string(13) "markets-macro"

Macro

August 24, 2024

MoFA touts commitment to international scientific collaboration

Ya’ll wanna come over and do some science? At Thursday’s Ministry of Foreign Affairs (MoFA) press conference, spokeswoman Mao Ning talked up China’s international sci-tech collaboration, saying “science and technology have no borders.” Some context: The comments are tied to an ongoing 45-day deep se… Username Password Remember Me Forgot Password

Ya’ll wanna come over and do some science?
At Thursday's Ministry of Foreign Affairs (MoFA) press conference, spokeswoman Mao Ning talked up China’s international sci-tech collaboration, saying “science and technology have no borders.”
Some context: The comments are tied to an ongoing 45-day deep se...

sources

Yicai: 外交部：中国始终致力于开展国际科技合作

news.cn: “蛟龙号”首次搭载外国科学家下潜作业

August 24, 2024

What are all-weather comprehensive strategic friends for?

Premier Li Qiang stopped off in Belarus to do a bit of fan service. On Thursday, Li made a pitstop in Minsk to meet with Belarussian President Alexander Lukashenko. Some context: Li was in the neighborhood following meetings with top Russian leaders on Wednesday. Li offered some boilerplate remarks …

Premier Li Qiang stopped off in Belarus to do a bit of fan service.
On Thursday, Li made a pitstop in Minsk to meet with Belarussian President Alexander Lukashenko.
Some context: Li was in the neighborhood following meetings with top Russian leaders on Wednesday.
Li offered some boilerplate remarks ...

sources

Xinhua: Chinese premier says to promote high-level development of China-Belarus bilateral partnership

August 24, 2024

Xi promotes his agenda on Deng’s birthday

The Party will continue asserting control over the economy and society. That’s our takeaway from Xi Jinping’s speech on Thursday, celebrating Deng Xiaoping’s 120th birthday. Some context: Every ten years, Party leadership attends a symposium celebrating the birthday of paramount leader Deng Xiaopi…

The Party will continue asserting control over the economy and society.

That's our takeaway from Xi Jinping's speech on Thursday, celebrating Deng Xiaoping’s 120th birthday.

Some context: Every ten years, Party leadership attends a symposium celebrating the birthday of paramount leader Deng Xiaopi...

sources

Xinhua: 习近平：在纪念邓小平同志诞辰120周年座谈会上的讲话

Xinhua: 习近平：在纪念邓小平同志诞辰110周年座谈会上的讲话

August 24, 2024

Beijing adds energy equipment to industrial upgrading program

China’s government is offering incentives for companies to upgrade their energy equipment. ICYDK: In March, the State Council launched an industrial equipment upgrading program, providing subsidies and tax breaks to incentivize companies to upgrade industrial machinery. In July, the State…

China's government is offering incentives for companies to upgrade their energy equipment.
ICYDK: In March, the State Council launched an industrial equipment upgrading program, providing subsidies and tax breaks to incentivize companies to upgrade industrial machinery.

In July, the State...

sources

Gov.cn: 关于印发《能源重点领域大规模设备更新实施方案》的通知

August 24, 2024

PwC faces suspension over Evergrande

PwC will soon face a record fine for its failure to identify fraud at China Evergrande Group. IDYCK: PwC Zhong Tian LLP – PwC’s branch in mainland China – served as Evergrande’s auditor prior to the developer defaulting on its bonds. On Wednesday, Reuters reported that regulators will suspend “a big…

PwC will soon face a record fine for its failure to identify fraud at China Evergrande Group.
IDYCK: PwC Zhong Tian LLP – PwC’s branch in mainland China – served as Evergrande’s auditor prior to the developer defaulting on its bonds.
On Wednesday, Reuters reported that regulators will suspend “a big...

sources

Reuters: PwC China faces 6-month business ban, large fine over Evergrande audit, sources say

August 24, 2024

Opening the market to innovation

China’s leadership wants market access policies to better support new growth areas. On Wednesday, the general offices of the Party Central Committee and State Council released guidelines on improving market access in emerging fields. Specifically, the leadership proposed an easing of market access r…

China’s leadership wants market access policies to better support new growth areas.
On Wednesday, the general offices of the Party Central Committee and State Council released guidelines on improving market access in emerging fields.
Specifically, the leadership proposed an easing of market access r...

