string(13) "markets-macro"

Macro

June 16, 2023

Entering the Shanghaiverse

Thought the metaverse craze got swept away by the AI boom, did you? Not if Shanghai has anything to say about it. On Tuesday, the Shanghai municipal government released a three-year action plan for metaverse technology research and development. The interesting bit: The plan intends to support met… Username Password Remember Me Forgot… Read More »

Thought the metaverse craze got swept away by the AI boom, did you?

Not if Shanghai has anything to say about it.

On Tuesday, the Shanghai municipal government released a three-year action plan for metaverse technology research and development.
The interesting bit: The plan intends to support met...

sources

Shanghai.gov: 上海市科学技术委员会关于印发《上海市“元宇宙”关键技术攻关行动方案（2023—2025年）》的通知

June 16, 2023

Splash your cash in China

Beijing continues its charm offensive with foreign businesses. On Wednesday, Jin Zhuanglong, Minister of Industry and Information Technology, met with Roland Busch, CEO of German ICT giant Siemens. Jin’s message is centered around one thing: Encouraging investment in China. “[We will] s…

Beijing continues its charm offensive with foreign businesses.
On Wednesday, Jin Zhuanglong, Minister of Industry and Information Technology, met with Roland Busch, CEO of German ICT giant Siemens.
Jin’s message is centered around one thing: Encouraging investment in China.

“[We will] s...

sources

MIIT: 金壮龙会见西门子公司董事会主席博乐仁

June 16, 2023

What’s de deal with De Minimis?

New bipartisan legislation proposes stripping Chinese e-commerce firms of “De Minimis” eligibility. Without naming names, the draft legislation targets Shein and Temu. Background: The De Minimis exemption is designed to lower US customs officials’ workload by providing easier customs cleara…

New bipartisan legislation proposes stripping Chinese e-commerce firms of “De Minimis" eligibility.

Without naming names, the draft legislation targets Shein and Temu.

Background: The De Minimis exemption is designed to lower US customs officials' workload by providing easier customs cleara...

sources

Source: How Trump’s Tariffs Are Creating Jobs — for Canadians

Source: U.S De Minimis China Imports Hit $188 Billion Last Year

Senate.gov: Cassidy, Baldwin Introduce Bill to Stop China from Taking Advantage of Lax U.S. Trade Laws

June 16, 2023

The Gates are open

The parade of foreign tech dignitaries to China gets its biggest star yet. This Friday, retired Microsoft co-founder Bill Gates will be personally received by Xi Jinping for an in-person meeting. Gates is the first major tech figure Xi has hosted for a one-on-one meeting with since Covid-19. Ba…

The parade of foreign tech dignitaries to China gets its biggest star yet.
This Friday, retired Microsoft co-founder Bill Gates will be personally received by Xi Jinping for an in-person meeting.

Gates is the first major tech figure Xi has hosted for a one-on-one meeting with since Covid-19.

Ba...

sources

Reuters: Bill Gates in China: Microsoft co-founder to meet Xi Jinping

June 15, 2023

A land war in China

It looks like the ag ministry (MARA) and the natural resources regulator (MNR) are in a turf war over…well…turf. On Tuesday, MNR issued a notice indicating it’s “strictly forbidden” to carry out “forced reclamation” of farmland, without strictly adhering to relevant laws and regulations that req…

It looks like the ag ministry (MARA) and the natural resources regulator (MNR) are in a turf war over...well...turf.
On Tuesday, MNR issued a notice indicating it's "strictly forbidden" to carry out "forced reclamation" of farmland, without strictly adhering to relevant laws and regulations that req...

sources

MNR: 自然资源部关于在经济发展用地要素保障工作中严守底线的通知

Caixin: 自然资源部：严禁不顾实际强行拔苗砍树、填坑平塘

June 15, 2023

Let us teach you about human rights

Xi Jinping has a thing or two to teach the world about human rights. On Wednesday, Beijing kickstarted its first global forum on human rights governance with a congratulatory letter from the main man touting China’s much criticized human rights stance (Xinhua): “In the process of promoting Chinese-…

Xi Jinping has a thing or two to teach the world about human rights.
On Wednesday, Beijing kickstarted its first global forum on human rights governance with a congratulatory letter from the main man touting China’s much criticized human rights stance (Xinhua):

“In the process of promoting Chinese-...

sources

Xinhua: 习近平向全球人权治理高端论坛致贺信

SCMP: Countries can follow ‘various paths’ on human rights, says Chinese President Xi Jinping

