string(13) "markets-macro"

Macro

June 8, 2023

Clearing the corridor

China is working with its neighbors to fight terror. On Wednesday, Bai Tian, director-general of the foreign ministry’s external security department, hosted delegations from Pakistan and Iran for the first trilateral counterterrorism talks between the three countries. The ministry readout was short … Username Password Remember Me Forgot Password

China is working with its neighbors to fight terror.
On Wednesday, Bai Tian, director-general of the foreign ministry’s external security department, hosted delegations from Pakistan and Iran for the first trilateral counterterrorism talks between the three countries.
The ministry readout was short ...

sources

MoFA: 首次中国—巴基斯坦—伊朗三方反恐安全磋商在北京举行

June 8, 2023

RCEPie for success

It’s official – the Regional Comprehensive Economic Partnership (RCEP) is finally in full effect. On June 2, the last of the 15 signatories (the Philippines) got RCEP up and running. ICYDK: RCEP is the world’s biggest free trade deal. It links China with Japan, South Korea, Australia, New Zealand…

It's official – the Regional Comprehensive Economic Partnership (RCEP) is finally in full effect.

On June 2, the last of the 15 signatories (the Philippines) got RCEP up and running.

ICYDK: RCEP is the world's biggest free trade deal. It links China with Japan, South Korea, Australia, New Zealand...

sources

MofCom: 商务部国际司负责人就《区域全面经济伙伴关系协定》（RCEP）对所有签署国全面生效答记者问

June 8, 2023

The CAC’s AirDrop bombshell

China’s online censorship apparatus is expanding to new territory. On Tuesday, the cyberspace regulator (CAC) published draft regulations on “short-range ad hoc network” services powered by tech like Bluetooth and WiFi. Essentially that means Apple AirDrop and equivalent near-field file-sharing ser…

China’s online censorship apparatus is expanding to new territory.
On Tuesday, the cyberspace regulator (CAC) published draft regulations on “short-range ad hoc network” services powered by tech like Bluetooth and WiFi.

Essentially that means Apple AirDrop and equivalent near-field file-sharing ser...

sources

CAC: 国家互联网信息办公室关于《近距离自组网信息服务管理规定（征求意见稿）》公开征求意见的通知

Bloomberg: Apple Limits iPhone File-Sharing Tool Used for Protests in China

NYT: Censorship, Surveillance and Profits: A Hard Bargain for Apple in China

June 8, 2023

Gathering in Shanghai

The annual Lujiazui financial forum kicked off in Shanghai on Thursday. It’s quite a party: The two-day event is jointly hosted by the Shanghai government, the central bank (PBoC), the new central financial regulator (NFRA), and the securities regulator (CSRC). NFRA head Li Yunze and Shanghai Mayor…

The annual Lujiazui financial forum kicked off in Shanghai on Thursday.
It's quite a party: The two-day event is jointly hosted by the Shanghai government, the central bank (PBoC), the new central financial regulator (NFRA), and the securities regulator (CSRC).

NFRA head Li Yunze and Shanghai Mayor...

sources

The Paper: 陆家嘴论坛今日开幕，关注经济复苏新动力（附最新议程）

The Paper: 李云泽：要坚决消除监管空白和盲区，强化央地监管协同

21st Century Biz: 国家金融监督管理总局：从五方面发力，推动金融高质量发展

June 8, 2023

Volati-Li-ty unending

On Monday, average domestic battery-grade lithium carbonate prices hit RMB 308,500/metric ton. That’s up 87.0% from the year-to-date low of RMB 165,000/metric ton in late April. ICYMI: The lithium price saga has been ongoing since last fall. Prices hit nearly RMB 600,000/metric ton in November be…

On Monday, average domestic battery-grade lithium carbonate prices hit RMB 308,500/metric ton.

That's up 87.0% from the year-to-date low of RMB 165,000/metric ton in late April.

ICYMI: The lithium price saga has been ongoing since last fall.

Prices hit nearly RMB 600,000/metric ton in November be...

sources

CN Energy: 电池级碳酸锂价格重回30万元/吨

June 8, 2023

Way too much of a good thing

China’s solar PV manufacturers are expanding production, despite industry-wide overcapacity. On Tuesday, industry behemoth Tongwei – the world’s largest producer of upstream polysilicon and midstream solar cells – announced plans for a massive new manufacturing plant in Chengdu. The project w…

China’s solar PV manufacturers are expanding production, despite industry-wide overcapacity.
On Tuesday, industry behemoth Tongwei – the world’s largest producer of upstream polysilicon and midstream solar cells – announced plans for a massive new manufacturing plant in Chengdu.

