string(13) "markets-macro"

Macro

February 22, 2023

The price of recovery

Russia’s oil exports to China hit a post-invasion high in January. According to Kpler data cited by Bloomberg, China imported a combined 1.66 million barrels of Russian crude oil and fuel oil a day in January. That’s up over 9% from the previous record of 1.52 million barrels a day set in April 202… Username… Read More »

Russia's oil exports to China hit a post-invasion high in January.

According to Kpler data cited by Bloomberg, China imported a combined 1.66 million barrels of Russian crude oil and fuel oil a day in January.
That's up over 9% from the previous record of 1.52 million barrels a day set in April 202...

sources

Bloomberg: Russian Oil Flows to China Hit Highest Levels Since Ukraine Invasion

Reuters: Russia proposes caps on oil export discounts

February 22, 2023

Aluminum foiled

Aluminum producers in Yunnan province are once again cutting output amid drought-driven power concerns. Industry media Mysteel confirmed on February 18 that producers had received verbal instructions to cut back on power consumption. It’s just the latest in an ongoing series of production disrupti…

Aluminum producers in Yunnan province are once again cutting output amid drought-driven power concerns.

Industry media Mysteel confirmed on February 18 that producers had received verbal instructions to cut back on power consumption.

It's just the latest in an ongoing series of production disrupti...

sources

Mysteel: 云南电解铝本轮缺电限产的定性与定量分析

Reuters: Column: Another Yunnan power blow to China's aluminium output

February 22, 2023

All the specialized and small things

Beijing wants to see more cash flowing to small tech firms. On Tuesday, Xu Xiaolan, vice minister of the Ministry of Industry and Information Technology (MIIT), spoke at the annual National Small- and Medium-Sized Enterprise (SME) Development Forum. Xu’s big agenda item: Providing more support to “s…

Beijing wants to see more cash flowing to small tech firms.
On Tuesday, Xu Xiaolan, vice minister of the Ministry of Industry and Information Technology (MIIT), spoke at the annual National Small- and Medium-Sized Enterprise (SME) Development Forum.
Xu’s big agenda item: Providing more support to “s...

sources

The Paper: 工信部副部长徐晓兰：加快专精特新中小企业上市进程

NBD: 工信部：2022年将推动延续阶段性惠企政策，培育一批进军元宇宙等新兴领域的创新型中小企业

February 22, 2023

Loosening up

Beijing is backing away from restrictions on land auction limits as pressure grows on local government revenues. On Sunday, Bloomberg cited unnamed sources as saying that the Ministry of Natural Resources (MNR) has granted at least two cities permission to hold multiple land auctions this year. Blo…

Beijing is backing away from restrictions on land auction limits as pressure grows on local government revenues.
On Sunday, Bloomberg cited unnamed sources as saying that the Ministry of Natural Resources (MNR) has granted at least two cities permission to hold multiple land auctions this year.

Blo...

sources

Bloomberg: China Quietly Pivots From Land Sale Limits to Stem Housing Slump

February 22, 2023

Connect four!

China’s central bank (PBoC) is one step closer to launching the Swap Connect. On Friday, The Paper reported that the PBoC has circulated a draft of technical measures governing how the Swap Connect will work. The PBoC will solicit feedback on the draft before issuing a final version. Some context:…

The PBoC will solicit feedback on the draft before issuing a final version.

