string(13) "markets-macro"

Macro

September 13, 2023

Modulate your expectations

On Wednesday, FCC Chairperson Jessica Rosenworcel responded to US House Select Committee’s demands to investigate the risks posed by Chinese cellular module manufacturers. Recap: In August, the Select Committee wrote Rosenworcel, outlining risk scenarios concerning foreign-made modul… Username Password Remember Me Forgot Password

On Wednesday, FCC Chairperson Jessica Rosenworcel responded to US House Select Committee's demands to investigate the risks posed by Chinese cellular module manufacturers.
Recap: In August, the Select Committee wrote Rosenworcel, outlining risk scenarios concerning foreign-made modul...

sources

Reuters: US FCC chair says China's Quectel, Fibocom may pose national security risks

House.gov: Dear Chairwoman Rosenworcel, We write to request information about the security risks posed by cellular connectivity modules provided by companies subject to the jurisdiction, direction, or control of the People’s Republic of China (PRC) or the Chinese Communist Party (CCP).

Light Reading: Is the IoT module debate about security, competition or xenophobia?

Quectel: Quectel response to FCC about IoT module security

Fibocom: Fibocom Responded to Alleged Security Threats about its Modules

September 13, 2023

Beijing futurama

Beijing just published its 12-year wishlist for sci-tech innovation. On Friday, the Beijing municipal government released a plan to promote innovation and development in future industries through to 2035. It covers six sectors, including ICT, health, manufacturing, energy, new materials, and space…

It covers six sectors, including ICT, health, manufacturing, energy, new materials, and space...

sources

Beijing Gov: 北京市人民政府办公厅关于印发《北京市促进未来产业创新发展实施方案》的通知

September 13, 2023

FX around and find out

China’s currency managers are spoiling for a fight with CNY short-sellers. That was made crystal clear in a meeting readout from the forex regulator (SAFE) on Monday. In unusually stark terms, officials said they are ready to step up currency intervention, particularly if more aggressive short pos…

China's currency managers are spoiling for a fight with CNY short-sellers.

That was made crystal clear in a meeting readout from the forex regulator (SAFE) on Monday.

In unusually stark terms, officials said they are ready to step up currency intervention, particularly if more aggressive short pos...

sources

SAFE: 全国外汇市场自律机制专题会议在京召开

Bloomberg: China Warns Traders on Yuan Speculation, Fueling Sharp Rebound

September 13, 2023

Little cause for celebration

China’s central bank released the credit data for August late on Monday. The headlines: Net new total social financing (TSF) hit 3.12 trillion last month, versus the consensus forecast of RMB 2.7 trillion. Net new bank loans were RMB 1.36 trillion in August, higher than the forecasted RMB 1.25 tril…

China’s central bank released the credit data for August late on Monday.
The headlines:

Net new total social financing (TSF) hit 3.12 trillion last month, versus the consensus forecast of RMB 2.7 trillion.
Net new bank loans were RMB 1.36 trillion in August, higher than the forecasted RMB 1.25 tril...

sources

PBoC: 2023年8月金融统计数据报告

Bloomberg: China Credit Climbs More Than Forecast as Banks Boost Loans

September 13, 2023

The (data) price is right

The Ministry of Finance (MoF) is trying to help companies figure out the financial value of their data. Last Friday, the China Asset Appraisal Association, and industry body affiliated with the MoF, released guidance on data asset appraisals. Some context: In August, the MoF released rules outlining…

The Ministry of Finance (MoF) is trying to help companies figure out the financial value of their data.
Last Friday, the China Asset Appraisal Association, and industry body affiliated with the MoF, released guidance on data asset appraisals.
Some context: In August, the MoF released rules outlining...

sources

China Appraisal Society: 数据资产评估指导意见

21st Century Biz: 《数据资产评估指导意见》出台，提供数据估值实操指南、强调质量评价

September 13, 2023

Power to the people’s currency

Officials are looking to boost China’s pricing power within global commodities markets. That was the message delivered Friday by Fang Xinghai, vice chairman of the securities regulator (CSRC), at an international futures forum in Zhengzhou, Henan province – home to the world’s second-largest agricul…

Officials are looking to boost China's pricing power within global commodities markets.
That was the message delivered Friday by Fang Xinghai, vice chairman of the securities regulator (CSRC), at an international futures forum in Zhengzhou, Henan province – home to the world’s second-largest agricul...

