string(13) "markets-macro"

Macro

October 23, 2023

Nothing is certain except death and tax reviews

Is Beijing shooting itself in the foot? On Sunday, state media outlet Global Times broke the news that authorities are investigating several of Foxconn’s China subsidiaries. The official reason: Random tax and land use reviews. We’re not buying it. Multiple probes are happening across mu… Username Password Remember Me Forgot Password

Is Beijing shooting itself in the foot?
On Sunday, state media outlet Global Times broke the news that authorities are investigating several of Foxconn’s China subsidiaries.
The official reason: Random tax and land use reviews.
We’re not buying it. Multiple probes are happening across mu...

sources

Huanqiu: 【独家】有关部门依法对富士康旗下企业进行税务稽查和用地情况调查

Huanqiu: 富士康被查，台媒：时间点相当敏感！

October 23, 2023

Keeping up with the Võ-neses

Xi Jinping is keeping China’s friends close and its frenemies closer. On Friday, Xi met with Vietnamese President Võ Văn Thưởng, in town for (all together now!) the Belt and Road Forum. Some context: Sino-Vietnamese relations are complicated. Despite similar governance models and a robust economic …

Xi Jinping is keeping China’s friends close and its frenemies closer.
On Friday, Xi met with Vietnamese President Võ Văn Thưởng, in town for (all together now!) the Belt and Road Forum.
Some context: Sino-Vietnamese relations are complicated.

Despite similar governance models and a robust economic ...

sources

MoFA: 习近平会见越南国家主席武文赏

MoFA: Xi Jinping Meets with Vietnamese President Võ Văn Thưởng

October 23, 2023

Not every probe is about you

Sometimes a probe is just a probe. On Saturday, the Economic Crime Investigation Department of the Shanghai Public Security Bureau announced that it had detained three executives of an unnamed advertising agency for taking bribes (Economic Observer). Later reports indicated that the executives were…

Sometimes a probe is just a probe.
On Saturday, the Economic Crime Investigation Department of the Shanghai Public Security Bureau announced that it had detained three executives of an unnamed advertising agency for taking bribes (Economic Observer).

Later reports indicated that the executives were...

sources

Economic Observer: 群邑集团3位高管疑涉受贿身份曝光

Reuters: WPP pays $19 million in bribery settlement with U.S. SEC

SEC: SEC Charges World's Largest Advertising Group with FCPA Violations

October 23, 2023

Fine by me

Premier Li Qiang has picked up his predecessor’s efforts to reduce government intervention in the economy. Friday’s State Council executive meeting put canceling and adjusting a bunch of business-related fines at the top of the agenda. According to the meeting readout, a total of 33 fines will be t…

Premier Li Qiang has picked up his predecessor's efforts to reduce government intervention in the economy.
Friday's State Council executive meeting put canceling and adjusting a bunch of business-related fines at the top of the agenda.

According to the meeting readout, a total of 33 fines will be t...

sources

Gov.cn: 李强主持召开国务院常务会议审议通过《国务院关于取消和调整一批罚款事项的决定》和《人体器官捐献和移植条例（修订草案）》

October 23, 2023

Deep Dive | Seeds of opportunity

Regulators are about to usher in widespread commercial planting of GM crops in China. ICYMI: On Thursday, we reported that the National Crop Review Committee – under the purview of the agriculture ministry (MARA) – has granted safety approval for producing and selling 37 new GM corn varieties and 14…

Regulators are about to usher in widespread commercial planting of GM crops in China.
ICYMI: On Thursday, we reported that the National Crop Review Committee – under the purview of the agriculture ministry (MARA) – has granted safety approval for producing and selling 37 new GM corn varieties and 14...

sources

People's Daily: 经批准的转基因产品都安全

Xinhua: 5省试点转基因玉米大豆明年有望技术收费

The China Quarterly: Central–Local Relations in China: A Case Study of Heilongjiang's GMO Ban

CPPCC: 万建民常委的发言：加强农业种质资源保护与创新利用

NASDAQ: China's LongPing to launch Brazil sorghum seed next year

Reuters: China's CITIC Agri Fund buys Dow corn seed assets for $1.1 billion

October 23, 2023

Credit where it’s due

China’s banks have upped their efforts to relieve financial pressure on domestic property developers. The latest: At a press conference on Friday, Liu Zhiqing, the financial regulator’s (NFRA) head of statistical information and risk monitoring, disclosed new data on real estate lending. According t…

China’s banks have upped their efforts to relieve financial pressure on domestic property developers.
The latest: At a press conference on Friday, Liu Zhiqing, the financial regulator’s (NFRA) head of statistical information and risk monitoring, disclosed new data on real estate lending.
According t...

sources

NFRA: 三季度银行业保险业数据信息新闻发布会

October 23, 2023

Precision (monetary) driving

China’s central bank (PBoC) envisions monetary policy taking a more active role in supporting the weak economy. That’s the biggest takeaway from a report delivered Saturday by PBoC Governor Pan Gongsheng to the legislature (NPCSC). The sprawling 9000-word report on financial sector management most…

China’s central bank (PBoC) envisions monetary policy taking a more active role in supporting the weak economy.

