string(13) "markets-macro"

Macro

April 23, 2024

CSRC strives to build public trust

The fees that mutual funds charge are about to fall as part of the securities regulator’s (CSRC) efforts to build trust in the stock market. The latest: On Friday, the CSRC issued rules to reduce the commission rates funds charge on stock market transactions. The rules – which take effect July 1 – … Username… Read More »

The fees that mutual funds charge are about to fall as part of the securities regulator’s (CSRC) efforts to build trust in the stock market.

The latest: On Friday, the CSRC issued rules to reduce the commission rates funds charge on stock market transactions.
The rules – which take effect July 1 – ...

sources

CSRC: 证监会制定发布《公开募集证券投资基金证券交易费用管理规定》

April 23, 2024

Chinese regulators order removal of select foreign apps from App Store

On Friday, Reuters reported that the Chinese cyberspace regulator (CAC) has ordered Apple to remove some foreign messaging apps from China-facing App Stores. Apple has complied. Removed apps include privacy-protected messaging apps Telegram and Signal, as well as Meta-owned WhatsApp and Threads. …

On Friday, Reuters reported that the Chinese cyberspace regulator (CAC) has ordered Apple to remove some foreign messaging apps from China-facing App Stores.

Apple has complied.

Removed apps include privacy-protected messaging apps Telegram and Signal, as well as Meta-owned WhatsApp and Threads.

...

sources

Reuters: Apple pulls WhatsApp, Threads from China app store after Beijing order

April 23, 2024

TikTok divestment bill passes House (again)

On Saturday, the US House of Representatives passed an amended version of the bill that requires TikTok to divest from parent company ByteDance or face a nationwide ban. Recap: Last week, Speaker of the House Mike Johnson bundled the modified bill into a vote on foreign aid for Taiwan, Ukraine, and…

On Saturday, the US House of Representatives passed an amended version of the bill that requires TikTok to divest from parent company ByteDance or face a nationwide ban.
Recap: Last week, Speaker of the House Mike Johnson bundled the modified bill into a vote on foreign aid for Taiwan, Ukraine, and...

sources

Bloomberg: TikTok Divest-or-Ban Bill Expected to Become US Law in Days

WSJ: U.S.-China Internet War Intensifies as House Passes TikTok Ban

April 23, 2024

MofCom dangles new carrots for foreign tech investors

On Friday, the Ministry of Commerce (MofCom) and nine other departments released new measures to support foreign investment in China’s tech sector. Some background: China needs fresh foreign capital to invigorate its tech sector, particularly in the wake of the outbound investment restrictions…

On Friday, the Ministry of Commerce (MofCom) and nine other departments released new measures to support foreign investment in China’s tech sector.
Some background: China needs fresh foreign capital to invigorate its tech sector, particularly in the wake of the outbound investment restrictions...

sources

MofCom: 商务部等十部门联合印发《关于进一步支持境外机构投资境内科技型企业的若干政策措施》

April 22, 2024

Mexico boxes out Chinese NEV production

Chinese new energy vehicle (NEV) producers are getting the cold shoulder from Mexico. On April 18, Reuters scooped that the Mexican government is excluding Chinese companies from domestic NEV investment incentives. The catalyst: Pressure from the US, which fears Chinese manufacturers are trying to…

Chinese new energy vehicle (NEV) producers are getting the cold shoulder from Mexico.

On April 18, Reuters scooped that the Mexican government is excluding Chinese companies from domestic NEV investment incentives.

The catalyst: Pressure from the US, which fears Chinese manufacturers are trying to...

sources

Reuters: Exclusive: Mexico, facing US pressure, will halt incentives to Chinese EV makers

April 22, 2024

Localities still under debt strain

Local governments need more support to deal with their debt obligations. The number of local government financing vehicles (LGFVs) that defaulted on commercial acceptance drafts (CAD) increased in March. Refresher: CADs are tradable, zero-coupon IOUs with a fixed maturity of six months or less (se…

Local governments need more support to deal with their debt obligations.

The number of local government financing vehicles (LGFVs) that defaulted on commercial acceptance drafts (CAD) increased in March.

