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Macro

June 25, 2024

ICYMI: Foreign affairs roundup

You know what they say: Geopolitics is what happens when you’re busy writing up other developments. With that in mind, here’s a smattering of the other stuff that’s mattering: Last Tuesday, representatives of the Chinese and South Korean foreign and defense ministries met for diplomatic and secur… Username Password Remember Me Forgot Password

You know what they say:

Geopolitics is what happens when you’re busy writing up other developments.

With that in mind, here’s a smattering of the other stuff that’s mattering:

Last Tuesday, representatives of the Chinese and South Korean foreign and defense ministries met for diplomatic and secur...

sources

SCMP: In ‘2+2’ talks, China and South Korea agree to push for more ‘political trust’

Gov.cn: Chinese, Belgian leaders meet on promoting bilateral ties

Reuters: US, China hold high-level talks on anti-narcotics cooperation

CGTN: Chinese, Nigerian FMs hold talks, attend 1st plenary session of inter-governmental committee

CGTN: Chinese premier meets Vietnamese PM

June 25, 2024

The National Science and Technology Conference

China just threw a gigantic tech party. On Monday, the Great Hall of the People in Beijing hosted a back-to-back sci-tech conference extravaganza that encompassed: The National Science and Technology Conference (NSTC) The National Highest Science and Technology Award Conference The bi-annual …

China just threw a gigantic tech party.
On Monday, the Great Hall of the People in Beijing hosted a back-to-back sci-tech conference extravaganza that encompassed:

The National Science and Technology Conference (NSTC)
The National Highest Science and Technology Award Conference
The bi-annual ...

sources

People.cn: 在全国科技大会、国家科学技术奖励大会、两院院士大会上的讲话

People.cn: 全国科技大会国家科学技术奖励大会两院院士大会在京召开

China Reform: 江泽民：努力实施科教兴国的战略

CAS: 胡锦涛在全国科学技术大会上的讲话（全文）

June 25, 2024

Beijing quietly curbs fertilizer exports

China is stepping up export controls on key fertilizers again. According to a Bloomberg scoop on Monday, new export controls on urea went into effect in early June. Extra inspections of outbound phosphate cargo have also reportedly come into place. ICYDK: China is the world’s third-largest exporte…

China is stepping up export controls on key fertilizers again.
According to a Bloomberg scoop on Monday, new export controls on urea went into effect in early June.

Extra inspections of outbound phosphate cargo have also reportedly come into place.

ICYDK: China is the world's third-largest exporte...

sources

Bloomberg: China Imposes More Fertilizer Export Controls to Protect Farmers

Reuters: Asian fertiliser buyers turn away from key exporter China amid growing curbs

MofCom: 2024年化肥进口关税配额总量、分配原则及相关程序

June 25, 2024

PBoC wants to boost foreign investment in bonds

The central bank (PBoC) hopes to attract more foreign investment into China’s domestic bond market. On Friday, the PBoC Financial Markets Department’ Party branch published an essay stating that the central bank intends to make the bond market: “A more friendly investment and financing environment …

The central bank (PBoC) hopes to attract more foreign investment into China’s domestic bond market.
On Friday, the PBoC Financial Markets Department' Party branch published an essay stating that the central bank intends to make the bond market:

“A more friendly investment and financing environment ...

sources

CSRC: 坚定不移推进债券市场高水平对外开放助力加快建设金融强国

June 25, 2024

Mainland exchanges resume IPO reviews

Regulators are reopening the A-share IPO pipeline. On Friday, the Beijing Stock Exchange accepted IPO applications from three companies, ending a three-month IPO review freeze (The Paper). The day before, the Shanghai and Shenzhen Stock Exchanges each accepted one IPO application, the first for eac…

Regulators are reopening the A-share IPO pipeline.
On Friday, the Beijing Stock Exchange accepted IPO applications from three companies, ending a three-month IPO review freeze (The Paper).

The day before, the Shanghai and Shenzhen Stock Exchanges each accepted one IPO application, the first for eac...

sources

The Paper: 三大交易所全面恢复IPO受理、审核，北交所新增受理三单申请

EY: A-share IPOs remain curbed in the short term; Hong Kong IPO market has shown signs of rebound, filings seeing significant increase

Reuters: Chinese venture capitalists warn IPO freeze will hit innovation

CSRC: 证监会发布《关于严格执行退市制度的意见》

June 25, 2024

CSRC wants a brighter STAR

The securities regulator (CSRC) wants the Science and Technology Innovation Board (STAR Market) to play a greater role in funding innovative firms. ICYDK: The STAR Market – a sub-board of the Shanghai Stock Exchange – was launched in 2019 as China’s answer to Nasdaq. It focuses on listing firms wit…

The securities regulator (CSRC) wants the Science and Technology Innovation Board (STAR Market) to play a greater role in funding innovative firms.
ICYDK: The STAR Market – a sub-board of the Shanghai Stock Exchange – was launched in 2019 as China’s answer to Nasdaq.

