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Macro

September 12, 2023

Quick take | Metaverse policy goes national

We first started writing about China’s policy approach to the metaverse December 2021. Recap: In October that same year, Mark Zuckerberg declared that virtual reality is the future of the internet, Facebook changed its name to Meta, and the word “metaverse” exploded into the popular lexicon. Within… Username Password Remember Me Forgot Password

We first started writing about China's policy approach to the metaverse December 2021.
Recap: In October that same year, Mark Zuckerberg declared that virtual reality is the future of the internet, Facebook changed its name to Meta, and the word "metaverse" exploded into the popular lexicon.
Within...

sources

MIIT: 五部门关于印发《元宇宙产业创新发展三年行动计划（2023－2025年）》的通知

MIIT: 《元宇宙产业创新发展三年行动计划（2023－2025年）》解读

Wired: What Is the Metaverse, Exactly?

September 11, 2023

I’ll come from a land down under

It’s a bright new day for China-Australia relations. On Thursday, Premier Li Qiang met with Australian Prime Minister Anthony Albanese on the sidelines of the East Asia Summit in Indonesia. The two pledged to restart key dialogues. ICYDK: Sino-Australian ties are emerging from an extended dark age. …

It’s a bright new day for China-Australia relations.
On Thursday, Premier Li Qiang met with Australian Prime Minister Anthony Albanese on the sidelines of the East Asia Summit in Indonesia. The two pledged to restart key dialogues.
ICYDK: Sino-Australian ties are emerging from an extended dark age.
...

sources

CCTV: [视频]李强会见澳大利亚总理

Reuters: Australian PM to visit China soon as both sides hail progress

September 11, 2023

Come together, right now (so says Li)

China’s diplomacy has a new face, but the message is unchanged. On Saturday, Premier Li Qiang addressed the G20 Summit in New Delhi, India. ICYMI: Li is attending the meeting in Xi Jinping’s stead, who opted to skip both the G20 and the ASEAN Summit. Li used the occasion to promote Xi Jinping’s thre…

China's diplomacy has a new face, but the message is unchanged.
On Saturday, Premier Li Qiang addressed the G20 Summit in New Delhi, India.
ICYMI: Li is attending the meeting in Xi Jinping’s stead, who opted to skip both the G20 and the ASEAN Summit.
Li used the occasion to promote Xi Jinping’s thre...

sources

Xinhua: Full Text: Remarks by Chinese Premier Li Qiang at Session I of the 18th G20 Summit

September 11, 2023

Covert-Li

China is keeping mum about Premier Li Qiang’s meeting with US President Joe Biden. What we know: Over the weekend, Biden met with Li on the sidelines of the G20 Summit in India. The meeting between the pair is highest-level face-to-face interaction between the US and China since Biden met with Xi J…

China is keeping mum about Premier Li Qiang’s meeting with US President Joe Biden.
What we know: Over the weekend, Biden met with Li on the sidelines of the G20 Summit in India.

The meeting between the pair is highest-level face-to-face interaction between the US and China since Biden met with Xi J...

sources

The Paper: 外交部介绍李强总理在G20峰会上与拜登交流情况

White House: Remarks by President Biden in a Press Conference

September 11, 2023

All aboard China’s state-owned tech train

Xi Jinping wants more resources funneled to state-owned enterprises (SOEs) to develop more homegrown technologies. Xi said as much on Thursday at a symposium on promoting revitalization of China’s northeastern rustbelt, attended by provincial leaders from Liaoning, Jilin, Heilongjiang, and Inner Mon…

Xi Jinping wants more resources funneled to state-owned enterprises (SOEs) to develop more homegrown technologies.
Xi said as much on Thursday at a symposium on promoting revitalization of China's northeastern rustbelt, attended by provincial leaders from Liaoning, Jilin, Heilongjiang, and Inner Mon...

sources

Gov.cn: 习近平主持召开新时代推动东北全面振兴座谈会强调：牢牢把握东北的重要使命奋力谱写东北全面振兴新篇章

September 11, 2023

Under pressure

Xi Jinping’s two-day trip to Heilongjiang had one overriding theme: Security. From Wednesday to Friday, Xi and a crew of central leaders toured the following places in northeastern China’s Heilongjiang province: A forest conservation site Local farms damaged by recent floods Harbin Engineering Univ…

Xi Jinping's two-day trip to Heilongjiang had one overriding theme: Security.
From Wednesday to Friday, Xi and a crew of central leaders toured the following places in northeastern China's Heilongjiang province:

A forest conservation site
Local farms damaged by recent floods
Harbin Engineering Univ...

sources

Gov.cn: 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 11, 2023

How do you solve a problem like urea?

