string(13) "markets-macro"

Macro

April 12, 2023

We don’t mean to burst your AI bubble

On Monday, Chinese state media poured cold water on red-hot AI technology stocks. Some context: Regular Tech Daily readers already know that ChatGPT fever has hit China as hard as anywhere else. That’s despite tech and regulatory uncertainties. The ChatGPT frenzy has driven a massive boom in AI te… Username Password Remember Me … Read More »

On Monday, Chinese state media poured cold water on red-hot AI technology stocks.
Some context: Regular Tech Daily readers already know that ChatGPT fever has hit China as hard as anywhere else.

That’s despite tech and regulatory uncertainties.

The ChatGPT frenzy has driven a massive boom in AI te...

sources

Economic Daily: 热捧人工智能需防泡沫

Bloomberg: China AI Stocks Sink on Call for State to Stem Bubble Risk

SCMP: China sees spike in companies with blockchain in their name

April 12, 2023

What can I say except bu yong xie?

On Thursday, Foreign Minister Qin Gang hosted his Saudi and Iranian counterparts in Beijing. That’s a big deal: This was the first meeting in more than seven years between the FMs of the Kingdom and the Islamic Republic. ICYMI: Last month, China facilitated a rapprochement between the regional archr…

On Thursday, Foreign Minister Qin Gang hosted his Saudi and Iranian counterparts in Beijing.
That’s a big deal: This was the first meeting in more than seven years between the FMs of the Kingdom and the Islamic Republic.
ICYMI: Last month, China facilitated a rapprochement between the regional archr...

sources

MoFA: Qin Gang Has a Group Meeting with Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan Al Saud and Iranian Foreign Minister Hossein Amir-Abdollahian

Reuters: Top Iranian, Saudi envoys meet in China in restoration of diplomatic ties

April 12, 2023

Saving drones

China’s leaders have decided that the nation’s world-leading drone industry needs more protection. At a State Council executive meeting on Friday, Premier Li Qiang finalized a policy to support drone use and development. Background: China’s drone industry has soared to number one (Droneii). Domesti…

China’s leaders have decided that the nation's world-leading drone industry needs more protection.
At a State Council executive meeting on Friday, Premier Li Qiang finalized a policy to support drone use and development.
Background: China’s drone industry has soared to number one (Droneii).

Domesti...

sources

Gov.cn: 李强主持召开国务院常务会议研究推动外贸稳规模优结构的政策措施等

NPC: 制定无人机飞行管理法明确飞行管理主管部门

Droneii: The Chinese Drone Market Report 2019-2024

April 12, 2023

Hustles (not muscles) to win over Brussels

On Thursday, Xi Jinping and Premier Li Qiang met European Commission President Ursula von der Leyen (VDL) in Beijing. It was VDL’s first China visit as Commission chief, and first in-person meeting with Xi. Good cop, bad cop: VDL traveled with French President Emmanuel Macron, who’s been vocal ab…

On Thursday, Xi Jinping and Premier Li Qiang met European Commission President Ursula von der Leyen (VDL) in Beijing.

It was VDL's first China visit as Commission chief, and first in-person meeting with Xi.

Good cop, bad cop: VDL traveled with French President Emmanuel Macron, who's been vocal ab...

sources

MoFA: Xi Jinping Meets with President of the European Commission Ursula von der Leyen

MoFA: Li Qiang Meets with President of the European Commission Ursula von der Leyen

European Commission: Speech by President von der Leyen on EU-China relations to the Mercator Institute for China Studies and the European Policy Centre

April 12, 2023

Worrying Li

Premier Li Qiang has college grads on his mind. At Friday’s State Council executive meeting, Li announced measures to help graduates from families with financial difficulties, including (Gov.cn): Continuing to exempt fresh graduates from student loan interest payments this year Allowing them to a…

Premier Li Qiang has college grads on his mind.
At Friday’s State Council executive meeting, Li announced measures to help graduates from families with financial difficulties, including (Gov.cn):

Continuing to exempt fresh graduates from student loan interest payments this year

Allowing them to a...

sources

Gov.cn: 李强主持召开国务院常务会议研究推动外贸稳规模优结构的政策措施等

April 11, 2023

Literally putting Xi front and center

Your Trivium team scours high and low to ensure you stay on top of PRC policy. Here’s the latest (little reported) nugget we found: The central government’s main website (Gov.cn) recently underwent a significant overhaul. The big change: Previously, at the top of the site’s homepage was a prominent …

Your Trivium team scours high and low to ensure you stay on top of PRC policy.
Here's the latest (little reported) nugget we found: The central government's main website (Gov.cn) recently underwent a significant overhaul.
The big change: Previously, at the top of the site's homepage was a prominent ...

