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Macro

November 24, 2022

Be red (and expert)

Over his decade in power, Xi Jinping has significantly changed the selection procedures and major criteria for choosing and promoting Party cadres at all levels – downplaying or abolishing the “inner-Party democracy” procedures introduced by his predecessor, Hu Jintao. Won’t take our word for it? Th… Username Password Remember Me Forgot Password

Over his decade in power, Xi Jinping has significantly changed the selection procedures and major criteria for choosing and promoting Party cadres at all levels – downplaying or abolishing the "inner-Party democracy" procedures introduced by his predecessor, Hu Jintao.
Won't take our word for it? Th...

sources

People.cn: 建设堪当民族复兴重任的高素质干部队伍（认真学习宣传贯彻党的二十大精神）

November 24, 2022

Stick to the plan, man

Premier Li Keqiang is worried about Q4. Who isn’t? At Wednesday’s State Council meeting, he emphasized (Gov.cn): “Economic operation in the fourth quarter is very important to the economic performance of the whole year” “Now is the critical time to consolidate economic stability and recovery” In…

Premier Li Keqiang is worried about Q4.

Who isn't?

At Wednesday's State Council meeting, he emphasized (Gov.cn):

“Economic operation in the fourth quarter is very important to the economic performance of the whole year"
“Now is the critical time to consolidate economic stability and recovery”

In...

sources

Gov.cn: 李克强主持召开国务院常务会议部署抓实抓好稳经济一揽子政策和接续措施全面落地见效等

November 24, 2022

State Council sends an RRR smoke signal

On Wednesday, Premier Li Keqiang chaired the weekly State Council executive meeting. The topic: Support Q4 economic recovery. The headline-maker: It’s time to inject some cash into the economy. Li said the government will (Gov.cn): “Utilize monetary policy tools such as cuts to the reserve requirem…

On Wednesday, Premier Li Keqiang chaired the weekly State Council executive meeting.
The topic: Support Q4 economic recovery.
The headline-maker: It's time to inject some cash into the economy.
Li said the government will (Gov.cn):

“Utilize monetary policy tools such as cuts to the reserve requirem...

sources

Gov.cn: 李克强主持召开国务院常务会议部署抓实抓好稳经济一揽子政策和接续措施全面落地见效等

November 24, 2022

Quick take | Xi’s back, baby!

On Saturday, Xi Jinping wrapped up a whirlwind (and we do mean whirlwind) tour of Southeast Asia. Eschewing the standard elephant pants and full moon parties usually associated with travel in the region, Xi attended: The 17th G20 Summit in Bali, Indonesia The 29th APEC Economic Leaders Meeting in B…

On Saturday, Xi Jinping wrapped up a whirlwind (and we do mean whirlwind) tour of Southeast Asia.
Eschewing the standard elephant pants and full moon parties usually associated with travel in the region, Xi attended:

The 17th G20 Summit in Bali, Indonesia
The 29th APEC Economic Leaders Meeting in B...

sources

MFA: President Xi Jinping Attends the 17th G20 Summit and Delivers Important Remarks

MFA: President Xi Jinping Attends the 29th APEC Economic Leaders’ Meeting and Delivers Important Remarks

November 24, 2022

Flash talk | COVID: 20 tweaks two weeks in

It’s been (almost) two weeks since central authorities issued 20 tweaks to the zero-COVID policy on November 11. At the time, we argued that the changes, which place extra responsibility on local authorities for overzealous COVID controls, would have officials walking a fine line between going too f…

It's been (almost) two weeks since central authorities issued 20 tweaks to the zero-COVID policy on November 11.
At the time, we argued that the changes, which place extra responsibility on local authorities for overzealous COVID controls, would have officials walking a fine line between going too f...

November 24, 2022

Don’t get too excited yet

Over the weekend, domestic media got a little too excited about a new lithography patent filed by Huawei. What they’re saying: Huawei is now one step closer to breaking through a bottleneck in China’s semiconductor supply chain – EUV lithography machines. Some context: Huawei reportedly …

Over the weekend, domestic media got a little too excited about a new lithography patent filed by Huawei.
What they’re saying: Huawei is now one step closer to breaking through a bottleneck in China’s semiconductor supply chain – EUV lithography machines.
Some context: Huawei reportedly ...

sources

ITHome: 华为EUV光刻新专利公开解决相干光无法匀光问题

November 24, 2022

Baidu shrugs off US export control

On Tuesday, Baidu shrugged off the impact of US export controls on chips during the company’s Q3 earnings call. ICYMI: The controls restrict Nvidia – the world’s leading AI chip company – from selling its high-end GPUs (above a certain performance threshold) to China. Chip foundries lik…

On Tuesday, Baidu shrugged off the impact of US export controls on chips during the company’s Q3 earnings call.
ICYMI: The controls restrict Nvidia – the world’s leading AI chip company – from selling its high-end GPUs (above a certain performance threshold) to China.

