string(13) "markets-macro"

Macro

May 31, 2023

No more delays

Property developers are increasingly unable to pay their bills. On May 25, Caixin reported that a local construction supplier has applied to a Chongqing court for a bankruptcy reorganization of Jinke Property Group. In a filing to the Shenzhen Stock Exchange, Jinke admitted it had repeatedly failed… Username Password Remember Me Forgot Password

In a filing to the Shenzhen Stock Exchange, Jinke admitted it had repeatedly failed...

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Caixin: “西南王”金科面值退市压力陡增昔日千亿房企今为保壳重整

Shenzhen Stock Exchange: 金科地产集团股份有限公司关于公司被债权人申请重整的提示性公告

Shenzhen Stock Exchange: 金科地产集团股份有限公司关于公司债务情况的公告

May 31, 2023

Frontloading

China’s local governments have been issuing special-purpose bonds (SPB) at a faster pace than last year. From January to April, local authorities issued RMB 1.62 trillion worth of SPBs, a 15.7% increase from 2022 levels. Some context: Each year the finance ministry (MoF) sets a quota of SPBs that lo…

China’s local governments have been issuing special-purpose bonds (SPB) at a faster pace than last year.
From January to April, local authorities issued RMB 1.62 trillion worth of SPBs, a 15.7% increase from 2022 levels.
Some context: Each year the finance ministry (MoF) sets a quota of SPBs that lo...

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NBD: 前四月新增专项债已发行超1.6万亿元，逾六成投向基建

May 31, 2023

Xi don’t want no cooking

Xi Jinping may personally be behind the crackdown on statistical fraud. Zhifu District, in Shandong province, quoted Xi Jinping during a study session on the campaign as saying: “Statistical fraud does not only mislead decision-making, but also damages [government’s] credibility. It is extrem…

Xi Jinping may personally be behind the crackdown on statistical fraud.
Zhifu District, in Shandong province, quoted Xi Jinping during a study session on the campaign as saying:

“Statistical fraud does not only mislead decision-making, but also damages [government’s] credibility. It is extrem...

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Gov.cn: 【议题解读】传达学习《习近平总书记重要批示和国家、省、市统计局统计造假屡禁难绝专项治理行动动员部署会议精神》

May 31, 2023

You want laws? We got laws

China’s legislators have another busy year ahead. On Monday, the national legislature (NPCSC) finally released the 2023 national legislative plan. ICYDK: The NPCSC issues the plan for the year every April or May. What’s on the docket this time? 35 legislative items are up for review – slightly …

China's legislators have another busy year ahead.
On Monday, the national legislature (NPCSC) finally released the 2023 national legislative plan.
ICYDK: The NPCSC issues the plan for the year every April or May.
What's on the docket this time? 35 legislative items are up for review – slightly ...

sources

NPC: 全国人大常委会2023年度立法工作计划

May 31, 2023

Mr. Musk walks a slightly faded red carpet

Elon Musk is in China on a charm offensive. On Tuesday, Musk landed in Beijing for meetings with top business and political figures. Background: Musk’s last China visit in 2019 was a star-studded affair at Zhongnanhai (SCMP). He met Xi Jinping’s then-number-two Li Keqiang – who was so enthused he…

Elon Musk is in China on a charm offensive.
On Tuesday, Musk landed in Beijing for meetings with top business and political figures.
Background: Musk's last China visit in 2019 was a star-studded affair at Zhongnanhai (SCMP).

He met Xi Jinping's then-number-two Li Keqiang – who was so enthused he...

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SCMP: Tesla boss Elon Musk says he loves China, so Premier Li Keqiang offers him a green card

Forbes: Elon Musk Visits China Amid Rising Geopolitical Tensions

MoFA: 秦刚会见特斯拉首席执行官马斯克

May 31, 2023

Everything’s a nail

Xi Jinping is back hammering the importance of national security. The latest: On Monday, Xi gave his assessment of China’s security situation at the first meeting of the Party’s Central National Security Commission (CNSC) since October. TL;DR: Stuff’s bad, so it’s lucky the Party’s in charge. Xi sai…

Xi Jinping is back hammering the importance of national security.
The latest: On Monday, Xi gave his assessment of China's security situation at the first meeting of the Party’s Central National Security Commission (CNSC) since October.
TL;DR: Stuff’s bad, so it’s lucky the Party’s in charge.
Xi sai...