Refresher: CADs are tradable, zero-coupon IOUs with a fixed maturity of six months or less (se...

sources

SHCPE: 截至2024年3月31日承兑人逾期名单

SHCPE: 截至2024年3月31日持续逾期名单

April 22, 2024

PBoC Governor says China’s economy is looking up

Central bank (PBoC) Governor Pan Gongsheng wants the world to know things are looking up for China’s economy. In a speech at an International Monetary Fund (IMF) meeting held on Thursday and Friday, Pan said the performance of China’s economy has improved this year and is: “Laying a solid foundatio…

Central bank (PBoC) Governor Pan Gongsheng wants the world to know things are looking up for China’s economy.
In a speech at an International Monetary Fund (IMF) meeting held on Thursday and Friday, Pan said the performance of China’s economy has improved this year and is:

“Laying a solid foundatio...

sources

PBoC: 中国人民银行行长潘功胜出席第49届国际货币与金融委员会会议

April 22, 2024

Top diplomat Wang Yi visits Papua New Guinea

China is making inroads with Papua New Guinea (PNG). Top diplomat Wang Yi visited PNG’s capital, Port Moresby, over the weekend and met with PNG Foreign Minister Justin Tkachenko and Prime Minister James Marape. The two sides inked a bunch of cooperation agreements, spanning trade in cocoa and coff…

China is making inroads with Papua New Guinea (PNG).
Top diplomat Wang Yi visited PNG's capital, Port Moresby, over the weekend and met with PNG Foreign Minister Justin Tkachenko and Prime Minister James Marape.

The two sides inked a bunch of cooperation agreements, spanning trade in cocoa and coff...

sources

MoFA: 巴布亚新几内亚总理马拉佩会见王毅

MoFA: 王毅同巴布亚新几内亚外长特卡琴科举行会谈

Australian Broadcasting Corporation: China's Foreign Minister Wang Yi visits PNG, saying Pacific nations aren't 'the backyard' of other countries

Reuters: Papua New Guinea leader responds to Biden comment, saying nation undeserving of cannibalism label

April 22, 2024

Hey! Biden! Leave them ships alone!

Beijing has fired a warning shot across Washington’s bow. On Friday, the Ministry of Commerce announced new anti-dumping tariffs of up to 43.5% on imports of American propionic acid, a chemical additive used in animal feed, pesticides, and drug development. The new tariffs went into effect on Satur…

Beijing has fired a warning shot across Washington’s bow.
On Friday, the Ministry of Commerce announced new anti-dumping tariffs of up to 43.5% on imports of American propionic acid, a chemical additive used in animal feed, pesticides, and drug development.

The new tariffs went into effect on Satur...

sources

Reuters: China slaps anti-dumping levy on import of a US chemical amid rising trade tensions

WSJ: China Hits U.S. With Levy on Chemical as Trade Tensions Rise

SCMP: China trade body vows legal action over ‘unreasonable’ US Section 301 probe into Chinese shipbuilders, maritime firms

April 22, 2024

PLA creates new Information Support, Cyberspace, and Aerospace Forces

The People’s Liberation Army (PLA) is undergoing major changes. On Saturday, the People’s Daily reported that the Strategic Support Force (SSF) – established in 2015 – will be dissolved. The details: The SSF comprised three units, covering information, aerospace, and cybersecurity. Each…

The People’s Liberation Army (PLA) is undergoing major changes.
On Saturday, the People's Daily reported that the Strategic Support Force (SSF) – established in 2015 – will be dissolved.
The details:

The SSF comprised three units, covering information, aerospace, and cybersecurity.
Each...

sources

People's Daily: 中国人民解放军信息支援部队成立大会在京举行

Caixin: 人事观察｜信息支援部队成立毕毅李伟分任司令员政委

Xinhua: 揭秘我军首支战略支援部队:撑起全军体系的“信息伞”

April 22, 2024

Fewer pigs, more profits

The ag ministry’s (MARA) plan to stabilize the pig farming sector is working. Per MARA officials at a routine press conference on Friday: The breeding sow population is now 39.92 million – a decline of roughly 500,000 sows since the end of February and down 7.3% y/y. The number of piglets born in Q…

The ag ministry's (MARA) plan to stabilize the pig farming sector is working.
Per MARA officials at a routine press conference on Friday:

The breeding sow population is now 39.92 million – a decline of roughly 500,000 sows since the end of February and down 7.3% y/y.
The number of piglets born in Q...

sources

China Securities Journal: 事关农产品价格、猪价……农业农村部发声！

April 22, 2024

Environment ministry signals urgency of policy implementation

Environmental reforms aren’t progressing fast enough. That’s according to the Ministry of Ecology and Environment (MEE), which met on Tuesday to discuss progress on the 14th Five-Year Plan’s (FYP) major environmental projects. The official meeting readout called on officials to (MEE): Speed up the …

Environmental reforms aren't progressing fast enough.
That's according to the Ministry of Ecology and Environment (MEE), which met on Tuesday to discuss progress on the 14th Five-Year Plan’s (FYP) major environmental projects.
The official meeting readout called on officials to (MEE):

Speed up the ...

sources

MEE: 生态环境部召开推进“十四五”规划重大工程工作领导小组第四次会议

China Environment: 钟寰平：推动“十四五”规划生态环境领域重大工程加快实施

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