sources

Gov.cn: 中华人民共和国中央人民政府

Gov.cn: 中国政府网/头条

April 11, 2023

Distinctly disinflationary

On Tuesday, China’s stats bureau released the inflation data for March. The headlines (NBS): The consumer price index (CPI) rose 0.7% y/y in March, down from 1.0% in February. The producer price index (PPI) fell 2.5% y/y in March, compared with a 1.4% y/y decline in February. Weaker consumer price…

On Tuesday, China’s stats bureau released the inflation data for March.
The headlines (NBS):

The consumer price index (CPI) rose 0.7% y/y in March, down from 1.0% in February.
The producer price index (PPI) fell 2.5% y/y in March, compared with a 1.4% y/y decline in February.

Weaker consumer price...

sources

NBS: 2023年3月份居民消费价格同比上涨0.7% 环比下降0.3%

NBS: 2023年3月份工业生产者出厂价格同比下降2.5% 环比持平

April 11, 2023

Registration nation

China has officially done away with its clunky old IPO system. The first round of companies to IPO on the main stock exchange boards under the new registration-based system began trading on Monday. ICYDK: Under a registration-based system, exchanges – rather than regulators – evaluate IPO candidates…

China has officially done away with its clunky old IPO system.
The first round of companies to IPO on the main stock exchange boards under the new registration-based system began trading on Monday.
ICYDK: Under a registration-based system, exchanges – rather than regulators – evaluate IPO candidates...

sources

CSRC: 易会满主席在沪深交易所主板注册制首批企业上市仪式上的致辞

Caixin: 首批主板注册制10只新股上市全面超涨（更新）

April 11, 2023

Back on board the hydrogen hype train

China’s green hydrogen industry is getting a backbone. On Monday, petrochemicals giant Sinopec confirmed it’s building a 400 km hydrogen pipeline. The pipeline will connect Inner Mongolia – China’s emerging green hydrogen production hub – to Beijing, from where future pipelines will distribute the …

China's green hydrogen industry is getting a backbone.
On Monday, petrochemicals giant Sinopec confirmed it's building a 400 km hydrogen pipeline.

The pipeline will connect Inner Mongolia – China's emerging green hydrogen production hub – to Beijing, from where future pipelines will distribute the ...

sources

Xinhua: 我国首条“西氢东送”管道纳入国家规划

April 11, 2023

Wrong, wrong, wrong

Some measures to boost consumption fall well short of the mark. That was the message from Liu Shijin, deputy director of the Economic Committee at China’s main political advisory body (the CPPCC), speaking on April 4. ICYDK: Liu was a deputy director of the State Council’s in-house think tank for te…

Some measures to boost consumption fall well short of the mark.
That was the message from Liu Shijin, deputy director of the Economic Committee at China’s main political advisory body (the CPPCC), speaking on April 4.
ICYDK: Liu was a deputy director of the State Council’s in-house think tank for te...

sources

Yicai: 刘世锦：政府应在消费方面管得多一些，投资上管得少一些

April 11, 2023

Consume, please

China’s leaders have repeatedly promised to make consumption a driver of economic growth this year. On Monday, Vice Premier He Lifeng – who oversees the econ and finance portfolio – lent his voice to the chorus. Speaking at the opening ceremony of the China International Consumer Product Expo in Hai…

China’s leaders have repeatedly promised to make consumption a driver of economic growth this year.
On Monday, Vice Premier He Lifeng – who oversees the econ and finance portfolio – lent his voice to the chorus.
Speaking at the opening ceremony of the China International Consumer Product Expo in Hai...

sources

SCMP: China’s recovery, expansion of consumption ‘topmost priority’, Vice-Premier He Lifeng says, as major expo returns

State Council: 何立峰在第三届中国国际消费品博览会暨全球消费论坛开幕式上发表视频致辞

April 11, 2023

Semiconductor standards in Beijing’s image

Last Thursday, experts convened in Beijing for the inaugural meeting of the National Integrated Circuit Standardization Technical Committee (NICSTC). Some context: China’s market regulator (SAMR) approved the formation of the committee formation in November. More context: The committee is made up 5…

Last Thursday, experts convened in Beijing for the inaugural meeting of the National Integrated Circuit Standardization Technical Committee (NICSTC).
Some context: China’s market regulator (SAMR) approved the formation of the committee formation in November.
More context: The committee is made up 5...

sources

MIIT: 全国集成电路标准化技术委员会成立大会暨一届一次全体委员会议在京召开

ITHome: 海思、中芯国际、华为、小米等筹建，全国集成电路标准化技术委员会正式成立

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