string(13) "markets-macro"

Macro

July 25, 2017

Insurance should “return to its origins”

We continue to look for signs of where financial regulation is headed. It seems to us more strictness is coming down the pike, but likely after the Party Congress. The latest comments from the insurance regulator support that expectation. On Saturday, the regulator published a recent speech by … Username Password Remember Me Forgot… Read More »

We continue to look for signs of where financial regulation is headed. It seems to us more strictness is coming down the pike, but likely after the Party Congress.
The latest comments from the insurance regulator support that expectation. On Saturday, the regulator published a recent speech by ...

sources

Business Standard: China insurance regulator urges industry to show more “self-discipline”

CIRC: 充分发挥行业自律功能为维护保险业稳定健康发展贡献力量

July 25, 2017

Anti-corruption battle shifts gear

Don’t expect Xi Jinping’s anti-corruption campaign to slow down. If anything, it’s going deeper. The latest data from the corruption watchdog has now dropped. 2016 was a doozy. 2017 even more so. Xinhua tips us off that the Party has disciplined over 1.1 million officials from 2013-2016 – and t…

Don’t expect Xi Jinping’s anti-corruption campaign to slow down. If anything, it’s going deeper.
The latest data from the corruption watchdog has now dropped. 2016 was a doozy. 2017 even more so.
Xinhua tips us off that the Party has disciplined over 1.1 million officials from 2013-2016 – and t...

sources

Xinhua: 构筑“不能腐”的制度体系——党的十八大以来纪律检查体制改革综述

July 24, 2017

Xi’s power play

Further information on Sun Zhengcai’s removal continues to trickle in. Recall that Sun was suddenly removed from his post as Chongqing Party secretary on July 15, but no official reason for his removal has yet been given. Chris Buckley has the latest in the New York Times: “Three people who ar…

Further information on Sun Zhengcai’s removal continues to trickle in.
Recall that Sun was suddenly removed from his post as Chongqing Party secretary on July 15, but no official reason for his removal has yet been given.
Chris Buckley has the latest in the New York Times:

“Three people who ar...

sources

NYT: From Political Star to ‘a Sacrificial Object’ in China

Trivium: Trivium’s Guide to the 19th Party Congress

July 24, 2017

Dalian Wanda kowtows to Xi

The recent crackdown on outbound investment comes straight from the top. So says some solid new reporting from Lingling Wei and Chao Deng at WSJ (link below). That explains the heft behind the seemingly sudden smackdown of some of China’s wealthiest businessmen. It also explains their ready acq…

The recent crackdown on outbound investment comes straight from the top. So says some solid new reporting from Lingling Wei and Chao Deng at WSJ (link below).
That explains the heft behind the seemingly sudden smackdown of some of China’s wealthiest businessmen. It also explains their ready acq...

sources

WSJ: Xi’s Sign-Off Deals Blow to China Inc.’s Global Spending Spree

Caixin: Wanda Will Keep Major Investments in China, Chairman Says

July 24, 2017

Not all outbound investment is created equal

One more important nugget from that same Journal article that is easy to miss: “Not all cross-border investment is out of favor. Beijing wants companies to support initiatives such as Mr. Xi’s signature ‘One Belt, One Road’ initiative… Investments are being approved for industrial robots and o…

One more important nugget from that same Journal article that is easy to miss:

“Not all cross-border investment is out of favor. Beijing wants companies to support initiatives such as Mr. Xi’s signature ‘One Belt, One Road’ initiative… Investments are being approved for industrial robots and o...

sources

WSJ: Xi’s Sign-Off Deals Blow to China Inc.’s Global Spending Spree

July 24, 2017

The easy way to reduce interbank risk

Avoiding risk in China’s interbank market isn’t all that hard. OK – that’s an exaggeration. But the 21st Century Business Herald tips us off that banks fully understand one way to avoid interbank transaction risk. Turns out that the central banks’ messaging system for such transactions is quite…

Avoiding risk in China’s interbank market isn’t all that hard.
OK – that’s an exaggeration. But the 21st Century Business Herald tips us off that banks fully understand one way to avoid interbank transaction risk. Turns out that the central banks’ messaging system for such transactions is quite...

