string(13) "markets-macro"

Macro

March 21, 2023

Hui Ka Yan, a plan, Evergrande

Evergrande is inching closer to restructuring its USD 22.7 billion in offshore debt. At a Monday court hearing in Hong Kong, the beaten-down developer said it will release a restructuring plan for the debt by the end of March. The Hong Kong court also postponed the hearing on the winding up petition… Username Password Remember… Read More »

Evergrande is inching closer to restructuring its USD 22.7 billion in offshore debt.
At a Monday court hearing in Hong Kong, the beaten-down developer said it will release a restructuring plan for the debt by the end of March.
The Hong Kong court also postponed the hearing on the winding up petition...

sources

WSJ: Chinese Developer Evergrande Nears Landmark Restructuring Deal

21st Century Biz: 获主要债权人支持，中国恒大清盘聆讯第四次延期

SCMP: China Evergrande aims for offshore debt restructuring agreement with creditors by end of March, Hong Kong court hears

March 21, 2023

Former chip exec accused of corruption

Things just went from bad to worse for another former chip exec. On Monday, the state anti-corruption watchdog (NSC) announced that Zhao Weiguo – the former chairman of state-owned semiconductor holding company Tsinghua Unigroup – is about to be formally prosecuted. ICYMI: Zhao was arrested eight mo…

Things just went from bad to worse for another former chip exec.
On Monday, the state anti-corruption watchdog (NSC) announced that Zhao Weiguo – the former chairman of state-owned semiconductor holding company Tsinghua Unigroup – is about to be formally prosecuted.
ICYMI: Zhao was arrested eight mo...

sources

CCDI: 紫光集团有限公司原董事长赵伟国涉嫌职务犯罪被移送检察机关审查起诉

March 21, 2023

TikTok’s UK clock’s still ticking

On Thursday, the British government announced it will ban TikTok on government smart phones. Background: Over the last several months, TikTok has been banned on government devices in the US, Australia, New Zealand, and Canada. In the US, the Biden administration is reportedly calling for a full co…

On Thursday, the British government announced it will ban TikTok on government smart phones.
Background: Over the last several months, TikTok has been banned on government devices in the US, Australia, New Zealand, and Canada.

In the US, the Biden administration is reportedly calling for a full co...

sources

The Times: UK government bans TikTok from officials’ phones

The Guardian: TikTok bans on Australian government-issued phones should be extended to other apps, experts say

The Guardian: New Zealand to ban TikTok from government devices

BBC: Canada bans TikTok on government devices

March 21, 2023

Caught in the middle

On Saturday, Japanese trade official Naoki Yoshiike told Chinese media outlet Caixin that he’s not a fan of tech decoupling between China and Japan. Yoshiike works at the Japan External Trade Organization (JETO), which oversees the government body in charge of export controls. Some context: Earl…

On Saturday, Japanese trade official Naoki Yoshiike told Chinese media outlet Caixin that he’s not a fan of tech decoupling between China and Japan.

Yoshiike works at the Japan External Trade Organization (JETO), which oversees the government body in charge of export controls.

Some context: Earl...

sources

Caixin: 美拉拢日荷限制半导体对华出口，日本业界如何看

Caixin: 最新财新周刊｜美日荷博弈对华出口管制

March 21, 2023

Reopening the financial data tap

It’s been a crazy few days for China’s bond traders – but things might now be getting back to normal. Quick recap: On Wednesday, financial regulators abruptly shut down the operations of third-party bond market data providers, including the three most popular – Quebee, Wind, and Dealing Matrix….

It's been a crazy few days for China's bond traders – but things might now be getting back to normal.
Quick recap: On Wednesday, financial regulators abruptly shut down the operations of third-party bond market data providers, including the three most popular – Quebee, Wind, and Dealing Matrix....

sources

Caixin: 最新财新周刊｜货币经纪报价系统暂停风波

March 21, 2023

Home Alone 4: Kevin checks into a “gaming hotel”

Last Friday, China’s Ministry of Culture and Tourism (MoCT) released new regulations about kids staying at “gaming hotels.” Context: Offering fast internet and a place to sleep, gaming hotels have risen in popularity over the past several years alongside China’s burgeoning e-sports scene. They…

Last Friday, China's Ministry of Culture and Tourism (MoCT) released new regulations about kids staying at "gaming hotels."
Context: Offering fast internet and a place to sleep, gaming hotels have risen in popularity over the past several years alongside China's burgeoning e-sports scene.

