string(13) "markets-macro"

Macro

March 13, 2024

Your money’s no longer no good here

Officials are making it easier for foreigners to travel in China. On Monday, Minister of Tourism and Culture Sun Yeli called for greater efforts to facilitate cashless payments for foreigners. That comes after the State Council released a document on Friday to improve foreigners’ access to mobile p… Username Password Remember Me Forgot… Read More »

Officials are making it easier for foreigners to travel in China.
On Monday, Minister of Tourism and Culture Sun Yeli called for greater efforts to facilitate cashless payments for foreigners.

That comes after the State Council released a document on Friday to improve foreigners’ access to mobile p...

sources

Gov.cn: Foreigners' tours in China to be more convenient: minister

Xinhua: China Hospitality Association urges greater convenience for global travelers

Gov.cn: 外国商务人士在华工作生活指引（2024年版）

CNN: Number of foreign visitors to China in 2023 down more than 60% from pre-pandemic levels

March 13, 2024

State Council approves plan to upgrade product standards

The government is making a push to upgrade consumer product standards. Tuesday’s State Council executive meeting – chaired by Premier Li Qiang – approved a plan to “support high-quality economic development through standards upgrading.” We saw this coming: The Government Work Report (GWR) delivered …

The government is making a push to upgrade consumer product standards.
Tuesday’s State Council executive meeting – chaired by Premier Li Qiang – approved a plan to “support high-quality economic development through standards upgrading.”
We saw this coming: The Government Work Report (GWR) delivered ...

sources

Gov.cn: 李强主持召开国务院常务会议讨论通过《国务院2024年重点工作分工方案》等

March 13, 2024

Saving Private Vanke

All hands are on deck to rescue private property developer Vanke from the brink of default. Some background: Stories proliferated this month that Vanke, China’s second-biggest developer by sales, has fallen into distress and may soon default. Vanke has dismissed the concerns, assuring people its “fi…

All hands are on deck to rescue private property developer Vanke from the brink of default.
Some background: Stories proliferated this month that Vanke, China’s second-biggest developer by sales, has fallen into distress and may soon default. Vanke has dismissed the concerns, assuring people its “fi...

sources

Bloomberg: China Vanke in Debt Swap Talks With Banks to Stave Off Default

Cailianshe: 独家|12家商业银行为万科筹资800亿？接近银行人士：有听说相关信息但目前银行方面态度保守

Reuters: China Vanke's shares, bonds jump after reassurance on operations, refinancing

March 13, 2024

Japanese auto firms rethink China market

Japanese automakers are weighing production capacity cuts in China as they fall behind domestic competitors. Per Nikkei’s reporting on Tuesday: Nissan is considering a 30% capacity reduction – cutting 480,000 vehicles per year Honda is considering a 20% capacity reduction – cutting 298,000 vehicles…

Japanese automakers are weighing production capacity cuts in China as they fall behind domestic competitors.
Per Nikkei's reporting on Tuesday:

Nissan is considering a 30% capacity reduction – cutting 480,000 vehicles per year
Honda is considering a 20% capacity reduction – cutting 298,000 vehicles...

sources

Nikkei: Nissan and Honda to cut China production as EV race heats up

March 13, 2024

More urban school spots for rural kids

Beijing wants migrant children to enjoy greater access to education. At Tuesday’s State Council executive meeting, Premier Li Qiang stressed: [We should] adapt to…the new urbanization process, anticipate and analyze the changing demands for compulsory education in advance, and enhance the flexibi…

Beijing wants migrant children to enjoy greater access to education.
At Tuesday's State Council executive meeting, Premier Li Qiang stressed:

[We should] adapt to...the new urbanization process, anticipate and analyze the changing demands for compulsory education in advance, and enhance the flexibi...

sources

Gov.cn: 李强主持召开国务院常务会议讨论通过《国务院2024年重点工作分工方案》等

March 13, 2024

Two Sessions wrap: Our six big questions answered – and then some

The annual meetings of China’s legislature (NPC) and political advisory body (CPPCC), collectively referred to as the “Two Sessions,” took place from March 4 to 11. Before the Two Sessions began, we noted there were six big questions we would track as the events unfolded: Will Beijing dow…

The annual meetings of China’s legislature (NPC) and political advisory body (CPPCC), collectively referred to as the “Two Sessions,” took place from March 4 to 11.
Before the Two Sessions began, we noted there were six big questions we would track as the events unfolded:

Will Beijing dow...

