string(13) "markets-macro"

Macro

January 23, 2024

Metaverse standards working group in the works

In case you thought the metaverse was dead… On Friday, the industrial ministry (MIIT) announced it will be forming a metaverse standards working group. Some context: The Metaverse Industry Action Plan – China’s first major national metaverse policy initiative – was released in September. The plan… Username Password Remember Me Forgot Password

In case you thought the metaverse was dead...
On Friday, the industrial ministry (MIIT) announced it will be forming a metaverse standards working group.
Some context: The Metaverse Industry Action Plan – China’s first major national metaverse policy initiative – was released in September.

The plan...

sources

MIIT: 元宇宙标准化工作组组建方案公示

January 23, 2024

Zoning out on data exports

China’s strategy to untangle the cross-border data compliance mess is coming into focus. And free-trade zones (FTZs) are at the center of the strategy. Some context: China’s new cross-border data transfer rules are making it difficult to do business. Beijing has vowed to find a solution – and we’…

China's strategy to untangle the cross-border data compliance mess is coming into focus.

And free-trade zones (FTZs) are at the center of the strategy.

Some context: China's new cross-border data transfer rules are making it difficult to do business.

Beijing has vowed to find a solution – and we'...

sources

Yicai: 上海临港今年将发布一批数据跨境流动清单，首批最早在3月份

Shanghai Gov: 临港有望3月推出首批跨境数据清单试行管理办法发布以企业需求场景为切入口推进一般数据清单和重要数据目录编制

January 22, 2024

China’s four key structural challenges in 2024

To view PDF, click here. Exec summary After Beijing abandoned the disruptive zero-COVID policy in December 2022, it was widely anticipated that domestic consumption would rebound, and the property sector would stabilize after an 18-month downturn. While dismantling zero-COVID may have ended China’s…

To view PDF, click here.
Exec summary

After Beijing abandoned the disruptive zero-COVID policy in December 2022, it was widely anticipated that domestic consumption would rebound, and the property sector would stabilize after an 18-month downturn.
While dismantling zero-COVID may have ended China’s...

January 22, 2024

More mechanisms to manage mayhem

Beijing and Washington are finally talking ag again. Minister of Agriculture Tang Renjian landed in Washington on Thursday to co-chair a Joint Committee on Cooperation in Agriculture (JCCA) meeting with his US counterpart, ag secretary Tom Vilsack. ICYDK: The JCCA was set up in 2003 to coordinate a…

Beijing and Washington are finally talking ag again.
Minister of Agriculture Tang Renjian landed in Washington on Thursday to co-chair a Joint Committee on Cooperation in Agriculture (JCCA) meeting with his US counterpart, ag secretary Tom Vilsack.
ICYDK: The JCCA was set up in 2003 to coordinate a...

sources

CGTN: China, U.S. restart agricultural cooperation mechanism

USDA: Statement from Agriculture Secretary Tom Vilsack on Meeting with China’s Minister of Agriculture and Rural Affairs Tang Renjian

The Paper: 商务部部长：今年中方将与美方加强对话，为企业提供稳定预期

January 22, 2024

Re-industrializing and de-dollarizing

Beijing wants to help Brazil rebuild its industrial base. On Friday, Foreign Minister Wang Yi met with Brazilian President Luiz Inácio Lula da Silva in the northeastern Brazilian city of Fortaleza. Some context: China’s 2001 accession to the WTO accelerated Brazil’s dramatic industrial decline, maki…

Beijing wants to help Brazil rebuild its industrial base.
On Friday, Foreign Minister Wang Yi met with Brazilian President Luiz Inácio Lula da Silva in the northeastern Brazilian city of Fortaleza.
Some context: China's 2001 accession to the WTO accelerated Brazil's dramatic industrial decline, maki...

sources

MoFA: 巴西总统卢拉会见王毅

January 22, 2024

Honoring the best?

