string(13) "markets-macro"

Macro

February 15, 2023

Wanted: Investments in Iran

On Tuesday, Xi Jinping met with Iranian President Ebrahim Raisi in Beijing. The meeting took place during the first visit to China by an Iranian president in 20 years. Some context: Sino-Iranian relations have gotten awkward of late. In December, during Vice Premier Hu Chunhua’s visit to Tehran, … Username Password Remember Me … Read More »

On Tuesday, Xi Jinping met with Iranian President Ebrahim Raisi in Beijing.

The meeting took place during the first visit to China by an Iranian president in 20 years.

Some context: Sino-Iranian relations have gotten awkward of late.

In December, during Vice Premier Hu Chunhua's visit to Tehran, ...

sources

Xinhua: 习近平同伊朗总统莱希举行会谈

Financial Tribune: Russians Overtake Chinese to Top List of Foreign Investors in Iran

February 15, 2023

Health code data whack-a-mole

It’s been two months since China abandoned its harsh Covid-19 controls, and daily life is pretty much back to normal. But local governments are still struggling to dismantle remaining zero-Covid infrastructure. Case in point: On Tuesday, Chinese media reported that shelving the many provincial hea…

It’s been two months since China abandoned its harsh Covid-19 controls, and daily life is pretty much back to normal.

But local governments are still struggling to dismantle remaining zero-Covid infrastructure.

Case in point: On Tuesday, Chinese media reported that shelving the many provincial hea...

sources

21st Century Biz: 粤康码率先下线部分功能并承诺删除数据，其他省市健康码如何处理？

February 15, 2023

Bonds. Better bonds.

Bond market reform is still on Beijing’s agenda. On Friday, the securities regulator (CSRC) convened its annual bond regulation work conference. Some context: At around RMB 140 trillion, China’s bond market is the world’s second largest. That number is up 50% in just the last four years. More cont…

Bond market reform is still on Beijing’s agenda.
On Friday, the securities regulator (CSRC) convened its annual bond regulation work conference.
Some context: At around RMB 140 trillion, China’s bond market is the world’s second largest.

That number is up 50% in just the last four years.

More cont...

sources

CSRC: 中国证监会召开2023年债券监管工作会议

February 15, 2023

Trash disposal

2022 was another big year for banks’ bad loan disposals. On February 3, the banking regulator (CBIRC) disclosed that China’s banks disposed of RMB 3.1 trillion worth of nonperforming assets (NPAs) last year. Some context: That’s the same amount as banks disposed of in 2021, which itself was a record…

2022 was another big year for banks’ bad loan disposals.
On February 3, the banking regulator (CBIRC) disclosed that China’s banks disposed of RMB 3.1 trillion worth of nonperforming assets (NPAs) last year.
Some context: That’s the same amount as banks disposed of in 2021, which itself was a record...

sources

Shanghai Securities News: 银保监会：2022年末银行业金融机构不良贷款率1.71% 去年全年累计处置不良资产3.1万亿元

February 15, 2023

(Insert balloon pun here)

The saga of the Chinese balloon over US airspace concluded on February 4 when an F-22 fighter jet downed the errant airship off the coast of South Carolina, as we told you last week. Mea culpa: As it turned out, the original incursion proved just the beginning of a much longer (and sillier) story. …

The saga of the Chinese balloon over US airspace concluded on February 4 when an F-22 fighter jet downed the errant airship off the coast of South Carolina, as we told you last week.
Mea culpa: As it turned out, the original incursion proved just the beginning of a much longer (and sillier) story.

...

sources

Washington Post: The U.S. shot 4 objects out of the sky in nine days. What to know.

MoFA: Foreign Ministry Spokesperson Wang Wenbin’s Regular Press Conference on February 13, 2023

Reuters: White House rejects Beijing claims of U.S. balloons over China

SCMP: Top US and China diplomats Antony Blinken and Wang Yi weigh first meeting since balloon row

February 15, 2023

Beijing Huanying Ni

Global CEOs are packing their bags and heading to China, now that Beijing has ended almost three years of stringent COVID controls and reopened the borders. The Germans arrived first: Volkswagen CEO Oliver Blume met local business partners, employees, and government agencies on a five-day trip in l…

Global CEOs are packing their bags and heading to China, now that Beijing has ended almost three years of stringent COVID controls and reopened the borders.
The Germans arrived first:

Volkswagen CEO Oliver Blume met local business partners, employees, and government agencies on a five-day trip in l...