sources

Securities Times: 重磅！方星海最新发声：期货行业要进一步坚定开放的决心和信心，稳步扩大高水平对外开放

September 12, 2023

Strong feelings about hurt feelings

The public is resisting an expansion of the government’s policing power. The outcry against proposed changes to the Public Security Administration Punishments Law (PSAPL) prompted the legislature’s Legislative Work Committee to issue a rare statement on Monday, saying (we’re paraphrasing) (NPC): We…

The public is resisting an expansion of the government’s policing power.
The outcry against proposed changes to the Public Security Administration Punishments Law (PSAPL) prompted the legislature's Legislative Work Committee to issue a rare statement on Monday, saying (we're paraphrasing) (NPC):

We...

sources

NPC: 全国人大常委会法工委发言人办公室就治安管理处罚法修订草案公开征求意见有关情况作出回应

NPC Observer: 中华人民共和国治安管理处罚法(修订草案)

NYT: China May Ban Clothes That Hurt People’s Feelings. People Are Outraged.

September 12, 2023

Make peace while the sun shines

Beijing’s point man on Taiwan just got one more job. On Monday, Wang Huning – China’s fourth-ranked official – was elected president of the China Council for the Promotion of Peaceful National Reunification (CCPPR). ICYDK: The Party-sponsored Council describes itself as a “national, non-profit organ…

Beijing's point man on Taiwan just got one more job.
On Monday, Wang Huning – China's fourth-ranked official – was elected president of the China Council for the Promotion of Peaceful National Reunification (CCPPR).
ICYDK: The Party-sponsored Council describes itself as a “national, non-profit organ...

sources

People's Daily: 中国和平统一促进会十届一次理事大会召开王沪宁出席

US State Department: Designation of the National Association for China’s Peaceful Unification (NACPU) as a Foreign Mission of the PRC

September 12, 2023

Have some standards

It will soon be easier for companies to set their own operational standards. The market regulator (SAMR) recently released updated measures for promoting enterprise standardization. They go into effect next year. Back up a little: The measures regulate how companies should stay compliant with – a…

It will soon be easier for companies to set their own operational standards.
The market regulator (SAMR) recently released updated measures for promoting enterprise standardization.

They go into effect next year.

Back up a little: The measures regulate how companies should stay compliant with – a...

sources

Gov.cn: 《企业标准化促进办法》将于2024年施行

September 12, 2023

Li Qiang’s Eurovision

Premier Li Qiang is on a mission to win over Europe’s leading Sino-skeptics. On Saturday and Sunday, Li met on the sidelines of the G20 with: EU Council President Charles Michel EU Commission President Ursula von der Leyen (VDL) Italian Prime Minister Giorgia Meloni Some context: Beijing dodged a …

Premier Li Qiang is on a mission to win over Europe’s leading Sino-skeptics.
On Saturday and Sunday, Li met on the sidelines of the G20 with:

EU Council President Charles Michel
EU Commission President Ursula von der Leyen (VDL)
Italian Prime Minister Giorgia Meloni

Some context: Beijing dodged a ...

sources

MoFA: 李强会见欧盟委员会主席冯德莱恩

MoFA: 李强会见欧洲理事会主席米歇尔

MoFA: 李强会见意大利总理梅洛尼

September 12, 2023

A spot of bother

China-UK relations just took a major hit at a critical moment. On Sunday, Premier Li Qiang met with UK Prime Minister Rishi Sunak on the sidelines of the G20 Summit in New Delhi. Bummer alert: Their meeting was marred by…unpleasantness. Over the weekend, London’s Metropolitan Police confirmed the ar…

China-UK relations just took a major hit at a critical moment.
On Sunday, Premier Li Qiang met with UK Prime Minister Rishi Sunak on the sidelines of the G20 Summit in New Delhi.
Bummer alert: Their meeting was marred by…unpleasantness.
Over the weekend, London's Metropolitan Police confirmed the ar...

sources

Gov.uk: PM statement on the G20 Summit: 11 September 2023

MoFA: 李强会见英国首相苏纳克

Reuters: PM Sunak raises concern over interference in UK democracy with China's Li

September 12, 2023

Hang on, help is on its way

New economic support measures may be in the pipeline. That’s according to Li Daokui, a well-respected economist and former central bank (PBoC) advisor, in an interview on CNBC published on Friday. Li said that “there are many, many meetings, discussions, deliberations” among policymakers outside the…

New economic support measures may be in the pipeline.
That’s according to Li Daokui, a well-respected economist and former central bank (PBoC) advisor, in an interview on CNBC published on Friday.
Li said that “there are many, many meetings, discussions, deliberations” among policymakers outside the...

sources

CNBC: China’s property market is going in ‘two directions,’ says ex-central bank advis

WSJ: Xi’s Tight Control Hampers Stronger Response to China’s Slowdown

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