string(13) "markets-macro"

Macro

January 20, 2023

McCaul calls BS on BIS

On Thursday, Republican Michael McCaul pressured Commerce Secretary Gina Raimondo for more details on US chip restrictions to China. McCaul, a leading China critic, now sits on the powerful House Foreign Affairs Committee (HFAC). Background: In 2022, McCaul sent numerous letters to the&nbs… Username Password Remember Me Forgot Password

On Thursday, Republican Michael McCaul pressured Commerce Secretary Gina Raimondo for more details on US chip restrictions to China.

McCaul, a leading China critic, now sits on the powerful House Foreign Affairs Committee (HFAC).

Background: In 2022, McCaul sent numerous letters to the&nbs...

sources

Bloomberg: GOP Prods Raimondo on Export-Control Files, Citing China Concern

US Foreign Affairs Committee: Chairman McCaul Slams Commerce Department For Withholding Documents on Technology Transfers to the CCP, Demands Full Transparency From BIS

January 20, 2023

Courting trouble

More local government financing vehicles (LGFVs) are struggling to pay their debts. Some are managing to restructure, but others are ending up in court. On Thursday, Caixin reported that two Shanghai courts have threatened to take action against Kunming Land Development Investment and Management…

More local government financing vehicles (LGFVs) are struggling to pay their debts.

Some are managing to restructure, but others are ending up in court.

On Thursday, Caixin reported that two Shanghai courts have threatened to take action against Kunming Land Development Investment and Management...

sources

Caixin: Court Ruling Adds to Pressure on China’s Indebted Local Government Financing Vehicles

January 20, 2023

CAC wishes you a merry Chinese New Year (or else!)

On Thursday, the Cyberspace Administration of China (CAC) released guidelines for content moderation over the Chinese New Year (CNY) holiday week, starting tomorrow. That’s nothing new: The CAC regularly conducts special censorship campaigns during major holidays or special events. But this is new: …

On Thursday, the Cyberspace Administration of China (CAC) released guidelines for content moderation over the Chinese New Year (CNY) holiday week, starting tomorrow.
That's nothing new: The CAC regularly conducts special censorship campaigns during major holidays or special events.
But this is new: ...

sources

CAC: 中央网信办启动“清朗·2023年春节网络环境整治”专项行动

January 20, 2023

No Chinese batteries for Virginia

In a speech on Friday, US (Republican) Virginia Governor Glenn Youngkin declared he had blocked the Ford Motor company’s plans to site an electric battery plant in the state. The reason: Ford’s partnership with Chinese lithium battery giant CATL involved an undisclosed “national security risk-type t…

In a speech on Friday, US (Republican) Virginia Governor Glenn Youngkin declared he had blocked the Ford Motor company’s plans to site an electric battery plant in the state.
The reason: Ford’s partnership with Chinese lithium battery giant CATL involved an undisclosed "national security risk-type t...

sources

Washington Post: Youngkin says he blocked Ford battery plant on China concerns

January 20, 2023

What took you so long?

Washington just cranked up the tech pressure on China that little bit extra. On January 17, the US expanded its export controls on advanced semiconductors and chip manufacturing equipment to cover Macau, one of China’s two special administrative regions (SARs). ICYDK, the other one is Hong Kong. …

Washington just cranked up the tech pressure on China that little bit extra.
On January 17, the US expanded its export controls on advanced semiconductors and chip manufacturing equipment to cover Macau, one of China's two special administrative regions (SARs).

ICYDK, the other one is Hong Kong.

...

sources

Reuters: Biden administration imposes China chip curbs on Macau

Federal Register: Additional Export Controls: Certain Advanced Computing and Semiconductor Manufacturing Items; Supercomputer and Semiconductor End Use; Entity List Modification; Updates to the Controls to Add Macau

January 20, 2023

Full of beans

China’s soybean production broke records last year – according to agriculture ministry (MARA) data released on Wednesday. The deets: Farmers harvested 20.28 million metric tons of soybeans in 2022 – up over 23% y/y. Soybean acreage rose by 1.8 million hectares to over 10.2 million hectares – a 65-…

China's soybean production broke records last year – according to agriculture ministry (MARA) data released on Wednesday.
The deets:

Farmers harvested 20.28 million metric tons of soybeans in 2022 – up over 23% y/y.
Soybean acreage rose by 1.8 million hectares to over 10.2 million hectares – a 65-...

