string(13) "markets-macro"

Macro

April 25, 2023

A tale of two Chinas

China’s economic picture is improving – depending on where you look. On Friday, Zeng Gang, deputy director of the National Institution for Finance and Development (NIFD), laid out three major macro risks facing China’s economy. ICYDK: The NIFD is a prominent state-affiliated think tank that advises … Username Password Remember Me Forgot Password

China’s economic picture is improving – depending on where you look.
On Friday, Zeng Gang, deputy director of the National Institution for Finance and Development (NIFD), laid out three major macro risks facing China’s economy.
ICYDK: The NIFD is a prominent state-affiliated think tank that advises ...

sources

Caixin: 曾刚：当前特殊资产行业面临三个重要的潜在机会

April 25, 2023

No gloves required

The e-CNY is safe. Thus spake Lü Yuan, an official at the Digital Currency Institute – a research institute in the central bank (PBoC) that spearheads e-CNY development – at a forum on Friday. Some context: China is co-developing a central bank digital currency (CBDC) clearing platform…

The e-CNY is safe.

Thus spake Lü Yuan, an official at the Digital Currency Institute – a research institute in the central bank (PBoC) that spearheads e-CNY development – at a forum on Friday.

Some context: China is co-developing a central bank digital currency (CBDC) clearing platform...

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Caixin: 央行数研所吕远：央行数字货币可有力支撑战略性互联互通

April 25, 2023

Prevent and diffuse

Guizhou – one of China’s most indebted provinces – needs help. On April 18, Guizhou signed a strategic cooperation agreement with China Cinda – one of China’s five central state-owned “bad banks” (AMCs) tasked with acquiring non-performing assets (Guizhou Daily). Details of the agreement weren’t ma…

Guizhou – one of China’s most indebted provinces – needs help.
On April 18, Guizhou signed a strategic cooperation agreement with China Cinda – one of China’s five central state-owned "bad banks" (AMCs) tasked with acquiring non-performing assets (Guizhou Daily).

Details of the agreement weren't ma...

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Guizhou Daily: 我省与中国信达资产管理股份有限公司签署战略合作协议

China Cinda: 中国信达组织金融专家团助力贵州区域发展

ADBC: 湛东升会见贵州省委常委、常务副省长吴强一行

April 25, 2023

Save less, spend more

Beijing wants to boost consumption by making saving less appealing. On Monday, Reuters reported that banks are being urged to cut deposit interest rates. Unnamed sources said bank members of the “interest rate self-regulatory mechanism” – an industry body organized by the central bank (PBoC) that m…

Beijing wants to boost consumption by making saving less appealing.
On Monday, Reuters reported that banks are being urged to cut deposit interest rates.

Unnamed sources said bank members of the "interest rate self-regulatory mechanism" – an industry body organized by the central bank (PBoC) that m...

sources

Reuters: Exclusive: China guides banks to further cut deposit rates – sources

April 25, 2023

Frontloading the love

Local governments haven’t wasted any time issuing special-purpose bonds (SPBs). Data from the finance ministry (MoF), released April 18, shows local governments issued RMB 1.32 trillion worth of SPBs in Q1 – 35% of their full-year quota of RMB 3.8 trillion. Bingo! In most years, SPB issuance starts …

Local governments haven’t wasted any time issuing special-purpose bonds (SPBs).
Data from the finance ministry (MoF), released April 18, shows local governments issued RMB 1.32 trillion worth of SPBs in Q1 – 35% of their full-year quota of RMB 3.8 trillion.
Bingo! In most years, SPB issuance starts ...

sources

MoF: 一季度全国财政收入回稳向上支出保持较高强度

April 25, 2023

Playing the IPv6+ card

China’s industrial regulator (MIIT) is launching a full-court press to establish Chinese dominance in new network protocols. On Sunday, the MIIT and several other agencies released a new policy designed to drive research and adoption of advanced IPv6 applications. What caught our eye: The policy’s…

China's industrial regulator (MIIT) is launching a full-court press to establish Chinese dominance in new network protocols.
On Sunday, the MIIT and several other agencies released a new policy designed to drive research and adoption of advanced IPv6 applications.
What caught our eye: The policy's...

sources

MIIT: 工业和信息化部等八部门关于推进IPv6技术演进和应用创新发展的实施意见

April 25, 2023

Telecom fingers in the AI pie

Why are China’s telecoms getting involved in generative AI? On Tuesday, Chinese media reported that China’s state-owned telecom majors have formed a new “GPT Industry Alliance.” Leading members include China Mobile Communications Federation, China Telecom, China Mobile, China Unicom, and China Rad…

Why are China's telecoms getting involved in generative AI?
On Tuesday, Chinese media reported that China's state-owned telecom majors have formed a new "GPT Industry Alliance."

