string(13) "markets-macro"

Macro

June 15, 2017

Apple’s “tip tax” looks like a big mistake

That’s a tax!…is how many Chinese people view Apple’s new practice of taking 30% of all tips given through iPhone applications. Tipping is where readers voluntarily give a few RMB to authors for content that they like on the web. It’s direct through the app. And it’s a huge phenomenon in China…. Username Password Remember Me… Read More »

That’s a tax!…is how many Chinese people view Apple’s new practice of taking 30% of all tips given through iPhone applications.
Tipping is where readers voluntarily give a few RMB to authors for content that they like on the web. It’s direct through the app. And it’s a huge phenomenon in China....

sources

SCMP: Apple imposes 30 per cent tax on China’s digital content creators

ifeng: 腾讯高管：为了更自由的用微信，我打算重新买部安卓手机

Xinhua: 打赏收入，该不该纳税?

June 15, 2017

China is getting serious about green finance

China’s polluted environment may pose the biggest risk to the Communist Party. And Xi Jinping knows it. That’s why Xi’s Leading Small Group on Reform issued opinions in 2016 to promote “green finance”. Those opinions are now filtering into implementing guidelines. Here are three developments from th…

China’s polluted environment may pose the biggest risk to the Communist Party. And Xi Jinping knows it.
That’s why Xi’s Leading Small Group on Reform issued opinions in 2016 to promote “green finance”.
Those opinions are now filtering into implementing guidelines. Here are three developments from th...

sources

Caixin: 央行发改委达成共识将编制统一绿色债目录

STCN: 环保部、证监会签署环境信息披露合作协议

Gov.cn: 国务院常务会 | 李克强：后续监管如发现不符合要求，即依法撤销许可证

June 15, 2017

Li’s government revolution in action

Yesterday we told you about Li Keqiang’s efforts to reform government. The goal is to create a better business environment. Today, we saw these efforts in action when the Beijing government reached out to us to hear our take on the business environment. Not so fast: Other local govern…

Yesterday we told you about Li Keqiang’s efforts to reform government. The goal is to create a better business environment.
Today, we saw these efforts in action when the Beijing government reached out to us to hear our take on the business environment.
Not so fast: Other local govern...

sources

Gov.cn: 辽宁省各部门将优化营商环境落在实处

June 15, 2017

Premier Li won’t shut up about government reform

Li is at it again. Guess what Wednesday’s State Council meeting was about? That’s right, improving the business environment. Specifically, it was about cutting red tape and eliminating the need for manufacturing licenses for certain products. Li’s been reducing administrative approvals since he too…

Li is at it again.
Guess what Wednesday’s State Council meeting was about? That’s right, improving the business environment.
Specifically, it was about cutting red tape and eliminating the need for manufacturing licenses for certain products.
Li’s been reducing administrative approvals since he too...

sources

Gov.cn: China to cut licensing red tape for industries

Gov.cn: 国务院常务会 | 李克强：后续监管如发现不符合要求，即依法撤销许可证

June 14, 2017

It’s Fed day, even in China

The Federal Reserve is widely expected to raise interest rates today. It may also set out a plan for shrinking its balance sheet. They will let us know at 2pm Eastern in the US. Why does it matter for China? China’s monetary policy is increasingly intertwined with America’s. When the Fed …

The Federal Reserve is widely expected to raise interest rates today. It may also set out a plan for shrinking its balance sheet. They will let us know at 2pm Eastern in the US.
Why does it matter for China? China’s monetary policy is increasingly intertwined with America’s. When the Fed ...

sources

PBoC: 人民银行有关负责人就公开市场操作中标利率相关问题答记者问

Reuters: If Fed raises rates, China likely to follow with more modest move – traders

FT: Why China no longer fears the Fed

June 14, 2017

China’s rates may have hit an inflection point

Some traders are starting to wonder if China’s market rates have topped out. That’s because they see better bank liquidity from at least one channel — interbank deposits. New issuance of interbank deposits was up 75% in the first two weeks of June compared to the same period in May. Net is…

