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Macro

February 6, 2025

Foreign affairs ICYMI: Xi meets foreign leaders, EU goes after Shein and Temu, and more

US President Donald Trump’s tariffs on China and Beijing’s robust response have hogged the headlines in the past week, but there’s plenty more happening in the world of international relations. Here’s a smattering of the stuff that’s mattering: On Wednesday and Thursday, Xi Jinping met with a bevy o… Username Password Remember Me … Read More »

US President Donald Trump’s tariffs on China and Beijing’s robust response have hogged the headlines in the past week, but there’s plenty more happening in the world of international relations.
Here’s a smattering of the stuff that’s mattering:
On Wednesday and Thursday, Xi Jinping met with a bevy o...

sources

Xinhua: Xi holds talks with Kyrgyz president

Xinhua: Xi holds talks with Pakistani president

Xinhua: Xi holds talks with Brunei's Sultan

Xinhua: Xi meets Thai PM

Reuters: Temu, Shein targeted as EU cracks down on unsafe e-commerce imports

MoFA: China firmly opposes U.S. irresponsible remarks on Panama Canal issue: spokesperson

MoFA: China opposes forced displacement of people in Gaza: spokesperson

February 6, 2025

Will Apple be China’s next antitrust target?

A day after China’s antitrust regulator (SAMR) launched an investigation into Google, speculation is mounting that Apple could be next. Per Bloomberg: “[SAMR] is examining Apple’s policies, which include taking a cut of as much as 30% on in-app spending and barring external payment services and sto…

A day after China’s antitrust regulator (SAMR) launched an investigation into Google, speculation is mounting that Apple could be next.
Per Bloomberg:

“[SAMR] is examining Apple’s policies, which include taking a cut of as much as 30% on in-app spending and barring external payment services and sto...

sources

Bloomberg: China Weighs Probe Into Apple’s App Store Fees, Practices

February 6, 2025

DeepSeek kicks off AI industry earthquake

Last week, Chinese AI company DeepSeek caused an earthquake in the western tech world. What happened: DeepSeek released an open source-ish AI model, on par with models released by world leaders such as OpenAI, that can be trained and operated with significantly fewer chips. This has called the fund…

Last week, Chinese AI company DeepSeek caused an earthquake in the western tech world.
What happened: DeepSeek released an open source-ish AI model, on par with models released by world leaders such as OpenAI, that can be trained and operated with significantly fewer chips.

This has called the fund...

sources

People.cn: AI观察｜另辟蹊径的中国AI，在除夕前夜“爆火”

February 5, 2025

NBS PMI slips into contractionary territory

Manufacturing conditions deteriorated slightly in January. That’s per the PMI data released by the stats bureau (NBS) and Caixin on January 27 and February 3, respectively. A quick refresher: Headline PMI figures reflect overall manufacturing conditions, where readings above 50 signal improvement …

Manufacturing conditions deteriorated slightly in January.

That’s per the PMI data released by the stats bureau (NBS) and Caixin on January 27 and February 3, respectively.

A quick refresher: Headline PMI figures reflect overall manufacturing conditions, where readings above 50 signal improvement ...

sources

NBS: 2025年1月中国采购经理指数运行情况

Caixin: Caixin China General Manufacturing PMI Press Release

February 5, 2025

Home sales by top developers slip in January, due to seasonal factors

Headline home sales saw a modest dip in January, largely influenced by seasonal factors. According to January data from the China Real Estate Information Corp. (CRIC), an independent data provider: New home sales by China’s top 100 developers clocked in at RMB 227.61 billion last month, down 49.58%…

Headline home sales saw a modest dip in January, largely influenced by seasonal factors.
According to January data from the China Real Estate Information Corp. (CRIC), an independent data provider:

New home sales by China’s top 100 developers clocked in at RMB 227.61 billion last month, down 49.58%...

sources

CRIC: 2025年1月中国房地产企业销售TOP100排行榜

February 5, 2025

Trump tariffs, Beijing retaliates

On Saturday, US President Donald Trump issued an executive order (EO) imposing 10% tariffs on Chinese imports over Beijing’s alleged role in enabling the flow of fentanyl into the US. The EO also eliminated the de minimis exemption, which previously exempted imports worth less than USD 800 from cus…

On Saturday, US President Donald Trump issued an executive order (EO) imposing 10% tariffs on Chinese imports over Beijing's alleged role in enabling the flow of fentanyl into the US.