March 13, 2024

IP rules for data assets still in the works

On Monday, the closing day of the Two Sessions, director of the China National Intellectual Property Administration (CNIPA) gave a media interview on his agency’s plans for the coming year. The money quote: Shen indicated that in 2024, CNIPA will: “[E]xplore the establishment of data intellectual p…

On Monday, the closing day of the Two Sessions, director of the China National Intellectual Property Administration (CNIPA) gave a media interview on his agency's plans for the coming year.
The money quote: Shen indicated that in 2024, CNIPA will:

"[E]xplore the establishment of data intellectual p...

sources

China Securities Journal: 国家知识产权局局长申长雨：探索建立数据知识产权保护规则

March 13, 2024

The TikTok divestment bill isn’t going over well

The latest US effort to force a divestment of TikTok has not been well-received in China. Recap: On Tuesday, a House bill was introduced that would force ByteDance to divest TikTok or face a nationwide ban. The bill is expected to go to a vote this week, and appears likely the pass the House. Bide…

The bill is expected to go to a vote this week, and appears likely the pass the House.
Bide...

sources

Huanqiu: 沈逸：强制剥离TikTok，美国衰败的又一例证

March 13, 2024

State agencies join forces to push policy support to SMEs

On Friday, the industrial ministry (MIIT) and 18 other agencies jointly launched a campaign to boost whole-of-government support for small- and medium-sized enterprises (SMEs). What caught our eye: This campaign is specifically geared towards the needs of specialized SMEs in innovative tech fields. …

On Friday, the industrial ministry (MIIT) and 18 other agencies jointly launched a campaign to boost whole-of-government support for small- and medium-sized enterprises (SMEs).
What caught our eye: This campaign is specifically geared towards the needs of specialized SMEs in innovative tech fields. ...

sources

Gov.cn: 工业和信息化部等18部门办公厅（室）关于开展2024年“一起益企”中小微企业服务行动的通知

March 12, 2024

Vanke is too important to fail

On Saturday, the housing (MoHURD) minster, Ni Hong, said some troubled developers should go bust. Evidently, Vanke is not on his list: On Monday, Reuters reported that the State Council has directed unnamed banks to step up credit support for the developer. It has also reportedly advised some credi…

On Saturday, the housing (MoHURD) minster, Ni Hong, said some troubled developers should go bust.
Evidently, Vanke is not on his list: On Monday, Reuters reported that the State Council has directed unnamed banks to step up credit support for the developer.

It has also reportedly advised some credi...

sources

Reuters: Exclusive: Chinese regulators ask large banks to step up support for Vanke

March 12, 2024

Exports still driving China’s auto market growth

China’s auto export growth is dramatically outpacing domestic sales growth. Per China Association of Automobile Manufacturers (CAAM) data released Monday, in February: Domestic auto production and sales fell 25.9% and 19.9% y/y, respectively. Auto exports rose 14.7%. Importantly, however, much…

China's auto export growth is dramatically outpacing domestic sales growth.
Per China Association of Automobile Manufacturers (CAAM) data released Monday, in February:

Domestic auto production and sales fell 25.9% and 19.9% y/y, respectively.

Auto exports rose 14.7%.

Importantly, however, much...

sources

Caixin: 1月2月汽车出口83.1万辆同比增长超2成

EastMoney: 2月汽车产销双降出口增逾14%成亮点

Bloomberg: EU Moves Toward Hitting China With Tariffs on Electric Vehicles

March 12, 2024

China will definitely fix the cross-border data mess (at some point)

The Two Sessions didn’t offer up much on the government’s intentions for smoothing cross-border data transfers. The Government Work Report, delivered March 5, gave a one-line ray of hope that the issue is at least on the agenda: “Steps will be taken to resolve issues such as cross-border flows of&n…

The Two Sessions didn't offer up much on the government's intentions for smoothing cross-border data transfers.
The Government Work Report, delivered March 5, gave a one-line ray of hope that the issue is at least on the agenda:

“Steps will be taken to resolve issues such as cross-border flows of&n...

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