string(13) "markets-macro"

Macro

December 6, 2023

Three, two, one… takeoff loan

What’s the best way to finance tech startups? Last month, Shenzhen began trialing a new loan program aimed at mid-stage technology companies. Some context: The central government has been angling to boost financing for tech startups – partially by pushing banks to loan to them. But this is a risky… Username Password Remember Me … Read More »

What’s the best way to finance tech startups?
Last month, Shenzhen began trialing a new loan program aimed at mid-stage technology companies.
Some context: The central government has been angling to boost financing for tech startups – partially by pushing banks to loan to them.

But this is a risky...

sources

Caixin: 深圳对高成长期科技企业首创“腾飞贷” 首批六家银行参与

December 6, 2023

Constitutionalism with Xi characteristics

Xi Jinping wants the government to strictly abide by the rule of law. On December 4, National Constitution Day, Xi sent instructions to the national legislature, urging them to: “Persist in advancing the implementation…of the Constitution” ICYDK: Xi has overseen substantial progress in legal int…

Xi Jinping wants the government to strictly abide by the rule of law.
On December 4, National Constitution Day, Xi sent instructions to the national legislature, urging them to:

“Persist in advancing the implementation...of the Constitution”

ICYDK: Xi has overseen substantial progress in legal int...

sources

Gov.cn: 习近平在第十个国家宪法日之际作出重要指示强调：坚定维护宪法权威和尊严推动宪法完善和发展更好发挥宪法在治国理政中的重要作用

December 6, 2023

Antisocial Li

Premier Li Qiang is social distancing from the public. Since taking office in March, Li has met with numerous domestic and foreign business leaders but has been pictured in meetings with the public a total of ZERO times. Contrast that with his predecessor, Li Keqiang: Li Keqiang met members of th…

Premier Li Qiang is social distancing from the public.

Since taking office in March, Li has met with numerous domestic and foreign business leaders but has been pictured in meetings with the public a total of ZERO times.

Contrast that with his predecessor, Li Keqiang:

Li Keqiang met members of th...

sources

Gov.cn: 李克强在黑龙江考察

Gov.cn: 李克强在河北考察

Xinhua: 李强报道专集

December 5, 2023

Holding manufacturers to a higher standard

Premier Li Qiang wants Chinese manufacturers to align with international standards. Li discussed the issue at the State Council executive meeting on Friday. Some context: Chinese products are often made to one of two different standards – one for domestic consumption and one for export. That means …

Premier Li Qiang wants Chinese manufacturers to align with international standards.
Li discussed the issue at the State Council executive meeting on Friday.
Some context: Chinese products are often made to one of two different standards – one for domestic consumption and one for export.

That means ...

sources

Gov.cn: 李强主持召开国务院常务会议听取推动高质量发展综合督查情况汇报等

December 5, 2023

Every little bit helps

For China, friendship with Belarus has its perks. On Monday, Xi Jinping met Belarussian President Aleksandr Lukashenko in Beijing. This is Lukashenko’s second visit to Beijing this year and his ninth trip to China since Xi came to power in late 2012. No word on whether he’ll swing by Peking Univers…

For China, friendship with Belarus has its perks.
On Monday, Xi Jinping met Belarussian President Aleksandr Lukashenko in Beijing.

This is Lukashenko’s second visit to Beijing this year and his ninth trip to China since Xi came to power in late 2012.
No word on whether he’ll swing by Peking Univers...

sources

Xinhua: 习近平会见白俄罗斯总统卢卡申科

Xinhua: Chinese, Belarusian presidents pledge to enhance ties

December 5, 2023

Looking for land in all the right places

Xi Jinping wants to expand China’s farmland stock. Xi said as much in a speech published in the Party journal Qiushi on Thursday. Xi made the speech at the July meeting of the Party’s top economic policymaking body (CCFEA). At the time, we knew Xi told officials that developing rural industries an…

Xi Jinping wants to expand China's farmland stock.
Xi said as much in a speech published in the Party journal Qiushi on Thursday.
Xi made the speech at the July meeting of the Party's top economic policymaking body (CCFEA).

