string(13) "markets-macro"

Macro

October 19, 2023

Bulls for a China pop

Dozens of Chinese companies – including ten of the largest state-owned enterprises (SOEs) – are engaging in share buybacks. Companies made the announcements across Monday and Tuesday. The details: The 10 central SOEs – including Sinopec, Three Gorges Energy, and China Mobile – announced combined … Username Password Remember Me Forgot Password

Dozens of Chinese companies – including ten of the largest state-owned enterprises (SOEs) – are engaging in share buybacks.

Companies made the announcements across Monday and Tuesday.

The details:

The 10 central SOEs – including Sinopec, Three Gorges Energy, and China Mobile – announced combined ...

sources

Caixin: 密集回购、增持上市央企主动“护盘”

The Paper: 10家央企大手笔增持回购，机构：有望推动“政策底”向“市场底”的演绎

October 18, 2023

Hungary for more

China has a friend in Hungary. On Tuesday, Xi Jinping met with Hungarian Prime Minister Victor Orban in Beijing at the Belt and Road Forum. On the same day, China’s macro planner (NDRC) signed five MOUs with Hungary promising enhanced cooperation in areas including the Belt and Road (BRI), tech, an…

China has a friend in Hungary.
On Tuesday, Xi Jinping met with Hungarian Prime Minister Victor Orban in Beijing at the Belt and Road Forum.

On the same day, China's macro planner (NDRC) signed five MOUs with Hungary promising enhanced cooperation in areas including the Belt and Road (BRI), tech, an...

sources

Xinhua: 习近平会见匈牙利总理欧尔班

NDRC: 国家发展改革委与匈牙利有关部门签署共建“一带一路”等五份合作文件

October 18, 2023

Nvidious

The US has dealt a big blow to China’s AI ambitions. On Tuesday, the US Commerce Department updated the October 7 export controls, further tightening China’s access to advanced chip technology. The big change: The updated rules will shut down the workaround Nvidia used to sell dumbed-dow…

The US has dealt a big blow to China’s AI ambitions.
On Tuesday, the US Commerce Department updated the October 7 export controls, further tightening China’s access to advanced chip technology.
The big change: The updated rules will shut down the workaround Nvidia used to sell dumbed-dow...

sources

BIS: Commerce Strengthens Restrictions on Advanced Computing Semiconductors, Semiconductor Manufacturing Equipment, and Supercomputing Items to Countries of Concern

LatePost: 争夺 AI 入场券：中国大公司竞逐 GPU

Caixin: 美国升级芯片管制②｜美国芯片巨头业务受阻股价暴跌

October 18, 2023

The Super Belt Friends

Globalization’s not dead. That was Xi Jinping’s message in his keynote speech to the Belt and Road Forum (BRF) in Beijing on Wednesday. ICYMI: Marking the Belt and Road Initiative’s (BRI) 10th anniversary, the BRF has drawn more than 4,000 attendees from 140 countries. Xi touted the benefits of coop…

Globalization’s not dead.
That was Xi Jinping's message in his keynote speech to the Belt and Road Forum (BRF) in Beijing on Wednesday.
ICYMI: Marking the Belt and Road Initiative’s (BRI) 10th anniversary, the BRF has drawn more than 4,000 attendees from 140 countries.
Xi touted the benefits of coop...

sources

MoFA: 习近平在第三届“一带一路”国际合作高峰论坛开幕式上的主旨演讲（全文）

October 18, 2023

Ironclad friendship

Xi Jinping just chalked up a win in his effort to boost China’s global trade links. On Tuesday, Xi met with Serbian President Aleksandar Vucic, who is attending the Belt and Road Forum (duh). Xi hailed the two countries’ “ironclad friendship” (Xinhua). Then they got down to business: Xi and Vucic si…

Xi Jinping just chalked up a win in his effort to boost China's global trade links.
On Tuesday, Xi met with Serbian President Aleksandar Vucic, who is attending the Belt and Road Forum (duh).
Xi hailed the two countries' "ironclad friendship" (Xinhua).
Then they got down to business: Xi and Vucic si...

sources

Yahoo: European leaders urge Serbia-Kosovo dialogue at Balkan summit

Xinhua: 习近平会见塞尔维亚总统武契奇

MofCom: 商务部国际司负责人解读中国—塞尔维亚自贸协定

October 18, 2023

Anchors away

They’re at it again! Xi Jinping caught up with Indonesian President Joko Widodo Tuesday on the sidelines of the Belt and Road Forum. By our count, this is the tenth meeting between Xi and Widodo since Xi came to power in 2012. The two just met up in Chengdu in late July. Xi used touted… Read More »

They're at it again!
Xi Jinping caught up with Indonesian President Joko Widodo Tuesday on the sidelines of the Belt and Road Forum.

