string(13) "markets-macro"

Macro

December 5, 2022

Bonding with pandas

Beijing is taking another small step to internationalize the yuan, this time making it easier for foreign firms to borrow in the Chinese currency. On Friday, the central bank (PBoC) and foreign exchange regulator (SAFE) jointly issued new measures to facilitate issuance of panda bonds by overseas in… Username Password Remember Me Forgot… Read More »

Beijing is taking another small step to internationalize the yuan, this time making it easier for foreign firms to borrow in the Chinese currency.
On Friday, the central bank (PBoC) and foreign exchange regulator (SAFE) jointly issued new measures to facilitate issuance of panda bonds by overseas in...

sources

PBoC: 中国人民银行国家外汇管理局关于境外机构境内发行债券资金管理有关事宜的通知

Xinhua: China releases new rules for panda bonds to facilitate overseas issuers

December 5, 2022

Dollars from heaven

A major cause of recent USD bond defaults among Chinese property developers has been a lack of dollars to repay offshore bonds. Beijing is now stepping in to fix that. On Friday, Reuters reported that the big four state-owned commercial banks have been instructed verbally to issue offshore loans t…

A major cause of recent USD bond defaults among Chinese property developers has been a lack of dollars to repay offshore bonds.

Beijing is now stepping in to fix that.

On Friday, Reuters reported that the big four state-owned commercial banks have been instructed verbally to issue offshore loans t...

sources

Reuters: China's top banks to issue offshore loans to help developers repay debt

December 5, 2022

The Gang show

Policymakers are gearing up for a post-COVID economy. On Friday, central bank (PBoC) governor Yi Gang spoke by videolink at a conference hosted by the Bank of Thailand and the Bank for International Settlements. A dozen central bankers dialed in or showed up, including European Central Bank Preside…

A dozen central bankers dialed in or showed up, including European Central Bank Preside...

sources

Bloomberg: China’s Central Bank Governor Says Focus Is Now on Growth

December 3, 2022

Xi and Michel

Yesterday, Xi sat down with President of the European Council, Charles Michel, during his visit to China. Michel leads representation of the EU internationally. On the agenda: Tech policy. The EU is currently trying to hammer out its tech policy regarding China, such as whether to follow the US’ …

Yesterday, Xi sat down with President of the European Council, Charles Michel, during his visit to China.

Michel leads representation of the EU internationally.

On the agenda: Tech policy.

The EU is currently trying to hammer out its tech policy regarding China, such as whether to follow the US’ ...

sources

MoFA: President Xi Jinping Holds Talks with European Council President Charles Michel

European Council: Remarks by President Charles Michel following the meeting with Chinese President Xi Jinping

December 2, 2022

Move away from zero-COVID continues

Less than 24 hours ago, we called the turning of the zero-COVID policy, after seeing real signals of change. Since then, we have seen more evidence that things are already turning around on the ground. In the last 24 hours: Local government-affiliated media has called on people to take “individu…

Less than 24 hours ago, we called the turning of the zero-COVID policy, after seeing real signals of change.

Since then, we have seen more evidence that things are already turning around on the ground.

In the last 24 hours:

Local government-affiliated media has called on people to take "individu...

sources

The Paper: 多地带着防疫新对策进入12月，官媒呼吁市民扛起个人责任

21st Century Biz: 黄坤明主持召开省委常委会会议：研究部署疫情防控工作审议我省关于推进卫生健康高质量发展的意见

21st Century Biz: 12月5日起，北京公交地铁不得拒绝无48小时核酸阴性乘客

Tianjin Government WeChat Account: 天津地铁通告：乘车取消查验72小时核酸证明

Sina: 12月2日起成都地铁不再查验核酸检测报告

Yicai: 探访广州海珠区：商超地铁药店不看核酸时效，采样点呼吁非必要不核酸

The Paper: 广州卫健委：设立便民采样点，鼓励家庭自备抗原试剂盒

December 2, 2022

Michel, ma belle, these are words that go together well

On Wednesday, Xi Jinping welcomed President of the European Council Charles Michel to Beijing for a three-hour meeting. Bet that was awkward: Sino-EU relations have been on a downward slide in recent years. Disagreements over trade practices and human rights, as well as China’s abrasive diplomacy, …

Disagreements over trade practices and human rights, as well as China’s abrasive diplomacy, ...

