string(13) "markets-macro"

Macro

February 15, 2025

Chinese provinces target higher grain yield, larger planting area in 2025

China’s grain production is all but guaranteed to soar again in 2025. Over the past month, all 31 of the country’s province-level administrative regions have released their government work reports, outlining key local economic targets and settings for 2025. That includes targets for farming (21st Ce… Username Password Remember Me Forgot Password

China's grain production is all but guaranteed to soar again in 2025.
Over the past month, all 31 of the country's province-level administrative regions have released their government work reports, outlining key local economic targets and settings for 2025.
That includes targets for farming (21st Ce...

sources

21st Century Biz: 2025年各省份“三农”工作怎么干？多地上调粮食播种面积目标

Reuters: Is China ending its stint as major global grain importer?

February 15, 2025

Provinces report progress in reducing hidden debt

Several provinces have reported significant progress in repaying hidden debts. ICYDK: “Hidden debt” refers to local government liabilities raised off-balance-sheet via local government financing vehicles (LGFVs) and other state firms. Over the last couple of years, local governments have used the p…

Several provinces have reported significant progress in repaying hidden debts.
ICYDK: "Hidden debt" refers to local government liabilities raised off-balance-sheet via local government financing vehicles (LGFVs) and other state firms.

Over the last couple of years, local governments have used the p...

sources

21st Century Biz: 2025年地方“提前批”新增债券或为2.8万亿元，部分省份明确不得向国企下达政府融资任务

February 15, 2025

Guangdong takes the lead in SPB-funded land acquisitions

Guangdong province has emerged as a frontrunner in using special-purpose bonds (SPBs) to fund property acquisitions. Over the past week, 14 cities across the province – including Guangzhou and Zhuhai – have announced plans to use SPB proceeds to buy back idle land from property developers (21st Cent…

Guangdong province has emerged as a frontrunner in using special-purpose bonds (SPBs) to fund property acquisitions.
Over the past week, 14 cities across the province – including Guangzhou and Zhuhai – have announced plans to use SPB proceeds to buy back idle land from property developers (21st Cent...

sources

21st Century Biz: 超200亿元专项债收购逾百宗存量土地广东多地助力楼市“去库存”

February 14, 2025

China seeks a Labour of love

Is a Sino-British reset in the offing? On Thursday, top diplomat Wang Yi traveled to London, kicking off his first UK visit in 10 years. Some context: After a short-lived “golden era” following Xi Jinping’s 2015 visit to Britain, UK-China relations steadily deteriorated under successive Conservative…

Is a Sino-British reset in the offing?
On Thursday, top diplomat Wang Yi traveled to London, kicking off his first UK visit in 10 years.
Some context: After a short-lived “golden era” following Xi Jinping’s 2015 visit to Britain, UK-China relations steadily deteriorated under successive Conservative...

sources

MoFA: 第十次中英战略对话在伦敦举行

Reuters: China ready to continue improving ties, deepen cooperation with UK

February 14, 2025

National data management SOE reportedly on the way

On Thursday, domestic media reported that China will establish a central state-owned enterprise (SOE) to manage national data resources. Some context: As regular readers know, China has been trying for years to form a national data market. But, as it happens: Gathering, standardizing, pricing, and m…

On Thursday, domestic media reported that China will establish a central state-owned enterprise (SOE) to manage national data resources.
Some context: As regular readers know, China has been trying for years to form a national data market.
But, as it happens: Gathering, standardizing, pricing, and m...

sources

Economic Observer: 独家｜国家数据集团终于来了！

February 14, 2025

Xi plans sit-down with private sector

This is big. Xi Jinping will chair a symposium with some of China’s largest private companies on Monday. Among those reported to be attending are: Alibaba co-founder Jack Ma Tencent CEO Pony Ma Xiaomi CEO Lei Jun Yushu Technology founder Wang Xingxing DeepSeek founder Liang Wenfeng A Huawei executi…

This is big.
Xi Jinping will chair a symposium with some of China’s largest private companies on Monday.
Among those reported to be attending are:

Alibaba co-founder Jack Ma
Tencent CEO Pony Ma
Xiaomi CEO Lei Jun
Yushu Technology founder Wang Xingxing
DeepSeek founder Liang Wenfeng
A Huawei executi...

sources

Reuters: Xi to chair symposium attended by Jack Ma and other Chinese business leaders, sources say