Some context:...

sources

The Paper: “互换通”启动在即，机制安排和监管要求迎来原则性规定

February 22, 2023

Don’t doubt our reliability

On Friday, the Ministry of Commerce (MofCom) published a brief Q&A-style explainer reassuring foreign companies that they have nothing to worry about from China’s Unreliable Entity List (UEL). Some context: We told you last week that China’s adding Lockheed Martin and Raytheon Missile and Defens…

On Friday, the Ministry of Commerce (MofCom) published a brief Q&A-style explainer reassuring foreign companies that they have nothing to worry about from China’s Unreliable Entity List (UEL).
Some context: We told you last week that China’s adding Lockheed Martin and Raytheon Missile and Defens...

sources

MofCom: 商务部新闻发言人就不可靠实体清单有关问题答记者问

February 22, 2023

The changing message

Internet companies look back in favor again. On Monday, Shanghai Party Secretary Chen Jining visited social media and e-commerce platform Xiaohongshu. ICYDK: Xiaohongshu is a popular short video and post-sharing app dubbed “China’s answer to Instagram.” Chen’s tone was remarkably supportive: He emph…

Internet companies look back in favor again.
On Monday, Shanghai Party Secretary Chen Jining visited social media and e-commerce platform Xiaohongshu.
ICYDK: Xiaohongshu is a popular short video and post-sharing app dubbed "China's answer to Instagram."
Chen's tone was remarkably supportive: He emph...

sources

The Paper: 支持企业顺应新趋势、抢占新赛道，陈吉宁调研互联网企业

February 22, 2023

Opening the ride-hailing IPO door

Ride-hailing IPOs could be back in vogue again. On Monday, Bloomberg reported that Chinese ride-hailing startup Dida (that’s Dida, not Didi) is considering an IPO on the Hong Kong Stock Exchange (SEHK) to raise USD 200 million. Background: Dida tried to IPO in Hong Kong in October 2020, extending th…

Ride-hailing IPOs could be back in vogue again.
On Monday, Bloomberg reported that Chinese ride-hailing startup Dida (that's Dida, not Didi) is considering an IPO on the Hong Kong Stock Exchange (SEHK) to raise USD 200 million.
Background: Dida tried to IPO in Hong Kong in October 2020, extending th...

sources

Bloomberg: Chinese Ride-Hailing Firm Dida Revives $200 Million HK IPO

MoT: 1月份22个城市网约车订单合规率超80%

February 22, 2023

CAS calls for doubling down on basic research

On February 16, China’s national science academy (CAS) published an article arguing that China should double down on basic research to counter US export controls. The big problem: China massively underinvests in semiconductors. Its total R&D spend in this sector is a mere 5% of the United Stat…

On February 16, China’s national science academy (CAS) published an article arguing that China should double down on basic research to counter US export controls.
The big problem: China massively underinvests in semiconductors.

Its total R&D spend in this sector is a mere 5% of the United Stat...

sources

CAS: 科学观察丨加强半导体基础能力建设点亮半导体自立自强发展的“灯塔”

February 22, 2023

Testing gaming waters

On Monday, state media outlet Xinhua published a piece applauding China’s gaming industry as an essential tech incubator. ICYDK: Policymakers and regulators have been hating on the gaming industry for the past half-decade. Multiple rounds of game licensing freezes have kneecapped game studios The p…

On Monday, state media outlet Xinhua published a piece applauding China's gaming industry as an essential tech incubator.
ICYDK: Policymakers and regulators have been hating on the gaming industry for the past half-decade.

Multiple rounds of game licensing freezes have kneecapped game studios
The p...

sources

Xinhua: 别忽视游戏行业的科技价值

Source: An AI Learned to Play Minecraft, and It's Actually Pretty Good

Wired: NVIDIA and the battle for the future of AI chips

Xinhua: 坚决防止未成年人沉迷网络游戏——国家新闻出版署有关负责人就《关于进一步严格管理切实防止未成年人沉迷网络游戏的通知》答记者问

February 21, 2023

Hug it out

On Tuesday, Xinhua published a lengthy concept paper explaining China’s Global Security Initiative (GSI). Some context: First proposed by Xi Jinping at last April’s Boao Forum, the GSI represents Xi’s plan to reshape global security architecture away from a “bloc confrontation” model to one of colle…

On Tuesday, Xinhua published a lengthy concept paper explaining China’s Global Security Initiative (GSI).
Some context: First proposed by Xi Jinping at last April's Boao Forum, the GSI represents Xi's plan to reshape global security architecture away from a “bloc confrontation” model to one of colle...

