string(13) "markets-macro"

Macro

September 6, 2023

On some BSE

Big changes are coming to China’s smallest stock exchange. On Friday, the securities regulator (CSRC) released a 19-point guideline on reforming the Beijing Stock Exchange (BSE). Some context: The BSE opened for trading in November 2021 and targets innovative small and medium-sized enterprises (SMEs… Username Password Remember Me Forgot Password

Big changes are coming to China’s smallest stock exchange.
On Friday, the securities regulator (CSRC) released a 19-point guideline on reforming the Beijing Stock Exchange (BSE).
Some context: The BSE opened for trading in November 2021 and targets innovative small and medium-sized enterprises (SMEs...

sources

CSRC: 证监会发布《关于高质量建设北京证券交易所的意见》

CSRC: 中国证监会关于高质量建设北京证券交易所的意见

Reuters: BEIJING STOCK EXCHANGE 50 INDEX

Shanghai Stock Exchange: 上海证券交易所

Shenzhen Stock Exchange: 市场数据

September 6, 2023

Put your BAC into it

On September 1, Xu Hongcai was appointed director of the legislature’s (NPCSC) Budgetary Affairs Commission (BAC). The appointment gives Xu ministerial rank. Background on BAC: The BAC helps the legislature supervise the government’s budget planning, adjustment, and execution. The BAC has been gro…

On September 1, Xu Hongcai was appointed director of the legislature's (NPCSC) Budgetary Affairs Commission (BAC).

The appointment gives Xu ministerial rank.

Background on BAC: The BAC helps the legislature supervise the government's budget planning, adjustment, and execution.
The BAC has been gro...

sources

NPC: 全国人民代表大会常务委员会任命名单

NPC: 全国人民代表大会常务委员会任免名单

September 6, 2023

Do it by the book

Beijing needs officials to get better at governing. On Tuesday, the State Council released a three-year action plan to improve the quality of administrative law enforcement. Better late than never: The plan forms part of efforts to implement the Party Central Committee and State Council’s five-year …

Beijing needs officials to get better at governing.
On Tuesday, the State Council released a three-year action plan to improve the quality of administrative law enforcement.
Better late than never: The plan forms part of efforts to implement the Party Central Committee and State Council's five-year ...

sources

Gov.cn: 国务院办公厅关于印发《提升行政执法质量三年行动计划（2023—2025年）》的通知

September 6, 2023

Yi Qi Xue Xi

Xi Jinping wants grassroots officials to get with the program. On Tuesday, Cai Qi – the Party’s fifth-ranked official – announced the next stage of the Xi Jinping Thought study campaign, launched in April. The first stage of the campaign was from April through August and targeted: Central Par…

Xi Jinping wants grassroots officials to get with the program.
On Tuesday, Cai Qi – the Party’s fifth-ranked official – announced the next stage of the Xi Jinping Thought study campaign, launched in April.
The first stage of the campaign was from April through August and targeted:

Central Par...

sources

CPC People: 蔡奇在学习贯彻习近平新时代中国特色社会主义思想主题教育第一批总结暨第二批部署会议上强调总结好第一批主题教育有效做法和成功经验把第二批主题教育科学谋划好精心组织好

September 6, 2023

Governing the ungovernable

A governance journey of 1,000 miles begins with a single step. On Friday, the cyberspace administration (CAC) released the second list of “deep synthesis” algorithms that have received an official license to operate in China. 110 licenses were issued in this batch. The list includes Baidu’s ErnieB…

A governance journey of 1,000 miles begins with a single step.
On Friday, the cyberspace administration (CAC) released the second list of "deep synthesis" algorithms that have received an official license to operate in China.

110 licenses were issued in this batch.
The list includes Baidu’s ErnieB...

sources

CAC: 国家互联网信息办公室关于发布第二批深度合成服务算法备案信息的公告

September 6, 2023

More tax breaks for the big three

On Monday, the Ministry of Finance (MoF) and three other regulators jointly announced extended tax incentives for tech incubators, university science parks, and maker spaces. Specifically, Monday’s announcement stipulates that these bodies are exempt from real estate and land tax. Also, income earn…

On Monday, the Ministry of Finance (MoF) and three other regulators jointly announced extended tax incentives for tech incubators, university science parks, and maker spaces.
Specifically, Monday’s announcement stipulates that these bodies are exempt from real estate and land tax.

