string(13) "markets-macro"

Macro

July 7, 2023

Not if, but when

It’s only a matter of time before we’ll need to defend the motherland. That was commander-in-chief Xi Jinping’s message to the Eastern Theater Command troops on Thursday. ICYDK: Xi is inspecting Jiangsu province this week – including a visit to Nanjing, where the Eastern Theater Command is headquart… Username Password Remember Me Forgot… Read More »

It's only a matter of time before we'll need to defend the motherland.
That was commander-in-chief Xi Jinping’s message to the Eastern Theater Command troops on Thursday.
ICYDK: Xi is inspecting Jiangsu province this week – including a visit to Nanjing, where the Eastern Theater Command is headquart...

sources

Xinhua: 习近平在视察东部战区机关时强调锚定建军一百年奋斗目标努力开创战区建设和备战打仗工作新局面

July 7, 2023

Here come the perk police

Hey MNCs – those sweet deals from local governments could be coming to an end. On Wednesday, four ministries, including the market regulator (SAMR), the macro planner (NDRC), and the finance ministry, kicked off a new round of efforts to rein in local protectionism and build a more unified national…

Hey MNCs – those sweet deals from local governments could be coming to an end.
On Wednesday, four ministries, including the market regulator (SAMR), the macro planner (NDRC), and the finance ministry, kicked off a new round of efforts to rein in local protectionism and build a more unified national...

sources

SAMR: 市场监管总局等部门关于开展妨碍统一市场和公平竞争的政策措施清理工作的通知

July 7, 2023

On the road again

Xi Jinping touched down in Jiangsu province on Wednesday for his latest local tour. Fun fact: This is the fourth time Xi has paid an official visit to Jiangsu since he took over the Party in 2012. He also joined this year’s Two Sessions as an official member of the Jiangsu delegation. So far, we… Read More »

Xi Jinping touched down in Jiangsu province on Wednesday for his latest local tour.
Fun fact: This is the fourth time Xi has paid an official visit to Jiangsu since he took over the Party in 2012.

He also joined this year's Two Sessions as an official member of the Jiangsu delegation.

So far, we d...

sources

Gov.cn: 习近平在江苏南京市考察调研

Xinhua: 第一观察｜总书记到江苏考察释放鲜明信号

July 7, 2023

Fixing the economy – ideas please!

Preparations are underway for the crucial mid-year Politburo meeting that will set the course for H2 economic policy. On Thursday, Premier Li Qiang sat down for a symposium with a group of macroeconomic experts to solicit their views. Sound familiar? This may be Li’s first year as premier, b…

Preparations are underway for the crucial mid-year Politburo meeting that will set the course for H2 economic policy.
On Thursday, Premier Li Qiang sat down for a symposium with a group of macroeconomic experts to solicit their views.
Sound familiar? This may be Li's first year as premier, b...

sources

Gov.cn: 李强主持召开经济形势专家座谈会

July 7, 2023

Did somebody say ‘structural reform’?

Reviving China’s sluggish economy requires implementing long-overdue structural reforms. That was the message from Liu Shangxi, president of the Chinese Academy of Fiscal Sciences – a think tank attached to the finance ministry (MoF) – in a Q&A published Thursday. Liu is an influential voice. O…

Reviving China’s sluggish economy requires implementing long-overdue structural reforms.
That was the message from Liu Shangxi, president of the Chinese Academy of Fiscal Sciences – a think tank attached to the finance ministry (MoF) – in a Q&A published Thursday.
Liu is an influential voice.

O...

sources

Economists 50 Forum: 刘尚希：捂住钱袋子的倾向仍明显，复苏的关键是什么？

July 7, 2023

A minor cybersecurity makeover

Internet regulators are tightening control over the security of critical networks. On Monday, the CAC and MIIT updated the official list of network equipment and cybersecurity products that must undergo specialized review before they can be sold in China. Some context: Under the Cybersecurity Law, t…

Internet regulators are tightening control over the security of critical networks.
On Monday, the CAC and MIIT updated the official list of network equipment and cybersecurity products that must undergo specialized review before they can be sold in China.
Some context: Under the Cybersecurity Law, t...

sources

MIIT: 关于调整《网络关键设备和网络安全专用产品目录》的公告

CAC: 关于发布《网络关键设备和网络安全专用产品目录（第一批）》的公告

Digichina: Translation: Cybersecurity Law of the People’s Republic of China (Effective June 1, 2017)

