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Macro

June 5, 2023

Culture Wars

Xi Jinping is drawing on Chinese history to unite the country around him. On Friday, Xi gave a speech about Chinese civilization at the Chinese Academy of History. Nothing like a bit of history to get us in the mood: China’s cultural and historical roots are powerful tools in whipping up nationalis… Username Password Remember… Read More »

China’s cultural and historical roots are powerful tools in whipping up nationalis...

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news.cn: 习近平在文化传承发展座谈会上强调担负起新的文化使命努力建设中华民族现代文明

Gov.cn: Xi stresses building modern Chinese civilization

June 5, 2023

Li Hui’s postgame review

On Friday, Li Hui, China’s special representative for Eurasian affairs, discussed the results of his 12-day Eurotrip aimed at brokering peace in Ukraine. Apparently, everyone REALLY appreciates China’s efforts (Cailianshe): “[A]ll parties have given positive evaluations of China’s efforts and hope …

On Friday, Li Hui, China’s special representative for Eurasian affairs, discussed the results of his 12-day Eurotrip aimed at brokering peace in Ukraine.
Apparently, everyone REALLY appreciates China’s efforts (Cailianshe):

“[A]ll parties have given positive evaluations of China’s efforts and hope ...

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Cailianshe: 李辉大使介绍赴乌克兰、俄罗斯等五国访问细节

Reuters: China weighs next Ukraine peace mission after first yields little progress

June 5, 2023

Secret Asia man

Signals abound that Washington is angling for a reset with Beijing. Last month Bill Burns, director of the US Central Intelligence Agency (CIA), made a secret trip to China to meet with his intelligence counterparts (FT). Per one unnamed official, the goal of the trip was to: “Emphasize…the impo…

Signals abound that Washington is angling for a reset with Beijing.
Last month Bill Burns, director of the US Central Intelligence Agency (CIA), made a secret trip to China to meet with his intelligence counterparts (FT).
Per one unnamed official, the goal of the trip was to:

"Emphasize...the impo...

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Financial Times: CIA chief made secret trip to China in bid to thaw relations

US Treasury: READOUT: Under Secretary for International Affairs Jay Shambaugh’s Meeting with the Appointed Ambassador from the People’s Republic of China Xie Feng

June 5, 2023

More of the same

Things are okay – and we’re about to make them even better! That was Premier Li Qiang’s message to businesses when speaking at Friday’s State Council executive meeting. The premier’s assessment of the economy echoed the Politburo’s at its April meeting on the economy: “The economy got off to a go…

Things are okay – and we're about to make them even better!

That was Premier Li Qiang's message to businesses when speaking at Friday’s State Council executive meeting.

The premier’s assessment of the economy echoed the Politburo's at its April meeting on the economy:

“The economy got off to a go...

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Gov.cn: 李强主持召开国务院常务会议听取优化营商环境工作进展及下一步重点举措汇报等

June 5, 2023

Passing (on) the buck

Beijing’s going all in on its latest new energy vehicle (NEV) drive. Premier Li Qiang devoted a big chunk of Friday’s State Council meeting to NEVs and the need to support market growth. Per the readout (Gov.cn): China’s economic recovery remains sluggish. Faster growth requires stronger support f…

Beijing's going all in on its latest new energy vehicle (NEV) drive.
Premier Li Qiang devoted a big chunk of Friday's State Council meeting to NEVs and the need to support market growth.
Per the readout (Gov.cn):

China's economic recovery remains sluggish.
Faster growth requires stronger support f...

sources

Gov.cn: 李强主持召开国务院常务会议听取优化营商环境工作进展及下一步重点举措汇报等

June 5, 2023

Dire straits

Beijing is preparing to give the moribund housing market another shot in the arm. That’s according to a Bloomberg report on Friday. Some context: There were signs in February and March that housing demand was picking up, but the recovery has since petered out. Regulators are reportedly considerin…

Beijing is preparing to give the moribund housing market another shot in the arm.

That's according to a Bloomberg report on Friday.

Some context: There were signs in February and March that housing demand was picking up, but the recovery has since petered out.
Regulators are reportedly considerin...

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Bloomberg: China Mulls New Property Support Package to Boost Economy

June 5, 2023

Speeding it up

Local governments continue to frontload special-purpose bond (SPB) issuance. The Fujian provincial government plans to finish issuing its entire 2023 SPB quota in the first half of June (21 Century Biz). Some context: Each year, the finance ministry (MoF) sets a quota of SPBs that local governments …

Local governments continue to frontload special-purpose bond (SPB) issuance.
The Fujian provincial government plans to finish issuing its entire 2023 SPB quota in the first half of June (21 Century Biz).
Some context: Each year, the finance ministry (MoF) sets a quota of SPBs that local governments ...

