string(13) "markets-macro"

Macro

July 21, 2023

(Re)cycle of life

State-owned enterprises (SOEs) need to play a bigger role in resource recycling (RR). That’s according to Xu Junxiang, chairman of the China National Resources Recycling Association (CNRRA). Some context: RR is crucial to China’s industrial decarbonization and resource security strategies. If left… Username Password Remember Me Forgot Password

State-owned enterprises (SOEs) need to play a bigger role in resource recycling (RR).

That’s according to Xu Junxiang, chairman of the China National Resources Recycling Association (CNRRA).

Some context: RR is crucial to China’s industrial decarbonization and resource security strategies. If left...

sources

Yicai: 行业协会：央企将“托底”物资再生领域，相关部门正开展调研

July 21, 2023

Russia’s oil I need

China’s imports of Russian oil have once again set a new record. In June, inbound shipments rose 40% y/y to 10.5 million metric tons. The new high caps off a banner H1 which saw China import 11.4 million barrels per day (bpd) of crude – including 2.6 million bpd from Russia. Total daily crude impo…

China's imports of Russian oil have once again set a new record.
In June, inbound shipments rose 40% y/y to 10.5 million metric tons.
The new high caps off a banner H1 which saw China import 11.4 million barrels per day (bpd) of crude – including 2.6 million bpd from Russia.

Total daily crude impo...

sources

Bloomberg: China Swallows Record Flows of Russian Oil and Coal as War Drags

July 21, 2023

Ukraine grain pain

Russia’s war in Ukraine is hitting Beijing where it hurts – the stomach. On Thursday, Vice Minister of Commerce Ling Ji met with Ukraine’s Deputy Minister of Economy, Taras Kachka, in Beijing. You don’t see this everyday: Kachka is the first senior Ukrainian government official to visit China…

Russia's war in Ukraine is hitting Beijing where it hurts – the stomach.
On Thursday, Vice Minister of Commerce Ling Ji met with Ukraine’s Deputy Minister of Economy, Taras Kachka, in Beijing.
You don't see this everyday: Kachka is the first senior Ukrainian government official to visit China...

sources

Reuters: Russian attack damages Chornomorsk port grain infrastructure, destroys grain

China Youth Daily: 黑海粮食协议续约难 “中国方案”提供新选择

WSJ: Russia Says It Is Pulling Out of Ukraine Grain Deal

MofCom: 凌激副部长与乌克兰经济部副部长卡奇卡共同主持召开中国—乌克兰政府间合作委员会经贸合作分委会第七次会议

MoFA: 外交部发言人就俄罗斯对乌克兰空袭波及中国驻敖德萨总领馆答记者问

July 21, 2023

No pressure

Beijing is pushing a massive expansion of rural industry. But China’s leadership is terrified that localities will encroach on limited arable land to get it done. That’s why Xi Jinping focused Thursday’s entire Central Commission for Financial and Economic Affairs (CCFEA) meeting on protecting far…

Beijing is pushing a massive expansion of rural industry.
But China's leadership is terrified that localities will encroach on limited arable land to get it done.
That's why Xi Jinping focused Thursday's entire Central Commission for Financial and Economic Affairs (CCFEA) meeting on protecting far...

sources

Gov.cn: 习近平主持召开中央财经委员会第二次会议

July 21, 2023

Ride it, my Pony (Ma)

China’s tech platforms are showing Ginuwine enthusiasm for new government initiatives. On Wednesday, the Central Committee and State Council published Opinions on “Promoting the Development and Growth of the Private Economy.” Background: The policy appears to officially mark the end of the crackdow…

China's tech platforms are showing Ginuwine enthusiasm for new government initiatives.
On Wednesday, the Central Committee and State Council published Opinions on "Promoting the Development and Growth of the Private Economy."
Background: The policy appears to officially mark the end of the crackdow...

sources

Xinhua: （受权发布）中共中央国务院关于促进民营经济发展壮大的意见

Sina: 马化腾撰文：努力在高质量发展中展现更大作为

July 21, 2023

MIIT in the industrial diplomacy hot seat

The Ministry of Industry and Information Technology (MIIT) is laser focused on keeping foreign manufacturers investing in China. On Wednesday, MIIT held a State Council press conference to update the public on the agency’s initiatives and priorities. At the conference, spokesperson Zhao Zhiguo said …

The Ministry of Industry and Information Technology (MIIT) is laser focused on keeping foreign manufacturers investing in China.
On Wednesday, MIIT held a State Council press conference to update the public on the agency's initiatives and priorities.
At the conference, spokesperson Zhao Zhiguo said ...

