string(13) "markets-macro"

Macro

May 6, 2024

The marriage of Xigaro

Xi Jinping is making a last-ditch effort to avert a trade war with the EU. On Sunday, Xi arrived in Paris ahead of much-anticipated meetings with French President Emmanuel Macron and European Commission President Ursula von der Leyen (VDL). ICYMI: Over the past few months, the EU has released a bevy… Username Password Remember Me… Read More »

Xi Jinping is making a last-ditch effort to avert a trade war with the EU.
On Sunday, Xi arrived in Paris ahead of much-anticipated meetings with French President Emmanuel Macron and European Commission President Ursula von der Leyen (VDL).
ICYMI: Over the past few months, the EU has released a bevy...

sources

MoFA: 习近平在法国媒体发表署名文章

May 6, 2024

Chinese Steel production as inflexible as ever

China’s steel output keeps chugging along, despite weak demand. On Thursday, the China Iron and Steel Association (CISA) warned that: “Steel companies must…self-discipline to control production and reduce inventory.” True, but: Officials have been saying that for years, and steelmakers have yet to…

China’s steel output keeps chugging along, despite weak demand.
On Thursday, the China Iron and Steel Association (CISA) warned that:

“Steel companies must…self-discipline to control production and reduce inventory.”

True, but: Officials have been saying that for years, and steelmakers have yet to...

sources

The Paper: 中钢协：在当前的市场形势下，钢铁企业要坚持自律控产降库存

Mysteel: 2023年第一季度中国钢材及原料市场回顾及展望

April 30, 2024

March sets new auto export record

China’s passenger car exports hit a record high in March, driven by new energy vehicles (NEVs). According to the latest China Passenger Car Association (CPCA) data, in March, passenger vehicle exports hit: 406,000 total units – up 39% y/y and the highest-ever total 119,000 NEVs – up 70% y/y, giving…

China's passenger car exports hit a record high in March, driven by new energy vehicles (NEVs).
According to the latest China Passenger Car Association (CPCA) data, in March, passenger vehicle exports hit:

406,000 total units – up 39% y/y and the highest-ever total
119,000 NEVs – up 70% y/y, giving...

sources

STCN: 3月乘用车出口量创新高新能源贡献度近三成

April 30, 2024

NEVs keep passenger auto consumption afloat

China’s passenger vehicle sales are trucking along with steady growth, driven (as usual) by new energy vehicles (NEVs). According to the latest China Passenger Car Association (CPCA) data, domestic passenger car retail sales grew: 6% y/y in March, reaching 1.687 million units 13% y/y in Q1, reach…

China's passenger vehicle sales are trucking along with steady growth, driven (as usual) by new energy vehicles (NEVs).
According to the latest China Passenger Car Association (CPCA) data, domestic passenger car retail sales grew:

6% y/y in March, reaching 1.687 million units

13% y/y in Q1, reach...

sources

STCN: 3月乘用车出口量创新高新能源贡献度近三成

April 30, 2024

Creditors approve CIFI’s offshore restructuring plan

Debt-afflicted private developer CIFI Holdings Group has come to terms with its overseas creditors. In an exchange filing published Monday, the firm said a key creditor group has “in principle” approved its USD 7 billion debt restructuring plan. The group collectively holds 43% of the firm’s offsho…

Debt-afflicted private developer CIFI Holdings Group has come to terms with its overseas creditors.
In an exchange filing published Monday, the firm said a key creditor group has “in principle” approved its USD 7 billion debt restructuring plan.

The group collectively holds 43% of the firm’s offsho...

sources

HKEX: UPDATE ON THE HOLISTIC SOLUTION FOR OFFSHORE LIQUIDITY SITUATION AND BUSINESS DEVELOPMENT

Yicai: 旭辉已与债券持有人小组原则上达成一致，股价大涨超18%

Yicai: Chinese Developer CIFI Proposes to Halve USD7 Billion Offshore Debt

SCMP: Chinese property developer CIFI to offload Australian assets at a loss in bid to inject cash as credit dries up

April 30, 2024

Politburo looks to enhance property and local debt policies

China’s leaders don’t just want to see fiscal policy implementation sped up. At Tuesday’s Politburo meeting, they also highlighted other key policy measures they want to get rolling. Specifically, officials want to see: More active use of their industrial equipment upgrading and consumer trade-in…

China’s leaders don’t just want to see fiscal policy implementation sped up.