July 7, 2023

Little money for little giants

Beijing is concerned that its innovative startups aren’t getting enough financial support. On Friday, the securities regulator (CSRC) called on 9 regional equity transfer centers in cities such as Beijing and Zhejiang to step up their financial services for innovative SMEs. Some context: Policymak…

Beijing is concerned that its innovative startups aren’t getting enough financial support.
On Friday, the securities regulator (CSRC) called on 9 regional equity transfer centers in cities such as Beijing and Zhejiang to step up their financial services for innovative SMEs.
Some context: Policymak...

sources

Caixin: 首批“专精特新”专板建设方案备案名单出炉

July 7, 2023

Feeling the heat

Sichuan province faces risks of major power gaps, which could cause havoc on the local economy. Provincial authorities sounded the alarm on June 29, amid ongoing drought and China’s fourth – yes, fourth – heatwave of the year. Extraordinarily high temperatures are driving up demand for air condition…

Sichuan province faces risks of major power gaps, which could cause havoc on the local economy.
Provincial authorities sounded the alarm on June 29, amid ongoing drought and China's fourth – yes, fourth – heatwave of the year.
Extraordinarily high temperatures are driving up demand for air condition...

sources

Caixin: 四川预计今夏电力供应缺口约750万千瓦

ScienceNet.cn: 国家气候中心：今年高温日数为1961年以来历史同期最多

July 7, 2023

Not just the consumers…

Consumers aren’t the only ones feeling pessimistic about the economy – bankers and entrepreneurs are pretty gloomy too. The central bank (PBoC) released its Q2 sentiment surveys for bankers and entrepreneurs on June 29. The entrepreneur survey data showed macroeconomic sentiment was bleak. The inde…

Consumers aren't the only ones feeling pessimistic about the economy – bankers and entrepreneurs are pretty gloomy too.
The central bank (PBoC) released its Q2 sentiment surveys for bankers and entrepreneurs on June 29.
The entrepreneur survey data showed macroeconomic sentiment was bleak.

The inde...

sources

PBoC: 2023 年第二季度企业家问卷调查报告

PBoC: 2023 年第二季度银行家问卷调查报告

July 7, 2023

Unmanageable

Banks just took another step that will potentially-maybe-possibly offer some support to the ailing RMB. Starting July 1, large banks began lowering the cap on China’s USD dollar deposits. This is primarily to discourage corporates – particularly exporters – from holding too many dollars. The deets…

Banks just took another step that will potentially-maybe-possibly offer some support to the ailing RMB.
Starting July 1, large banks began lowering the cap on China’s USD dollar deposits.

This is primarily to discourage corporates – particularly exporters – from holding too many dollars.

The deets...

sources

NBD: 最高2.8%！多家银行下调美元定期存款利率

Bloomberg: China Banks Cut Rates for $453 Billion Corporate Dollar Deposits

PBoC: 中国货币政策执行报告

July 7, 2023

Bringing home the bacon

Regulators will bulk purchase pork in response to a collapse in the price of live pigs. The macro planner (NDRC) announced the news on Monday. Some context: The hog-corn ratio – a key metric to assess the profitability of farming hog relative to the cost of feed (corn) – fell below 5:1 last week. …

Regulators will bulk purchase pork in response to a collapse in the price of live pigs.

The macro planner (NDRC) announced the news on Monday.

Some context: The hog-corn ratio – a key metric to assess the profitability of farming hog relative to the cost of feed (corn) – fell below 5:1 last week. ...

sources

Economic Daily: 生猪价格继续低位运行中国再启中央猪肉储备收储工作

Source:

July 6, 2023

That’s what Xi said

Turns out China’s “no limits partnership” with Russia… has some limits (FT): “Xi Jinping personally warned Vladimir Putin against using nuclear weapons in Ukraine…according to western and Chinese officials.” Xi delivered the message to Putin during his March visit to Russia. Xi’s tough love was mo…

Turns out China’s “no limits partnership” with Russia… has some limits (FT):

“Xi Jinping personally warned Vladimir Putin against using nuclear weapons in Ukraine…according to western and Chinese officials.”

Xi delivered the message to Putin during his March visit to Russia.
Xi’s tough love was mo...

sources

FT: Xi Jinping warned Vladimir Putin against nuclear attack in Ukraine

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