string(13) "markets-macro"

Macro

October 14, 2023

Didi you say ‘rebound’?

Has Didi finally come full circle? On Thursday, Bloomberg reported that ride-hailing giant Didi is gearing up for a Hong Kong IPO in 2024. The reports are based on information from insider sources, not official announcements. In case you’ve been living under a rock: Didi’s 2021 attempt to list i… Username Password Remember Me … Read More »

Has Didi finally come full circle?
On Thursday, Bloomberg reported that ride-hailing giant Didi is gearing up for a Hong Kong IPO in 2024.

The reports are based on information from insider sources, not official announcements.

In case you've been living under a rock: Didi's 2021 attempt to list i...

sources

Bloomberg: Didi Plans 2024 Hong Kong Listing in Comeback Bid, Sources Say

October 14, 2023

The National Data Administration just got its number two

Data policy leadership talent is converging. On Wednesday, the State Council named Shen Zhulin as Deputy Director of the National Data Administration (NDA). ICYMI: The NDA was formed earlier this year as part of China’s latest round of government restructuring. The new body will be responsible for…

Data policy leadership talent is converging.
On Wednesday, the State Council named Shen Zhulin as Deputy Director of the National Data Administration (NDA).
ICYMI: The NDA was formed earlier this year as part of China’s latest round of government restructuring.

The new body will be responsible for...

sources

Secrss: 国家数据局又有新动作！副局长履新，沈竹林是谁？

NDRC: 机关党委任命沈竹林为创新和高技术发展司党支部书记

Caijing: 国家数据局逐渐成形，新任副局长曾推动“数据二十条”“东数西算”

October 14, 2023

Financing self-sufficiency

Beijing is doubling down on financial support for Chinese tech companies. On Wednesday, vice chairman of the securities regulator (CSRC) Chen Huaping delivered a clear message at an innovation forum: more capital support for tech is coming down the pike. “The CSRC will introduce a series of policy …

Beijing is doubling down on financial support for Chinese tech companies.
On Wednesday, vice chairman of the securities regulator (CSRC) Chen Huaping delivered a clear message at an innovation forum: more capital support for tech is coming down the pike.

“The CSRC will introduce a series of policy ...

sources

Caixin: 证监会陈华平：将出台资本市场支持高水平科技自立自强措施

October 14, 2023

More green shoots

China’s customs bureau released the monthly trade data for September on Friday. The headline: While exports and imports both continued to contract, both also saw improvement from August – sparking hopes that the worst of China’s trade slowdown has passed. The numbers: Exports contracted by 6.2% y/y…

China’s customs bureau released the monthly trade data for September on Friday.
The headline: While exports and imports both continued to contract, both also saw improvement from August – sparking hopes that the worst of China’s trade slowdown has passed.
The numbers:

Exports contracted by 6.2% y/y...

sources

GAC: 2023年9月进出口商品主要国别（地区）总值表（美元）

October 14, 2023

Bring home the bacon

China’s securities regulator (CSRC) is tightening the clamps on offshore investing. The latest: On Thursday, Reuters scooped that the CSRC has instructed brokerages to close all channels for new clients to make investments in offshore markets. The notice isn’t public. The CSRC is also calling on b…

China's securities regulator (CSRC) is tightening the clamps on offshore investing.

The latest: On Thursday, Reuters scooped that the CSRC has instructed brokerages to close all channels for new clients to make investments in offshore markets.
The notice isn’t public.

The CSRC is also calling on b...

sources

Reuters: China bans new offshore brokerage accounts in capital control move

Bloomberg: China Expands Clampdown on Offshore Brokers Targeting Locals

October 14, 2023

Wheat on repeat

China’s on track to smash through its wheat import quota – just like we predicted back in May. Chinese buyers already booked at least 9.56 million metric tons of wheat between January and August (Bloomberg). That puts wheat imports on track to exceed the 9.63 million ton annual quota by a big marg…

China's on track to smash through its wheat import quota – just like we predicted back in May.
Chinese buyers already booked at least 9.56 million metric tons of wheat between January and August (Bloomberg).

