string(13) "markets-macro"

Macro

January 4, 2023

Sweet charity

China’s got an inequality problem. And Xi Jinping’s Common Prosperity initiative aims to address it. One way he wants to do this: By having the rich give more to charity. But there’s a problem: China’s Charity Law, passed in 2016, just ain’t up to snuff. Since the law was passed, annual registratio… Username Password Remember… Read More »

China’s got an inequality problem.
And Xi Jinping’s Common Prosperity initiative aims to address it.
One way he wants to do this: By having the rich give more to charity.
But there’s a problem: China’s Charity Law, passed in 2016, just ain’t up to snuff.

Since the law was passed, annual registratio...

sources

NPC: 慈善法（修订草案）征求意见

China Youth Daily: 全国人大常委会会议分组审议慈善法修订草案：慈善助力第三次分配亟需支持政策落地

January 4, 2023

Putting the “solid” in “solidarity”

On Monday, Xi Jinping congratulated Luiz Inácio Lula da Silva on being sworn in as President of Brazil. Xi dispatched Vice President Wang Qishan to attend the inauguration ceremony and hand-deliver his congratulatory letter to Lula. Some context: In October, Lula, who served as Brazil’s president …

On Monday, Xi Jinping congratulated Luiz Inácio Lula da Silva on being sworn in as President of Brazil.

Xi dispatched Vice President Wang Qishan to attend the inauguration ceremony and hand-deliver his congratulatory letter to Lula.

Some context: In October, Lula, who served as Brazil’s president ...

sources

MoFA: Xi Jinping Sends Congratulatory Letter to Luiz Inacio Lula da Silva on His Inauguration as President of Brazil

Reuters: Brazil's Lula says he received letter from China's Xi on further cooperation

January 4, 2023

Vocational schools and the high-tech talent gap

On 21 December, China’s Central Committee released guidelines to improve the vocational education system. The idea is to bolster cooperation between vocational schools and key tech industries. Background: China faces massive shortages of assembly line workers in the NEV, electronics, robotics, and…

On 21 December, China's Central Committee released guidelines to improve the vocational education system.

The idea is to bolster cooperation between vocational schools and key tech industries.

Background: China faces massive shortages of assembly line workers in the NEV, electronics, robotics, and...

sources

MOE: 中共中央办公厅国务院办公厅印发《关于深化现代职业教育体系建设改革的意见》

January 4, 2023

Big tech tapped to junk pump-and-dump schemes

On December 23, the cyberspace watchdog (CAC) and securities regulator (CSRC) revealed a new plan to clean up the spread of illegal financial advice online. Newsflash: There are a whole lot of people out there promoting stocks with dubious intent. The phenomenon is pretty much as old as the concept…

On December 23, the cyberspace watchdog (CAC) and securities regulator (CSRC) revealed a new plan to clean up the spread of illegal financial advice online.
Newsflash: There are a whole lot of people out there promoting stocks with dubious intent.

The phenomenon is pretty much as old as the concept...

sources

CSRC: 中央网信办秘书局中国证监会办公厅关于印发《非法证券活动网上信息内容治理工作方案》的通知

January 4, 2023

Just how far will China’s jurisdiction over personal information extend?

The compliance devil is in the details of obscure standards documents. On December 16, information security standardization body TC260 released “V2.0” of its personal information export security certification standard. The first version was published last June. Background: The Personal Information…

The compliance devil is in the details of obscure standards documents.
On December 16, information security standardization body TC260 released “V2.0” of its personal information export security certification standard.

The first version was published last June.

Background: The Personal Information...

sources

TC260: 关于发布《网络安全标准实践指南—个人信息跨境处理活动安全认证规范V2.0》的通知

January 4, 2023

Cross-border online brokers in limbo

It’s official. On Friday, China’s security regulator (CSRC) ordered online brokers Futu Holdings and Tiger Securities to stop offering overseas brokerage services to Chinese citizens. Both Futu and Tiger are listed on the NASDAQ. ICYMI: As we flagged a year ago, state media called out FUTU …

It’s official.
On Friday, China’s security regulator (CSRC) ordered online brokers Futu Holdings and Tiger Securities to stop offering overseas brokerage services to Chinese citizens.

Both Futu and Tiger are listed on the NASDAQ.