sources

21st Century Biz: 同业业务风险如何规避？央行的大额自由报文系统要用好

RBA: The Chinese Interbank Repo Market

July 24, 2017

Bleak outlook for IPOs in China

There has recently been lots of speculation in Chinese markets that the securities regulator (CSRC) will relax IPO approvals soon. That was largely thanks to Xi Jinping’s emphasis on direct financing at the Financial Work Conference (NFWC) a few days ago. CSRC’s response: not a chance. The regu…

sources

CSRC: 2017年7月21日新闻发布会

Securities Daily: 发审委询问更加细化 IPO审核未放宽

Securities Daily: 如何建立融资功能完备的IPO市场

July 24, 2017

Shenzhen has a new mayor

Shenzhen is one of China’s most important and dynamic cities, so it’s a good idea to know who’s running the place. Meet the city’s new mayor, Chen Rugui (SCMP): “He became deputy party secretary of the Guangzhou Housing and Urban-Rural Construction Committee in 2003” He went “on to hold …

Shenzhen is one of China’s most important and dynamic cities, so it’s a good idea to know who’s running the place.
Meet the city’s new mayor, Chen Rugui (SCMP):

“He became deputy party secretary of the Guangzhou Housing and Urban-Rural Construction Committee in 2003”
He went “on to hold ...

sources

SCMP: In the hi-tech hot seat: new mayor to head ‘China’s Silicon Valley’

China Daily: Guangdong native to serve as acting mayor of Shenzhen

July 24, 2017

Xi wants China to be more red

Xi Jinping and the rest of the Politburo Standing Committee recently visited an exhibition marking the 90th anniversary of the founding of the PLA. During the visit, Xi waxed eloquent: “We should remember the glorious history, inherit the red gene, and advance the great cause initiated by the older…

Xi Jinping and the rest of the Politburo Standing Committee recently visited an exhibition marking the 90th anniversary of the founding of the PLA.
During the visit, Xi waxed eloquent:

“We should remember the glorious history, inherit the red gene, and advance the great cause initiated by the older...

sources

CPC People: 习近平：铭记光辉历史传承红色基因

Xinhua: Top Chinese leaders visit military exhibition

July 21, 2017

Scoping out the Party congress

It’s that time. We are about three to four months away from the 19th Party Congress, so its silly season when it comes to Chinese politics. In the wake of what looks like a high-level political takedown of Sun Zhengcai, it’s clear things are heating up. As we explained on Monday, Sun was previ…

It’s that time.
We are about three to four months away from the 19th Party Congress, so its silly season when it comes to Chinese politics.
In the wake of what looks like a high-level political takedown of Sun Zhengcai, it’s clear things are heating up. As we explained on Monday, Sun was previ...

sources

Trivium: Trivium’s Guide to The 19th Party Congress

July 21, 2017

Meet the team charged with taming China’s financial markets

Looking at question six above, we think the answer is “yes” – more financial tightening is set to come after the Party congress. And now we have a clearer idea of who will be running that show. 44 delegates from the financial sector will attend the Party congress, and Caixin has the list of who… Read More »

Looking at question six above, we think the answer is “yes” – more financial tightening is set to come after the Party congress.
And now we have a clearer idea of who will be running that show.
44 delegates from the financial sector will attend the Party congress, and Caixin has the list of who will...

sources

Caixin: 44 delegates of 19th Party Congress from Financial Sector

July 21, 2017

The CBRC makes it easier for banks to raise capital

China’s banking regulator (CBRC) is being tougher on banks, but it knows they can only take so much pain – otherwise the whole exercise becomes self-defeating. So the CBRC is making it easier for banks to raise capital. In a recent revision to licensing protocols, the CBRC has effectively made …

China’s banking regulator (CBRC) is being tougher on banks, but it knows they can only take so much pain – otherwise the whole exercise becomes self-defeating.
So the CBRC is making it easier for banks to raise capital.
In a recent revision to licensing protocols, the CBRC has effectively made ...

sources

CBRC: 中国银监会关于修改《中资商业银行行政许可事项实施办法》的决定

CBRC: 银监会有关部门负责人就《关于修改<中资商业银行行政许可事项实施办法>的决定》答记者问

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