string(13) "markets-macro"

Macro

July 18, 2023

A provident state of mind

Local governments are doing all they can to boost home purchases. According to Cailianshe, 11 cities – including Zhenjiang, Suqian, and Pu’er – have tweaked rules to ease access to the housing provident fund (HPF) in the first week of July. ICYDK: The HPF is an employee/employer-funded social insura… Username Password Remember Me … Read More »

Local governments are doing all they can to boost home purchases.
According to Cailianshe, 11 cities – including Zhenjiang, Suqian, and Pu’er – have tweaked rules to ease access to the housing provident fund (HPF) in the first week of July.
ICYDK: The HPF is an employee/employer-funded social insura...

sources

Cailianshe: 优化住房公积金政策成楼市调整主力军 7月已有11城出台公积金新政

Zhuge Housing Data Research Center: 2023上半年房地产市场总结与展望（完整版）

July 18, 2023

The Sheinfather

Make em’ an algorithm they can’t refuse. Last Tuesday, Chinese fast-fashion e-commerce platform Shein was sued in US court under the RICO Act for IP theft. Why that’s super weird: The RICO Act was originally created to battle decentralized criminal enterprises – specifically, the mafia. The plain…

Make em' an algorithm they can't refuse.
Last Tuesday, Chinese fast-fashion e-commerce platform Shein was sued in US court under the RICO Act for IP theft.
Why that's super weird: The RICO Act was originally created to battle decentralized criminal enterprises - specifically, the mafia.

The plain...

sources

Source: Plaintiffs Krista Perry, Larissa Martinez, and Jay Baron (“Plaintiffs”) hereby bring this complaint against Defendants Shein Distribution Corporation; Roadget Business Pte. Ltd; Zoetop Business Company, Limited; and Does 1-10 inclusive (“Shein” or “Defendants”)

WSJ: China’s Fast-Fashion Giant Shein Faces Dozens of Lawsuits Alleging Design Theft

July 18, 2023

First one to Blinkin loses

The US and China just can’t see eye to eye. On Friday, China’s top foreign affairs official Wang Yi met with US Secretary of State Anthony Blinken in Jakarta to continue discussing US-China relations. Background: After several years of diplomatic standstill, Chinese officials are re-engaging with t…

The US and China just can't see eye to eye.
On Friday, China's top foreign affairs official Wang Yi met with US Secretary of State Anthony Blinken in Jakarta to continue discussing US-China relations.
Background: After several years of diplomatic standstill, Chinese officials are re-engaging with t...

sources

Xinhua: Wang Yi urges U.S. to take concrete actions to bring China-U.S. relations back to right track

NYT: Blinken Meets China’s Top Diplomat in Latest Bid to Ease Tensions

July 18, 2023

Another loop in the spiral

Western countries are expected to tighten existing chip controls on China. That’s according to a Bloomberg report released on Friday. Some context: A few weeks ago, the Netherlands rolled out its export controls on semiconductor equipment, including advanced lithography systems and deposition mac…

Western countries are expected to tighten existing chip controls on China.

That's according to a Bloomberg report released on Friday.

Some context: A few weeks ago, the Netherlands rolled out its export controls on semiconductor equipment, including advanced lithography systems and deposition mac...

sources

Bloomberg: ASML Faces Tighter Dutch Restrictions on Servicing Chip Equipment in China

July 17, 2023

The cybersecurity broken record

Xi Jinping has no intention of loosening internet controls. This was the main message from the National Cybersecurity and Informatization Work Conference (NCIWC), in which government cybersecurity priorities are set. Xi told officials to (Reuters): “Build a ‘solid’ security barrier around [China’s]…

Xi Jinping has no intention of loosening internet controls.
This was the main message from the National Cybersecurity and Informatization Work Conference (NCIWC), in which government cybersecurity priorities are set.
Xi told officials to (Reuters):

“Build a ‘solid’ security barrier around [China's]...

sources

news.cn: 习近平对网络安全和信息化工作作出重要指示

Reuters: Xi Jinping calls for 'solid' security barrier around China's internet

Xinhua: 人民日报评论员：筑牢国家网络安全屏障

CAC: 我国网络安全工作发展成就与变革

DWNews: 习近平“网络亮剑”，任网安组长

July 17, 2023

Open-and-shut case

China’s stats bureau released the Q2 GDP results on Monday. The headlines: The economy expanded 6.3% y/y in Q2, compared with 4.5% y/y in Q1 of this year. GDP was up 0.8% on a seasonally adjusted basis versus the previous three months. The GDP print was a big miss: The consensus forecast was for 7…

China’s stats bureau released the Q2 GDP results on Monday.
The headlines:

The economy expanded 6.3% y/y in Q2, compared with 4.5% y/y in Q1 of this year.
GDP was up 0.8% on a seasonally adjusted basis versus the previous three months.

