string(13) "markets-macro"

Macro

September 2, 2023

Reducing the RISC of foreign interference

The push to reduce reliance on foreign-owned chip architectures continues to pick up steam. On Thursday, the China Electronics Standardization Association (CESA) officially established a new work committee dedicated to building out China’s RISC-V ecosystem, dubbed RVEI. Why it matters: CESA is a n… Username Password Remember Me Forgot Password

The push to reduce reliance on foreign-owned chip architectures continues to pick up steam.
On Thursday, the China Electronics Standardization Association (CESA) officially established a new work committee dedicated to building out China's RISC-V ecosystem, dubbed RVEI.
Why it matters: CESA is a n...

sources

CESA: 中国电子工业标准化技术协会RISC-V工作委员会成立大会在京隆重召开

September 1, 2023

Down we go again

Beijing is offering even more help to the beleaguered property sector. On Thursday, the central bank (PBoC) and financial regulator (NFRA) lowered minimum down payments for first- and second-home buyers to 20% and 30%, respectively. ICYDK: In most second-tier cities, the minimum down payment ratio i…

Beijing is offering even more help to the beleaguered property sector.
On Thursday, the central bank (PBoC) and financial regulator (NFRA) lowered minimum down payments for first- and second-home buyers to 20% and 30%, respectively.
ICYDK: In most second-tier cities, the minimum down payment ratio i...

sources

PBoC: 中国人民银行国家金融监督管理总局关于调整优化差别化住房信贷政策的通知

Caixin: 两部委发文下调个人购房首付比例和二套房贷利率下限

September 1, 2023

Too much of a good thing

China’s solar panel producers are increasing capacity at a spectacular rate. And it’s putting intense pressure on their profits. Global solar photovoltaic (PV) manufacturing capacity jumped over 70% last year, of which China was responsible for 95% of new capacity. The International Energy Agency…

China's solar panel producers are increasing capacity at a spectacular rate.

And it's putting intense pressure on their profits.

Global solar photovoltaic (PV) manufacturing capacity jumped over 70% last year, of which China was responsible for 95% of new capacity.

The International Energy Agency...

sources

Bloomberg: China’s Solar Companies Face Margin Squeeze Despite Profit Jump

IEA: Solar PV manufacturing capacity by component in China, 2021-2024

September 1, 2023

Non-state, no problem

Beijing’s financial heavyweights are throwing their support behind the private sector. On Wednesday, the governor of the central bank (PBoC), Pan Gongsheng, laid out how the PBoC will support private businesses. He made his comments alongside the securities regulator (CSRC) and the financial regulat…

Beijing's financial heavyweights are throwing their support behind the private sector.
On Wednesday, the governor of the central bank (PBoC), Pan Gongsheng, laid out how the PBoC will support private businesses.
He made his comments alongside the securities regulator (CSRC) and the financial regulat...

sources

PBoC: 金融支持民营企业发展工作推进会召开

September 1, 2023

Duly arrived

Policymakers are reducing mortgage rates. On Thursday, the central bank (PBoC) and financial regulator (NFRA) released guidelines on lowering rates on existing mortgages. Officials first floated the proposal in mid-July. Starting September 25, existing mortgage holders can apply to: Renegotiate r…

Policymakers are reducing mortgage rates.
On Thursday, the central bank (PBoC) and financial regulator (NFRA) released guidelines on lowering rates on existing mortgages.

Officials first floated the proposal in mid-July.

Starting September 25, existing mortgage holders can apply to:

Renegotiate r...

sources

PBoC: 中国人民银行国家金融监督管理总局关于降低存量首套住房贷款利率有关事项的通知

21st Century Biz: 存量房贷利率调整方案终于出炉！一文说清谁能降、降多少、如何申请

September 1, 2023

August tech and trade war roundup

To view the roundup as a PDF, click here. Welcome to another edition of Trivium’s tech and trade war roundup. In these monthly reports, we breakdown geopolitical developments shaping the economic relationship between Beijing and Washington DC. Here’s where things stand as of late August. The recen…

To view the roundup as a PDF, click here.
Welcome to another edition of Trivium’s tech and trade war roundup. In these monthly reports, we breakdown geopolitical developments shaping the economic relationship between Beijing and Washington DC.
Here’s where things stand as of late August.
The recen...

