string(13) "markets-macro"

Macro

March 17, 2023

Flash Talk | Key econ takeaways from the Two Sessions

In this Flash Talk, Trivium’s head of China Markets Research Dinny McMahon talks with Trivium Co-founder Andrew Polk about the National People’s Congress (NPC) and how it’s shaped our expectations for the year ahead. They discuss: China’s 2023 GDP growth… Username Password Remember Me Forgot Password

China’s 2023 GDP growth...

March 17, 2023

That’s a wrap! Our Two Sessions takeaways

In this live talk, Trivium partners Andrew Polk and Trey McArver dig through the entrails of multiple Two Sessions reports, announcements, and press conferences to discuss their big takeaways and what they mean for the year ahead. …

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March 17, 2023

Harry Potter and the hukou of Hangzhou

On Wednesday, Hangzhou’s municipal government introduced draft legislation to relax “hukou” requirements. ICYDK: Hukous are China’s unique system of household-based registration, binding social services to an individual’s registered locality. It’s difficult for a citizen to move and acquire a new h…

On Wednesday, Hangzhou's municipal government introduced draft legislation to relax "hukou" requirements.
ICYDK: Hukous are China's unique system of household-based registration, binding social services to an individual's registered locality.

It's difficult for a citizen to move and acquire a new h...

sources

Zhejiang Gov: 关于公开征求《关于进一步深化户籍制度改革的实施意见（征求意见稿）》意见的公告

Yicai: 又一特大城市放宽落户，十年来1.4亿农村人口落户城镇

March 16, 2023

Calling out Dell

On Wednesday, semiconductor consultancy ICWise issued an opinion piece encouraging Beijing to single out bad apples that damage China’s industrial supply chains. Why it matters: ICWise has the ears of local governments. Some context: Foreign multinationals are considering diversifying their s…

On Wednesday, semiconductor consultancy ICWise issued an opinion piece encouraging Beijing to single out bad apples that damage China’s industrial supply chains.
Why it matters: ICWise has the ears of local governments.
Some context: Foreign multinationals are considering diversifying their s...

sources

ICWise: 中国半导体反制的思考：需设立外企负面清单

March 16, 2023

Pedal to the metal (when appropriate)

China’s new premier Li Qiang has arrived in office brimming with ideas to improve governance, such as trying a more bottom-up approach. At his debut press conference on Monday, Li encouraged officials at all levels to become more creative when implementing policies (Gov.cn): “[We] are firmly oppose…

China's new premier Li Qiang has arrived in office brimming with ideas to improve governance, such as trying a more bottom-up approach.
At his debut press conference on Monday, Li encouraged officials at all levels to become more creative when implementing policies (Gov.cn):

"[We] are firmly oppose...

sources

Gov.cn: 国务院总理李强回答中外记者提问

March 16, 2023

Walking together to a better world

The US increasingly frames international relations as a zero sum game. But Xi Jinping says it doesn’t have to be that way. On Tuesday, Xi delivered a virtual speech at the second edition of the Party’s “Dialogue with World Political Parties High-level Meeting”. Political leaders from over 150 nati…

The US increasingly frames international relations as a zero sum game.
But Xi Jinping says it doesn't have to be that way.
On Tuesday, Xi delivered a virtual speech at the second edition of the Party's "Dialogue with World Political Parties High-level Meeting".

Political leaders from over 150 nati...

sources

Xinhua: 习近平在中国共产党与世界政党高层对话会上的主旨讲话（全文

People's Daily: 习近平出席中国共产党与世界政党高层对话会并发表主旨讲话

March 16, 2023

Farmers stuck on wrong side of the tracks

On Wednesday, top Party journal Qiushi published a speech Xi Jinping delivered at the Central Rural Work Conference (CRWC) back in December. Spoiler alert: Many of Xi’s talking points have already been translated into this year’s high-level rural policy agenda, the No. 1 Document. But we were stil…

On Wednesday, top Party journal Qiushi published a speech Xi Jinping delivered at the Central Rural Work Conference (CRWC) back in December.
Spoiler alert: Many of Xi's talking points have already been translated into this year's high-level rural policy agenda, the No. 1 Document.
But we were stil...

sources

Qiushi: 加快建设农业强国　推进农业农村现代化

March 16, 2023

No more naming and shaming

This year’s “315 Gala” was noticeably tame. Some context: Every March 15 – China’s Consumer Rights Day – consumer associations, government bodies, and media outlets turn the spotlight on shady business practices. The highlight is state broadcaster CCTV’s “315 Gala,” which exposes major consumer rig…

This year’s “315 Gala” was noticeably tame.
Some context: Every March 15 – China’s Consumer Rights Day – consumer associations, government bodies, and media outlets turn the spotlight on shady business practices.

The highlight is state broadcaster CCTV’s “315 Gala,” which exposes major consumer rig...

sources

36kr: 315晚会曝光全名单：直播、医美等行业野蛮行为该结束了

March 16, 2023

Out of the woods

On Thursday, China’s stats bureau released home price data for February. This follows the numbers on real estate activity for the first two months of 2023 published on Wednesday. Taken together, the data suggests that the sector is staging something of a recovery: Home prices recorded the first m…

On Thursday, China’s stats bureau released home price data for February.

This follows the numbers on real estate activity for the first two months of 2023 published on Wednesday.

Taken together, the data suggests that the sector is staging something of a recovery:

Home prices recorded the first m...

sources

NBS: 2023年2月份70个大中城市商品住宅销售价格变动情况

NBS: 2023年1—2月份全国房地产开发投资下降5.7%

March 16, 2023

No data for you

Financial regulators are tightening control over data flows. On Tuesday, Reuters scooped that the banking regulator (CBIRC) has instructed five of China’s six fixed-income brokers to halt their data feeds. The CBIRC reportedly cited “data security concerns” for the suspension. Some context: The fi…

The CBIRC reportedly cited “data security concerns” for the suspension.

Some context: The fi...

sources

Reuters: Chinese regulators ask money brokers to suspend data feed business - sources

Bloomberg: Traders in China’s $21 Trillion Bond Market Turn to WeChat After Some Price Feeds Halted

March 16, 2023

Ferrous Bueller’s Day Off

On Wednesday, Bloomberg cited anonymous sources saying that Beijing will cut annual crude steel output – for the third year in a row – to reduce carbon emissions. The sector is China’s second highest emitter of greenhouse gas emissions, only behind electricity generation. Let’s recap: China’s crud…

On Wednesday, Bloomberg cited anonymous sources saying that Beijing will cut annual crude steel output – for the third year in a row – to reduce carbon emissions.

The sector is China's second highest emitter of greenhouse gas emissions, only behind electricity generation.

Let's recap: China's crud...

sources

Bloomberg: China to Cut Steel Output For Third Year to Hit Green Goals

March 16, 2023

PBoC, cold warrior

The central bank (PBoC) is dipping its toes into geopolitics. On Wednesday, the PBoC published the readout of a meeting by its senior leadership to discuss the spirit of the Two Sessions. As you might guess, the leadership underscored stabilizing the economy as one of the top concerns. The PBoC said…

The central bank (PBoC) is dipping its toes into geopolitics.
On Wednesday, the PBoC published the readout of a meeting by its senior leadership to discuss the spirit of the Two Sessions.
As you might guess, the leadership underscored stabilizing the economy as one of the top concerns. The PBoC said...

sources

PBoC: 人民银行党委召开会议传达学习习近平总书记重要讲话和全国两会精神

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