string(13) "markets-macro"

Macro

April 10, 2025

Deflationary pressures continue to plague China’s economy

China’s consumer prices have fallen for the second consecutive month. Per data released by the stats bureau (NBS) on Thursday: The March consumer price index (CPI) fell 0.1% y/y, a slower decline than February’s 0.7% drop The producer price index (PPI) fell 2.5% y/y, compared to a 2.2% drop the pre… Username Password Remember Me… Read More »

China's consumer prices have fallen for the second consecutive month.
Per data released by the stats bureau (NBS) on Thursday:

The March consumer price index (CPI) fell 0.1% y/y, a slower decline than February’s 0.7% drop
The producer price index (PPI) fell 2.5% y/y, compared to a 2.2% drop the pre...

sources

Gov.cn: 3月份我国CPI同比降幅收窄

April 10, 2025

USD/CNY central parity set above key level for second consecutive day

China’s central bank (PBoC) appears ready to let the yuan depreciate – albeit not too sharply. On Wednesday, the PBoC set the USD/CNY central parity rate above 7.2 for the second consecutive day. Wednesday’s central parity was set at 7.2066 – up from Tuesday’s level of 7.2038. The last time the da…

China’s central bank (PBoC) appears ready to let the yuan depreciate – albeit not too sharply.
On Wednesday, the PBoC set the USD/CNY central parity rate above 7.2 for the second consecutive day.

Wednesday's central parity was set at 7.2066 – up from Tuesday’s level of 7.2038.

The last time the da...

sources

Reuters: Exclusive: China's central bank asks state lenders to reduce dollar purchases, sources say

April 10, 2025

German trade association alleges Temu price caps are anti-competitive

What happened: The German Trade Association (HDE) filed a complaint with German antitrust authorities regarding alleged price-fixing by Chinese e-commerce giant Temu. The complaint alleges that: “Temu is infringing upon the pricing autonomy of its partner merchants by imposing strict pricing guidel…

What happened: The German Trade Association (HDE) filed a complaint with German antitrust authorities regarding alleged price-fixing by Chinese e-commerce giant Temu. The complaint alleges that:

"Temu is infringing upon the pricing autonomy of its partner merchants by imposing strict pricing guidel...

sources

The Munich Eye: German Trade Association Files Complaint Against Chinese Online Retailer Temu

April 10, 2025

Beijing warns prospective tourists, students to use caution when traveling to the US

Beijing just fired a warning shot at the US education and tourism industries. On Wednesday, two ministries issued warnings for tourists and students planning travel to the US. The Ministry of Culture and Tourism told prospective tourists to “fully assess the risks” of US travel, and “travel with ca…

Beijing just fired a warning shot at the US education and tourism industries.
On Wednesday, two ministries issued warnings for tourists and students planning travel to the US.

The Ministry of Culture and Tourism told prospective tourists to "fully assess the risks" of US travel, and "travel with ca...

sources

Ministry of Culture and Tourism: 文化和旅游部对赴美中国游客发布风险提示

MOE: 教育部发布2025年第1号留学预警

WSJ: China Warns Citizens About Travel and Study in the U.S.

China Daily: China still leading source of foreign students

Brookings: Commentary How America lost the heart of China’s top talent

BBC: Why has Trump revoked hundreds of international student visas?

April 10, 2025

An escalation to end all escalations?

Another day, another escalation in the trade war with the US…or maybe not? On Wednesday afternoon, US President Donald Trump announced he would raise tariffs on Chinese imports by a further 21%, effective “immediately.” That brings the total amount of tariffs imposed on Chinese goods since Februa…

Another day, another escalation in the trade war with the US...or maybe not?
On Wednesday afternoon, US President Donald Trump announced he would raise tariffs on Chinese imports by a further 21%, effective "immediately."

That brings the total amount of tariffs imposed on Chinese goods since Februa...

sources

WSJ: Trump Pauses ‘Reciprocal’ Tariffs, but Hits China Harder

CCTV: 国家电影局就电影方面应对美升级对华关税答记者问

April 10, 2025

Commerce minister talks with EU trade chief

On Tuesday, Minister of Commerce Wang Wentao held a video call with EU trade chief Maros Sefcovic to discuss trade. Some context: Beijing and Brussels have been ramping up trade talks. On Tuesday, Premier Li Qiang held a call with EU Commission President Ursula von der Leyen to push for cooperation…

On Tuesday, Minister of Commerce Wang Wentao held a video call with EU trade chief Maros Sefcovic to discuss trade.
Some context: Beijing and Brussels have been ramping up trade talks.

