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Macro

November 20, 2023

Seasonal work

Beijing wants extra funds earmarked for rural infrastructure and disaster recovery to boost rural employment. That’s our read of the State Council’s annual meeting on farmland and irrigation infrastructure construction plans for the winter off-season, which took place on Friday. ICYDK: The meeting i… Username Password Remember Me Forgot Password

Beijing wants extra funds earmarked for rural infrastructure and disaster recovery to boost rural employment.
That's our read of the State Council's annual meeting on farmland and irrigation infrastructure construction plans for the winter off-season, which took place on Friday.
ICYDK: The meeting i...

sources

Gov.cn: 李强对推进农田水利和高标准农田建设作出重要批示强调：大力推进农田水利和高标准农田建设为保障国家粮食安全奠定坚实基础

November 20, 2023

Nice to connect

The Asia-Pacific must embrace cooperation. That was Xi Jinping’s message to Friday’s 30th APEC Economic Leaders’ Meeting. ICYMI: A big part of Xi’s APEC presence focused on talking up China’s economic prospects. On Friday, Xi asked everyone to do their part for prosperity (Xinhua 2): “[APEC] must t…

The Asia-Pacific must embrace cooperation.
That was Xi Jinping’s message to Friday's 30th APEC Economic Leaders' Meeting.
ICYMI: A big part of Xi’s APEC presence focused on talking up China’s economic prospects.
On Friday, Xi asked everyone to do their part for prosperity (Xinhua 2):

“[APEC] must t...

sources

Xinhua: 习近平出席亚太经合组织第三十次领导人非正式会议并发表重要讲话

Xinhua: Full text of Xi's speech at the 30th APEC Economic Leaders' Meeting

November 20, 2023

Talk the talk

Beijing and Washington love talking about trade. On November 16, Minister of Commerce (MofCom) Wang Wentao met with his US counterpart Gina Raimondo on the sidelines of the APEC summit. The last time the pair met, back in August, they agreed to establish a commercial issues working group and…

Beijing and Washington love talking about trade.
On November 16, Minister of Commerce (MofCom) Wang Wentao met with his US counterpart Gina Raimondo on the sidelines of the APEC summit.

The last time the pair met, back in August, they agreed to establish a commercial issues working group and...

sources

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

MofCom: 王文涛部长与美国商务部长雷蒙多举行会谈

November 20, 2023

It ain’t happening

The coalition between the two main Taiwanese opposition parties has fallen through. On Sunday, Ko Wen-je, chairman of the Taiwan People’s Party (TPP), announced he was continuing his campaign as the TPP’s presidential candidate. ICYMI: The KMT and the smaller TPP agreed on a joint presidential ticke…

The coalition between the two main Taiwanese opposition parties has fallen through.
On Sunday, Ko Wen-je, chairman of the Taiwan People’s Party (TPP), announced he was continuing his campaign as the TPP’s presidential candidate.
ICYMI: The KMT and the smaller TPP agreed on a joint presidential ticke...

sources

Liberty Times Net: 柯稱以民眾黨總統侯選人身分戰到底國民黨：22日是「藍白合」最後期限

Liberty Times Net: 柯文哲深夜赴郭台銘家會面1小時郭辦證實：來惡補統計學

November 20, 2023

The Xi meeting that Xinhua didn’t report on

Beijing will continue its aggressive posturing in the South China Sea (SCS). How do we know? On Friday, Philippine President Ferdinand Marcos Jr. met Xi Jinping on the sidelines of the APEC summit, where he urged Xi to “go back to the situation where both Chinese and Filipino fishermen were fishing…

Beijing will continue its aggressive posturing in the South China Sea (SCS).
How do we know?

On Friday, Philippine President Ferdinand Marcos Jr. met Xi Jinping on the sidelines of the APEC summit, where he urged Xi to "go back to the situation where both Chinese and Filipino fishermen were fishing...

sources

Reuters: Philippines' Marcos meets China's Xi to find ways to reduce South China Sea tensions

November 20, 2023

Late to the party

The number of foreign players in China’s bank card clearing sector just doubled – to two. On Friday, regulators granted Mastercard’s Chinese joint venture (JV) a license to conduct RMB clearing operations in China. That makes Mastercard the second foreign entity to get such a license, after America…

The number of foreign players in China's bank card clearing sector just doubled – to two.
On Friday, regulators granted Mastercard's Chinese joint venture (JV) a license to conduct RMB clearing operations in China.

