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Macro

May 7, 2024

China has a new health chief

Lei Haichao, 56, has been promoted to Party secretary of the National Health Commission (NHC). His predecessor, Ma Xiaowei, 64, stepped down after reaching retirement age. ICYDK: The NHC is China’s top health authority, responsible for formulating and coordinating health-related policies. Lei is… Username Password Remember Me Forgot Password

Lei Haichao, 56, has been promoted to Party secretary of the National Health Commission (NHC).

His predecessor, Ma Xiaowei, 64, stepped down after reaching retirement age.

ICYDK: The NHC is China's top health authority, responsible for formulating and coordinating health-related policies.
Lei is...

sources

NHC: 雷海潮国家卫生健康委员会党组书记

May 6, 2024

Lawmakers aim to better combat data fraud

Lawmakers are clamping down on data fraud. On April 26, the legislature (NPCSC) concluded deliberations on draft amendments to the Statistics Law. ICYDK: Adopted in 1983, the Statistics Law was revised in 1996 and again in 2009. The amendments: Clarify that local officials cannot order or coerce su…

Lawmakers are clamping down on data fraud.
On April 26, the legislature (NPCSC) concluded deliberations on draft amendments to the Statistics Law.
ICYDK: Adopted in 1983, the Statistics Law was revised in 1996 and again in 2009.
The amendments:

Clarify that local officials cannot order or coerce su...

sources

NPC: 法律草案征求意见列表

May 6, 2024

Data is the new… land?

Who needs land sales when you have data assets? On May 4, Chinese domestic news outlet Economic Observer reported on the fascinating new trend of local government data asset mining. Some context: Regular Tech Daily readers will know that China has wholeheartedly bought in to the idea of the data eco…

Who needs land sales when you have data assets?
On May 4, Chinese domestic news outlet Economic Observer reported on the fascinating new trend of local government data asset mining.
Some context: Regular Tech Daily readers will know that China has wholeheartedly bought in to the idea of the data eco...

sources

Economic Observer: 经观头条｜地不好卖了，“数据城投”跑步进场

May 6, 2024

Turning on the taps

On April 30, the Bank of China (BoC) and the Ministry of Water Resources (MWR) announced financial support for water conservation efforts. The headline: The BoC will provide RMB 200 billion of preferential loans to fund eligible water conservation projects. Provincial MWR and BoC branches are taske…

On April 30, the Bank of China (BoC) and the Ministry of Water Resources (MWR) announced financial support for water conservation efforts.
The headline: The BoC will provide RMB 200 billion of preferential loans to fund eligible water conservation projects.

Provincial MWR and BoC branches are taske...

sources

MWR: 水利部中国银行关于金融支持节水产业高质量发展的指导意见

May 6, 2024

Uniting the Yangtze River Delta

On April 30, the Politburo reviewed new guidelines to promote integration of the wealthy Yangtze River Delta (YRD). ICYDK: The YRD refers to Shanghai, Zhejiang, Jiangsu, and Anhui provinces. The region’s GDP surpassed RMB 30 trillion in 2023, accounting for around one fourth of the national economy….

On April 30, the Politburo reviewed new guidelines to promote integration of the wealthy Yangtze River Delta (YRD).
ICYDK: The YRD refers to Shanghai, Zhejiang, Jiangsu, and Anhui provinces. The region’s GDP surpassed RMB 30 trillion in 2023, accounting for around one fourth of the national economy....

sources

Xinhua: 中共中央政治局召开会议决定召开二十届三中全会分析研究当前经济形势和经济工作审议《关于持续深入推进长三角一体化高质量发展若干政策措施的意见》中共中央总书记习近平主持会议

May 6, 2024

Big-picture AI strategy at the NPC

How does China win the AI race? On April 26, the National People’s Congress (NPC), China’s legislature, heard a special lecture on China’s AI and intelligent computing development path. The speaker was Sun Ninghui, a prominent computer scientist at the Chinese Academy of Engineering and lead develo…

How does China win the AI race?
On April 26, the National People’s Congress (NPC), China’s legislature, heard a special lecture on China’s AI and intelligent computing development path.

The speaker was Sun Ninghui, a prominent computer scientist at the Chinese Academy of Engineering and lead develo...

sources

NPC: 十四届全国人大常委会专题讲座第十讲讲稿：人工智能与智能计算的发展

May 6, 2024

Localization vs. centralization

China’s sci-tech policymaking may be less centralized than we thought. Henan and Inner Mongolia have recently set up provincial sci-tech committees, according to local media reports. The committees are essentially local outposts of the Central Commission for Science and Technology (CCST). Why t…

China’s sci-tech policymaking may be less centralized than we thought.
Henan and Inner Mongolia have recently set up provincial sci-tech committees, according to local media reports.

