string(13) "markets-macro"

Macro

August 16, 2023

Don’t settle for one

Several second-tier cities are planning to reduce down payment requirements for buyers of second homes. CCTV reported on Tuesday that the cities include Fuzhou, Xiamen, Chengdu, and Shenyang. Citing unnamed sources, CCTV said regulators will lower the minimum down payment in these cities to 30%. … Username Password Remember Me Forgot Password

Several second-tier cities are planning to reduce down payment requirements for buyers of second homes.

CCTV reported on Tuesday that the cities include Fuzhou, Xiamen, Chengdu, and Shenyang.

Citing unnamed sources, CCTV said regulators will lower the minimum down payment in these cities to 30%.

...

sources

CCTV: 福州厦门成都等多个城市拟于近日降低二套房首付比例下限

August 16, 2023

Deposits qu nar?

Savers are finally paring back their bank deposits – but so far, it’s not translating into higher consumption. On Friday, freshly released central bank (PBoC) data showed household deposits fell in July, by RMB 809.3 billion – the first decline since March. Deposits of non-financial firms also fell…

Savers are finally paring back their bank deposits – but so far, it's not translating into higher consumption.
On Friday, freshly released central bank (PBoC) data showed household deposits fell in July, by RMB 809.3 billion – the first decline since March.

Deposits of non-financial firms also fell...

sources

PBoC: 2023年7月金融统计数据报告

Caixin: https://finance.caixin.com/2023-08-12/102092479.html

August 16, 2023

Summertime sadness…suspended

China’s youth unemployment rate probably hit a new record high in July. But we can’t be sure. That’s because on Tuesday, as part of its July data dump, the National Bureau of Statistics (NBS) announced it had temporarily suspended release of youth employment data. ICYDK: The rate, which covers urb…

China's youth unemployment rate probably hit a new record high in July.
But we can't be sure.

That's because on Tuesday, as part of its July data dump, the National Bureau of Statistics (NBS) announced it had temporarily suspended release of youth employment data.

ICYDK: The rate, which covers urb...

sources

The Paper: 青年人调查失业率为何暂停发布？大学毕业生就业状况如何？国家统计局回应

August 16, 2023

Crossing the Line (of Actual Control)

Beijing is scrambling for a breakthrough with New Delhi. On Sunday and Monday, representatives of the Chinese and Indian militaries met in the disputed Eastern Ladakh region for the 19th round of Corps Commander-level talks. The Chinese readout was vague (Ministry of Defense): “The two sides exchan…

Beijing is scrambling for a breakthrough with New Delhi.
On Sunday and Monday, representatives of the Chinese and Indian militaries met in the disputed Eastern Ladakh region for the 19th round of Corps Commander-level talks.
The Chinese readout was vague (Ministry of Defense):

“The two sides exchan...

sources

Ministry of National Defense: 中印第十九轮军长级会谈联合新闻稿

SCMP: Why India is wary of China’s BRICS expansion push as Indonesia, Saudi Arabia, Egypt seek to join

August 16, 2023

Greener than green

A good environment is not a nice-to-have. It’s a must-have. That’s according to Xi Jinping’s message for National Ecology Day. ICYMI: In June, the legislature designated August 15 as National Ecology Day to promote Xi’s Thought on Ecological Civilization. Executive Vice Premier Ding Xuexiang deliver…

A good environment is not a nice-to-have. It's a must-have.
That's according to Xi Jinping's message for National Ecology Day.
ICYMI: In June, the legislature designated August 15 as National Ecology Day to promote Xi's Thought on Ecological Civilization.
Executive Vice Premier Ding Xuexiang deliver...

sources

Gov.cn: 习近平在首个全国生态日之际作出重要指示强调：全社会行动起来做绿水青山就是金山银山理念的积极传播者和模范践行者

August 16, 2023

Old Macdonald had a QLED TV

Beijing wants to unleash the countryside’s consumption. On Monday, nine agencies, including the state planner (NDRC), published a three-year action plan to boost commercial activity in rural areas. ICYMI: This plan comes on the heels of numerous high-level consumption-boosting measures, including ND…

Beijing wants to unleash the countryside’s consumption.
On Monday, nine agencies, including the state planner (NDRC), published a three-year action plan to boost commercial activity in rural areas.
ICYMI: This plan comes on the heels of numerous high-level consumption-boosting measures, including ND...

sources

Gov.cn: 商务部等9部门办公厅（室）关于印发《县域商业三年行动计划（2023-2025年）》的通知

Sina: 《中国农村发展报告2022》：预测2035年农村居民人均可支配收入将达到42801元

August 16, 2023

Gather round, we’re all ears

The tables are, disappointingly, arranged in a square or rectangular fashion. But authorities appear determined to make “roundtable meetings” with foreign companies a regular occurrence, as part of Beijing’s new push to attract foreign investment. On Monday, the State Council released a Q&A expl…

