string(13) "markets-macro"

Macro

February 28, 2024

Ant Group outbids Citadel for Credit Suisse’s China unit

Executives at Chinese fintech giant Ant Group might have to start wearing a shirt and tie to work. Why’s that? The group is looking to get into the formal investment banking business. Some background: Following its acquisition of Credit Suisse last year, UBS Group needed to sell Credit Suisse’s C… Username Password Remember Me … Read More »

Executives at Chinese fintech giant Ant Group might have to start wearing a shirt and tie to work.

Why's that?
The group is looking to get into the formal investment banking business.

Some background: Following its acquisition of Credit Suisse last year, UBS Group needed to sell Credit Suisse’s C...

sources

Bloomberg: Jack Ma-Backed Ant Outbids Citadel Securities for Credit Suisse’s China JV

February 28, 2024

True gri(d)t

Beijing is upping its efforts to build a smarter and more resilient power grid. On Tuesday, the macro planner (NDRC) and energy regulator (NEA) issued high-level guidance instructing officials to make faster progress on grid upgrades. Some context: China’s power system has traditionally relied on j…

Beijing is upping its efforts to build a smarter and more resilient power grid.
On Tuesday, the macro planner (NDRC) and energy regulator (NEA) issued high-level guidance instructing officials to make faster progress on grid upgrades.
Some context: China's power system has traditionally relied on j...

sources

NDRC: 国家发展改革委国家能源局关于加强电网调峰储能和智能化调度能力建设的指导意见

February 28, 2024

Time to declassify state secrets

The national legislature (NPCSC) has approved China’s new state secret law. Some context: The updated Law on Guarding State Secrets – last amended in 2010 – was passed by the (NPCSC) on Wednesday. The updates to the law – which will take effect on May 1 – seek to better protect state secrets by: Re…

The national legislature (NPCSC) has approved China's new state secret law.
Some context: The updated Law on Guarding State Secrets – last amended in 2010 – was passed by the (NPCSC) on Wednesday.
The updates to the law – which will take effect on May 1 – seek to better protect state secrets by:

Re...

sources

NPC: 中华人民共和国保守国家秘密法

Gov.cn: 国家保密局负责人就《中华人民共和国保守国家秘密法》答记者问

February 28, 2024

Pay in China

Signing up for mobile payments in China may become a whole lot easier for foreigners. That’s per a new policy document approved by the State Council on Friday, that aims to improve foreigners’ accessibility to mobile payment platforms. At issue: Chinese mobile payments, such as Alipay and WeChat Pay…

Signing up for mobile payments in China may become a whole lot easier for foreigners.
That's per a new policy document approved by the State Council on Friday, that aims to improve foreigners' accessibility to mobile payment platforms.
At issue: Chinese mobile payments, such as Alipay and WeChat Pay...

sources

State Council: 李强主持召开国务院常务会议听取2023年国务院部门办理全国人大代表建议和全国政协提案工作情况汇报等

February 28, 2024

Are you ready for the Two Sessions?

China’s Two Sessions kick off on Monday. These meetings are some of the most important gatherings on the annual political calendar. Read our preview here. The official agenda isn’t out yet – but we think the sessions will wrap up on March 12. That’s because Beijing restricts the use of personal…

China's Two Sessions kick off on Monday.

These meetings are some of the most important gatherings on the annual political calendar.
Read our preview here.

The official agenda isn't out yet – but we think the sessions will wrap up on March 12.

That's because Beijing restricts the use of personal...

sources

Gov.cn: 北京市公安局发布关于加强2024年全国“两会”期间北京地区“低慢小”航空器管理工作的通告

February 28, 2024

Two Sessions offering

It’s that most wonderful time of year again: The annual plenary meetings of China’s parliament (NPC) and advisory body (CPPCC) – the Two Sessions – are just around the corner. The CPPCC meetings kick off on March 4, and the NPC on March 5. These meetings are always important, but this year’s are p…

It’s that most wonderful time of year again: The annual plenary meetings of China’s parliament (NPC) and advisory body (CPPCC) – the Two Sessions – are just around the corner.

The CPPCC meetings kick off on March 4, and the NPC on March 5.

These meetings are always important, but this year’s are p...

