string(13) "markets-macro"

Macro

December 6, 2022

Tsingshan wants the Li-ion’s share

On December 1, Tsingshan Group (Tsingshan) announced plans to build two million metric tons of annual lithium processing capacity in Zimbabwe (Caixin). That’s in addition to three million metric tons of new steel production capacity (it already has two million), five million metric tons of coke pro… Username Password Remember Me Forgot Password

On December 1, Tsingshan Group (Tsingshan) announced plans to build two million metric tons of annual lithium processing capacity in Zimbabwe (Caixin).

That's in addition to three million metric tons of new steel production capacity (it already has two million), five million metric tons of coke pro...

sources

Caixin: 青山集团扩大在津巴布韦投资开拓当地锂加工业务

December 6, 2022

US formally drops case against Meng Wanzhou

On Friday, a US Judge dismissed the indictment against Huawei senior executive Meng Wanzhou, formally ending the case against her that began nearly four years ago. Unnecessary recap: The US requested that the Canadian government detain Meng pending extradition to face charges relating to Huawei’s al…

On Friday, a US Judge dismissed the indictment against Huawei senior executive Meng Wanzhou, formally ending the case against her that began nearly four years ago.
Unnecessary recap: The US requested that the Canadian government detain Meng pending extradition to face charges relating to Huawei's al...

sources

Caixin: 孟晚舟案完结美国政府申请撤销指控

Reuters: U.S. judge dismisses indictment against Huawei CFO that strained U.S.-China relations

China Daily: US drops charges against Meng Wanzhou

December 6, 2022

Get rich before you get old

China’s long-awaited personal pension system has finally launched, after a flurry of regulatory activity in late November heralded the first phase of the rollout. It’s high time: The country is facing potentially disastrous shortfalls in its RMB 9 trillion-ish state pension system. Estimates that …

China's long-awaited personal pension system has finally launched, after a flurry of regulatory activity in late November heralded the first phase of the rollout.
It’s high time: The country is facing potentially disastrous shortfalls in its RMB 9 trillion-ish state pension system.

Estimates that ...

sources

MoHRSS: 个人养老金先行城市（地区）名单

Caixin: 129只养老目标基金入围个人养老金可投产品名录

CSRC: 个人养老金基金名录（截至2022年11月18日）

The Paper: 机构纷纷“开单”个人养老金基金，有银行系公募卖了两千多万

December 5, 2022

I heard it through the grapevine

The big man himself may have finally given up on zero-COVID. On Friday, the SCMP quoted a senior European Union official, in attendance at Xi Jinping’s Wednesday meeting with European Council President Charles Michel, who said Xi hinted that a shift away from zero-COVID was underway. According to th…

The big man himself may have finally given up on zero-COVID.
On Friday, the SCMP quoted a senior European Union official, in attendance at Xi Jinping’s Wednesday meeting with European Council President Charles Michel, who said Xi hinted that a shift away from zero-COVID was underway.
According to th...

sources

SCMP: Chinese President Xi Jinping believes ‘frustrated students’ are behind Covid-19 protests, EU officials say

December 5, 2022

Time to take stock

Want to know what’s really going on in the world’s second largest economy? Well, you’re in luck. The government will conduct its fifth national economic census in 2023, to gather data on the secondary and tertiary sectors. For the newbies: China’s last economic census was conducted in 2018. Here’s …

Want to know what's really going on in the world's second largest economy?
Well, you're in luck. The government will conduct its fifth national economic census in 2023, to gather data on the secondary and tertiary sectors.
For the newbies: China's last economic census was conducted in 2018.
Here's ...

sources

Gov.cn: 国务院关于开展第五次全国经济普查的通知

SCMP: China revises up 2018 GDP after new census, making it easier to double size of economy in 2020

December 5, 2022

Major COVID relaxations to be announced this week

On Friday, we highlighted that significant changes to China’s zero-COVID policy are finally afoot. And things are now moving very fast. We continue to expect that central leaders will release more specific guidelines on the relaxations, perhaps as soon as Wednesday. But even without an updated nat…

On Friday, we highlighted that significant changes to China's zero-COVID policy are finally afoot.

And things are now moving very fast.

