string(13) "markets-macro"

Macro

March 13, 2023

Striking while the iron’s hot

Central regulators are pushing iron ore traders to stop hoarding the mineral substance, in an effort to cool the recent price spike. Some context: Iron ore prices have risen by more than 50% since October. The government is concerned because: Rising iron ore prices could reignite broader inflatio… Username Password Remember Me Forgot… Read More »

Rising iron ore prices could reignite broader inflatio...

sources

Bloomberg: China Tells Iron Ore Traders to Stop Hoarding After Rally

March 13, 2023

It’s peace on the streets and the peace in the Middle East

China just got a major win on the international stage. On Friday, China, Iran, and Saudi Arabia issued a trilateral statement announcing the resumption of diplomatic relations between the two Middle Eastern adversaries after a seven-year hiatus. The announcement came after four days of bilateral ta…

China just got a major win on the international stage.
On Friday, China, Iran, and Saudi Arabia issued a trilateral statement announcing the resumption of diplomatic relations between the two Middle Eastern adversaries after a seven-year hiatus.

The announcement came after four days of bilateral ta...

sources

Gov.cn: 王毅：沙伊北京对话是和平的胜利

March 13, 2023

Narrow focus

China’s central bank released credit data for February late on Friday. The headlines: Net new total social financing (TSF) hit 3.16 trillion vs the consensus forecast of RMB 2.20 trillion. Net new bank loans were RMB 1.81 trillion vs the consensus forecast of RMB 1.50 trillion. Credit growth accel…

China’s central bank released credit data for February late on Friday.
The headlines:

Net new total social financing (TSF) hit 3.16 trillion vs the consensus forecast of RMB 2.20 trillion.
Net new bank loans were RMB 1.81 trillion vs the consensus forecast of RMB 1.50 trillion.

Credit growth accel...

sources

PBoC: 2023年2月金融统计数据报告

Bloomberg: China’s Credit Climbs, Led by Companies, Local Governments

March 13, 2023

Retirement, postponed

We weren’t expecting this. On Sunday, Minister of Finance Liu Kun and central bank (PBoC) governor Yi Gang were both reappointed. All the signs indicated they’d be gone. Both had reached the normal retirement age (65) for ministerial-level officials. Neither was appointed to the Party Central Commi…

We weren't expecting this.
On Sunday, Minister of Finance Liu Kun and central bank (PBoC) governor Yi Gang were both reappointed.
All the signs indicated they'd be gone.

Both had reached the normal retirement age (65) for ministerial-level officials.
Neither was appointed to the Party Central Commi...

sources

Gov.cn: 快讯：大会经投票表决，决定国务院秘书长、各部部长、各委员会主任、中国人民银行行长、审计长

WSJ: China Retains Central Bank Governor During Regulatory Shake-Up

March 13, 2023

Getting the MoST from Wang Zhigang

All signs had pointed to current Minister of Science and Technology Wang Zhigang retiring at the end of this year’s Two Sessions. Surprise! Wang was reappointed on Sunday. Why that’s weird: At 65, Wang has already reached the retirement age for ministerial-level officials. He also lost his seat …

All signs had pointed to current Minister of Science and Technology Wang Zhigang retiring at the end of this year’s Two Sessions.
Surprise! Wang was reappointed on Sunday.
Why that's weird: At 65, Wang has already reached the retirement age for ministerial-level officials.

