string(13) "markets-macro"

Macro

January 31, 2024

A familiar tune

Central leaders want local officials to break down barriers to inter-provincial trade and investment. On Wednesday, the Party’s top policymaking body – the Central Economic and Financial Affairs Commission – published a high-profile op-ed on page 2 of the People’s Daily. The article is the third in… Username Password Remember Me Forgot Password

Central leaders want local officials to break down barriers to inter-provincial trade and investment.
On Wednesday, the Party’s top policymaking body – the Central Economic and Financial Affairs Commission – published a high-profile op-ed on page 2 of the People’s Daily.

The article is the third in...

sources

People's Daily: 必须坚持依靠改革开放增强发展内生动力

January 31, 2024

Politburo (again) fails to set date for plenum

We still don’t have a date for the Third Plenum. On Wednesday, the Politburo held its monthly meeting. They reviewed: Work reports from the Party groups of the legislature (NPCSC), State Council, political advisory body (CPPCC), Supreme People’s Court, Supreme People’s Procuratorate, and the Centra…

We still don’t have a date for the Third Plenum.
On Wednesday, the Politburo held its monthly meeting.
They reviewed:

Work reports from the Party groups of the legislature (NPCSC), State Council, political advisory body (CPPCC), Supreme People's Court, Supreme People's Procuratorate, and the Centra...

sources

Xinhua: 中共中央政治局召开会议中共中央总书记习近平主持会议

January 31, 2024

Aiming for the target

China’s powerhouse provincial economies are, for the most part, expecting slower growth in 2024. Some context: While the national GDP growth target will be published when the legislature (NPC) meets in March, provinces publish annual growth targets around the end of January. As of Tuesday, all 31 p…

China’s powerhouse provincial economies are, for the most part, expecting slower growth in 2024.
Some context: While the national GDP growth target will be published when the legislature (NPC) meets in March, provinces publish annual growth targets around the end of January.

As of Tuesday, all 31 p...

sources

Shanghai Securities News: 专题·地方两会快报 | 31个省区市公布2024年GDP增长目标

Economic Observer: 多省敲定GDP增速目标 2024年开跑

January 31, 2024

Export Controls as a Service

We just finished reading the full text of the US Commerce Department’s proposal to require US Infrastructure as a Service (IaaS) cloud providers to disclose the identities of foreign users training potentially malicious AI. We outlined the basics for you on Monday, before the full text was released…

We just finished reading the full text of the US Commerce Department's proposal to require US Infrastructure as a Service (IaaS) cloud providers to disclose the identities of foreign users training potentially malicious AI.

We outlined the basics for you on Monday, before the full text was released...

sources

Federal Register: Taking Additional Steps To Address the National Emergency With Respect to Significant Malicious Cyber-Enabled Activities

January 31, 2024

You scratch my algorithm, I’ll scratch yours

Yesterday, we speculated that any efforts by the US to restrict Chinese companies from accessing cloud services to train AI models might hamper efforts to maintain dialogue with China on AI risks. Sounds like Ministry of Foreign Affairs spokesperson Wang Wenbin might agree with us. On Monday, during…

Yesterday, we speculated that any efforts by the US to restrict Chinese companies from accessing cloud services to train AI models might hamper efforts to maintain dialogue with China on AI risks.
Sounds like Ministry of Foreign Affairs spokesperson Wang Wenbin might agree with us.
On Monday, during...

sources

MoFA: 2024年1月29日外交部发言人汪文斌主持例行记者会

January 31, 2024

Sensor-y overload

A journey of a thousand miles begins with the first step plan. On Thursday, the industrial ministry (MIIT) released the Work Plan for the Digital Transformation of the Raw Materials Industry, running through 2026. Some context: For decades, China has talked in broad terms about “New-type Industriali…

A journey of a thousand miles begins with the first step plan.
On Thursday, the industrial ministry (MIIT) released the Work Plan for the Digital Transformation of the Raw Materials Industry, running through 2026.
Some context: For decades, China has talked in broad terms about “New-type Industriali...