That puts wheat imports on track to exceed the 9.63 million ton annual quota by a big marg...

sources

Bloomberg: China Scours the World for Wheat After Heavy Rains Damage Its Harvest

World Trade Organization: (2019) CHINA – TARIFF RATE QUOTAS FOR CERTAIN AGRICULTURAL PRODUCTS

October 14, 2023

Getting the show back on the road

China’s car sales are picking up big time. After a shoddy few months of shrinking activity, September saw China’s domestic auto sales grow 9.5% y/y to 2.858 million units – the best September on record (Xinhua). Domestic new energy vehicle (NEV) sales grew 27.7% y/y to 904,000 units – giving them a…

China's car sales are picking up big time.

After a shoddy few months of shrinking activity, September saw China's domestic auto sales grow 9.5% y/y to 2.858 million units – the best September on record (Xinhua).
Domestic new energy vehicle (NEV) sales grew 27.7% y/y to 904,000 units – giving them a...

sources

Xinhua: 前三季度汽车工业数据发布：9月份汽车产销延续环同比双增长态势

CAAM: 2023年8月汽车工业产销情况

October 13, 2023

Less than meets the eye

Credit growth held up well in September, as strong government bond issuance offset a decline in bank loans. The latest: On Friday, China’s central bank (PBoC) released the monthly credit data for September. The data: Net new total social financing (TSF) hit RMB 4.1 trillion last month, up from RM…

Credit growth held up well in September, as strong government bond issuance offset a decline in bank loans.

The latest: On Friday, China’s central bank (PBoC) released the monthly credit data for September.

The data:

Net new total social financing (TSF) hit RMB 4.1 trillion last month, up from RM...

sources

PBoC: 2023年9月社会融资规模存量统计数据报告

PBoC: 2023年前三季度金融统计数据报告

October 13, 2023

Don’t mention the “D” word

China’s September price data did little to dispel persistent concerns around deflation. The latest: On Friday, the stats bureau (NBS) published inflation data for September. The headlines: The consumer price index (CPI) was flat in September compared with a year earlier, after rising 0.1% y/y in Au…

China’s September price data did little to dispel persistent concerns around deflation.
The latest: On Friday, the stats bureau (NBS) published inflation data for September.
The headlines:

The consumer price index (CPI) was flat in September compared with a year earlier, after rising 0.1% y/y in Au...

sources

NBS: 2023年9月份居民消费价格同比持平环比上涨0.2%

NBS: 2023年9月份工业生产者出厂价格同比下降2.5% 环比上涨0.4%

NBS: 国家统计局城市司首席统计师董莉娟解读2023年9月份CPI和PPI数据

October 13, 2023

MoSTly done

The government took a big step towards completing its reorganization. ICYMI: At the Two Sessions in March, Beijing released a wide-ranging Party-state revamping plan, with the aim of finishing the central government side of things by year-end. On Friday, the Party and State Council’s general offices…

The government took a big step towards completing its reorganization.
ICYMI: At the Two Sessions in March, Beijing released a wide-ranging Party-state revamping plan, with the aim of finishing the central government side of things by year-end.
On Friday, the Party and State Council's general offices...

sources

Gov.cn: 中共中央办公厅国务院办公厅关于调整工业和信息化部职责机构编制的通知

Gov.cn: 中共中央办公厅国务院办公厅关于调整生态环境部职责机构编制的通知

Gov.cn: 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

Gov.cn: 中共中央办公厅国务院办公厅关于调整中国社会科学院职责等事项的通知

Gov.cn: 中共中央办公厅国务院办公厅关于调整国家卫生健康委员会职责机构编制的通知

October 13, 2023

Proper belter

Xi Jinping’s Jiangxi road trip continued on Thursday. He chaired a symposium on the Yangtze River Economic Belt (YREB) in Nanchang. ICYDK: The YREB is a big deal. The initiative aims to more tightly connect China’s top economic hub, the Yangtze River Delta (YRD) region, and several densely populat…

Xi Jinping's Jiangxi road trip continued on Thursday.
He chaired a symposium on the Yangtze River Economic Belt (YREB) in Nanchang.
ICYDK: The YREB is a big deal.