Chip foundries lik...

sources

The Motley Fool: Baidu (BIDU) Q3 2022 Earnings Call Transcript

Caixin: 财新周刊｜博弈GPU

November 24, 2022

Operation strategic cooperation generation

Three of China’s biggest banks have heeded Beijing’s call – and are riding to the rescue of struggling property developers. On Wednesday, a trio of banks stepped forward to sign strategic cooperation agreements with developers to help ease their troubles. The agreements are in line with the central…

Three of China’s biggest banks have heeded Beijing's call – and are riding to the rescue of struggling property developers.
On Wednesday, a trio of banks stepped forward to sign strategic cooperation agreements with developers to help ease their troubles.

The agreements are in line with the central...

sources

Yicai: 独家丨农行与五家房企签署银企战略合作协议

Yicai: 独家丨中国银行与万科签署战略合作提供不超过1000亿元授信额度

Yicai: “第二支箭”扩容、银行给出千亿授信，民营房企融资再获支持

People's Bank of China: 中国人民银行中国银行保险监督管理委员会关于做好当前金融支持房地产市场平稳健康发展工作的通知

November 24, 2022

Automating the blue collar worker

On Wednesday, The Ministry of Housing and Urban-Rural Development (MoHURD) announced 24 cities for “intelligent construction” pilots. Some background: Construction has long been one of the most problematic sectors of China’s economy from a labor standpoint. Officials have to deal with constant prot…

On Wednesday, The Ministry of Housing and Urban-Rural Development (MoHURD) announced 24 cities for "intelligent construction" pilots.
Some background: Construction has long been one of the most problematic sectors of China's economy from a labor standpoint.

Officials have to deal with constant prot...

sources

People's Daily: 智能建造试点“火热开工” 助推建筑行业转型升级

November 24, 2022

Foxconn & zero-COVID present: Les Miserables

On Wednesday, several news outlets reported riots at Foxconn’s “iPhone City” in Zhengzhou. Videos show security personnel violently assaulting workers. Some background: After a massive October walkout, desperate attempts were made to stabilize the factory. Foxconn promised to rigorously follow “c…

On Wednesday, several news outlets reported riots at Foxconn's "iPhone City" in Zhengzhou.

Videos show security personnel violently assaulting workers.

Some background: After a massive October walkout, desperate attempts were made to stabilize the factory.

Foxconn promised to rigorously follow "c...

sources

SCMP: Foxconn offers US$1,400 to new hires to leave Zhengzhou factory after violent protests over benefits and Covid-19 controls

Sina: 郑州富士康：对选择离职返乡的新进员工给予一万元补贴

November 24, 2022

EU won’t be pushed around on chips

At a debate at the EU Parliament on Tuesday, EU foreign affairs head Josep Borrell implied that the EU, like the US, needed its own semiconductor restrictions against China: “We need to update our policy … in light of … the very important American [US] declaration … concerning the drastic redu…

At a debate at the EU Parliament on Tuesday, EU foreign affairs head Josep Borrell implied that the EU, like the US, needed its own semiconductor restrictions against China:

“We need to update our policy … in light of ... the very important American [US] declaration ... concerning the drastic redu...

sources

SCMP: EU will not follow US’ China policy, top diplomat says in fiery debate with lawmakers

EEAS - EU Diplomatic Service: China: Speech by High-Representative/Vice-President Josep Borrell at the EP debate on EU-China relations

November 23, 2022

Shanghai tightens COVID protocols for domestic visitors

China’s financial hub is hustling to insulate itself from rising COVID cases nationwide. On Tuesday, Shanghai announced new restrictions on the mobility of out-of-town arrivals, including city residents returning from elsewhere. From Thursday, a new feature will be added to people’s digital health …

China's financial hub is hustling to insulate itself from rising COVID cases nationwide.
On Tuesday, Shanghai announced new restrictions on the mobility of out-of-town arrivals, including city residents returning from elsewhere.

From Thursday, a new feature will be added to people’s digital health ...

sources

Shanghai Government WeChat Account: 我市进一步加强来沪返沪人员健康管理

The Paper: 南昌：入昌未满5天人员，不得进入餐饮服务等公共场所

CJN.cn: 防住才是本事，坚持才能胜利！市防疫指挥部第120次工作视频会商会召开

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