string(13) "markets-macro"

Macro

September 8, 2023

Homeowners rejoice!

China’s five biggest commercial banks will start cutting interest rates on existing first-home loans from September 25, giving consumers more money to spend. On Thursday, the banks – which account for about 60% of all mortgages – outlined how they’ll do it, after the central bank (PBoC) issued guid… Username Password Remember Me … Read More »

China’s five biggest commercial banks will start cutting interest rates on existing first-home loans from September 25, giving consumers more money to spend.
On Thursday, the banks – which account for about 60% of all mortgages – outlined how they'll do it, after the central bank (PBoC) issued guid...

sources

ICBC: 中国工商银行关于存量首套个人住房贷款利率调整的公告

Bank of China: 存量首套住房贷款利率调整的公告(2023年9月25日起)

Agricultural Bank of China: 中国农业银行关于降低存量首套住房贷款利率有关操作事项的公告

China Construction Bank: 中国建设银行关于明确存量首套住房贷款利率调整有关具体事项的公告

Bank of Communications: 交通银行关于降低存量首套住房贷款利率相关事项的公告

September 8, 2023

No innovation without IP representation

On Tuesday, the industrial ministry (MIIT) and the copyright office (CNIPA) jointly released a four-year action plan to support intellectual property development in industrial innovation. The plan focuses on incentivizing researchers to come up with new, high-value IP, and extract more value from …

On Tuesday, the industrial ministry (MIIT) and the copyright office (CNIPA) jointly released a four-year action plan to support intellectual property development in industrial innovation.

The plan focuses on incentivizing researchers to come up with new, high-value IP, and extract more value from ...

sources

MIIT: 两部门关于印发《知识产权助力产业创新发展行动方案（2023─2027年）》的通知

September 8, 2023

Tax breaks for made-in-China R&D equipment

On August 28, the Ministry of Finance (MoF) and two other regulators announced a Value-Added Tax (VAT) refund policy for R&D centers. VAT is one of China’s major indirect taxes, applied to goods and services. The deets: MoF’s policy entitles R&D centers to full VAT refunds when…

On August 28, the Ministry of Finance (MoF) and two other regulators announced a Value-Added Tax (VAT) refund policy for R&D centers.

VAT is one of China's major indirect taxes, applied to goods and services.

The deets: MoF's policy entitles R&D centers to full VAT refunds when...

sources

Gov.cn: 关于研发机构采购设备增值税政策的公告

China Briefing: Value Added Tax in China

September 8, 2023

iBan on iPhones

Is Apple waving bye-bye to Zhongnanhai? On Wednesday, SCMP sources reported that government ministries involved with investment, trade, or international affairs will ban the use of iPhones at or for work. The decision expands a previous ban – which was never publicly confirmed – already …

The decision expands a previous ban – which was never publicly confirmed – already ...

sources

SCMP: China orders government workers to stop using iPhones amid heightened tensions with US

Bloomberg: China Seeks to Broaden iPhone Ban to State Firms, Agencies

Bloomberg: China Said to Exclude Apple From Procurement List

September 8, 2023

A plan with no plan

Beijing isn’t sure what to do about sluggish industrial growth. On Tuesday, the industry regulator (MIIT) issued a two-year plan to stabilize the growth of the electronics manufacturing sector. Some context: The sector is a big category, including semiconductors, consumer electronics, …

Beijing isn’t sure what to do about sluggish industrial growth.
On Tuesday, the industry regulator (MIIT) issued a two-year plan to stabilize the growth of the electronics manufacturing sector.
Some context: The sector is a big category, including semiconductors, consumer electronics, ...

sources

MIIT: 关于印发电子信息制造业2023—2024年稳增长行动方案的通知

MIIT: 如何推动机械、汽车、电力装备、电子信息制造业等四行业稳增长？这场发布会值得关注！

MIIT: 2020年电子信息制造业运行情况

MIIT: 2021年电子信息制造业运行情况

MIIT: 2022年电子信息制造业运行情况

MIIT: 2023年1－7月份电子信息制造业运行情况

September 8, 2023

CNKI and the data doghouse

CNKI, China’s largest academic publishing platform, is still paying for its misconduct. On Wednesday, the cyberspace administration (CAC) announced it will fine CNKI RMB 50 million for personal information protection violations. RMB 50 million is the max fine allowed under the Personal Information …

CNKI, China's largest academic publishing platform, is still paying for its misconduct.
On Wednesday, the cyberspace administration (CAC) announced it will fine CNKI RMB 50 million for personal information protection violations.