The tables are, disappointingly, arranged in a square or rectangular fashion.
But authorities appear determined to make "roundtable meetings" with foreign companies a regular occurrence, as part of Beijing's new push to attract foreign investment.
On Monday, the State Council released a Q&A expl...

sources

Gov.cn WeChat Account: 吸引外资将采取哪些措施？外资企业如有疑问在哪反映？权威回应

Gov.cn: 国务院关于进一步优化外商投资环境加大吸引外商投资力度的意见

August 16, 2023

Wait for it, wait for it…

China’s central bank (PBoC) is laying the groundwork for reducing benchmark loan prime rates (LPRs) next week. On Tuesday, the PBoC cut the interest rate on funds it lends out under its standing lending facility (SLF) by 10 bps. It also cut the seven-day reverse repo rate by 10 bps to 1.80% and the…

China’s central bank (PBoC) is laying the groundwork for reducing benchmark loan prime rates (LPRs) next week.
On Tuesday, the PBoC cut the interest rate on funds it lends out under its standing lending facility (SLF) by 10 bps.

It also cut the seven-day reverse repo rate by 10 bps to 1.80% and the...

sources

PBoC: 常备借贷便利利率表（自2023年8月15日起执行）

August 16, 2023

Another hacking shakeup

On Monday, state media outlet Global Times accused US intelligence agencies of hacking the Wuhan Earthquake Monitoring Center. More deets: On July 26, the monitoring center reported that complex backdoors had been discovered in its networks. China’s National Computer Virus Emergency Response Cente…

On Monday, state media outlet Global Times accused US intelligence agencies of hacking the Wuhan Earthquake Monitoring Center.
More deets: On July 26, the monitoring center reported that complex backdoors had been discovered in its networks.

China's National Computer Virus Emergency Response Cente...

sources

Global Times: Exclusive: China identifies the culprits behind cyberattack on Wuhan Earthquake Monitoring Center; a secretive US global reconnaissance system to be exposed

August 16, 2023

Welcome back, Tesla

Well, that was quick. ICYMI: On Monday, we told you that an airport in Hunan had banned Tesla vehicles from its parking lot due to data security concerns. The worry was that Teslas in “Sentry Mode” could be used to remotely collect sensitive information through their onboard cameras, even when th…

Well, that was quick.
ICYMI: On Monday, we told you that an airport in Hunan had banned Tesla vehicles from its parking lot due to data security concerns.

The worry was that Teslas in "Sentry Mode" could be used to remotely collect sensitive information through their onboard cameras, even when th...

sources

Weibo: 针对近日网友关心的特斯拉“哨兵模式”，这里统一向大家报告：

Sixth Tone: Chinese Airport Lifts Tesla Ban After Sentry Mode Clarification

Guancha: 特斯拉：已在中国建立数据中心，所有中国大陆市场车辆数据存储在境内

August 16, 2023

Investment restrictions? Meh.

China is shrugging off the latest US investment restrictions. ICYMI: Last week, US President Joe Biden issued an executive order that proposes restrictions on US investment in China’s tech sector – specifically chips, quantum information, and AI. On Friday, CITIC Securities published a note sa…

China is shrugging off the latest US investment restrictions.
ICYMI: Last week, US President Joe Biden issued an executive order that proposes restrictions on US investment in China’s tech sector – specifically chips, quantum information, and AI.
On Friday, CITIC Securities published a note sa...

sources

CITIC: 【中信证券】美国对华投资限制行政令影响几何

Caijing: 美国启动第三轮对中国科技投资限制

August 16, 2023

Three’s a crowd

On Monday, China’s domestic outlets criticized the upcoming trilateral meeting between the US, Japan, and South Korea. Some context: President Biden will host Japanese Prime Minister Kishida Fumio and South Korea’s President Yoon Suk-yeol on August 18 at Camp David. New political and military coop…

On Monday, China's domestic outlets criticized the upcoming trilateral meeting between the US, Japan, and South Korea.
Some context: President Biden will host Japanese Prime Minister Kishida Fumio and South Korea’s President Yoon Suk-yeol on August 18 at Camp David.

New political and military coop...

sources

Reuters: Exclusive: US, S. Korea, Japan to launch new defense steps at Camp David -officials

36kr: 日美韩首脑会谈拟确认扩大AI、能源等非军事领域合作

The Economist: Why Joe Biden will host Japan and South Korea’s leaders at Camp David

Global Times: Northeast Asia not arena of confrontation for US, Japan and South Korea

China Daily: Camp David could explode regional stability: China Daily editorial

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