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Macro

February 28, 2023

Flash Talk | China’s Ukraine outlook

A full year after Russia launched its invasion of Ukraine, Beijing’s position on the conflict has changed little. Unwilling to dump its most important strategic partner, China is doubling down on support for Moscow despite mounting Western criticism. In this flash talk, Trivium Partner Trey McA… Username Password Remember Me Forgot Password

A full year after Russia launched its invasion of Ukraine, Beijing's position on the conflict has changed little. Unwilling to dump its most important strategic partner, China is doubling down on support for Moscow despite mounting Western criticism.
In this flash talk, Trivium Partner Trey McA...

February 28, 2023

Take the money and run (experiments)

ChatGPT and AI weren’t all the Minister of Science and Technology (MoST) Wang Zhigang and friends talked about at a State Council press conference on Friday. They also addressed how China will increase policy support for basic research. ICYMI: Just last week, Xi Jinping chaired a Politburo Study S…

ChatGPT and AI weren’t all the Minister of Science and Technology (MoST) Wang Zhigang and friends talked about at a State Council press conference on Friday.

They also addressed how China will increase policy support for basic research.

ICYMI: Just last week, Xi Jinping chaired a Politburo Study S...

sources

Gov.cn: 国务院新闻办就“深入实施创新驱动发展战略加快建设科技强国”举行发布会

February 28, 2023

Do you take RMB?

In 2022, the volume of cross-border transactions that used RMB hit a record high. On Friday, the central bank (PBoC) disclosed that 49% of cross-border transactions in and out of China were settled in RMB last year. That’s up from 47.4% in 2021 (see our January 18 report, “Letting go: How internati…

In 2022, the volume of cross-border transactions that used RMB hit a record high.
On Friday, the central bank (PBoC) disclosed that 49% of cross-border transactions in and out of China were settled in RMB last year.

That’s up from 47.4% in 2021 (see our January 18 report, “Letting go: How internati...

sources

PBoC: 中国货币政策执行报告 2022 年第四季度

February 28, 2023

Can you vouch(er) for that?

Local governments are stepping up efforts to revive consumption. On Monday, China Securities Journal reported that numerous cities have rolled out voucher programs to encourage spending. On Friday, the Beijing municipal government said it will issue vouchers to coincide with holidays and other peak …

Local governments are stepping up efforts to revive consumption.
On Monday, China Securities Journal reported that numerous cities have rolled out voucher programs to encourage spending.
On Friday, the Beijing municipal government said it will issue vouchers to coincide with holidays and other peak ...

sources

China Securities Journal: 多地发放大额消费券聚焦汽车家电产品

February 28, 2023

Bad app-les

China’s mobile app sector has been put on notice. Again. On Monday, the Ministry of Industry and Information Technology (MIIT) announced a campaign to clean up the sector. The target: Lousy, user-unfriendly, or downright abusive apps. You know who you are. Some context: Regulators have been work…

China's mobile app sector has been put on notice.

Again.

On Monday, the Ministry of Industry and Information Technology (MIIT) announced a campaign to clean up the sector.
The target: Lousy, user-unfriendly, or downright abusive apps.

You know who you are.

Some context: Regulators have been work...

sources

MIIT: 26条措施！工信部印发进一步提升移动互联网应用服务能力的通知

February 28, 2023

ChatGPT for you and me?

On Friday, China’s science and technology minister Wang Zhigang gave a press conference on his ministry’s (MoST) plans to bolster innovation and turn China into a sci-tech power. He was joined by two vice ministers and two director-level officials. What jumped out: The MoST manel was asked about …

On Friday, China's science and technology minister Wang Zhigang gave a press conference on his ministry's (MoST) plans to bolster innovation and turn China into a sci-tech power.

He was joined by two vice ministers and two director-level officials.

What jumped out: The MoST manel was asked about ...

sources

Gov.cn: 国务院新闻办就“深入实施创新驱动发展战略加快建设科技强国”举行发布会

February 27, 2023

The basics of basic research

Expect more support for scientists who relocate to China from abroad. That’s our calculation from a terse readout of Premier Li Keqiang’s meeting with renowned Chinese-American mathematician Shing-Tung Yau in Zhongnanhai on Friday. Some context: In recent days, top leaders have expressed a strong …

Expect more support for scientists who relocate to China from abroad.

