string(13) "markets-macro"

Macro

April 3, 2024

More bark than bite

Beijing is making a big deal out of Washington’s most recent export control updates. ICYMI: On Friday, the US Commerce Department revised its export controls on China’s chip sector. No significant new restrictions were introduced. The revisions were primarily clarifications of existing rules. Bu… Username Password Remember Me Forgot Password

Beijing is making a big deal out of Washington’s most recent export control updates.
ICYMI: On Friday, the US Commerce Department revised its export controls on China’s chip sector.

No significant new restrictions were introduced.
The revisions were primarily clarifications of existing rules.

Bu...

sources

MofCom: 商务部新闻发言人就美国修订半导体出口管制措施有关问题答记者问

Caixin: 美国细化“限芯” 中国和俄罗斯为“假定拒绝”

April 2, 2024

Infrastructure investment across China’s provinces diverges

Wealthy Chinese provinces are juicing infrastructure investment, even as poor ones scale back. That’s according to local government bond issuance data for March. The highlight: In an effort to boost infrastructure investments, local governments issued RMB 230.7 billion new special-purpose bonds (…

Wealthy Chinese provinces are juicing infrastructure investment, even as poor ones scale back.

That’s according to local government bond issuance data for March.

The highlight:

In an effort to boost infrastructure investments, local governments issued RMB 230.7 billion new special-purpose bonds (...

sources

The Paper: 观债｜3月发行新增专项债超2307亿元，近七成投向市政和产业区基础设施

April 2, 2024

Lithium producers fall prey to oversupply-driven price plunge

Lithium producers’ profits are tumbling as prices fall amid slowing battery demand growth. The latest: According to recently published data, in 2023: China’s top lithium salt producer, Ganfeng Lithium, saw net profits fall nearly 76% y/y China’s other top lithium dog, Tianqi Lithium, saw net profit…

Lithium producers' profits are tumbling as prices fall amid slowing battery demand growth.
The latest: According to recently published data, in 2023:

China's top lithium salt producer, Ganfeng Lithium, saw net profits fall nearly 76% y/y
China's other top lithium dog, Tianqi Lithium, saw net profit...

sources

Caixin Global: Lithium Miners Profits Plunge as Oversupply Rattles Industry

April 2, 2024

Home prices grow, but property market still in a pickle

China’s March property data paints a mixed picture for the ailing sector. The good news: Per data published by China Real Estate Information Corp on Monday, the value of new home sales in March grew 93% m/m, compared to a 20.9% m/m drop in February (Bloomberg). ICYDK: home sales are typically stron…

China's March property data paints a mixed picture for the ailing sector.
The good news: Per data published by China Real Estate Information Corp on Monday, the value of new home sales in March grew 93% m/m, compared to a 20.9% m/m drop in February (Bloomberg).

ICYDK: home sales are typically stron...

sources

Bloomberg: China Home Sales Drought Persists With Little Recovery Sign

Reuters: China's new home prices rise at fastest pace in over 2-1/2 years, survey shows

April 2, 2024

Chinese QE debate is a red herring

China’s central bank (PBoC) is not about to embark on a push into quantitative easing (QE). That’s our firm take, after wading through the onshore debate on the topic, which has grown in intensity over the last week among Chinese economists. Some context: The QE debate kicked off after an October …

China’s central bank (PBoC) is not about to embark on a push into quantitative easing (QE).

That’s our firm take, after wading through the onshore debate on the topic, which has grown in intensity over the last week among Chinese economists.

Some context: The QE debate kicked off after an October ...

sources

SCMP: Xi Jinping to China’s central bank: restart treasury-bond trade, after 2-decade hiatus

Bloomberg: Xi’s Cryptic Bond Comments Hint at PBOC Becoming More Like Fed

CF40: 假如央行开始在公开市场操作中增加国债购买

Yicai: 国际投行称中国不会实施QE，6月前后或跟随美联储降息

Weixin: 央行下场买国债？赤字货币化或将到来

April 2, 2024

Advisory body launches regular symposium on improving business environment

China has created a promising new channel for foreign companies to influence policy. On Friday, the political advisory body (CPPCC) held its first bi-weekly consultative symposium on improving the business environment. The symposium’s goal is to “promote the construction of a rule-based business env…

China has created a promising new channel for foreign companies to influence policy.
On Friday, the political advisory body (CPPCC) held its first bi-weekly consultative symposium on improving the business environment.
The symposium's goal is to "promote the construction of a rule-based business env...

