string(13) "markets-macro"

Macro

February 29, 2024

Huddling together in the debt hole

A local government financing vehicle (LGFV) in Guizhou province is helping relieve pressure on…another LFGV in Guizhou? The latest: Funds from a bond issued last week by an Anshun city government-owned LGFV (in Guizhou province) will be used to repay two maturing bonds issued by another Anshun LGF… Username Password Remember Me Forgot… Read More »

A local government financing vehicle (LGFV) in Guizhou province is helping relieve pressure on...another LFGV in Guizhou?
The latest: Funds from a bond issued last week by an Anshun city government-owned LGFV (in Guizhou province) will be used to repay two maturing bonds issued by another Anshun LGF...

sources

Caixin: 贵州化债首现统借统还案例强资质平台接续弱平台债券

February 29, 2024

Linking with Bio

China is buying what Sierra Leone is selling. On Wednesday, Xi Jinping met with Sierra Leonian President Julius Maada Bio in Beijing. Some context: Beijing has expended a lot of diplomatic capital on Africa in recent months. Xi highlighted China’s support for African industrialization, infrastructur…

China is buying what Sierra Leone is selling.
On Wednesday, Xi Jinping met with Sierra Leonian President Julius Maada Bio in Beijing.
Some context: Beijing has expended a lot of diplomatic capital on Africa in recent months.
Xi highlighted China’s support for African industrialization, infrastructur...

sources

MoFA: 习近平同塞拉利昂总统比奥会谈

Sierra Leone State House: Chinese President Xi Jinping Announces ¥50 Million Economic and Technical Assistance, ¥20 Million Debt Cancellation and 1500 Tonnes of Food Assistance for Sierra Leone

Reuters: China promises investment in impoverished Sierra Leone

February 29, 2024

One step at a time

Tackling local protectionism is (still) top of mind for Premier Li Qiang. On Monday, Li convened a State Council study session focused on building a unified national market. Some context: China’s economy effectively functions as dozens of regional markets protected and regulated by local govern…

Tackling local protectionism is (still) top of mind for Premier Li Qiang.
On Monday, Li convened a State Council study session focused on building a unified national market.
Some context: China's economy effectively functions as dozens of regional markets protected and regulated by local govern...

sources

Gov.cn: 李强主持国务院第六次专题学习

CE.cn: 王一鸣：全面实施新反垄断法加快建设全国统一大市场

Gov.cn: 加快建设高效规范、公平竞争、充分开放的全国统一大市场——推动中国市场由大到强

February 29, 2024

Beijing huanying US businesses

Premier Li Qiang is itching to keep US businesses on side. On Wednesday, Li met with a US Chamber of Commerce (USCC) delegation visiting Beijing. In a meeting with USCC President Suzanne Clark, Li turned on the charm (Xinhua): “U.S. companies are welcome to continue investing in China and deepen th…

Premier Li Qiang is itching to keep US businesses on side.
On Wednesday, Li met with a US Chamber of Commerce (USCC) delegation visiting Beijing.
In a meeting with USCC President Suzanne Clark, Li turned on the charm (Xinhua):

"U.S. companies are welcome to continue investing in China and deepen th...

sources

Gov.cn: 李强会见美国商会访华团

Xinhua: Chinese premier meets U.S. Chamber of Commerce delegation

February 29, 2024

Learning to do the job better

The Party leadership is worried about poor policy implementation. On Wednesday, the Party Central Committee’s general office released guidelines on mandatory study for Party members. The guidelines state that Party committees at all levels should convene annual sessions to study Xi Jinping Thought. …

The Party leadership is worried about poor policy implementation.
On Wednesday, the Party Central Committee's general office released guidelines on mandatory study for Party members.
The guidelines state that Party committees at all levels should convene annual sessions to study Xi Jinping Thought.
...

sources

Xinhua: 中共中央办公厅关于巩固拓展学习贯彻习近平新时代中国特色社会主义思想主题教育成果的意见

February 29, 2024

Surging policy risks

Bad policy is costing businesses money. According to a survey by finance ministry-affiliated think tank CAFS released on Tuesday: At the end of Q3 2023, costs as a percentage of revenue for surveyed firms were up 0.78% from the end of 2021. CAFS said that increased costs were driven in part by: P…

Bad policy is costing businesses money.
According to a survey by finance ministry-affiliated think tank CAFS released on Tuesday:

At the end of Q3 2023, costs as a percentage of revenue for surveyed firms were up 0.78% from the end of 2021.