Leading members include China Mobile Communications Federation, China Telecom, China Mobile, China Unicom, and China Rad...

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ITHome: 为 AI 立心，GPT 产业联盟正式成立：含中国电信、中国移动、中国联通、中国广电等企业

April 25, 2023

Forcing the e-CNY issue

The digital RMB (e-CNY) continues its ever-so-incremental roll out. On Sunday, Chinese media reported that under a new pilot, civil servant salaries in the city of Changshu will be paid exclusively in e-CNY. This is the first pilot of its kind nationwide. Some context: Several months back, Jiangsu…

This is the first pilot of its kind nationwide.

Some context: Several months back, Jiangsu...

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Baijiahao: 江苏常熟5月起公务员工资数字人民币发放

April 25, 2023

The fault in our STARs

China’s securities regulator (CSRC) is cracking down on IPO fraud. In a first for Shanghai’s Science and Technology Innovation Board (STAR Market), two companies are being delisted for deceiving investors, the commission announced on Friday. The terrible two: Pharmaceuticals software provider Esse…

China's securities regulator (CSRC) is cracking down on IPO fraud.
In a first for Shanghai’s Science and Technology Innovation Board (STAR Market), two companies are being delisted for deceiving investors, the commission announced on Friday.
The terrible two:

Pharmaceuticals software provider Esse...

sources

CSRC: 证监会有关部门负责人答记者问

The Paper: 科创板首批： *ST紫晶和*ST泽达将被实施重大违法强制退市

April 25, 2023

The chicken and egg problem

The e-CNY could drive cross-border payments in emerging markets. That’s according to Sun Mingchun, a former official at China’s forex regulator (SAFE), who said in a Sunday article that mBridge might help bolster the e-CNY’s use in cross-border transactions. Some context: mBridge is a central ban…

The e-CNY could drive cross-border payments in emerging markets.

That's according to Sun Mingchun, a former official at China’s forex regulator (SAFE), who said in a Sunday article that mBridge might help bolster the e-CNY’s use in cross-border transactions.

Some context: mBridge is a central ban...

sources

mPayPass: 孙明春等：“多边央行数字货币桥”助推人民币国际化的潜力与挑战

April 25, 2023

BYD or BMW?

When it comes to innovation, Chinese auto brands are leaving their foreign rivals in the dust, judging by the Shanghai Auto Show (April 18-27). Our review of the offerings on display finds that: Chinese brands are going all-in on new ideas – and potential emerging market segments, like electric min…

When it comes to innovation, Chinese auto brands are leaving their foreign rivals in the dust, judging by the Shanghai Auto Show (April 18-27).
Our review of the offerings on display finds that:

Chinese brands are going all-in on new ideas – and potential emerging market segments, like electric min...

sources

PC Auto: 上海车展重磅新车汇总上半年的重磅车都在这了

April 24, 2023

I got your sovereignty right here

Recently, it’s been one step forward and two steps back in EU-China relations. This was a case of the latter. On Friday, French broadcaster TF1 aired an interview with China’s ambassador to France, Lu Shaye, which contained une gaffe énorme. Asked about the legal status of the disputed territory o…

Recently, it’s been one step forward and two steps back in EU-China relations.

This was a case of the latter.

On Friday, French broadcaster TF1 aired an interview with China’s ambassador to France, Lu Shaye, which contained une gaffe énorme.
Asked about the legal status of the disputed territory o...

sources

SCMP: Baltic countries fume as China’s envoy in France Lu Shaye questions sovereignty of post-Soviet states

The Guardian: Baltic states condemn China envoy’s remarks over sovereignty of ex-Soviet nations

Twitter: Edgars Rinkēvičs' Twitter

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