sources

CPPCC: 力促更优法治化营商环境赋能高质量发展全国政协“推进法治化营商环境建设”双周协商座谈会综述

April 2, 2024

Indonesia’s President-elect Prabowo visits Beijing

Indonesia’s new President-elect, Prabowo Subianto, won’t rock the boat with China. On Monday, Prabowo met with Xi Jinping and top diplomat Wang Yi in Beijing on his first trip as the incoming President. Prabowo’s election was confirmed less than two weeks ago, and he won’t be sworn in until October…

Indonesia's new President-elect, Prabowo Subianto, won't rock the boat with China.
On Monday, Prabowo met with Xi Jinping and top diplomat Wang Yi in Beijing on his first trip as the incoming President.

Prabowo's election was confirmed less than two weeks ago, and he won't be sworn in until October...

sources

Gov.cn: 习近平同印度尼西亚当选总统普拉博沃会谈

China News: 普拉博沃为何打破惯例访华？专家称此行释放积极信号

April 2, 2024

Stamping out online hostility

If you don’t like it, report it. That’s the advice the cybersecurity watchdog (CAC) has for foreign companies struggling with a hostile online environment. Some context: Last year, the CAC launched a campaign to stamp out harmful misinformation about businesses and entrepreneurs, inclu…

If you don’t like it, report it.

That’s the advice the cybersecurity watchdog (CAC) has for foreign companies struggling with a hostile online environment.

Some context: Last year, the CAC launched a campaign to stamp out harmful misinformation about businesses and entrepreneurs, inclu...

sources

CAC: 中央网信办部署开展“清朗·优化营商网络环境—整治涉企侵权信息乱象”专项行动

April 2, 2024

China and France hold more meetings to hash out differences

Beijing is still trying to persuade the EU not to pursue de-risking. On Monday, Premier Li Qiang and top diplomat Wang Yi both met separately with France’s new foreign minister, Stéphane Séjourné, in Beijing. This marks the fourth time top leaders from the two countries have spoken since November. …

This marks the fourth time top leaders from the two countries have spoken since November.
...

sources

MoFA: 李强会见法国外长塞茹尔内

MoFA: 王毅同法国外长塞茹尔内举行会谈

AP: France presses China on trade and Ukraine ahead of upcoming Xi Jinping visit

April 2, 2024

Nothing beats biaozhun

Regulators think China should have higher standards. On March 18, eighteen departments including the cyberspace administration (CAC) and industry ministry (MIIT) co-released the “Action Plan for Implementing the National Standardization Development Outline (2024-2025).” Some background: The action p…

Regulators think China should have higher standards.
On March 18, eighteen departments including the cyberspace administration (CAC) and industry ministry (MIIT) co-released the “Action Plan for Implementing the National Standardization Development Outline (2024-2025).”
Some background: The action p...

sources

China Big Data Industry Observation: 关系6G、人工智能等，最新行动计划！18部门联合印发

Gov.cn: 十八部门联合印发《贯彻实施〈国家标准化发展纲要〉行动计划（2024—2025年）》

Baijiahao: 统筹推进标准化提升

April 2, 2024

Putting patents to work

China’s push to take inventory of its patents is picking up speed. On March 19, the intellectual property administration (CNIPA) promoted the ongoing effort to commercialize Chinese universities and research institutions’ dormant intellectual property (IP) at an event in Zhejiang province. Local CN…

China's push to take inventory of its patents is picking up speed.
On March 19, the intellectual property administration (CNIPA) promoted the ongoing effort to commercialize Chinese universities and research institutions' dormant intellectual property (IP) at an event in Zhejiang province.

Local CN...

sources

CNIPA: 高校和科研机构存量专利盘活工作现场推进活动在浙江举办

MofCom: 4.6万件！浙江正在唤醒更多存量专利

April 2, 2024

US honing in on national security threats from Chinese biotech

The US is becoming an increasingly hostile market for Chinese tech companies. The latest: On Thursday, Reuters reported that US intelligence officials briefed lawmakers in late February about national security threats posed by Chinese biotech firms, including WuXi AppTec. The company is accu…

The US is becoming an increasingly hostile market for Chinese tech companies.
The latest: On Thursday, Reuters reported that US intelligence officials briefed lawmakers in late February about national security threats posed by Chinese biotech firms, including WuXi AppTec.

The company is accu...

sources

Reuters: Exclusive: China's WuXi AppTec shared US client's data with Beijing, US intelligence officials told senators

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