string(13) "markets-macro"

Macro

May 18, 2023

ChatGPT FOMO

Beijing’s got AI fever. On Friday, the Beijing government published draft measures supporting the development of artificial general intelligence (AGI). Quick context: AGI is the holy grail of AI innovation – a machine that can learn to do any task that a human or animal can do. That would make it … Username Password Remember… Read More »

Beijing's got AI fever.
On Friday, the Beijing government published draft measures supporting the development of artificial general intelligence (AGI).
Quick context: AGI is the holy grail of AI innovation - a machine that can learn to do any task that a human or animal can do.

That would make it ...

sources

Beijing.gov: 关于对《北京市促进通用人工智能创新发展的若干措施（2023-2025年）（征求意见稿）》公开征集意见的公告

May 17, 2023

Li Qiang chips the Netherlands

Chinese leaders are still urging the Dutch not to cut China out of global semiconductor supply chains. You may remember that last week, Vice President Han Zheng met with Dutch King Willem-Alexander and Prime Minister Mark Rutte to talk chips. On Tuesday, Premier Li Qiang had a go at it, jumping on …

Chinese leaders are still urging the Dutch not to cut China out of global semiconductor supply chains.
You may remember that last week, Vice President Han Zheng met with Dutch King Willem-Alexander and Prime Minister Mark Rutte to talk chips.
On Tuesday, Premier Li Qiang had a go at it, jumping on ...

sources

CPC People: 李强同荷兰首相吕特通电话

May 17, 2023

Let’s get down to business

Beijing and Singapore are on firm diplomatic footing – so it’s time to talk business. On Tuesday, Premier Li Qiang and Executive Vice Premier Ding Xuexiang met with Singapore’s Deputy Prime Minister Lawrence Wong in Beijing. On the agenda: Implementing the “All-Around High Quality Future-Oriented Pa…

Beijing and Singapore are on firm diplomatic footing – so it's time to talk business.
On Tuesday, Premier Li Qiang and Executive Vice Premier Ding Xuexiang met with Singapore's Deputy Prime Minister Lawrence Wong in Beijing.
On the agenda: Implementing the "All-Around High Quality Future-Oriented Pa...

sources

MoFA: 李强会见新加坡副总理兼财政部长黄循财

People's Daily: 丁薛祥同新加坡副总理兼财政部长黄循财举行会谈

Reuters: After opening borders, China presses Singapore for visa-free travel deal

May 17, 2023

Hotline bling

Beijing and Tokyo are doing the diplomatic two-step. On Tuesday, Defense Minister Li Shangfu called up his Japanese counterpart Hamada Yasukazu on their fancy new hotline. Some context: The hotline was established in March to allow for direct contact between the countries’ militaries and reduce tens…

Beijing and Tokyo are doing the diplomatic two-step.
On Tuesday, Defense Minister Li Shangfu called up his Japanese counterpart Hamada Yasukazu on their fancy new hotline.
Some context: The hotline was established in March to allow for direct contact between the countries’ militaries and reduce tens...

sources

People.cn: 李尚福与日本防卫大臣通话正式启用中日防务部门海空联络机制直通电话

AP: Defense ministers from Japan, China inaugurate hotline to avoid clashes, build trust

Japan Times: Japan and China connect military hotline to reduce tensions

Global Times: PLA flotilla spotted in waters near Japan after Tokyo's provocative remarks on Taiwan question

Nikkei: Japan's Kishida says Taiwan's security is global issue

May 17, 2023

What is Xi Jinping Thought?

Xi Jinping wants to remake Marxism to improve the Party’s governance of China – and tighten its grip on power. On Monday, Party magazine Qiushi published Xi’s full speech at the Politburo’s March 30 study session, which laid the groundwork for a Party-wide campaign to promote Xi Jinping Thought on S…

Xi Jinping wants to remake Marxism to improve the Party's governance of China – and tighten its grip on power.
On Monday, Party magazine Qiushi published Xi’s full speech at the Politburo’s March 30 study session, which laid the groundwork for a Party-wide campaign to promote Xi Jinping Thought on S...

