string(13) "markets-macro"

Macro

July 10, 2024

AI deployment goes local

Beijing will likely apply restrictions on the deployment of AI models over data security concerns. On Wednesday, CCTV-affiliated blog Yuyuan Tantian highlighted the data security risks associated with using OpenAI’s services. The gist of it: OpenAI can’t be trusted. The company has clo… Username Password Remember Me Forgot Password

Beijing will likely apply restrictions on the deployment of AI models over data security concerns.
On Wednesday, CCTV-affiliated blog Yuyuan Tantian highlighted the data security risks associated with using OpenAI’s services.
The gist of it: OpenAI can’t be trusted.

The company has clo...

sources

Yuyuan Tantian: CIA、NSA插手OpenAI，意欲何为？

July 10, 2024

The NDA gets real about the digital economy

Who benefits from a size exaggeration? The National Data Administration (NDA) released the 2023 edition of the Digital China Development Report last week. Some context: The cyber administration (CAC) produced the report until last year when it turned over responsibility for the Digital China initiat…

Who benefits from a size exaggeration?
The National Data Administration (NDA) released the 2023 edition of the Digital China Development Report last week.
Some context: The cyber administration (CAC) produced the report until last year when it turned over responsibility for the Digital China initiat...

sources

NDA: 《数字中国发展报告(2023年)》全文

July 9, 2024

NEVs close in on 50% domestic market share

New energy vehicles (NEV) remain the bright spot in China’s struggling domestic auto market. But dismal conventional auto sales are getting worse – and NEV growth is no longer enough to prop up the market. The China Passenger Car Association’s (CPCA) June retail sales data, published Tuesday, show…

New energy vehicles (NEV) remain the bright spot in China's struggling domestic auto market.

But dismal conventional auto sales are getting worse – and NEV growth is no longer enough to prop up the market.

The China Passenger Car Association's (CPCA) June retail sales data, published Tuesday, show...

sources

CE.cn: 上半年乘用车零售增长3.3%，全年有望突破2200万辆

July 9, 2024

Auto export growth favors fuel vehicles

China’s passenger auto exports maintained strong growth in June. Unlike the domestic market, when it comes to exports, conventional autos are driving growth. The China Passenger Car Association’s (CPCA) June export data, released Tuesday, shows: June passenger auto exports hit 378,000 units, up…

China's passenger auto exports maintained strong growth in June.

Unlike the domestic market, when it comes to exports, conventional autos are driving growth.

The China Passenger Car Association’s (CPCA) June export data, released Tuesday, shows:

June passenger auto exports hit 378,000 units, up...

sources

CE.cn: 上半年乘用车零售增长3.3%，全年有望突破2200万辆

July 9, 2024

SASAC launches special fund to revitalize SOE land holdings

Authorities want state-owned enterprises (SOEs) to better utilize existing land assets. On Friday, the state-owned asset administrator (SASAC) launched an RMB 30 billion special fund to help SOEs revitalize their underutilized land assets. The fund was jointly set up by China Chengtong Holdings Gro…

Authorities want state-owned enterprises (SOEs) to better utilize existing land assets.
On Friday, the state-owned asset administrator (SASAC) launched an RMB 30 billion special fund to help SOEs revitalize their underutilized land assets.

The fund was jointly set up by China Chengtong Holdings Gro...

sources

China Securities Journal: 300亿！国有企业土地资产盘活专项基金成立

The Paper: 国有企业土地资产盘活专项基金成立，中央企业被要求上报盘活试点项目

July 9, 2024

PBoC moves swiftly to remake monetary transactions

China’s central bank (PBoC) is wasting no time in implementing its new interest rate regime. The latest: On Monday, the PBoC announced it will soon begin undertaking new overnight bond repo and reverse repo transactions. These interventions will take place each afternoon from 4:00pm to 4:20pm. The…

China’s central bank (PBoC) is wasting no time in implementing its new interest rate regime.
The latest: On Monday, the PBoC announced it will soon begin undertaking new overnight bond repo and reverse repo transactions.

These interventions will take place each afternoon from 4:00pm to 4:20pm.

