string(13) "markets-macro"

Macro

August 13, 2024

More LGFVs default on commercial paper in July

The number of LGFVs listed as serial CAD defaulters increased for the third consecutive month in July, reaching 78 in total after plateauing earlier this year. That indicates local government financing vehicles (LGFVs) are under increasing financial pressure. Refresher: CADs are tradable, non-inte… Username Password Remember Me Forgot Password

The number of LGFVs listed as serial CAD defaulters increased for the third consecutive month in July, reaching 78 in total after plateauing earlier this year.

That indicates local government financing vehicles (LGFVs) are under increasing financial pressure.

Refresher: CADs are tradable, non-inte...

sources

SHCPE: 截至2024年7月31日承兑人逾期名单

SHCPE: 截至2024年7月31日持续逾期名单

August 13, 2024

Development first

Beijing doesn’t want regulation to undermine innovation. During an interview with Xinhua on Monday, Zhuang Rongwen, director of the cybersecurity regulator (CAC), laid out his plan for generative AI regulations. Zhuang dedicated the first part of the interview to AI development. His message:…

Beijing doesn't want regulation to undermine innovation.
During an interview with Xinhua on Monday, Zhuang Rongwen, director of the cybersecurity regulator (CAC), laid out his plan for generative AI regulations.

Zhuang dedicated the first part of the interview to AI development.

His message:...

sources

CAC: 深化网信领域改革以网信事业高质量发展助力中国式现代化——访中央网信办主任庄荣文

August 13, 2024

Party to increase demotions in effort to improve work performance

The Party wants to improve cadres’ work performance. On Monday, the People’s Daily published an editorial by Li Ganjie, head of the Party’s HR department, discussing Third Plenum reforms to the Party’s personnel system. TL;DR: Li’s telling cadres to shape up or ship out. Specifically, Li said offici…

The Party wants to improve cadres' work performance.
On Monday, the People’s Daily published an editorial by Li Ganjie, head of the Party’s HR department, discussing Third Plenum reforms to the Party’s personnel system.
TL;DR: Li's telling cadres to shape up or ship out.
Specifically, Li said offici...

sources

Xinhua: 李干杰：深化党的建设制度改革

August 13, 2024

Beijing ditches stalled rural homestead mortgage pilots

The central government has quietly abandoned pilots allowing rural folks to mortgage their homesteads. On Monday, Caixin flagged the development in the context of the legal complexity and political sensitivity of rural homestead rights reform. The crux of the issue: Under the Civil Code, only rural…

The central government has quietly abandoned pilots allowing rural folks to mortgage their homesteads.
On Monday, Caixin flagged the development in the context of the legal complexity and political sensitivity of rural homestead rights reform.
The crux of the issue: Under the Civil Code, only rural...

sources

Caixin: 宅基地使用权抵押改革何去何从相关议案已终止审议

August 13, 2024

Power cuts will not be returning this summer

Despite scorching heat waves, China will get through another summer without power outages. Since late July, the Yangtze River Delta – China’s most economically important region – and other powerhouse provinces have experienced severe heat waves. Many cities have recorded temperatures above 35 degre…

Despite scorching heat waves, China will get through another summer without power outages.
Since late July, the Yangtze River Delta – China's most economically important region – and other powerhouse provinces have experienced severe heat waves.

Many cities have recorded temperatures above 35 degre...

August 13, 2024

Ministry of Finance announces government accounting software overhaul

The Ministry of Finance (MoF) wants to bring the government out of the fintech Dark Ages. ICYMI: In June, China’s Accounting Law was revised. The revision, which will come into effect in July 2025, has kicked off a whole-of-government accounting digitization effort. To that end, on Wednesday, the …

The Ministry of Finance (MoF) wants to bring the government out of the fintech Dark Ages.
ICYMI: In June, China's Accounting Law was revised.

The revision, which will come into effect in July 2025, has kicked off a whole-of-government accounting digitization effort.

To that end, on Wednesday, the ...

sources

Ministry of Finance: 关于印发《会计软件基本功能和服务规范》的通知

Ministry of Finance: 关于印发《会计信息化工作规范》的通知

August 13, 2024

National online ID pilot app launches

China is moving ahead with its national online ID system, despite public concerns. On Thursday, Caixin reported that the pilot version of China’s national identity app has launched in several domestic app stores. The app is primarily run by the Ministry of Public Security (MPS), China’s police fo…

China is moving ahead with its national online ID system, despite public concerns.
On Thursday, Caixin reported that the pilot version of China's national identity app has launched in several domestic app stores.

