string(13) "markets-macro"

Macro

August 23, 2023

Spies like them – episode 2

China’s security services have revealed the details of yet another espionage case. Information on the case was posted on the Ministry of State Security’s (MSS) WeChat account on Monday – the second case it has highlighted in recent weeks. The suspect: Hao, a 39-year-old ministry official, recruite… Username Password Remember Me Forgot Password

China’s security services have revealed the details of yet another espionage case.

Information on the case was posted on the Ministry of State Security's (MSS) WeChat account on Monday – the second case it has highlighted in recent weeks.

The suspect: Hao, a 39-year-old ministry official, recruite...

sources

MSS WeChat: 国家安全机关又公布一起美国中央情报局间谍案！

August 23, 2023

BRICS through the window of US hegemony

Xi Jinping wants to turn BRICS into a bloc to be reckoned with. On Monday, Xi touched down in Johannesburg, South Africa, for the 15th BRICS Summit and was scheduled to deliver a speech at the BRICS Business Forum the following day. But he didn’t deliver his speech. We don’t know why, but Xi ultima…

Xi Jinping wants to turn BRICS into a bloc to be reckoned with.
On Monday, Xi touched down in Johannesburg, South Africa, for the 15th BRICS Summit and was scheduled to deliver a speech at the BRICS Business Forum the following day.
But he didn’t deliver his speech.

We don’t know why, but Xi ultima...

sources

Xinhua: 习近平在2023年金砖国家工商论坛闭幕式上的致辞（全文）

SCMP: No explanation as Xi Jinping unexpectedly skips his speech at Brics business forum

August 23, 2023

! ke e: /xarra //ke

China’s relationship with South Africa “has entered a ‘golden era.'” That was Xi Jinping’s message, published in an op-ed hours before he met with South Africa’s President Cyril Ramaphosa in Pretoria, on Tuesday (Xinhua). Apparently, the feeling is mutual: “Ramaphosa described China as a sincere b…

China's relationship with South Africa "has entered a 'golden era.'"
That was Xi Jinping's message, published in an op-ed hours before he met with South Africa's President Cyril Ramaphosa in Pretoria, on Tuesday (Xinhua).
Apparently, the feeling is mutual:

"Ramaphosa described China as a sincere b...

sources

Xinhua: Xi calls on China, S. Africa to strengthen four partnerships in golden era

MoFA: 中华人民共和国和南非共和国联合声明

MoFA: 习近平同南非总统拉马福萨共同会见记者

August 23, 2023

No Zunyi for you

Beijing appears to have shut the door to one avenue for local government financing vehicles (LGFVs) to restructure their debts – ultra-long-term loans. On Monday, Caixin reported that regulators won’t replicate the model used to bail out Zunyi Road and Bridge Construction Group, an LGFV in Guizhou …

Beijing appears to have shut the door to one avenue for local government financing vehicles (LGFVs) to restructure their debts – ultra-long-term loans.
On Monday, Caixin reported that regulators won't replicate the model used to bail out Zunyi Road and Bridge Construction Group, an LGFV in Guizhou ...

sources

Caixin: 最新封面报道 | 如何消化地方债

August 23, 2023

A slide show

Once a golden goose, property development in China has turned into a pool of deep red ink. That’s according to profit data compiled by China Real Estate Business, a newspaper affiliated with the housing regulator (MoHURD). The details: Of the nearly 80 mainland and Hong Kong-listed developers that…

Once a golden goose, property development in China has turned into a pool of deep red ink.

That’s according to profit data compiled by China Real Estate Business, a newspaper affiliated with the housing regulator (MoHURD).

The details: Of the nearly 80 mainland and Hong Kong-listed developers that...

sources

China Real Estate Business: 预计亏损总额超千亿元：房企仍深陷经营危机

HKEX: COUNTRY GARDEN HOLDINGS COMPANY LIMITED: PROFIT WARNING INSIDE INFORMATION ANNOUNCEMENT

HKEX: YUZHOU GROUP HOLDINGS COMPANY LIMITED: PROFIT WARNING ANNOUNCEMENT

August 23, 2023

How low can you go

A record number of cities have cut mortgage rates below the central bank (PBoC) benchmark, as part of efforts to boost housing demand – but so far, to little effect. At the end of June, out of 343 cities at prefectural level or above: 87 had lowered the floor on mortgage rates for first-time home… Read More »

A record number of cities have cut mortgage rates below the central bank (PBoC) benchmark, as part of efforts to boost housing demand – but so far, to little effect.
At the end of June, out of 343 cities at prefectural level or above:

87 had lowered the floor on mortgage rates for first-time home b...

sources

PBoC: 2023年第二季度中国货币政策执行报告

PBoC: 2023年第一季度中国货币政策执行报告

August 23, 2023

Did somebody say consumption-oriented stimulus?

