string(13) "markets-macro"

Macro

June 26, 2023

Mon ami, Li

Premier Li Qiang is making the case for Franco-Chinese cooperation. On Thursday, Li met French President Emmanuel Macron at the Élysée Palace. ICYMI: Li is on a two-country Eurotrip, his first foreign foray as premier. Last week, he met with German Chancellor Olaf Scholz. Li’s visit comes on the b… Username Password Remember Me … Read More »

Last week, he met with German Chancellor Olaf Scholz.

Li's visit comes on the b...

sources

MoFA: 李强会见法国总统马克龙

MoFA: Li Qiang Meets with French President Emmanuel Macron

June 26, 2023

La Li en rose

Premier Li Qiang is not down with Europe’s “de-risking” strategy. On Wednesday, Li addressed a banquet attended by French and Chinese business leaders as well as French Economy Minister Bruno Le Maire. Li warned his audience not to sacrifice prosperity at the altar of security (Politico): “Recently…

Premier Li Qiang is not down with Europe's "de-risking" strategy.
On Wednesday, Li addressed a banquet attended by French and Chinese business leaders as well as French Economy Minister Bruno Le Maire.
Li warned his audience not to sacrifice prosperity at the altar of security (Politico):

“Recently...

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Politico: Politico: Chinese PM hits back at EU call for de-risking

European Commission: An EU approach to enhance economic security

June 26, 2023

One coup over the cuckoo’s next

China is treading lightly around Russia’s domestic instability. On Sunday, Foreign Minister Qin Gang met Russian Deputy Foreign Minister Andrei Rudenko. ICYMI: On Friday, Yevgeny Prigozhin – the commander of the Wagner Group, the mercenary army helping to prosecute Russia’s war in Ukraine – launched…

China is treading lightly around Russia’s domestic instability.
On Sunday, Foreign Minister Qin Gang met Russian Deputy Foreign Minister Andrei Rudenko.
ICYMI: On Friday, Yevgeny Prigozhin – the commander of the Wagner Group, the mercenary army helping to prosecute Russia's war in Ukraine – launched...

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MoFA: 秦刚会见俄罗斯副外长鲁登科

MoFA: Foreign Ministry Spokesperson’s Remarks on the Wagner Group Incident

June 26, 2023

Render unto Xi-sar

China wants religion to help the Party promote its policies. On Wednesday, Wang Huning, the head of the political advisory body (CPPCC) and China’s fourth-ranked official, delivered a speech on religious work to national and local-level propaganda officials. ICYDK: The Communist Party is officially …

China wants religion to help the Party promote its policies.
On Wednesday, Wang Huning, the head of the political advisory body (CPPCC) and China's fourth-ranked official, delivered a speech on religious work to national and local-level propaganda officials.
ICYDK: The Communist Party is officially ...

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People's Daily: 习近平总书记关于宗教工作的重要论述研讨会举行

People's Daily: China's top political advisor stresses heightened sense of responsibility in handling religious work

June 26, 2023

How to tame your dragon

The post-zero-COVID consumption revival is fizzling out. The latest exhibit: Tourism data from the three-day Dragon Boat Festival holiday (June 22-24). The headline: Compared with the same holiday in pre-pandemic 2019, more people were out and about, but they spent less (Caixin 1). Ministry of Cultu…

The post-zero-COVID consumption revival is fizzling out.
The latest exhibit: Tourism data from the three-day Dragon Boat Festival holiday (June 22-24).
The headline: Compared with the same holiday in pre-pandemic 2019, more people were out and about, but they spent less (Caixin 1).
Ministry of Cultu...

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Caixin: 端午客运量不及疫情前八成恢复程度弱于五一

Caixin: 端午旅游消费降级近九成游客参与文化类活动

June 26, 2023

The tax break that never dies

Beijing is reupping its support for the new energy vehicle (NEV) industry. The government announced Wednesday that purchase tax breaks on NEVs are being extended until end-2027. The tax exemption – originally instituted in 2014 – was due to expire at the end of 2023, following extensions in 2017, 2…

Beijing is reupping its support for the new energy vehicle (NEV) industry.
The government announced Wednesday that purchase tax breaks on NEVs are being extended until end-2027.

