string(13) "markets-macro"

Macro

August 31, 2023

Getting the jump on RedCap

The Internet of Things (IoT) is about to get bigger. On Tuesday, China’s industrial and telecoms regulator (MIIT) released a draft policy to promote the development of 5G Reduced Capability (RedCap) networks. Background: Current 5G networks are often designed for high-performance scenarios – making… Username Password Remember Me Forgot Password

The Internet of Things (IoT) is about to get bigger.
On Tuesday, China's industrial and telecoms regulator (MIIT) released a draft policy to promote the development of 5G Reduced Capability (RedCap) networks.
Background: Current 5G networks are often designed for high-performance scenarios - making...

sources

MIIT: 关于推进5G轻量化（RedCap）技术演进和应用创新发展的通知（征求意见稿）

August 30, 2023

Ticket to nowhere

Big-ticket items are acting as a serious drag on retail sales. Amidst the depressing econ data released earlier this month, this is an especially concerning trend. The details: Sales of big-ticket items fell 2.3% y/y in July. Digging into the details, July sales of specific goods saw: Automobiles…

Big-ticket items are acting as a serious drag on retail sales.

Amidst the depressing econ data released earlier this month, this is an especially concerning trend.

The details: Sales of big-ticket items fell 2.3% y/y in July. Digging into the details, July sales of specific goods saw:

Automobiles...

sources

Stats.gov.cn: 2023年7月份社会消费品零售总额增长2.5% - 国家统计局

August 30, 2023

Zinc or swim

We’ve got one more industrial growth plan for you. On August 21, Beijing dropped its growth plan for the nonferrous metals industry. ICYDK: Nonferrous metals include copper, aluminum, nickel, and zinc (among others) – all critical inputs for China’s green transition. The big picture: Beijing wants l…

We've got one more industrial growth plan for you.
On August 21, Beijing dropped its growth plan for the nonferrous metals industry.
ICYDK: Nonferrous metals include copper, aluminum, nickel, and zinc (among others) – all critical inputs for China's green transition.
The big picture: Beijing wants l...

sources

Gov.cn: 工业和信息化部国家发展改革委财政部自然资源部商务部海关总署国家粮食和储备局关于印发《有色金属行业稳增长工作方案》的通知

August 30, 2023

Trimming the Savings

China’s biggest lenders may cut deposit rates, again. On Tuesday, Bloomberg reported that regulators will allow several state-owned commercial banks to lower deposit rates by 5 to 20 bps. The banks include Industrial and Commercial Bank of China (ICBC) and China Construction Bank (CBC). Why cut no…

China’s biggest lenders may cut deposit rates, again.
On Tuesday, Bloomberg reported that regulators will allow several state-owned commercial banks to lower deposit rates by 5 to 20 bps.

The banks include Industrial and Commercial Bank of China (ICBC) and China Construction Bank (CBC).

Why cut no...

sources

Bloomberg: China Mega Banks Weigh Further Deposit Rate Cuts to Boost Growth

Xinhua: 告别“3时代” 六大行下调存款利率 100万存5年少收7500元利息

August 30, 2023

Gimme a (tax) break

Foreign companies in China just got some good news. On Tuesday, the Ministry of Finance and State Taxation Administration announced the extension of preferential individual income tax policies for foreign employees to the end of 2027. They were scheduled to expire at the end of 2023. Foreign empl…

Foreign companies in China just got some good news.
On Tuesday, the Ministry of Finance and State Taxation Administration announced the extension of preferential individual income tax policies for foreign employees to the end of 2027.

They were scheduled to expire at the end of 2023.

Foreign empl...

sources

MoF: 关于延续实施外籍个人有关津补贴个人所得税政策的公告

Amcham China: IIT Policy Update and Advocacy Success

August 30, 2023

I would do anything for trade (but I won’t do that)

Washington is ready to cooperate with Beijing on commerce. Just not in the areas that matter most to China. On Tuesday, US Commerce Secretary Gina Raimondo met with: Premier Li Qiang Vice Premier He Lifeng Minister of Culture and Tourism Hu Heping Per the official readout, Li made a pitch for co…

Washington is ready to cooperate with Beijing on commerce.