ICYMI: As we flagged a year ago, state media called out FUTU ...

sources

SCMP: CSRC orders Futu, Tiger Brokers to stop letting new onshore traders tap global stocks

CSRC: 中国证监会推进富途控股、老虎证券非法跨境展业整治工作

January 4, 2023

Wei Shaojun on talent training

On Thursday, China Semiconductor Industry Association Vice President Wei Shaojun said China still faces tremendous challenges in churning out sufficient semiconductor talent. Some context: Wei is a well-respected policy advisor in China’s chip industry. He was commissioned by the Ministry of Educat…

On Thursday, China Semiconductor Industry Association Vice President Wei Shaojun said China still faces tremendous challenges in churning out sufficient semiconductor talent.
Some context: Wei is a well-respected policy advisor in China’s chip industry.

He was commissioned by the Ministry of Educat...

sources

Sohu: 魏少军：中国半导体产业未来的五大预判！

January 4, 2023

Dark December days

December was another bleak month for China’s housing market. Citing data from China Index Academy – an independent real estate research firm – Reuters reported Saturday that in December home prices fell for the sixth consecutive month. The data is based on home prices in 100 cities. According to C…

December was another bleak month for China’s housing market.
Citing data from China Index Academy – an independent real estate research firm – Reuters reported Saturday that in December home prices fell for the sixth consecutive month.

The data is based on home prices in 100 cities.

According to C...

sources

Reuters: China home prices fall at faster pace in December, private survey shows

January 4, 2023

When two homes just aren’t enough

Chinese cities are starting to drop restrictions on property purchases. On December 27, Caixin reported that Dongguan, a major manufacturing hub in Guangdong province, has lifted restrictions on the purchase of third homes (Caixin). It follows Foshan, another Guangdong city, that dropped similar re…

Chinese cities are starting to drop restrictions on property purchases.
On December 27, Caixin reported that Dongguan, a major manufacturing hub in Guangdong province, has lifted restrictions on the purchase of third homes (Caixin).

It follows Foshan, another Guangdong city, that dropped similar re...

sources

Caixin: Southern Chinese City Abolishes Homebuying Limits to Boost Demand

The Paper: 河南：全力稳住房地产投资，取消和调整过热时期妨碍消费需求释放的限制性政策

January 4, 2023

Ironing out the kinks

The consolidation of China’s steel industry – one of the country’s biggest GDP drivers – has taken a major step forward. On December 22, China Baowu – the world’s largest steelmaker – absorbed Sinosteel, China’s second-largest importer of iron ore. The deal provides Baowu with highly valuable upstr…

The consolidation of China's steel industry – one of the country's biggest GDP drivers – has taken a major step forward.
On December 22, China Baowu – the world's largest steelmaker – absorbed Sinosteel, China's second-largest importer of iron ore.

The deal provides Baowu with highly valuable upstr...

sources

Caixin Global: China Baowu Steel Officially Takes Over Sinosteel

January 4, 2023

Fiscally fit

The Ministry of Finance (MoF) is prepping for a fiscally active 2023. On Tuesday, Minister of Finance Liu Kun sat down for an interview with Xinhua. The topic: MoF’s 2023 priorities. Liu lamented that China’s economy still faces pressure from: Demand contraction Supply shocks Weakened expectations …

The Ministry of Finance (MoF) is prepping for a fiscally active 2023.
On Tuesday, Minister of Finance Liu Kun sat down for an interview with Xinhua.
The topic: MoF’s 2023 priorities.
Liu lamented that China’s economy still faces pressure from:

Demand contraction
Supply shocks
Weakened expectations
...

sources

Shanghai Securities News: 权威访谈 | 财政部部长刘昆：积极的财政政策加力提效有效支持高质量发展

January 4, 2023

CEWC tech agenda for 2023

On December 15 and 16, Beijing hosted the annual Central Economic Work Conference (CEWC). ICYDK: The CEWC is China’s most important Party-led economic meeting. It takes place each December, and sets the economic policy agenda for the year ahead. As expected, this year featured speeches by Xi and t…

On December 15 and 16, Beijing hosted the annual Central Economic Work Conference (CEWC).
ICYDK: The CEWC is China's most important Party-led economic meeting. It takes place each December, and sets the economic policy agenda for the year ahead.

As expected, this year featured speeches by Xi and t...

sources

Gov.cn: 中央经济工作会议举行习近平李克强李强作重要讲话

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