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Macro

January 18, 2024

Seeking safety

On Wednesday, Foreign Minister Wang Yi touched down in Togo. ICYDK: Since 1991, China’s foreign minister has kicked off every year with a multi-country tour of Africa. For more than a decade, that foreign minister has been Wang Yi – with the exception of last year, when short-lived FM Qin Gang… Username Password Remember Me … Read More »

On Wednesday, Foreign Minister Wang Yi touched down in Togo.
ICYDK: Since 1991, China’s foreign minister has kicked off every year with a multi-country tour of Africa.

For more than a decade, that foreign minister has been Wang Yi – with the exception of last year, when short-lived FM Qin Gang...

sources

Xinhua: China, Togo agree to well implement outcomes of China-Africa cooperation

January 18, 2024

One is silver and the other’s old

The state’s efforts to prepare for an aging population continue. On Monday, the State Council General Office released a new policy designed to bolster China’s “silver economy” by improving products and services designed for the elderly. That includes things like medical care, social services, and …

The state's efforts to prepare for an aging population continue.
On Monday, the State Council General Office released a new policy designed to bolster China's "silver economy" by improving products and services designed for the elderly.

That includes things like medical care, social services, and ...

sources

Gov.cn: 国务院办公厅关于发展银发经济增进老年人福祉的意见

January 18, 2024

LQ on AI at WEF

‘Tis the season! The global elite are assembled at the World Economic Forum (WEF) in Davos. That includes Premier Li Qiang, who delivered a wide-ranging address on China’s economy and development goals. What caught our eye: As part of his Davos agenda, Li sat down for a Q&A with the impresario…

‘Tis the season! The global elite are assembled at the World Economic Forum (WEF) in Davos.

That includes Premier Li Qiang, who delivered a wide-ranging address on China’s economy and development goals.

What caught our eye: As part of his Davos agenda, Li sat down for a Q&A with the impresario...

sources

Caixin: 李强达沃斯谈AI监管：要以人类的善治，促使新技术成为“善智”

Caixin: 李强达沃斯特别演讲详尽阐释中国当前经济形势与发展潜力

January 18, 2024

Meritocratax

More tax incentives for research and development are coming. That’s the message from Wang Shiyu, director of the tax bureau’s (STA) income tax department, in an a state media interview on Monday. Some context: In March 2023, the State Council raised the tax deduction rate for R&D spending fr…

More tax incentives for research and development are coming.

That’s the message from Wang Shiyu, director of the tax bureau’s (STA) income tax department, in an a state media interview on Monday.

Some context: In March 2023, the State Council raised the tax deduction rate for R&D spending fr...

sources

Gov.cn: 税务讲堂：2023年研发费用税前加计扣除新政解读

CPC People: 不折不扣落实好结构性减税降费政策——国家税务总局有关负责人谈落实中央经济工作会议精神

January 17, 2024

Monthly property roundup: Getting the financing right for affordable housing

To view the roundup as a PDF, click here. The rundown For over a year, China’s authorities have tried and failed to revive demand for commercial housing. So this year, they’re trying something new. 2024 will be all about affordable housing. Over the past month, we’ve started seeing moves to make a…

To view the roundup as a PDF, click here.
The rundown
For over a year, China's authorities have tried and failed to revive demand for commercial housing. So this year, they're trying something new.

2024 will be all about affordable housing.

Over the past month, we've started seeing moves to make a...

January 17, 2024

To sell or not to sell

China’s securities regulator (CSRC) is sending mixed messages vis-à-vis how much share selling institutional investors can undertake. The latest: On Monday, the FT scooped that investors are being told (again) to avoid net selling stocks on certain days. That’s a change of heart: Last week, Reuters …

China's securities regulator (CSRC) is sending mixed messages vis-à-vis how much share selling institutional investors can undertake.
The latest: On Monday, the FT scooped that investors are being told (again) to avoid net selling stocks on certain days.
That’s a change of heart: Last week, Reuters ...