sources

Qiushi: 在二十届中央政治局第四次集体学习时的讲话

CE.cn: 10+14+13，这些方面必须长期坚持并不断丰富发展

May 17, 2023

All talk and no trousers

Beijing has grand plans to increase electric vehicle sales by expanding the charging network nationwide – but it isn’t coughing up the money (so far). On Wednesday, regulators released measures aimed at boosting new energy vehicle (NEV) charging infrastructure in rural regions. That was fast: Two we…

Beijing has grand plans to increase electric vehicle sales by expanding the charging network nationwide – but it isn’t coughing up the money (so far).
On Wednesday, regulators released measures aimed at boosting new energy vehicle (NEV) charging infrastructure in rural regions.
That was fast: Two we...

sources

NDRC: 国家发展改革委国家能源局关于加快推进充电基础设施建设更好支持新能源汽车下乡和乡村振兴的实施意见

China Energy News: 国家发改委：新能源汽车下乡面临“三不足”

May 17, 2023

They aren’t who we thought they were

A second “high-quality” developer has defaulted on offshore debt. On Sunday, KWG Group – China’s 44th largest developer by sales – failed to make a scheduled USD 119 million principal payment. The event triggered a cross-default – and suspension of trading – on eight other KWG bonds. Dozens of Chi…

The event triggered a cross-default – and suspension of trading – on eight other KWG bonds.

Dozens of Chi...

sources

Yicai: 交换要约后再违约，合景泰富着手推进境外债务重组

HKEX: SUSPENSION OF TRADING OF THE FOLLOWING SENIOR NOTES

May 17, 2023

Running out of steam

April’s econ data, published by the stats bureau on Tuesday and Wednesday, suggest the real estate recovery is already running out of steam. ICYDK: Home sales rose in March, fueling hopes that the sector was on the road to recovery. The pick-up in activity already looks to be flatlining, however: H…

April's econ data, published by the stats bureau on Tuesday and Wednesday, suggest the real estate recovery is already running out of steam.
ICYDK: Home sales rose in March, fueling hopes that the sector was on the road to recovery.
The pick-up in activity already looks to be flatlining, however:

H...

sources

NBS: 2023年1—4月份全国房地产市场基本情况

NBS: 2023年4月份70个大中城市商品住宅销售价格变动情况

May 17, 2023

The young and the jobless

China’s youth unemployment is at a record high. On Tuesday, the National Bureau of Statistics (NBS) dropped the monthly employment data for April. The headline: Urban unemployment for 16- to 24-year-olds hit a record 20.4%, up from 19.6% in March. The overall urban unemployment rate was 5.2%, a smi…

China’s youth unemployment is at a record high.
On Tuesday, the National Bureau of Statistics (NBS) dropped the monthly employment data for April.
The headline: Urban unemployment for 16- to 24-year-olds hit a record 20.4%, up from 19.6% in March.

The overall urban unemployment rate was 5.2%, a smi...

sources

National Bureau of Statistics: 4月份国民经济运行延续恢复向好态势

National Bureau of Statistics: 国家统计局新闻发言人就2023年4月份国民经济运行情况答记者问

MOE: 2023届高校毕业生预计达1158万人

May 17, 2023

Futu and Tiger face the inevitable

The regulatory vice grip is tightening for China’s cross-border stockbrokers. On Tuesday, cross-border stockbrokers Futu Holdings and Tiger Brokers announced they will soon remove their apps from Chinese app stores to comply with regulatory requirements. That means they won’t be able to regis…

The regulatory vice grip is tightening for China's cross-border stockbrokers.
On Tuesday, cross-border stockbrokers Futu Holdings and Tiger Brokers announced they will soon remove their apps from Chinese app stores to comply with regulatory requirements.

That means they won't be able to regis...

sources

WSJ: Two Trading Apps That Allowed Chinese Citizens to Invest Overseas Get Pulled From China

Caixin: 富途、老虎响应整改要求境内应用商店下架APP

May 17, 2023

Flash Talk | Office raids and April econ data

This Flash Talk comes a week late as Trivium Co-founder Andrew Polk and Trivium’s Head of China Markets Research Dinny McMahon attended the American Chamber of Commerce’s China conference in Washington DC last week. In this Flash Talk, Andrew shares his observations from the conference and discusse…

This Flash Talk comes a week late as Trivium Co-founder Andrew Polk and Trivium’s Head of China Markets Research Dinny McMahon attended the American Chamber of Commerce's China conference in Washington DC last week.
In this Flash Talk, Andrew shares his observations from the conference and discusse...

