string(13) "markets-macro"

Macro

November 18, 2022

Deep Dive | China’s economic recovery clicks into reverse

Exec sum: The weaker-than-expected econ numbers for October can be partially blamed on the rise in COVID-19 cases. But this isn’t the only reason for the disappointing data. Part of the blame also lies with the ineffective stimulus response to this COVID drag on growth. Stimulus financing… Username Password Remember Me Forgot Password

Exec sum:

The weaker-than-expected econ numbers for October can be partially blamed on the rise in COVID-19 cases.
But this isn’t the only reason for the disappointing data. Part of the blame also lies with the ineffective stimulus response to this COVID drag on growth. Stimulus financing...

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November 17, 2022

Paying the pied pipeline

China’s state-owned oil companies face major supply chain risks from new EU sanctions set to kick in on December 5. On Wednesday, Bloomberg scooped that the companies are (quietly) requesting support from Beijing to sustain imports. Some context: On October 6, the EU approved its eighth set of sanct…

China's state-owned oil companies face major supply chain risks from new EU sanctions set to kick in on December 5.
On Wednesday, Bloomberg scooped that the companies are (quietly) requesting support from Beijing to sustain imports.
Some context: On October 6, the EU approved its eighth set of sanct...

sources

Bloomberg: China’s Top Oil Refiners Seek State Aid to Keep Russia Flows

November 17, 2022

The Shijiazhuang 180

The rocky start to Beijing’s 20 COVID policy tweaks announced on Friday continues. The latest: Hebei province’s capital, Shijiazhuang, which is battling a relatively large-scale COVID-19 outbreak, just did a (second) 180 with its testing scheme. ICYDK: One of the 20 tweaks calls for limiting mass te…

The rocky start to Beijing's 20 COVID policy tweaks announced on Friday continues.
The latest: Hebei province's capital, Shijiazhuang, which is battling a relatively large-scale COVID-19 outbreak, just did a (second) 180 with its testing scheme.
ICYDK: One of the 20 tweaks calls for limiting mass te...

sources

cls.cn: 天风实地调研：真实的石家庄，到底是什么样？

163.com: 石家庄疫情放开一天后恢复核酸检测，背后藏着啥隐情？

Sina: 石家庄市委书记张超超：市委、市政府进一步优化和调整疫情防控举措决不是“躺平”、放任不管也决不是所谓的“全面放开”

November 17, 2022

Public accounts need censorship, too

On Wednesday, China’s cybersecurity watchdog (CAC) released updated rules governing the censorship of online comments. These replace the original rules published back in 2017. The fundamental requirements of the rules are essentially the same: Real-name registration is required for users of onlin…

On Wednesday, China's cybersecurity watchdog (CAC) released updated rules governing the censorship of online comments.

These replace the original rules published back in 2017.

The fundamental requirements of the rules are essentially the same:

Real-name registration is required for users of onlin...

sources

CAC: 互联网跟帖评论服务管理规定

November 17, 2022

Sometimes, it’s the things you don’t say

China may have banned Canadian beef imports – but that doesn’t mean the two countries’ leaders don’t have beef. On Wednesday, an awkward scene between Xi Jinping and Canadian Prime Minister Justin Trudeau played out on camera at the G20 Summit in Bali, Indonesia. Some context: The pair had an inform…

China may have banned Canadian beef imports – but that doesn’t mean the two countries’ leaders don’t have beef.
On Wednesday, an awkward scene between Xi Jinping and Canadian Prime Minister Justin Trudeau played out on camera at the G20 Summit in Bali, Indonesia.
Some context: The pair had an inform...

sources

SCMP: Xi Jinping chides Canadian leader Justin Trudeau on G20 sidelines for ‘media leaks’ after meeting

November 17, 2022

UK blocks Welsh fab sale

On Wednesday, the UK government issued a decision blocking the sale of British chip fab Newport Wafer to Nexperia, a subsidiary of Hong Kong-based Wingtech Technology. It’s bad news for Nexperia: It will be forced to divest the company, as the purchase was completed last year. Some context: Newport …

On Wednesday, the UK government issued a decision blocking the sale of British chip fab Newport Wafer to Nexperia, a subsidiary of Hong Kong-based Wingtech Technology.
It’s bad news for Nexperia: It will be forced to divest the company, as the purchase was completed last year.
Some context: Newport ...

sources

FT: Newport Wafer Fab’s sale to Nexperia blocked by UK ministers

Gov.uk: NATIONAL SECURITY AND INVESTMENT ACT 2021 Publication of notice of Final Order

BBC: Chinese buyout of Newport microchip plant a 'security risk'

