string(13) "markets-macro"

Macro

October 27, 2022

SK Hynix uncertain about its China factories

On Wednesday, South Korean memory giant SK Hynix wondered out loud whether or not its China-based fabs would survive the latest US export controls. Some context: The export controls don’t just restrict Chinese chipmakers from getting necessary US equipment to produce advanced chips, they also block … Username Password Remember Me Forgot Password

On Wednesday, South Korean memory giant SK Hynix wondered out loud whether or not its China-based fabs would survive the latest US export controls.
Some context: The export controls don’t just restrict Chinese chipmakers from getting necessary US equipment to produce advanced chips, they also block ...

sources

Nikkei: SK Hynix weighs future of China chip plant after U.S. tech curbs

October 27, 2022

Manufacturing to FDI for

Foreign investors may not be too excited about China’s new top leadership… …but China’s new top leadership sure is excited about foreign investors. On Tuesday, the macro planner (NDRC) – along with five other ministries – issued a plan to promote foreign investment in manufacturing. This i…

Foreign investors may not be too excited about China’s new top leadership...

…but China’s new top leadership sure is excited about foreign investors.

On Tuesday, the macro planner (NDRC) – along with five other ministries – issued a plan to promote foreign investment in manufacturing.

This i...

sources

NDRC: 国家发展改革委等部门印发《关于以制造业为重点促进外资扩增量稳存量提质量的若干政策措施》的通知

October 27, 2022

Are hard drives really sensitive tech?

On Wednesday, Reuters reported that the US government has warned US hard drive manufacturer Seagate it may have violated export control laws by selling its products to Huawei a year ago without approval. Seagate is potentially facing prosecution and a fine. Hold onto your pants, because this gets …

Seagate is potentially facing prosecution and a fine.

Hold onto your pants, because this gets ...

sources

Reuters: Exclusive: U.S. alleges Seagate broke export rules to sell Huawei hard drives, person familiar says

US Department of Commerce: Foreign-Produced Direct Product (FDP) Rule as it Relates to the Entity List

October 27, 2022

Robbing Peter to pay Peter

Municipal state-owned enterprises (SOEs) and investment vehicles just won’t quit the land game – despite Beijing’s warnings. Some context: China’s housing market struggles have diminished developers’ desire to acquire new plots of land from local governments. That’s bad news for said governments, a…

Municipal state-owned enterprises (SOEs) and investment vehicles just won’t quit the land game – despite Beijing’s warnings.
Some context: China's housing market struggles have diminished developers’ desire to acquire new plots of land from local governments.

That’s bad news for said governments, a...

sources

Cailianshe: 财政部规范国企拿地政策满月地方城投仍在土地市场“狂奔”

October 26, 2022

Zhao for law!

The dust has settled on the race to head China’s all-action national legislature (NPC). Last week, the money was on Wang Huning to win. But former anti-graft czar Zhao Leji pipped him at the post. Zhao, 65, is now the Party’s 3rd ranked leader, which means he’s expected to replace Li Zhanshu as Ch…

The dust has settled on the race to head China's all-action national legislature (NPC).
Last week, the money was on Wang Huning to win.
But former anti-graft czar Zhao Leji pipped him at the post.

Zhao, 65, is now the Party's 3rd ranked leader, which means he's expected to replace Li Zhanshu as Ch...

October 26, 2022

L’État, c’est Xi

Kids, wake up! You’ll be late for your first day of Politburo! On Tuesday, Xi Jinping presided over the first meeting of the Party’s freshly minted, 24-man 20th Politburo. Though the Party Congress is now over, Xi urged the assembled, in no uncertain terms, to keep its spirit in their hearts and min…

Kids, wake up! You’ll be late for your first day of Politburo!
On Tuesday, Xi Jinping presided over the first meeting of the Party's freshly minted, 24-man 20th Politburo.
Though the Party Congress is now over, Xi urged the assembled, in no uncertain terms, to keep its spirit in their hearts and min...

sources

People's Daily: 中共中央政治局召开会议研究部署学习宣传贯彻党的二十大精神

Xinhua: CPC leadership makes arrangements for implementing Party congress guiding principles

