string(13) "markets-macro"

Macro

March 19, 2024

NDRC to optimize New Areas for sci-tech competitiveness

On Friday, the macro-planning agency (NDRC) announced high-level plans to beef up the development of China’s “New Areas”. Some background: New Areas are officially designated economic development zones. There are 19 New Areas in total, including Pudong New Area in Shanghai, Xiong’an New Area in He… Username Password Remember Me Forgot Password

On Friday, the macro-planning agency (NDRC) announced high-level plans to beef up the development of China's "New Areas".
Some background: New Areas are officially designated economic development zones.

There are 19 New Areas in total, including Pudong New Area in Shanghai, Xiong'an New Area in He...

sources

NDRC: 促进国家级新区高质量建设行动计划

NDRC: 国家发展改革委有关负责同志就《促进国家级新区高质量建设行动计划》答记者问

NDRC: 专家解读之二｜做大做强国家级新区示范引领区域经济高质量发展

STDaily: 国家发展改革委发布《行动计划》，增强国家级新区科技和产业竞争力

March 18, 2024

A friend in need is a friend indeed

China’s African hearts and minds campaign rolls on. On Friday, Xi Jinping welcomed Angolan President João Lourenço to Beijing. Some context: A major oil producer, Angola is trying to diversify its economy away from crude and toward priority sectors like agriculture and mining. Xi was happy to help (…

China’s African hearts and minds campaign rolls on.
On Friday, Xi Jinping welcomed Angolan President João Lourenço to Beijing.
Some context: A major oil producer, Angola is trying to diversify its economy away from crude and toward priority sectors like agriculture and mining.
Xi was happy to help (...

sources

MoFA: 习近平同安哥拉总统洛伦索会谈

Xinhua: China to grant zero-tariff treatment to 6 least-developed African countries

Reuters: China's Xi willing to work with Angola as it moves on from oil

March 18, 2024

All about implementation

The State Council is placing a special emphasis on policy implementation this year. On Friday, Premier Li Qiang held a plenary session of the State Council devotedly entirely to policy implementation. Specifically, the session was held to study and implement: “Xi Jinping’s important speeches made a…

The State Council is placing a special emphasis on policy implementation this year.
On Friday, Premier Li Qiang held a plenary session of the State Council devotedly entirely to policy implementation.
Specifically, the session was held to study and implement:

"Xi Jinping's important speeches made a...

sources

Gov.cn: 李强主持召开国务院第四次全体会深入学习贯彻习近平总书记在全国"两会"期间的重要讲话精神对落实国务院2024年重点工作进行部署

March 18, 2024

Greener zones for green growth

The Party wants to use environmental concerns to drive economic development. On Sunday, the Party Central Committee and the State Council jointly released guidelines on managing ecological zones, including their role in driving economic activity. The all-important Central Commission for Comprehensi…

The Party wants to use environmental concerns to drive economic development.
On Sunday, the Party Central Committee and the State Council jointly released guidelines on managing ecological zones, including their role in driving economic activity.

The all-important Central Commission for Comprehensi...

sources

Gov.cn: 中共中央办公厅国务院办公厅关于加强生态环境分区管控的意见

Gov.cn: 加强生态环境分区管控为发展“明底线”“划边框”——生态环境部有关负责人就关于加强生态环境分区管控的意见答记者问

March 18, 2024

Property price slump continues

Housing demand continues to fall. According to the stats bureau’s (NBS) monthly survey of home prices in 70 cities, published Friday: In February, average new home prices fell 0.36% m/m, improving marginally from a 0.37% decline in January. In secondhand markets, prices dropped 0.62% m/m, slightly …

Housing demand continues to fall.
According to the stats bureau’s (NBS) monthly survey of home prices in 70 cities, published Friday:

In February, average new home prices fell 0.36% m/m, improving marginally from a 0.37% decline in January.
In secondhand markets, prices dropped 0.62% m/m, slightly ...

sources

NBS: 2024年2月份70个大中城市商品住宅销售价格变动情况

NBS: 国家统计局城市司统计师王中华解读2024年2月份商品住宅销售价格变动情况统计数据

Bloomberg: China Home Price Slump Persists Even as Support Mounts

China Index Academy: 2024年2月居民置业意愿调研报告

March 18, 2024

Chinese consumption remains sluggish in early 2024

Retail sales in China have started off 2024 on a more sluggish note than the headline consumption figures suggest. Per data released by the stats bureau (NBS) on Monday, retail sales grew 5.5% y/y in the combined Jan-Feb period. However, on a seasonally-adjusted monthly basis, they grew just 0.17% a…