That's our calculation from a terse readout of Premier Li Keqiang's meeting with renowned Chinese-American mathematician Shing-Tung Yau in Zhongnanhai on Friday.

Some context: In recent days, top leaders have expressed a strong ...

sources

Gov.cn: 李克强会见国际著名数学家丘成桐

February 27, 2023

He Rong is the right woman

On Friday, a 30-plus-year veteran of China’s People’s Court system was appointed Minister of Justice (Gov.cn). He Rong, 60, takes over the Ministry of Justice (MoJ) from Tang Yijun, 62. Tang became chairman of Jiangxi province’s top political advisory body in January. He is the third woman to helm…

On Friday, a 30-plus-year veteran of China's People's Court system was appointed Minister of Justice (Gov.cn).
He Rong, 60, takes over the Ministry of Justice (MoJ) from Tang Yijun, 62.

Tang became chairman of Jiangxi province's top political advisory body in January.

He is the third woman to helm...

sources

Gov.cn: 中华人民共和国主席令（第一三〇号）

February 27, 2023

Survey says

Reviews are in for China’s position paper on Ukraine, released on Friday. Western leaders are giving it two thumbs down. US President Joe Biden panned the plan as beneficial only to Russia (Reuters): “The idea that China is going to be negotiating the outcome of a war that’s a totally unjust war …

Reviews are in for China’s position paper on Ukraine, released on Friday.

Western leaders are giving it two thumbs down.

US President Joe Biden panned the plan as beneficial only to Russia (Reuters):

"The idea that China is going to be negotiating the outcome of a war that's a totally unjust war ...

sources

Reuters: 'Not rational' for China to negotiate outcome of Ukraine war, Biden says

Euronews: China's peace plan for Ukraine is 'selective' and blurs roles of aggressor and victim, says Brussels

SCMP: ‘China has taken Russia’s side’: EU dismisses Beijing’s ‘misplaced’ plan for peace in Ukraine

CNN: China calls for Russia-Ukraine ceasefire as claims to neutrality questioned

February 27, 2023

A parting pep talk

Keep up the hard work! That was Premier Li Keqiang’s (familiar) message during a symposium with officials from the macro-planner (NDRC) and the finance ministry (MoF) on Thursday. Li noted that consumption and confidence are rebounding (People’s Daily): “In January and February, consumption has ac…

Keep up the hard work!
That was Premier Li Keqiang's (familiar) message during a symposium with officials from the macro-planner (NDRC) and the finance ministry (MoF) on Thursday.
Li noted that consumption and confidence are rebounding (People's Daily):

"In January and February, consumption has ac...

sources

People's Daily: 发挥好创新宏观调控对稳定宏观经济大盘的作用

February 27, 2023

Party plans to become (even) more powerful

Party bigwigs are deliberating decisions that will change the policy environment in China for the next five years and beyond. The second plenum of the Party’s 20th Central Committee is underway from Sunday to Tuesday in Beijing. On Sunday afternoon, Xinhua broke with past practice by announcing th…

Party bigwigs are deliberating decisions that will change the policy environment in China for the next five years and beyond.

The second plenum of the Party's 20th Central Committee is underway from Sunday to Tuesday in Beijing.

On Sunday afternoon, Xinhua broke with past practice by announcing th...

sources

Xinhua: 中国共产党第二十届中央委员会第二次全体会议在北京开始举行

February 27, 2023

Living in a renter’s paradise

China’s going all in on rental housing. On Friday, the central bank (PBoC) and the banking regulator (CBIRC) released guidelines for public comment on building an ecosystem to fund and manage China’s underdeveloped rental housing market. ICYDK: Policymakers have big plans. The housing ministry has …

China's going all in on rental housing.
On Friday, the central bank (PBoC) and the banking regulator (CBIRC) released guidelines for public comment on building an ecosystem to fund and manage China’s underdeveloped rental housing market.
ICYDK: Policymakers have big plans.

The housing ministry has ...

sources

PBoC: 关于金融支持住房租赁市场发展的意见

The Paper: 央行等：鼓励发放租赁住房团体购房贷款，创新住房租赁担保债券

Gov.cn: “十四五”40个重点城市计划新增保障性租赁住房650万套（间）

China.com: 国新办就《“十四五”公共服务规划》有关情况举行发布会

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