We continue to expect that central leaders will release more specific guidelines on the relaxations, perhaps as soon as Wednesday.
But even without an updated nat...

sources

The Paper: 全国多地同日宣布优化疫情防控，涉及核酸、出行、购药等

December 5, 2022

Tencent eyes government cloud

On Saturday, Tencent vice president Li Qiang told Jiemian that the company is eyeing the government cloud business. Background: In July, Tencent Cloud set up a new team, headed by Li, to tackle SOE clients. Wait a minute: At the height of the tech crackdown, rumor had it that government agencies an…

On Saturday, Tencent vice president Li Qiang told Jiemian that the company is eyeing the government cloud business.
Background: In July, Tencent Cloud set up a new team, headed by Li, to tackle SOE clients.
Wait a minute: At the height of the tech crackdown, rumor had it that government agencies an...

sources

Jiemian: 腾讯李强：政企市场潜力很高，对腾讯身份的焦虑只是表象

December 5, 2022

Apple to accelerate diversification outside China

On Saturday, the WSJ reported that Apple is accelerating its plan to move production out of China, citing unnamed sources. The reason: Apple is sick of supply chain disruptions in China. ICYMI: In the past few months, Foxconn’s Zhengzhou factory – which manufactured about 85% of the iPhone Pro serie…

On Saturday, the WSJ reported that Apple is accelerating its plan to move production out of China, citing unnamed sources.
The reason: Apple is sick of supply chain disruptions in China.
ICYMI: In the past few months, Foxconn’s Zhengzhou factory – which manufactured about 85% of the iPhone Pro serie...

sources

WSJ: Apple Makes Plans to Move Production Out of China

SCMP: Apple’s biggest contractor Foxconn pumps new investment into facilities in northern China as ‘iPhone City’ struggles

December 5, 2022

Special times, special bonds

China’s local governments have been using special purpose bonds (SPBs) to build COVID quarantine facilities – and they’re accumulating future fiscal challenges as they do so. That’s according to a less-than-shocking Friday report from Caixin. The details: Shandong province earmarked RMB 12.8 bill…

China's local governments have been using special purpose bonds (SPBs) to build COVID quarantine facilities – and they're accumulating future fiscal challenges as they do so.

That's according to a less-than-shocking Friday report from Caixin.

The details:

Shandong province earmarked RMB 12.8 bill...

sources

Caixin: 鲁冀苏等多地发行专项债建方舱隔离点偿债存隐忧

km167.com: 鲁冀苏等多地发行专项债建方舱隔离点偿债存隐忧

Caixin Global: China’s Latest Local Government Debt Risk — Covid Facilities

December 5, 2022

Conducting the future

China is set to launch the world’s first industrial silicon futures. On Friday, the securities regulator (CSRC) approved the launch of silicon futures and options contracts on the Guangzhou Futures Exchange, although it didn’t say when trading will begin. Some context: The CSRC established the Guang…

China is set to launch the world's first industrial silicon futures.
On Friday, the securities regulator (CSRC) approved the launch of silicon futures and options contracts on the Guangzhou Futures Exchange, although it didn't say when trading will begin.
Some context: The CSRC established the Guang...

sources

Reuters: China to launch silicon futures as demand from solar sector surges

Bloomberg: Soaring Solar Costs Lead Chinese Group to Stop Publishing Prices

December 5, 2022

China’s banking regulator cracks down on figures of speech

On Friday, China’s banking regulator (CBIRC) and three other ministries tightened rules prohibiting organizations from calling themselves “banks.” Quick background: China’s Commercial Bank Law states that any entity calling itself a “bank” must seek explicit approval from CBIRC. The new notice clari…

On Friday, China’s banking regulator (CBIRC) and three other ministries tightened rules prohibiting organizations from calling themselves “banks."
Quick background: China’s Commercial Bank Law states that any entity calling itself a “bank” must seek explicit approval from CBIRC.
The new notice clari...

sources

MIIT: 中国银保监会国家互联网信息办公室工业和信息化部市场监管总局关于规范 “银行”字样使用有关事项的通知

People.cn: “时间银行”“粮食银行”不能用了！四部门规范“银行”字样使用

December 5, 2022

Kraft-werking on 5G network security

On Friday, Reuters reported that the German government has indicated it doesn’t intend to implement blanket US-style bans on Chinese telecoms like Huawei in domestic 5G networks. An Economy Ministry spokesperson stated that decisions on which products would be banned for which uses will be made on …

On Friday, Reuters reported that the German government has indicated it doesn't intend to implement blanket US-style bans on Chinese telecoms like Huawei in domestic 5G networks.

An Economy Ministry spokesperson stated that decisions on which products would be banned for which uses will be made on ...

sources

Reuters: German government not planning blanket Huawei ban

Reuters: German strategy paper targets China trade dependence

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