sources

MARA: 国新办举行2022年农业农村经济运行情况新闻发布会

USDA: Record U.S. FY 2022 Agricultural Exports to China

January 20, 2023

Hey laowai, c’mere

China’s door is wide open – in certain areas. At a macro planner (NDRC) presser on Wednesday, Jin Xiandong, director of the agency’s policy research office, shed some light on China’s evolving attitude toward foreign investment. Some context: A host of issues, notably geopolitics, domestic sectoral …

China’s door is wide open – in certain areas.
At a macro planner (NDRC) presser on Wednesday, Jin Xiandong, director of the agency's policy research office, shed some light on China’s evolving attitude toward foreign investment.
Some context: A host of issues, notably geopolitics, domestic sectoral ...

sources

NDRC: 国家发展改革委1月新闻发布会

weforum.org: 中华人民共和国国务院副总理刘鹤在世界经济论坛2023年年会上的特别致辞

January 19, 2023

Pssst! Want to know your future?

We’ve got a magic list telling the fortune of Chinese officials and entrepreneurs. That’s the newly released list of the top political advisory body’s (CPPCC) 2,172 national committee members. The biggest reveal concerns Hu Chunhua, 59, the outgoing vice premier (CPPCC): Hu is now a CPPCC member, w…

We've got a magic list telling the fortune of Chinese officials and entrepreneurs.
That's the newly released list of the top political advisory body's (CPPCC) 2,172 national committee members.
The biggest reveal concerns Hu Chunhua, 59, the outgoing vice premier (CPPCC):

Hu is now a CPPCC member, w...

sources

CPPCC: 中国人民政治协商会议第十四届全国委员会委员名单

January 19, 2023

Move back (please)

On Wednesday, at a Lunar New Year symposium in Beijing, Premier Li Keqiang extended holiday greetings to a group of “foreign talents” who live and work in China. Li’s message was simple (Xinhua): “The Chinese government welcomes more foreign talents to work in China.” He promised to make things ea…

On Wednesday, at a Lunar New Year symposium in Beijing, Premier Li Keqiang extended holiday greetings to a group of "foreign talents" who live and work in China.
Li's message was simple (Xinhua):

"The Chinese government welcomes more foreign talents to work in China."

He promised to make things ea...

sources

Xinhua: 李克强同在华外国专家举行新春座谈会

China Daily: China welcomes more foreign experts, Li says

January 19, 2023

Gimme gimme foreign R&D

Beijing wants more foreign companies to help with China’s research efforts. On Wednesday, the State Council published a slew of measures to encourage foreign businesses to establish research and development (R&D) centers in China. We’ve seen most of this before, including (Gov.cn): Streamlining…

Beijing wants more foreign companies to help with China’s research efforts.
On Wednesday, the State Council published a slew of measures to encourage foreign businesses to establish research and development (R&D) centers in China.
We've seen most of this before, including (Gov.cn):

Streamlining...

sources

Gov.cn: 国务院办公厅转发商务部科技部关于进一步鼓励外商投资设立研发中心若干措施的通知

January 19, 2023

Happy New Year and we good?

Xi Jinping is breaking with tradition and skipping his annual Lunar New Year (LNY) tour. On Wednesday, Xi hopped on video calls to send festive greetings to groups of ordinary Chinese people, including hospital workers and nursing home residents. That’s weird: For the past 10 years, Xi traveled to t…

Xi Jinping is breaking with tradition and skipping his annual Lunar New Year (LNY) tour.
On Wednesday, Xi hopped on video calls to send festive greetings to groups of ordinary Chinese people, including hospital workers and nursing home residents.
That's weird: For the past 10 years, Xi traveled to t...

sources

Xinhua: Xi makes video calls to people across China, extending festive greetings ahead of Year of Rabbit

Gov.cn: 习近平春节前夕视频连线看望慰问基层干部群众

January 19, 2023

A nice holiday surprise

People are hitting the road again – in serious numbers – after the peak of the first wave of COVID infections. On Tuesday, the transport ministry (MoT) released data on the first nine days of the Lunar New Year (LNY) travel rush, showing a substantial rebound: Travel increased by 47.7% y/y, reachin…

People are hitting the road again – in serious numbers – after the peak of the first wave of COVID infections.
On Tuesday, the transport ministry (MoT) released data on the first nine days of the Lunar New Year (LNY) travel rush, showing a substantial rebound:

Travel increased by 47.7% y/y, reachin...

sources

Caixin: 春运预期同比2019年恢复七成人流都在哪里

Financial Times: China past Covid infections peak, top economic official claims

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