sources

Gov.cn: 习近平同欧洲理事会主席米歇尔举行会谈

MoFA: President Xi Jinping Holds Talks with European Council President Charles Michel

European Council: Remarks by President Charles Michel following the meeting with Chinese President Xi Jinping

December 2, 2022

Jiang’s final journey

On Thursday afternoon, the body of China’s former Party chief Jiang Zemin was flown from Shanghai to Beijing. Jiang died on Wednesday at the age of 96. Online mourners have been celebrating in Jiang what they think Xi Jinping lacks. Xi and his wife Peng Liyuan, plus dozens of other black-clad Part…

On Thursday afternoon, the body of China's former Party chief Jiang Zemin was flown from Shanghai to Beijing.

Jiang died on Wednesday at the age of 96.
Online mourners have been celebrating in Jiang what they think Xi Jinping lacks.

Xi and his wife Peng Liyuan, plus dozens of other black-clad Part...

sources

CCTV: 江泽民同志遗体由专机敬移北京习近平等党和国家领导同志到机场迎灵

CCTV: 江泽民同志治丧委员会公告（第2号）

December 2, 2022

No easy answers

Beijing is pulling out all the stops to prevent people back-sliding into poverty. On Thursday, we covered efforts to expand social assistance to low-income households. Here’s another example: On Wednesday, regulators issued a notice calling to expand a state-run ecommerce platform that helps farm…

Beijing is pulling out all the stops to prevent people back-sliding into poverty.

On Thursday, we covered efforts to expand social assistance to low-income households.

Here's another example: On Wednesday, regulators issued a notice calling to expand a state-run ecommerce platform that helps farm...

sources

Ministry of Finance: 财政部办公厅农业农村部办公厅国家乡村振兴局综合司中华全国供销合作总社办公厅关于进一步做好政府采购脱贫地区农副产品有关工作的通知

December 2, 2022

Turning the page on zero-COVID

It’s finally happened: As we wrote yesterday, China is moving away from its zero-COVID policy. This happened quickly: Just three days ago Beijing signaled that it was going to ramp up efforts to enforce its recently “optimized” zero-COVID playbook. So, what changed? Top leadership had already…

It’s finally happened: As we wrote yesterday, China is moving away from its zero-COVID policy.
This happened quickly: Just three days ago Beijing signaled that it was going to ramp up efforts to enforce its recently “optimized” zero-COVID playbook.
So, what changed?

Top leadership had already...

December 2, 2022

TikTok’s pending deal is mixed news for cross-border data flows

On Wednesday, TikTok CEO Shou Zi Chew told an audience in New York that he is confident the company will reach an agreement with US authorities. ICYMI: TikTok is trying to reach a deal with the US to entrust all its US user data to Oracle servers and avoid getting kicked out…

On Wednesday, TikTok CEO Shou Zi Chew told an audience in New York that he is confident the company will reach an agreement with US authorities.
ICYMI: TikTok is trying to reach a deal with the US to entrust all its US user data to Oracle servers and avoid getting kicked out...

sources

Bloomberg: TikTok CEO Says US Data Protection Is ‘Solvable Problem’

December 2, 2022

Flash talk | Beijing’s new property measures: Triage, not reflation

For most of the last two years, Beijing has remained surprisingly hands-off in its management of the property sector’s decline. No longer. Over the past couple of months, officials have rolled out a wave of measures designed to ease the sector’s distress, culminating in a package of 16 measures ro…

For most of the last two years, Beijing has remained surprisingly hands-off in its management of the property sector’s decline.
No longer.
Over the past couple of months, officials have rolled out a wave of measures designed to ease the sector’s distress, culminating in a package of 16 measures ro...

December 2, 2022

Reality check

In an article released on Thursday, Guan Tao, a former forex official (SAFE), poured cold water on speculation that China’s digital currency (e-CNY) could soon become an international currency. ICYDK: Guan is also a founding member of China Finance 40 Forum, an elite think tank for Chinese financial…

In an article released on Thursday, Guan Tao, a former forex official (SAFE), poured cold water on speculation that China’s digital currency (e-CNY) could soon become an international currency.
ICYDK: Guan is also a founding member of China Finance 40 Forum, an elite think tank for Chinese financial...

sources

Sina: 管涛：从货币的功能看数字货币与货币国际化的关系

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