string(13) "markets-macro"

Macro

May 15, 2023

Beijing district rolls out the red carpet for AI talent

Tech power is people power. On Monday, Beijing’s Mentougou District rolled out the city’s first policy specifically aimed at attracting AI algorithm talent. Some context: In February, Mentougou announced the construction of a new AI development park, built in cooperation with the renowned Zhongguanc… Username Password Remember Me Forgot Password

Tech power is people power.
On Monday, Beijing’s Mentougou District rolled out the city’s first policy specifically aimed at attracting AI algorithm talent.
Some context: In February, Mentougou announced the construction of a new AI development park, built in cooperation with the renowned Zhongguanc...

sources

STDaily: 打造“京西智谷”！门头沟发布北京首个人工智能算法领域专门人才政策

People.cn: 北京发布人工智能算法领域专门人才政策

Beijing.gov: 中关村门头沟园打造人工智能产业高地

May 12, 2023

Xi focuses on energy and food security

Xi Jinping wants China to become more self-sufficient in food and energy. On Thursday, Xi Jinping continued his tour in Hebei by visiting the city of Cangzhou. Specifically, Xi visited a wheat field, where he stressed the importance of food security: “Grain security is a matter of national importan…

Xi Jinping wants China to become more self-sufficient in food and energy.
On Thursday, Xi Jinping continued his tour in Hebei by visiting the city of Cangzhou.
Specifically, Xi visited a wheat field, where he stressed the importance of food security:

“Grain security is a matter of national importan...

sources

Guangming Daily: 时政新闻眼丨习近平考察河北沧州，关注这些“国之大者”

May 12, 2023

The business environment business

Government efforts to improve the business environment just got an egg in the face. On Tuesday, Singtao Daily scooped that Yang Jie, a senior official in China’s macro planner (NDRC), was busted for profiteering from her role in the rating of local business environments. Some context: Local b…

Government efforts to improve the business environment just got an egg in the face.
On Tuesday, Singtao Daily scooped that Yang Jie, a senior official in China's macro planner (NDRC), was busted for profiteering from her role in the rating of local business environments.
Some context: Local b...

sources

Singtao Daily: 中國觀察：發改委女司長驚傳落馬

NDRC: 法规司赴浙江省、福建省开展调研

May 12, 2023

Could it be?

Are the US and China on the road to (partial) reconciliation? On Wednesday and Thursday, top Chinese diplomat Wang Yi met with US National Security Advisor Jake Sullivan in Vienna. The Chinese readout of the meeting was slim but promising (MoFA): “Both sides had a frank, in-depth, substantive, and …

Are the US and China on the road to (partial) reconciliation?
On Wednesday and Thursday, top Chinese diplomat Wang Yi met with US National Security Advisor Jake Sullivan in Vienna.
The Chinese readout of the meeting was slim but promising (MoFA):

“Both sides had a frank, in-depth, substantive, and ...

sources

MoFA: 王毅同美国总统国家安全事务助理沙利文举行会晤

White House: Readout of National Security Advisor Jake Sullivan’s Meeting with Chinese Communist Party Politburo Member and Director of the Office of the Foreign Affairs Commission Wang Yi

SCMP: China’s commerce minister to meet US trade representative this month: sources

May 12, 2023

Band-Aid on a bullet wound

Another year, another tsunami of fresh college grads to worry about. On Thursday, Executive Vice Premier Ding Xuexiang held the annual national teleconference on graduate jobs. Officials from pretty much everywhere attended. Some context: A record 11.58 million students are set to hit the job mark…

Another year, another tsunami of fresh college grads to worry about.
On Thursday, Executive Vice Premier Ding Xuexiang held the annual national teleconference on graduate jobs.

Officials from pretty much everywhere attended.

Some context: A record 11.58 million students are set to hit the job mark...

sources

People.cn: 扎实做好高校毕业生就业创业工作确保取得让党和人民满意的成效

May 12, 2023

On a dark desert highway

Utilizing China’s vast renewable energy is proving difficult. On May 9, the energy regulator (NEA) published a readout from a recent presser – where experts discussed problems delaying the country’s desert renewable energy buildout. ICYDK: In March 2022, the NEA launched a national program to build …

Utilizing China's vast renewable energy is proving difficult.
On May 9, the energy regulator (NEA) published a readout from a recent presser – where experts discussed problems delaying the country's desert renewable energy buildout.
ICYDK: In March 2022, the NEA launched a national program to build ...

