string(13) "markets-macro"

Macro

September 26, 2023

Longread | Commerce finalizes CHIPS Act guardrails

Isn’t it nice to get some closure? On Friday, the US Department of Commerce released finalized national security guardrails to prevent the “improper use” of CHIPS and Science Act subsidies. Building on draft rules released in March, the finalized guardrails add specificity to limitations on c… Username Password Remember Me Forgot Password

Isn't it nice to get some closure?
On Friday, the US Department of Commerce released finalized national security guardrails to prevent the "improper use" of CHIPS and Science Act subsidies.

Building on draft rules released in March, the finalized guardrails add specificity to limitations on c...

sources

Federal Register: Final: Preventing the Improper Use of CHIPS Act Funding

Federal Register: Draft: Preventing the Improper Use of CHIPS Act Funding

Whitehouse.gov: FACT SHEET: CHIPS and Science Act Will Lower Costs, Create Jobs, Strengthen Supply Chains, and Counter China

US Commerce Department: NOTICE OF FUNDING OPPORTUNITY (NOFO) CHIPS Incentives Program – Commercial Fabrication Facilities

White House: Press Briefing by Press Secretary Karine Jean-Pierre and Commerce Secretary Gina Raimondo

Taipei Times: TSMC chairman urges government chip initiative

The Guardian: ‘They would not listen to us’: inside Arizona’s troubled chip plant

Yonhap News Agency YNA: (LEAD) SK hynix not sure yet whether to apply for Chips Act funding: CEO

US Treasury: Treasury Department Mobilizes Semiconductor Supply Chain Investment Incentives with Key CHIPS Investment Tax Credit Guidance

White House: Press Briefing by Press Secretary Karine Jean-Pierre and Commerce Secretary Gina Raimondo

Business Korea: SK hynix Sandwiched between US, China in Global Power Struggle

Business Korea: Samsung Electronics Cuts NAND Flash Production by 5% Mainly at Xian Plant

US Gov: Preventing the Improper Use of Creating Helpful Incentives to Produce Semiconductors for America Act Funding

Reuters: US reports big interest in $52 billion semiconductor chips funding

ICWise: 美国略作调整？

September 25, 2023

Darling, stay with me

As foreign companies and financial investors sour on China, local authorities are making greater effort to keep them engaged in the domestic market. On Wednesday, the Beijing municipal government published draft regulations to promote foreign investment in compliance with the Foreign Investment Law….

As foreign companies and financial investors sour on China, local authorities are making greater effort to keep them engaged in the domestic market.
On Wednesday, the Beijing municipal government published draft regulations to promote foreign investment in compliance with the Foreign Investment Law....

sources

Beijing.gov: 关于对《北京市外商投资条例》（草案征求意见稿）公开征集意见的公告

Shanghai.gov: 上海市人民政府办公厅关于印发《上海市落实〈关于在有条件的自由贸易试验区和自由贸易港试点对接国际高标准推进制度型开放的若干措施〉实施方案》的通知

Bloomberg: China Mulls Easing Foreign Stake Limits to Lure Global Funds

September 25, 2023

Dead before arrival

Prospects for a property tax to boost revenue for cash-strapped local governments are fading by the day. On Wednesday, the government of Chongqing, a city of around 30 million people, announced it will no longer collect property tax from some buyers. ICYDK: Chongqing was one of two cities selected …

Prospects for a property tax to boost revenue for cash-strapped local governments are fading by the day.
On Wednesday, the government of Chongqing, a city of around 30 million people, announced it will no longer collect property tax from some buyers.
ICYDK: Chongqing was one of two cities selected ...

sources

Securities Times: 房地产税立法暂缓税惠减负添活力正当时

Chongqing Municipal Government: 重庆市人民政府关于修改《重庆市关于开展对部分个人住房征收房产税改革试点的暂行办法》和《重庆市个人住房房产税征收管理实施细则》的决定

The Paper: 重庆调整个人住房房产税政策：“三无”人员首套普通住房不再征房产税

September 25, 2023

We all need samba(dy) to lean on

Sino-Brazilian ties are experiencing a renaissance. Politburo Standing Committee member Li Xi – the Party’s seventh-ranked official – finished a five-day trip to Brazil on Friday. He met with all the Brazilian top dogs, including: President Luiz Inacio Lula da Silva Vice President Geraldo Alckmin S…

Sino-Brazilian ties are experiencing a renaissance.
Politburo Standing Committee member Li Xi – the Party’s seventh-ranked official – finished a five-day trip to Brazil on Friday.
He met with all the Brazilian top dogs, including:

President Luiz Inacio Lula da Silva
Vice President Geraldo Alckmin
S...

sources

China Daily: Li Xi: China to deepen practical cooperation with Brazil

September 25, 2023

It’s good to talk

China and the US are building new communication channels for economic and financial issues. On Friday, the US Treasury and People’s Bank of China (PBoC) announced the establishment of: An Economic Working Group with China’s finance ministry (MoF) A Financial Working Group with the PBoC The formati…

China and the US are building new communication channels for economic and financial issues.
On Friday, the US Treasury and People's Bank of China (PBoC) announced the establishment of:

An Economic Working Group with China’s finance ministry (MoF)
A Financial Working Group with the PBoC

