string(13) "markets-macro"

Macro

February 2, 2024

A mixed bag

Overall demand for housing is showing tentative signs of recovery, but buyers are increasingly choosing existing homes over new builds. The latest: On Wednesday, China Real Estate Information Corp. (CRIC) published its monthly sales data for China’s top 100 developers in January. The details: New ho… Username Password Remember Me Forgot Password

Overall demand for housing is showing tentative signs of recovery, but buyers are increasingly choosing existing homes over new builds.
The latest: On Wednesday, China Real Estate Information Corp. (CRIC) published its monthly sales data for China’s top 100 developers in January.
The details: New ho...

sources

CRIC: 2024年1月中国房地产企业销售TOP100排行榜

Caijing: 机构丨诸葛找房：1月重点14城二手住宅成交量止跌转升

February 2, 2024

Tepid, at best

Manufacturers continue to churn out products, but demand for those items remains weak. That’s our reading of January’s Purchasing Manager Index (PMI) prints, released by the stats bureau (NBS) and Caixin on Wednesday and Thursday, respectively. Quick refresher: PMIs give a snapshot of business con…

Manufacturers continue to churn out products, but demand for those items remains weak.

That’s our reading of January’s Purchasing Manager Index (PMI) prints, released by the stats bureau (NBS) and Caixin on Wednesday and Thursday, respectively.

Quick refresher: PMIs give a snapshot of business con...

sources

Caixin: 2024年1月财新中国制造业PMI录得50.8 与上月持平

Stats.gov.cn: 2024年1月中国采购经理指数运行情况

February 2, 2024

Mo’ money, no capital

Weak bank profits are undermining financial stability. So says Yi Gang, the former central bank (PBoC) governor. Yi is now deputy director of the political advisory body’s (CPPCC) economic committee. The CPPCC published Yi’s comments following a research mission by the committee. The committee fo…

Weak bank profits are undermining financial stability.
So says Yi Gang, the former central bank (PBoC) governor.

Yi is now deputy director of the political advisory body’s (CPPCC) economic committee.
The CPPCC published Yi’s comments following a research mission by the committee.

The committee fo...

sources

CPPCC: 统筹推进经济和金融高质量发展——访全国政协经济委员会副主任、中国人民银行原行长易纲

February 2, 2024

Ready for some good news?

US businesses are cautiously optimistic about the Chinese market. That’s per the American Chamber of Commerce in China’s annual Business Climate Survey Report, published Thursday. The highlights: “The two-year business outlook (2023-2024) for China has improved, with members showing increased opt…

US businesses are cautiously optimistic about the Chinese market.

That’s per the American Chamber of Commerce in China's annual Business Climate Survey Report, published Thursday.

The highlights:

“The two-year business outlook (2023-2024) for China has improved, with members showing increased opt...

sources

Bloomberg: AmCham China on 2024 Business Climate Survey

February 2, 2024

Xi’s big idea

Xi Jinping’s thinking big. On Wednesday, following the Politburo’s monthly meeting, the Politburo held a study session on the “new productive forces.” Some context: Xi first introduced the concept of new productive forces in September on a trip to Heilongjiang. The concept has become something of a …

Xi Jinping’s thinking big.
On Wednesday, following the Politburo’s monthly meeting, the Politburo held a study session on the “new productive forces.”
Some context: Xi first introduced the concept of new productive forces in September on a trip to Heilongjiang. The concept has become something of a ...

sources

Xinhua: 习近平在中共中央政治局第十一次集体学习时强调加快发展新质生产力扎实推进高质量发展

February 1, 2024

Friends to the end

Friendship with Russia is still China’s top priority. On Wednesday, Dong Jun – China’s newly minted defense minister – called Russian counterpart Sergei Shoigu as his first public engagement, reaffirming the strength of China-Russia ties (Ministry of Defense): “As 2024 marks the 75th anniversary of…

Friendship with Russia is still China’s top priority.
On Wednesday, Dong Jun – China’s newly minted defense minister – called Russian counterpart Sergei Shoigu as his first public engagement, reaffirming the strength of China-Russia ties (Ministry of Defense):

“As 2024 marks the 75th anniversary of...

