string(13) "markets-macro"

Macro

January 24, 2025

Property “whitelist” loans exceed RMB 5.6 trillion

Commercial banks are pumping cash into the property sector – at least on paper. At Thursday’s State Council press conference, deputy director of the financial regulator (NFRA), Xiao Yuanqi, said loan approvals for property developments whitelisted by authorities have exceeded RMB 5.6 trillion. This… Username Password Remember Me Forgot Password

Commercial banks are pumping cash into the property sector – at least on paper.
At Thursday’s State Council press conference, deputy director of the financial regulator (NFRA), Xiao Yuanqi, said loan approvals for property developments whitelisted by authorities have exceeded RMB 5.6 trillion.

This...

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

NBS: 2024年全国房地产市场基本情况

January 24, 2025

Brazil confirms China is blocking soybeans from five major exporters

This could be spicy. On Thursday, Brazil’s agriculture ministry announced that China has been blocking imports from five major Brazilian soybean exporters in recent days, in response to a scoop from Reuters. Cargoes from Terra Roxa Comercio de Cereais, Olam Brasil, and C.Vale Cooperativa Agroindust…

This could be spicy.
On Thursday, Brazil's agriculture ministry announced that China has been blocking imports from five major Brazilian soybean exporters in recent days, in response to a scoop from Reuters.

Cargoes from Terra Roxa Comercio de Cereais, Olam Brasil, and C.Vale Cooperativa Agroindust...

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Reuters: Brazil says soy shipments to China from five firms halted due to contamination

January 24, 2025

The TikTok sharks are circling

A TikTok deal is looking more and more likely. On Wednesday, General Atlantic CEO Bill Ford – a major ByteDance investor – told reporters at Davos that a TikTok deal would happen. He noted that discussions might start as soon as next week with ByteDance, the Chinese government, the US government, …

A TikTok deal is looking more and more likely.
On Wednesday, General Atlantic CEO Bill Ford – a major ByteDance investor – told reporters at Davos that a TikTok deal would happen.

He noted that discussions might start as soon as next week with ByteDance, the Chinese government, the US government, ...

sources

Axios: ByteDance director says TikTok deal will get done

January 24, 2025

ByteDance’s AI capex plan

Just how dependent are Chinese AI companies on foreign chips? ByteDance plans to spend USD 12 billion on AI infrastructure in 2025, per an FT report released on Wednesday. 27% of that USD 12 billion – or USD 3.3 billion – will be used to purchase Chinese AI chips made by Huawei or Cambricon. The …

Just how dependent are Chinese AI companies on foreign chips?
ByteDance plans to spend USD 12 billion on AI infrastructure in 2025, per an FT report released on Wednesday.

27% of that USD 12 billion – or USD 3.3 billion – will be used to purchase Chinese AI chips made by Huawei or Cambricon.
The ...

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FT: TikTok owner ByteDance plans to spend $12bn on AI chips in 2025

Reuters: Microsoft plans to invest $80 billion on AI-enabled data centers in fiscal 2025

January 23, 2025

VDL calls for reciprocity in trade with China

The EU wants to even the playing field with China. On Tuesday, European Commission President Ursula von der Leyen (VDL) spoke at the World Economic Forum’s annual meeting in Davos, Switzerland. VDL outlined her view on the EU’s relationship with China and defended Brussels’ response to “state-sponso…

The EU wants to even the playing field with China.
On Tuesday, European Commission President Ursula von der Leyen (VDL) spoke at the World Economic Forum’s annual meeting in Davos, Switzerland.
VDL outlined her view on the EU’s relationship with China and defended Brussels’ response to “state-sponso...

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weforum.org: Davos 2025: Special Address by Ursula von der Leyen, President of the European Commission

January 23, 2025

New rural revitalization plan targets major progress on rural reform by 2027

On Wednesday, the Party Central Committee and State Council unexpectedly issued a Comprehensive Rural Revitalization Plan (2024-2027). The plan has been quietly circulating among local governments since November (Zhejiang Gov). Some context: Xi Jinping introduced his rural revitalization stra…

On Wednesday, the Party Central Committee and State Council unexpectedly issued a Comprehensive Rural Revitalization Plan (2024-2027).

The plan has been quietly circulating among local governments since November (Zhejiang Gov).

Some context: Xi Jinping introduced his rural revitalization stra...

