string(13) "markets-macro"

Macro

December 12, 2023

Brussels and Beijing agree to figure out cross-border data flows

European Commission President Ursula von der Leyen said Chinese leaders have agreed to help EU companies solve cross-border data flow issues. That’s one of several outcomes of the recent EU-China leaders’ summit, held Thursday. Some context: The rollout of China’s data security regime has been mes… Username Password Remember Me Forgot Password

European Commission President Ursula von der Leyen said Chinese leaders have agreed to help EU companies solve cross-border data flow issues.

That’s one of several outcomes of the recent EU-China leaders’ summit, held Thursday.

Some context: The rollout of China’s data security regime has been mes...

sources

Caixin: 欧委会主席：中欧在跨境数据流动规则上取得进展

European Commission: Statement by President von der Leyen at the joint press conference with President Michel following the EU-China Summit

December 12, 2023

Chongqing wants e-commerce companies to go out

On Friday, the Chongqing government released measures to support cross-border ecommerce development in the city. Some context: Chongqing is a small player in e-commerce, accounting for roughly 2% of China’s total e-commerce transactions. Still, the city is setting its sights on becoming a hub for…

On Friday, the Chongqing government released measures to support cross-border ecommerce development in the city.
Some context: Chongqing is a small player in e-commerce, accounting for roughly 2% of China’s total e-commerce transactions.

Still, the city is setting its sights on becoming a hub for...

sources

Gov.cn: 重庆市人民政府办公厅关于印发《重庆市推进跨境电商高质量发展若干措施》的通知

Gov.cn: 中国跨境电商年进出口规模首次突破2万亿元

China Daily: 关注西洽会｜第二届中国（重庆）跨境电商发展高峰论坛在渝举行

December 11, 2023

SAFE-ly landed

On Friday, Zhu Hexin became the new head of China’s forex regulator (SAFE). Zhu, 55, was appointed by the State Council, replacing central bank (PBoC) governor, Pan Gongsheng, 60. No surprise here: Zhu already took over as SAFE Party secretary in late November. He was also concurrently appointed as …

On Friday, Zhu Hexin became the new head of China’s forex regulator (SAFE).
Zhu, 55, was appointed by the State Council, replacing central bank (PBoC) governor, Pan Gongsheng, 60.
No surprise here: Zhu already took over as SAFE Party secretary in late November.
He was also concurrently appointed as ...

sources

Xinhua: 国务院任免国家工作人员

December 11, 2023

How low can you go?

China’s securities regulator (CSRC) wants trading commissions to be as low as possible. The latest: On Friday, the CSRC released draft regulations to strengthen oversight of public securities funds. Some context: Since the Politburo called to “enliven capital markets” in late July, financial regulat…

China's securities regulator (CSRC) wants trading commissions to be as low as possible.
The latest: On Friday, the CSRC released draft regulations to strengthen oversight of public securities funds.
Some context: Since the Politburo called to “enliven capital markets” in late July, financial regulat...

sources

CSRC: 关于加强公开募集证券投资基金证券交易管理的规定（征求意见稿）

December 11, 2023

Concerning deflation

China’s bad inflation print is worrying. Here’s why: Falling prices can dampen household consumption. If consumers expect prices to fall, they will delay the purchase of non-essential goods. The average price of consumer goods in November was 2% lower than in January. If this trend continues, China…

China’s bad inflation print is worrying. Here’s why:
Falling prices can dampen household consumption. If consumers expect prices to fall, they will delay the purchase of non-essential goods.

The average price of consumer goods in November was 2% lower than in January.
If this trend continues, China...

December 11, 2023

Build now, destroy later

China’s leader are going for growth in 2024. That’s our reading of this line from Friday’s Politburo meeting on the economy: “Next year, we must adhere to the principle of seeking progress while maintaining stability, and use progress to promote stability.” Why that’s important: It is the first ti…

China's leader are going for growth in 2024.
That’s our reading of this line from Friday’s Politburo meeting on the economy:

"Next year, we must adhere to the principle of seeking progress while maintaining stability, and use progress to promote stability."