sources

Xinhua: Full text: The Global Security Initiative Concept Paper

February 21, 2023

We’re back, baobei

It was a mixed reception for Chinese officials arriving in Taiwan on Saturday. They were greeted by both protestors and supporters. What happened: Six officials from Shanghai’s municipal government visited Taipei from Saturday to Monday. Why we care: This was the first Chinese government delegation …

It was a mixed reception for Chinese officials arriving in Taiwan on Saturday. They were greeted by both protestors and supporters.
What happened: Six officials from Shanghai’s municipal government visited Taipei from Saturday to Monday.
Why we care: This was the first Chinese government delegation ...

sources

FT: First official Chinese visit to Taiwan in three years underscores strained ties

Liberty Times Net: 中國上海團參訪台灣燈會行蹤成謎媒體「全被放鴿子」撲空

Pages: 1234567891011121314151617181920212223242526272829303132333435363738394041424344454647484950515253545556575859606162636465666768697071727374757677787980818283848586878889909192939495969798991001011021031041051061071081091101111121131141151161171181191201211221231241251261271281291301311321331341351361371381391401411421431441451461471481491501511521531541551561571581591601611621631641651661671681691701711721731741751761771781791801811821831841851861871881891901911921931941951961971981992002012022032042052062072082092102112122132142152162172182192202212222232242252262272282292302312322332342352362372382392402412422432442452462472482492502512522532542552562572582592602612622632642652662672682692702712722732742752762772782792802812822832842852862872882892902912922932942952962972982993003013023033043053063073083093103113123133143153163173183193203213223233243253263273283293303313323333343353363373383393403413423433443453463473483493503513523533543553563573583593603613623633643653663673683693703713723733743753763773783793803813823833843853863873883893903913923933943953963973983994004014024034044054064074084094104114124134144154164174184194204214224234244254264274284294304314324334344354364374384394404414424434444454464474484494504514524534544554564574584594604614624634644654664674684694704714724734744754764774784794804814824834844854864874884894904914924934944954964974984995005015025035045055065075085095105115125135145155165175185195205215225235245255265275285295305315325335345355365375385395405415425435445455465475485495505515525535545555565575585595605615625635645655665675685695705715725735745755765775785795805815825835845855865875885895905915925935945955965975985996006016026036046056066076086096106116126136146156166176186196206216226236246256266276286296306316326336346356366376386396406416426436446456466476486496506516526536546556566576586596606616626636646656666676686696706716726736746756766776786796806816826836846856866876886896906916926936946956966976986997007017027037047057067077087097107117127137147157167177187197207217227237247257267277287297307317327337347357367377387397407417427437447457467477487497507517527537547557567577587597607617627637647657667677687697707717727737747757767777787797807817827837847857867877887897907917927937947957967977987998008018028038048058068078088098108118128138148158168178188198208218228238248258268278288298308318328338348358368378388398408418428438448458468478488498508518528538548558568578588598608618628638648658668678688698708718728738748758768778788798808818828838848858868878888898908918928938948958968978988999009019029039049059069079089099109119129139149159169179189199209219229239249259269279289299309319329339349359369379389399409419429439449459469479489499509519529539549559569579589599609619629639649659669679689699709719729739749759769779789799809819829839849859869879889899909919929939949959969979989991000100110021003100410051006100710081009101010111012101310141015101610171018101910201021102210231024102510261027102810291030103110321033103410351036103710381039104010411042104310441045104610471048104910501051105210531054105510561057105810591060106110621063106410651066106710681069107010711072107310741075107610771078107910801081108210831084108510861087108810891090109110921093109410951096109710981099110011011102110311041105110611071108110911101111111211131114111511161117111811191120112111221123112411251126112711281129113011311132113311341135113611371138113911401141114211431144114511461147114811491150115111521153115411551156115711581159116011611162