string(13) "markets-macro"

Macro

July 20, 2023

Closing the swimwear gap

Beijing has fired a warning shot across Washington’s bow. On Wednesday, Chinese Ambassador to the US Xie Feng delivered this message at the Aspen Security Forum in Colorado: Beijing is ready to fight back against Washington’s economic suppression. Xie said that China didn’t mind fair competition, … Username Password Remember Me Forgot Password

Beijing has fired a warning shot across Washington’s bow.
On Wednesday, Chinese Ambassador to the US Xie Feng delivered this message at the Aspen Security Forum in Colorado:

Beijing is ready to fight back against Washington’s economic suppression.

Xie said that China didn’t mind fair competition, ...

sources

FT: China warns of retaliation to US curbs on investment and chips

July 20, 2023

Empowering the private sector

The Party’s big plan to boost the private sector promises to give private businesses more political power. On Wednesday, the Party Central Committee and State Council jointly released guidelines on boosting the private sector. In it, Beijing instructs ministries to boost business confidence by gett…

The Party's big plan to boost the private sector promises to give private businesses more political power.
On Wednesday, the Party Central Committee and State Council jointly released guidelines on boosting the private sector.

In it, Beijing instructs ministries to boost business confidence by gett...

sources

Gov.cn: 中共中央国务院关于促进民营经济发展壮大的意见

July 20, 2023

Private pleas

Beijing is trying to revive private business confidence. On Wednesday, the Party Central Committee and the State Council released guidelines to support the private sector. This comes straight from the top – the document was approved at a meeting of the Party’s highest policy-making body, the Centra…

Beijing is trying to revive private business confidence.
On Wednesday, the Party Central Committee and the State Council released guidelines to support the private sector.

This comes straight from the top – the document was approved at a meeting of the Party's highest policy-making body, the Centra...

sources

Gov.cn: 中共中央国务院关于促进民营经济发展壮大的意见

Gov.cn: 刘鹤主持召开国务院促进中小企业发展工作领导小组第一次会议

July 19, 2023

Q2 GDP data underscores Beijing’s growth challenge

To download this piece as a PDF, click here. When China announced this year’s growth target of “around 5%”back in March, it was interpreted as officials low balling expectations.However, with econ numbers now in for the first half of 2023, 5% GDPgrowth for this year has become the consensus forecast…

To download this piece as a PDF, click here.
When China announced this year’s growth target of “around 5%”back in March, it was interpreted as officials low balling expectations.However, with econ numbers now in for the first half of 2023, 5% GDPgrowth for this year has become the consensus forecast...

July 19, 2023

Grow – and be green

Constructing an ecological civilization, and a Beautiful China, requires lots of relationship management. How do we know? Well, Xi Jinping devoted a chunk of his speech at the National Ecological and Environmental Protection Conference (Monday and Tuesday) to discussing the major relationships that…

Constructing an ecological civilization, and a Beautiful China, requires lots of relationship management.

How do we know? Well, Xi Jinping devoted a chunk of his speech at the National Ecological and Environmental Protection Conference (Monday and Tuesday) to discussing the major relationships that...

sources

Gov.cn: 习近平在全国生态环境保护大会上强调：全面推进美丽中国建设加快推进人与自然和谐共生的现代化

July 19, 2023

Innovate the way to bluer skies

China will become a global leader in environmental protection by charting its own path. So don’t expect Beijing to cave to outside pressure – even from the likes of US climate envoy John Kerry, who just concluded a visit to China. That was among the key takeaways from Xi Jinping’s agenda-setting s…

China will become a global leader in environmental protection by charting its own path.

So don't expect Beijing to cave to outside pressure – even from the likes of US climate envoy John Kerry, who just concluded a visit to China.

That was among the key takeaways from Xi Jinping’s agenda-setting s...

sources

Gov.cn: 习近平在全国生态环境保护大会上强调：全面推进美丽中国建设加快推进人与自然和谐共生的现代化

July 19, 2023

Pricey purchases plummet

Recent consumer data paints a grim picture for China’s economy. Per the stats bureau’s (NBS) econ data release on Monday, real disposable income per capita grew just 5.8% y/y in H1 2023. While that’s up from 3% growth in H1 2022, it remains significantly below the five-year pre-pandemic average gro…

Recent consumer data paints a grim picture for China's economy.
Per the stats bureau’s (NBS) econ data release on Monday, real disposable income per capita grew just 5.8% y/y in H1 2023.

