string(13) "markets-macro"

Macro

May 22, 2023

Easing the squeeze

It’s about to get easier for multinational corporations (MNCs) to move currency out of China. On Friday, the central bank (PBoC) and the foreign exchange administrator (SAFE) announced plans to expand a pilot that simplifies MNCs’ currency movements across China’s borders. Some context: MNCs operati… Username Password Remember Me Forgot Password

It's about to get easier for multinational corporations (MNCs) to move currency out of China.
On Friday, the central bank (PBoC) and the foreign exchange administrator (SAFE) announced plans to expand a pilot that simplifies MNCs' currency movements across China's borders.
Some context: MNCs operati...

sources

SAFE: 中国人民银行、国家外汇管理局持续优化跨国公司本外币跨境资金集中运营管理政策

Caixin: 跨国公司本外币跨境资金集中管理升级京粤深三地先行试点

May 22, 2023

Warsaw was raw

Poland is unimpressed with China’s stance on Ukraine. On Friday, Li Hui, China’s special representative for Eurasian affairs, met with Polish deputy foreign minister Wojciech Gerwel. Some context: Poland – arguably the EU’s most anti-Russia member – was the second stop of Li’s European tour followin…

Poland is unimpressed with China’s stance on Ukraine.
On Friday, Li Hui, China’s special representative for Eurasian affairs, met with Polish deputy foreign minister Wojciech Gerwel.
Some context: Poland – arguably the EU’s most anti-Russia member – was the second stop of Li’s European tour followin...

sources

Polish Foreign Ministry: Deputy Minister Wojciech Gerwel met the Special Envoy of the Chinese Government for Eurasian Affairs

CGTN: China to continue communication with Poland on political settlement of Ukraine crisis: Envoy

May 22, 2023

Standing together

The Group of Seven (G7) is increasingly aligned on China-related issues – and China is none too pleased. On Saturday, the G7 issued a communique at the G7 summit in Hiroshima, Japan, pledging to “stand together” on sensitive China-related issues, including (European Council): Ensuring resilience ag…

The Group of Seven (G7) is increasingly aligned on China-related issues – and China is none too pleased.
On Saturday, the G7 issued a communique at the G7 summit in Hiroshima, Japan, pledging to "stand together" on sensitive China-related issues, including (European Council):

Ensuring resilience ag...

sources

European Council: G7 Hiroshima Leaders’ Communiqué

MoFA: Foreign Ministry Spokesperson’s Remarks on G7 Hiroshima Summit’s Hyping up of China-related Issues

Xinhua: 七国集团抹黑中国，日本有识之士怒怼

May 22, 2023

In it for the long haul

Xi Jinping wants deeper energy ties with Central Asia. On Friday, he delivered the keynote speech at the China-Central Asia Summit. Some context: Energy is a pillar of Sino-Central Asian relations. The region accounted for 27% of China’s gas imports in 2021. Renewable energy cooperation is also boo…

Xi Jinping wants deeper energy ties with Central Asia.
On Friday, he delivered the keynote speech at the China-Central Asia Summit.
Some context: Energy is a pillar of Sino-Central Asian relations.

The region accounted for 27% of China's gas imports in 2021.
Renewable energy cooperation is also boo...

sources

Xinhua: 习近平主持首届中国－中亚峰会并发表主旨讲话强调携手建设守望相助、共同发展、普遍安全、世代友好的中国－中亚命运共同体

May 22, 2023

It’s consumption, stupid

Consumption must rebound for the private sector to recover. That’s according to Wang Yiming, an academic member of the central bank’s (PBoC) monetary policy committee, in comments delivered Saturday (Caixin). According to Wang, household and corporate balance sheets were badly damaged during COVID. …

Consumption must rebound for the private sector to recover.
That’s according to Wang Yiming, an academic member of the central bank’s (PBoC) monetary policy committee, in comments delivered Saturday (Caixin).
According to Wang, household and corporate balance sheets were badly damaged during COVID.
...

sources

Caixin: 王一鸣：稳投资关键是解决对民间投资“明放暗不放”问题

May 22, 2023

One country, one market

Beijing is taking aim at local protectionism – again. Top of the agenda at Friday’s State Council executive meeting, chaired by Premier Li Qiang: Creating a unified national market. Heard this one before? Xi Jinping made it a policy priority back in November 2013. The economy is hampered by ineffic…

Beijing is taking aim at local protectionism – again.
Top of the agenda at Friday's State Council executive meeting, chaired by Premier Li Qiang: Creating a unified national market.
Heard this one before? Xi Jinping made it a policy priority back in November 2013.