October 26, 2022

Infrastructure stimulus comes good

China’s stats bureau (NBS) published the monthly econ data for September on Monday. The headlines: Retail sales increased 2.5% y/y in September, down from a 5.4% y/y increase in August. Fixed-asset investment (FAI) rose 6.6% y/y in September, compared with 6.5% y/y growth in August. Value-added out…

China’s stats bureau (NBS) published the monthly econ data for September on Monday.
The headlines:

Retail sales increased 2.5% y/y in September, down from a 5.4% y/y increase in August.
Fixed-asset investment (FAI) rose 6.6% y/y in September, compared with 6.5% y/y growth in August.
Value-added out...

sources

NBS: 2022年9月份社会消费品零售总额增长2.5%

NBS: 2022年1—9月份全国固定资产投资（不含农户）

October 26, 2022

Looking out for the little guy

On Tuesday, the State Council announced that Premier Li Keqiang recently signed off on regulations to promote the development of individual industrial and commercial households (Gov.cn 1). The new measures kick in on November 1 this year. (Yup, Li’s still doing state business – he’ll stay on as pre…

On Tuesday, the State Council announced that Premier Li Keqiang recently signed off on regulations to promote the development of individual industrial and commercial households (Gov.cn 1).

The new measures kick in on November 1 this year.
(Yup, Li's still doing state business – he'll stay on as pre...

sources

Gov.cn: 李克强签署国务院令公布促进个体工商户发展条例

Gov.cn: 促进个体工商户发展条例

NBS: Purchasing Managers Index for September 2022

October 26, 2022

Naura talks to US officials

On Tuesday, SCMP reported that China’s top semiconductor equipment maker Naura may be looking to comply with the latest US export controls. Some context: A couple of weeks ago, one of Naura’s subsidiaries was added to the so-called Unverified List. Companies on the Unverified List will get ad…

On Tuesday, SCMP reported that China’s top semiconductor equipment maker Naura may be looking to comply with the latest US export controls.
Some context: A couple of weeks ago, one of Naura's subsidiaries was added to the so-called Unverified List.

Companies on the Unverified List will get ad...

sources

SCMP: Exclusive | Tech war: US officials said to start talks with Chinese chip equipment maker Naura Technology Group over new export restrictions

October 26, 2022

Manufacturing to FDI

Foreign investors may not be too excited about China’s new top leadership… …but China’s top leadership sure is excited about foreign investors. On Tuesday, the macro planner (NDRC) and five other ministries issued a plan to promote foreign investment in manufacturing. This is the first major …

Foreign investors may not be too excited about China’s new top leadership...

...but China’s top leadership sure is excited about foreign investors.

On Tuesday, the macro planner (NDRC) and five other ministries issued a plan to promote foreign investment in manufacturing.

This is the first major ...

sources

NDRC: 国家发展改革委等部门印发《关于以制造业为重点促进外资扩增量稳存量提质量的若干政策措施》的通知

October 26, 2022

SAMR to add more headcount

On Tuesday, China’s market regulator (SAMR) announced that it’s looking to add more headcount to its antitrust team. Some context: The antitrust bureau has been short on manpower for years – major impediment to anti-monopoly enforcement. Though not publicly disclosed, we estimate the bu…

On Tuesday, China’s market regulator (SAMR) announced that it’s looking to add more headcount to its antitrust team.
Some context: The antitrust bureau has been short on manpower for years - major impediment to anti-monopoly enforcement.

Though not publicly disclosed, we estimate the bu...

sources

SAMR: 国家市场监督管理总局公务员录用职位公告

October 26, 2022

The tech factor

Yesterday, the Ministry of Science and Technology (MoST) announced a 14th Five-Year Plan (FYP) to develop the “Technology Factor Market.” The what market, you ask? The “technology factor market” is the channel through which technology reaches businesses, so that it can be used to produce goods and s…

Yesterday, the Ministry of Science and Technology (MoST) announced a 14th Five-Year Plan (FYP) to develop the “Technology Factor Market."
The what market, you ask? The "technology factor market" is the channel through which technology reaches businesses, so that it can be used to produce goods and s...

sources

Ministry of Science and Technology: 科技部关于印发《“十四五”技术要素市场专项规划》的通知

CE.cn: 科技部印发《“十四五”技术要素市场专项规划》

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