string(13) "markets-macro"

Macro

September 23, 2023

Bonds without benefits

As the finance ministry (MoF) fleshes out plans for local governments to deal with their sky-high hidden debt loads, there may be strings attached to any help. On Thursday, 21 Century Biz reported that provincial-level authorities that are allocated a bond quota to refinance their off-balance-sheet … Username Password Remember Me Forgot Password

As the finance ministry (MoF) fleshes out plans for local governments to deal with their sky-high hidden debt loads, there may be strings attached to any help.
On Thursday, 21 Century Biz reported that provincial-level authorities that are allocated a bond quota to refinance their off-balance-sheet ...

sources

21st Century Biz: 城投债风浪再起

September 23, 2023

Nickelbacked out

China Baowu Steel has suspended a planned purchase of Indonesian nickel pig iron assets worth between USD 3-4 billion from Chinese metals producer Tsingshan. That’s according to a Caixin report on Wednesday that cited people close to the negotiations. It would have been a big deal for both: Sta…

China Baowu Steel has suspended a planned purchase of Indonesian nickel pig iron assets worth between USD 3-4 billion from Chinese metals producer Tsingshan.

That's according to a Caixin report on Wednesday that cited people close to the negotiations.

It would have been a big deal for both:

Sta...

sources

Caixin: 独家｜中国宝武暂缓收购青山控股印尼镍生产线数十亿美元交易引悬念

Reuters: UPDATE 1-China Baowu puts deal for Tsingshan nickel assets on hold - report

September 22, 2023

Li Qiang is a big fan of tech

Technological independence is China’s number one priority. Premier Li Qiang made this clear during a visit to several Beijing-based “little giants” on Thursday. Li said: “[We] must resolutely ensure that key technologies and processes are built on a foundation of independence, firmly holding the in…

Technological independence is China's number one priority.
Premier Li Qiang made this clear during a visit to several Beijing-based "little giants" on Thursday. Li said:

“[We] must resolutely ensure that key technologies and processes are built on a foundation of independence, firmly holding the in...

sources

Xinhua: 李强在北京市调研专精特新企业时强调聚力科技创新深耕细分领域为推进科技自立自强稳定产业链供应链发挥更大作用

September 22, 2023

More of the same

Beijing wants continuity in its Xinjiang policy. China’s fourth-ranked official and ethnic policy czar, Wang Huning, visited the region this week. Wang helmed a work conference in Kashgar on “paired aid.” That involves pairing wealthy localities with less developed regions to offer development su…

Beijing wants continuity in its Xinjiang policy.
China's fourth-ranked official and ethnic policy czar, Wang Huning, visited the region this week.
Wang helmed a work conference in Kashgar on "paired aid."

That involves pairing wealthy localities with less developed regions to offer development su...

sources

CCTV: [视频]第九次全国对口支援新疆工作会议召开

September 22, 2023

Back to the power base

Xi Jinping’s giving us a lesson in public relations 101. The big man’s back in Zhejiang province (where he was Party secretary from 2002 to 2007) in preparation for the 19th Asian Games, which kicks off in Hangzhou on Friday. He will mingle with leaders from a bunch of strategically important Asian…

Xi Jinping's giving us a lesson in public relations 101.
The big man's back in Zhejiang province (where he was Party secretary from 2002 to 2007) in preparation for the 19th Asian Games, which kicks off in Hangzhou on Friday.

He will mingle with leaders from a bunch of strategically important Asian...

sources

Xinhua: Xi to attend opening ceremony of 19th Asian Games, hold diplomatic events

Xinhua: 习近平在浙江绍兴市考察调研

Xinhua: 习近平在浙江金华市考察调研

September 22, 2023

For I would rather reform the world, than have the world reform me

China’s taking its global governance message to the streets. On Thursday, Vice President Han Zheng spoke at the 78th session of the UN General Assembly armed with a long list of ideas on how to make the world a fairer place. No surprises here: Han’s suggestions fit snugly into Xi Jinping’s Global De…

China’s taking its global governance message to the streets.
On Thursday, Vice President Han Zheng spoke at the 78th session of the UN General Assembly armed with a long list of ideas on how to make the world a fairer place.
No surprises here: Han’s suggestions fit snugly into Xi Jinping’s Global De...