sources

SCIO: 国新办举行2023年上半年工业和信息化发展情况新闻发布会图文实录

July 21, 2023

CSR with Chinese characteristics

It’s official: China’s platform companies are doing more good than bad. On Monday, the China Federation of Internet Societies (CFIS), an industry organization affiliated with China’s cyber regulator (CAC), published the first-ever “Internet Platform Enterprises Fulfillment of Social Responsibility A…

It’s official: China’s platform companies are doing more good than bad.
On Monday, the China Federation of Internet Societies (CFIS), an industry organization affiliated with China's cyber regulator (CAC), published the first-ever “Internet Platform Enterprises Fulfillment of Social Responsibility A...

sources

YLRB: 《互联网平台企业履行社会责任评估报告2023》首次发布

People.cn: 用网络汇聚文明力量

CFIS: 《互联网平台企业社会责任建设行动计划》

CFIS: 关于开展2022年度互联网平台企业履行社会责任评估工作的通知

July 21, 2023

Micron still in limbo

Rumor has it that Micron is scrambling to revert its China crisis. Micron CEO Sanjay Mehrotra visited the Ministry of Commerce (MofCom) on Wednesday, according to anonymous sources speaking to domestic media outlet NBD. Some context: In May, Beijing made an example out of Micron for lobbying Washin…

Rumor has it that Micron is scrambling to revert its China crisis.
Micron CEO Sanjay Mehrotra visited the Ministry of Commerce (MofCom) on Wednesday, according to anonymous sources speaking to domestic media outlet NBD.
Some context: In May, Beijing made an example out of Micron for lobbying Washin...

sources

NBD: 来了！美半导体巨头向中国示好

July 20, 2023

Demand on ICE

Regular readers know that Beijing has repeatedly expressed concern about the sluggish pace of consumption this year. Auto sales data show that the sorry state of consumption is attributable to low- and middle-income households. H1 auto sales disappointed. They were up a mere 2.7% y/y in H1 2023, a…

Regular readers know that Beijing has repeatedly expressed concern about the sluggish pace of consumption this year.

Auto sales data show that the sorry state of consumption is attributable to low- and middle-income households.

H1 auto sales disappointed. They were up a mere 2.7% y/y in H1 2023, a...

sources

CPCA: 2023年6月零售销量排名快报

CPCA: 2023年6月份全国乘用车市场分析

July 20, 2023

No taxation without stabilization

The housing market slump is adding even more pressure to already stretched local government budgets. Local government income from property sales declined once again in June, according to new data from the Ministry of Finance (Caixin): Land sales revenue – which accounted for well over a third of l…

The housing market slump is adding even more pressure to already stretched local government budgets.
Local government income from property sales declined once again in June, according to new data from the Ministry of Finance (Caixin):

Land sales revenue – which accounted for well over a third of l...

sources

Caixin: 6月财政收入同比增长5.6% 土地出让收入下降超20%

Ministry of Finance: 2023年上半年财政收支情况

Ministry of Finance: 2022年财政收支情况

China Finance 40 Forum: 房地产市场“新稳态”对地方财政影响几何

July 20, 2023

A regal affair

China wishes all its friends could be more like Cambodia. On Wednesday, Xi Jinping exchanged congratulations with Cambodia’s King Norodom Sihamoni on 65 years of diplomatic ties. A home away from home: The King’s father, Norodom Sihanouk, spent years living in Beijing. Sihamoni and his mother still…

China wishes all its friends could be more like Cambodia.
On Wednesday, Xi Jinping exchanged congratulations with Cambodia’s King Norodom Sihamoni on 65 years of diplomatic ties.
A home away from home: The King's father, Norodom Sihanouk, spent years living in Beijing. Sihamoni and his mother still...

sources

Xinhua: 习近平就中柬建交65周年同柬埔寨国王西哈莫尼互致贺电李强同柬埔寨首相洪森互致贺电

July 20, 2023

The Gang’s (not) all here

Foreign Minister Qin Gang has been missing from public view for more than three weeks. And authorities have failed to directly address repeated questions about his absence. This information vacuum has fueled (poorly substantiated) rumors and speculation about Qin’s whereabouts and political future…

Foreign Minister Qin Gang has been missing from public view for more than three weeks.

And authorities have failed to directly address repeated questions about his absence.

This information vacuum has fueled (poorly substantiated) rumors and speculation about Qin's whereabouts and political future...

sources

MoFA: 外交部长

AP: China says its foreign minister is ill. A senior diplomat will take his place at ASEAN

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