string(13) "markets-macro"

Macro

January 10, 2023

Never off the hook

On Monday, Xi Jinping addressed the second plenum of the Party’s newly reshuffled disciplinary body – the 20th CCDI. His zero-COVID policy is history, but Xi’s demand for zero tolerance of corruption remains firmly in place (Xinhua): “We must…regard comprehensive and strict governance of the Part… Username Password Remember Me Forgot Password

On Monday, Xi Jinping addressed the second plenum of the Party’s newly reshuffled disciplinary body – the 20th CCDI.
His zero-COVID policy is history, but Xi's demand for zero tolerance of corruption remains firmly in place (Xinhua):

“We must...regard comprehensive and strict governance of the Part...

sources

Xinhua: 习近平在二十届中央纪委二次全会上发表重要讲话

January 10, 2023

New labor minister makes history

Wang Xiaoping just got a new job – but now she must find millions more. On December 30, Wang, 58, was appointed the new minister of human resources and social security, replacing Zhou Zuyi, who became Party secretary of Fujian in November. It’s about time: Wang is the first female labor minister in …

Wang Xiaoping just got a new job – but now she must find millions more.
On December 30, Wang, 58, was appointed the new minister of human resources and social security, replacing Zhou Zuyi, who became Party secretary of Fujian in November.
It’s about time: Wang is the first female labor minister in ...

sources

People.cn: 中华人民共和国主席令（第一二八号）

Caixin: 人事观察｜中央纪委常委王晓萍履新人社部部长

January 10, 2023

Auld Zhan Lang Syne-ing off

2023 is off to a rough start for China’s most prominent “wolf warrior” diplomat. On Monday, The Paper reported that Zhao Lijian, a combative Foreign Ministry spokesperson, had been transferred from his high-profile, public facing role to become deputy director of the ministry’s Department of Boundar…

2023 is off to a rough start for China's most prominent "wolf warrior" diplomat.
On Monday, The Paper reported that Zhao Lijian, a combative Foreign Ministry spokesperson, had been transferred from his high-profile, public facing role to become deputy director of the ministry’s Department of Boundar...

sources

The Paper: 外交部新闻司原副司长赵立坚已任边界与海洋事务司副司长

Bloomberg: Controversial China Diplomat Zhao Shifted From High-Profile Role

January 10, 2023

Another expected amendment to the Cybersecurity Law

The government’s journey to harmonize China’s cyber and data security regime is set to continue. On December 30, the National People’s Congress accepted a proposal to add nuance to the definition of “personal information” in the Cybersecurity Law (CSL). The skinny: Legislators will tweak the CSL to …

The government’s journey to harmonize China’s cyber and data security regime is set to continue.
On December 30, the National People’s Congress accepted a proposal to add nuance to the definition of “personal information” in the Cybersecurity Law (CSL).
The skinny: Legislators will tweak the CSL to ...

sources

NPC: 全国人民代表大会宪法和法律委员会关于第十三届全国人民代表大会第五次会议主席团交付审议的代表提出的议案审议结果的报告

January 10, 2023

Stay out of politics

Beijing may be ending the big tech crackdown, but it will not tolerate any political meddling by businesses. That’s the message Xi had for China’s anti-corruption watchdog (CCDI) at its annual plenary session on Monday. At the meeting, Xi told CCDI to keep an eye on inappropriate ties between off…

Beijing may be ending the big tech crackdown, but it will not tolerate any political meddling by businesses.
That’s the message Xi had for China’s anti-corruption watchdog (CCDI) at its annual plenary session on Monday.

At the meeting, Xi told CCDI to keep an eye on inappropriate ties between off...

sources

Xinhua: 习近平在二十届中央纪委二次全会上发表重要讲话

January 10, 2023

Joined at the hip

Alibaba is 100% down with the government’s agenda. That was the message from CEO Daniel Zhang at a recent business roundtable broadcast on national TV. Zhang stressed that the market opportunities for Alibaba in 2023 are in the integration of the digital economy and the real economy. That focus wi…

Alibaba is 100% down with the government's agenda.

That was the message from CEO Daniel Zhang at a recent business roundtable broadcast on national TV.

Zhang stressed that the market opportunities for Alibaba in 2023 are in the integration of the digital economy and the real economy.
That focus wi...

sources

CE.cn: 央视对话阿里巴巴张勇：2023年最大机会在于数实融合

January 10, 2023

Deep dive | Muzzling the wolf pack?

