string(13) "markets-macro"

Macro

August 21, 2024

IPO delays forcing startup share buybacks

This could get ugly. Roughly 14,000 Chinese startups are in danger of being forced to buy back shares from their investors, according to estimates by Chinese law firm Lifeng Partners. ICYDK: China’s venture investments typically come with share buyback clauses that allow investors to redeem th… Username Password Remember Me Forgot Password

This could get ugly.
Roughly 14,000 Chinese startups are in danger of being forced to buy back shares from their investors, according to estimates by Chinese law firm Lifeng Partners.
ICYDK: China’s venture investments typically come with share buyback clauses that allow investors to redeem th...

sources

Caixin: 律所报告：上万家创业公司及创始人面临高额回购责任

August 20, 2024

Persistence with Vietnam pays off

China-Vietnam ties have come a long way since last year. On Monday, Xi Jinping met with the new general secretary of the Vietnamese Communist Party, Tô Lâm, in Beijing – the latter’s first foreign visit since becoming GenSec. Some context: Vietnam has been a major focus of Xi’s recent attention. Th…

China-Vietnam ties have come a long way since last year.
On Monday, Xi Jinping met with the new general secretary of the Vietnamese Communist Party, Tô Lâm, in Beijing – the latter’s first foreign visit since becoming GenSec.
Some context: Vietnam has been a major focus of Xi’s recent attention.

Th...

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Xinhua: Xi, Lam hold talks, guiding development of China-Vietnam community with shared future

Reuters: China and Vietnam sign 14 deals from rail to crocodiles after leaders meet

August 20, 2024

SAMR issues draft antitrust penalty guidelines

A regulator setting the rules for itself. What could go wrong? On Friday, the antitrust regulator (SAMR) released draft guidelines on administrative penalties for antitrust violations related to mergers and acquisitions. Some context: The amended Anti-Monopoly Law, passed in June 2022, cont…

A regulator setting the rules for itself.

What could go wrong?

On Friday, the antitrust regulator (SAMR) released draft guidelines on administrative penalties for antitrust violations related to mergers and acquisitions.
Some context: The amended Anti-Monopoly Law, passed in June 2022, cont...

sources

SAMR: 市场监管总局关于公开征求《违反〈中华人民共和国反垄断法〉实施经营者集中行政处罚裁量权基准（征求意见稿）》意见的公告

August 20, 2024

CSRC cracks down on securities firms

The securities regulator (CSRC) has ratcheted up oversight of securities brokerages. On Wednesday, Caixin reported that regulatory supervision of the sector has become significantly stricter since Wu Qing took over as CSRC chairman in February. Specifically, the CSRC has: Handed out more penalties…

The securities regulator (CSRC) has ratcheted up oversight of securities brokerages.
On Wednesday, Caixin reported that regulatory supervision of the sector has become significantly stricter since Wu Qing took over as CSRC chairman in February.
Specifically, the CSRC has:

Handed out more penalties...

sources

Caixin: In Depth: China Amps Up Scrutiny of Freewheeling Securities Firms

August 20, 2024

The PBoC wants you – to rent

China’s central bank (PBoC) thinks the economics that have discouraged house renting are changing. Some context: Housing prices have traditionally been so high relative to rents that most people with investment properties keep them empty, preferring to realize investment returns as capital gains rat…

China's central bank (PBoC) thinks the economics that have discouraged house renting are changing.
Some context: Housing prices have traditionally been so high relative to rents that most people with investment properties keep them empty, preferring to realize investment returns as capital gains rat...

sources

PBoC: 中国货币政策执行报告2024 年第二季度

August 20, 2024

SPB mismanagement persists

Local governments are struggling to find projects that can generate enough revenue to service special purpose bonds (SPBs). ICYDK: Local governments issue SPBs to fund infrastructure projects. The projects are supposed to generate sufficient income to cover the SPBs’ interest payments. In recent wee…

Local governments are struggling to find projects that can generate enough revenue to service special purpose bonds (SPBs).
ICYDK: Local governments issue SPBs to fund infrastructure projects. The projects are supposed to generate sufficient income to cover the SPBs’ interest payments.
In recent wee...

