string(13) "markets-macro"

Macro

May 11, 2023

Chinese no-limits finger trap

China’s ties to Russia complicate its push against export controls. On Monday, multiple outlets reported the EU is considering sanctions against eight Chinese companies for exporting dual-use technologies to Russia. An EU statement accused the Chinese companies of circumventing trade restrictions t… Username Password Remember Me Forgot Password

China's ties to Russia complicate its push against export controls.
On Monday, multiple outlets reported the EU is considering sanctions against eight Chinese companies for exporting dual-use technologies to Russia.
An EU statement accused the Chinese companies of circumventing trade restrictions t...

sources

WSJ: EU Targets Eight Chinese Companies in Russia Sanctions Push

FT: China vows to retaliate against EU sanctions on its companies

May 11, 2023

Cap those data outflows

Worry in the business community over investigations into consulting companies is spiraling. On Monday, CCTV aired a 15-minute video segment on the Ministry of State Security’s investigation into the New York- and Shanghai-headquartered consulting firm Capvision. Capvision’s sin: Persuading Chinese e…

Worry in the business community over investigations into consulting companies is spiraling.
On Monday, CCTV aired a 15-minute video segment on the Ministry of State Security’s investigation into the New York- and Shanghai-headquartered consulting firm Capvision.
Capvision’s sin: Persuading Chinese e...

sources

CCTV: 《焦点访谈》 20230508 别有用心的咨询

May 11, 2023

Getting out in front of it

On Tuesday, Douyin publicly released a company policy on the use of AI-generated content (AICG) on its platform. Douyin is a short video app for the China market released by ByteDance, the makers of TikTok. What caught our eye: Douyin’s policy closely conforms to new AI regulations released by Ch…

On Tuesday, Douyin publicly released a company policy on the use of AI-generated content (AICG) on its platform.

Douyin is a short video app for the China market released by ByteDance, the makers of TikTok.

What caught our eye: Douyin's policy closely conforms to new AI regulations released by Ch...

sources

Douyin: 抖音关于人工智能生成内容的平台规范暨行业倡议

Douyin: 抖音关于人工智能生成内容标识的水印与元数据规范

May 11, 2023

Get ’em while they’re young

The Jiangsu government is coming up with new ideas to promote use of the e-CNY. The latest: On Tuesday, the Jiangsu education bureau announced plans to increase e-CNY payments on campuses. ICYMI: Just a couple of weeks ago, Jiangsu launched a pilot to pay civil servant salaries in e-CNY in Changsh…

The Jiangsu government is coming up with new ideas to promote use of the e-CNY.
The latest: On Tuesday, the Jiangsu education bureau announced plans to increase e-CNY payments on campuses.
ICYMI: Just a couple of weeks ago, Jiangsu launched a pilot to pay civil servant salaries in e-CNY in Changsh...

sources

Gov.cn: 江苏出台教育领域数字人民币试点实施方案

May 11, 2023

Remuneration deceleration

Wages grew at the slowest pace in over a decade last year. That’s the big takeaway from the 2022 urban wage data, released by the stats bureau (NBS) on Tuesday. The top-line numbers: Average annual non-private wages increased 6.7% y/y to RMB 114,029, down from 9.7% growth in 2021. Private wages gre…

Wages grew at the slowest pace in over a decade last year.
That’s the big takeaway from the 2022 urban wage data, released by the stats bureau (NBS) on Tuesday.
The top-line numbers:

Average annual non-private wages increased 6.7% y/y to RMB 114,029, down from 9.7% growth in 2021.
Private wages gre...

sources

NBS: 2022年城镇私营单位就业人员年平均工资65237元

NBS: 2022年城镇非私营单位就业人员年平均工资114029元

Caixin: 2022年非私营和私营单位工资差距继续扩大房地产业平均工资下降

May 11, 2023

(Don’t) turn your lights down low

China’s power regulators are getting edgy about potential electricity shortages. On Tuesday, the National Energy Administration (NEA) launched a special “rectification” campaign to minimize the chances of widespread cuts as summer – a peak demand period – approaches. While China’s been plagued by po…

China's power regulators are getting edgy about potential electricity shortages.
On Tuesday, the National Energy Administration (NEA) launched a special "rectification" campaign to minimize the chances of widespread cuts as summer – a peak demand period – approaches.
While China's been plagued by po...

sources

The Paper: 国家能源局：在全国范围内开展频繁停电专项整治

May 10, 2023

In Berlin, China warns of new Cold War

It’s hard for Beijing and Berlin to stay friends. On Tuesday, Chinese Foreign Minister Qin Gang met his German counterpart Annalena Baerbock in the German capital. Qin’s in town to coordinate the upcoming seventh round (since 2011) of intergovernmental consultations. Business first? In November, C…

It's hard for Beijing and Berlin to stay friends.
On Tuesday, Chinese Foreign Minister Qin Gang met his German counterpart Annalena Baerbock in the German capital.

