string(13) "markets-macro"

Macro

January 6, 2023

A high-quality mission

China’s foreign exchange regulator (SAFE) wants more capital flowing to innovative firms. That was one of the more interesting takeaways from its annual work conference, held Wednesday. ICYDK: In addition to managing China’s USD 3.1 trillion in forex reserves, SAFE also drafts regs for and oversees … Username Password Remember Me Forgot Password

China’s foreign exchange regulator (SAFE) wants more capital flowing to innovative firms.
That was one of the more interesting takeaways from its annual work conference, held Wednesday.
ICYDK: In addition to managing China’s USD 3.1 trillion in forex reserves, SAFE also drafts regs for and oversees ...

sources

SAFE: 国家外汇管理局召开2023年全国外汇管理工作会议

January 6, 2023

Is the ship coming in?

Australian coal may soon be inbound to China for the first time in over two years. On Wednesday, Bloomberg scooped that the macro planner (NDRC) is in talks with four huge state-owned coal importers to allow them to resume purchasing Aussie coal. ICYDK: Beijing restricted imports of Australian coal …

Australian coal may soon be inbound to China for the first time in over two years.
On Wednesday, Bloomberg scooped that the macro planner (NDRC) is in talks with four huge state-owned coal importers to allow them to resume purchasing Aussie coal.
ICYDK: Beijing restricted imports of Australian coal ...

sources

Bloomberg: China Discussing Easing of Ban on Australia Coal Imports

S&P Global: China nears lifting over two-year-old unofficial ban on Australian coal imports

January 6, 2023

Apple Luxshares the wealth

On Wednesday, the Financial Times (FT) reported that Chinese manufacturer Luxshare had won a major contract to produce Apple’s flagship iPhone models. Background: Until recently, the Taiwanese firm Foxconn had been solely responsible for mass-producing Apple’s flagship iPhones. But Foxconn’s mega-f…

On Wednesday, the Financial Times (FT) reported that Chinese manufacturer Luxshare had won a major contract to produce Apple's flagship iPhone models.
Background: Until recently, the Taiwanese firm Foxconn had been solely responsible for mass-producing Apple's flagship iPhones.

But Foxconn's mega-f...

sources

Financial Times: Foxconn’s biggest Chinese rival wins premium iPhone contract

January 6, 2023

MoHURD, Mo problems

China’s authorities are gearing up to revive housing demand this year. On Thursday, Minister of Housing Ni Hong hinted at how Beijing intends to go about it. In an interview with CCTV, Ni said that it’s necessary to provide strong support to people who buy their one and only home. In particular, mo…

China’s authorities are gearing up to revive housing demand this year.
On Thursday, Minister of Housing Ni Hong hinted at how Beijing intends to go about it.
In an interview with CCTV, Ni said that it’s necessary to provide strong support to people who buy their one and only home.

In particular, mo...

sources

CCTV: 精准施策推动房地产市场平稳健康发展

January 6, 2023

A big carrot

Regulators are extending a program that lowers mortgage rates for first-home buyers as part of efforts to kick-start the housing market. On Thursday, the central bank (PBoC) and banking regulator (CBIRC) published a notice allowing cities where house prices are falling to continue to cut – and even …

Regulators are extending a program that lowers mortgage rates for first-home buyers as part of efforts to kick-start the housing market.
On Thursday, the central bank (PBoC) and banking regulator (CBIRC) published a notice allowing cities where house prices are falling to continue to cut – and even ...

sources

PBoC: 人民银行、银保监会建立首套住房贷款利率政策动态调整机制

January 6, 2023

New directions for chip subsidies?

On Wednesday, Bloomberg reported that a rumored RMB 1 trillion (USD 145 billion) subsidy package for the Chinese semiconductor industry isn’t happening – at least for now. According to the report, officials are looking for alternative ways to support the sector, aside from dishing out cold, hard ca…

On Wednesday, Bloomberg reported that a rumored RMB 1 trillion (USD 145 billion) subsidy package for the Chinese semiconductor industry isn't happening – at least for now.