The...

sources

PBoC: 公开市场业务公告［2024］第3号

The Paper: 央行新动作！将视情况开展临时正逆回购操作，收窄利率走廊宽度

Bloomberg: China’s Central Bank Takes More Control Over Rates by Adding Temporary Repos

July 9, 2024

Vibes-based diplomacy

On Monday, Xi Jinping met with Hungarian Prime Minister Viktor Orbán in Beijing. Some context: The pair recently met in May, during Xi’s European tour, when they elevated Sino-Hungarian ties to the level of All-Weather Comprehensive Strategic Partnership for the New Era. Orbán wanted to talk to Xi a…

On Monday, Xi Jinping met with Hungarian Prime Minister Viktor Orbán in Beijing.
Some context: The pair recently met in May, during Xi’s European tour, when they elevated Sino-Hungarian ties to the level of All-Weather Comprehensive Strategic Partnership for the New Era.
Orbán wanted to talk to Xi a...

sources

Xinhua: Xi meets Hungarian prime minister, exchanging views on ties, Ukraine crisis

Reuters: Hungary's Orban unexpectedly visits China, backs Xi's peace plan

July 9, 2024

Tax administration fails to reassure private sector

On Friday, Hu Jinglin, head of China’s State Administration for Taxation (SAT), published a front-page op-ed in the Central Party School’s Study Times. Some context: In recent months, several Chinese companies have reported of local governments ordering them to pay millions in back taxes, spooking b…

On Friday, Hu Jinglin, head of China's State Administration for Taxation (SAT), published a front-page op-ed in the Central Party School's Study Times.
Some context: In recent months, several Chinese companies have reported of local governments ordering them to pay millions in back taxes, spooking b...

sources

BJD: 国家税务总局局长胡静林：高质量推进中国式现代化税务实践

July 9, 2024

Shanghai takes another step toward unmanned taxis

Look, ma! No hands! On Thursday, Shanghai officials announced the first batch of licenses for fully unmanned taxis. The lucky companies include Baidu, SAIC, Pony.ai, and Auto X. Some context: Shanghai has been testing autonomous vehicles – including taxi services – for some time, with testing zone…

Look, ma! No hands!
On Thursday, Shanghai officials announced the first batch of licenses for fully unmanned taxis.

The lucky companies include Baidu, SAIC, Pony.ai, and Auto X.

Some context: Shanghai has been testing autonomous vehicles – including taxi services – for some time, with testing zone...

sources

Yicai: 无人驾驶更近一步！上海首批许可发布，交通大模型如何赋能车路云

WSJ: China Allows Robotaxis Without Operators in Shanghai

July 9, 2024

Beijing backs biotech

Beijing is getting serious about supporting the biotech industry. On Friday, the State Council approved a highly anticipated action plan to support innovative drug development. The full text isn’t out yet. According to the State Council’s brief readout, support measures will cove…

Beijing is getting serious about supporting the biotech industry.
On Friday, the State Council approved a highly anticipated action plan to support innovative drug development.

The full text isn't out yet.

According to the State Council's brief readout, support measures will cove...

sources

People.cn: 李强主持召开国务院常务会议

Caixin: 订阅电邮创新药久违大涨，聚焦全链条支持利好｜医药股周报

July 9, 2024

Vehicle-road-cloud pilot cities announced

One pilot to rule them all. On Wednesday, the industrial ministry (MIIT) announced the list of cities that will participate in a vehicle-road-cloud smart infrastructure project. MIIT announced the program back in January. 18 municipalities and two multi-city consortiums are taking part in the pilo…

One pilot to rule them all.
On Wednesday, the industrial ministry (MIIT) announced the list of cities that will participate in a vehicle-road-cloud smart infrastructure project.

MIIT announced the program back in January.

18 municipalities and two multi-city consortiums are taking part in the pilo...

sources

MIIT: 五部门关于公布智能网联汽车“车路云一体化”应用试点城市名单的通知

MIIT: 智能网联汽车“车路云一体化”应用试点工作问答

July 9, 2024

Li Qiang plugs the digital economy at the State Council

Promoting the digital economy is top of mind for Premier Li Qiang. At Friday’s State Council meeting, Li called for digital technology to “fully empower economic and social development,” through: Integrating digital technology into the real economy Supporting core ICT industries and the digital tra…

Integrating digital technology into the real economy
Supporting core ICT industries and the digital tra...

sources

People.cn: 李强主持召开国务院常务会议

Yicai: 国常会再提完善数据基础制度，制造业数字化转型加速

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