string(13) "markets-macro"

Macro

April 8, 2023

A more targeted approach

China’s economic recovery means businesses are selling more – and paying more taxes. And that’s giving Beijing room to scale back its generous tax relief policies. Officials from the tax bureau (STA) provided a status report at a press briefing on Thursday. STA director Wang Jun said tax data sho… Username Password Remember Me … Read More »

China's economic recovery means businesses are selling more – and paying more taxes.

And that's giving Beijing room to scale back its generous tax relief policies.

Officials from the tax bureau (STA) provided a status report at a press briefing on Thursday.
STA director Wang Jun said tax data sho...

sources

SCIO: 国新办举行“权威部门话开局”系列主题新闻发布会介绍“更好发挥税收职能作用更优服务经济社会高质量发展”有关情况

April 8, 2023

Nest egg slow to boil

Beijing has big plans for its new private pension system, but citizens have been slow on the uptake. Quick refresher: China launched a personal pension system in November to encourage individuals to save for their retirement. Contributions of up to RMB 12,000 a year are allowed and are tax-deducti…

Beijing has big plans for its new private pension system, but citizens have been slow on the uptake.
Quick refresher: China launched a personal pension system in November to encourage individuals to save for their retirement.

Contributions of up to RMB 12,000 a year are allowed and are tax-deducti...

sources

Caixin: 开户多、缴费少如何提升个人养老金参与意愿？

Securities Times: 首批个人养老金理财产品名单发布！工银理财、农银理财、中邮理财拔得“头筹”

April 8, 2023

Rare earth ructions

On Thursday, Western media exploded with (somewhat misleading) reports that China might ban rare earth exports. The original source is Nikkei, which (correctly) reported that in December, Beijing issued a draft update to a technology export restrictions list, which proposed limits on external sales …

On Thursday, Western media exploded with (somewhat misleading) reports that China might ban rare earth exports.
The original source is Nikkei, which (correctly) reported that in December, Beijing issued a draft update to a technology export restrictions list, which proposed limits on external sales ...

sources

Nikkei: China weighs export ban for rare-earth magnet tech

April 7, 2023

No more Mr. Nice Regulator

The Party’s anticorruption watchdog (CCDI) is increasing its scrutiny over the financial sector. Some context: Since taking over last October, CCDI secretary Li Xi has signaled the continuation – and intensification – of an ongoing crackdown across China’s financial system. Over the past week, the C…

The Party’s anticorruption watchdog (CCDI) is increasing its scrutiny over the financial sector.
Some context: Since taking over last October, CCDI secretary Li Xi has signaled the continuation – and intensification – of an ongoing crackdown across China’s financial system.
Over the past week, the C...

sources

SPP: 中国光大集团股份公司原党委书记、董事长李晓鹏接受中央纪委国家监委纪律审查和监察调查

Caixin: 政商 “旋转门” 典型原银监会农金部主任姜丽明被开除党籍

CCDI: 中国银行原党委书记、董事长刘连舸接受中央纪委国家监委纪律审查和监察调查

Caixin: 因包凡失联德勤拒签年报华兴资本停牌

NAFMII: 交易商协会对工商银行启动自律调查

CCDI: 坚决打赢反腐败斗争攻坚战持久战

April 7, 2023

Yi-xcellent work

China’s monetary policy trajectory will remain steady-as-she-goes. That was the message central bank (PBoC) governor Yi Gang delivered on Tuesday, at a joint conference between the China Society for Finance & Banking and the China Monetary & Financial Forum. Yi first laid out the central ban…

China’s monetary policy trajectory will remain steady-as-she-goes.
That was the message central bank (PBoC) governor Yi Gang delivered on Tuesday, at a joint conference between the China Society for Finance & Banking and the China Monetary & Financial Forum.
Yi first laid out the central ban...

sources

PBoC: 建设现代中央银行制度更好服务中国式现代化——易纲行长在2023中国金融学会学术年会暨中国金融论坛年会上的讲话

April 7, 2023

Get pumped

On Monday, oil and gas giant Sinopec signed a cooperation agreement with Changan, one of China’s top five new energy vehicle (NEV) brands. The details: Sinopec’s convenience store subsidiary Easy Joy will collaborate with Changan to create more exciting gas and charging stations. The jointly deve…

On Monday, oil and gas giant Sinopec signed a cooperation agreement with Changan, one of China's top five new energy vehicle (NEV) brands.

