string(13) "markets-macro"

Macro

May 26, 2023

Into the breach

More cracks are appearing in China’s great wall of debt. The latest mini-crisis was in Kunming, the capital of Yunnan province, where two local government financing vehicles (LGFVs) owned by the city government struggled to repay their bonds. The deets: On Sunday, one repaid a RMB 200 million note d… Username Password Remember Me … Read More »

More cracks are appearing in China's great wall of debt.
The latest mini-crisis was in Kunming, the capital of Yunnan province, where two local government financing vehicles (LGFVs) owned by the city government struggled to repay their bonds.
The deets: On Sunday, one repaid a RMB 200 million note d...

sources

Caixin: 昆明城投债券兑付风波发酵区域土地收入断崖下跌

Bloomberg: China LGFV’s Last-Minute Bond Payment Highlights Local Woes

May 26, 2023

We’re the win-win guys

China is a force for global economic good, regardless of what certain countries think. That was the message from Ministry of Commerce (MofCom) spokesperson Shu Jueting at a Thursday presser. Asked to comment on the G7 leaders’ statement last week that they do not seek to decouple from China, Shu sai…

China is a force for global economic good, regardless of what certain countries think.
That was the message from Ministry of Commerce (MofCom) spokesperson Shu Jueting at a Thursday presser.
Asked to comment on the G7 leaders' statement last week that they do not seek to decouple from China, Shu sai...

sources

MofCom: 商务部召开例行新闻发布会（2023年5月25日）

May 26, 2023

Quick Take | Beijing’s consumption conundrum

Beijing wants to transform the structure of China’s economy, moving from investment-based to consumption-led growth. After years of no real progress, top leaders have penciled in 2023 as the year to kickstart the transition. But policymakers face a one-two combination of challenges when it comes t…

Beijing wants to transform the structure of China’s economy, moving from investment-based to consumption-led growth.

After years of no real progress, top leaders have penciled in 2023 as the year to kickstart the transition.

But policymakers face a one-two combination of challenges when it comes t...

May 26, 2023

The price of Brilliance

One of the most high-profile defaults by a state-owned enterprise could be nearing resolution. The government of Shenyang, the capital of Liaoning province, is in talks to become the biggest shareholder in Hong Kong-listed Brilliance China Automotive Holdings, BMW’s joint venture partner (Bloomberg)…

One of the most high-profile defaults by a state-owned enterprise could be nearing resolution.
The government of Shenyang, the capital of Liaoning province, is in talks to become the biggest shareholder in Hong Kong-listed Brilliance China Automotive Holdings, BMW’s joint venture partner (Bloomberg)...

sources

Bloomberg: Shenyang Weighing Takeover of Brilliance China’s Major Owner, Sources Say

May 26, 2023

Fiscal fizzle

Boosting consumption first requires raising incomes – and that requires a far more active fiscal policy. So said Liu Yuanchun – president of Shanghai University of Finance and Economics and a trusted economic advisor to Xi Jinping – in a Monday speech. Liu said that consumption remains weak because …

Boosting consumption first requires raising incomes – and that requires a far more active fiscal policy.
So said Liu Yuanchun – president of Shanghai University of Finance and Economics and a trusted economic advisor to Xi Jinping – in a Monday speech.
Liu said that consumption remains weak because ...

sources

CF40: 从资产负债表角度分析中国经济复苏路径

May 26, 2023

Say you, say me

You’ve probably already heard: The Biden administration is gearing up to release an Executive Order establishing a new mechanism for screening outbound investments to strategic competitors. The EU is considering taking a similar approach. On Tuesday, Bloomberg reported that US and EU officials are…

You've probably already heard: The Biden administration is gearing up to release an Executive Order establishing a new mechanism for screening outbound investments to strategic competitors.

The EU is considering taking a similar approach.