sources

The Paper: 大众之后奔驰董事会主席也将访华，外媒：苹果库克下月也要来

WSJ: From Apple to VW, CEOs Gradually Returning to China After Its Reopening

February 14, 2023

Feeding China with more Chinese food

Beijing is hell-bent on reducing agricultural imports. That’s our main takeaway from the 2023 No. 1 Document released by the Party Central Committee and the State Council on Monday. Farmers come first: For the past 20 years, the Party’s first policy document each year has focused on agriculture, rur…

Beijing is hell-bent on reducing agricultural imports.
That's our main takeaway from the 2023 No. 1 Document released by the Party Central Committee and the State Council on Monday.
Farmers come first: For the past 20 years, the Party’s first policy document each year has focused on agriculture, rur...

sources

Xinhua: （受权发布）中共中央国务院关于做好2023年全面推进乡村振兴重点工作的意见

February 14, 2023

It’s not easy bein’ green

China has led the world in renewable energy development over the past decade. But far more work is needed if the country is to meet Xi Jinping’s goals of peaking carbon emissions before 2030 and reaching carbon neutrality before 2060. The good news: On Monday, the energy regulator (NEA) revealed t…

China has led the world in renewable energy development over the past decade.

But far more work is needed if the country is to meet Xi Jinping's goals of peaking carbon emissions before 2030 and reaching carbon neutrality before 2060.

The good news: On Monday, the energy regulator (NEA) revealed t...

sources

NEA: 国家能源局2023年一季度新闻发布会文字实录

Jiemian: 历史首次，中国可再生能源装机超过了煤电

February 14, 2023

Set the export controls for the heart of the sun

On Thursday, the New York Times (NYT) hinted that the Biden administration’s next wave of sanctions against China could come in the next two months. Recap: The US announced export controls on Chinese semiconductors in October. Additional reports suggested that the administration was considering ex…

On Thursday, the New York Times (NYT) hinted that the Biden administration’s next wave of sanctions against China could come in the next two months.
Recap: The US announced export controls on Chinese semiconductors in October.

Additional reports suggested that the administration was considering ex...

sources

NYT: U.S. Aims to Curtail Technology Investment in China

Reuters: Biden plans to curb investment by U.S. firms in Chinese tech - NYT

February 14, 2023

Fiscal blues

2022 was a grim year for local government budgets in China. The evidence is out: All 31 provincial-level governments have officially released their 2023 budget reports, which discuss last year’s fiscal position and outline targets for the year ahead. General government revenue – the biggest chunk …

2022 was a grim year for local government budgets in China.

The evidence is out: All 31 provincial-level governments have officially released their 2023 budget reports, which discuss last year's fiscal position and outline targets for the year ahead.

General government revenue – the biggest chunk ...

sources

Caixin: 2022年七成省份财政收入下降 2023年目标普遍谨慎

February 14, 2023

A delicious selection of industrial internet apps

The Ministry of Industry and Information Technology (MIIT) is picking winners again. On Monday, MIIT released its two official lists of outstanding industrial internet products. MIIT hand-picked 191 apps and 68 software programs that passed expert reviews with flying colors. The agency encouraged l…

The Ministry of Industry and Information Technology (MIIT) is picking winners again.
On Monday, MIIT released its two official lists of outstanding industrial internet products.

MIIT hand-picked 191 apps and 68 software programs that passed expert reviews with flying colors.
The agency encouraged l...

sources

MIIT: 工业和信息化部办公厅关于公布2022年工业软件优秀产品名单的通知

MIIT: 工业和信息化部办公厅关于公布2022年工业互联网APP优秀解决方案名单的通知

February 14, 2023

Big tech off the hook

On Thursday, China’s antitrust regulator (SAMR) held a meeting to set out its anti-monopoly agenda for 2023. SAMR’s number one priority for 2023 is… drumroll please… tackling local-level administrative monopolies driven by corrupt officials. Wait, what? That’s right, ladies and gentlemen –…

On Thursday, China’s antitrust regulator (SAMR) held a meeting to set out its anti-monopoly agenda for 2023.
SAMR's number one priority for 2023 is... drumroll please... tackling local-level administrative monopolies driven by corrupt officials.
Wait, what? That's right, ladies and gentlemen –...

sources

SAMR: 全国市场监管系统反垄断工作会议暨民生领域反垄断执法专项行动部署会在山东青岛举行

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