On Tuesday, Premier Li Qiang held a call with EU Commission President Ursula von der Leyen to push for cooperation...

sources

MofCom: 王文涛部长与欧盟委员会贸易和经济安全委员谢夫乔维奇举行视频会谈

Reuters: China and EU discuss trade in response to U.S.' punitive tariffs

April 10, 2025

Premier Li pledges policy support to cushion impact of trade war

Expectations are growing that the government will ramp up support for the economy. On Wednesday, Premier Li Qiang chaired a symposium with economists and Chinese business leaders to discuss the economy. ICYDK: It’s routine for the Premier to hold a symposium to solicit policy advice ahead of th…

Expectations are growing that the government will ramp up support for the economy.
On Wednesday, Premier Li Qiang chaired a symposium with economists and Chinese business leaders to discuss the economy.
ICYDK: It’s routine for the Premier to hold a symposium to solicit policy advice ahead of th...

sources

Xinhua: 李强主持召开经济形势专家和企业家座谈会

Caixin: 社科院张斌：应对关税冲击，怎样的财政刺激更有效？

April 10, 2025

White House pauses Nvidia H20 restrictions after Jensen Huang meeting

What happened: NPR reported on April 9 that the Trump administration has paused the plan for restricting Nvidia’s H20 sales to China after CEO Jensen Huang’s dinner at Mar-a-Lago last week. “The change of course from the White House came after Nvidia promised the Trump administration new U.S….

What happened: NPR reported on April 9 that the Trump administration has paused the plan for restricting Nvidia’s H20 sales to China after CEO Jensen Huang’s dinner at Mar-a-Lago last week.

“The change of course from the White House came after Nvidia promised the Trump administration new U.S....

sources

NPR: Trump administration backs off Nvidia's 'H20' chip crackdown after Mar-a-Lago dinner

April 10, 2025

MofCom reportedly urges SHEIN to rethink supply chain shift

What happened: According to anonymous sources speaking to Bloomberg, China’s Ministry of Commerce (MofCom) has asked fast fashion giant SHEIN not to shift supply chains out of China in response to US tariffs. Some context: SHEIN has spent the past two years shifting some of its supply chains to hed…

What happened: According to anonymous sources speaking to Bloomberg, China's Ministry of Commerce (MofCom) has asked fast fashion giant SHEIN not to shift supply chains out of China in response to US tariffs.
Some context: SHEIN has spent the past two years shifting some of its supply chains to hed...

sources

Bloomberg: China Urges Shein to Halt Supply-Chain Shift After Tariffs

April 9, 2025

Authorities deploy multiple measures to boost stock market

Chinese authorities are pulling out all the stops to shield A-shares from the fallout of the tariff war. On Tuesday, the central bank (PBoC) said it will provide Central Huijin – the domestic arm of China’s sovereign wealth fund – with “sufficient relending support” to increase its investments in ET…

Chinese authorities are pulling out all the stops to shield A-shares from the fallout of the tariff war.
On Tuesday, the central bank (PBoC) said it will provide Central Huijin – the domestic arm of China’s sovereign wealth fund – with "sufficient relending support" to increase its investments in ET...

sources

PBoC: 中国人民银行新闻发言人就支持中央汇金公司稳定资本市场答记者问

SASAC: 国务院国资委：全力支持央企控股上市公司不断加大增持回购力度

Chengtong: 中国诚通拟使用专项贷款增持上市公司股票

China Reform: 中国国新以专项再贷款增持，首批金额800亿元

The Paper: 近百家上市公司昨日盘后出手增持回购，“国家队”此前相继宣布增持

NFRA: 国家金融监督管理总局发布《关于调整保险资金权益类资产监管比例有关事项的通知》

April 9, 2025

Trade war tariffs, shipping fees could deal crushing blow to US farmers

American farmers are getting caught in the crossfire of the US-China trade war. China’s 34% across-the-board tariffs on US goods, announced on April 4, and the 50% tariffs announced today will come on top of the 10–15% duties on a broad range of agricultural products announced in March. That makes…

American farmers are getting caught in the crossfire of the US-China trade war.
China’s 34% across-the-board tariffs on US goods, announced on April 4, and the 50% tariffs announced today will come on top of the 10–15% duties on a broad range of agricultural products announced in March.

That makes...

sources

Reuters: China retaliation on US farm goods hits soybeans, bolstering Brazil

Reuters: Not all US fees on Chinese ships will be implemented, USTR's Greer says

People's Daily: 丰富餐桌，农业合作鼓起农民“钱袋子”（钟声）

April 9, 2025

China and the US hit each other with further 50% tariffs

Welp, China’s trade war with the US just escalated – again. On Tuesday, the White House increased tariffs on Chinese exports by a further 50% – effective April 9. Trump threatened the tariff hike a day earlier, in response to China’s 34% retaliatory tariff. Whips out calculator: 50% tariffs + 34% …

Welp, China's trade war with the US just escalated – again.
On Tuesday, the White House increased tariffs on Chinese exports by a further 50% – effective April 9.

Trump threatened the tariff hike a day earlier, in response to China’s 34% retaliatory tariff.

Whips out calculator: 50% tariffs + 34% ...

sources

MoF: 国务院关税税则委员会关于调整对原产于美国的进口商品加征关税措施的公告

MofCom: 商务部公告2025年第22号公布将12家美国实体列入出口管制管控名单

MofCom: 不可靠实体清单工作机制关于将护盾人工智能公司等6家美国企业列入不可靠实体清单的公告

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