string(13) "markets-macro"

Macro

July 12, 2023

Shenzhen launches the other property market

China is one step closer to turning data into saleable assets. On Thursday, the city’s Development and Reform Commission finalized interim measures on the first municipal-level data property registration system. Background: We told you about the draft of this policy back in February. Recap: The pol… Username Password Remember Me Forgot Password

China is one step closer to turning data into saleable assets.
On Thursday, the city’s Development and Reform Commission finalized interim measures on the first municipal-level data property registration system.
Background: We told you about the draft of this policy back in February.
Recap: The pol...

sources

Shenzhen Gov.cn: 深圳市发展和改革委员会关于印发《深圳市数据产权登记管理暂行办法》的通知

Bloomberg: China Lays Out Vision for How Data Will Power Economic Growth

July 12, 2023

The picture of misinformation

The bloggers are out of control! On Monday, the CAC dropped a notice on strengthening management of content accounts operated by individual content creators. That means blogs or public-facing WeChat accounts created by brands and small businesses. This isn’t the first time this year the CAC has ad…

The bloggers are out of control!
On Monday, the CAC dropped a notice on strengthening management of content accounts operated by individual content creators.

That means blogs or public-facing WeChat accounts created by brands and small businesses.

This isn't the first time this year the CAC has ad...

sources

CAC: 关于加强“自媒体”管理的通知

July 12, 2023

I ban from a land down under

Is WeChat going down in the down under? On Tuesday, Australia’s Select Committee on Foreign Interference through Social Media kicked off a series of hearings to explore the national security risks posed by foreign social media applications. Representatives from major international platforms were i…

Is WeChat going down in the down under?
On Tuesday, Australia's Select Committee on Foreign Interference through Social Media kicked off a series of hearings to explore the national security risks posed by foreign social media applications.

Representatives from major international platforms were i...

sources

Sydney Morning Herald: ‘Contempt’: WeChat warned over failure to front parliament

Australian Government: Select Committee on Foreign Interference through Social Media

Financial Review: The other Chinese app banned by government departments

Twitter: @WeChatApp & its parent company @TencentGlobal has been repeatedly invited to appear before the Senate Select Committee on Foreign Interference Through Social Media, & repeatedly declined. Their refusal to engage with the parliament reflects very poorly.

July 12, 2023

Yellen the quiet part

How’s that US-China reset going? On Saturday, US Treasury Secretary Janet Yellen concluded two days of meetings with top Chinese leaders. ICYMI: Yellen’s visit follows US Secretary of State Anthony Blinken’s June trip, during which he chatted up Xi Jinping. While Yellen didn’t meet with Xi, she did…

How's that US-China reset going?
On Saturday, US Treasury Secretary Janet Yellen concluded two days of meetings with top Chinese leaders.
ICYMI: Yellen's visit follows US Secretary of State Anthony Blinken's June trip, during which he chatted up Xi Jinping.
While Yellen didn't meet with Xi, she did...

sources

NYT: China and the U.S., Still Adversaries, Are Talking. That’s a Start.

US Treasury: Remarks by Secretary of the Treasury Janet L. Yellen at Press Conference in Beijing, the People’s Republic of China

MoF: 财政部相关负责人就美财政部部长耶伦访华情况答媒体询问

July 11, 2023

Cracks in the iron price bowl

A pledge signed by electric vehicle makers to end the domestic price war violates competition laws. The deets: The pledge was formally issued last week via the China Association of Auto Manufacturers (CAAM), a government-approved industry association. Legal scholars have since said the passage on “…

A pledge signed by electric vehicle makers to end the domestic price war violates competition laws.
The deets:

The pledge was formally issued last week via the China Association of Auto Manufacturers (CAAM), a government-approved industry association.
Legal scholars have since said the passage on "...

sources

Dongchedi: 中汽协组织车企签署承诺书，为何涉嫌违反《反垄断法》？

July 11, 2023

Keep the lifeline rolling

Beijing is extending support to the debt-laden property sector. Some context: Last November, the central bank (PBoC) and the banking and insurance regulator (CBIRC) rolled out 16 measures to improve funding access for cash-strapped developers. The measures were designed to help developers finance a…

Beijing is extending support to the debt-laden property sector.
Some context: Last November, the central bank (PBoC) and the banking and insurance regulator (CBIRC) rolled out 16 measures to improve funding access for cash-strapped developers.

The measures were designed to help developers finance a...

sources

PBoC: 中国人民银行国家金融监督管理总局关于延长金融支持房地产市场平稳健康发展有关政策期限的通知

PBoC: 中国人民银行中国银行保险监督管理委员会关于做好当前金融支持房地产市场平稳健康发展工作的通知

July 11, 2023

Working hard, or hardly working?