sources

Ministry of National Defense: Chinese, Russian defense ministers hold video call

White House: Remarks and Q&A by National Security Advisor Jake Sullivan on the Future of U.S.-China Relations

February 1, 2024

Walk and chew gum

Beijing wants localities to prioritize farm productivity. ICYDK: For decades, China’s efforts to bolster food security have focused on increasing staple crop harvests by expanding planting area, while neglecting efforts to make farms more productive. As central pressure to ensure food security mo…

Beijing wants localities to prioritize farm productivity.
ICYDK: For decades, China's efforts to bolster food security have focused on increasing staple crop harvests by expanding planting area, while neglecting efforts to make farms more productive.

As central pressure to ensure food security mo...

sources

Study Times: 韩文秀:扎实推动乡村全面振兴不断取得实质性进展

February 1, 2024

A clear shift to growth

China’s top economic officials think the recent national security push has gone too far. Since Monday, the Central Commission for Financial and Economic Affairs (CCFEA) – the Party’s top economic policymaking body – has published two op-eds in the People’s Daily urging a more growth-centered approac…

China's top economic officials think the recent national security push has gone too far.
Since Monday, the Central Commission for Financial and Economic Affairs (CCFEA) – the Party’s top economic policymaking body – has published two op-eds in the People’s Daily urging a more growth-centered approac...

sources

People's Daily: 必须把坚持高质量发展作为新时代的硬道理

People's Daily: 必须坚持高质量发展和高水平安全良性互动

February 1, 2024

Property A-Lists

Local authorities are pushing banks to lend more to property developers. Some context: On January 12, The financial regulator (NFRA) and housing ministry (MoHURD) instructed local authorities to develop financing mechanisms that boost bank funding to developers. They then repeated the instruc…

Local authorities are pushing banks to lend more to property developers.
Some context: On January 12, The financial regulator (NFRA) and housing ministry (MoHURD) instructed local authorities to develop financing mechanisms that boost bank funding to developers.

They then repeated the instruc...

sources

China Securities Journal: 稳楼市大招落地，多地行动！

February 1, 2024

Battery battering leaves lithium low

Profits for China’s top lithium producers are plunging as battery growth slows. The latest: On Tuesday, Ganfeng Lithium and Tianqi Lithium warned shareholders that their net profits declined an estimated 70-80% y/y and 62.9-72.6% y/y, respectively, in 2023. In turn, the companies’ shares promptly t…

Profits for China's top lithium producers are plunging as battery growth slows.
The latest: On Tuesday, Ganfeng Lithium and Tianqi Lithium warned shareholders that their net profits declined an estimated 70-80% y/y and 62.9-72.6% y/y, respectively, in 2023.

In turn, the companies' shares promptly t...

sources

SCMP: China EVs: lithium producers Ganfeng, Tianqi issue profit warnings, blame price plunge for battery material as stocks sink

February 1, 2024

Wait for it…

Never fear – MoF is on the fiscal support case. That’s the message that Ministry of Finance (MoF) officials sent at a Thursday presser. Specifically, they wanted to reassure the market that policymakers will provide the “necessary fiscal intensity” to ensure China’s economy gains momentum this yea…

Never fear – MoF is on the fiscal support case.

That’s the message that Ministry of Finance (MoF) officials sent at a Thursday presser.

Specifically, they wanted to reassure the market that policymakers will provide the “necessary fiscal intensity” to ensure China’s economy gains momentum this yea...

sources

SCIO: 国新办举行2023年全年财政收支情况新闻发布会

February 1, 2024

Risky business

China’s financial regulator (NFRA) is focused – yet again – on reining in risks throughout 2024. The latest: On Tuesday, the NFRA held its annual work meeting to lay out the tasks for the year ahead. The top priority: “We will make every effort to promote the reform of small and medium-sized financ…

China's financial regulator (NFRA) is focused – yet again – on reining in risks throughout 2024.
The latest: On Tuesday, the NFRA held its annual work meeting to lay out the tasks for the year ahead.
The top priority:

“We will make every effort to promote the reform of small and medium-sized financ...

sources

NFRA: 国家金融监督管理总局召开2024年工作会议

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