Finally, calls for consumption-oriented stimulus are coming from inside the house – or at least the doorstep. In an essay published August 14, Cai Fang, a member of the central bank’s (PBoC) monetary policy committee, wrote: “The most urgent goal now is to stimulate residents’ consumption…[and] put…

Finally, calls for consumption-oriented stimulus are coming from inside the house – or at least the doorstep.
In an essay published August 14, Cai Fang, a member of the central bank’s (PBoC) monetary policy committee, wrote:

“The most urgent goal now is to stimulate residents' consumption…[and] put...

sources

China Finance 40 Forum: 促消费回归应为最紧迫政策目标

August 23, 2023

The algo nitty-gritty

Laws, regs, standards… anything to get the job done. On Wednesday, China’s cybersecurity technical standards body (TC260) released draft standards for automated decision-making powered by personal information. Some context: The Personal Information Protection Law (PIPL) and the historic regulations …

Laws, regs, standards… anything to get the job done.
On Wednesday, China’s cybersecurity technical standards body (TC260) released draft standards for automated decision-making powered by personal information.
Some context: The Personal Information Protection Law (PIPL) and the historic regulations ...

sources

TC260: 关于国家标准《信息安全技术基于个人信息的自动化决策安全要求》征求意见稿征求意见的通知

August 23, 2023

Beijing bans AI doctors

Beijing is moving to rein in AI’s role in healthcare. On Monday, Chinese media reported that the Beijing Municipal Health Commission has released new measures on internet-based diagnosis and treatment. Background: China has been broadly cracking down on the healthcare industry, responding to wides…

Beijing is moving to rein in AI's role in healthcare.
On Monday, Chinese media reported that the Beijing Municipal Health Commission has released new measures on internet-based diagnosis and treatment.
Background: China has been broadly cracking down on the healthcare industry, responding to wides...

sources

Baike: 北京市互联网诊疗监管实施办法

Sixth Tone: Health Care Conferences Canceled as Anti-Corruption Campaign Intensifies

August 23, 2023

Cutting red tape

Premier Li Qiang wants sensible data regulations. That’s the cue we picked up from Monday’s State Council study session, focused on the digital economy. ICYDK: Increasingly strict data regulations have drastically increased compliance burdens for foreign and domestic companies over the…

Premier Li Qiang wants sensible data regulations.

That’s the cue we picked up from Monday’s State Council study session, focused on the digital economy.

ICYDK: Increasingly strict data regulations have drastically increased compliance burdens for foreign and domestic companies over the...

sources

State Council: 李强主持国务院第三次专题学习

August 22, 2023

A diplomatic duet

Beijing desperately wants the EU to adopt an independent foreign policy. And France could be the perfect flagbearer. That was the takeaway from a virtual meeting between top diplomat Wang Yi and French Foreign Minister Catherine Colonna, on Monday. With pleasantries out the way, Wang made his big …

Beijing desperately wants the EU to adopt an independent foreign policy.

And France could be the perfect flagbearer.

That was the takeaway from a virtual meeting between top diplomat Wang Yi and French Foreign Minister Catherine Colonna, on Monday.
With pleasantries out the way, Wang made his big ...

sources

MoFA: 王毅同法国外长科隆纳通电话

France Diplomacy: China – Conversation between the Minister and her counterpart, Mr Wang Yi - Communique issued by the ministry for Europe and foreign Affairs (18 August 2023)

August 22, 2023

Conservative easing

China’s latest interest rate cut will provide relief for firms struggling with deflation but do little to boost credit demand. On Monday, the central bank (PBoC) disclosed that the one-year loan prime rate (LPR) – the benchmark rate for pricing most corporate bank loans – dropped by 10 bps to 3.45%….

China’s latest interest rate cut will provide relief for firms struggling with deflation but do little to boost credit demand.
On Monday, the central bank (PBoC) disclosed that the one-year loan prime rate (LPR) – the benchmark rate for pricing most corporate bank loans – dropped by 10 bps to 3.45%....

sources

PBoC: 2023年8月21日全国银行间同业拆借中心受权公布贷款市场报价利率（LPR）公告

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