sources

MoFA: 韩正在第78届联合国大会一般性辩论上的讲话（全文）

September 22, 2023

The forces awaken

Xi Jinping has a new catchphrase: “New productive forces.” This phrase appeared in official disclosure for the very time during Xi’s trip to Heilongjiang in early September. At a symposium, Xi called on officials to: “Integrate scientific and technological innovation resources, lead the development…

Xi Jinping has a new catchphrase: “New productive forces.”
This phrase appeared in official disclosure for the very time during Xi's trip to Heilongjiang in early September.
At a symposium, Xi called on officials to:

“Integrate scientific and technological innovation resources, lead the development...

sources

Xinhua: 习近平在黑龙江考察时强调牢牢把握在国家发展大局中的战略定位奋力开创黑龙江高质量发展新局面

September 22, 2023

G’day again, Mate

Huawei’s Mate 60 is still making geopolitical waves. On Tuesday, US Commerce Secretary Gina Raimondo told lawmakers that her agency has thus far turned up no evidence that China can produce advanced semiconductors at scale. But she also hinted that investigation into the chips used in the Huawei Ma…

Huawei's Mate 60 is still making geopolitical waves.
On Tuesday, US Commerce Secretary Gina Raimondo told lawmakers that her agency has thus far turned up no evidence that China can produce advanced semiconductors at scale.

But she also hinted that investigation into the chips used in the Huawei Ma...

sources

Bloomberg: No Evidence That China Can Make Advanced Chips ‘at Scale,’ US Says

MoFA: Foreign Ministry Spokesperson Mao Ning’s Regular Press Conference on September 20, 2023

September 22, 2023

I know you are but what am I

Oh boy! More hot takes from China’s intelligence service! On Wednesday, the Ministry of State Security (MSS) published a laundry list of complaints regarding US cyber-misconduct. Background: MSS’s new WeChat account has given us a peek into the opaque thinking of China’s intelligence apparatus. Wed…

Oh boy! More hot takes from China's intelligence service!
On Wednesday, the Ministry of State Security (MSS) published a laundry list of complaints regarding US cyber-misconduct.
Background: MSS's new WeChat account has given us a peek into the opaque thinking of China's intelligence apparatus.
Wed...

sources

MSS WeChat: 起底美国情报机关网攻窃密的主要卑劣手段

SCMP: US spy bureau NSA ‘hacked Huawei HQ’: China confirms Snowden leak

September 22, 2023

Li Qiang’s adventures in babysitting

‘Minor’ legislation could have major repercussions for China’s platforms. On Wednesday, Li Qiang oversaw the State Council’s review and approval of draft regulations on the protection of minors online. Background: China’s cyberspace watchdog (CAC) first released the draft regulations for public com…

'Minor' legislation could have major repercussions for China's platforms.
On Wednesday, Li Qiang oversaw the State Council's review and approval of draft regulations on the protection of minors online.
Background: China’s cyberspace watchdog (CAC) first released the draft regulations for public com...

sources

The Paper: 国常会审议通过《清理拖欠企业账款专项行动方案》《未成年人网络保护条例（草案）》

September 22, 2023

Promising green shoots in August, but the private sector still lags

To view this note as a PDF, click here. Key takeaways China’s August econ numbers showed some promising green shoots of recovery, which is particularly welcome after months of deteriorating momentum. Indeed, this print very well could be an early sign of a bottoming in activity, with better days ah…

To view this note as a PDF, click here.
Key takeaways

China’s August econ numbers showed some promising green shoots of recovery, which is particularly welcome after months of deteriorating momentum.
Indeed, this print very well could be an early sign of a bottoming in activity, with better days ah...

Download PDF

September 21, 2023

Risky business

China needs foreign companies to help it get to a place where it doesn’t need foreign companies. On Wednesday, the State Council put promoting “new-type industrialization” at the top of the agenda for its weekly executive meeting. What exactly is “new-type industrialization?” Minister of Industry an…

China needs foreign companies to help it get to a place where it doesn't need foreign companies.
On Wednesday, the State Council put promoting “new-type industrialization” at the top of the agenda for its weekly executive meeting.
What exactly is “new-type industrialization?”
Minister of Industry an...

sources

Gov.cn: 李强主持召开国务院常务会议

Gov.cn: 国务院新闻办就“加快推进新型工业化做强做优做大实体经济”举行发布会

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