The app is primarily run by the Ministry of Public Security (MPS), China's police fo...

sources

Caixin: 网络身份认证App使用多项第三方技术如何保障数据安全

August 13, 2024

US moves closer to restricting Chinese de minimis imports

The US plan for regulating imports from Chinese e-commerce platforms is solidifying. On Thursday, Senate lawmakers introduced The Fighting Illicit Goods, Helping Trustworthy Importers, and Netting Gains (FIGHTING) for America Act. The bill would tighten restrictions on imported goods that benefit …

The US plan for regulating imports from Chinese e-commerce platforms is solidifying.
On Thursday, Senate lawmakers introduced The Fighting Illicit Goods, Helping Trustworthy Importers, and Netting Gains (FIGHTING) for America Act.

The bill would tighten restrictions on imported goods that benefit ...

sources

WSJ: U.S. Lawmakers Move to Restrict Trade Provision Favored by China’s E-Commerce Giants

Senate.gov: FIGHTING for America Act of 2024: Section-by-Section Analysis and Explanation

Senate.gov: FIGHTING for America Act of 2024 Chairman Ron Wyden (D-OR)

US Congress: H.R.7979 - End China’s De Minimis Abuse Act

August 12, 2024

New guidance on China’s green transition charts course for reform

China’s leadership just articulated their vision for building a greener economy and society. That vision is outlined in a high-level guidance on the “comprehensive green transformation of economic and social development” from the Party Central Committee and the State Council that dropped Sunday. Som…

China's leadership just articulated their vision for building a greener economy and society.
That vision is outlined in a high-level guidance on the "comprehensive green transformation of economic and social development" from the Party Central Committee and the State Council that dropped Sunday.
Som...

sources

Gov.cn: 中共中央国务院关于加快经济社会发展全面绿色转型的意见

Gov.cn: 深入推进绿色低碳发展——国家发展改革委负责人就《关于加快经济社会发展全面绿色转型的意见》答记者问

August 12, 2024

Top officials throw support behind green consumption and procurement

Green products will have an edge in the Chinese market. On Sunday, the Party Central Committee and State Council released guidance on greening the Chinese economy and society, including efforts to boost supply and demand of green products. Some context: The recently concluded Third Plenum stressed t…

Green products will have an edge in the Chinese market.
On Sunday, the Party Central Committee and State Council released guidance on greening the Chinese economy and society, including efforts to boost supply and demand of green products.
Some context: The recently concluded Third Plenum stressed t...

sources

Gov.cn: 中共中央国务院关于加快经济社会发展全面绿色转型的意见

Gov.cn: 深入推进绿色低碳发展——国家发展改革委负责人就《关于加快经济社会发展全面绿色转型的意见》答记者问

August 12, 2024

Tell it to the judge

China is taking the EU to court over its tariffs on Chinese EVs. On Friday, the Ministry of Commerce (MofCom) announced that it had filed a complaint with the World Trade Organization’s (WTO) dispute settlement mechanism over the EU’s tariffs on Chinese-made electric vehicles. Some context: In June,…

China is taking the EU to court over its tariffs on Chinese EVs.
On Friday, the Ministry of Commerce (MofCom) announced that it had filed a complaint with the World Trade Organization’s (WTO) dispute settlement mechanism over the EU’s tariffs on Chinese-made electric vehicles.
Some context: In June,...

sources

MofCom: 商务部新闻发言人就中方在世贸组织起诉欧盟电动汽车临时反补贴措施答记者问

AP: China files WTO complaint against EU over tariffs on electric vehicles

August 12, 2024

Beijing signals aggressive decarbonization drive

Decarbonization remains at the top of the energy policy agenda. Some context: Energy security superseded decarbonization as the top policy priority in late 2021 after insufficient coal production triggered a crippling power crunch. China’s energy security has drastically improved since then. In 202…

Decarbonization remains at the top of the energy policy agenda.
Some context: Energy security superseded decarbonization as the top policy priority in late 2021 after insufficient coal production triggered a crippling power crunch.

China's energy security has drastically improved since then. In 202...

sources

Gov.cn: 中共中央国务院关于加快经济社会发展全面绿色转型的意见

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