beijing and Shanghai. The bullet train, a.k.a. the gaotie, just got faster (ecns): “The ‘Fuxing’ trains, running between Beijing and Shanghai, are now running at 350 km/h, cutting the travel time between the two cities to f…

Good news for all those readers who – like us – have to travel between Beijing and Shanghai.
The bullet train, a.k.a. the gaotie, just got faster (ecns):

“The ‘Fuxing’ trains, running between Beijing and Shanghai, are now running at 350 km/h, cutting the travel time between the two cities to f...

sources

ECNS: China’s bullet trains bump speed, Beijing to Shanghai in 4.5 hours

September 22, 2017

Two-front trade war

China is playing nice with the EU – while denouncing the US – when it comes to trade. The trade and investment regulator (MOFCOM) held a regular press conference to talk about it yesterday. On the US: “certain countries’ unilateral action and voice poses an unprecedented threat to the mult…

China is playing nice with the EU – while denouncing the US – when it comes to trade.
The trade and investment regulator (MOFCOM) held a regular press conference to talk about it yesterday.
On the US: “certain countries’ unilateral action and voice poses an unprecedented threat to the mult...

sources

MofCom: 商务部召开例行新闻发布会 (2017年9月21日)

FT: US tries to enlist EU and Japan in China tech fight

September 22, 2017

Mr. Bannon goes to Beijing

The FT scoops that Wang Qishan met with the former chief strategist to US President Donald Trump. You know the guy – Steve Bannon (FT): “According to one person in China familiar with the situation, Mr Bannon travelled to Beijing to meet Wang.” “The meeting occurred at Zhongnanhai, the Chinese…

The FT scoops that Wang Qishan met with the former chief strategist to US President Donald Trump. You know the guy – Steve Bannon (FT):

“According to one person in China familiar with the situation, Mr Bannon travelled to Beijing to meet Wang.”
“The meeting occurred at Zhongnanhai, the Chinese...

sources

FT: Steve Bannon held secret meeting in Beijing

September 22, 2017

The future of Wang Qishan

One of the biggest questions for the upcoming congress is whether the head of China’s discipline commission, Wang Qishan, will stay on for another term, despite already being above the traditional retirement age. Nikkei claims that Wang doesn’t want to stay: “Wang…has expressed a desire to ste…

“Wang…has expressed a desire to ste...

sources

Nikkei: China's anti-graft czar aims to retire at party congress

September 22, 2017

Back to basics for the insurance industry

Jia Biao says the insurance industry is getting back to basics. Who’s Jia Biao you ask? He’s the deputy director of the insurance regulator (CIRC). What he means by getting back to basics: Getting out of speculative high-return investing Supporting the real economy by investing in areas that align …

Jia Biao says the insurance industry is getting back to basics.
Who’s Jia Biao you ask? He’s the deputy director of the insurance regulator (CIRC).
What he means by getting back to basics:

Getting out of speculative high-return investing
Supporting the real economy by investing in areas that align ...

sources

China Securities Journal: 保监会：拓宽险资支持实体经济渠道

September 22, 2017

SandP downgrades China, we shrug

We don’t really want to cover this one. But we feel like we have to because markets will care about it. SandP cut China’s sovereign debt rating late on Thursday. Welcome to the party SandP – they were the last of the ratings agencies to make the downgrade official: “Moody’s cut its rating on China… Read More »

We don’t really want to cover this one. But we feel like we have to because markets will care about it.
SandP cut China’s sovereign debt rating late on Thursday.
Welcome to the party SandP – they were the last of the ratings agencies to make the downgrade official:

“Moody’s cut its rating on China ...

sources

Bloomberg: SandP Cuts China’s Credit Rating, Citing Risk From Debt Growth

Caixin: SandP Cuts China’s Sovereign Credit Ratings

September 21, 2017

Ministry of Environmental Protection seconds the Trivium Tip Sheet

Check your supply chains. That’s what we recommended on Tuesday after the Shanghai government decided to shut down a local supplier for Schaeffler, a German auto supply company. Now the Ministry of Environmental Protection (MEP) is saying the same thing. MEP’s official social media account retw…

Check your supply chains.
That’s what we recommended on Tuesday after the Shanghai government decided to shut down a local supplier for Schaeffler, a German auto supply company.
Now the Ministry of Environmental Protection (MEP) is saying the same thing. MEP’s official social media account retw...

sources

The Paper: 环保部转发时评谈“舍弗勒”事件：汽车业长期漠视供应链污染

The Paper: 浦东回应滚针工厂关停致300万辆汽车减产：9个月前已通知

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