string(13) "markets-macro"

Macro

April 15, 2025

Quzhou city acquires controlling stake in struggling local solar manufacturing champion DAS Solar

Local governments are taking over struggling solar manufacturers en masse to prevent their homegrown champions from collapsing. On Friday, the Quzhou city government in Zhejiang province acquired a 17.46% stake in solar module maker DAS Solar from state-owned energy giant China Three Gorges (CTG). … Username Password Remember Me Forgot Password

Local governments are taking over struggling solar manufacturers en masse to prevent their homegrown champions from collapsing.
On Friday, the Quzhou city government in Zhejiang province acquired a 17.46% stake in solar module maker DAS Solar from state-owned energy giant China Three Gorges (CTG).

...

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STCN: IPO终止8个月后光伏新势力一道新能将被衢州国资接盘

April 15, 2025

Agricultural commodities giant ADM slashes China presence, shuts down local trading operations

One of the world’s largest commodities traders is dramatically scaling back its China operations. On Monday, Archer Daniels Midland (ADM) announced it will stop trading on Chinese domestic exchanges and confirmed that layoffs are underway. ADM will reportedly keep a skeleton crew in place in China …

One of the world's largest commodities traders is dramatically scaling back its China operations.
On Monday, Archer Daniels Midland (ADM) announced it will stop trading on Chinese domestic exchanges and confirmed that layoffs are underway.

ADM will reportedly keep a skeleton crew in place in China ...

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Reuters: ADM halting domestic trading in China, cutting jobs in Shanghai

Bloomberg: ADM Exits China Crop Trading Amid ‘Challenging Environment’

April 15, 2025

Xi Jinping talks up economic connectivity during Vietnam visit

Xi Jinping thinks every day should be a beautiful day in the neighborhood. On Monday, Xi arrived in Hanoi for his second state visit to Vietnam in two years – as part of a three-country Southeast Asia tour. Some context: Xi’s making the trip against the backdrop of – what else? – the US-China trade… Read More »

Xi Jinping thinks every day should be a beautiful day in the neighborhood.
On Monday, Xi arrived in Hanoi for his second state visit to Vietnam in two years – as part of a three-country Southeast Asia tour.
Some context: Xi’s making the trip against the backdrop of – what else? – the US-China trade ...

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Xinhua: Full text of Xi's signed article in Vietnamese newspaper

Xinhua: Xi calls for deepening building of China-Vietnam community with shared future

Reuters: China, Vietnam sign deals as Xi visits Hanoi amid US tariff tensions

April 15, 2025

Credit growth accelerates in March

Credit growth ticked up in March, led by a big increase in government bond issuance. Per data released by the central bank (PBoC) on Sunday, outstanding total social financing (TSF) grew 8.4% y/y last month, up from 8.2% in February. Outstanding RMB loans grew 7.4% y/y, up slightly from 7.3% in Feb…

Credit growth ticked up in March, led by a big increase in government bond issuance.
Per data released by the central bank (PBoC) on Sunday, outstanding total social financing (TSF) grew 8.4% y/y last month, up from 8.2% in February.

Outstanding RMB loans grew 7.4% y/y, up slightly from 7.3% in Feb...

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PBoC: 2025年3月社会融资规模存量统计数据报告

PBoC: 2025年一季度社会融资规模增量统计数据报告

April 15, 2025

EU and China discuss EV price floors to replace tariffs

On April 10, the EU Commission confirmed it is in discussions with Beijing about replacing tariffs on Chinese electric vehicles (EVs) with a minimum price policy. ICYDK: In October, the EU introduced tariffs on Chinese EV imports of up to 35.3% – on top of an existing 10% duty. Beijing has since be…

On April 10, the EU Commission confirmed it is in discussions with Beijing about replacing tariffs on Chinese electric vehicles (EVs) with a minimum price policy.
ICYDK: In October, the EU introduced tariffs on Chinese EV imports of up to 35.3% – on top of an existing 10% duty.

Beijing has since be...

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Reuters: EU, China will look into setting minimum prices on electric vehicles, EU says

April 14, 2025

China’s imports continue to plummet

China’s export growth surged in March – but the data is less than meets the eye. Per data released by the customs bureau (GAC) on Monday, throughout March: Exports in USD terms rose 12.4% y/y, up from 2.3% growth in January and February. Imports fell 4.3% y/y, compared to an 8.4% decline over the p…

China’s export growth surged in March – but the data is less than meets the eye.
Per data released by the customs bureau (GAC) on Monday, throughout March:

Exports in USD terms rose 12.4% y/y, up from 2.3% growth in January and February.
Imports fell 4.3% y/y, compared to an 8.4% decline over the p...