The committees are essentially local outposts of the Central Commission for Science and Technology (CCST).

Why t...

sources

Zhengzhijian: 楼阳生、王凯一同出席！这一省级机构，首次对外亮相

Gov.cn: 省委科技委第一次会议召开

Gov.cn: 王莉霞主持召开党委金融委员会和科技委员会会议

May 6, 2024

April PMIs point to growing domestic demand

Demand for factory goods in China is finally growing. That’s our main takeaway from the April manufacturing PMI readings, released by the stats bureau (NBS) and Caixin last week. Quick refresher: PMIs give a snapshot of business conditions based on survey responses. A reading above 50 indicates e…

Demand for factory goods in China is finally growing.

That’s our main takeaway from the April manufacturing PMI readings, released by the stats bureau (NBS) and Caixin last week.

Quick refresher: PMIs give a snapshot of business conditions based on survey responses.

A reading above 50 indicates e...

sources

Stats.gov.cn: 2024年4月中国采购经理指数运行情况

S&P Global: 财新中国通用制造业PMI新闻稿

May 6, 2024

Home sales fall again

Here’s a shocker: China’s slump in housing demand continued in April. On April 30, China Real Estate Information Corp (CRIC) published its monthly survey of home sales data from China’s top 100 developers. The headlines: In April, new home sales fell 12.9% m/m, following a 93% m/m increase in March…

Here's a shocker: China's slump in housing demand continued in April.
On April 30, China Real Estate Information Corp (CRIC) published its monthly survey of home sales data from China’s top 100 developers.
The headlines:

In April, new home sales fell 12.9% m/m, following a 93% m/m increase in March...

sources

CRIC: 2024年1-4月中国房地产企业销售TOP100排行榜

Caixin: 百强房企4月销售额同比下降45% 拿地审慎致使土地市场降温

May 6, 2024

Homebuyers, assemble

Homebuying restrictions in China may soon become a thing of the past. In recent weeks, local authorities in: Beijing allowed existing homeowners to purchase an additional apartment in the city’s outer districts. Tianjin removed purchase restrictions on apartments exceeding 120 square meters. Provin…

Homebuying restrictions in China may soon become a thing of the past.
In recent weeks, local authorities in:

Beijing allowed existing homeowners to purchase an additional apartment in the city’s outer districts.
Tianjin removed purchase restrictions on apartments exceeding 120 square meters.
Provin...

sources

Securities Times: 13年来首次，北京限购松绑！

21st Century Biz: 视频｜天津取消本地户籍120平以上新房限购，支持北京、河北居民在津购房

21st Century Biz: 成都全面取消住房限购，全国已有约35城限购放松

CCTV: 全面取消住房限购！湖南长沙楼市“以旧换新”政策落地

CCTV: 取消限购、买房落户……楼市政策“加减法”接连出台

May 6, 2024

Not a great holiday

Expenditure during the Labor Day holiday was disappointing. Per data released by the Ministry of Culture and Tourism (MCT) on Monday, across the five-day Labor Day break: 295 million people traveled domestically – up 7.6% y/y, and up 28.2% from 2019 pre-pandemic levels. Total spending hit RMB 166.8…

Expenditure during the Labor Day holiday was disappointing.
Per data released by the Ministry of Culture and Tourism (MCT) on Monday, across the five-day Labor Day break:

295 million people traveled domestically – up 7.6% y/y, and up 28.2% from 2019 pre-pandemic levels.
Total spending hit RMB 166.8...

sources

The Paper: 五一国内旅游出游2.95亿人次，国内游客总花费1668.9亿

May 6, 2024

Vanke’s survival plan

The chairman of property developer Vanke shared his plan on how the company will resolve debt risks at a shareholder meeting on April 30 (Yicai). Some context: Vanke, China’s second-biggest developer by 2023 sales, has fallen into financial distress, raising concerns of imminent default. The State …

The chairman of property developer Vanke shared his plan on how the company will resolve debt risks at a shareholder meeting on April 30 (Yicai).
Some context: Vanke, China’s second-biggest developer by 2023 sales, has fallen into financial distress, raising concerns of imminent default.

The State ...

sources

Yicai: 万科股东大会透露新的战略计划，未来聚焦三大主业

Bloomberg: Vanke to Exit Non-Core Business, Divest Assets for Liquidity

EastMoney: 万科郁亮：退出非主业未来五年负债降低一半以上

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