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Gov.cn: 习近平主持召开二十届中央国家安全委员会第一次会议

May 31, 2023

Get down with the youth

The Party wants to engage better with young people. On Tuesday, Zhejiang province’s Party propaganda department published an article celebrating the first anniversary of its popular WeChat account. Making a difference: The account tries to appeal to youth by adopting more down-to-earth language with…

The Party wants to engage better with young people.
On Tuesday, Zhejiang province's Party propaganda department published an article celebrating the first anniversary of its popular WeChat account.
Making a difference: The account tries to appeal to youth by adopting more down-to-earth language with...

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Zhejiang Propaganda WeChat Account: 一周岁了，我们想对你说

Caixin: “70后”浙江宣传部长王纲履新中宣部副部长

May 31, 2023

Can’t blame a guy for trying

Li Hui has reached the final stop on his Eurotrip for peace. On Friday, China’s special representative for Eurasian affairs arrived in Moscow for talks with Russian Foreign Minister Sergei Lavrov. Some context: Other European leaders have told Li that peace will only be achieved after Russia withdra…

Li Hui has reached the final stop on his Eurotrip for peace.
On Friday, China’s special representative for Eurasian affairs arrived in Moscow for talks with Russian Foreign Minister Sergei Lavrov.
Some context: Other European leaders have told Li that peace will only be achieved after Russia withdra...

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MoFA: 中国政府欧亚事务特别代表李辉同俄罗斯外长拉夫罗夫等举行会见会谈

Moscow Times: Russia's Lavrov Tells China Envoy 'Serious Obstacles' to Ukraine Peace

May 31, 2023

Taking a position

On Monday, the Ministry of Foreign Affairs (MofA) issued “China’s Positions on Global Digital Governance”. The document is China’s contribution to the UN’s “Global Digital Compact”. (UN.org) The deets: The document outlines China’s big picture principles for global internet governance. That includ…

On Monday, the Ministry of Foreign Affairs (MofA) issued “China’s Positions on Global Digital Governance”.

The document is China's contribution to the UN's "Global Digital Compact". (UN.org)

The deets: The document outlines China's big picture principles for global internet governance. That includ...

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MoFA: China releases Positions on Global Digital Governance

un.org: Global Digital Compact

May 31, 2023

Tianjin’s on cloud (computing) nine

Local governments are hooked on Alibaba’s cloud division. On Monday, Tianjin Party boss Chen Min’er met with Alibaba CEO Daniel Zhang to discuss cooperation between Alibaba and Tianjin. Background: Over the last several months, Alibaba has been signing on to help multiple local governments strengt…

Local governments are hooked on Alibaba's cloud division.
On Monday, Tianjin Party boss Chen Min'er met with Alibaba CEO Daniel Zhang to discuss cooperation between Alibaba and Tianjin.
Background: Over the last several months, Alibaba has been signing on to help multiple local governments strengt...

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Sina: 天津市委书记陈敏尔与阿里巴巴集团董事会主席张勇座谈

May 31, 2023

Keeping the door open

On Monday, the Ministry of Industry and Information Technology (MIIT) listed out the requirements that chip companies need to meet if they want to score sweet state subsidies for 2023. Here’s the deal: Once qualified, companies will enjoy an additional 15% tax deduction from their value-added …

On Monday, the Ministry of Industry and Information Technology (MIIT) listed out the requirements that chip companies need to meet if they want to score sweet state subsidies for 2023.
Here's the deal: Once qualified, companies will enjoy an additional 15% tax deduction from their value-added ...

sources

MIIT: 公开征求对《关于2023年度享受增值税加计抵减政策的集成电路企业清单制定工作有关要求的通知》的意见

May 31, 2023

APEC-uliar statement

“We’re pretty annoyed by Japan’s new chip export controls.” That’s what Wang Wentao, China’s Minister of Commerce, had to say after his sit-down with his Japanese counterpart, Yasutoshi Nishimura, at the Asia-Pacific Economic Cooperation (APEC) conference in Detroit on Friday. Some context: Last we…

"We’re pretty annoyed by Japan’s new chip export controls."
That's what Wang Wentao, China's Minister of Commerce, had to say after his sit-down with his Japanese counterpart, Yasutoshi Nishimura, at the Asia-Pacific Economic Cooperation (APEC) conference in Detroit on Friday.
Some context: Last we...

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MofCom: 商务部部长王文涛会见日本经济产业大臣西村康稔

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