The project w...

sources

STCN: 狂砸百亿扩产！两大千亿光伏龙头同日宣布

Shanghai Securities News: 56GW！晶科能源全球最大N型一体化基地落户山西

June 8, 2023

A dollar dilemma

We think Beijing’s concerned about the yuan’s decline against the dollar. Why’s that? China’s big four banks have cut interest rates on USD deposits (Bloomberg). The deets: Bloomberg said that the banks recently lowered the ceiling on US deposits, which is set at a spread above the US Secured Overni…

We think Beijing's concerned about the yuan’s decline against the dollar.
Why's that? China’s big four banks have cut interest rates on USD deposits (Bloomberg).
The deets: Bloomberg said that the banks recently lowered the ceiling on US deposits, which is set at a spread above the US Secured Overni...

sources

Bloomberg: China Big Four State Banks Said to Cut Dollar Deposit Rates

Daily Economic News: 大行存款利率再迎下调！有银行一年期美元存款利率封顶4.3%，有银行人民币存款利率预计也将小幅调降

June 8, 2023

Wait and see and wait

The property market’s recovery is on track – so everyone should just chill out and be patient. That was the message from the Economic Daily – a newspaper published by the State Council – in a commentary on Tuesday. Some context: Housing sales picked up in February and March, fueling optimism that de…

The property market's recovery is on track – so everyone should just chill out and be patient.
That was the message from the Economic Daily – a newspaper published by the State Council – in a commentary on Tuesday.
Some context: Housing sales picked up in February and March, fueling optimism that de...

sources

Economic Daily: 房地产市场企稳还需一些耐心

June 8, 2023

Quick Take | AirDrop that bomb

China’s online censorship apparatus is about to expand to new territory. On Tuesday, the cyberspace regulator (CAC) published draft regulations on “short-range ad hoc network” services that are powered by tech like Bluetooth and WiFi. Translation: That means these regulations target technologies lik…

China’s online censorship apparatus is about to expand to new territory.
On Tuesday, the cyberspace regulator (CAC) published draft regulations on “short-range ad hoc network” services that are powered by tech like Bluetooth and WiFi.
Translation: That means these regulations target technologies lik...

sources

CAC: 国家互联网信息办公室关于《近距离自组网信息服务管理规定（征求意见稿）》公开征求意见的通知

Bloomberg: Apple Limits iPhone File-Sharing Tool Used for Protests in China

NYT: Censorship, Surveillance and Profits: A Hard Bargain for Apple in China

June 8, 2023

Less Darude, more Oasis

Fighting back the desert is crucial to China’s ecological security. That was the message from Xi Jinping during his trip to Inner Mongolia on Monday and Tuesday. Some context: Desertification in northern China has long contributed to sandstorms in Beijing. Begun in 1978, the “Great Green Wall” affo…

Fighting back the desert is crucial to China’s ecological security.
That was the message from Xi Jinping during his trip to Inner Mongolia on Monday and Tuesday.
Some context: Desertification in northern China has long contributed to sandstorms in Beijing.

Begun in 1978, the “Great Green Wall” affo...

sources

Gov.cn: 习近平在内蒙古巴彦淖尔考察并主持召开加强荒漠化综合防治和推进“三北”等重点生态工程建设座谈会

June 8, 2023

With Freunds like these

China is going all out to win over Germany. On Monday, Premier Li Qiang met a delegation led by Lars Klingbeil, co-leader of Germany’s Social Democratic Party (SPD). ICYMI: In recent months, Chinese leaders have spared no effort to promote Sino-European cooperation. Li stayed on that message (Gov.cn…

China is going all out to win over Germany.
On Monday, Premier Li Qiang met a delegation led by Lars Klingbeil, co-leader of Germany's Social Democratic Party (SPD).
ICYMI: In recent months, Chinese leaders have spared no effort to promote Sino-European cooperation.
Li stayed on that message (Gov.cn...

sources

Gov.cn: Chinese premier meets with German Social Democratic Party delegation

June 8, 2023

Policymakers get cracking

Central government agencies will craft multiple new rules and regulations in 2023 – several of which will impact China’s business environment. How do we know? Well, the State Council’s annual legislative plan was released on Tuesday, indicating that (Gov.cn): Ministries will work on 17 draft laws a…

Central government agencies will craft multiple new rules and regulations in 2023 – several of which will impact China's business environment.
How do we know? Well, the State Council's annual legislative plan was released on Tuesday, indicating that (Gov.cn):

Ministries will work on 17 draft laws a...

sources

Gov.cn: 国务院办公厅关于印发国务院2023年度立法工作计划的通知

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