That makes Mastercard the second foreign entity to get such a license, after America...

sources

Xinhua: 中国人民银行向万事网联公司核发银行卡清算业务许可证

The Paper: 中国人民银行向万事网联公司核发银行卡清算业务许可证

Xinhua: China greenlights Mastercard JV for bank card clearing operations

November 18, 2023

Micron-positive

Will Micron be out of the woods soon? That’s one of the questions reporters asked at the Ministry of Commerce’s (MofCom) press conference on Thursday. ICYMI: Beijing launched a cybersecurity probe into Micron in retaliation against US export controls. But: There’s been a thaw in Micron…

Will Micron be out of the woods soon?

That’s one of the questions reporters asked at the Ministry of Commerce’s (MofCom) press conference on Thursday.

ICYMI: Beijing launched a cybersecurity probe into Micron in retaliation against US export controls.
But: There's been a thaw in Micron...

sources

MofCom: 商务部召开例行新闻发布会（2023年11月16日）

November 18, 2023

I’m gonna be a supermodel

On Thursday, Baidu CEO Robin Li delivered a speech critiquing Chinese tech companies’ hyper-saturated – and expensive – competition over large language models (LLMs). Background: LLMs are extremely costly and resource-intensive to train. OpenAI’s Sam Altman has said training costs for GPT-4 clocke…

On Thursday, Baidu CEO Robin Li delivered a speech critiquing Chinese tech companies' hyper-saturated – and expensive – competition over large language models (LLMs).
Background: LLMs are extremely costly and resource-intensive to train.

OpenAI's Sam Altman has said training costs for GPT-4 clocke...

sources

Yicai: 百度李彦宏：中国做大模型的太多，做AI原生应用的太少

November 18, 2023

You can go your own (Hua)wei

Huawei is pushing Chinese platform companies to break free of the Android ecosystem. On Monday, media reported that food delivery giant Meituan is cooperating with Huawei to build a native app specifically for Huawei’s mobile operating system, HarmonyOS. Background: At the Huawei Developer Conferen…

Huawei is pushing Chinese platform companies to break free of the Android ecosystem.
On Monday, media reported that food delivery giant Meituan is cooperating with Huawei to build a native app specifically for Huawei's mobile operating system, HarmonyOS.
Background: At the Huawei Developer Conferen...

sources

STCN: 不再兼容安卓！华为鸿蒙原生应用时代即将到来，美团等多家大厂加入开发

SCMP: Chinese Big Tech firms JD.com, NetEase and Meituan in rush to hire HarmonyOS-based app developers as Huawei aims to sever Android ties

November 18, 2023

New deals, every month

To boost home sales, more cities are relaxing controls on property prices. The latest: On Tuesday, Dongguan, a city in Guangdong province, said it would allow local developers to cut prices on new homes every 30 days – down from 180 days, previously. Some context: In most cities, developers must reg…

To boost home sales, more cities are relaxing controls on property prices.
The latest: On Tuesday, Dongguan, a city in Guangdong province, said it would allow local developers to cut prices on new homes every 30 days – down from 180 days, previously.
Some context: In most cities, developers must reg...

sources

The Paper: 东莞：优化新建商品住房销售价格申报，变更销售价格期限缩短至30天

November 18, 2023

Property prices take another dive

China’s housing downturn continues. The latest: On Thursday, the stats bureau (NBS) released its monthly survey of homes prices in 70 cities. It’s a sad picture: In October, average new home prices slipped 0.38% m/m, following a 0.30% m/m decline in September. This was the steepest fall since Febru…

China's housing downturn continues.
The latest: On Thursday, the stats bureau (NBS) released its monthly survey of homes prices in 70 cities.
It’s a sad picture: In October, average new home prices slipped 0.38% m/m, following a 0.30% m/m decline in September.

This was the steepest fall since Febru...

sources

NBS: 国家统计局城市司高级统计师沈赟解读2023年10月份商品住宅销售价格变动情况统计数据

NBS: 国家统计局城市司高级统计师沈赟解读2023年9月份商品住宅销售价格变动情况统计数据

Bloomberg: China Housing Gloom Worsens as Prices Fall Most in Eight Years

November 17, 2023

China’s economic recovery consolidates further

To view this note as a PDF, click here. Exec Summary The monthly data print for October shows further consolidation of China’s economic recovery, with growth in industrial activity and retail sales expanding at their fastest rates since April and May, respectively. More importantly, the quality of …

To view this note as a PDF, click here.
Exec Summary

The monthly data print for October shows further consolidation of China’s economic recovery, with growth in industrial activity and retail sales expanding at their fastest rates since April and May, respectively.
More importantly, the quality of ...

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