Also, income earn...

sources

Ministry of Finance: 关于继续实施科技企业孵化器、大学科技园和众创空间有关税收政策的公告

Ministry of Finance: 科企孵化器、大学科技园和众创空间将享三项税收优惠

Ministry of Finance: 国务院办公厅关于发展众创空间推进大众创新创业的指导意见

September 6, 2023

If it is fixed do break it

Didi is offering an olive branch to drivers and regulators on fixed-price fares. Background: Normally, ride-hailing fares are metered by time or distance, so traffic jams or construction detours means a higher bill. But fixed-price fares use pre-calculated time and distances that don’t factor in …

Didi is offering an olive branch to drivers and regulators on fixed-price fares.
Background: Normally, ride-hailing fares are metered by time or distance, so traffic jams or construction detours means a higher bill.

But fixed-price fares use pre-calculated time and distances that don't factor in ...

sources

WeChat: 重磅！滴滴特惠订单变为实时计价，一口价即将成为历史

The Paper: 网约车司机，困在“一口价”里

The Paper: 这些城市，为何要取消网约车“一口价”

September 6, 2023

A wholesale misunderstanding

China’s central bank (PBoC) is eyeing the use of China’s digital currency (e-CNY) for the business-to-business payment market. That’s what we gleaned from a speech given on Sunday by Mu Changchun, the man in charge of e-CNY development. Some context: For years, the PBoC has been stressing that the…

China's central bank (PBoC) is eyeing the use of China's digital currency (e-CNY) for the business-to-business payment market.

That’s what we gleaned from a speech given on Sunday by Mu Changchun, the man in charge of e-CNY development.

Some context: For years, the PBoC has been stressing that the...

sources

Sina: 穆长春：央行数字货币的发行保证了储户在无现金社会提现的权利

September 5, 2023

Wrestling with VAT

Beijing wants to simplify value-added tax (VAT). On Friday, the legislature (NPCSC) released the second draft of the Value-Added Tax Law for public comment. VAT is hugely important: VAT accounts for roughly 30% of total government tax revenue (The Paper). It’s also super complicated: There are thr…

Beijing wants to simplify value-added tax (VAT).

On Friday, the legislature (NPCSC) released the second draft of the Value-Added Tax Law for public comment.

VAT is hugely important: VAT accounts for roughly 30% of total government tax revenue (The Paper).
It's also super complicated: There are thr...

sources

NPC: 增值税法（草案二次审议稿）征求意见

The Paper: 全国第一大税种立法细节披露，未来走向如何

September 5, 2023

Here to serve

Beijing wants to use technology to improve the business environment. On Monday, the State Council’s general office released guidelines for improving government services through use of the government’s national integrated government services platform. The State Council wants to makes life easier by: …

Beijing wants to use technology to improve the business environment.
On Monday, the State Council’s general office released guidelines for improving government services through use of the government's national integrated government services platform.
The State Council wants to makes life easier by:
...

sources

National Government Services Platform: 国家政务服务平台

Gov.cn: 国务院办公厅关于依托全国一体化政务服务平台建立政务服务效能提升常态化工作机制的意见

September 5, 2023

Bye bye BRI

Italy is heading for a breakup with China’s Belt and Road Initiative (BRI) – but everybody wants to stay friends. That’s the takeaway from Monday meetings in Beijing between Italy’s Foreign Minister (and deputy PM) Antonio Tajani and China’s top diplomat Wang Yi and Minister of Commerce Wang Wentao….

Italy is heading for a breakup with China's Belt and Road Initiative (BRI) – but everybody wants to stay friends.
That’s the takeaway from Monday meetings in Beijing between Italy's Foreign Minister (and deputy PM) Antonio Tajani and China's top diplomat Wang Yi and Minister of Commerce Wang Wentao....

sources

Yicai: 商务部部长王文涛会见意大利副总理兼外交部长塔亚尼

People's Daily: 王毅同意大利副总理兼外长塔亚尼举行会谈

Reuters: Italy unlikely to renew China deal, but needs time, official says

Reuters: Italy did not get expected results from China Belt and Road deal, foreign minister says

SCMP: China-Italy ties: as Rome looks for belt and road exit it’s expected to be ‘punished twice’ without reaping benefits

September 5, 2023

Nemo me impune lacessit

China’s taking more steps to protect its economic interests from foreign threats. On Friday, the legislature (NPCSC) adopted the Foreign Sovereign Immunity Law (FSIL). The final version is mostly unchanged from its first draft and goes into effect January 1, 2024. The law gets rid of absolute stat…

China’s taking more steps to protect its economic interests from foreign threats.
On Friday, the legislature (NPCSC) adopted the Foreign Sovereign Immunity Law (FSIL).

The final version is mostly unchanged from its first draft and goes into effect January 1, 2024.

The law gets rid of absolute stat...

sources

MoFA: 中华人民共和国外国国家豁免法

China Law Translate: Foreign State Immunity Law of the People’s Republic of China

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