string(13) "markets-macro"

Macro

January 13, 2024

Subbing in industry

If governments can’t do it, maybe companies and experts can? On Thursday, the Financial Times reported that AI experts from the US and China met in Geneva for private talks on managing cross-border AI development in July and October of last year. The interesting bit: Companies, experts, and institu… Username Password Remember Me … Read More »

If governments can't do it, maybe companies and experts can?
On Thursday, the Financial Times reported that AI experts from the US and China met in Geneva for private talks on managing cross-border AI development in July and October of last year.
The interesting bit: Companies, experts, and institu...

sources

FT: US companies and Chinese experts engaged in secret diplomacy on AI safety

January 13, 2024

Expediting data exports

Calling all pharmaceutical companies: We’ve got good news. The CAC isn’t the only agency you can call for help exporting your data. According to an article published by Beijing Daily on Tuesday, you can also ring the Beijing Daxing FTZ Pilot Zone Cross-border Data Service Center. Run under the gui…

Calling all pharmaceutical companies: We've got good news.

The CAC isn’t the only agency you can call for help exporting your data.

According to an article published by Beijing Daily on Tuesday, you can also ring the Beijing Daxing FTZ Pilot Zone Cross-border Data Service Center.
Run under the gui...

sources

People.cn: 北京率先实现数据跨境安全便捷流动

January 13, 2024

Livestreaming finds a hire purpose

Ever wish you could find a new job while doom-scrolling on Bilibili? China’s human resource ministry (MoHRSS) has you covered. On Thursday, MoHRSS issued a policy to promote the use of livestreaming for employers and recruiters. Some background: In recent years, companies have begun to use livestr…

Ever wish you could find a new job while doom-scrolling on Bilibili?

China's human resource ministry (MoHRSS) has you covered.

On Thursday, MoHRSS issued a policy to promote the use of livestreaming for employers and recruiters.
Some background: In recent years, companies have begun to use livestr...

sources

MoHRSS: 人力资源社会保障部办公厅关于推进直播带岗在就业公共服务领域应用的通知

January 12, 2024

Polar bear club

Beijing and Helsinki just checked in on a super-sensitive geopolitical issue. On Wednesday, Xi Jinping caught up with Finland’s President Sauli Niinisto via videolink. Per China’s readout, the big guy hailed the two countries’ cooperation on food, energy, and forestry trade, and in fields like envi…

Beijing and Helsinki just checked in on a super-sensitive geopolitical issue.
On Wednesday, Xi Jinping caught up with Finland's President Sauli Niinisto via videolink.

Per China's readout, the big guy hailed the two countries' cooperation on food, energy, and forestry trade, and in fields like envi...

sources

Gov.cn: 习近平同芬兰总统尼尼斯托举行视频会晤

Reuters: Finnish, Chinese presidents discussed pipeline damage, Finland says

January 12, 2024

Hard work getting working group to work

On Thursday, Minister of Commerce Wang Wentao phoned his US counterpart Gina Raimondo. Top of the agenda: Preparing for an upcoming in-person meeting of the bilateral commercial issues working group set up in August. The pair quickly reverted to a familiar pattern of talking past each other.&n…

On Thursday, Minister of Commerce Wang Wentao phoned his US counterpart Gina Raimondo.
Top of the agenda: Preparing for an upcoming in-person meeting of the bilateral commercial issues working group set up in August.
The pair quickly reverted to a familiar pattern of talking past each other.&n...

sources

MofCom: 王文涛部长与美国商务部长雷蒙多举行通话

US Commerce Department: Readout of Secretary Raimondo’s Meeting with Minister of Commerce of China Wang Wentao

January 12, 2024

Xi’s “special forces” set targets

The National Audit Office (NAO) will step up auditing of economic policies. That’s according to the NAO’s agenda for 2024, which the agency laid out at its annual work conference Thursday. ICYDK: The NAO has become more powerful in recent years. The NAO reports directly to Xi Jinping following the …

The National Audit Office (NAO) will step up auditing of economic policies.
That's according to the NAO's agenda for 2024, which the agency laid out at its annual work conference Thursday.
ICYDK: The NAO has become more powerful in recent years.