China’s unemployment rate may remain permanently elevated. That’s according to Cai Fang – member of the central bank’s (PBoC) Monetary Policy Committee – in an interview published July 4 by the China Finance 40 Forum, a think tank. Some context: China’s youth unemployment rate hit 20.8% in May, the …

China’s unemployment rate may remain permanently elevated.
That’s according to Cai Fang – member of the central bank’s (PBoC) Monetary Policy Committee – in an interview published July 4 by the China Finance 40 Forum, a think tank.
Some context: China’s youth unemployment rate hit 20.8% in May, the ...

sources

China Finance 40 Forum: 人口负增长之后，中国经济的新冒险

July 11, 2023

Agree to disa-fee

Investing in China’s equity markets just got cheaper. On Monday, China’s largest mutual fund managers announced fee reductions across nearly 1,600 actively managed equity products. 19 funds reduced management and custodian fees to news caps of 1.2% and 0.2%, respectively, down from the CSRC’s previ…

Investing in China’s equity markets just got cheaper.
On Monday, China’s largest mutual fund managers announced fee reductions across nearly 1,600 actively managed equity products.

19 funds reduced management and custodian fees to news caps of 1.2% and 0.2%, respectively, down from the CSRC’s previ...

sources

Gov.cn: 证监会有关部门负责人就公募基金费率改革答记者问

Shanghai Securities News: 重磅！公募基金费率改革启动！一文看懂谁先降、怎么降

Caixin: 19家公募基金公告降费涉及近1600只产品

Morningstar: Morningstar Finds Investors Saved Nearly $6.9 Billion From Falling Fees in 2021

Tianfeng Securities: 天风·非银 | 以美为鉴，如何看待国内公募基金降费空间及演变节奏？

July 11, 2023

Not in the cards

Beijing won’t issue special treasury bonds (STBs) to pump the economy. That’s the message from the former finance minister, Lou Jiwei, in an interview with China Daily. Quick refresher: STBs are an off-budget device allowing Beijing to raise debt without it counting toward the official budget defici…

Beijing won't issue special treasury bonds (STBs) to pump the economy.
That's the message from the former finance minister, Lou Jiwei, in an interview with China Daily.
Quick refresher: STBs are an off-budget device allowing Beijing to raise debt without it counting toward the official budget defici...

sources

China Daily: 【独家】专访楼继伟：不应通过债务置换解决地方债风险建议增加1.5-2万亿元财政赤字

July 11, 2023

Woop-woop! That’s the sound of da police

Beijing just got a lot closer with its closest Pacific Islands ally. On Monday, Solomon Islands Prime Minister Manasseh Sogavare met Xi Jinping and Premier Li Qiang in Beijing. The big news: The two sides upgraded bilateral relations to a “comprehensive strategic partnership” – the category reserve…

Beijing just got a lot closer with its closest Pacific Islands ally.
On Monday, Solomon Islands Prime Minister Manasseh Sogavare met Xi Jinping and Premier Li Qiang in Beijing.
The big news: The two sides upgraded bilateral relations to a "comprehensive strategic partnership" – the category reserve...

sources

CGTN: Full text: Joint statement on establishing a comprehensive strategic partnership between China and Solomon Islands

Al-Jazeera: Solomon Islands calls for review of security pact with Australia

MoFA: 习近平会见所罗门群岛总理索加瓦雷

July 11, 2023

TAO’s Tao flouts shouts and touts (economic) clout

Beijing is using more carrot, and less stick, in its approach to Taiwan. Song Tao, head of the State Council’s Taiwan Affairs Office (TAO), spoke at the Zhejiang-Taiwan Cooperation Week on Thursday. His message: The mainland is awash in business opportunities (TAO): “The cross-strait industry chain…

Beijing is using more carrot, and less stick, in its approach to Taiwan.
Song Tao, head of the State Council’s Taiwan Affairs Office (TAO), spoke at the Zhejiang-Taiwan Cooperation Week on Thursday.
His message: The mainland is awash in business opportunities (TAO):

“The cross-strait industry chain...

sources

Taiwan Affairs Office: 宋涛出席2023浙江·台湾合作周并在浙江调研

July 11, 2023

Decoupling is dangerous

US-led decoupling from China will undermine the manufacturing industry. That was the warning from WTO Deputy Director-general Zhang Xiangchen in an interview published Friday (Caixin): “If the decoupling becomes severe and orders from major customers and for advanced products decrease…[China’s] man…

US-led decoupling from China will undermine the manufacturing industry.
That was the warning from WTO Deputy Director-general Zhang Xiangchen in an interview published Friday (Caixin):

"If the decoupling becomes severe and orders from major customers and for advanced products decrease…[China’s] man...

sources

Caixin: 专访WTO副总干事张向晨：美国市场及技术溢出效应不可放弃

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