On Tuesday, Bloomberg reported that US and EU officials are...

sources

Bloomberg: EU and US Discuss Aligning Investment Controls With Eye on China

May 26, 2023

China pulls ahead on 5G adoption

On Monday, the Ministry of Industry and Information Technology (MIIT) released the latest stats on China’s 5G networks. This caught our eye: 5G adoption in China has pulled slightly ahead of adoption in the US. Of 1.7 billion mobile subscriptions in China, 634 million are 5G subscriptions, puttin…

On Monday, the Ministry of Industry and Information Technology (MIIT) released the latest stats on China's 5G networks.
This caught our eye: 5G adoption in China has pulled slightly ahead of adoption in the US.

Of 1.7 billion mobile subscriptions in China, 634 million are 5G subscriptions, puttin...

sources

People.cn: 工信部：截至4月末5G移动电话用户达6.34亿户

Telecomlead: Number of 5G connections to touch 2 billion in 2023

Zhihu: 5G基站建设总量已超200万，复合年均增长率41.6%

May 26, 2023

New geopolitics, new research boundaries

China’s sci-tech partnerships with foreign countries may continue, but not as we knew them. On Monday, Ministry of Science and Technology (MoST) chief Wang Zhigang met New Zealand’s ambassador to China to discuss sci-tech. Background: In 2015, New Zealand and China signed a detailed five-year road…

China’s sci-tech partnerships with foreign countries may continue, but not as we knew them.
On Monday, Ministry of Science and Technology (MoST) chief Wang Zhigang met New Zealand's ambassador to China to discuss sci-tech.
Background: In 2015, New Zealand and China signed a detailed five-year road...

sources

Ministry of Science and Technology: 王志刚部长会见新西兰驻华大使毛瑞一行

Source: Arrangement on a Five Year Roadmap for New Zealand—China Science and Technology Cooperation

May 26, 2023

Manufacturing Ménage à Trois

On Wednesday, The Ministry of Science and Technology (MoST) released a summary of MoST head Wang Zhigang’s multi-day trip to Tianjin. Why he was there: To promote industrial cooperation between Beijing, Tianjin, and Hebei. During his visit, Wang met with Tianjin Party head and Central Committe…

On Wednesday, The Ministry of Science and Technology (MoST) released a summary of MoST head Wang Zhigang's multi-day trip to Tianjin.
Why he was there: To promote industrial cooperation between Beijing, Tianjin, and Hebei.

During his visit, Wang met with Tianjin Party head and Central Committe...

sources

Ministry of Science and Technology: 科技部、天津市人民政府2023年部市工作会商会议在天津举行

Gov.cn: 《京津冀产业协同发展实施方案》印发力争到2025年产业协同发展水平显著提升

May 26, 2023

Important Data, here we come?

We’ll soon have a (tiny) bit more clarity on legally exporting data out of China. Recap: China’s cybersecurity regime places restrictions on the export of data designated as “Important Data.” But there aren’t any rules clarifying exactly what Important Data is, leaving regulators and companies in …

We’ll soon have a (tiny) bit more clarity on legally exporting data out of China.
Recap: China's cybersecurity regime places restrictions on the export of data designated as "Important Data."

But there aren't any rules clarifying exactly what Important Data is, leaving regulators and companies in ...

sources

MIIT: 公开征求对《工业领域数据安全标准体系建设指南（2023版）》（征求意见稿）的意见

May 26, 2023

Like lips and teeth

Beijing and Moscow are as tight as ever. On Wednesday, Xi Jinping met with Russian Prime Minister Mikhail Mishustin, who’s in China to talk up Sino-Russian trade cooperation. Xi had warm words to share: “Consolidating and developing Sino-Russian relations is not only the aspiration of the people, b…

Beijing and Moscow are as tight as ever.
On Wednesday, Xi Jinping met with Russian Prime Minister Mikhail Mishustin, who's in China to talk up Sino-Russian trade cooperation.
Xi had warm words to share:

“Consolidating and developing Sino-Russian relations is not only the aspiration of the people, b...

sources

MoFA: 习近平会见俄罗斯总理米舒斯京

SCMP: Xi Jinping calls for China, Russia to ‘elevate cooperation’ in talks with Mishustin

