string(13) "markets-macro"

Macro

January 16, 2024

This again?

Tesla refuses to let the new energy vehicle (NEV) price war die. On Friday, Tesla cut prices for the first time since August – part of its longstanding bid to boost market share. The entry-level and dual-motor versions of the Model 3 got 5.9% and 3.9% discounts, respectively. The entry-level and du… Username Password Remember… Read More »

Tesla refuses to let the new energy vehicle (NEV) price war die.
On Friday, Tesla cut prices for the first time since August – part of its longstanding bid to boost market share.

The entry-level and dual-motor versions of the Model 3 got 5.9% and 3.9% discounts, respectively.
The entry-level and du...

sources

SCMP: Tesla cuts prices in China on Model 3 and Model Y EVs to keep commanding lead in premium segment of fast-growing market

January 16, 2024

Not beyond redemption

Local governments are using the proceeds from refinancing bonds to pay down local government financing vehicle (LGFV) bonds ahead of schedule. ICYMI: Since October, provincial governments have issued refinancing bonds to repay “hidden debt” – debt borrowed by LGFVs and other state firms for which lo…

Local governments are using the proceeds from refinancing bonds to pay down local government financing vehicle (LGFV) bonds ahead of schedule.
ICYMI: Since October, provincial governments have issued refinancing bonds to repay “hidden debt” – debt borrowed by LGFVs and other state firms for which lo...

sources

Yicai: 城投债提前兑付加速，投资者面临博弈

January 16, 2024

On Our Radar | How will the mainland respond?

The most important upcoming developments for policy and politics in China over the next month key developments politics Taiwan Affairs Work Conference (before Lunar New Year) Announcement of a date for the Third Plenum (late January) econ and f…

The most important upcoming developments for policy and politics in China over the next month
key developments
politics

Taiwan Affairs Work Conference (before Lunar New Year)
Announcement of a date for the Third Plenum (late January)

econ and f...

January 16, 2024

Work smart, not hard

Cities are turning empty apartments into affordable housing, with funding support from the central bank (PBoC). The latest: In recent weeks, Tianjin has received RMB 1.29 billion in funds from the PBoC to convert 2,600 idle units (Tianjin Daily). Likewise, Qingdao has received RMB 1.85 billion to r…

Cities are turning empty apartments into affordable housing, with funding support from the central bank (PBoC).
The latest: In recent weeks, Tianjin has received RMB 1.29 billion in funds from the PBoC to convert 2,600 idle units (Tianjin Daily).

Likewise, Qingdao has received RMB 1.85 billion to r...

sources

Tianjin Daily: 城市更新计划改造老旧社区70个

PBoC: 青岛市首批租赁住房贷款支持计划试点贷款落地

Economic Observer: 8个试点城市获低息贷款收购存量商品房用作保租房

January 16, 2024

Plugging in a new mechanism

Local officials are set to take a more hands-on approach to increasing funding for China’s property developers. On Friday, the housing ministry (MoHURD) and the financial regulator (NFRA) issued a joint notice instructing local authorities to develop “mechanisms” to better coordinate financial insti…

Local officials are set to take a more hands-on approach to increasing funding for China's property developers.
On Friday, the housing ministry (MoHURD) and the financial regulator (NFRA) issued a joint notice instructing local authorities to develop “mechanisms” to better coordinate financial insti...

sources

MoHURD: 住房城乡建设部　金融监管总局关于建立城市房地产融资协调机制的通知

January 15, 2024

Don’t rock the bilateral boat

China is desperate to avoid a political fallout with Belgium. Belgian Prime Minister Alexander De Croo met with Xi Jinping and Premier Li Qiang on Friday in Beijing. Some context: Belgium holds the rotating EU presidency until June. That gives it greater influence in shaping EU policy initiatives re…

China is desperate to avoid a political fallout with Belgium.
Belgian Prime Minister Alexander De Croo met with Xi Jinping and Premier Li Qiang on Friday in Beijing.
Some context: Belgium holds the rotating EU presidency until June. That gives it greater influence in shaping EU policy initiatives re...

sources

Gov.cn: 习近平会见比利时首相德克罗

MoFA: 李强同比利时首相德克罗会谈

FT: Belgium opens criminal probe into suspected Chinese spy

Politico: How to navigate Belgium's EU presidency policy agenda like a pro

SCMP: Belgian prime minister meets Xi Jinping in Beijing, vows to oppose decoupling

Politico: Belgian PM faces high-wire act in China as EU, Taiwan fears intrude

January 15, 2024

Xi tells cops to give businesses some love

Xi Jinping wants law enforcement agencies to improve the business environment. On Sunday, the Party concluded its two-day Central Political and Legal Affairs Work Conference (CPLAWC) in Beijing. ICYDK: The CPLAWC is the Party’s annual planning session on law enforcement work. All the bigwigs attend…

Xi Jinping wants law enforcement agencies to improve the business environment.
On Sunday, the Party concluded its two-day Central Political and Legal Affairs Work Conference (CPLAWC) in Beijing.
ICYDK: The CPLAWC is the Party’s annual planning session on law enforcement work.