February 28, 2024

Two Sessions 2024 Preview: What to watch in science and tech

This week, China’s policy apparatus is gearing up for the Two Sessions – the annual meetings of China’s legislature (NPC) and political advisory body (CPPCC) – which begin on Monday, March 4. Spoiler alert: The biggest topic at this year’s Two Sessions is expected to be the economy. China’s econom…

This week, China's policy apparatus is gearing up for the Two Sessions – the annual meetings of China’s legislature (NPC) and political advisory body (CPPCC) – which begin on Monday, March 4.
Spoiler alert: The biggest topic at this year's Two Sessions is expected to be the economy.

China’s econom...

February 27, 2024

CAD-astrophe avoided

Local governments are paying down overdue arrears. That’s according to the latest data on commercial acceptance draft (CAD) defaults. A refresher: CADs are tradable, zero-coupon IOUs with a fixed maturity of six months or less (see our October 20 note). Local government financing vehicles (LGFVs)…

Local governments are paying down overdue arrears.

That’s according to the latest data on commercial acceptance draft (CAD) defaults.

A refresher: CADs are tradable, zero-coupon IOUs with a fixed maturity of six months or less (see our October 20 note).

Local government financing vehicles (LGFVs)...

sources

SHCPE: 截至2024年1月31日承兑人逾期名单

SHCPE: 截至2024年1月31日持续逾期名单

February 27, 2024

Trading barbs

The US and China are trading barbs over trade. On Monday, Commerce Minister Wang Wentao met with US Trade Representative Katherine Tai on the sidelines of the 13th Ministerial Conference of the World Trade Organization (WTO) in Abu Dhabi. Awkward: Days earlier, Tai’s office released its annual repor…

The US and China are trading barbs over trade.
On Monday, Commerce Minister Wang Wentao met with US Trade Representative Katherine Tai on the sidelines of the 13th Ministerial Conference of the World Trade Organization (WTO) in Abu Dhabi.
Awkward: Days earlier, Tai’s office released its annual repor...

sources

MofCom: 商务部世贸司负责人就美国贸易代表办公室发布《2023年中国履行加入世贸组织承诺报告》事答记者问

MofCom: 商务部部长王文涛会见美国贸易代表戴琪

SCMP: Chinese commerce minister meets with US trade representative at WTO conference in Abu Dhabi

USTR: 2023 REPORT TO CONGRESS ON CHINA’S WTO COMPLIANCE

February 27, 2024

Bring me your economic scorecards, comrades

Xi Jinping knows the economy needs fixing. In recent days, he has reviewed work reports submitted by top Party members on just that subject (and others). ICYDK: Since 2018, Xi has required every Politburo member to submit written reports describing their work over the past year. In 2021…

Xi Jinping knows the economy needs fixing.

In recent days, he has reviewed work reports submitted by top Party members on just that subject (and others).

ICYDK: Since 2018, Xi has required every Politburo member to submit written reports describing their work over the past year.

In 2021...

sources

Xinhua: 中央政治局委员书记处书记　全国人大常委会国务院全国政协党组成员　最高人民法院最高人民检察院党组书记向党中央和习近平总书记述职

February 27, 2024

From Russia with no love

Beijing is fuming about sanctions on Chinese companies. Some context: On February 21, the EU imposed its latest round of Russia-related sanctions – targeting, among others, four small Chinese electronics companies accused of indirectly supporting Russia’s military-industrial complex. A day later, …

Beijing is fuming about sanctions on Chinese companies.
Some context: On February 21, the EU imposed its latest round of Russia-related sanctions – targeting, among others, four small Chinese electronics companies accused of indirectly supporting Russia's military-industrial complex.

A day later, ...

sources

Xinhua: China opposes EU sanctions against Chinese firms over Russia

Xinhua: China opposes U.K. sanctions against Chinese firms

February 27, 2024

Two Sessions preview: Our six big questions

The Two Sessions – the annual meetings of China’s legislature (NPC) and political advisory body (CPPCC) – are always important, but this year’s meetings, starting March 4, are especially so. That’s because China’s economy has struggled to consolidate its post-COVID recovery; as a result, busin…

The Two Sessions – the annual meetings of China’s legislature (NPC) and political advisory body (CPPCC) – are always important, but this year’s meetings, starting March 4, are especially so.

That’s because China’s economy has struggled to consolidate its post-COVID recovery; as a result, busin...

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