The formati...

sources

US Treasury: Treasury Department Announces Launch of Economic and Financial Working Groups with the People’s Republic of China

PBoC: 中美成立经济领域工作组

Bloomberg: US, China Form Economy Working Groups in Sign of Better Ties

CCTV: 中美成立经济领域工作组，坐下来，谈起来

September 25, 2023

How to spend it

China needs to unlock the spending potential of its migrant workers to expand domestic consumption. That was one of the insights shared by government advisor Ning Jizhe in a speech he delivered Saturday on how to turn around the economy. Why we care about Ning: He’s a deputy director of the economic…

China needs to unlock the spending potential of its migrant workers to expand domestic consumption.
That was one of the insights shared by government advisor Ning Jizhe in a speech he delivered Saturday on how to turn around the economy.
Why we care about Ning: He's a deputy director of the economic...

sources

Caixin: 以改革为动力，推动经济整体好转

September 25, 2023

New-type industrialization accelerates

The push for “new-type industrialization” (NTI) is gaining momentum. New-type industra-what? NTI combines Beijing’s goals of industrial upgrading and achieving tech self-sufficiency to: Grow the advanced manufacturing industry Make supply chains more secure Develop core and cutting-edge techno…

The push for "new-type industrialization” (NTI) is gaining momentum.
New-type industra-what?
NTI combines Beijing's goals of industrial upgrading and achieving tech self-sufficiency to:

Grow the advanced manufacturing industry
Make supply chains more secure
Develop core and cutting-edge techno...

sources

Xinhua: 习近平就推进新型工业化作出重要指示

September 25, 2023

Long time no Syria

Xi Jinping cozied up to Syrian President Bashar al-Assad on Friday, in Hangzhou. In a joint statement, China pledged support for Syria (MoFA): “Safeguarding its national independence, sovereignty, unity and territorial integrity…and taking a development path that suits their national conditions.”…

Xi Jinping cozied up to Syrian President Bashar al-Assad on Friday, in Hangzhou.
In a joint statement, China pledged support for Syria (MoFA):

"Safeguarding its national independence, sovereignty, unity and territorial integrity...and taking a development path that suits their national conditions."...

sources

MoFA: 中华人民共和国和阿拉伯叙利亚共和国关于建立战略伙伴关系的联合声明（全文）

CCTV: 习近平会见叙利亚总统

Reuters: China's Xi calls on West to lift sanctions against war-ravaged Syria

September 25, 2023

When the chips are down, double down on the chips

China is pulling out all the stops to keep South Korean chips flowing. On Saturday, Xi Jinping met with South Korean Prime Minister Han Duck-soo in Hangzhou. His plea: Don’t cut China off from high-end semiconductors. Some context: Seoul is one of Beijing’s final sources of high-end chips and has be…

China is pulling out all the stops to keep South Korean chips flowing.
On Saturday, Xi Jinping met with South Korean Prime Minister Han Duck-soo in Hangzhou.
His plea: Don’t cut China off from high-end semiconductors.
Some context: Seoul is one of Beijing’s final sources of high-end chips and has be...

sources

MoFA: 习近平会见韩国总理韩德洙

Reuters: China's Xi seriously considering South Korea visit, Yonhap reports

September 23, 2023

Driving Miss Data

Officials are flooring it for next-gen infrastructure buildout. On Thursday, the Ministry of Transportation (MoT) released opinions on speeding up smart highway construction. Background: MoT has pursued several initiatives on smart highways and data collection, but previous plans have been vague. …

Officials are flooring it for next-gen infrastructure buildout.
On Thursday, the Ministry of Transportation (MoT) released opinions on speeding up smart highway construction.
Background: MoT has pursued several initiatives on smart highways and data collection, but previous plans have been vague. ...

sources

MoT: 通运输部关于推动交通运输领域新型基础设施建设的指导意见

September 23, 2023

Panic over

Phew! Looks like China’s exports of two critical minerals, gallium and germanium, will be flowing again soon. At Thursday’s Ministry of Commerce (MoFCoM) regular press briefing, spokesperson He Yadong disclosed that several companies have now been granted export licenses for the minerals that are ke…

Phew! Looks like China's exports of two critical minerals, gallium and germanium, will be flowing again soon.
At Thursday's Ministry of Commerce (MoFCoM) regular press briefing, spokesperson He Yadong disclosed that several companies have now been granted export licenses for the minerals that are ke...

sources

MofCom: 商务部海关总署公告2023年第23号关于对镓、锗相关物项实施出口管制的公告

Reuters: China exported no germanium, gallium in August after export curbs

September 23, 2023

A golden time for spending

Two important holidays for consumer spending are approaching, and Beijing wants to make sure people get their wallets out. At a Thursday presser, ministry of commerce (MofCom) spokesperson He Yadong revealed that: “MofCom is organizing a series of consumption promotion activities [over the holida…

Two important holidays for consumer spending are approaching, and Beijing wants to make sure people get their wallets out.
At a Thursday presser, ministry of commerce (MofCom) spokesperson He Yadong revealed that:

“MofCom is organizing a series of consumption promotion activities [over the holida...

sources

MofCom: 商务部召开例行新闻发布会（2023年9月21日）

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