June 15, 2023

Easy as 1, 2, 3

Xi Jinping wants to sort out peace in the Middle East. On Wednesday, Xi met Palestinian Authority President Mahmoud Abbas in Beijing. Some context: In April, Foreign Minister Qin Gang said China was open to facilitating peace talks between Israel and Palestine. Xi expressed support for the Palestini…

Xi Jinping wants to sort out peace in the Middle East.
On Wednesday, Xi met Palestinian Authority President Mahmoud Abbas in Beijing.
Some context: In April, Foreign Minister Qin Gang said China was open to facilitating peace talks between Israel and Palestine.
Xi expressed support for the Palestini...

sources

MoFA: 习近平同巴勒斯坦总统阿巴斯举行会谈

SCMP: China’s Xi meets Palestinian leader Abbas, offers 3-point proposal for ‘lasting solution’ to conflict with Israel

June 15, 2023

A little less conversation, a little more action please

Foreign minister Qin Gang has read his American counterpart the riot act. On Wednesday, Qin held a call with US Secretary of State Antony Blinken. Some context: Blinken will travel to China this weekend to meet with Qin and other senior officials. Sign of the times: This will be the first visit to C…

Foreign minister Qin Gang has read his American counterpart the riot act.
On Wednesday, Qin held a call with US Secretary of State Antony Blinken.
Some context: Blinken will travel to China this weekend to meet with Qin and other senior officials.
Sign of the times: This will be the first visit to C...

sources

People's Daily: 秦刚同美国国务卿布林肯通电话

US State Department: Secretary of State Blinken Phone Call with PRC State Councilor and Foreign Minister Qin Gang

Reuters: US plays down chance of breakthrough from Blinken China visit after tense call

June 15, 2023

From bad to worse

The stats bureau (NBS) published the monthly econ data for May on Thursday. The headlines: Retail sales rose 12.7% y/y in May, down from 18.4% y/y growth in April. Fixed-asset investment (FAI) rose 1.6% y/y in May, compared with 3.6% y/y growth in April. Value-added output at industrial firms rose …

The stats bureau (NBS) published the monthly econ data for May on Thursday.
The headlines:

Retail sales rose 12.7% y/y in May, down from 18.4% y/y growth in April.
Fixed-asset investment (FAI) rose 1.6% y/y in May, compared with 3.6% y/y growth in April.
Value-added output at industrial firms rose ...

sources

NBS: 2023年5月份规模以上工业增加值增长3.5%

NBS: 2023年1—5月份全国固定资产投资增长4.0%

June 15, 2023

Snip, snip, snip

The central bank (PBoC) is lowering borrowing costs. The latest: On Thursday, the PBoC cut the rate on its one-year Medium-term Lending Facility (MLF) loans by 10 bps to 2.65% from 2.75%. Refresher: The PBoC uses the MLF to provide loans – typically from three months to one year – to commercial bank…

The central bank (PBoC) is lowering borrowing costs.
The latest: On Thursday, the PBoC cut the rate on its one-year Medium-term Lending Facility (MLF) loans by 10 bps to 2.65% from 2.75%.
Refresher: The PBoC uses the MLF to provide loans – typically from three months to one year – to commercial bank...

sources

PBoC: 公开市场业务交易公告 [2023]第116号

June 15, 2023

Till debts tear us apart

Local government debt problems are thwarting Beijing’s efforts to dismantle local protectionism. That’s according to an op-ed by researchers at Nankai University’s Competition Law Research Center, published Monday (Yicai). Some context: For decades, local governments have used protectionist barriers…

Local government debt problems are thwarting Beijing's efforts to dismantle local protectionism.
That’s according to an op-ed by researchers at Nankai University’s Competition Law Research Center, published Monday (Yicai).
Some context: For decades, local governments have used protectionist barriers...

sources

Yicai: 以招商引资公平竞争治理推动地方债化解︱法经兵言

June 15, 2023

Sell me baby one more time

Banks are slowly embracing a program that may boost secondhand home sales. On June 7, Economic Daily reported that 10 major banks in Beijing have begun processing transfer-with-mortgage applications, up from zero in March. Some context: Traditionally, Chinese homeowners had to repay their mortgages …

Banks are slowly embracing a program that may boost secondhand home sales.
On June 7, Economic Daily reported that 10 major banks in Beijing have begun processing transfer-with-mortgage applications, up from zero in March.
Some context: Traditionally, Chinese homeowners had to repay their mortgages ...

sources

Economic Daily: “带押过户”常态化重在协同

Xinhua: 我国将全面推进房产“带押过户”

21st Century Biz: 多地推行“带押过户”，为何接受度不高？

Gov.cn: 自然资源部中国银行保险监督管理委员会关于协同做好不动产“带押过户”便民利企服务的通知

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