Some traders are starting to wonder if China’s market rates have topped out. That’s because they see better bank liquidity from at least one channel — interbank deposits.
New issuance of interbank deposits was up 75% in the first two weeks of June compared to the same period in May. Net is...

sources

21st Century Biz: 同业存单十天放量逾9千亿利率“滞粘”悖逆探究

June 14, 2017

Data Dump — property construction comes in weak

We told you yesterday to keep an eye on real estate investment and new construction starts. We also told you we expected them to hold up well in May. Sometimes the better part of valor is admitting you were wrong. Real estate investment cooled quite a bit. It grew 7.3%y/y — that’s com…

We told you yesterday to keep an eye on real estate investment and new construction starts. We also told you we expected them to hold up well in May.
Sometimes the better part of valor is admitting you were wrong.
Real estate investment cooled quite a bit. It grew 7.3%y/y — that’s com...

sources

Reuters: China May output, retail sales steady but investment cools

June 14, 2017

New ties with Panama will not solve the Taiwan problem

China has established diplomatic relations with Panama, which previously recognized Taiwan. That brings the number of countries that recognize Taiwan down to 20. What’s next: The move could encourage other Central American and Caribbean countries to cut ties with Taiwan. China has been making a…

China has established diplomatic relations with Panama, which previously recognized Taiwan. That brings the number of countries that recognize Taiwan down to 20.
What’s next: The move could encourage other Central American and Caribbean countries to cut ties with Taiwan. China has been making a...

sources

Xinhua: China, Panama establish diplomatic ties

June 14, 2017

One step closer to US beef imports

A US Trade Representative press release (link below) informs us: “The U.S. Department of Agriculture has reached agreement with Chinese officials on final details of a protocol to allow the U.S. to begin the beef exports to China. Secretary of Agriculture Sonny Perdue today announced the post…

A US Trade Representative press release (link below) informs us:

“The U.S. Department of Agriculture has reached agreement with Chinese officials on final details of a protocol to allow the U.S. to begin the beef exports to China. Secretary of Agriculture Sonny Perdue today announced the post...

sources

USTR: U.S., China Finalize Details to Send U.S. Beef to China

June 14, 2017

Premier Li wants a “revolution” in government

We know it’s boring, but when the entire cabinet meets, we think you should know about it. Li Keqiang continues to call for a streamlining of government functions and a reduction in red tape. Get smart: Li’s role has been much reduced from that of previous premiers. Government reform is the one…

We know it’s boring, but when the entire cabinet meets, we think you should know about it.
Li Keqiang continues to call for a streamlining of government functions and a reduction in red tape.
Get smart: Li’s role has been much reduced from that of previous premiers. Government reform is the one...

sources

Gov.cn: Premier Li stresses reform of government functions

Gov.cn: 做好今年放管服改革，总理要求做到这五个“为”

June 14, 2017

Liu Shiyu is cleaning up the equity markets

The financial regulators have been on a tear since March. From SCMP: “China’s securities regulator is rejecting initial public offering applications at the fastest pace in four years, suggesting it is getting tougher on the rules introduced to improve the quality of listed companies while speeding …

The financial regulators have been on a tear since March. From SCMP:

“China’s securities regulator is rejecting initial public offering applications at the fastest pace in four years, suggesting it is getting tougher on the rules introduced to improve the quality of listed companies while speeding ...

sources

SCMP: China’s regulator rejecting IPOs at fastest pace in four years

June 14, 2017

Anbang detention is about insurance, not politics

Wu Xiaohui, chairman of Anbang Insurance Group has been detained. But the Party doesn’t want you to talk about it. They have taken down all articles on the subject (hence no links to Chinese media below). Get smart: It’s very tempting to see the Anbang case as a proxy political battle — es…

Wu Xiaohui, chairman of Anbang Insurance Group has been detained. But the Party doesn’t want you to talk about it. They have taken down all articles on the subject (hence no links to Chinese media below).
Get smart: It’s very tempting to see the Anbang case as a proxy political battle — es...

sources

Anbang Group: 安邦保险集团声明

NYT: Chairman of Chinese Firm Who Tried to Forge Ties With Jared Kushner Is Detained

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