string(13) "markets-macro"

Macro

May 5, 2023

Tiers of joy, tiers of grief

The tide is rising in China’s property market, but not all boats are being lifted. The China Index Academy – an independent real estate research firm – has released property sales data for 40 key cities from across the Labor Day holiday (April 29 to May 3). The verdict: Sales are growing, but they’r… Username… Read More »

The tide is rising in China's property market, but not all boats are being lifted.
The China Index Academy – an independent real estate research firm – has released property sales data for 40 key cities from across the Labor Day holiday (April 29 to May 3).
The verdict: Sales are growing, but they’r...

sources

The Paper: 五一假期重点城市新房成交量同比升25%，“很多楼盘推出了优惠活动”

May 5, 2023

Flash Talk | China Politics Update: Geopol roundup

In our latest biweekly Trivium China Politics Update, Trivium partner and co-founder Trey McArver chats to Trivium’s head of geopolitics research Joe Mazur about key developments in China’s international relations. Specifically, Joe and Trey discuss: Xi Jinping’s long-awaited call to Ukrainian Pre…

In our latest biweekly Trivium China Politics Update, Trivium partner and co-founder Trey McArver chats to Trivium's head of geopolitics research Joe Mazur about key developments in China's international relations.
Specifically, Joe and Trey discuss:

Xi Jinping's long-awaited call to Ukrainian Pre...

May 5, 2023

Feeling less optimistic

Business conditions in the manufacturing sector took a turn for the worse in April. The Caixin manufacturing Purchasing Managers’ Index (PMI) for April, released Thursday, fell to 49.5 from 50 in March and 51.6 in February. The official manufacturing PMI released by the stats bureau (NBS) – publishe…

Business conditions in the manufacturing sector took a turn for the worse in April.
The Caixin manufacturing Purchasing Managers’ Index (PMI) for April, released Thursday, fell to 49.5 from 50 in March and 51.6 in February.
The official manufacturing PMI released by the stats bureau (NBS) – publishe...

sources

Caixin: China’s Factory Activity Contracts Amid Weak Demand, Caixin PMI Shows

NBS: 2023年4月中国采购经理指数运行情况

May 4, 2023

Auditing the auditors

Beijing is tightening rules for how state-owned enterprises (SOEs) and mainland-listed companies select auditors. That’s according to measures published on Thursday by the Ministry of Finance (MoF), the securities regulator (CSRC), and the central SOE regulator (SASAC). Per their notice, the new …

Beijing is tightening rules for how state-owned enterprises (SOEs) and mainland-listed companies select auditors.

That’s according to measures published on Thursday by the Ministry of Finance (MoF), the securities regulator (CSRC), and the central SOE regulator (SASAC).

Per their notice, the new ...

sources

MoF: 关于印发《国有企业、上市公司选聘会计师事务所管理办法》的通知

May 4, 2023

German officials shoot down chip control rumor

On Thursday, rumors were flying that Germany is in early discussions to restrict China’s access to chemicals used for chip fabrication (Bloomberg). But: German officials shot down the rumor the next day (Reuters): “[Germany] is not currently pursuing any plans for an export ban on chip chemicals t…

On Thursday, rumors were flying that Germany is in early discussions to restrict China’s access to chemicals used for chip fabrication (Bloomberg).
But: German officials shot down the rumor the next day (Reuters):

“[Germany] is not currently pursuing any plans for an export ban on chip chemicals t...

sources

Bloomberg: Germany in Talks to Limit Export of Chip Chemicals to China

Reuters: Germany plays down report on banning chip chemicals to China

May 4, 2023

Paying data dividends

The Guiyang Big Data Exchange (GBDEx) wants to get you paid for your personal data. That’s the big idea of a new data product announced by GBDEx last week, which the exchange says is the first of its kind in China. Some context: Building out the data economy is a top priority for Beijing. … Read More »

The Guiyang Big Data Exchange (GBDEx) wants to get you paid for your personal data.
That’s the big idea of a new data product announced by GBDEx last week, which the exchange says is the first of its kind in China.
Some context: Building out the data economy is a top priority for Beijing.

Da...

sources

Sohu: 贵阳大数据交易所：全国首笔个人数据合规流转场内交易完成

May 4, 2023

Refining China’s ChatGPT rules

Last week, a group of prominent Chinese AI policy experts published recommendations on how the cyber cyberspace watchdog (CAC) could improve its recent draft rules on AI generated content (AIGC) services. AIGC includes tools like ChatGPT. Why it matters: The lead author of the recommendations is …

AIGC includes tools like ChatGPT.