According to the report, officials are looking for alternative ways to support the sector, aside from dishing out cold, hard ca...

sources

Bloomberg: Battered by Covid, China Hits Pause on Giant Chip Spending Aimed at Rivaling US

IC Smart: 魏少军：中国半导体产业未来的五大预判！

January 6, 2023

New directions for chip subsidies?

On Wednesday, Bloomberg reported that a rumored RMB 1 trillion (USD 145 billion) subsidy package for the Chinese semiconductor industry isn't happening - at least for now.

According to the report, officials are looking for alternative ways to support the sector, aside from dishing out cold, hard ca...

sources

Bloomberg: Battered by Covid, China Hits Pause on Giant Chip Spending Aimed at Rivaling US

IC Smart: 魏少军：中国半导体产业未来的五大预判！

January 5, 2023

Happy New Year, Y’all

Premier Li Keqiang wants everyone to have a nice, safe, and warm Lunar New Year (LNY) holiday. Indeed, on Wednesday, Li chaired the weekly State Council executive meeting with this exact idea in mind, as the meeting focused on ensuring people’s livelihoods in the run up to the LNY. Specifically, Li …

Premier Li Keqiang wants everyone to have a nice, safe, and warm Lunar New Year (LNY) holiday.
Indeed, on Wednesday, Li chaired the weekly State Council executive meeting with this exact idea in mind, as the meeting focused on ensuring people’s livelihoods in the run up to the LNY.
Specifically, Li ...

sources

Xinhua: 李克强主持召开国务院常务会议

January 5, 2023

Your activities are detrimental to China’s interests

China is giving its foreign policy some legal oomph. On Friday, the National People’s Congress (NPC) released for public comment a draft Foreign Relations Law. Mostly, the law is a codification of China’s longstanding foreign policy principles, including: An independent foreign policy of peace Resp…

China is giving its foreign policy some legal oomph.
On Friday, the National People’s Congress (NPC) released for public comment a draft Foreign Relations Law.
Mostly, the law is a codification of China’s longstanding foreign policy principles, including:

An independent foreign policy of peace
Resp...

sources

NPC Observer: 中华人民共和国对外关系法(草案)

NPC Observer: 关于《中华人民共和国对外关系法（草案）》的说明

January 5, 2023

Talent, talent, and more talent!

On Tuesday, Ministry of Science and Technology (MoST) head Wang Zhigang gave an interview to domestic media outlining the agencies priorities for 2023. What stood out: Wang is particularly preoccupied with solving China’s STEM talent shortage. Background: As we’ve covered at length, China lacks en…

On Tuesday, Ministry of Science and Technology (MoST) head Wang Zhigang gave an interview to domestic media outlining the agencies priorities for 2023.
What stood out: Wang is particularly preoccupied with solving China's STEM talent shortage.
Background: As we've covered at length, China lacks en...

sources

STDaily: 以高水平科技自立自强支撑高质量发展

January 5, 2023

What the #!@* just happened?

Trivium has been pondering the hows and whys of Xi Jinping’s sharp U-turn on China’s zero-COVID policy, after nearly three years of stringent controls and rolling lockdowns. The abrupt abandonment of a top-level policy is uncharacteristic of Chinese leadership decision-making. On Wednesday, the Wa…

Trivium has been pondering the hows and whys of Xi Jinping's sharp U-turn on China's zero-COVID policy, after nearly three years of stringent controls and rolling lockdowns.

The abrupt abandonment of a top-level policy is uncharacteristic of Chinese leadership decision-making.

On Wednesday, the Wa...

sources

WSJ: Why Xi Jinping Reversed His Zero-Covid Policy in China

January 5, 2023

Omicron broke zero-COVID

The reasons listed by WSJ sources are undoubtedly important factors in the dramatic reversal of zero-COVID policy: The successful conclusion of the 20th Party Congress presented a golden window of opportunity to review and reassess policy. The worsening economic conditions and depleted local fiscal…

The reasons listed by WSJ sources are undoubtedly important factors in the dramatic reversal of zero-COVID policy:

The successful conclusion of the 20th Party Congress presented a golden window of opportunity to review and reassess policy.
The worsening economic conditions and depleted local fiscal...

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