By our count, this is the tenth meeting between Xi and Widodo since Xi came to power in 2012.
The two just met up in Chengdu in late July.

Xi used touted the benefit...

sources

MoFA: Xi Jinping Holds Talks with Indonesian President Joko Widodo

October 18, 2023

CFC gets to work

China’s top financial policy body is finally up and running. ICYMI: During the Party-state revamp in March, a new Party institution – the Central Financial Commission (CFC) – was established to oversee financial policymaking. The CFC will absorb the Financial Stability and Development Commission (F…

China’s top financial policy body is finally up and running.
ICYMI: During the Party-state revamp in March, a new Party institution – the Central Financial Commission (CFC) – was established to oversee financial policymaking.

The CFC will absorb the Financial Stability and Development Commission (F...

sources

State Council: 中共中央办公厅国务院办公厅关于调整中国人民银行职责机构编制的通知

SCMP: ExclusiveChina’s new party finance organ gets to work while concerns over stability loom

October 18, 2023

Rollover and restructure

China’s central bank (PBoC) wants to ease local government financial pressure. The latest: The PBoC has reportedly told major banks to roll over local government financing vehicle (LGFV) debt into new loans with longer maturities and lower interest rates. On Tuesday, Reuters cited unnamed sources s…

China’s central bank (PBoC) wants to ease local government financial pressure.
The latest: The PBoC has reportedly told major banks to roll over local government financing vehicle (LGFV) debt into new loans with longer maturities and lower interest rates.

On Tuesday, Reuters cited unnamed sources s...

sources

Reuters: Exclusive: China tells banks to roll over local government debts as risks mount – sources

October 18, 2023

Looking the other way

So… guess ride-hailing compliance just isn’t a regulatory priority anymore? On Monday, the Ministry of Transport (MoT) published the statistics on ride-hailing compliance for September. Some context: Each month, MoT ranks China’s top ten ride-hailing companies by the number of rides in which both…

So... guess ride-hailing compliance just isn't a regulatory priority anymore?
On Monday, the Ministry of Transport (MoT) published the statistics on ride-hailing compliance for September.
Some context: Each month, MoT ranks China's top ten ride-hailing companies by the number of rides in which both...

sources

MoT: 9月份20个中心城市网约车订单合规率超80%

October 18, 2023

It takes two types of data to tango

How do you fill an empty dance floor? Yesterday, the macro planner (NDRC) published some thoughts on how China plans to kick-start the data economy. Some background: China’s leaders believe the transition to the digital economy is on par with the emergence of agriculture or industrialization. AKA: …

How do you fill an empty dance floor?
Yesterday, the macro planner (NDRC) published some thoughts on how China plans to kick-start the data economy.
Some background: China's leaders believe the transition to the digital economy is on par with the emergence of agriculture or industrialization.

AKA: ...

sources

NDRC: 【专家观点】以激发数据要素潜能助力数字中国建设

October 18, 2023

Recouping with coupons

The city of Beijing wants to be a large language model (LLM) leader. What’s stopping them? For many promising AI companies, the price of AI computing power is simply too high. For reference, ChatGPT costs an estimated USD 700,000 per day to run. On Wednesday, the Beijing branch of MIIT rel…

The city of Beijing wants to be a large language model (LLM) leader.
What's stopping them? For many promising AI companies, the price of AI computing power is simply too high.

For reference, ChatGPT costs an estimated USD 700,000 per day to run.

On Wednesday, the Beijing branch of MIIT rel...

sources

Beijing Gov: 北京市经济和信息化局关于印发人工智能算力券实施方案（2023—2025年）的通知

October 17, 2023

A high price to be short

Another day, another marginal effort to boost Chinese share prices. On Saturday, the securities regulator (CSRC) implemented rules to raise the cost of short selling equities. The big ones: Upping the minimum margin ratio for securities borrowing from 50% to 80% for most investors and to 100% (from…

Another day, another marginal effort to boost Chinese share prices.
On Saturday, the securities regulator (CSRC) implemented rules to raise the cost of short selling equities.
The big ones:

Upping the minimum margin ratio for securities borrowing from 50% to 80% for most investors and to 100% (from...

sources

CSRC: 证监会调整优化融券相关制度更好发挥逆周期调节作用

Shenzhen Stock Exchange: 关于优化融券交易和转融通证券出借交易相关安排的通知

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