That’s the biggest takeaway from a report delivered Saturday by PBoC Governor Pan Gongsheng to the legislature (NPCSC).

The sprawling 9000-word report on financial sector management most...

sources

PBoC: 国务院关于金融工作情况的报告——2023年10月21日在第十四届全国人民代表大会常务委员会第六次会议上

PBoC: 2023年第二季度中国货币政策执行报告

October 21, 2023

But somehow the vital connection is made

We’re only going to look at one last tech initiative from the Belt and Road Forum, we swear. On Wednesday, China and 26 partner countries announced the Beijing Initiative on Deepening Cooperation on Connectivity. The initiative is short and sweet – only four pages long – and called for stronger cro…

We're only going to look at one last tech initiative from the Belt and Road Forum, we swear.
On Wednesday, China and 26 partner countries announced the Beijing Initiative on Deepening Cooperation on Connectivity.

The initiative is short and sweet – only four pages long – and called for stronger cro...

sources

MofCom: Beijing Initiative on Deepening Cooperation on Connectivity

October 21, 2023

On the Digital Silk Road again

In case you thought we were done covering the flood of tech-related initiatives that came out of the Belt and Road Forum this week… On Wednesday, China introduced the Beijing Initiative on the Belt and Road International Digital Economy Cooperation. The short version: Under the initiative, fourtee…

In case you thought we were done covering the flood of tech-related initiatives that came out of the Belt and Road Forum this week...
On Wednesday, China introduced the Beijing Initiative on the Belt and Road International Digital Economy Cooperation.
The short version: Under the initiative, fourtee...

sources

MofCom: Beijing Initiative on the Belt and Road International Digital Economy Cooperation

news.cn: “一带一路”高峰论坛丨数字经济高级别论坛提出国际合作20项共识

Yicai: 《“一带一路”数字经济国际合作北京倡议》发布；2023全球工业互联网大会开幕丨明日主题前瞻

October 21, 2023

Lets get wired, lets go green

Good grief. The Belt and Road Forum was a tech-initiative-palooza. We’ve already discussed Xi’s new Global AI Governance Initiative, launched at the forum on Wednesday. Also on Wednesday, China unveiled the Initiative on International Trade and Economic Cooperation Framework for Digital Economy an…

Good grief. The Belt and Road Forum was a tech-initiative-palooza.

We've already discussed Xi's new Global AI Governance Initiative, launched at the forum on Wednesday.

Also on Wednesday, China unveiled the Initiative on International Trade and Economic Cooperation Framework for Digital Economy an...

sources

MofCom: 《数字经济和绿色发展国际经贸合作框架倡议》在京发布

MofCom: 数字经济和绿色发展国际经贸合作框架倡议

October 21, 2023

SAMR holds all the cards

Export controls on critical minerals aren’t the only option Beijing has to retaliate against US export controls on semiconductors. On Thursday, anonymous sources told FT that China’s market regulator (SAMR) is considering killing the Broadcom-VMware merger by withholding approval for the deal. This …

Export controls on critical minerals aren't the only option Beijing has to retaliate against US export controls on semiconductors.
On Thursday, anonymous sources told FT that China's market regulator (SAMR) is considering killing the Broadcom-VMware merger by withholding approval for the deal.
This ...

sources

FT: Beijing weighs delaying approval of $69bn Broadcom-VMware deal

October 21, 2023

Heads might roll

Things are sounding tense down at the Ministry of Science and Technology (MoST). On Wednesday, the Central Committee of the Chinese Communist Party launched a political alignment investigation into the MoST Party group. ICYDK: The Party group is responsible for keeping the ministry aligned with the …

Things are sounding tense down at the Ministry of Science and Technology (MoST).
On Wednesday, the Central Committee of the Chinese Communist Party launched a political alignment investigation into the MoST Party group.
ICYDK: The Party group is responsible for keeping the ministry aligned with the ...

sources

Ministry of Science and Technology: 中央第三巡视组巡视科学技术部党组工作动员会召开

STDaily: 中央第二巡视组向科学技术部党组反馈巡视情况

People.cn: 令狐安代表：科技部巡视反馈线索有重大突破

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