Beijing is going about its quest to boost innovation all wrong. On Friday, the Party’s Central Committee and the State Council unveiled the inaugural “National Engineer Awards,” recognizing 81 engineers and 50 engineering teams from various companies and research laboratories for their outstan…

Beijing is going about its quest to boost innovation all wrong.
On Friday, the Party's Central Committee and the State Council unveiled the inaugural "National Engineer Awards," recognizing 81 engineers and 50 engineering teams from various companies and research laboratories for their outstan...

sources

Xinhua: 受权发布｜中共中央国务院关于表彰国家卓越工程师和国家卓越工程师团队的决定

Xinhua: 习近平在“国家工程师奖”首次评选表彰之际作出重要指示

January 22, 2024

Rates remain unchanged

Benchmark lending rates in China remained unchanged Monday, despite expectations of monetary policy easing. The details: On Monday, the People’s Bank of China (PBoC) released monthly loan prime rates (LPRs). The one-year LPR – the benchmark for pricing corporate loans – remained at 3.45%. The five-…

The one-year LPR – the benchmark for pricing corporate loans – remained at 3.45%.
The five-...

sources

PBoC: 2024年1月22日全国银行间同业拆借中心受权公布贷款市场报价利率（LPR）公告

PBoC: 全国银行间同业拆借中心受权发布贷款市场报价利率报价行调整公告

January 22, 2024

Getting a clearer picture

Central authorities have quietly launched a system to track the extent of hidden local government debt. And now the legislature is pushing localities to ramp up disclosures. Back up: A June 2023 National Audit Office (NAO) report called out 49 local governments for illegally promising guaranteed …

Central authorities have quietly launched a system to track the extent of hidden local government debt.

And now the legislature is pushing localities to ramp up disclosures.

Back up: A June 2023 National Audit Office (NAO) report called out 49 local governments for illegally promising guaranteed ...

sources

NPCSC: 对2022年度中央预算执行和其他财政收支审计查出问题整改情况报告的意见和建议

NAO: 有关部门对审计查出突出问题的整改情况

January 22, 2024

Vouching for success

Housing vouchers could be vital in stimulating China’s property market. In 2023, over 50 cities offered vouchers to compensate homeowners whose properties were demolished under initiatives like urban village upgrading (The Paper). These vouchers can be used to purchase new homes, and typically carr…

Housing vouchers could be vital in stimulating China's property market.
In 2023, over 50 cities offered vouchers to compensate homeowners whose properties were demolished under initiatives like urban village upgrading (The Paper).

These vouchers can be used to purchase new homes, and typically carr...

sources

The Paper: 去年以来超50城推出房票安置政策：有什么目的，效果如何？

Yicai: 多地城中村改造推“房票安置”，业界为何说对去库存影响有限

January 22, 2024

A short is a guy who can’t get no love from me

Another day, another (likely futile) attempt to boost Chinese share prices. The latest: On Thursday, Bloomberg scooped that Citic Securities – China’s largest broker – is tightening restrictions on short selling, as the securities regulator (CSRC) pressures brokers to reduce selling in equities mark…

Another day, another (likely futile) attempt to boost Chinese share prices.
The latest: On Thursday, Bloomberg scooped that Citic Securities – China’s largest broker – is tightening restrictions on short selling, as the securities regulator (CSRC) pressures brokers to reduce selling in equities mark...

sources

Bloomberg: China’s Biggest Broker Curbs Short Sales After Stock Rout

January 22, 2024

Who’s in the driver’s seat?

Regulators are finally getting serious about new energy vehicle (NEV) overcapacity. The latest: On Friday, Vice Minister of Industry and Information Technology Xin Guobin warned that NEV production is outstripping demand and “disorderly competition behaviors” are inhibiting industry profitability. X…

Regulators are finally getting serious about new energy vehicle (NEV) overcapacity.
The latest: On Friday, Vice Minister of Industry and Information Technology Xin Guobin warned that NEV production is outstripping demand and "disorderly competition behaviors" are inhibiting industry profitability.
X...

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SCIO: 国新办举行2023年工业和信息化发展情况新闻发布会图文实录

January 20, 2024

Data trading by credit

How do you build a trustworthy data trading market? By using the social credit system, of course. We just finished reading Jilin’s new provincial regulations governing big data, released in December, and effective as of January 1. The regulations outline the rights and responsibilities of individ…

How do you build a trustworthy data trading market?

By using the social credit system, of course.

We just finished reading Jilin's new provincial regulations governing big data, released in December, and effective as of January 1.

The regulations outline the rights and responsibilities of individ...

sources

Jilin.gov: 吉林省大数据条例

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