November 17, 2022

Aye, aye, CAPtain

China’s energy planning just got a whole lot smarter. On Wednesday, the macro planner (NDRC), the stats bureau (NBS), and the energy regulator (NEA) announced their long-awaited decision to amend the problematic energy consumption capping mechanism. Some context: Since 2017, Beijing has imposed…

China’s energy planning just got a whole lot smarter.
On Wednesday, the macro planner (NDRC), the stats bureau (NBS), and the energy regulator (NEA) announced their long-awaited decision to amend the problematic energy consumption capping mechanism.
Some context: Since 2017, Beijing has imposed...

sources

NDRC: 国家发展改革委国家统计局国家能源局关于进一步做好新增可再生能源消费不纳入能源消费总量控制有关工作的通知

November 17, 2022

High-speed gravy train

On Wednesday, Xi Jinping met Indonesia’s President Joko Widodo – Xi’s G20 host in Bali. ICYDK: Unlike Xi’s “long time no see” meetings with other G20 leaders, the pair have met recently, when Widodo visited Beijing in July. All aboard! The pair kicked things off with some trainspotting – watching a…

On Wednesday, Xi Jinping met Indonesia's President Joko Widodo – Xi's G20 host in Bali.
ICYDK: Unlike Xi's "long time no see" meetings with other G20 leaders, the pair have met recently, when Widodo visited Beijing in July.
All aboard! The pair kicked things off with some trainspotting – watching a...

sources

China Daily: Full text: Joint Statement between The People's Republic of China and The Republic of Indonesia

People's Daily: 习近平同印尼总统佐科举行会谈

November 17, 2022

BYD Semiconductor scraps IPO plan

On Tuesday, Chinese auto giant BYD scrapped its plan to list its chip arm, BYD Semiconductor, on Shenzhen’s tech-focused ChiNext exchange after trying for 18 months. The official reason: The company needs to focus more on expanding auto chip production. Why we don’t buy it: An IPO would …

On Tuesday, Chinese auto giant BYD scrapped its plan to list its chip arm, BYD Semiconductor, on Shenzhen’s tech-focused ChiNext exchange after trying for 18 months.
The official reason: The company needs to focus more on expanding auto chip production.
Why we don’t buy it: An IPO would ...

sources

Yicai: 比亚迪半导体终止注册，IPO冲刺为何“戛然而止”？

Caixin: 比亚迪半导体上市遭连番问询独立性成关注重点

November 17, 2022

Order in the meta-court!

On Wednesday, Guangzhou’s Metaverse Arbitration Court successfully resolved an NFT case. Some context: The court is China’s first dedicated entirely to the metaverse And in a fun twist, the arbitration hearing itself took place entirely in the metaverse. More context: The southeastern city of Xiam…

On Wednesday, Guangzhou's Metaverse Arbitration Court successfully resolved an NFT case.
Some context: The court is China's first dedicated entirely to the metaverse

And in a fun twist, the arbitration hearing itself took place entirely in the metaverse.

More context: The southeastern city of Xiam...

sources

Sina: 首宗元宇宙财产纠纷仲裁案五天调解结案广州仲裁委员会设元宇宙仲裁院办理涉虚拟世界案件

November 17, 2022

Just do it

On Monday, the central bank (PBoC) issued a notice encouraging banks to defer repayment of loans by micro and small firms due in Q4 of 2022. Notably, the notice was cosigned by five other regulators, including: The banking and insurance regulator (CBIRC) Ministry of Finance (MoF) Firms s…

On Monday, the central bank (PBoC) issued a notice encouraging banks to defer repayment of loans by micro and small firms due in Q4 of 2022.
Notably, the notice was cosigned by five other regulators, including:

The banking and insurance regulator (CBIRC)
Ministry of Finance (MoF)

Firms s...

sources

PBoC: 人民银行等六部门联合印发《关于进一步加大对小微企业贷款延期还本付息支持力度的通知》

November 17, 2022

Heard you right the second time

It’s time for another central bank (PBoC) listicle! On Wednesday, the PBoC published its Q3 monetary policy report in which – as per usual – it listed its policy intentions for the near future. Those intentions cover five pages. We’ve limited ourselves to the highlights. On inflation, the PBoC sai…

It’s time for another central bank (PBoC) listicle!
On Wednesday, the PBoC published its Q3 monetary policy report in which – as per usual – it listed its policy intentions for the near future.

Those intentions cover five pages. We’ve limited ourselves to the highlights.

On inflation, the PBoC sai...

sources

PBoC: 中国货币政策执行报告2022 年第三季度

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