It focuses on listing firms wit...

sources

CSRC: 证监会发布《关于深化科创板改革服务科技创新和新质生产力发展的八条措施》

CSRC: 中国证监会关于深化科创板改革服务科技创新和新质生产力发展的八条措施

June 25, 2024

CAC’s supreme data security confidence

China’s system for securing cross-border data flows not only works, it’s superior. That’s the argument put forth in an article co-authored by Zuo Xiaodong in the recent issue of CAC’s magazine. ICYDK: Zuo is one of the key architects of China’s cross-border data security framework. The piece focus…

ICYDK: Zuo is one of the key architects of China’s cross-border data security framework.

The piece focus...

sources

CAC: 吴梦婷左晓栋：全球数据跨境流动安全治理的中国贡献

June 25, 2024

Lingang negative list on the way?

Positive, negative, or both? Last month, the Shanghai government quietly announced that a cross-border data negative list for the Lingang Free Trade Zone (FTZ) has been drafted. It’s accompanied by new draft rules governing cross-border data flows. Some context: In May, the Lingang and Tianjin FTZ…

Positive, negative, or both?
Last month, the Shanghai government quietly announced that a cross-border data negative list for the Lingang Free Trade Zone (FTZ) has been drafted.

It’s accompanied by new draft rules governing cross-border data flows.

Some context: In May, the Lingang and Tianjin FTZ...

sources

Shanghai FTZ: 对浦东新区七届人大四次会议第 074168 号代表建议的答复

CAC: 上海：促进数据依法有序自由流动助力高水平改革开放和高质量发展

June 24, 2024

Henan uses SPBs to refinance hidden debt

Local authorities may have a new tool to manage their debts. On Wednesday, the Henan provincial government said it plans to issue RMB 52 billion of special-purpose bonds (SPBs) to “refinance existing debts” (Caixin). The information was disclosed in the province’s credit rating report, although lat…

Local authorities may have a new tool to manage their debts.
On Wednesday, the Henan provincial government said it plans to issue RMB 52 billion of special-purpose bonds (SPBs) to “refinance existing debts” (Caixin).

The information was disclosed in the province’s credit rating report, although lat...

sources

Caixin: 河南拟发520亿元新增专项债券用于化解存量债务化债政策或有突破

Caixin Global: Province’s Bond Plan Signals Beijing May Be Expanding Hidden-Debt Toolkit

June 24, 2024

Housing ministry offers more guidelines on property buyback scheme

Central authorities want local officials to expedite the property buyback program. At a video conference on Thursday, housing ministry (MoHURD) officials instructed local governments at the county level or above to (CCTV): “Quickly establish a working mechanism…to acquire and convert unsold commerc…

Central authorities want local officials to expedite the property buyback program.
At a video conference on Thursday, housing ministry (MoHURD) officials instructed local governments at the county level or above to (CCTV):

“Quickly establish a working mechanism…to acquire and convert unsold commerc...

sources

CCTV: 住建部：加快推动收购存量商品房用作保障房

June 24, 2024

US proposes rules on controlling outbound investment

The US is one step closer to restricting investment in China’s tech sector. On Friday, The US Treasury Department released draft rules implementing an August 2023 executive order on controlling US investment in Chinese tech industries, including in chips, quantum computing, and AI. The rules …

The US is one step closer to restricting investment in China’s tech sector.
On Friday, The US Treasury Department released draft rules implementing an August 2023 executive order on controlling US investment in Chinese tech industries, including in chips, quantum computing, and AI.

The rules ...

sources

US Treasury: Treasury Issues Proposed Rule to Implement Executive Order Addressing U.S. Investments in Certain National Security Technologies and Products in Countries of Concern

Caixin: 美国要求出资方禁止或调查对华投资芯片、量子计算和AI

June 24, 2024

New legal guidelines vow harsh punishment for advocates of Taiwanese independence

Beijing wants to put the fear of god into advocates for Taiwanese independence. On Friday, the Supreme People’s Court and the Supreme People’s Procuratorate issued guidelines to thwart Taiwanese separatism. Three other ministries joined in the announcement. ICYMI: Cross-strait tensions have escala…

Three other ministries joined in the announcement.

ICYMI: Cross-strait tensions have escala...

sources

SPP: 最高人民法院最高人民检察院公安部国家安全部司法部关于依法惩治“台独”顽固分子分裂国家、煽动分裂国家犯罪的意见

FT: China threatens death penalty for Taiwan ‘separatists’

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