string(13) "markets-macro"

Macro

November 28, 2023

Private partnership

More help is coming for China’s down-on-its-luck private sector. On Monday, the central bank (PBoC) and seven other agencies released measures to direct more financial support to the sector. ICYMI: In July, the State Council released 31 measures to help private companies, including pledges to: Leve… Username Password Remember Me Forgot Password

More help is coming for China's down-on-its-luck private sector.
On Monday, the central bank (PBoC) and seven other agencies released measures to direct more financial support to the sector.
ICYMI: In July, the State Council released 31 measures to help private companies, including pledges to:

Leve...

sources

PBoC: 中国人民银行金融监管总局中国证监会国家外汇局国家发展改革委工业和信息化部财政部全国工商联关于强化金融支持举措助力民营经济发展壮大的通知

PBoC: 中国人民银行等八部门联合印发《关于强化金融支持举措助力民营经济发展壮大的通知》

November 28, 2023

Mr. Brightside

The central bank (PBoC) wants you to know that China’s economy is getting better and better. In its Q3 Monetary Policy Report, published Monday, the PBoC said the economy has maintained momentum since exceeding market expectations in Q3. The PBoC is particularly bullish about the potential for stro…

The central bank (PBoC) wants you to know that China's economy is getting better and better.
In its Q3 Monetary Policy Report, published Monday, the PBoC said the economy has maintained momentum since exceeding market expectations in Q3.

The PBoC is particularly bullish about the potential for stro...

sources

PBoC: 2023年第三季度中国货币政策执行报告

November 28, 2023

Don’t pay your own way

The State Council is unintentionally bolstering the market dominance of Alipay and WeChat Pay. On Friday, the State Council approved Regulations on the Supervision and Administration of Non-Bank Payment Institutions. Some context: The draft regs were released in the early days of the tech crac…

The State Council is unintentionally bolstering the market dominance of Alipay and WeChat Pay.
On Friday, the State Council approved Regulations on the Supervision and Administration of Non-Bank Payment Institutions.
Some context: The draft regs were released in the early days of the tech crac...

sources

Gov.cn: 李强主持召开国务院常务会议研究加强岁末年初安全生产工作审议通过《空气质量持续改善行动计划》和《非银行支付机构监督管理条例》

Caixin: 国务院常务会审议通过支付机构监管条例严把准入关

November 27, 2023

Mission impossible

Even staunch advocates of globalization think Beijing needs to pay more attention to supply chain security. Just ask Jiang Xiaojuan, a well-respected technocrat who served as a deputy secretary-general of the State Council from 2011 to 2018. Jiang spent over 20 years shaping China’s industrial poli…

Even staunch advocates of globalization think Beijing needs to pay more attention to supply chain security.
Just ask Jiang Xiaojuan, a well-respected technocrat who served as a deputy secretary-general of the State Council from 2011 to 2018.

Jiang spent over 20 years shaping China's industrial poli...

sources

Sina: 江小涓：2024，开放赋能中国经济

November 27, 2023

Li meets with French foreign minister

China is France’s bon ami. That was the message Premier Li Qiang conveyed during his Friday meeting with French Foreign Minister Catherine Colonna. Some context: Beijing wants to get Sino-French relations right. China hopes France can temper EU subsidy investigations into Chinese EVs, steel, and wi…

China is France’s bon ami.
That was the message Premier Li Qiang conveyed during his Friday meeting with French Foreign Minister Catherine Colonna.
Some context: Beijing wants to get Sino-French relations right.

China hopes France can temper EU subsidy investigations into Chinese EVs, steel, and wi...

sources

MoFA: 李强会见法国外长科隆纳

SCMP: Chinese Premier Li Qiang urges France to support ‘spirit of free trade’ in Europe

November 27, 2023

Continuous improvement

We’re not gonna lie – Beijing is giving us mixed messages on air quality. ICYDK: Regulators have spent the last few months signaling that air quality goals are still on the backburner this winter to give companies some…er… breathing room to deliver an economic recovery. Surprise: On Friday, the …

We're not gonna lie – Beijing is giving us mixed messages on air quality.
ICYDK: Regulators have spent the last few months signaling that air quality goals are still on the backburner this winter to give companies some...er... breathing room to deliver an economic recovery.
Surprise: On Friday, the ...

sources

Gov.cn: 李强主持召开国务院常务会议研究加强岁末年初安全生产工作审议通过《空气质量持续改善行动计划》和《非银行支付机构监督管理条例》

MEE: 生态环境部通报6月和1—6月全国环境空气质量状况

U Chicago: China: National Air Quality Action Plan (2013)

November 27, 2023

Beijing huanying ni

Beijing just extended an olive branch to the EU. On Friday, the foreign ministry announced it is offering unreciprocated visa-free travel for citizens from Germany, France, Italy, Spain, and the Netherlands, starting December 2023. Travelers from these countries will be allowed to visit China for …

Beijing just extended an olive branch to the EU.
On Friday, the foreign ministry announced it is offering unreciprocated visa-free travel for citizens from Germany, France, Italy, Spain, and the Netherlands, starting December 2023.