He also lost his seat ...

sources

Gov.cn: 快讯：大会经投票表决，决定国务院秘书长、各部部长、各委员会主任、中国人民银行行长、审计长

March 13, 2023

It takes two to tango, three to export control

The semiconductor export control kerfuffle is about to get…kerfuffler. On Friday, Bloomberg reported that Biden administration officials are notifying domestic semiconductor tool manufacturers that expanded export controls are in the works. Background: For the past several months, the US, Japan, …

The semiconductor export control kerfuffle is about to get...kerfuffler.
On Friday, Bloomberg reported that Biden administration officials are notifying domestic semiconductor tool manufacturers that expanded export controls are in the works.
Background: For the past several months, the US, Japan, ...

sources

Bloomberg: Japan Says No Decision Yet on Chip Export Restrictions

Bloomberg: Biden Administration Set to Further Tighten Chipmaking Exports to China

March 13, 2023

CAC whacks moles

On Sunday, the cyberspace regulator (CAC) announced a new campaign to clean up “self-media.” Some context: Self-media refers to public-facing online social media accounts created by individuals or small players. Think blogs or WeChat “public accounts” created by brands and small businesses. More c…

Think blogs or WeChat “public accounts” created by brands and small businesses.

More c...

sources

CAC: 中央网信办部署“清朗·从严整治‘自媒体’乱象”专项行动

CAC: 关于开展“清朗·从严整治‘自媒体’乱象”专项行动的通知

March 13, 2023

Gate. Horse. Bolted.

China’s central government is planning to dilute local authorities’ role in financial oversight to curb risks. ICYMI: Last Tuesday, the State Council announced an overhaul of financial sector regulation, which most notably included the creation of a new agency, the National Financial Regulation Admi…

China’s central government is planning to dilute local authorities’ role in financial oversight to curb risks.
ICYMI: Last Tuesday, the State Council announced an overhaul of financial sector regulation, which most notably included the creation of a new agency, the National Financial Regulation Admi...

sources

State Council: 受国务院委托肖捷作关于国务院机构改革方案的说明

March 13, 2023

Hidden in the cloud

Chinese AI companies on Washington’s Entity List have been evading US export controls with the help of state-backed cloud providers. That’s according to a report in Thursday’s FT. Some context: US export controls imposed in October block the export of semiconductor technology to China. That me…

Chinese AI companies on Washington's Entity List have been evading US export controls with the help of state-backed cloud providers. That's according to a report in Thursday's FT.
Some context: US export controls imposed in October block the export of semiconductor technology to China.

That me...

sources

FT: Chinese AI groups use cloud services to evade US chip export controls

March 12, 2023

Quick take | China’s newly minted National Data Administration

Here’s a fun fact for you: In 2020, 21.4% of all data generated on earth was generated in China. By 2025, it will produce more data than any country in the world. The question: So, what is China planning to do with its vast data wealth? The answer: What any modern socialist country would do… Read More »

Here's a fun fact for you: In 2020, 21.4% of all data generated on earth was generated in China.

By 2025, it will produce more data than any country in the world.

The question: So, what is China planning to do with its vast data wealth?
The answer: What any modern socialist country would do with a...

March 11, 2023

Staunching the bleeding

Local governments are now having difficulty attracting foreign investment in the semiconductor sector. That’s according to a new op-ed by Gu Wenjun, a chip industry advisor to local governments. The reason is pretty obvious: Rising geopolitical pressure from the United States. Some con…

Local governments are now having difficulty attracting foreign investment in the semiconductor sector.

That’s according to a new op-ed by Gu Wenjun, a chip industry advisor to local governments.

The reason is pretty obvious: Rising geopolitical pressure from the United States.
Some con...

sources

ICWise: 道不尽的半导体招商难

March 11, 2023

It’s not just about TikTok anymore

On Tuesday, US senators Mark Warner and John Thune announced they are launching a legislative proposal that would make it easier for the US government to ban TikTok… …and any other foreign technology seen as a national security threat. Get in line, gentlemen. This is only the latest in a barra…

On Tuesday, US senators Mark Warner and John Thune announced they are launching a legislative proposal that would make it easier for the US government to ban TikTok...

...and any other foreign technology seen as a national security threat.

Get in line, gentlemen. This is only the latest in a barra...

sources

Senate.gov: Senators Introduce Bipartisan Bill to Tackle National Security Threats from Foreign Tech

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