The initiative aims to more tightly connect China’s top economic hub, the Yangtze River Delta (YRD) region, and several densely populat...

sources

Gov.cn: 习近平主持召开进一步推动长江经济带高质量发展座谈会强调：进一步推动长江经济带高质量发展更好支撑和服务中国式现代化

October 13, 2023

All inclusive

Beijing wants banks to show everyone the money. On Wednesday, the State Council released a document on improving financial inclusion. Some context: China’s financial system is dominated by large state-owned banks, which lend primarily to large state-owned companies. Top policymakers have been all a…

Beijing wants banks to show everyone the money.
On Wednesday, the State Council released a document on improving financial inclusion.
Some context: China’s financial system is dominated by large state-owned banks, which lend primarily to large state-owned companies.

Top policymakers have been all a...

sources

State Council: 国务院关于推进普惠金融高质量发展的实施意见

Pages: 1234567891011121314151617181920212223242526272829303132333435363738394041424344454647484950515253545556575859606162636465666768697071727374757677787980818283848586878889909192939495969798991001011021031041051061071081091101111121131141151161171181191201211221231241251261271281291301311321331341351361371381391401411421431441451461471481491501511521531541551561571581591601611621631641651661671681691701711721731741751761771781791801811821831841851861871881891901911921931941951961971981992002012022032042052062072082092102112122132142152162172182192202212222232242252262272282292302312322332342352362372382392402412422432442452462472482492502512522532542552562572582592602612622632642652662672682692702712722732742752762772782792802812822832842852862872882892902912922932942952962972982993003013023033043053063073083093103113123133143153163173183193203213223233243253263273283293303313323333343353363373383393403413423433443453463473483493503513523533543553563573583593603613623633643653663673683693703713723733743753763773783793803813823833843853863873883893903913923933943953963973983994004014024034044054064074084094104114124134144154164174184194204214224234244254264274284294304314324334344354364374384394404414424434444454464474484494504514524534544554564574584594604614624634644654664674684694704714724734744754764774784794804814824834844854864874884894904914924934944954964974984995005015025035045055065075085095105115125135145155165175185195205215225235245255265275285295305315325335345355365375385395405415425435445455465475485495505515525535545555565575585595605615625635645655665675685695705715725735745755765775785795805815825835845855865875885895905915925935945955965975985996006016026036046056066076086096106116126136146156166176186196206216226236246256266276286296306316326336346356366376386396406416426436446456466476486496506516526536546556566576586596606616626636646656666676686696706716726736746756766776786796806816826836846856866876886896906916926936946956966976986997007017027037047057067077087097107117127137147157167177187197207217227237247257267277287297307317327337347357367377387397407417427437447457467477487497507517527537547557567577587597607617627637647657667677687697707717727737747757767777787797807817827837847857867877887897907917927937947957967977987998008018028038048058068078088098108118128138148158168178188198208218228238248258268278288298308318328338348358368378388398408418428438448458468478488498508518528538548558568578588598608618628638648658668678688698708718728738748758768778788798808818828838848858868878888898908918928938948958968978988999009019029039049059069079089099109119129139149159169179189199209219229239249259269279289299309319329339349359369379389399409419429439449459469479489499509519529539549559569579589599609619629639649659669679689699709719729739749759769779789799809819829839849859869879889899909919929939949959969979989991000100110021003100410051006100710081009101010111012101310141015101610171018101910201021102210231024102510261027102810291030103110321033103410351036103710381039104010411042104310441045104610471048104910501051105210531054105510561057105810591060106110621063106410651066106710681069107010711072107310741075107610771078107910801081108210831084108510861087108810891090109110921093109410951096109710981099110011011102110311041105110611071108110911101111111211131114111511161117111811191120112111221123112411251126112711281129113011311132113311341135113611371138113911401141114211431144114511461147114811491150115111521153115411551156115711581159116011611162