Retail sales in China have started off 2024 on a more sluggish note than the headline consumption figures suggest.
Per data released by the stats bureau (NBS) on Monday, retail sales grew 5.5% y/y in the combined Jan-Feb period.
However, on a seasonally-adjusted monthly basis, they grew just 0.17% a...

sources

CEIC: CEIC database

March 18, 2024

China’s industrial engine surged in Jan-Feb

Chinese economic activity was strong in the first two months of 2024, driven by supply-side factors. Per data for the combined January-February period, released by the stats bureau (NBS) on Monday: Industrial value added (IVA) grew by 7% y/y, up from 6.8% in December Fixed asset investment (FAI) gr…

Chinese economic activity was strong in the first two months of 2024, driven by supply-side factors.
Per data for the combined January-February period, released by the stats bureau (NBS) on Monday:

Industrial value added (IVA) grew by 7% y/y, up from 6.8% in December
Fixed asset investment (FAI) gr...

sources

CEIC: CEIC database

March 18, 2024

CSRC seeks to build trust in A-shares

The securities regulator (CSRC) wants to boost public trust in A-shares by improving corporate governance. The latest: On Friday, the CSRC issued four documents to redress some of the stock markets’ failings and clean up widespread abuses. The first document imposes controls over which companies can…

The securities regulator (CSRC) wants to boost public trust in A-shares by improving corporate governance.
The latest: On Friday, the CSRC issued four documents to redress some of the stock markets’ failings and clean up widespread abuses.
The first document imposes controls over which companies can...

sources

CSRC: 证监会集中发布《关于严把发行上市准入关从源头上提高上市公司质量的意见（试行）》等四项政策文件

SCIO: 国新办举行解读强监管防风险推动资本市场高质量发展有关政策新闻发布会图文实录

CSRC: 证监会修订实施《首次公开发行股票并上市辅导监管规定》

CSRC: 证监会发布实施《首发企业现场检查规定》

CSRC: 证监会落实政治过硬能力过硬作风过硬标准全面从严加强自身建设

March 18, 2024

PBoC drains liquidity as government bond prices rise

After months of pumping liquidity into the financial system, the central bank (PBoC) is starting to shift gear. The details: On Friday, the PBoC drained a net RMB 94 billion of liquidity using the medium-term lending facility (MLF). The PBoC lent out RMB 387 billion of one-year MLF funds, but RMB 4…

After months of pumping liquidity into the financial system, the central bank (PBoC) is starting to shift gear.
The details: On Friday, the PBoC drained a net RMB 94 billion of liquidity using the medium-term lending facility (MLF).

The PBoC lent out RMB 387 billion of one-year MLF funds, but RMB 4...

sources

PBoC: 公开市场业务交易公告 [2024]第52号

March 16, 2024

Security standards for AI tell devs to ditch foreign models

Will Chinese developers be allowed to use foreign AI models? In early March, the cybersecurity technical standards body (TC260) finalized security requirements for ChatGPT-like tools. We covered the draft back in October. Recap: This document provides technical instructions for evaluating and secu…

Will Chinese developers be allowed to use foreign AI models?
In early March, the cybersecurity technical standards body (TC260) finalized security requirements for ChatGPT-like tools.

We covered the draft back in October.

Recap: This document provides technical instructions for evaluating and secu...

sources

TC260: 生成式人工智能服务安全基本要求

Secrss: 关于征求信安标委技术文件《生成式人工智能服务安全基本要求》（征求意见稿）意见的通知

March 16, 2024

China’s foreign AI model reliance problem

Innovators are concerned about China’s dependence on foreign open source large models. How we know: On Thursday, we told you that Premier Li Qiang had visited several tech companies and research institutes in Beijing. When state media reported on Li’s trip, the coverage included a picture of Li li…

Innovators are concerned about China's dependence on foreign open source large models.
How we know: On Thursday, we told you that Premier Li Qiang had visited several tech companies and research institutes in Beijing.

When state media reported on Li's trip, the coverage included a picture of Li li...

sources

Twitter: Kevin Xu - Twitter

March 16, 2024

The big book of tax breaks

If a tax break falls in the forest, but no companies take advantage of it, does it foster innovation? On Wednesday, the sci-tech ministry (MoST) released a giant document outlining all of the tax breaks and incentives to which innovators are entitled. The 175-page tome consolidates and explains pr…

If a tax break falls in the forest, but no companies take advantage of it, does it foster innovation?
On Wednesday, the sci-tech ministry (MoST) released a giant document outlining all of the tax breaks and incentives to which innovators are entitled.

The 175-page tome consolidates and explains pr...

sources

Ministry of Science and Technology: 我国支持科技创新主要税费优惠政策指引

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