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Gov.cn: 绘就乡村全面振兴新画卷——专家解读《乡村全面振兴规划（2024－2027年）》

Gov.cn: 中共中央国务院印发《乡村全面振兴规划（2024—2027年）》

Zhejiang Gov: 《2024年度省发展改革委重大行政决策事项目录》调整情况表

January 23, 2025

Ding Xuexiang reiterates China’s AI positions at Davos

On Tuesday, Executive Vice Premier Ding Xuexiang outlined China’s approach to AI development at the World Economic Forum in Davos. Ding’s key point: China’s approach to AI development is different from the US approach in three key respects. First, China rejects the notion that any country should b…

On Tuesday, Executive Vice Premier Ding Xuexiang outlined China's approach to AI development at the World Economic Forum in Davos.
Ding's key point: China's approach to AI development is different from the US approach in three key respects.
First, China rejects the notion that any country should b...

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People.cn: 丁薛祥谈促进人工智能等科技创新更好造福全人类

MoFA: Ding Xuexiang on Enabling AI and Other Scientific and Technological Innovation to Better Serve the Well-being of All Humanity

January 23, 2025

CATL well positioned for Hong Kong listing to fund overseas push

Chinese battery giant CATL is preparing to raise new capital via a secondary listing on the Hong Kong Stock Exchange (HKEX). The listing, which could raise up to USD 7.7 billion, will support the company’s international expansion efforts. On Tuesday, the FT reported that Chinese banks are pitching…

Chinese battery giant CATL is preparing to raise new capital via a secondary listing on the Hong Kong Stock Exchange (HKEX).

The listing, which could raise up to USD 7.7 billion, will support the company's international expansion efforts.

On Tuesday, the FT reported that Chinese banks are pitching...

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FT: Banks compete for Hong Kong’s blockbuster listing with 0.01% fees

January 23, 2025

Sunac gets creditor approval to restructure onshore debt

In a landmark move, property giant Sunac has secured a deal to finish restructuring the entirety of its onshore debt. In an exchange filing Wednesday, the privately-owned developer said creditors have agreed to a proposal to reduce its RMB 15.4 billion in ten onshore bonds by half (HKEX). Bondholder…

In a landmark move, property giant Sunac has secured a deal to finish restructuring the entirety of its onshore debt.
In an exchange filing Wednesday, the privately-owned developer said creditors have agreed to a proposal to reduce its RMB 15.4 billion in ten onshore bonds by half (HKEX).
Bondholder...

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HKEX: ONSHORE DEBT RESTRUCTURING PLAN APPROVED BY RELEVANT CREDITORS

Caixin: 融创154亿元境内债完成二次重组削债比例或超50%

The Paper: 融创集团154亿元境内债全部完成二次重组

Reuters: Sunac China lands first onshore debt reduction in troubled property sector

January 23, 2025

Provinces lower inflation targets for 2025

Almost all of China’s provinces have set lower inflation targets for 2025. Of China’s 31 provincial-level governments, 27 set a consumer price index (CPI) growth target of 2% for this year, well below the 2024 national target of 3% (SCMP). The exceptions were: Tibet, which set a 3% target Shandong,…

Almost all of China’s provinces have set lower inflation targets for 2025.
Of China’s 31 provincial-level governments, 27 set a consumer price index (CPI) growth target of 2% for this year, well below the 2024 national target of 3% (SCMP).
The exceptions were:

Tibet, which set a 3% target
Shandong,...

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SCMP: Deflation risks see most Chinese provinces shy away from ‘legacy’ 3% CPI target

Caixin: China’s Provinces Set Realistic Inflation Goals as Consumer Demand Remains Weak

January 23, 2025

In it for the long term

China’s authorities want to see more funds take a long-term view toward investing in domestic stock markets. On Wednesday, the Central Financial Commission (CFC) – China’s most powerful financial regulator – along with four other financial regulators jointly published a plan to: “Stabilize the stoc…

China’s authorities want to see more funds take a long-term view toward investing in domestic stock markets.
On Wednesday, the Central Financial Commission (CFC) – China’s most powerful financial regulator – along with four other financial regulators jointly published a plan to:

"Stabilize the stoc...

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PBoC: 中央金融办中国证监会财政部人力资源社会保障部中国人民银行金融监管总局联合印发《关于推动中长期资金入市工作的实施方案》

January 23, 2025

Government to control the price of state-owned data

State-owned data needs to be both accessible and affordable. On Monday, the macro planner (NDRC) and data administration (NDA) unveiled a new national framework for making “public data” resources available on the market. ICYDK: Public data is data generated by government departments and institutions…

State-owned data needs to be both accessible and affordable.
On Monday, the macro planner (NDRC) and data administration (NDA) unveiled a new national framework for making “public data” resources available on the market.
ICYDK: Public data is data generated by government departments and institutions...

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NDRC: 关于印发《公共数据资源授权运营实施规范（试行）》的通知(发改数据规〔2025〕27号)

NDRC: 国家发展改革委国家数据局关于印发《公共数据资源登记管理暂行办法》的通知

NDRC: 关于建立公共数据资源授权运营价格形成机制的通知

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