string(13) "markets-macro"

Macro

October 9, 2023

Mixed picture for mid-Autumn consumption

Household spending and travel is finally starting to push back above pre-pandemic levels in China, even as growth rates remain subdued, at least compared to 2019. That’s according to the latest data on tourism and spending for last week’s October holiday. The latest: On Friday evening, the Ministr… Username Password Remember Me Forgot… Read More »

Household spending and travel is finally starting to push back above pre-pandemic levels in China, even as growth rates remain subdued, at least compared to 2019.

That's according to the latest data on tourism and spending for last week's October holiday.

The latest: On Friday evening, the Ministr...

sources

Gov.cn: 消费掀热潮活力再释放——2023中秋国庆假期盘点

Gov.cn: 2023年中秋节、国庆节假期国内旅游出游8.26亿人次同比增长71.3%

October 9, 2023

Debbie downer

Optimism over August’s encouraging economic data is misplaced, according to a top economic advisor. On September 29, Liu Yuanchun – president of Shanghai University of Finance and Economics and a trusted economic advisor to Xi Jinping – said China’s economy isn’t about to turn around. Why we care ab…

Optimism over August's encouraging economic data is misplaced, according to a top economic advisor.
On September 29, Liu Yuanchun – president of Shanghai University of Finance and Economics and a trusted economic advisor to Xi Jinping – said China’s economy isn’t about to turn around.
Why we care ab...

sources

21st Century Biz: 刘元春：8月经济边际改善仍需加强政策储备

October 5, 2023

Fighting with one hand: Why Beijing’s property support measures are falling short

The property sector increasingly looks like it will continue to be a drag on economic growth in China throughout the remainder of the year – and into the next. Despite their best efforts, Chinese authorities haven’t been able to convince the public that conditions are yet right for buying a new hom…

The property sector increasingly looks like it will continue to be a drag on economic growth in China throughout the remainder of the year – and into the next.

Despite their best efforts, Chinese authorities haven’t been able to convince the public that conditions are yet right for buying a new hom...

October 5, 2023

Slowly slowly up up

Small signs continue to emerge suggesting that China’s economy is – ever so slowly – turning the corner. The latest: On Friday, the stats bureau (NBS) released September PMI data, showing general-but-small improvement in activity for both manufacturing and services. Quick refresher: The PMI g…

Small signs continue to emerge suggesting that China’s economy is – ever so slowly – turning the corner.

The latest: On Friday, the stats bureau (NBS) released September PMI data, showing general-but-small improvement in activity for both manufacturing and services.

Quick refresher: The PMI g...

sources

NBS: 2023年9月中国采购经理指数运行情况

October 4, 2023

Lower your expectations

China’s property market is finally – finally! – showing nascent signs of stabilizing. But a fully-fledged recovery is surely still a ways off. On Saturday, data from China Real Estate Information Corp. (CRIC) showed that September home sales by China’s top 100 developers grew 17.9% m/m. Some cont…

China's property market is finally – finally! – showing nascent signs of stabilizing.

But a fully-fledged recovery is surely still a ways off.

On Saturday, data from China Real Estate Information Corp. (CRIC) showed that September home sales by China’s top 100 developers grew 17.9% m/m.

Some cont...

sources

CRIC: 2023年1-9月中国房地产企业销售TOP100排行榜

China Index Academy: 9月房价走势仍然承压，百城二手房价格普跌

October 4, 2023

Race to the Finnish line

China’s world-leading battery industry continues its journey to the West. And Europe is emerging as the favorite investment destination. Some specifics: Ningbo Shanshan is the latest Chinese battery maker headed into Europe, planning to invest as much as EUR 1.28 billion into a battery materials m…

China's world-leading battery industry continues its journey to the West.

And Europe is emerging as the favorite investment destination.

Some specifics: Ningbo Shanshan is the latest Chinese battery maker headed into Europe, planning to invest as much as EUR 1.28 billion into a battery materials m...

sources

Caixin Global: Chinese Battery-Materials Maker to Invest $1.35 Billion in Finnish Plant

New York Times: Battery Factories Are Driving Chinese Investment in Europe

October 4, 2023

Wrong time to get greedy

China Evergrande Group’s founder is in the authorities’ crosshairs. The reason: He attempted to move some of his wealth beyond Beijing’s reach – even as his firm struggled to pay its bills on time. That’s according to the WSJ, which on Sunday cited unnamed sources as saying that Evergrande chairm…

China Evergrande Group’s founder is in the authorities’ crosshairs.