Download PDF

September 1, 2023

Brothers from another mother(land)

Beijing wants to better leverage the global Chinese diaspora. On Thursday, Xi Jinping and all six other Politburo Standing Committee members turned out for the opening of the 11th National Congress of Overseas Chinese at the Great Hall of the People in Beijing. ICYDK: This gathering of China’s prod…

Beijing wants to better leverage the global Chinese diaspora.
On Thursday, Xi Jinping and all six other Politburo Standing Committee members turned out for the opening of the 11th National Congress of Overseas Chinese at the Great Hall of the People in Beijing.
ICYDK: This gathering of China's prod...

sources

Gov.cn: 第十一次全国归侨侨眷代表大会在京开幕

September 1, 2023

Putting (a little) money back in (a few) people’s pockets

Beijing is cutting income tax in an attempt to drive up consumption. On Thursday, the State Council released a notice to increase three types of tax-exempt deductions for individual income tax. The deductions will be retrospectively applied to the beginning of this year. The details: Tax-exempt ded…

Beijing is cutting income tax in an attempt to drive up consumption.
On Thursday, the State Council released a notice to increase three types of tax-exempt deductions for individual income tax. The deductions will be retrospectively applied to the beginning of this year.
The details:

Tax-exempt ded...

sources

Gov.cn: 国务院关于提高个人所得税有关专项附加扣除标准的通知

September 1, 2023

Deeper down the spiral

The PRC is hopping mad about the US’s latest round of military aid for Taiwan. On Wednesday, the Biden administration approved military aid to Taiwan worth USD 80 million under the Foreign Military Financing (FMF) program for the first time. Here’s the kicker: FMF normally provides grants and loans …

The PRC is hopping mad about the US's latest round of military aid for Taiwan.
On Wednesday, the Biden administration approved military aid to Taiwan worth USD 80 million under the Foreign Military Financing (FMF) program for the first time.
Here’s the kicker: FMF normally provides grants and loans ...

sources

AP: China objects as US approves military aid to Taiwan under program aimed at sovereign nations

MoFA: Foreign Ministry Spokesperson Wang Wenbin’s Regular Press Conference on August 31, 2023

September 1, 2023

New cadres for the new era

The Party needs better trained cadres. That’s according to Thursday’s Politburo meeting, chaired by Xi Jinping. Rather than discussing other pressing matters – like setting a date for the Third Plenum – the Politburo reviewed two key documents on cadre training: Regulations on Cadre Education and…

The Party needs better trained cadres.

That’s according to Thursday’s Politburo meeting, chaired by Xi Jinping.

Rather than discussing other pressing matters – like setting a date for the Third Plenum – the Politburo reviewed two key documents on cadre training:

Regulations on Cadre Education and...

sources

Gov.cn: 中共中央政治局召开会议审议《干部教育培训工作条例》《全国干部教育培训规划（2023－2027年）》中共中央总书记习近平主持会议

CPC People: 中共中央印发《干部教育培训工作条例》

September 1, 2023

It’s gonna be a no from Xi, dawg

Is Xi Jinping stepping back from the world stage? On Thursday, Reuters scooped that Xi would likely skip next week’s G20 Summit in New Delhi, India. Premier Li Qiang will attend in his stead. There’s more: The foreign ministry said Li, not Xi, would attend the ASEAN and East Asia Summits in Jakarta …

Is Xi Jinping stepping back from the world stage?
On Thursday, Reuters scooped that Xi would likely skip next week’s G20 Summit in New Delhi, India. Premier Li Qiang will attend in his stead.
There's more: The foreign ministry said Li, not Xi, would attend the ASEAN and East Asia Summits in Jakarta ...

sources

Reuters: China's Xi likely to skip G20 summit in India, sources say

The Paper: 李强将出席东亚合作领导人系列会议并访问印尼

September 1, 2023

This little light of mine, I ain’t gonna let it Shein

US lawmakers are asking questions about Gen-Z’s favorite e-commerce app. On Wednesday, sixteen state attorney generals wrote SEC Chair Gary Gensler, demanding an investigation into Chinese fast-fashion giant Shein. Background: Shein has been making rapid inroads in the US market, and has alrea…

US lawmakers are asking questions about Gen-Z's favorite e-commerce app.
On Wednesday, sixteen state attorney generals wrote SEC Chair Gary Gensler, demanding an investigation into Chinese fast-fashion giant Shein.
Background: Shein has been making rapid inroads in the US market, and has alrea...

sources

Montana gov: Letter from Montana AG to Chair Gensler

WSJ: Fashion Giant Shein Raises $2 Billion but Lowers Valuation by a Third

CNN: Shein partners with Forever 21 in fast-fashion deal that will expand reach of both companies

PingWest: Shein to build a 1.8 million-square-foot distribution center in California and offer thousands of jobs

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