Just not in the areas that matter most to China.

On Tuesday, US Commerce Secretary Gina Raimondo met with:

Premier Li Qiang
Vice Premier He Lifeng
Minister of Culture and Tourism Hu Heping

Per the official readout, Li made a pitch for co...

sources

Xinhua: Chinese premier meets U.S. commerce secretary, calling for enhanced cooperation

US Commerce Department: Readout of Secretary Raimondo’s Meeting with Premier of the People’s Republic of China Li Qiang

US Commerce Department: Readout of Secretary Raimondo’s Meeting with Vice Premier of the People’s Republic of China He Lifeng

US Commerce Department: Readout of Secretary Raimondo's Meeting with Minister of Culture and Tourism of the People’s Republic of China Hu Heping

New York Times: U.S. Does Not Want to ‘Decouple’ From China, Commerce Chief Says

AP: US commerce secretary rejects Chinese appeal to ease export controls

August 30, 2023

Securing Africa

Beijing is pitching Xi Jinping’s alternative vision for global security to Africa. The third China-Africa Peace and Security Forum, which kicked off Tuesday in Beijing, boasts the theme “Implementing the Global Security Initiative (GSI), and strengthening China-Africa solidarity and cooperation.” O…

Beijing is pitching Xi Jinping's alternative vision for global security to Africa.
The third China-Africa Peace and Security Forum, which kicked off Tuesday in Beijing, boasts the theme "Implementing the Global Security Initiative (GSI), and strengthening China-Africa solidarity and cooperation."

O...

sources

People's Daily: 第三届中非和平安全论坛在京举行

Global Times: China-Africa security forum injects positive energy into global peace

August 30, 2023

A somewhat higher purpose

More infrastructure spending is on the way. But not too much more. On Monday, Minister of Finance Liu Kun gave a regular report to the legislature on fiscal policy. Liu said that local governments will: Aim to issue the remaining annual special purpose bond (SPB) quota by the end of September Str…

More infrastructure spending is on the way.

But not too much more.

On Monday, Minister of Finance Liu Kun gave a regular report to the legislature on fiscal policy.
Liu said that local governments will:

Aim to issue the remaining annual special purpose bond (SPB) quota by the end of September
Str...

sources

Xinhua: 我国将加力提效实施好积极的财政政策

August 30, 2023

AI to the highest degree

China’s gearing up to restrict the use of AI to write academic dissertations. On Monday, a draft of the new Academic Degree Law was submitted to the National People’s Congress for deliberation. The text of the latest draft is not yet available, but multiple domestic media outlets have reported on …

China's gearing up to restrict the use of AI to write academic dissertations.
On Monday, a draft of the new Academic Degree Law was submitted to the National People's Congress for deliberation.

The text of the latest draft is not yet available, but multiple domestic media outlets have reported on ...

sources

China News: 我国拟立学位法：利用人工智能代写学位论文等行为或被撤销学位证书

NPC Observer: Academic Degrees Regulations of the People’s Republic of China

August 30, 2023

Beijing says yes to foreign-backed R&D

On Friday, Beijing released measures on attracting foreign-funded R&D centers to the city. Some context: Back in January, the State Council released national-level “Measures to Further Encourage Foreign Investment to Establish R&D Centers.” Beijing’s new measures are the local version of t…

On Friday, Beijing released measures on attracting foreign-funded R&D centers to the city.
Some context: Back in January, the State Council released national-level “Measures to Further Encourage Foreign Investment to Establish R&D Centers.”
Beijing’s new measures are the local version of t...

sources

Beijing.gov: 北京市人民政府办公厅印发《北京市关于进一步支持外资研发中心发展的若干措施》的通知

August 30, 2023

Waiting for the important (data) puzzle piece

The missing pieces of the data security regime are slowly getting filled in. Last Friday, China’s cybersecurity standards body (TC260) released draft standards detailing security requirements for handling so-called “important data.” Recap: China’s data security regime revolves around a tiered classi…