Can we get a mulligan over here? There’s no way around it: 2022 was a disaster for China’s diplomatic efforts. Let’s have a quick look at the lowlight reel: In February, China was (probably) caught off-guard by Russia’s invasion of Ukraine, forcing Beijing to walk an awkward rhetorical tightrope an…

Can we get a mulligan over here?
There’s no way around it: 2022 was a disaster for China’s diplomatic efforts.
Let’s have a quick look at the lowlight reel:

In February, China was (probably) caught off-guard by Russia’s invasion of Ukraine, forcing Beijing to walk an awkward rhetorical tightrope an...

sources

Pew: How Global Public Opinion of China Has Shifted in the Xi Era

MoFA: Full text of the report to the 20th National Congress of the Communist Party of China

January 10, 2023

Cutting carbs

Lithium carbonate prices are set to drop steeply, bringing down lithium-ion battery prices. The skinny from the big man: On Sunday, Cui Dongshu, the secretary general of the China Passenger Car Association, forecast that NEV battery costs are “bound to drop significantly.” The big slide has already …

Lithium carbonate prices are set to drop steeply, bringing down lithium-ion battery prices.
The skinny from the big man: On Sunday, Cui Dongshu, the secretary general of the China Passenger Car Association, forecast that NEV battery costs are "bound to drop significantly."
The big slide has already ...

sources

The Paper: 全国乘联会秘书长崔东树：碳酸锂价格将大跌，电池成本必将明显下降

January 10, 2023

Santa is real

Credit finally started flowing for China’s property developers in December after a painful 2022. China’s top 100 developers raised RMB 101.8 billion in new financing last month, according to China Real Estate Information Corp. (CRIC), an independent data provider (Caixin). That figure is: 33.4% mo…

Credit finally started flowing for China’s property developers in December after a painful 2022.
China’s top 100 developers raised RMB 101.8 billion in new financing last month, according to China Real Estate Information Corp. (CRIC), an independent data provider (Caixin).
That figure is:

33.4% mo...

sources

Caixin: Chinese Property Developers Get Year-End Financing Boost, Consultancy Says

January 10, 2023

Fiscal fizzle?

The Ministry of Finance (MoF) has repeatedly signaled that fiscal spending will increase in 2023. On Monday, Bloomberg offered some insight into just how big the bump might be. Citing unnamed sources, Bloomberg reported that Beijing is considering setting the 2023 special-purpose bond (SPB) quota …

The Ministry of Finance (MoF) has repeatedly signaled that fiscal spending will increase in 2023.

On Monday, Bloomberg offered some insight into just how big the bump might be.

Citing unnamed sources, Bloomberg reported that Beijing is considering setting the 2023 special-purpose bond (SPB) quota ...

sources

Bloomberg: China Considering Record Local Debt Quota, Wider Budget Deficit

January 10, 2023

Chengdu sidles up to the metaverse

On December 26, Chengdu released a three-year action plan for metaverse industry development. Background: Chengdu’s plan follows a spate of similar plans released by local governments nationwide, like Henan, Kunshan, and Beijing. The big number: By 2025, Chengdu wants to see the scale of local me…

On December 26, Chengdu released a three-year action plan for metaverse industry development.
Background: Chengdu's plan follows a spate of similar plans released by local governments nationwide, like Henan, Kunshan, and Beijing.
The big number: By 2025, Chengdu wants to see the scale of local me...

sources

Chengdu New Economic Development Committee: 成都市元宇宙产业发展行动方案（2022—2025年）

January 10, 2023

The semiconductor cuddle puddle

On Thursday, Yasutoshi Nishimura, Japan’s Minister of Economy, Trade, and Industry, sat down with US counterpart Secretary of Commerce Gina Raimondo in Washington. The interesting bit: Nishimura strongly suggested that Japan would join US tech export controls against China, saying: “We will impleme…

On Thursday, Yasutoshi Nishimura, Japan's Minister of Economy, Trade, and Industry, sat down with US counterpart Secretary of Commerce Gina Raimondo in Washington.
The interesting bit: Nishimura strongly suggested that Japan would join US tech export controls against China, saying:

“We will impleme...

sources

CSIS: "Building a New Order after Overcoming an Illusion"

SCMP: Japanese official signals that Tokyo will join US in chip ban against China

US Department of Commerce: Readout of Secretary Raimondo’s Meeting with Japan’s Minister of Economy, Trade and Industry Yasutoshi Nishimura

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