The GDP print was a big miss: The consensus forecast was for 7...

sources

NBS: 上半年国民经济恢复向好

NBS: 2023年上半年社会消费品零售总额增长8.2%

July 17, 2023

No game plan

Beijing’s runnin’ outta ways to stimulate the economy. On Friday, the State Council called for constructing “civilian-emergency dual use” infrastructure in large cities. Sounds fancy, but this refers to hotels that can be adapted into quarantine and treatment centers during public emergencies (NDRC…

Beijing's runnin' outta ways to stimulate the economy.
On Friday, the State Council called for constructing “civilian-emergency dual use” infrastructure in large cities.

Sounds fancy, but this refers to hotels that can be adapted into quarantine and treatment centers during public emergencies (NDRC...

sources

NDRC: 国家发展改革委“平急两用”设施建设现场会在北京平谷召开

Gov.cn: 李强主持召开国务院常务会议听取迎峰度夏能源电力安全保供工作情况汇报等

July 17, 2023

Power to the plants

As Beijing tries to reboot the economy, officials are hellbent on ensuring that industrial producers have the electricity they need – especially in the face of potential summer power shortages. The latest: At a State Council meeting on Friday, Premier Li Qiang barked out orders to keep the power on…

As Beijing tries to reboot the economy, officials are hellbent on ensuring that industrial producers have the electricity they need – especially in the face of potential summer power shortages.
The latest: At a State Council meeting on Friday, Premier Li Qiang barked out orders to keep the power on...

sources

Gov.cn: 李强主持召开国务院常务会议听取迎峰度夏能源电力安全保供工作情况汇报等

July 17, 2023

Baby, it’s cold outside

Global investor sentiment has soured on China, but the authorities are taking steps to turn that around. Financial regulators have invited a group of top foreign financial investors to a confidence-boosting meeting in Beijing, to be held on July 21 (Reuters). Who’s on the guest list? Sovereign wealt…

Global investor sentiment has soured on China, but the authorities are taking steps to turn that around.
Financial regulators have invited a group of top foreign financial investors to a confidence-boosting meeting in Beijing, to be held on July 21 (Reuters).
Who's on the guest list? Sovereign wealt...

sources

Reuters: Exclusive: China invites global investors for rare meeting as economy sputters

July 17, 2023

Don’t block the COC

Beijing is pushing hard to get a code of conduct (COC) for the South China Sea in place. On Thursday, China and the Association of Southeast Asian Nations (ASEAN) agreed to guidelines for accelerated COC negotiations, and completed a review of the draft code months ahead of schedule. ICYDK: ASEAN a…

Beijing is pushing hard to get a code of conduct (COC) for the South China Sea in place.
On Thursday, China and the Association of Southeast Asian Nations (ASEAN) agreed to guidelines for accelerated COC negotiations, and completed a review of the draft code months ahead of schedule.
ICYDK: ASEAN a...

sources

MoFA: 王毅就南海问题阐明中方原则立场

SCMP: China and Asean take another step towards South China Sea code of conduct

July 17, 2023

Say what you mean, mean what you say

China is done with American salami slicing. Two Xinhua editorials late last week state that Washington can’t expect to cooperate with Beijing in some areas while suppressing it in others. Some context: The pieces were published in advance of US climate envoy John Kerry’s arrival in Beijing for talks…

China is done with American salami slicing.
Two Xinhua editorials late last week state that Washington can’t expect to cooperate with Beijing in some areas while suppressing it in others.
Some context: The pieces were published in advance of US climate envoy John Kerry’s arrival in Beijing for talks...

sources

Xinhua: 新华时评：校准中美关系航向的又一步

Xinhua: Opinion: It takes more than climate envoy to change climate of China-U.S. ties

July 17, 2023

Marginal optimization

China’s central bank (PBoC) says the time has come to roll back some policy restrictions imposed on housing sales when the market was overheating. At a press conference Friday, Zou Lan, director of the PBoC’s monetary policy department, said: “Considering that the relationship between supply and de…

China’s central bank (PBoC) says the time has come to roll back some policy restrictions imposed on housing sales when the market was overheating.
At a press conference Friday, Zou Lan, director of the PBoC’s monetary policy department, said:

“Considering that the relationship between supply and de...

sources

SCIO: 国新办举行2023年上半年金融统计数据情况新闻发布会图文实录

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