The tax exemption – originally instituted in 2014 – was due to expire at the end of 2023, following extensions in 2017, 2...

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Gov.cn: 新能源汽车车辆购置税减免政策延长至2027年年底

June 26, 2023

Yeah I’m free, free fallin’

Massive overcapacity is driving prices of upstream polysilicon – the key raw material for solar panels – into the ground. The slump is part of a growing trend across the entire solar industry. ICYMI: Capacity shortages drove average polysilicon prices up nearly 500% from their low in late 2020 to …

Massive overcapacity is driving prices of upstream polysilicon – the key raw material for solar panels – into the ground.

The slump is part of a growing trend across the entire solar industry.

ICYMI: Capacity shortages drove average polysilicon prices up nearly 500% from their low in late 2020 to ...

sources

BJX: 15连跌！多晶持续走跌（2023.6.21）

June 26, 2023

Liu hands on deck

Recently retired econ czar Liu He isn’t finished yet. The SCMP says it’s spoken to five sources claiming that Liu remains highly influential and “regularly attends internal meetings on economic affairs.” According to one SCMP source, Liu: “Has been asked to give input on key issues on domestic econ…

Recently retired econ czar Liu He isn’t finished yet.
The SCMP says it's spoken to five sources claiming that Liu remains highly influential and "regularly attends internal meetings on economic affairs."
According to one SCMP source, Liu:

"Has been asked to give input on key issues on domestic econ...

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SCMP: exclusive | Elder Liu He remains China’s economic guide, including on US strategy

June 26, 2023

Moral crusaders

The fight against corruption at China’s largest policy bank, China Development Bank (CDB), is far from over. That was the warning from the Party’s anti-graft watchdog (CCDI) in a damning recent indictment of the CDB’s “rampant” corruption over the past decade. ICYDK: The CDB is the largest of Chin…

The fight against corruption at China's largest policy bank, China Development Bank (CDB), is far from over.
That was the warning from the Party's anti-graft watchdog (CCDI) in a damning recent indictment of the CDB's "rampant" corruption over the past decade.
ICYDK: The CDB is the largest of Chin...

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CCDI: 国开行:开展专题会商综合检视分析腐败案件

Caixin: 中央纪委剖析国开行腐败原因：内部管理粗放、企业文化落后

June 26, 2023

More speculation, please

A senior economic advisor has called for allowing speculators back into the property market to help revive demand. According to Yin Yanlin, deputy director of the national advisory body’s (CPPCC) economics committee: “Restrictive policies introduced during the real estate speculation boom must be w…

A senior economic advisor has called for allowing speculators back into the property market to help revive demand.
According to Yin Yanlin, deputy director of the national advisory body's (CPPCC) economics committee:

“Restrictive policies introduced during the real estate speculation boom must be w...

sources

Tencent: 中财办原副主任尹艳林谈房地产问题实录：可能引发系统性金融风险

June 22, 2023

Picking up scraps

Nvidia’s AI chips – which are subject to US export controls – have found their way into local electronics markets in Shenzhen (Reuters). Some context: Washington explicitly banned Nvidia from selling its top-tier AI chips – such as A100 and H100 – to China. Shortage of those chips could significa…

Nvidia’s AI chips – which are subject to US export controls – have found their way into local electronics markets in Shenzhen (Reuters).
Some context: Washington explicitly banned Nvidia from selling its top-tier AI chips – such as A100 and H100 – to China.

Shortage of those chips could significa...

sources

Reuters: Inside China's underground market for high-end Nvidia AI chips

June 22, 2023

More algos have been filed

What would you do with a list of all algorithms? On Tuesday, the CAC released the first batch of “deep synthesis” algorithm filing documentation. Quick recap: In March 2022, the CAC began enforcing landmark algorithm regulations, mainly governing “recommendation engines” that do things like so…

What would you do with a list of all algorithms?
On Tuesday, the CAC released the first batch of “deep synthesis” algorithm filing documentation.
Quick recap: In March 2022, the CAC began enforcing landmark algorithm regulations, mainly governing “recommendation engines” that do things like so...

sources

CAC: 国家互联网信息办公室关于发布深度合成服务算法备案信息的公告

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