While that’s up from 3% growth in H1 2022, it remains significantly below the five-year pre-pandemic average gro...

sources

Stats.gov.cn: 上半年国民经济恢复向好

July 19, 2023

Sun, Wind & Fire

China’s macro planner (NDRC) thinks the country can weather the rest of the summer without power shortages. The regulator made the welcome announcement at a Monday presser, closing the loop on nearly five months of summer shortage risk warnings. The high temps driving up power demand haven’t subsi…

China's macro planner (NDRC) thinks the country can weather the rest of the summer without power shortages.

The regulator made the welcome announcement at a Monday presser, closing the loop on nearly five months of summer shortage risk warnings.

The high temps driving up power demand haven't subsi...

sources

NDRC: 国家发展改革委7月新闻发布会

July 19, 2023

Stalling out

China’s property market “recovery” reached a standstill in June. Indeed, when it came to home prices in 70 of China’s biggest cities (Bloomberg): Average new home prices recorded their first m/m decline of the year, sliding 0.06%. Only 31 cities reported m/m growth in new home prices, down from 46 …

China's property market "recovery" reached a standstill in June.
Indeed, when it came to home prices in 70 of China’s biggest cities (Bloomberg):

Average new home prices recorded their first m/m decline of the year, sliding 0.06%.
Only 31 cities reported m/m growth in new home prices, down from 46 ...

sources

NBS: 2023年6月份70个大中城市商品住宅销售价格变动情况

NBS: 国家统计局解读2023年6月份商品住宅销售价格变动情况统计数据

Bloomberg: China Home Prices Resume Decline After Five-Month Stabilization

Securities Times: 有关房价！统计局最新发布

July 19, 2023

Extreme Home Makeover: MofCom edition

Beijing wants people to make their houses nicer – and boost the economy in the process. On Tuesday, 13 departments, including the commerce ministry (MofCom), released measures aimed at promoting consumption of home furnishings. ICYMI: China’s consumption recovery continues to sputter, with retail sa…

Beijing wants people to make their houses nicer – and boost the economy in the process.
On Tuesday, 13 departments, including the commerce ministry (MofCom), released measures aimed at promoting consumption of home furnishings.
ICYMI: China’s consumption recovery continues to sputter, with retail sa...

sources

MofCom: 商务部等13部门关于促进家居消费若干措施的通知

MoHURD: 住房城乡建设部等部门印发《关于扎实推进2023年城镇老旧小区改造工作的通知》

July 19, 2023

Betting the farm

Beijing is laying the groundwork to massively ramp up investments in agricultural facilities. On Tuesday, the ag ministry (MARA) told localities to input all their shovel-ready agricultural projects into a new national database. Submitted projects will be categorized based on funding requirements a…

Beijing is laying the groundwork to massively ramp up investments in agricultural facilities.
On Tuesday, the ag ministry (MARA) told localities to input all their shovel-ready agricultural projects into a new national database.

Submitted projects will be categorized based on funding requirements a...

sources

MARA: 农业农村部办公厅关于做好现代设施农业建设项目谋划储备的通知

July 19, 2023

Guess who’s back? Back again?

Henry’s back. Tell a friend. On Tuesday, centenarian Henry Kissinger held talks with Chinese Defense Minister Li Shangfu (65) during a surprise visit to Beijing. History lesson: The former US National Security Advisor organized US President Richard Nixon’s historic trip to China in 1972. Tha…

Henry's back.

Tell a friend.

On Tuesday, centenarian Henry Kissinger held talks with Chinese Defense Minister Li Shangfu (65) during a surprise visit to Beijing.
History lesson: The former US National Security Advisor organized US President Richard Nixon’s historic trip to China in 1972.

Tha...

sources

news.cn: 李尚福会见美国前国务卿基辛格

SCMP: US to blame for poor relations, sanctioned Chinese defence minister tells diplomatic veteran Henry Kissinger

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