sources

MIIT: 工业和信息化部等九部门关于印发《原材料工业数字化转型工作方案（2024—2026年）》的通知

January 30, 2024

Time for higher-hanging fruit

Minister of Commerce Wang Wentao is happy with recent efforts to promote foreign investment. At a Friday press conference, Wang assessed progress on the implementation of Document No. 11. Some context: Released last August, “Document No. 11” is more popularly known as the “24 measures,” after the nu…

Minister of Commerce Wang Wentao is happy with recent efforts to promote foreign investment.
At a Friday press conference, Wang assessed progress on the implementation of Document No. 11.
Some context: Released last August, "Document No. 11" is more popularly known as the "24 measures," after the nu...

sources

Gov.cn: 国务院新闻办就稳中求进、以进促稳推动商务高质量发展取得新突破举行发布会

January 30, 2024

The Thais that bind

Beijing wants its relationship with Bangkok to be closer than ever. China’s top diplomat Wang Yi spent the last few days in Thailand, where he: Inked a visa exemption agreement with his Thai counterpart that allows citizens of both countries 30 days of fuss-free travel Met with Thailand’s Princess…

Beijing wants its relationship with Bangkok to be closer than ever.
China's top diplomat Wang Yi spent the last few days in Thailand, where he:

Inked a visa exemption agreement with his Thai counterpart that allows citizens of both countries 30 days of fuss-free travel
Met with Thailand's Princess...

sources

People's Daily: 泰国总理赛塔会见王毅

MFA: 王毅同泰国副总理兼外长班比举行年度磋商

CGTN: Princess Maha Chakri Sirindhorn of Thailand meets with Wang Yi

January 30, 2024

Evergrande gets wound up

On Monday, the Hong Kong High Court issued a wind-up order to China Evergrande Group. That makes Evergrande the fifth mainland developer – and by far the largest – to be ordered to liquidate by the Hong Kong High Court since 2021. How we got here: It’s been a long grind for Evergrande and its… Read More »

On Monday, the Hong Kong High Court issued a wind-up order to China Evergrande Group.

That makes Evergrande the fifth mainland developer – and by far the largest – to be ordered to liquidate by the Hong Kong High Court since 2021.

How we got here: It’s been a long grind for Evergrande and its offs...

sources

Reuters: What happens next after China Evergrande ordered to liquidate?

WSJ: Evergrande Was Once China’s Biggest Property Developer. Now, It Has Been Ordered to Liquidate.

January 30, 2024

Pushing it to the max

Local governments are paying down hidden debt like it’s going out of fashion. Some context: Localities are specifically using refinancing bonds to repay hidden debt – i.e. debt borrowed by local government financing vehicles and other state firms for which local authorities are indirectly responsibl…

Local governments are paying down hidden debt like it's going out of fashion.
Some context: Localities are specifically using refinancing bonds to repay hidden debt – i.e. debt borrowed by local government financing vehicles and other state firms for which local authorities are indirectly responsibl...

sources

The Paper: 贵州拟发逾324亿元特殊再融资债券，累计规模逾2588亿元

CELMA: 中国地方政府债券信息公开平台

January 30, 2024

Aiming for moonshots

On Monday, the Ministry of Industry and Information Technology (MIIT) released guidelines on promoting the development of future industries. This initiative is a big deal: It came straight from the Central Commission for Science and Technology (CCST), China’s most important decision-making bod…

On Monday, the Ministry of Industry and Information Technology (MIIT) released guidelines on promoting the development of future industries.
This initiative is a big deal: It came straight from the Central Commission for Science and Technology (CCST), China’s most important decision-making bod...

sources

MIIT: 工业和信息化部等七部门关于推动未来产业创新发展的实施意见

January 30, 2024

Staying true to form

The Party doesn’t want cadres mailing it in. On Monday, the Party’s No. 5 official and head of the Central Secretariat Cai Qi chaired a national level meeting to stamp out “formalism” among grassroots officials. Party speak 101: Formalism refers to the problem of cadres going through the motions, of…

The Party doesn’t want cadres mailing it in.
On Monday, the Party’s No. 5 official and head of the Central Secretariat Cai Qi chaired a national level meeting to stamp out “formalism” among grassroots officials.
Party speak 101: Formalism refers to the problem of cadres going through the motions, of...

sources

CPC People: 中央层面整治形式主义为基层减负专项工作机制会议在京召开

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