Travelers from these countries will be allowed to visit China for ...

sources

MoFA: 中国对法、德等6国试行单方面免签政策的通知

November 27, 2023

A SAFE choice

The forex regulator (SAFE) has a new leader. On Friday, Zhu Hexin (55) was appointed Party secretary of SAFE, replacing Pan Gongsheng (60). Zhu was concurrently appointed as a member of the central bank’s (PBoC) Party standing committee. Zhu will take over as SAFE director and PBoC vice governor s…

The forex regulator (SAFE) has a new leader.
On Friday, Zhu Hexin (55) was appointed Party secretary of SAFE, replacing Pan Gongsheng (60).

Zhu was concurrently appointed as a member of the central bank's (PBoC) Party standing committee.

Zhu will take over as SAFE director and PBoC vice governor s...

sources

Xinhua: 朱鹤新同志任中国人民银行党委委员、国家外汇管理局党组书记

November 27, 2023

A piggy reckoning

Regulators are (again) buying pork in response to perilously low prices. On Friday, the macro planner (NDRC) announced that pork reserve purchasing had been triggered as the hog-corn ratio – a key metric for assessing the profitability of hog farming based on the price of pork and feeds – fell belo…

Regulators are (again) buying pork in response to perilously low prices.
On Friday, the macro planner (NDRC) announced that pork reserve purchasing had been triggered as the hog-corn ratio – a key metric for assessing the profitability of hog farming based on the price of pork and feeds – fell belo...

sources

People's Daily: 猪价环比下降0.7% 年内第三批猪肉收储将启动

November 27, 2023

Dreaming of a white (list) Christmas

Beijing wants financial institutions to know precisely which developers to keep afloat. According to Bloomberg, regulators are putting together a whitelist of 50 developers they want the financial sector to support. The list includes private sector and state-owned developers, and is designed to gui…

Beijing wants financial institutions to know precisely which developers to keep afloat.
According to Bloomberg, regulators are putting together a whitelist of 50 developers they want the financial sector to support.

The list includes private sector and state-owned developers, and is designed to gui...

sources

Bloomberg: China Drafts List of 50 Property Firms Eligible for Funding

Bloomberg: China Puts Country Garden on Draft List of Builders to Support

November 27, 2023

Giving thanks for the financial regulators

Banks now have three new targets for lending to the property sector. On November 17, the central bank (PBoC), financial regulator (NFRA), and securities regulator (CSRC) met with representatives from 27 financial institutions, including 18 major banks. Details of the meeting were reported on Novemb…

Banks now have three new targets for lending to the property sector.
On November 17, the central bank (PBoC), financial regulator (NFRA), and securities regulator (CSRC) met with representatives from 27 financial institutions, including 18 major banks.

Details of the meeting were reported on Novemb...

sources

PBoC: 中国人民银行金融监管总局中国证监会联合召开金融机构座谈会

Caixin: 监管拟扩围房企白名单要求涉房贷款“三个不低于”

Bloomberg: China Weighs Unprecedented Builder Support With First-Ever Unsecured Loans

November 24, 2023

Xi reaches out to Milei

Argentina’s president-elect may already be rethinking his campaign promises re: China. On Tuesday, Xi Jinping congratulated right-wing populist Javier Milei for winning Argentina’s presidential election. Some context: Among his many bombastic campaign pledges, Milei said he would freeze diplomatic t…

Argentina’s president-elect may already be rethinking his campaign promises re: China.
On Tuesday, Xi Jinping congratulated right-wing populist Javier Milei for winning Argentina’s presidential election.
Some context: Among his many bombastic campaign pledges, Milei said he would freeze diplomatic t...

sources

Xinhua: Xi pledges to work with Milei for sound development of China-Argentina ties

Bloomberg: Argentina’s Milei: I will not promote political relations with communist countries

Reuters: Argentina's Milei thanks Chinese president, in softening of tone

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