All the bigwigs attend...

sources

Gov.cn: 近平对政法工作作出重要指示强调：坚持党的绝对领导忠诚履职担当作为为全面推进强国建设民族复兴伟业提供坚强安全保障

January 15, 2024

Operation Red Sea

Beijing is attempting to leverage the situation in the Middle East to build its reputation in the Global South. ICYMI: The US and UK launched military strikes on Yemen’s Houthi rebels last week, in response to attacks on cargo ships crossing the Red Sea. On Sunday, while on a visit to Egypt, top d…

Beijing is attempting to leverage the situation in the Middle East to build its reputation in the Global South.
ICYMI: The US and UK launched military strikes on Yemen’s Houthi rebels last week, in response to attacks on cargo ships crossing the Red Sea.
On Sunday, while on a visit to Egypt, top d...

sources

MoFA: 王毅就红海紧张局势表明立场

January 15, 2024

Go ahead, make my day

Just because Beijing is feeling vindicated by the Taiwan election results doesn’t mean the world is out of the woods. Multiple developments could yet spark Beijing’s ire. The key lies with Lai: Lai Ching-te has a history of making comments that set the mainland’s teeth on edge. How Lai approaches…

Just because Beijing is feeling vindicated by the Taiwan election results doesn’t mean the world is out of the woods.

Multiple developments could yet spark Beijing's ire.

The key lies with Lai: Lai Ching-te has a history of making comments that set the mainland’s teeth on edge.

How Lai approaches...

sources

The Guardian: Taiwan election: global leaders draw Beijing’s ire for congratulating new president

MoFA: 外交部发言人就美国国务院关于中国台湾地区选举的声明发表谈话

January 15, 2024

Coulda been worse

The mainland isn’t totally displeased with Saturday’s election results in Taiwan. Despite a distinctly sub-optimal Lai Ching-te victory, Beijing can point to a slide in the Democratic Progressive Party’s (DPP) overall electoral performance as proof of rising dissatisfaction with DPP rule. ICYMI: Lai…

The mainland isn’t totally displeased with Saturday’s election results in Taiwan.
Despite a distinctly sub-optimal Lai Ching-te victory, Beijing can point to a slide in the Democratic Progressive Party’s (DPP) overall electoral performance as proof of rising dissatisfaction with DPP rule.
ICYMI: Lai...

sources

Taiwan Affairs Office: 外交部发言人就美国国务院关于中国台湾地区选举的声明发表谈话

MoFA: 王毅阐明中方关于台湾局势严正立场

January 15, 2024

A Lai in the ointment

Beijing’s not going to like this. On Saturday, Democratic Progressive Party (DPP) candidate William Lai won the Taiwanese leadership election. ICYDK: The election was a three-way race between Lai, the Kuomintang’s (KMT) Hou Yu-ih, and the Taiwan People’s Party’s (TPP) Ko Wen-je. Beijing had hoped e…

Beijing’s not going to like this.
On Saturday, Democratic Progressive Party (DPP) candidate William Lai won the Taiwanese leadership election.
ICYDK: The election was a three-way race between Lai, the Kuomintang’s (KMT) Hou Yu-ih, and the Taiwan People’s Party’s (TPP) Ko Wen-je.

Beijing had hoped e...

sources

Bloomberg: Taiwan Election Live Results

Bloomberg: DPP's Lai Speaks After Taiwan Presidential Election Victory

January 13, 2024

One step closer to data taxes

If it has value, it can be taxed! Yesterday, the Ministry of Finance (MoF) released high-level Opinions on “strengthening the management of data assets.” Some context: China’s policymakers are on a mission to lay the legal and regulatory groundwork for China’s future data trading market. As part of…

If it has value, it can be taxed!
Yesterday, the Ministry of Finance (MoF) released high-level Opinions on “strengthening the management of data assets.”
Some context: China's policymakers are on a mission to lay the legal and regulatory groundwork for China's future data trading market.

As part of...

sources

Gov.cn: 关于加强数据资产管理的指导意见

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