At the time, we knew Xi told officials that developing rural industries an...

sources

Qiushi: 切实加强耕地保护抓好盐碱地综合改造利用

December 5, 2023

Discounting the debt

Local governments are being encouraged to pay down hidden debts at a discount. On Thursday, 21st Century Biz reported that central authorities are asking localities to consider negotiating a discount when repaying high-interest shadow banking loans with refinancing bonds. Refresher: Provincial gover…

Local governments are being encouraged to pay down hidden debts at a discount.
On Thursday, 21st Century Biz reported that central authorities are asking localities to consider negotiating a discount when repaying high-interest shadow banking loans with refinancing bonds.
Refresher: Provincial gover...

sources

21st Century Biz: 化债众生相：拖欠款打折，非标不简单刚兑，债券仍刚兑

December 5, 2023

Till next time, Evergrande

Evergrande has narrowly averted liquidation of its offshore business – for now. On Monday, a Hong Kong judge postponed the winding-up hearing for the embattled developer until January 29 – after earlier saying she would not grant any more delays. The hearing was originally scheduled for Monday. Thi…

Evergrande has narrowly averted liquidation of its offshore business – for now.
On Monday, a Hong Kong judge postponed the winding-up hearing for the embattled developer until January 29 – after earlier saying she would not grant any more delays.

The hearing was originally scheduled for Monday.
Thi...

sources

Bloomberg: Evergrande Liquidation Ruling Postponed in Surprise to Creditors

Reuters: Exclusive: China Evergrande seeks to avoid liquidation with last-ditch debt plan

December 5, 2023

Re-enter the national team?

Is the “national team” dipping its toes back in the water? We’re not convinced. Quick refresher: The “national team” is a group of state-backed mega-funds that occasionally props up flagging equity markets. In October, Central Huijin, the mega financial holding company under the State Council’s pur…

Is the “national team” dipping its toes back in the water? We're not convinced.
Quick refresher: The "national team" is a group of state-backed mega-funds that occasionally props up flagging equity markets.

In October, Central Huijin, the mega financial holding company under the State Council's pur...

sources

21st Century Biz: “国家队”再度出手国新投资增持央企科技类指数基金

China Reform Holdings: 国新投资增持中证国新央企科技类指数ETF产品

December 5, 2023

Are you hearing me?

The central bank (PBoC) wants to be sure markets understand its newest policies. On Monday, PBoC Governor Pan Gongsheng published a column in the People’s Daily stressing the points he’s made repeatedly since the Central Financial Work Conference (CFWC) in late October, namely: Credit needs to be a…

The central bank (PBoC) wants to be sure markets understand its newest policies.
On Monday, PBoC Governor Pan Gongsheng published a column in the People’s Daily stressing the points he’s made repeatedly since the Central Financial Work Conference (CFWC) in late October, namely:

Credit needs to be a...

sources

People's Daily: 加快现代中央银行制度建设构建中国特色现代金融体系（深入学习贯彻习近平新时代中国特色社会主义思想）

December 5, 2023

What’s mine will be mined

China’s Mineral Resources Law is getting a facelift. At its Friday executive meeting, the State Council approved a revised draft of the law for submission to the legislature (NPCSC). The NPCSC is set to convene in late December, where we expect it to adopt the revision and release the final text. …

China's Mineral Resources Law is getting a facelift.
At its Friday executive meeting, the State Council approved a revised draft of the law for submission to the legislature (NPCSC).

The NPCSC is set to convene in late December, where we expect it to adopt the revision and release the final text.

...

sources

CCTV: [视频]李强主持召开国务院常务会议

December 5, 2023

Keep on streamin’ on

Chinese policymakers are just as excited about livestream e-commerce as they ever were. But you wouldn’t know it from reading SCMP’s article on livestream e-commerce regulation, published on Wednesday. The article claimed that recent calls by the state to regulate misconduct in e-commerce livestre…

Chinese policymakers are just as excited about livestream e-commerce as they ever were.

But you wouldn't know it from reading SCMP's article on livestream e-commerce regulation, published on Wednesday.

The article claimed that recent calls by the state to regulate misconduct in e-commerce livestre...

sources

SCMP: People’s Daily calls for tighter control of live-streaming e-commerce in China as controversies mount

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