At Tuesday’s Politburo meeting, they also highlighted other key policy measures they want to get rolling.

Specifically, officials want to see:

More active use of their industrial equipment upgrading and consumer trade-in...

sources

Xinhua: 中共中央政治局召开会议决定召开二十届三中全会

April 30, 2024

April Politburo meeting calls for faster fiscal policy implementation

China’s senior leaders continue to be generally satisfied with the trajectory of the economy. But they also want the macro-support policies they’ve announced to be implemented more quickly. That was the key message from the April Politburo meeting, which took place on Tuesday. Some context: In the…

China’s senior leaders continue to be generally satisfied with the trajectory of the economy.

But they also want the macro-support policies they’ve announced to be implemented more quickly.

That was the key message from the April Politburo meeting, which took place on Tuesday.
Some context: In the...

sources

Xinhua: 中共中央政治局召开会议决定召开二十届三中全会

April 30, 2024

AI to a higher degree

China’s higher education system is coming to terms with generative AI. On Friday, the National People’s Congress Standing Committee (NPCSC) passed the Academic Degree Law. Some context: The global academic community has been struggling with how to respond to the advent of tools like ChatGPT. Instit…

China’s higher education system is coming to terms with generative AI.
On Friday, the National People’s Congress Standing Committee (NPCSC) passed the Academic Degree Law.
Some context: The global academic community has been struggling with how to respond to the advent of tools like ChatGPT.

Instit...

sources

MOE: 中华人民共和国学位法

April 30, 2024

Self-sufficiency doesn’t happen overnight

China has a lot of work to do if it wants to develop a domestic alternative to Nvidia. On Sunday, Zheng Weimin, member of the Chinese Academy of Engineering, said as much at a computer forum. Zheng laid out the challenges China faces in developing competitive domestic chips: Although companies li…

China has a lot of work to do if it wants to develop a domestic alternative to Nvidia.
On Sunday, Zheng Weimin, member of the Chinese Academy of Engineering, said as much at a computer forum.
Zheng laid out the challenges China faces in developing competitive domestic chips:

Although companies li...

sources

Caixin: GPT革命｜院士郑纬民：构建国产人工智能万卡系统很难但很有必要

April 30, 2024

Computing for the digital economy

Roll up your sleeves; its time to build the digital economy. On Monday, China’s macro planner (NDRC) and the National Data Administration (NDA) released a list of digital economy work tasks for 2024. ICYDK: The NDA was formed last year and sits directly under the NDRC. Some context: In 2022, China …

Roll up your sleeves; its time to build the digital economy.
On Monday, China’s macro planner (NDRC) and the National Data Administration (NDA) released a list of digital economy work tasks for 2024.
ICYDK: The NDA was formed last year and sits directly under the NDRC.
Some context: In 2022, China ...

sources

NDA: 国家发展改革委办公厅国家数据局综合司印发《数字经济2024年工作要点》

April 30, 2024

SOEs get in on AI

Turns out the state expects state-owned enterprises (SOEs) to advance state priorities. AI is no exception. On Sunday, Wang Hongzhi, deputy director of the SOE administrator (SASAC), urged SOEs to accelerate AI development: “Central SOEs and large local SOEs should accelerate the implementatio…

Turns out the state expects state-owned enterprises (SOEs) to advance state priorities.

AI is no exception.

On Sunday, Wang Hongzhi, deputy director of the SOE administrator (SASAC), urged SOEs to accelerate AI development:

“Central SOEs and large local SOEs should accelerate the implementatio...

sources

SASAC: 新华社：中央企业要加快实施“AI+”专项行动

April 30, 2024

Politburo schedules Third Plenum for July

It’s finally happening. On Tuesday, just before the country takes off for the May Day holiday, the Politburo announced that the Central Committee’s Third Plenum will take place in July. This is a big deal: The Plenum is expected to unveil a new round of sweeping economic reforms, similar to the pack…

It’s finally happening.
On Tuesday, just before the country takes off for the May Day holiday, the Politburo announced that the Central Committee’s Third Plenum will take place in July.
This is a big deal: The Plenum is expected to unveil a new round of sweeping economic reforms, similar to the pack...

sources

Xinhua: 中共中央政治局召开会议决定召开二十届三中全会

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