Why that's important: It is the first ti...

sources

Xinhua: 中共中央政治局召开会议分析研究2024年经济工作研究部署党风廉政建设和反腐败工作审议《中国共产党纪律处分条例》中共中央总书记习近平主持会议

December 11, 2023

Help me if you can I’m feeling down

November’s inflation data – released by the stats bureau (NBS) Saturday – paints a grim picture: The consumer price index (CPI) fell 0.5% y/y, following a 0.2% fall in October and marking the second consecutive month of negative growth. The producer price index (PPI) fell 3% y/y, down from a 2.6% f…

November’s inflation data – released by the stats bureau (NBS) Saturday – paints a grim picture:

The consumer price index (CPI) fell 0.5% y/y, following a 0.2% fall in October and marking the second consecutive month of negative growth.
The producer price index (PPI) fell 3% y/y, down from a 2.6% f...

sources

Stats.gov.cn: 2023年11月份居民消费价格同比下降0.5% 环比下降0.5%

December 11, 2023

Buy me a river

Beijing isn’t interested in addressing the concerns of neighboring Mekong states. On Thursday, China’s top diplomat, Wang Yi, chaired the eighth Lancang-Mekong Cooperation (LMC) Foreign Ministers’ Meeting. Some context: China’s third-largest utility, Huaneng, has built numerous large-scale hydropowe…

Beijing isn't interested in addressing the concerns of neighboring Mekong states.
On Thursday, China’s top diplomat, Wang Yi, chaired the eighth Lancang-Mekong Cooperation (LMC) Foreign Ministers’ Meeting.
Some context: China’s third-largest utility, Huaneng, has built numerous large-scale hydropowe...

sources

People.cn: Lancang-Mekong nations pledge unity, greater links

December 11, 2023

Preparing the naughty list

As it does every December, Friday’s Politburo meeting discussed anti-corruption priorities for the year ahead. The terse readout didn’t contain much of substance. But this line caught our eye: “[We must] carry out special rectification of prominent corruption issues in certain industries, systems, …

As it does every December, Friday’s Politburo meeting discussed anti-corruption priorities for the year ahead.
The terse readout didn’t contain much of substance.
But this line caught our eye:

“[We must] carry out special rectification of prominent corruption issues in certain industries, systems, ...

sources

CPC People: 中共中央政治局召开会议分析研究2024年经济工作研究部署党风廉政建设和反腐败工作审议《中国共产党纪律处分条例》中共中央总书记习近平主持会议

Nikkei: China clamps down on financial graft, quadrupling probes in 3 years

December 9, 2023

Anti-monopoly enforcement chills out

This is what “normalized” regulation looks like. On Wednesday, China’s market regulator (SAMR) released a policy designed to standardize anti-monopoly enforcement. The policy itself wasn’t that exciting. It essentially outlines the four types of standard notices that regulators might send to compan…

This is what "normalized" regulation looks like.
On Wednesday, China's market regulator (SAMR) released a policy designed to standardize anti-monopoly enforcement.
The policy itself wasn't that exciting. It essentially outlines the four types of standard notices that regulators might send to compan...

sources

SAMR: 国务院反垄断反不正当竞争委员会办公室市场监管总局关于建立反垄断“三书一函”制度的通知

December 9, 2023

Get that data outta here

Policymakers want to improve cross-border data flows in China’s favorite free-trade zone (FTZ). But they may not succeed. On Thursday, the State Council released an 80-point plan to better align the Shanghai FTZ’s trade and investment rules with international standards. Get excited: The plan …

Policymakers want to improve cross-border data flows in China's favorite free-trade zone (FTZ).

But they may not succeed.

On Thursday, the State Council released an 80-point plan to better align the Shanghai FTZ’s trade and investment rules with international standards.
Get excited: The plan ...

sources

Gov.cn: 国务院关于印发《全面对接国际高标准经贸规则推进中国（上海）自由贸易试验区高水平制度型开放总体方案》的通知

December 9, 2023

Harmony in the app ecosystem

Huawei’s efforts to challenge Android and iOS are on a tear so far. On Thursday, SCMP reported that McDonald’s will partner with Huawei to build a native app for HarmonyOS. That makes McDonald’s among the first foreign-owned companies to jump on the new HarmonyOS bandwagon. Background: In November…

Huawei's efforts to challenge Android and iOS are on a tear so far.
On Thursday, SCMP reported that McDonald's will partner with Huawei to build a native app for HarmonyOS.

That makes McDonald's among the first foreign-owned companies to jump on the new HarmonyOS bandwagon.

Background: In November...

sources

SCMP: McDonald’s China pushes development of native apps based on HarmonyOS, as adoption of Huawei’s mobile operating system accelerates

SCMP: Chinese fintech giant Ant Group, Huawei to build HarmonyOS-based Alipay app amid growing adoption of home-grown operating system

Counterpoint Research: Global Smartphone Sales Share by Operating System

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