The reason: He attempted to move some of his wealth beyond Beijing’s reach – even as his firm struggled to pay its bills on time.

That’s according to the WSJ, which on Sunday cited unnamed sources as saying that Evergrande chairm...

sources

WSJ: China Comes Under Growing Pressure to Fix the Country’s Housing Market

October 3, 2023

An outsider takes the fiscal reins: Lan Fo’an moves from Shanxi Party secretary to finance minister

Well, that was a surprise. Last Thursday, the Ministry of Finance (MoF) named Shanxi province’s Party secretary and governor, Lan Fo’an, as MoF Party secretary. Lan is all but certain to become Minister of Finance, pending approval by the legislature at its next meeting – which is likely to be held…

Well, that was a surprise.
Last Thursday, the Ministry of Finance (MoF) named Shanxi province’s Party secretary and governor, Lan Fo’an, as MoF Party secretary.

Lan is all but certain to become Minister of Finance, pending approval by the legislature at its next meeting – which is likely to be held...

September 30, 2023

The PBoC gets its fix

Beijing’s verbal and outright interventions in the forex market are starting to pay dividends. Specifically, forex trading is drying up and short positions against the RMB are starting to weaken. While these developments won’t stop the currency’s decline against the dollar, they should take some pr…

Beijing's verbal and outright interventions in the forex market are starting to pay dividends.

Specifically, forex trading is drying up and short positions against the RMB are starting to weaken.
While these developments won't stop the currency's decline against the dollar, they should take some pr...

sources

Bloomberg: China’s Tight Grip on Yuan Crushes Trading Volume Before Holiday

Bloomberg: Yuan Flirts With Daily Trading Limit, Testing China’s Red Line

September 30, 2023

The eagle has Lan-ded

There’s a new budgetary bossman in Beijing. On September 28, Shanxi Party Secretary Lan Fo’an was appointed Party secretary of the Ministry of Finance (MoF). Lan is all but certain to become minister of finance when the national legislature (NPCSC) meets next – likely in mid-to-late October. Some …

There’s a new budgetary bossman in Beijing.
On September 28, Shanxi Party Secretary Lan Fo’an was appointed Party secretary of the Ministry of Finance (MoF).

Lan is all but certain to become minister of finance when the national legislature (NPCSC) meets next – likely in mid-to-late October.

Some ...

sources

MoF: 蓝佛安同志任财政部党组书记

Gov.cn: 蓝佛安简历

September 30, 2023

Flagship city demands flagship solutions

Xi Jinping’s new megacity has done away with property presales. Citing local housing authorities in the Xiong’an New Area, Xinhua reported on September 20 that all new homes in the city must be sold post-construction. ICYDK: Xiong’an is being built 100 kilometers southwest of Beijing, and will eve…

Xi Jinping’s new megacity has done away with property presales.

Citing local housing authorities in the Xiong’an New Area, Xinhua reported on September 20 that all new homes in the city must be sold post-construction.

ICYDK: Xiong'an is being built 100 kilometers southwest of Beijing, and will eve...

sources

Xinhua: 河北雄安新区取消商品住房预售公共服务“租售同权”

Fangchan: 现房销售：市场与政策研究

NBS: 2022年全国房地产开发投资下降10.0%

September 30, 2023

Southbound and up

Beijing continues to gradually integrate mainland and Hong Kong financial markets. On Thursday, multiple agencies – including the central bank (PBoC) and financial regulators from Hong Kong and Macau – announced plans to expand the Greater Bay Area (GBA) Wealth Management Connect (WMC). Some context…

Beijing continues to gradually integrate mainland and Hong Kong financial markets.
On Thursday, multiple agencies – including the central bank (PBoC) and financial regulators from Hong Kong and Macau – announced plans to expand the Greater Bay Area (GBA) Wealth Management Connect (WMC).
Some context...

sources

PBoC: 优化粤港澳大湾区“跨境理财通”业务试点进一步推进大湾区金融市场互联互通

HKMA: Enhancements to the Cross-boundary Wealth Management Connect Pilot Scheme Strengthening Financial Market Connectivity in the GBA

Caixin: “跨境理财通”拟五方面优化投资主体和可投产品均有望扩容

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