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SCIO: 国新办举行经济数据例行新闻发布会介绍2025年一季度进出口情况图文实录

April 14, 2025

Beijing expands pilots to support trade and investment

China wants to further integrate itself into the global economy. On Friday, the commerce ministry (MofCom) announced a countrywide rollout of initiatives to improve logistics and customs efficiency, previously tested in pilot regions. These include: Packaging and transporting imported and domestic …

China wants to further integrate itself into the global economy.
On Friday, the commerce ministry (MofCom) announced a countrywide rollout of initiatives to improve logistics and customs efficiency, previously tested in pilot regions. These include:

Packaging and transporting imported and domestic ...

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MofCom: 商务部等9部门关于复制推广国家服务业扩大开放综合试点示范经验的通知

Gov.cn: 国务院关于《加快推进服务业扩大开放综合试点工作方案》的批复

April 14, 2025

Adverse duties make strange bedfellows

Beijing is wasting no time in improving relations with Europe. Xi Jinping met with Spanish Prime Minister Pedro Sánchez in Beijing on Friday to mark the 20th anniversary of the two countries’ comprehensive strategic partnership. Xi called on China-EU cooperation to (CCTV): “Resist unilateral bullyi…

Beijing is wasting no time in improving relations with Europe.
Xi Jinping met with Spanish Prime Minister Pedro Sánchez in Beijing on Friday to mark the 20th anniversary of the two countries' comprehensive strategic partnership.
Xi called on China-EU cooperation to (CCTV):

"Resist unilateral bullyi...

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MoFA: 中华人民共和国和西班牙王国关于加强全面战略伙伴关系的行动计划（2025－2028年）（全文）

CCTV: 习近平会见西班牙首相

April 14, 2025

Chinese electronics exempted from US tariffs

On Friday, the Trump administration exempted a range of products – including smartphones, computers, and semiconductors – from his “Liberation Day” tariffs. That’s a big carveout: Products exempt from tariffs account for ~22% of China’s total exports to the US (ICWise). But the Min…

On Friday, the Trump administration exempted a range of products – including smartphones, computers, and semiconductors – from his “Liberation Day” tariffs.
That’s a big carveout: Products exempt from tariffs account for ~22% of China's total exports to the US (ICWise).
But the Min...

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ICWise: 特朗普的“来电”——论取消手机税的长短

MofCom: 商务部新闻发言人就美方豁免部分产品的“对等关税”答记者问

Caixin: 美半导体、智能手机等关税豁免不长久一两月内推专门关税

Reuters: Tariffs on imported semiconductor chips coming soon, Trump says

April 12, 2025

Hitting the pause button: The weekly recap

Whew – what a week. I, for one, am glad it’s over – and to be honest, while we didn’t exactly end up in a great place when it comes to US-China trade tensions, things could have been much worse. Where we are: After multiple rounds of back-and-forth tariff increases, the US and China have… Read More »

Whew – what a week.
I, for one, am glad it’s over – and to be honest, while we didn’t exactly end up in a great place when it comes to US-China trade tensions, things could have been much worse.
Where we are: After multiple rounds of back-and-forth tariff increases, the US and China have each impose...

April 12, 2025

Is Microsoft quiet-quitting China?

What happened: This month, a couple of clues point to the possibility that Microsoft may be shoring up its China sanctions compliance, but doing so as quietly as possible: On March 31, Chinese and Western media reported that Microsoft had shuttered its Shanghai AI Lab, closing offices and moving ou…

What happened: This month, a couple of clues point to the possibility that Microsoft may be shoring up its China sanctions compliance, but doing so as quietly as possible:

On March 31, Chinese and Western media reported that Microsoft had shuttered its Shanghai AI Lab, closing offices and moving ou...

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SCMP: Microsoft shutters AI lab in Shanghai, signalling a broader pullback from China

April 11, 2025

SPB-funded land buyback scheme gains traction

More provinces are acquiring land from property developers using special-purpose bond (SPB) proceeds, following Guangdong’s lead in February. On Tuesday, Hunan province issued RMB 9.4 billion worth of SPBs to purchase 126 idle land plots from property developers (China Index Academy). This followed…

More provinces are acquiring land from property developers using special-purpose bond (SPB) proceeds, following Guangdong’s lead in February.
On Tuesday, Hunan province issued RMB 9.4 billion worth of SPBs to purchase 126 idle land plots from property developers (China Index Academy).

This followed...

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China Index Academy: 重磅！拟使用专项债收地已破千亿，三省领跑发债超400亿

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