They...

sources

Ministry of Culture and Tourism: 文化和旅游部等部门就加强电竞酒店未成年人保护工作公开征求意见

March 20, 2023

Pig trouble

China’s pig farmers are battling a new wave of African Swine Fever (ASF), according to international media reports. ICYDK: ASF was first detected in China in summer 2018, and by late 2019 it had wiped out nearly half of the country’s swine herd. By 2020, large pig farming companies sorted out how t…

China's pig farmers are battling a new wave of African Swine Fever (ASF), according to international media reports.
ICYDK: ASF was first detected in China in summer 2018, and by late 2019 it had wiped out nearly half of the country's swine herd.

By 2020, large pig farming companies sorted out how t...

sources

Reuters: China's pig farms battle new surge in African swine fever

Bloomberg: China’s Latest Battle With African Swine Fever to Push Up Prices

Global Times: China’s hog production remains stable, resilient despite reported African swine fever disruption: industry insiders

MARA: 3月份第2周畜产品和饲料集贸市场价格情况

March 20, 2023

A big project

Get ready for the world’s largest rare earth production base. That’s what China Northern Rare Earth (Group) High-Tech Co. (CNRE) says it’s going to build in Baotou, Inner Mongolia. Some deets about the mega-project: It’s already gotten approval from the provincial industry regulator. It will so…

Get ready for the world's largest rare earth production base.

That's what China Northern Rare Earth (Group) High-Tech Co. (CNRE) says it's going to build in Baotou, Inner Mongolia.

Some deets about the mega-project:

It's already gotten approval from the provincial industry regulator.
It will so...

sources

The Paper: 北方稀土拟投78亿升级绿色冶炼：全球规模最大稀土原料生产基地

March 20, 2023

New Premier reinforces Party dominance

For the avoidance of doubt: Follow the Party in all matters. That was the message from Premier Li Qiang on Friday at the first plenary meeting of the new State Council. Li positioned the State Council as the Party’s enforcer (Gov.cn): “The job of this government is to carry out well and implement w…

For the avoidance of doubt: Follow the Party in all matters.
That was the message from Premier Li Qiang on Friday at the first plenary meeting of the new State Council.
Li positioned the State Council as the Party's enforcer (Gov.cn):

“The job of this government is to carry out well and implement w...

sources

Gov.cn: 李强主持召开国务院第一次全体会议

March 20, 2023

Taking control, part 2

The second half of the five-year institutional overhaul of the Party and the government dropped on Thursday. As we noted on Friday, among the changes are the creation of two finance-focused Party commissions (Xinhua): The Central Financial Commission (CFC) – responsible for financial stability and…

The second half of the five-year institutional overhaul of the Party and the government dropped on Thursday.
As we noted on Friday, among the changes are the creation of two finance-focused Party commissions (Xinhua):

The Central Financial Commission (CFC) – responsible for financial stability and...

sources

Xinhua: 中共中央国务院印发《党和国家机构改革方案》

Guangming Daily: 中央金融工委和金融机构党委成立

March 20, 2023

Tell it like it is, citizen

The Party wants to hear your opinion. That’s the spirit of a work plan released by the Party Central Committee on Sunday, which called on all Party cadres to “promote the practice of research and study.” That was quick: A week earlier, at his debut press conference, new Premier Li Qiang called on of…

The Party wants to hear your opinion.
That's the spirit of a work plan released by the Party Central Committee on Sunday, which called on all Party cadres to "promote the practice of research and study."
That was quick: A week earlier, at his debut press conference, new Premier Li Qiang called on of...

sources

Gov.cn: 中共中央办公厅印发《关于在全党大兴调查研究的工作方案》

March 20, 2023

To Russia with love

Xi Jinping is about to get more face time with his Russian counterpart and “best friend” Vladimir Putin. On Friday, China’s foreign ministry (MoFA) confirmed Xi will touch down in Russia today for a three-day state visit. According to the Kremlin, during Xi’s visit, Xi and Putin will (Moscow Times):…

Xi Jinping is about to get more face time with his Russian counterpart and "best friend" Vladimir Putin.
On Friday, China's foreign ministry (MoFA) confirmed Xi will touch down in Russia today for a three-day state visit.
According to the Kremlin, during Xi's visit, Xi and Putin will (Moscow Times):...

sources

MoFA: 习近平将对俄罗斯进行国事访问

Moscow Times: China's Xi to Visit Russia on March 20-22, Kremlin Says

People's Daily: 外交部发言人：习近平主席此次访俄，也是为了和平而去

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