The missing pieces of the data security regime are slowly getting filled in.
Last Friday, China’s cybersecurity standards body (TC260) released draft standards detailing security requirements for handling so-called "important data."
Recap: China’s data security regime revolves around a tiered classi...

sources

TC260: 关于国家标准《信息安全技术重要数据处理安全要求》征求意见稿征求意见的通知

August 29, 2023

The running (away) of the bulls

Another day, another measure to boost stock prices. On Monday, Bloomberg scooped that the Shanghai and Shenzhen stock exchanges told large mutual funds to buy more domestic equities than they sell. ICYMI: This isn’t the first time this month Beijing has made similar entreaties. In an August 18 inte…

Another day, another measure to boost stock prices.
On Monday, Bloomberg scooped that the Shanghai and Shenzhen stock exchanges told large mutual funds to buy more domestic equities than they sell.
ICYMI: This isn’t the first time this month Beijing has made similar entreaties.

In an August 18 inte...

sources

Bloomberg: China Asks Some Funds to Avoid Net Equity Sales to Boost Market

HKEX: 每日数据

Pages: 1234567891011121314151617181920212223242526272829303132333435363738394041424344454647484950515253545556575859606162636465666768697071727374757677787980818283848586878889909192939495969798991001011021031041051061071081091101111121131141151161171181191201211221231241251261271281291301311321331341351361371381391401411421431441451461471481491501511521531541551561571581591601611621631641651661671681691701711721731741751761771781791801811821831841851861871881891901911921931941951961971981992002012022032042052062072082092102112122132142152162172182192202212222232242252262272282292302312322332342352362372382392402412422432442452462472482492502512522532542552562572582592602612622632642652662672682692702712722732742752762772782792802812822832842852862872882892902912922932942952962972982993003013023033043053063073083093103113123133143153163173183193203213223233243253263273283293303313323333343353363373383393403413423433443453463473483493503513523533543553563573583593603613623633643653663673683693703713723733743753763773783793803813823833843853863873883893903913923933943953963973983994004014024034044054064074084094104114124134144154164174184194204214224234244254264274284294304314324334344354364374384394404414424434444454464474484494504514524534544554564574584594604614624634644654664674684694704714724734744754764774784794804814824834844854864874884894904914924934944954964974984995005015025035045055065075085095105115125135145155165175185195205215225235245255265275285295305315325335345355365375385395405415425435445455465475485495505515525535545555565575585595605615625635645655665675685695705715725735745755765775785795805815825835845855865875885895905915925935945955965975985996006016026036046056066076086096106116126136146156166176186196206216226236246256266276286296306316326336346356366376386396406416426436446456466476486496506516526536546556566576586596606616626636646656666676686696706716726736746756766776786796806816826836846856866876886896906916926936946956966976986997007017027037047057067077087097107117127137147157167177187197207217227237247257267277287297307317327337347357367377387397407417427437447457467477487497507517527537547557567577587597607617627637647657667677687697707717727737747757767777787797807817827837847857867877887897907917927937947957967977987998008018028038048058068078088098108118128138148158168178188198208218228238248258268278288298308318328338348358368378388398408418428438448458468478488498508518528538548558568578588598608618628638648658668678688698708718728738748758768778788798808818828838848858868878888898908918928938948958968978988999009019029039049059069079089099109119129139149159169179189199209219229239249259269279289299309319329339349359369379389399409419429439449459469479489499509519529539549559569579589599609619629639649659669679689699709719729739749759769779789799809819829839849859869879889899909919929939949959969979989991000100110021003100410051006100710081009101010111012101310141015101610171018101910201021102210231024102510261027102810291030103110321033103410351036103710381039104010411042104310441045104610471048104910501051105210531054105510561057105810591060106110621063106410651066106710681069107010711072107310741075107610771078107910801081108210831084108510861087108810891090109110921093109410951096109710981099110011011102110311041105110611071108110911101111111211131114111511161117111811191120112111221123112411251126112711281129113011311132113311341135113611371138113911401141114211431144114511461147114811491150115111521153115411551156115711581159116011611162