February 14, 2025

A big preliminary SPB quota to jumpstart growth in 2025

Beijing has allocated several provinces the maximum allowable preliminary special-purpose bond (SPB) quota to support growth in Q1. By early February, Guangdong, Jiangsu, Zhejiang, Hubei, Inner Mongolia, Chongqing, and Liaoning provinces had disclosed their 2025 preliminary SPB and general bond quot…

Beijing has allocated several provinces the maximum allowable preliminary special-purpose bond (SPB) quota to support growth in Q1.
By early February, Guangdong, Jiangsu, Zhejiang, Hubei, Inner Mongolia, Chongqing, and Liaoning provinces had disclosed their 2025 preliminary SPB and general bond quot...

sources

21st Century Biz: 2025年地方“提前批”新增债券或为2.8万亿元，部分省份明确不得向国企下达政府融资任务

February 14, 2025

Authorities weigh RMB 50 billion support package for Vanke

Just yesterday, we told you that embattled property developer Vanke had secured an RMB 2.8 billion loan from its local government patrons – likely marking the first step in a broader rescue effort. That effort may be unfolding faster than expected. On Wednesday, anonymous sources told Bloomberg th…

Just yesterday, we told you that embattled property developer Vanke had secured an RMB 2.8 billion loan from its local government patrons – likely marking the first step in a broader rescue effort.

That effort may be unfolding faster than expected.

On Wednesday, anonymous sources told Bloomberg th...

sources

Bloomberg: China Mulls $6.8 Billion Funding to Help Vanke Repay Debt

February 14, 2025

January sees NEVs take record share of auto exports

New energy vehicle (NEV) exports had a strong start to 2025, dominating China’s auto export growth in January. Per the latest China Passenger Car Association data for January: NEV exports hit 139,000 units, up 46% y/y and 14% m/m Internal combustion engine (ICE) vehicle exports fell to just under 2…

New energy vehicle (NEV) exports had a strong start to 2025, dominating China's auto export growth in January.
Per the latest China Passenger Car Association data for January:

NEV exports hit 139,000 units, up 46% y/y and 14% m/m
Internal combustion engine (ICE) vehicle exports fell to just under 2...

sources

Yiche: 乘联会：1月乘用车市场零售179.4万辆同比下降12.1%

February 14, 2025

On Our Radar | The Two Sessions

The most important upcoming developments for policy and politics in China over the next month key developments econ and finance GDP growth target for 2025 (March 5) How much additional fiscal spending will the government greenlight? (March 5) foreign affairs Wang Yi makes a whirlwind trip (mid-Fe…

The most important upcoming developments for policy and politics in China over the next month
key developments
econ and finance

GDP growth target for 2025 (March 5)
How much additional fiscal spending will the government greenlight? (March 5)

foreign affairs

Wang Yi makes a whirlwind trip (mid-Fe...

February 13, 2025

Generic drug scandal undermines faith in regulator

China is in the midst of a huge drug scandal. Pharma 101: Generic drugs must undergo bioequivalence studies to prove they have the same therapeutic effect as the original drugs. The scandal: In late January, Chinese doctors spotted some funky data on the website of the pharmaceutical drug regulator…

China is in the midst of a huge drug scandal.
Pharma 101: Generic drugs must undergo bioequivalence studies to prove they have the same therapeutic effect as the original drugs.
The scandal: In late January, Chinese doctors spotted some funky data on the website of the pharmaceutical drug regulator...

sources

Caixin: 药监局及企业回应仿制药数据造假：系上传数据错误，已更新

Caixin: 药监官网仿制药过评数据已无法下载相关信息如何公开？

Caixin: 仿制药公开数据失准再现端倪药监官网过评信息已恢复下载

February 13, 2025

China seeks to facilitate Trump-Putin talks

China wants to broker peace in Ukraine. On Thursday, the WSJ referenced inside sources saying Chinese officials had approached the White House through intermediaries to facilitate a meeting between US President Donald Trump and Russian President Vladimir Putin, to discuss the war in Ukraine. Some co…

China wants to broker peace in Ukraine.
On Thursday, the WSJ referenced inside sources saying Chinese officials had approached the White House through intermediaries to facilitate a meeting between US President Donald Trump and Russian President Vladimir Putin, to discuss the war in Ukraine.
Some co...

sources

WSJ: China Tries to Play the Role of Peacemaker in Ukraine

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