sources

Gov.cn: 中共中央办公厅国务院办公厅关于完善市场准入制度的意见

People.cn: 完善市场准入激发市场潜能（政策解读）

August 22, 2024

Whitelist property lending slows

Banks continue to expand lending to housing projects under the whitelist mechanism, but at a slower pace. On Wednesday, the financial regulator (NFRA) disclosed that, as of August 21, commercial banks had approved almost RMB 1.4 trillion in loans to 5,392 whitelisted property projects since the prog…

Banks continue to expand lending to housing projects under the whitelist mechanism, but at a slower pace.
On Wednesday, the financial regulator (NFRA) disclosed that, as of August 21, commercial banks had approved almost RMB 1.4 trillion in loans to 5,392 whitelisted property projects since the prog...

sources

SCIO: 国新办举行“推动高质量发展”系列主题新闻发布会（国家金融监督管理总局）图文实录

August 22, 2024

Local government non-tax revenue soars in H1

Tax revenue is falling, and local governments are scrambling to cover the loss. In H1 2024, China’s general budget revenue – the biggest chunk of fiscal income – fell 2.8% y/y (MoF). The decline was led by a 5.6% drop in tax revenue. However, “non-tax” revenue – which includes administrative fees, …

Tax revenue is falling, and local governments are scrambling to cover the loss.
In H1 2024, China’s general budget revenue – the biggest chunk of fiscal income – fell 2.8% y/y (MoF).

The decline was led by a 5.6% drop in tax revenue.
However, “non-tax” revenue – which includes administrative fees, ...

sources

MoF: 2024年上半年财政收支情况

21st Century Biz: 上半年多地加大资源盘活推动非税收入增长北京、辽宁卖地收入实现正增长

August 22, 2024

State Council eyes national legal consistency

On Monday, the State Council executive meeting approved changes to how government regulations are filed and reviewed. The rules cover government regs from the State Council right down to the rungs of local government. Some context: In China, no laws or regs – whether from the legislature, the Stat…

On Monday, the State Council executive meeting approved changes to how government regulations are filed and reviewed.

The rules cover government regs from the State Council right down to the rungs of local government.

Some context: In China, no laws or regs – whether from the legislature, the Stat...

sources

People's Daily: 李强主持召开国务院常务会议

August 22, 2024

Not another Sino-Russian lovefest

The China-Russia partnership is expanding. On Wednesday, Premier Li Qiang was in Moscow for talks with Russian President Vladimir Putin and Prime Minister Mikhail Mishustin. The occasion: The 29th regular meeting of the Chinese and Russian heads of government. Li touched on familiar themes during hi…

The China-Russia partnership is expanding.
On Wednesday, Premier Li Qiang was in Moscow for talks with Russian President Vladimir Putin and Prime Minister Mikhail Mishustin.
The occasion: The 29th regular meeting of the Chinese and Russian heads of government.
Li touched on familiar themes during hi...

sources

MoFA: 中俄总理第二十九次定期会晤联合公报（全文）

MoFA: 李强同俄罗斯总理米舒斯京共同主持中俄总理第二十九次定期会晤

MoFA: 李强会见俄罗斯总统普京

August 22, 2024

EU cheese on the chopping block

On Wednesday, China’s commerce ministry (MofCom) launched an anti-subsidy investigation into a targeted list of EU dairy products. The details: MofCom will investigate whether 13 country-specific and seven EU-wide dairy subsidy schemes have unfairly distorted trade. The probe targets fresh and proc…

On Wednesday, China's commerce ministry (MofCom) launched an anti-subsidy investigation into a targeted list of EU dairy products.
The details: MofCom will investigate whether 13 country-specific and seven EU-wide dairy subsidy schemes have unfairly distorted trade.

The probe targets fresh and proc...

sources

MofCom: 商务部公告2024年第34号关于对原产于欧盟的进口相关乳制品进行反补贴立案调查的公告

Reuters: China opens anti-subsidy probe into EU dairy imports in pushback against EV tariffs

Politico: China hits back at electric vehicle tariffs with probe into EU dairy

August 22, 2024

Central government consolidates oversight of market access

Central policymakers are sick of local officials imposing ad hoc restrictions on market access. On Wednesday, the general offices of the Party Central Committee and the State Council released guidelines on optimizing the market access mechanism. Top of the agenda: Enforcing strict implementation of …

Central policymakers are sick of local officials imposing ad hoc restrictions on market access.
On Wednesday, the general offices of the Party Central Committee and the State Council released guidelines on optimizing the market access mechanism.
Top of the agenda: Enforcing strict implementation of ...

sources

Gov.cn: 中共中央办公厅国务院办公厅关于完善市场准入制度的意见

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