Beijing has asked major fertilizer producers to reduce urea exports, Bloomberg reporters scooped on Thursday. Some have stopped signing new export deals, while at least one producer has announced it will curb shipments to secure domestic supplies and maintain price stability. Following up on Frida…

Beijing has asked major fertilizer producers to reduce urea exports, Bloomberg reporters scooped on Thursday.

Some have stopped signing new export deals, while at least one producer has announced it will curb shipments to secure domestic supplies and maintain price stability.

Following up on Frida...

sources

Bloomberg: China Asks Fertilizer Producers to Suspend Urea Shipments

Reuters: China slows fertiliser exports, raising industry concerns in India

Yonhap News Agency YNA: No official export ban on urea by China in effect: finance ministry

The Paper: 尿素出口大增，淡季库存下降价格暴涨：行业协会呼吁切忌炒作

September 11, 2023

Cold comfort

China’s stats bureau released inflation data for August on Saturday. The headlines: The consumer price index (CPI) rose 0.1% y/y in August, up from a 0.3% y/y decline in July. The producer price index (PPI) fell 3.0% y/y in August, compared with a 4.4% decline in July. ICYDK: Producer and consumer…

China’s stats bureau released inflation data for August on Saturday.
The headlines:

The consumer price index (CPI) rose 0.1% y/y in August, up from a 0.3% y/y decline in July.
The producer price index (PPI) fell 3.0% y/y in August, compared with a 4.4% decline in July.

ICYDK: Producer and consumer...

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NBS: 2023年8月份工业生产者出厂价格同比下降3.0%　环比上涨0.2%

NBS: 2023年8月份居民消费价格同比上涨0.1%　环比上涨0.3%

September 11, 2023

Derive and prosper

Beijing wants to build a modern futures market with Chinese characteristics. Fang Xinghai, vice chairman of the securities regulator (CSRC), made that clear in a (very long) speech at the China Futures Association last week. Some context: China’s nascent futures and derivatives market has grown rapi…

Beijing wants to build a modern futures market with Chinese characteristics.
Fang Xinghai, vice chairman of the securities regulator (CSRC), made that clear in a (very long) speech at the China Futures Association last week.
Some context: China’s nascent futures and derivatives market has grown rapi...

sources

CSRC: 坚持稳中求进提升服务能力坚定走好中国特色现代期货市场发展道路——方星海副主席在中国期货业协会第六次会员大会上的讲话

September 11, 2023

Keep pumping it up

Regulators continue to roll out support for the flagging A-share market. On Sunday, the finance regulator (NFRA) reduced capital requirements for insurance companies, including risk weightings on their holdings of certain blue-chip and tech stocks. The NFRA said the change will: “Guide insurance co…

Regulators continue to roll out support for the flagging A-share market.
On Sunday, the finance regulator (NFRA) reduced capital requirements for insurance companies, including risk weightings on their holdings of certain blue-chip and tech stocks.
The NFRA said the change will:

“Guide insurance co...

sources

NFRA: 国家金融监督管理总局发布《关于优化保险公司偿付能力监管标准的通知》

September 11, 2023

The price of freedom

Local authorities are finally starting to remove price controls on new homes to help revive demand. Guangzhou seems to be the first top-tier city to make the break. Caixin reported on Friday that the city will allow developers to set their own prices and adjust them as they see fit. Local authorit…

Local authorities are finally starting to remove price controls on new homes to help revive demand.
Guangzhou seems to be the first top-tier city to make the break.
Caixin reported on Friday that the city will allow developers to set their own prices and adjust them as they see fit.

Local authorit...

sources

Caixin: 广州悄然取消楼市“限价令” 业内人士称房价“可涨可跌”

September 9, 2023

Doubling down on data at ASEAN

Will Singapore become China’s testing ground for cross-border data trading? On Wednesday, China and ASEAN released a joint statement on future cooperation plans in the Indo-Pacific. The statement followed the ASEAN-China summit held in Jakarta this week. The agreement pledged to increase cooperati…

Will Singapore become China's testing ground for cross-border data trading?
On Wednesday, China and ASEAN released a joint statement on future cooperation plans in the Indo-Pacific.

The statement followed the ASEAN-China summit held in Jakarta this week.

The agreement pledged to increase cooperati...

sources

ASEAN: ASEAN-China Joint Statement on Mutually Beneficial Cooperation on the ASEAN Outlook on the Indo-Pacific

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