string(13) "markets-macro"

Macro

September 21, 2017

Communist Youth League chief gets demoted

Qin Yizhi, head of the Communist Youth League (CYL) has been appointed deputy head of the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ). That’s an effective demotion. Some context: Qin, who is only 52, looked to be on the fast track to top leadership when he w… Username Password Remember Me Forgot… Read More »

Qin Yizhi, head of the Communist Youth League (CYL) has been appointed deputy head of the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ).
That’s an effective demotion.
Some context: Qin, who is only 52, looked to be on the fast track to top leadership when he w...

sources

Xinhua: 国务院任免国家工作人员：秦宜智任质检总局副局长

September 21, 2017

State Council aims to boost employment

JOBS. That’s top of the State Council agenda this week (gov.cn): “Pro-employment policies should be made to help key groups such as college graduates and laid-off workers from overcapacity cuts.” Some context: Even though the economy has been creating around 13 million jobs a year, polic…

JOBS. That’s top of the State Council agenda this week (gov.cn):

“Pro-employment policies should be made to help key groups such as college graduates and laid-off workers from overcapacity cuts.”

Some context: Even though the economy has been creating around 13 million jobs a year, polic...

sources

Gov.cn: 李克强主持召开国务院常务会议部署进一步促进扩大就业等

Gov.cn: Premier Li stresses efforts to expand employment

September 21, 2017

China makes nice with Singapore

Xi Jinping met with Prime Minister of Singapore Lee Hsien Loong Wednesday. The two leaders were all smiles for the cameras, and promised to deepen ties (Straits Times): “PM Lee and President Xi reaffirmed the deep and strong friendship built over successive generations of high-level interactions be…

Xi Jinping met with Prime Minister of Singapore Lee Hsien Loong Wednesday.
The two leaders were all smiles for the cameras, and promised to deepen ties (Straits Times):

“PM Lee and President Xi reaffirmed the deep and strong friendship built over successive generations of high-level interactions be...

sources

CPC People: 习近平会见新加坡总理李显龙

Straits Times: Chinese President Xi Jinping and Singapore PM Lee Hsien Loong discuss new areas of cooperation

September 21, 2017

Guangzhou authorities want to know what you’re buying

Hold on to your receipts. That’s what banks in Guangzhou are now telling their customers. The city’s banks are conducting some of the most thorough oversight of consumer lending to date. Last week, we flagged that Beijing, Shenzhen and Jiangsu’s banking regulators have implemented new rule…

Hold on to your receipts. That’s what banks in Guangzhou are now telling their customers.
The city’s banks are conducting some of the most thorough oversight of consumer lending to date.
Last week, we flagged that Beijing, Shenzhen and Jiangsu’s banking regulators have implemented new rule...

sources

21st Century Biz: 监管“围剿”消费贷流入楼市贷款银行要求补充消费凭证

September 21, 2017

Calls to ease monetary policy get louder

Chinese economists are asking one question: Is it time to ease monetary policy? The reason: Financial conditions have tightened throughout September. The currency is relatively strong and market interest rates are up. So some folks are arguing for a cut to banks’ reserve requirements …

Chinese economists are asking one question: Is it time to ease monetary policy?
The reason: Financial conditions have tightened throughout September. The currency is relatively strong and market interest rates are up. So some folks are arguing for a cut to banks’ reserve requirements ...

sources

Caixin: China Liquidity Squeeze Spurs Debate Over Reserve Ratio Cut

September 20, 2017

Know your cadre

Say hello to Wang Yupu. He used to be the chairman of SINOPEC – one of China’s big national oil companies (NOCs). But yesterday, he was appointed Party boss of the State Administration of Work Safety (SAWS). What’s SAWS? It’s what it sounds like – the occupational health and safety regulator. B…

Say hello to Wang Yupu.
He used to be the chairman of SINOPEC – one of China’s big national oil companies (NOCs). But yesterday, he was appointed Party boss of the State Administration of Work Safety (SAWS).
What’s SAWS? It’s what it sounds like – the occupational health and safety regulator. B...

sources

China Safety: 王玉普同志任国家安全生产监督管理总局党组书记

Caixin: China Names Sinopec Chairman Top Workplace Safety Regulator

September 20, 2017

MLR halves land supply of 16 cities

Land supply is a crucial variable for the property market. That seems like a no-brainer. But it’s truer in China than in most places, thanks to the strict control that government exercises over this fundamental resource. So it’s a big deal when the Ministry of Land Resources (MLR) effectively t…

Land supply is a crucial variable for the property market. That seems like a no-brainer.
But it’s truer in China than in most places, thanks to the strict control that government exercises over this fundamental resource.
So it’s a big deal when the Ministry of Land Resources (MLR) effectively t...

sources

The Paper: 国土资源部严控城市新增建设用地，16城新申报规模被砍半

September 20, 2017

China’s currency rollercoaster

China’s currency traders have whiplash. The CNY strengthened considerably throughout August and into the early part of September, topping out at 6.4617 against the dollar on September 8 – the strongest rate since April 2016. Since that time, though, the depreciation of the currency has been similarl…

China’s currency traders have whiplash.
The CNY strengthened considerably throughout August and into the early part of September, topping out at 6.4617 against the dollar on September 8 – the strongest rate since April 2016.
Since that time, though, the depreciation of the currency has been similarl...

sources

China Securities Journal: 人民币：“踩刹车”回归“双行道”

September 20, 2017

DES – in the eye of the beholder

When it comes to debt-for-equity swaps (DES), progress is in the eye of the beholder. The Shanxi banking regulator (CBRC), for example, is crowing about the RMB 112 billion in DES that have recently been signed in the province. The deals were struck between seven banks and seven large local coa…

When it comes to debt-for-equity swaps (DES), progress is in the eye of the beholder.
The Shanxi banking regulator (CBRC), for example, is crowing about the RMB 112 billion in DES that have recently been signed in the province. The deals were struck between seven banks and seven large local coa...

sources

21st Century Biz: 山西债转股签约1120亿资金成本高等因素致落地较慢

Caixin: 山西银监局：债转股落地158亿元七大煤企负债率同比下降

September 20, 2017

Why China’s steel companies are complaining

China’s steel companies aren’t happy. At least that’s what they said at a steel conference this week. The reason for their frustration? The companies don’t feel like banks are playing ball with them on debt-for-equity swaps (DES). According to China’s steel association, 10 steel companies have …

China’s steel companies aren’t happy.
At least that’s what they said at a steel conference this week.
The reason for their frustration? The companies don’t feel like banks are playing ball with them on debt-for-equity swaps (DES).
According to China’s steel association, 10 steel companies have ...

sources

Xinhua: “债转股”仅占4% 钢铁行业去杠杆难在哪

September 19, 2017

Mortgages get more expensive

Banks in Beijing are trying to turn the screws. The banking regulator (CBRC) has asked them to get tougher when it comes to property market loans. The latest move, per Caixin: “Several banks in Beijing are said to have raised the interest rates on first-home housing loans, beginning Thurs…

Banks in Beijing are trying to turn the screws. The banking regulator (CBRC) has asked them to get tougher when it comes to property market loans.
The latest move, per Caixin:

“Several banks in Beijing are said to have raised the interest rates on first-home housing loans, beginning Thurs...

sources

Caixin: Several Beijing Banks Raise Mortgage Rates, Halt Housing Loans

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