The NAO reports directly to Xi Jinping following the ...

sources

NAO: 全国审计工作会议在北京召开

January 12, 2024

PBoC ups its fix

China’s central bank (PBoC) continues to dabble with currency intervention, but officials will largely stay on the sidelines in the months ahead. On Thursday, the PBoC set the daily fix for USD/CNY at the strongest level since mid-November. The fix came in at 7.1087, or 609 pips stronger than the 7…

China's central bank (PBoC) continues to dabble with currency intervention, but officials will largely stay on the sidelines in the months ahead.
On Thursday, the PBoC set the daily fix for USD/CNY at the strongest level since mid-November.

The fix came in at 7.1087, or 609 pips stronger than the 7...

sources

CFETS: 人民币汇率中间价

Marketwatch: U.S. Dollar Index (DXY)

Bloomberg: PBOC Provides Strongest Boost to Yuan Via Fixing Since November

January 12, 2024

It’s downhill from here

China’s NEV market is red hot, but it may be cooling. First, the good news: China’s annual passenger vehicle sales grew 5.6% in 2023, buoyed by a 36.2% rise in new energy vehicle (NEV) sales. That’s according to the China Passenger Car Association (CPCA), which reported 2023 car sales of nearly 21….

China's NEV market is red hot, but it may be cooling.
First, the good news: China's annual passenger vehicle sales grew 5.6% in 2023, buoyed by a 36.2% rise in new energy vehicle (NEV) sales.

That's according to the China Passenger Car Association (CPCA), which reported 2023 car sales of nearly 21....

sources

Xinhua: 乘联会：2023年全国新能源乘用车零售同比增长36.2%

January 12, 2024

Credit lacks confidence

Robust headline credit growth in December belies ongoing weak demand for loans among firms and households. The details: China’s central bank (PBoC) released monthly credit data for December on Friday. The outstanding value of total social financing (TSF) grew 9.5% y/y in December, compared to 9.4% …

Robust headline credit growth in December belies ongoing weak demand for loans among firms and households.
The details: China's central bank (PBoC) released monthly credit data for December on Friday.

The outstanding value of total social financing (TSF) grew 9.5% y/y in December, compared to 9.4% ...

sources

PBoC: 2023年社会融资规模存量统计数据报告

PBoC: 2023年金融统计数据报告

January 12, 2024

Trade data not as good as it looks

China’s trade performance continued to disappoint in December. Per data released by the customs bureau on Friday: Exports grew 2.3% y/y in December, up from 0.5% growth in November. Imports grew 0.2% y/y, up from a 0.6% y/y drop the previous month. China’s trade surplus increased to USD 75.3 billio…

China’s trade performance continued to disappoint in December.
Per data released by the customs bureau on Friday:

Exports grew 2.3% y/y in December, up from 0.5% growth in November.
Imports grew 0.2% y/y, up from a 0.6% y/y drop the previous month.
China’s trade surplus increased to USD 75.3 billio...

sources

People's Daily: 去年我国货物贸易进出口总值41.76万亿元同比增长0.2%

January 12, 2024

Super duper serious

The next five years are crucial for building a “beautiful China.” Don’t believe us? Just ask Xi Jinping, who said as much in his recently published speech at the once-in-five-year National Ecological and Environmental Protection Conference. On Thursday, the Party Central Committee and the State Cou…

The next five years are crucial for building a "beautiful China."
Don't believe us? Just ask Xi Jinping, who said as much in his recently published speech at the once-in-five-year National Ecological and Environmental Protection Conference.
On Thursday, the Party Central Committee and the State Cou...

sources

Xinhua: 中共中央国务院关于全面推进美丽中国建设的意见

January 12, 2024

Weak demand and cheap pork

Weak demand and cheap pork were responsible for China’s ongoing consumer price deflation in December. Per data released by the stats bureau (NBS) on Friday: The monthly consumer price index (CPI) shrank 0.3% y/y in December, up from a 0.5% drop in November. The December producer price index (PPI) f…

Weak demand and cheap pork were responsible for China's ongoing consumer price deflation in December.
Per data released by the stats bureau (NBS) on Friday:

The monthly consumer price index (CPI) shrank 0.3% y/y in December, up from a 0.5% drop in November.
The December producer price index (PPI) f...

sources

Gov.cn: 统计局解读2022年12月份CPI和PPI数据

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