string(13) "markets-macro"

Macro

November 11, 2022

Faux pas(licy)

On Thursday, an industry alliance – the Industrial Metaverse Coordinated Development Organization – released a three-year action plan to develop the industrial metaverse. This alliance, established in October, is affiliated with the industrial ministry (MIIT). An MIIT official chaired the alliance’… Username Password Remember Me Forgot Password

On Thursday, an industry alliance – the Industrial Metaverse Coordinated Development Organization – released a three-year action plan to develop the industrial metaverse.

This alliance, established in October, is affiliated with the industrial ministry (MIIT).
An MIIT official chaired the alliance’...

sources

Sohu: 工信部发布工业元宇宙三年计划，成立工业元宇宙协同发展组织

November 11, 2022

The other ubiquitous health codes

On Monday, the National Health Commission (NHC) published its 14th Five-Year Plan to digitize healthcare delivery. The big goal: By 2025, NHC aims to finish building out a comprehensive, unified national healthcare information system. That includes: Connecting all public medical institutions on a s…

On Monday, the National Health Commission (NHC) published its 14th Five-Year Plan to digitize healthcare delivery.
The big goal: By 2025, NHC aims to finish building out a comprehensive, unified national healthcare information system. That includes:

Connecting all public medical institutions on a s...

sources

NHC: “十四五”全民健康信息化规划

Caixin: 电子健康码非防疫健康码 “十四五”健康信息化规划展望两码前景

November 11, 2022

Getting the MoST out of hi-tech industrial parks

On Wednesday, the Ministry of Science and Technology (MoST) released its 14th Five-Year Plan for China’s high-tech industrial parks. The numbers: To date, MoST has established 169 national-level industrial high-tech business parks to drive tech innovation and employment. Under the new plan, MoST bot…

On Wednesday, the Ministry of Science and Technology (MoST) released its 14th Five-Year Plan for China's high-tech industrial parks.
The numbers: To date, MoST has established 169 national-level industrial high-tech business parks to drive tech innovation and employment.
Under the new plan, MoST bot...

sources

Ministry of Science and Technology: 科技部关于印发《“十四五”国家高新技术产业开发区发展规划》的通知

November 11, 2022

Germany blocks another chip deal

On Wednesday, FT reported that Germany has blocked another Chinese acquisition of a German semiconductor company. Background: Yesterday, we flagged that Germany’s Economic Ministry is looking to kill Chinese-owned Silex Microsystems’ takeover of Dortmund-based Elmos’ chip plant. This is despite C…

On Wednesday, FT reported that Germany has blocked another Chinese acquisition of a German semiconductor company.
Background: Yesterday, we flagged that Germany’s Economic Ministry is looking to kill Chinese-owned Silex Microsystems’ takeover of Dortmund-based Elmos’ chip plant.

This is despite C...

sources

FT: Germany blocks another Chinese acquisition of a chip company

CNA: 談環球晶併世創失敗徐秀蘭：地緣政治與產業綁一起

November 11, 2022

Prepping for insurer bailouts

It always pays to be prepared for the worst. And that’s exactly what the banking regulator (CBIRC) is doing. On Thursday, it issued updated rules for state-run bailout funds that rescue troubled insurers – which take effect December 12. The new rules set out a bigger role for the bailout funds, and …

It always pays to be prepared for the worst.
And that's exactly what the banking regulator (CBIRC) is doing. On Thursday, it issued updated rules for state-run bailout funds that rescue troubled insurers – which take effect December 12.
The new rules set out a bigger role for the bailout funds, and ...

sources

CBIRC: 中国银保监会发布《保险保障基金管理办法》

CBIRC: 中国银保监会有关部门负责人就《保险保障基金管理办法》答记者问

Reuters: China amends rules for management of insurance bailout funds

Caixin Global: China revises rules to boost contributions to state insurance bailout fund

November 11, 2022

Semiconductor schadenfreude (Part Zwei!)

Two weeks ago, the sale of a Dortmund fab by German chipmaker Elmos to Chinese firm Sai Microelectronics looked like a done deal. But in an 11th-hour twist, Germany’s Economic Ministry will now recommend killing the proposed acquisition. Background: The Dortmund fab uses decades-old technology to …

Two weeks ago, the sale of a Dortmund fab by German chipmaker Elmos to Chinese firm Sai Microelectronics looked like a done deal.

But in an 11th-hour twist, Germany's Economic Ministry will now recommend killing the proposed acquisition.