RMB 50 million is the max fine allowed under the Personal Information ...

sources

CAC: 国家互联网信息办公室对知网（CNKI）依法作出网络安全审查相关行政处罚

September 7, 2023

Trust is a must

Premier Li Qiang is making a play for hearts and minds in Southeast Asia. On Wednesday, he addressed the 26th ASEAN-China Summit in Jakarta, Indonesia. Li’s message: China is a partner you can trust (People.cn): “Sincerity is the key to opening the heart, trust is the bridge that connects the soul….

“Sincerity is the key to opening the heart, trust is the bridge that connects the soul....

sources

People.cn: 在第26次中国—东盟领导人会议上的讲话

September 7, 2023

Less seedy seeds

The garbage in, garbage out principle doesn’t just apply to computing – it also applies to agriculture. On Wednesday, the market regulator (SAMR) and ag ministry (MARA) issued guidelines for implementing China’s first national crop seed certification scheme. Stifle that yawn: Seeds are an increasing…

The garbage in, garbage out principle doesn't just apply to computing – it also applies to agriculture.
On Wednesday, the market regulator (SAMR) and ag ministry (MARA) issued guidelines for implementing China's first national crop seed certification scheme.
Stifle that yawn: Seeds are an increasing...

sources

Gov.cn: 市场监管总局农业农村部关于开展农作物种子认证工作的实施意见

September 7, 2023

In the doldrums

China’s General Administration of Customs released trade data for August on Thursday. The headlines: Exports fell 8.8% y/y in dollar terms in August, compared with a 14.5% fall in July. Imports dropped by 7.3% y/y last month, versus a 12.4% fall in July. The trade surplus was USD 68 billion in Augu…

China’s General Administration of Customs released trade data for August on Thursday.
The headlines:

Exports fell 8.8% y/y in dollar terms in August, compared with a 14.5% fall in July.
Imports dropped by 7.3% y/y last month, versus a 12.4% fall in July.
The trade surplus was USD 68 billion in Augu...

sources

Bloomberg: China’s Export Slump Eases as Economy Searches for Stability

SCMP: China trade: exports tumble for fourth consecutive month in August, headwinds to remain despite marginal gain

September 7, 2023

I will see you in court

Chinese companies will find it easier to bring foreign companies to court in China. On Friday, the legislature (NPCSC) adopted the latest amendment to the Civil Procedure Law. It will go into effect next year. The biggest change: The latest amendment expands the jurisdiction of Chinese courts to …

Chinese companies will find it easier to bring foreign companies to court in China.
On Friday, the legislature (NPCSC) adopted the latest amendment to the Civil Procedure Law.

It will go into effect next year.

The biggest change: The latest amendment expands the jurisdiction of Chinese courts to ...

sources

Gov.cn: 全国人民代表大会常务委员会关于修改《中华人民共和国民事诉讼法》的决定

Gov.cn: 关于《中华人民共和国民事诉讼法（修正草案）》的说明

September 7, 2023

The past is in the past

Property purchase restrictions in China need to be lifted ASAP. That’s according to a commentary published Wednesday in the Securities Times, a state-affiliated newspaper. Refresher: Over the past few years, local governments have imposed numerous rules on housing transactions – including limits o…

Property purchase restrictions in China need to be lifted ASAP.

That’s according to a commentary published Wednesday in the Securities Times, a state-affiliated newspaper.

Refresher: Over the past few years, local governments have imposed numerous rules on housing transactions – including limits o...

sources

Securities Times: 因城施策取消非必要限购限售支持楼市复苏

The Paper: 上半年超20城放松住房限购限售，报告：未来核心城市政策有望适度调整

September 7, 2023

Do we smell a genuine reform?

Regulators are apparently clamping down on shady commodities trading practices. That’s according to Bloomberg reporting that Beijing is considering reforms to bar state-owned enterprises (SOEs) from: Trading commodities outside their scope of business Trading commodities that aren’t tied to actual…

Regulators are apparently clamping down on shady commodities trading practices.
That's according to Bloomberg reporting that Beijing is considering reforms to bar state-owned enterprises (SOEs) from:

Trading commodities outside their scope of business
Trading commodities that aren't tied to actual...

sources

Bloomberg: China Mulls Tougher Rules on Commodity Trading For Key Firms

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