string(13) "markets-macro"

Macro

April 21, 2023

Hit the road Jieke

China’s people just can’t wait to pack their things and go. With the Labor Day holiday around the corner (April 29-May 3), many online travel agencies are reporting strong sales for trips within China and overseas (The Paper). Some context: The same holiday in 2022 posted disappointing data thanks t… Username Password Remember Me … Read More »

China's people just can’t wait to pack their things and go.
With the Labor Day holiday around the corner (April 29-May 3), many online travel agencies are reporting strong sales for trips within China and overseas (The Paper).
Some context: The same holiday in 2022 posted disappointing data thanks t...

sources

The Paper: 机票、酒店、景区都很热！“五一”国内游预订全线超越2019年

NBS: 【数据发布】2023年一季度国内生产总值初步核算结果

April 21, 2023

Yellen foretellin’ some buyin’ and sellin’

You don’t see this every day. China and the US may actually be trying to find common ground. On Thursday, a spokesperson for China’s Ministry of Commerce (MoFCOM) briefed the press on talks between US and Chinese trade officials in Beijing last week. On the agenda (Global Times): “[S]trengthening c…

You don't see this every day.
China and the US may actually be trying to find common ground.
On Thursday, a spokesperson for China’s Ministry of Commerce (MoFCOM) briefed the press on talks between US and Chinese trade officials in Beijing last week.
On the agenda (Global Times):

“[S]trengthening c...

sources

Global Times: Chinese, US trade officials meet in Beijing amid growing talks of high-level visits

SCMP: US Commerce Secretary Gina Raimondo considering China trip this year

US Treasury: Remarks by Secretary of the Treasury Janet L. Yellen on the U.S. - China Economic Relationship at Johns Hopkins School of Advanced International Studies

April 21, 2023

A pig mess

Ag officials want everyone to stop sweating over swine. On Thursday, Zeng Yande, chief agronomist at the Ministry of Agriculture and Rural Affairs (MARA), helmed a press conference on the Q1 economic data – and addressed the pig in the room. According to Zeng, overall, things are looking good: The…

Ag officials want everyone to stop sweating over swine.
On Thursday, Zeng Yande, chief agronomist at the Ministry of Agriculture and Rural Affairs (MARA), helmed a press conference on the Q1 economic data – and addressed the pig in the room.
According to Zeng, overall, things are looking good:

The...

sources

Gov.cn: 国务院新闻办就2023年一季度农业农村经济运行情况举行发布会

April 21, 2023

China loves foreign investment

Foreign investors are responding to China’s “We love and want foreign investment” campaign. That’s according to the commerce ministry (MofCom). ICYDK: In late March, He Lifeng, vice premier and econ tzar, declared 2023 “Invest in China Year,” promising a yearlong initiative to attract overseas cap…

Foreign investors are responding to China's "We love and want foreign investment" campaign.
That's according to the commerce ministry (MofCom).
ICYDK: In late March, He Lifeng, vice premier and econ tzar, declared 2023 “Invest in China Year,” promising a yearlong initiative to attract overseas cap...

sources

MofCom: 商务部召开例行新闻发布会（2023年4月20日）

April 21, 2023

Don’t mention the “D” word

Everybody chill – there’s no threat of deflation in China. That’s according to Ruan Jianhong, director of the central bank’s (PBoC) statistics department, who spoke at a PBoC press conference on Thursday. Some context: China has experienced low consumer price inflation (CPI) and an outright drop in …

Everybody chill – there's no threat of deflation in China.
That's according to Ruan Jianhong, director of the central bank's (PBoC) statistics department, who spoke at a PBoC press conference on Thursday.
Some context: China has experienced low consumer price inflation (CPI) and an outright drop in ...

sources

PBoC: 2023年一季度金融统计数据新闻发布会文字实录

April 21, 2023

Show me the money (supply)

On Thursday, the central bank (PBoC) attempted to address the mystery of diverging money supply data. TLDR: Nothing to worry about, folks! The mystery: Bank lending has surged this year, which should mean fast money supply growth. However, growth in M1 – which includes cash and demand deposits – ha…

On Thursday, the central bank (PBoC) attempted to address the mystery of diverging money supply data.
TLDR: Nothing to worry about, folks!
The mystery: Bank lending has surged this year, which should mean fast money supply growth.