May 17, 2023

Learning from Silicon Valley

China’s central bank (PBoC) is learning from the US’s mistakes. In its Q2 Monetary Policy Report, published Monday, the PBoC outlined four lessons it’s learned from Silicon Valley Bank’s (SVB) demise. First, the PBoC blamed sharp swings in US monetary policy for exacerbating SVB’s difficulties. A p…

China’s central bank (PBoC) is learning from the US's mistakes.
In its Q2 Monetary Policy Report, published Monday, the PBoC outlined four lessons it’s learned from Silicon Valley Bank's (SVB) demise.
First, the PBoC blamed sharp swings in US monetary policy for exacerbating SVB's difficulties.

A p...

sources

PBoC: 中国货币政策执行报告2023 年第一季度

Pages: 1234567891011121314151617181920212223242526272829303132333435363738394041424344454647484950515253545556575859606162636465666768697071727374757677787980818283848586878889909192939495969798991001011021031041051061071081091101111121131141151161171181191201211221231241251261271281291301311321331341351361371381391401411421431441451461471481491501511521531541551561571581591601611621631641651661671681691701711721731741751761771781791801811821831841851861871881891901911921931941951961971981992002012022032042052062072082092102112122132142152162172182192202212222232242252262272282292302312322332342352362372382392402412422432442452462472482492502512522532542552562572582592602612622632642652662672682692702712722732742752762772782792802812822832842852862872882892902912922932942952962972982993003013023033043053063073083093103113123133143153163173183193203213223233243253263273283293303313323333343353363373383393403413423433443453463473483493503513523533543553563573583593603613623633643653663673683693703713723733743753763773783793803813823833843853863873883893903913923933943953963973983994004014024034044054064074084094104114124134144154164174184194204214224234244254264274284294304314324334344354364374384394404414424434444454464474484494504514524534544554564574584594604614624634644654664674684694704714724734744754764774784794804814824834844854864874884894904914924934944954964974984995005015025035045055065075085095105115125135145155165175185195205215225235245255265275285295305315325335345355365375385395405415425435445455465475485495505515525535545555565575585595605615625635645655665675685695705715725735745755765775785795805815825835845855865875885895905915925935945955965975985996006016026036046056066076086096106116126136146156166176186196206216226236246256266276286296306316326336346356366376386396406416426436446456466476486496506516526536546556566576586596606616626636646656666676686696706716726736746756766776786796806816826836846856866876886896906916926936946956966976986997007017027037047057067077087097107117127137147157167177187197207217227237247257267277287297307317327337347357367377387397407417427437447457467477487497507517527537547557567577587597607617627637647657667677687697707717727737747757767777787797807817827837847857867877887897907917927937947957967977987998008018028038048058068078088098108118128138148158168178188198208218228238248258268278288298308318328338348358368378388398408418428438448458468478488498508518528538548558568578588598608618628638648658668678688698708718728738748758768778788798808818828838848858868878888898908918928938948958968978988999009019029039049059069079089099109119129139149159169179189199209219229239249259269279289299309319329339349359369379389399409419429439449459469479489499509519529539549559569579589599609619629639649659669679689699709719729739749759769779789799809819829839849859869879889899909919929939949959969979989991000100110021003100410051006100710081009101010111012101310141015101610171018101910201021102210231024102510261027102810291030103110321033103410351036103710381039104010411042104310441045104610471048104910501051105210531054105510561057105810591060106110621063106410651066106710681069107010711072107310741075107610771078107910801081108210831084108510861087108810891090109110921093109410951096109710981099110011011102110311041105110611071108110911101111111211131114111511161117111811191120112111221123112411251126112711281129113011311132113311341135113611371138113911401141114211431144114511461147114811491150115111521153115411551156115711581159116011611162