The EO also eliminated the de minimis exemption, which previously exempted imports worth less than USD 800 from cus...

sources

White House: Fact Sheet: President Donald J. Trump Imposes Tariffs on Imports from Canada, Mexico and China

Nikkei: China strikes back at U.S. as Trump tariff policy kicks in

Nikkei: Trump set to talk with Xi Jinping as China tariffs loom

February 5, 2025

Beijing ups the ante with broadest critical mineral export controls yet

Beijing has further expanded mineral export controls in retaliation against US tariffs. On Tuesday, the Ministry of Commerce (MofCom) added the following items to the country’s Dual-use Item Export Control List: Tungsten (including tungsten oxide, tungsten carbide, and myriad solid tungsten product…

Beijing has further expanded mineral export controls in retaliation against US tariffs.
On Tuesday, the Ministry of Commerce (MofCom) added the following items to the country's Dual-use Item Export Control List:

Tungsten (including tungsten oxide, tungsten carbide, and myriad solid tungsten product...

sources

MofCom: 商务部海关总署公告2025年第10号公布对钨、碲、铋、钼、铟相关物项实施出口管制的决定

February 5, 2025

China goes after Google with antitrust probe

Beijing just hit another US tech giant with an antitrust probe. On Tuesday, the market regulator (SAMR) announced it has launched an antitrust investigation into Google. The brief notice on SAMR’s website offered no further details. ICYMI: In December, SAMR also launched an antitrust probe into Nv…

Beijing just hit another US tech giant with an antitrust probe.
On Tuesday, the market regulator (SAMR) announced it has launched an antitrust investigation into Google.

The brief notice on SAMR's website offered no further details.

ICYMI: In December, SAMR also launched an antitrust probe into Nv...

sources

SAMR: 谷歌公司涉嫌违反反垄断法市场监管总局依法决定立案调查

Caixin: 国家市监总局对谷歌反垄断调查谷歌还有什么业务在中国？

FT: China targets Google, Nvidia and Intel as Donald Trump’s tariffs bite

Reuters: Exclusive: China preparing an antitrust investigation into Google - sources

February 5, 2025

China’s commerce ministry adds PVH Group, Illumina to Unreliable Entity List

Beijing has used its unreliable entity list (UEL) to target companies with commercial operations in China for the first time. As part of a package of retaliatory moves against the US announced Tuesday, the commerce ministry (MofCom) added two US companies to the UEL: Clothing giant PVH Group, the p…

Beijing has used its unreliable entity list (UEL) to target companies with commercial operations in China for the first time.
As part of a package of retaliatory moves against the US announced Tuesday, the commerce ministry (MofCom) added two US companies to the UEL:

Clothing giant PVH Group, the p...

sources

MofCom: 商务部新闻发言人就将两家美国企业列入不可靠实体清单答记者问

Reuters: Illumina, PVH shares drop as China threatens companies with sanctions

Bloomberg: China Targets PVH Corp. in Retaliation Against US Tariffs

February 5, 2025

Welcome to Trade War 2.0

Here’s a friendly piece of advice courtesy of the Trivium team: Never take a vacation. Over the Spring Festival holiday, the Trump administration announced major new trade actions against China. This prompted a retaliatory salvo from the Chinese side spanning: Counter tariffs Export restrictions …

Here’s a friendly piece of advice courtesy of the Trivium team:

Never take a vacation.

Over the Spring Festival holiday, the Trump administration announced major new trade actions against China.
This prompted a retaliatory salvo from the Chinese side spanning:

Counter tariffs
Export restrictions ...

January 28, 2025

Property roundup: Homebuyer sentiment improves, but financing challenges still loom

To view the roundup as a pdf, click here. The rundown The housing market ended 2024 on an encouraging note. According to the National Bureau of Statistics’ (NBS) latest property transaction data: Home sales by floor space rose 4.4 y/y in December, the second consecutive month of gains after Novembe…

To view the roundup as a pdf, click here.
The rundown
The housing market ended 2024 on an encouraging note.
According to the National Bureau of Statistics’ (NBS) latest property transaction data:

Home sales by floor space rose 4.4 y/y in December, the second consecutive month of gains after Novembe...

January 24, 2025

Insurers to ramp up A-share investments

Large state-owned insurance companies will be guided to invest 30% of new premiums into A-shares. This disclosure was made on Thursday by the chairman of the securities regulator (CSRC), Wu Qing, who said the move will result in: “At least hundreds of billions of long-term funds being added to A-sh…

Large state-owned insurance companies will be guided to invest 30% of new premiums into A-shares.
This disclosure was made on Thursday by the chairman of the securities regulator (CSRC), Wu Qing, who said the move will result in:

“At least hundreds of billions of long-term funds being added to A-sh...

sources

SCIO: 国新办举行新闻发布会介绍大力推动中长期资金入市，促进资本市场高质量发展有关情况图文实录

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