sources

FT: Beijing tells some investors not to sell as Chinese stock rout resumes

January 17, 2024

Ending the year on a false positive

China saw a decent print in the econ data for the month of December, which was released Wednesday by the stats bureau, but that was overshadowed by a growing supply-demand mismatch across the economy. The figures: Retail sales grew 7.4% y/y in December, down from 10.1% growth in November. Industria…

Retail sales grew 7.4% y/y in December, down from 10.1% growth in November.
Industria...

sources

Stats.gov.cn: 2023年12月份社会消费品零售总额增长7.4%

Stats.gov.cn: 2023年12月份规模以上工业增加值增长6.8%

January 17, 2024

No sugarcoating

There’s no point sugarcoating it – China’s economy underperformed in 2023. Per data released by the stats bureau (NBS) on Wednesday: Real GDP officially expanded by 5.2% y/y in Q4 2023, up from 4.9% in Q3. Growth for the whole of 2023 also clocked in at 5.2% y/y, surpassing Beijing’s growth target …

There’s no point sugarcoating it – China’s economy underperformed in 2023.
Per data released by the stats bureau (NBS) on Wednesday:

Real GDP officially expanded by 5.2% y/y in Q4 2023, up from 4.9% in Q3.
Growth for the whole of 2023 also clocked in at 5.2% y/y, surpassing Beijing’s growth target ...

sources

Stats.gov.cn: 2023年国民经济回升向好高质量发展扎实推进

January 17, 2024

Past the peak, over the hill

China’s population continued to decline in 2023. On Wednesday, the stats bureau (NBS) reported that the population fell to 1.409 billion people over the year – a drop of around 2.08 million. It’s the second straight year the population has fallen – and this year’s drop was more significant: The bir…

China's population continued to decline in 2023.
On Wednesday, the stats bureau (NBS) reported that the population fell to 1.409 billion people over the year – a drop of around 2.08 million.
It's the second straight year the population has fallen – and this year's drop was more significant:

The bir...

sources

Reuters: China's population drops for 2nd year, raises long-term growth concerns

Yicai: 人口减少“祸福”并存，权威报告建议这样趋利避害

NBS: 2023年国民经济回升向好高质量发展扎实推进

January 17, 2024

One-stop shop

Authorities want to improve government services for businesses and individuals. On Tuesday, the State Council released a set of 18 measures to do just that. We saw this coming: The State Council reviewed the measures at their January 5 executive meeting. Among other things, the measures call on offi…

Authorities want to improve government services for businesses and individuals.
On Tuesday, the State Council released a set of 18 measures to do just that.
We saw this coming: The State Council reviewed the measures at their January 5 executive meeting.
Among other things, the measures call on offi...

sources

Gov.cn: 国务院关于进一步优化政务服务提升行政效能推动“高效办成一件事”的指导意见

January 17, 2024

Are you there Von? It’s me, Li.

Premier Li Qiang wants the EU to hear him out. On Tuesday, Li met with European Commission President Ursula von der Leyen on the sidelines of the World Economic Forum’s annual meeting in Davos. ICYMI: The pair met last month at the 24th EU-China Summit in Beijing. That meeting failed to produce bre…

Premier Li Qiang wants the EU to hear him out.
On Tuesday, Li met with European Commission President Ursula von der Leyen on the sidelines of the World Economic Forum’s annual meeting in Davos.
ICYMI: The pair met last month at the 24th EU-China Summit in Beijing.

That meeting failed to produce bre...

sources

Xinhua: Chinese premier says China to stay committed to partnership with EU

World Economic Forum: Ursula von der Leyen's speech to Davos in full

January 17, 2024

Come on in (the water’s freezing)

The door is open to foreign financial institutions (FIs) to set up shop in China. In his Tuesday speech at the Central Party School, Xi said: “We must place a priority on…advancing high-level financial openness.” “[This involves] implementing a system that grants pre-entry national treatment…and al…

The door is open to foreign financial institutions (FIs) to set up shop in China.
In his Tuesday speech at the Central Party School, Xi said:

“We must place a priority on…advancing high-level financial openness.”
“[This involves] implementing a system that grants pre-entry national treatment…and al...

sources

Xinhua: 习近平在省部级主要领导干部推动金融高质量发展专题研讨班开班式上发表重要讲话

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