Russian Foreign Ministry: Mikhail Mishustin’s meeting with President of China Xi Jinping

May 25, 2023

Qin Gang asks the Netherlands to chip in

On Tuesday, China’s foreign minister Qin Gang sat down with his Dutch counterpart Wopke Hoekstra for a two-hour talk in Beijing. Qin’s message: Keep selling us advanced lithography machines. Some context: The Dutch government is close to rolling out new export controls as part of a multilateral a…

On Tuesday, China’s foreign minister Qin Gang sat down with his Dutch counterpart Wopke Hoekstra for a two-hour talk in Beijing.
Qin’s message: Keep selling us advanced lithography machines.
Some context: The Dutch government is close to rolling out new export controls as part of a multilateral a...

sources

Reuters: Safeguarding economy a priority, Dutch foreign minister says in China

MoFA: 秦刚：中荷可以在三个层面加强合作

Pages: 1234567891011121314151617181920212223242526272829303132333435363738394041424344454647484950515253545556575859606162636465666768697071727374757677787980818283848586878889909192939495969798991001011021031041051061071081091101111121131141151161171181191201211221231241251261271281291301311321331341351361371381391401411421431441451461471481491501511521531541551561571581591601611621631641651661671681691701711721731741751761771781791801811821831841851861871881891901911921931941951961971981992002012022032042052062072082092102112122132142152162172182192202212222232242252262272282292302312322332342352362372382392402412422432442452462472482492502512522532542552562572582592602612622632642652662672682692702712722732742752762772782792802812822832842852862872882892902912922932942952962972982993003013023033043053063073083093103113123133143153163173183193203213223233243253263273283293303313323333343353363373383393403413423433443453463473483493503513523533543553563573583593603613623633643653663673683693703713723733743753763773783793803813823833843853863873883893903913923933943953963973983994004014024034044054064074084094104114124134144154164174184194204214224234244254264274284294304314324334344354364374384394404414424434444454464474484494504514524534544554564574584594604614624634644654664674684694704714724734744754764774784794804814824834844854864874884894904914924934944954964974984995005015025035045055065075085095105115125135145155165175185195205215225235245255265275285295305315325335345355365375385395405415425435445455465475485495505515525535545555565575585595605615625635645655665675685695705715725735745755765775785795805815825835845855865875885895905915925935945955965975985996006016026036046056066076086096106116126136146156166176186196206216226236246256266276286296306316326336346356366376386396406416426436446456466476486496506516526536546556566576586596606616626636646656666676686696706716726736746756766776786796806816826836846856866876886896906916926936946956966976986997007017027037047057067077087097107117127137147157167177187197207217227237247257267277287297307317327337347357367377387397407417427437447457467477487497507517527537547557567577587597607617627637647657667677687697707717727737747757767777787797807817827837847857867877887897907917927937947957967977987998008018028038048058068078088098108118128138148158168178188198208218228238248258268278288298308318328338348358368378388398408418428438448458468478488498508518528538548558568578588598608618628638648658668678688698708718728738748758768778788798808818828838848858868878888898908918928938948958968978988999009019029039049059069079089099109119129139149159169179189199209219229239249259269279289299309319329339349359369379389399409419429439449459469479489499509519529539549559569579589599609619629639649659669679689699709719729739749759769779789799809819829839849859869879889899909919929939949959969979989991000100110021003100410051006100710081009101010111012101310141015101610171018101910201021102210231024102510261027102810291030103110321033103410351036103710381039104010411042104310441045104610471048104910501051105210531054105510561057105810591060106110621063106410651066106710681069107010711072107310741075107610771078107910801081108210831084108510861087108810891090109110921093109410951096109710981099110011011102110311041105110611071108110911101111111211131114111511161117111811191120112111221123112411251126112711281129113011311132113311341135113611371138113911401141114211431144114511461147114811491150115111521153115411551156115711581159116011611162