CAFS said that increased costs were driven in part by:

P...

sources

21st Century Biz: 财科院报告：2023年我国企业成本呈上升态势，建议提高政策可预期性以改善企业预期

February 29, 2024

Jin Zhuanglong on the future of China’s manufacturing sector

On Wednesday, Jin Zhuanglong, head of the industrial ministry (MIIT), penned a long theoretical essay on “New Industrialization.” Background: “New Industrialization” is a term that encapsulates Xi Jinping’s approach to industrial upgrading. The essay is full of interesting nuggets that point to MII…

On Wednesday, Jin Zhuanglong, head of the industrial ministry (MIIT), penned a long theoretical essay on "New Industrialization."
Background: "New Industrialization" is a term that encapsulates Xi Jinping's approach to industrial upgrading.
The essay is full of interesting nuggets that point to MII...

sources

MIIT: 金壮龙：全面贯彻落实党的二十大精神大力推进新型工业化

February 29, 2024

A quant-um of solace

China’s securities regulator (CSRC) is cracking down on a quant trading strategy that contributed to January’s A-share sell-off. Citing unnamed sources, Bloomberg reports that quantitative traders have been instructed by regulators not to accept new funds for direct market access products. They’re …

China's securities regulator (CSRC) is cracking down on a quant trading strategy that contributed to January’s A-share sell-off.
Citing unnamed sources, Bloomberg reports that quantitative traders have been instructed by regulators not to accept new funds for direct market access products.

They’re ...

sources

Bloomberg: China Tells Quants to Phase Out Strategy Blamed for Turmoil

CSRC: 证监会新闻发言人就私募基金DMA业务有关情况答记者问

Bloomberg: Quant Models Went Haywire as Chinese Stocks Crashed and Rallied

February 29, 2024

Fujian Jinhua off the hook

All’s well that ends well? On Tuesday, Bloomberg reported that a US court has found Chinese chipmaker Fujian Jinhua not guilty of stealing trade secrets from Micron Technology. Some context: Fujian Jinhua and Micron have been engaged in a years-long legal tussle over chip IP that has spanned both th…

All's well that ends well?
On Tuesday, Bloomberg reported that a US court has found Chinese chipmaker Fujian Jinhua not guilty of stealing trade secrets from Micron Technology.
Some context: Fujian Jinhua and Micron have been engaged in a years-long legal tussle over chip IP that has spanned both th...

sources

Bloomberg: Chinese Chipmaker Cleared in US Criminal Trade Secrets Case

February 29, 2024

MIIT will push industrial firms to implement data security rules

You can write all the data security rules you want. Getting companies to follow them is another thing entirely. On Monday, the industrial ministry (MIIT) launched a plan designed to bolster data security at industrial and ICT companies. Background: China’s cyber governance laws and regulations …

You can write all the data security rules you want.

Getting companies to follow them is another thing entirely.

On Monday, the industrial ministry (MIIT) launched a plan designed to bolster data security at industrial and ICT companies.
Background: China's cyber governance laws and regulations ...

sources

MIIT: 工业和信息化部关于印发《工业领域数据安全能力提升实施方案（2024-2026年）》的通知

February 29, 2024

Biden moves to block large-scale sensitive data transfers to China

If you can’t pass a federal data privacy law… On Wednesday, President Biden signed an Executive Order (EO) restricting the bulk export of sensitive personal and government data to “countries of concern.” The deets: The EO instructs the Justice Department to issue regulations preventing data broke…

If you can't pass a federal data privacy law...
On Wednesday, President Biden signed an Executive Order (EO) restricting the bulk export of sensitive personal and government data to "countries of concern."
The deets: The EO instructs the Justice Department to issue regulations preventing data broke...

sources

White House: FACT SHEET: President Biden Issues Executive Order to Protect Americans’ Sensitive Personal Data

Bloomberg: US Seeks to Limit China’s Access to Americans’ Personal Data

February 28, 2024

A piece of the pension puzzle

China’s stock market woes are holding back development of the country’s private pension scheme. That’s according to Zheng Bingwen, an expert at the Chinese Academy of Social Sciences – a State Council-affiliated research institute. Zheng says the private pension program – introduced in November 20…

China's stock market woes are holding back development of the country's private pension scheme.

That’s according to Zheng Bingwen, an expert at the Chinese Academy of Social Sciences – a State Council-affiliated research institute.

Zheng says the private pension program – introduced in November 20...

sources

Caixin: 资本市场不好，养老金融只是一句空话

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