The economy is hampered by ineffic...

sources

Gov.cn: 李强主持召开国务院常务会议研究落实建设全国统一大市场部署总体工作方案和近期举措

May 21, 2023

Open sesame

Since Alibaba announced plans to split into six independent business units back in March, everyone’s been asking one question: Is Ali paving the way for a series of IPOs? On Thursday, we found out the answer: Yes, yes, and triple yes. Alibaba Group CEO Daniel Zhang announced that the company will:…

Since Alibaba announced plans to split into six independent business units back in March, everyone's been asking one question:

Is Ali paving the way for a series of IPOs?

On Thursday, we found out the answer: Yes, yes, and triple yes. Alibaba Group CEO Daniel Zhang announced that the company will:...

sources

Sina: 张勇发布全员信：阿里云将分拆上市，二次创业打造世界级科技公司（附全员信）

May 20, 2023

Montana banned TikTok – now what?

A new phase of the TikTok saga has begun. On Wednesday, Montana Governor Greg Gianforte approved the US’ first state-wide commercial ban on the popular short video app. Some context: TikTok was banned from all federal government devices back in January, and some policymakers are pushing for a comm…

A new phase of the TikTok saga has begun.
On Wednesday, Montana Governor Greg Gianforte approved the US’ first state-wide commercial ban on the popular short video app.
Some context: TikTok was banned from all federal government devices back in January, and some policymakers are pushing for a comm...

sources

FT: TikTok faces first US state ban in Montana

NYT: TikTok Users Sue Montana, Calling State Ban Unconstitutional

May 20, 2023

Coming out swinging

Tighter regulation is coming for China’s financial sector, including fintech platforms. That’s the message from Li Yunze, the just-appointed head of the new powerful financial regulator (NFRA), who spoke at its opening ceremony on Thursday. Some context: NFRA will oversee the establishment of…

Tighter regulation is coming for China’s financial sector, including fintech platforms.
That’s the message from Li Yunze, the just-appointed head of the new powerful financial regulator (NFRA), who spoke at its opening ceremony on Thursday.
Some context: NFRA will oversee the establishment of...

sources

The Paper: 李云泽：依法将各类金融活动全部纳入监管，努力消除监管空白和盲区

May 20, 2023

Magical rumor extinguishers

And now, a break for lulz. On Tuesday, China’s internet watchdog (CAC) handed out awards to tech companies, media platforms, government departments, and individuals who have done an exceptional job refuting online rumors and misinformation. Some context: The CAC is responsible for both censoring th…

And now, a break for lulz.
On Tuesday, China's internet watchdog (CAC) handed out awards to tech companies, media platforms, government departments, and individuals who have done an exceptional job refuting online rumors and misinformation.
Some context: The CAC is responsible for both censoring th...

sources

CAC: “第五届中国互联网辟谣优秀作品”揭晓

May 20, 2023

Deep Dive | Data disappointment signals more policy support

To download this piece as a PDF, click here. Key takeaways: Large infrastructure stimulus has had less of a feedthrough to economic activity than Beijing had hoped. The primary problem is weak real estate activity. The April collapse in house building and y/y fall in real estate investment undermin…

To download this piece as a PDF, click here.
Key takeaways:

Large infrastructure stimulus has had less of a feedthrough to economic activity than Beijing had hoped.
The primary problem is weak real estate activity. The April collapse in house building and y/y fall in real estate investment undermin...

May 19, 2023

Spreading the gospel

Premier Li Qiang’s been out inspecting the state of the nation – and making sure local officials are implementing central government orders to get the economy moving. During a two-day visit this week to Shandong province, a manufacturing powerhouse in eastern China, he said (Xinhua): “To promo…

Premier Li Qiang's been out inspecting the state of the nation – and making sure local officials are implementing central government orders to get the economy moving.
During a two-day visit this week to Shandong province, a manufacturing powerhouse in eastern China, he said (Xinhua):

"To promo...

sources

Xinhua: 李强在山东调研时强调做强做优实体经济着力扩内需稳外需推动经济运行持续回升向好

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