However, growth in M1 – which includes cash and demand deposits – ha...

sources

PBoC: 2023年一季度金融统计数据新闻发布会文字实录

April 21, 2023

Shanghai joins the supercomputing race

Heavens, this is interesting. On Wednesday, the Shanghai municipal government released the details of its plan to plug into the National Unified Computing Power Network (NUCPN). Some context: China is in the early stages of a massive push to interconnect key data centers across the country. The …

Heavens, this is interesting.
On Wednesday, the Shanghai municipal government released the details of its plan to plug into the National Unified Computing Power Network (NUCPN).
Some context: China is in the early stages of a massive push to interconnect key data centers across the country.

The ...

sources

People's Daily: 上海成立公共算力服务平台

Shanghai.gov: 上海市经济信息化委关于印发《上海市推进算力资源统一调度指导意见》的通知

April 21, 2023

Hangzhou doubles down on insurance demands

On Wednesday, the Hangzhou municipal government explained how it was tightening requirements for companies to provide food delivery drivers with social insurance. Some context: For the past several years, Party leaders have pushed platforms to offer social insurance benefits to drivers they employ….

On Wednesday, the Hangzhou municipal government explained how it was tightening requirements for companies to provide food delivery drivers with social insurance.
Some context: For the past several years, Party leaders have pushed platforms to offer social insurance benefits to drivers they employ....

sources

Hangzhou: 杭州市网络餐饮外卖配送监督管理办法

The Paper: 杭州明确外卖配送员权益：涉及劳动合同、保险、报酬等

April 21, 2023

Ant’s crawling back

Officials are trying to bolster confidence in the private sector – and Ant might stand to benefit. On Tuesday, Reuters reported that financial regulators are considering wrapping up Ant Group’s regulatory overhaul with a lower fine than initially planned. Recap: In 2020, Beijing started a sweeping –…

Officials are trying to bolster confidence in the private sector – and Ant might stand to benefit.
On Tuesday, Reuters reported that financial regulators are considering wrapping up Ant Group’s regulatory overhaul with a lower fine than initially planned.
Recap: In 2020, Beijing started a sweeping –...

sources

Reuters: Exclusive: China expected to lower fine on Ant Group to about $700 million

April 21, 2023

Stepping up to the digital plate

On Tuesday, the national prosecutor’s office (SPP) published high-level plans to beef up their participation in the enforcement of data and internet governance. Some context: As legislators pen an ever-growing list of internet laws, sticky legal disputes over data-related IP and abuse of algorithms…

On Tuesday, the national prosecutor's office (SPP) published high-level plans to beef up their participation in the enforcement of data and internet governance.
Some context: As legislators pen an ever-growing list of internet laws, sticky legal disputes over data-related IP and abuse of algorithms...

sources

SPP: 关于加强新时代检察机关网络法治工作的意见

April 20, 2023

What are friends for?

China’s doubling down on its ties with Africa. On Wednesday, Xi Jinping met Gabonese President Ali Bongo Ondimba who was in Beijing as part of a four-day China visit. Some context: Bongo is a man on a mission. Since assuming office in 2009, after his father’s 42-year rule, he’s focused on diversify…

Since assuming office in 2009, after his father's 42-year rule, he's focused on diversify...

sources

Xinhua: Chinese, Gabonese presidents hold talks, decide to upgrade bilateral partnership

SCMP: Xi calls for upgrade to China-Gabon ties in talks with ‘old friend’ Bongo

April 20, 2023

With great power comes greater scrutiny, Part II

Memo to corrupt executives at state-owned enterprises (SOEs): Your days are numbered. On Monday, the state-owned asset regulator (SASAC) issued a notice that it will hold central SOEs accountable for illegal operations and investments. Some context: Beijing is increasing scrutiny of the financial se…

Memo to corrupt executives at state-owned enterprises (SOEs): Your days are numbered.
On Monday, the state-owned asset regulator (SASAC) issued a notice that it will hold central SOEs accountable for illegal operations and investments.
Some context: Beijing is increasing scrutiny of the financial se...

sources

Caixin: 年度央企违规追责重点发布资金资源密集领域受关注

SASAC: 关于做好2023年中央企业违规经营投资责任追究工作的通知

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