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21st Century Biz: 福建省财政厅：第二批地方债额度争取6月上旬全部发完

June 5, 2023

The pain in grain caused mainly by the rain

Officials are rushing to rescue China’s waterlogged wheat crop – most of which was hit by torrential rains last week, just as harvest season arrived. On Tuesday, The Ministry of Agriculture and Rural Affairs (MARA) ordered provinces to: Dispatch emergency teams to help drain fields Mobilize harves…

Officials are rushing to rescue China's waterlogged wheat crop – most of which was hit by torrential rains last week, just as harvest season arrived.
On Tuesday, The Ministry of Agriculture and Rural Affairs (MARA) ordered provinces to:

Dispatch emergency teams to help drain fields
Mobilize harves...

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MARA: 农业农村部再次部署安排“三夏”生产工作应对持续阴雨天气及时抓好小麦抢收烘干晾晒

Henan.gov: 河南省财政紧急下拨2亿元专项用于小麦烘干

Reuters: 'Granary of China' braces for more wheat-damaging rain

June 3, 2023

Don’t twist my Arm

Will Arm finally resolve the mess with its China joint venture? On Thursday, Arm CEO Rene Haas met with Zhang Guangjun, Vice Minister of Science and Technology (MoST). ICYDK: Arm has a China JV called Arm China – which serves as an important conduit for selling Arm’s licenses to Chinese chip compani…

Will Arm finally resolve the mess with its China joint venture?
On Thursday, Arm CEO Rene Haas met with Zhang Guangjun, Vice Minister of Science and Technology (MoST).
ICYDK: Arm has a China JV called Arm China – which serves as an important conduit for selling Arm’s licenses to Chinese chip compani...

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Ministry of Science and Technology: 张广军副部长会见安谋公司首席执行官雷内·哈斯

FT: Beijing calls on Arm to intensify chip co-operation with Chinese companies

June 3, 2023

National security is in China’s DNA

MoST is making sure Chinese DNA stays in Chinese hands. On Thursday, the Ministry of Science and Technology (MoST) finalized implementing rules for China’s Human Genetic Resources Regulations. Some context: The regulations, passed in 2019, govern who can handle the genetic information of Chinese cit…

MoST is making sure Chinese DNA stays in Chinese hands.
On Thursday, the Ministry of Science and Technology (MoST) finalized implementing rules for China’s Human Genetic Resources Regulations.
Some context: The regulations, passed in 2019, govern who can handle the genetic information of Chinese cit...

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Ministry of Science and Technology: 科学技术部令第21号人类遗传资源管理条例实施细则

Ministry of Science and Technology: 中华人民共和国国务院令

Ministry of Science and Technology: 科学技术部关于公开征求《人类遗传资源管理条例实施细则（征求意见稿）》意见的通知

Nature: China expands control over genetic data used in scientific research

June 3, 2023

Put your money where your innovation is

The state is pushing central enterprises to contribute cold, hard cash to China’s sci-tech innovation drive. On Thursday, head of China’s SOE administrator (SASAC) Zhang Yuzhou met with Dou Xiankang, director of the National Natural Science Foundation of China (NSFC). The key topic of discussion: E…

The state is pushing central enterprises to contribute cold, hard cash to China's sci-tech innovation drive.
On Thursday, head of China's SOE administrator (SASAC) Zhang Yuzhou met with Dou Xiankang, director of the National Natural Science Foundation of China (NSFC).
The key topic of discussion: E...

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Yicai: 国务院国资委、国家自然科学基金委举行工作会商

Bulletin of the National Natural Science Foundation of China: 国家自然科学基金联合基金项目管理办法

June 3, 2023

I know when that CAC ring, it can only mean one thing

On Thursday, China’s internet watchdog (CAC) met with companies to discuss building a better business environment in cyberspace. Background: Back in March, the CAC expressed concern that negative and slanderous content about companies circulating online is violating the “legal rights and interests o…

On Thursday, China's internet watchdog (CAC) met with companies to discuss building a better business environment in cyberspace.
Background: Back in March, the CAC expressed concern that negative and slanderous content about companies circulating online is violating the “legal rights and interests o...

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CAC: 中央网信办召开优化营商网络环境企业座谈会

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