Qin’s in town to coordinate the upcoming seventh round (since 2011) of intergovernmental consultations.

Business first? In November, C...

sources

MoFA: 秦刚同德国外长贝尔伯克共同会见记者

Reuters: EU takes aim at Chinese firms in proposed new Russia sanctions - sources

Politico: China’s Qin warns EU not to sanction its companies over trade with Russia

SCMP: China is not the real risk for Europe, Qin Gang warns Berlin hosts

DWNews: Germany's Baerbock says China can help end Ukraine war

May 10, 2023

Balancing the Brits

Beijing sees hopeful signs that London will return to the “right direction” in foreign policy and help dull the US-led anti-China coalition. On Monday, China’s top diplomat Wang Yi spoke by phone with UK national security adviser Tim Barrow. Some context: On April 25, UK Foreign Secretary James Cl…

Beijing sees hopeful signs that London will return to the "right direction" in foreign policy and help dull the US-led anti-China coalition.
On Monday, China's top diplomat Wang Yi spoke by phone with UK national security adviser Tim Barrow.
Some context:

On April 25, UK Foreign Secretary James Cl...

sources

MoFA: 王毅同英国首相国家安全事务顾问巴罗通电话

CGTN: Wang Yi calls for promoting China-UK ties in right direction

Gov.uk: Our position on China: Foreign Secretary's 2023 Mansion House speech

SCMP: UK official Dominic Johnson’s visit shows Hong Kong values cooperation, John Lee says, but warns of ‘certain countries’ acting to ‘serve political interests’

Reuters: British ex-premier Truss to visit Taiwan next week

May 10, 2023

LinkedIn links out (again)

Need another reminder how hard it is to operate in China as a foreign internet company? On Monday, LinkedIn announced that it will be shutting down its last China-facing app, the InCareer job application service, on August 9. The US company will also lay off 174 staff in China, part of 716 job cuts…

Need another reminder how hard it is to operate in China as a foreign internet company?
On Monday, LinkedIn announced that it will be shutting down its last China-facing app, the InCareer job application service, on August 9.

The US company will also lay off 174 staff in China, part of 716 job cuts...

sources

Caixin: 领英将关闭本土化应用“领英职场” 在中国裁员上百人

WSJ: LinkedIn Cuts More Than 700 Jobs Worldwide, Closes China App

May 10, 2023

High time for Common Prosperity

Average private sector wages in 2022 grew at their lowest rate since comparable records first began, back in 2009. According to data released by the stats bureau on Tuesday (NBS 7): Private sector wages increased by 3.7% y/y. Once accounting for inflation (which erodes the purchasing power of wages…

Average private sector wages in 2022 grew at their lowest rate since comparable records first began, back in 2009.
According to data released by the stats bureau on Tuesday (NBS 7):

Private sector wages increased by 3.7% y/y.
Once accounting for inflation (which erodes the purchasing power of wages...

sources

NBS: 2022年城镇非私营单位就业人员年平均工资114029元

NBS: 2022年城镇私营单位就业人员年平均工资65237元

NBS: 2020年城镇非私营单位就业人员年平均工资97379

NBS: 2020年城镇私营单位就业人员年平均工资57727元

NBS: 2019年城镇非私营单位就业人员年平均工资90501元

NBS: 2019年城镇私营单位就业人员年平均工资53604元

NBS: 国家统计局人口和就业统计司司长王萍萍解读2022年城镇单位就业人员平均工资数据

May 10, 2023

How do you value a life?

Regulators have thrown China’s struggling life insurers a lifeline. On Tuesday, Caixin reported that the insurance regulator (CBIRC) told life insurance companies to lower estimated returns on new products. Citing unnamed sources, Caixin said that CBIRC instructed chief actuaries of life insurers to…

Regulators have thrown China’s struggling life insurers a lifeline.
On Tuesday, Caixin reported that the insurance regulator (CBIRC) told life insurance companies to lower estimated returns on new products.
Citing unnamed sources, Caixin said that CBIRC instructed chief actuaries of life insurers to...

sources

Caixin: Chinese Regulator Tells Life Insurers to Slash Estimated Returns for Investors

May 9, 2023

Camping out

Who likes camping? China’s cybersecurity watchdog (CAC) likes camping. On Monday, the agency announced they’ll be pitching their tents at the Wuhan HQ of livestream gaming platform Douyu, for an entire month. Why? To conduct an on-site inspection of Douyu’s inappropriate content: “Douyu has se…

Who likes camping?

China’s cybersecurity watchdog (CAC) likes camping.

On Monday, the agency announced they'll be pitching their tents at the Wuhan HQ of livestream gaming platform Douyu, for an entire month.
Why? To conduct an on-site inspection of Douyu's inappropriate content:

“Douyu has se...

sources

CAC: 网信部门工作组进驻斗鱼平台

Caixin: 网信部门进驻斗鱼针对色情、低俗等整改1月

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