The details: Sinopec's convenience store subsidiary Easy Joy will collaborate with Changan to create more exciting gas and charging stations.

The jointly deve...

sources

Xinhua: 中石化易捷携手长安汽车探索加油站购车新模式

April 7, 2023

The view from the bottom

On Tuesday, China held its second annual Industrial Chain Innovation and Development Summit. The focus: How to achieve the 20th Party Congress’s goal of building a high-tech, high-quality industrial economy by 2035. On hand to map out the road to achieving Beijing’s ambitions was Chen Xuedong, direc…

On Tuesday, China held its second annual Industrial Chain Innovation and Development Summit.
The focus: How to achieve the 20th Party Congress's goal of building a high-tech, high-quality industrial economy by 2035.
On hand to map out the road to achieving Beijing's ambitions was Chen Xuedong, direc...

sources

Xinhua: 中国工程院院士陈学东：实现制造强国需要久久为功

April 6, 2023

Quick Take | The TikTok tipping point

It probably won’t shock you to hear that the Chinese government is none too happy about recent efforts by the US to either ban TikTok or force its Chinese shareholders to divest. Which begs the question: Which of those potential outcomes – a ban or a forced divestiture – would anger Beijing more, an…

It probably won't shock you to hear that the Chinese government is none too happy about recent efforts by the US to either ban TikTok or force its Chinese shareholders to divest.
Which begs the question: Which of those potential outcomes - a ban or a forced divestiture - would anger Beijing more, an...

sources

Xiaobei Talks Security: TikTok过堂，美国国会到底几个意思？

People's Daily: “放下包袱，大胆发展”（两会现场观察

MofCom: 商务部召开例行新闻发布会（2023年3月23日）

April 6, 2023

Quick take | New money: Beijing’s evolving campaign to reshape China’s financial sector

Over the past five years, regulators have substantially reduced the size of China’s shadow banking sector, recapitalized problematic banks, and in general made the financial system far less risky. Recent developments have led us to believe that the next few years will be similarly eventful for China…

Over the past five years, regulators have substantially reduced the size of China’s shadow banking sector, recapitalized problematic banks, and in general made the financial system far less risky.
Recent developments have led us to believe that the next few years will be similarly eventful for China...

April 5, 2023

Deepfaking China out

On Thursday, the Washington Post reported that US-based generative AI company Midjourney was criticized for pandering to Chinese regulators. The issue: Midjourney was blocking users – inside and outside China – from creating deepfakes of Xi Jinping. But users were free to make images of Putin, Bide…

On Thursday, the Washington Post reported that US-based generative AI company Midjourney was criticized for pandering to Chinese regulators.
The issue: Midjourney was blocking users – inside and outside China – from creating deepfakes of Xi Jinping.

But users were free to make images of Putin, Bide...

sources

Washington Post: How a tiny company with few rules is making fake images go mainstream

Twitter: sarahemclaugh

April 5, 2023

Preaching the “Digital China” gospel

In a press conference on Monday, the Ministry of Science and Technology (MoST) and the Ministry of Industry and Information Technology (MIIT) championed their plans for the digital economy. Some context: In February, the State Council pulled together earlier efforts to infuse digital technology…

In a press conference on Monday, the Ministry of Science and Technology (MoST) and the Ministry of Industry and Information Technology (MIIT) championed their plans for the digital economy.
Some context: In February, the State Council pulled together earlier efforts to infuse digital technology...

sources

SCIO: 国新办举行第六届数字中国建设峰会新闻发布会图文实录

April 5, 2023

Business most definitely not as usual

The Ministry of Foreign Affairs wants you to know that the cybersecurity probe into Micron isn’t politically motivated. Some context: Last Friday, China’s cybersecurity watchdog announced a probe into Micron, a move that sent chills through the foreign business community. More context: In China, M…

The Ministry of Foreign Affairs wants you to know that the cybersecurity probe into Micron isn't politically motivated.
Some context: Last Friday, China's cybersecurity watchdog announced a probe into Micron, a move that sent chills through the foreign business community.
More context: In China, M...

sources

MoFA: Foreign Ministry Spokesperson Mao Ning’s Regular Press Conference on April 3, 2023

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