sources

NEA: 国家能源局组织召开2023年4月份全国可再生能源开发建设形势分析会

May 12, 2023

Cause for concern

China’s central bank released the credit data for April late on Thursday. The verdict: Oof. The headlines: Net new total social financing (TSF) hit 1.22 trillion last month, versus the consensus forecast of RMB 2 trillion. Net new bank loans were RMB 718.8 billion in April, lower than the forecaste…

China’s central bank released the credit data for April late on Thursday.
The verdict: Oof.
The headlines:

Net new total social financing (TSF) hit 1.22 trillion last month, versus the consensus forecast of RMB 2 trillion.
Net new bank loans were RMB 718.8 billion in April, lower than the forecaste...

sources

PBoC: 2023年4月金融统计数据报告

Bloomberg: China’s Credit, New Loans Plunge as Worries Over Recovery Mount

May 12, 2023

There’s gold in them thar deserts

Cash-strapped local governments are turning to sovereign wealth funds (SWFs) in the Middle East to raise investment funding. The SWFs approached include (FT): Qatar Investment Authority Saudi Public Investment Fund (PIF) Abu Dhabi Investment Authority In January, the PIF and Shenzhen agreed to set…

Cash-strapped local governments are turning to sovereign wealth funds (SWFs) in the Middle East to raise investment funding.
The SWFs approached include (FT):

Qatar Investment Authority
Saudi Public Investment Fund (PIF)
Abu Dhabi Investment Authority

In January, the PIF and Shenzhen agreed to set...

sources

FT: China’s local governments look to Middle Eastern funds for investment

36kr: 开年最大，广州2000亿母基金成立

May 12, 2023

Testing the limits

We are seeing more signs that all is not well in some local property markets. Local authorities in Kunshan, Jiangsu province, have punished two property developers for heavy price cutting over the Labor Day holiday (April 29 to May 3) (Cailianshe). The developers offered discounts of up to 25% on …

We are seeing more signs that all is not well in some local property markets.
Local authorities in Kunshan, Jiangsu province, have punished two property developers for heavy price cutting over the Labor Day holiday (April 29 to May 3) (Cailianshe).

The developers offered discounts of up to 25% on ...

sources

Cailianshe: 7折卖房，昆山两项目降价被政府处罚

Yicai: 头部房企在江苏大降价被叫停，业内称楼市新一轮下跌几率不大

May 12, 2023

EVlution

New energy vehicles (NEV) are propping up the flagging auto market. Per data released by the China Association of Automobile Manufacturers (CAAM) Thursday: China sold 2.159 million vehicles in April – down 11.9% m/m, but also up 82.7% y/y from when COVID lockdowns kneecapped sales. Among that total…

New energy vehicles (NEV) are propping up the flagging auto market.
Per data released by the China Association of Automobile Manufacturers (CAAM) Thursday:

China sold 2.159 million vehicles in April – down 11.9% m/m, but also up 82.7% y/y from when COVID lockdowns kneecapped sales.
Among that total...

sources

The Paper: 中汽协：出口成今年前四月汽车销量增长主要拉动因素

May 12, 2023

An a-maize-ing breakthrough

It might not seem like much, but Beijing just scored a significant win in its efforts to diversify grain import sources. State-owned grain trader COFCO Group has just taken delivery of its first shipment of corn from South Africa. OK, so it was just 53,000 tons – roughly 0.26% of China’s annual co…

It might not seem like much, but Beijing just scored a significant win in its efforts to diversify grain import sources.
State-owned grain trader COFCO Group has just taken delivery of its first shipment of corn from South Africa.

OK, so it was just 53,000 tons – roughly 0.26% of China's annual co...

sources

SCMP: China gets first corn shipment from South Africa, bolstering push to diversify away from US

Xinhua: 我国从南非进口的首船饲料玉米抵港

May 12, 2023

On Our Radar | We come in peace

The most important upcoming developments for policy and politics in China over the next month Key developments econ and finance Lujiazui Financial Forum (June 8-9) foreign affairs Xi to chair China-Central Asia Summit (May 18-19) Li Hui to visit multiple European countries to broker Russia-Ukrain…

The most important upcoming developments for policy and politics in China over the next month
Key developments
econ and finance

Lujiazui Financial Forum (June 8-9)

foreign affairs

Xi to chair China-Central Asia Summit (May 18-19)
Li Hui to visit multiple European countries to broker Russia-Ukrain...

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