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Caixin: 地方审计披露部分专项债项目无收益平台执行政府指令增加债务风险

August 20, 2024

CNIPA outlines intellectual property policy plan for tech

Yup: Defining IP rules for future technologies is still on Beijing’s list of policy priorities. On Friday, the Party’s top theoretical journal published an essay by Shen Changyu, head of China’s intellectual property administration (CNIPA). The essay gave a high-level outline of key issues on CNIP…

Yup: Defining IP rules for future technologies is still on Beijing's list of policy priorities.
On Friday, the Party's top theoretical journal published an essay by Shen Changyu, head of China's intellectual property administration (CNIPA).

The essay gave a high-level outline of key issues on CNIP...

sources

Qiushi: 《求是》发表申长雨署名文章：进一步深化知识产权领域改革为中国式现代化提供有力支撑

August 20, 2024

Digital bridge to nowhere

Smart infrastructure doesn’t come cheap. Speaking at a conference on Saturday, Zhang Yongwei, vice chairman of the China EV100 forum, got real about the financial challenges of China’s vehicle-road-cloud plan. Some context: Back in January, the industrial ministry (MIIT) kicked off a national initia…

Smart infrastructure doesn’t come cheap.
Speaking at a conference on Saturday, Zhang Yongwei, vice chairman of the China EV100 forum, got real about the financial challenges of China’s vehicle-road-cloud plan.
Some context: Back in January, the industrial ministry (MIIT) kicked off a national initia...

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Caixin: 车路云一体化如何跑通商业闭环？专家建议挖掘应用场景

August 20, 2024

Shanghai sketches out low-altitude digital infrastructure

Shanghai is gearing up to commercialize low-altitude airspace. On Friday, the city issued guiding opinions for building communications, navigation & surveillance (CNS) infrastructure to support the low-altitude economy. Some context: Over the past three years, policymakers at the national…

Shanghai is gearing up to commercialize low-altitude airspace.
On Friday, the city issued guiding opinions for building communications, navigation & surveillance (CNS) infrastructure to support the low-altitude economy.
Some context: Over the past three years, policymakers at the national...

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Caixin: 上海将建设低空通信感知网络为飞行器管控提供基础

August 19, 2024

Premier Li tells officials to focus on consumption support

Premier Li Qiang is home from his summer holiday break, and back to discussing the economy. On Friday, Li chaired a State Council plenary session focused on boosting economic growth. At the session, Li signaled the government’s commitment to hitting its annual economic growth targets, while also ear…

Premier Li Qiang is home from his summer holiday break, and back to discussing the economy.
On Friday, Li chaired a State Council plenary session focused on boosting economic growth.
At the session, Li signaled the government's commitment to hitting its annual economic growth targets, while also ear...

sources

Xinhua: 李强主持召开国务院第五次全体会议强调以进一步全面深化改革为强大动力扎实做好各项工作坚定不移完成全年经济社会发展目标任务

August 19, 2024

PBoC talks interest rate reform

In its Q3 Monetary Policy Report, published August 9, China’s central bank (PBoC) explained some of the recent technical changes it’s made to interest rates. Some context: When the PBoC cut the interest rate on seven-day reverse repos on July 23, it also changed how the rate is set. Previously, pri…

In its Q3 Monetary Policy Report, published August 9, China's central bank (PBoC) explained some of the recent technical changes it’s made to interest rates.
Some context: When the PBoC cut the interest rate on seven-day reverse repos on July 23, it also changed how the rate is set.

Previously, pri...

sources

PBoC: 中国货币政策执行报告2024 年第二季度

August 19, 2024

PBoC committed to stable monetary policy

Central bank (PBoC) Governor Pan Gongsheng has signaled the PBoC intends to only make small adjustments to monetary policy in the months ahead. In an interview with state media on Thursday, Pan said when it comes to supporting the economy, monetary policy is focused on three things. The first is eng…

Central bank (PBoC) Governor Pan Gongsheng has signaled the PBoC intends to only make small adjustments to monetary policy in the months ahead.
In an interview with state media on Thursday, Pan said when it comes to supporting the economy, monetary policy is focused on three things.
The first is eng...

sources

Xinhua: 加快完善中央银行制度持续推动金融高质量发展——访中国人民银行党委书记、行长潘功胜

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