Why it matters: The lead author of the recommendations is ...

sources

Hummingbird Club: 关于《生成式人工智能服务管理办法（征求意见稿）》的五点完善建议

The Paper: 张凌寒：平台治理与算法问责

CAC: 专家解读｜营造清朗网络空间引导深度合成向上向善

May 4, 2023

China warns Japan to keep chips flowing

The China Semiconductor Industry Association (CSIA) issued a harsh statement on Friday pressuring Japan to ease its upcoming restrictions on chip exports to China. Some context: In early April, Japan announced draft rules to add export controls to 23 high-tech items, including advanced semiconductor…

The China Semiconductor Industry Association (CSIA) issued a harsh statement on Friday pressuring Japan to ease its upcoming restrictions on chip exports to China.
Some context: In early April, Japan announced draft rules to add export controls to 23 high-tech items, including advanced semiconductor...

sources

CSIA: 中国半导体行业协会严正声明

May 4, 2023

Cleaning up the Burma road

China wants Myanmar to step up its law enforcement game. On Tuesday, Foreign Minister Qin Gang kicked off his Myanmar trip by meeting Senior General Min Aung Hlaing, head of the junta which ousted the elected government in February 2021. Some context: China and Myanmar are politically close, but Bei…

China wants Myanmar to step up its law enforcement game.
On Tuesday, Foreign Minister Qin Gang kicked off his Myanmar trip by meeting Senior General Min Aung Hlaing, head of the junta which ousted the elected government in February 2021.
Some context: China and Myanmar are politically close, but Bei...

sources

MoFA: Qin Gang: China Hopes Myanmar Will Crack Down on Internet Fraud

MoFA: Qin Gang Makes an Inspection Tour in the China-Myanmar Border Area in Yunnan

May 4, 2023

Galwanna talk about it?

The China-India border beef ain’t goin’ nowhere. Defense Minister Li Shangfu met his Indian counterpart Rajnath Singh in New Delhi on April 27. Some context: Li was in town for the Shanghai Cooperation Organization’s defense ministers’ summit. ICYDK: In recent years, there have been frequent, violen…

The China-India border beef ain’t goin’ nowhere.
Defense Minister Li Shangfu met his Indian counterpart Rajnath Singh in New Delhi on April 27.
Some context: Li was in town for the Shanghai Cooperation Organization’s defense ministers’ summit.
ICYDK: In recent years, there have been frequent, violen...

sources

Economic Times: India-China border situation 'generally stable': China's defence minister General Li Shangfu tells Rajnath Singh

The Times of India: First since Galwan clash, defence minister Rajnath Singh holds talks with Chinese counterpart Li Shangfu

May 4, 2023

Celebrating on the road

Domestic travel recovered to pre-COVID levels over the first post-zero-COVID Labor Day Holiday. The deets (Xinhua 1): Around 274 million people travelled domestically during the five-day holiday period, up 70.8% y/y, and 19.1% higher than in pre-pandemic 2019. Domestic tourism revenue hit RMB 148 b…

Domestic travel recovered to pre-COVID levels over the first post-zero-COVID Labor Day Holiday.
The deets (Xinhua 1):

Around 274 million people travelled domestically during the five-day holiday period, up 70.8% y/y, and 19.1% higher than in pre-pandemic 2019.
Domestic tourism revenue hit RMB 148 b...

sources

Xinhua: 2023年“五一”假期国内旅游出游2.74亿人次同比增长70.83%

Xinhua: “五一”假期期间预计全国营业性客运量超2.7亿人次

CCTV: 透过数据看“五一”出行旅游服务消费快速恢复

Gov.cn: 2021年全国旅游及相关产业增加值占GDP比重为3.96%

Gov.cn: 2019年全国旅游及相关产业增加值44989亿元

May 4, 2023

No man’s land

Despite an improving real estate market, developers remain hesitant to return to the land market. On Monday, the China Real Estate Information Corp. (CRIC) released a report on land purchases by China’s top 100 developers during the first four months of 2023. Some numbers: The value of newly purcha…

Despite an improving real estate market, developers remain hesitant to return to the land market.
On Monday, the China Real Estate Information Corp. (CRIC) released a report on land purchases by China’s top 100 developers during the first four months of 2023.
Some numbers:

The value of newly purcha...

sources

Sina: 前4个月百强房企新增货值约8264亿元，民企拿地积极性在复苏

MoF: 2023年一季度财政收支情况

Fangchan: 集中供地继续“升温”，国央企“撒网”南京

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