Background: The Dortmund fab uses decades-old technology to ...

sources

Handelsblatt: Habeck will chinesische Übernahme von Dortmunder Chipfabrik stoppen

Bloomberg: Germany Poised to Block Chip Facility Sale to Chinese Owner

Elmos: Ad hoc: Verkauf der Elmos Waferfertigung an Silex wird wahrscheinlich untersagt werden

November 11, 2022

Made in China, made better!

On Thursday, the State Administration for Market Regulation (SAMR) and 18 other ministries issued new plans to “improve the quality of products, engineering and services.” The crux of the plan focuses on building newer, safer and higher-quality products. The plan calls to develop new technologies t…

On Thursday, the State Administration for Market Regulation (SAMR) and 18 other ministries issued new plans to "improve the quality of products, engineering and services."

The crux of the plan focuses on building newer, safer and higher-quality products.
The plan calls to develop new technologies t...

sources

SAMR: 进一步提高产品、工程和服务质量行动方案（2022—2025年）

People's Daily: 十八部门联合发文：进一步提高产品、工程和服务质量

November 11, 2022

Bringing down the house(‘s emissions)

China has just released its carbon peaking roadmap for the building materials industry. This is a major component of China’s overarching “1+N” climate policy architecture – i.e., this is about as official as an industry policy gets. A quick recap: The “1” is a plan enshrining China’s goals to peak…

China has just released its carbon peaking roadmap for the building materials industry.
This is a major component of China's overarching "1+N" climate policy architecture – i.e., this is about as official as an industry policy gets.
A quick recap: The "1" is a plan enshrining China's goals to peak...

sources

Caixin: 建材行业碳达峰方案公布或加速行业优胜劣汰

November 11, 2022

Zhao Lijian pushes all his chips in the middle

At a press conference Thursday, domestic media casually asked Ministry of Foreign Affairs spokesperson Zhao Lijian why so many semiconductor companies attended this week’s China International Import Expo in Shanghai. The question was an intentional softball. ASML, which the US is heavily lobbyi…

At a press conference Thursday, domestic media casually asked Ministry of Foreign Affairs spokesperson Zhao Lijian why so many semiconductor companies attended this week's China International Import Expo in Shanghai.
The question was an intentional softball. ASML, which the US is heavily lobbyi...

sources

MoFA: Foreign Ministry Spokesperson Zhao Lijian’s Regular Press Conference on November 10, 2022

Sina: 外交部：跨国大型半导体企业参展进博会，表明他们看好中国潜力

November 11, 2022

Quick Take | Trimming the excess: How to think about China’s Covid policy tweaks

China’s Covid-19 containment framework appears to be in flux, and China-linked markets are soaring on Friday’s announced adjustments to the policy by the National Health Commission (NHC). Thursday’s meeting of the Politburo Standing Committee approved the measures, which were released almost immed…

China’s Covid-19 containment framework appears to be in flux, and China-linked markets are soaring on Friday’s announced adjustments to the policy by the National Health Commission (NHC).

Thursday’s meeting of the Politburo Standing Committee approved the measures, which were released almost immed...

November 11, 2022

It’s too early to go all in on the metaverse

Yesterday, we posited that the national government hasn’t yet released a metaverse development plan because the technology is still way too speculative. Yeah, sounds like that’s about right. On Wednesday, Economic Daily – the official newspaper of the State Council – published an article telling …

Yesterday, we posited that the national government hasn't yet released a metaverse development plan because the technology is still way too speculative.

Yeah, sounds like that's about right.

On Wednesday, Economic Daily - the official newspaper of the State Council - published an article telling ...

sources

Economic Daily: 布局元宇宙产业需审慎

SCMP: Chinese state newspaper warns of metaverse ‘fever’ after Meta announces major job cuts

November 11, 2022

Interest-ing times for local bonds

A new era is approaching for China’s RMB 34 trillion local government bond market. Later this month, Guangdong will become the first province to issue debt using the finance ministry’s (MoF) local government bond yield curve as a benchmark. Why that’s new: Historically, local governments have priced…

A new era is approaching for China’s RMB 34 trillion local government bond market.
Later this month, Guangdong will become the first province to issue debt using the finance ministry's (MoF) local government bond yield curve as a benchmark.
Why that’s new: Historically, local governments have priced...

sources

Guangdong Gov: 广东省财政厅关于2022年广东省地方政府再融资专项债券（八期）发行有关事宜的通知

Sohu: 观债｜地方债发行利率“变轨”，广东试水参考地方债收益率曲线

MoF: 关于进一步做好地方政府债券发行工作的意见

Bloomberg: China Province Tests Novel Way of Pricing Local Government Debt

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