string(13) "markets-macro"

Macro

September 5, 2022

Come on in

Financial opening is here to stay. So said Fang Xinghai, vice chair of the securities regulator (CSRC), in a speech on the topic at the annual China International Finance Forum on Friday. Ever the optimist, Fang pledged that (CSRC): “No matter what global changes happen…China will expand high-leve… Username Password Remember Me Forgot… Read More »

“No matter what global changes happen…China will expand high-leve...

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CSRC: 坚定不移推进资本市场双向开放助力构建新发展格局——方星海副主席在2022年服贸会中国国际金融年度论坛上的致辞

September 3, 2022

Quick take | August Politburo meeting sets date for 20th Party Congress

Ain’t no congress like a Party Congress, cuz a Party Congress don’t stop. On Tuesday, the Politburo held its monthly meeting and finally set a date for the 20th Party Congress. The fun will get started on October 16. On that day, Xi Jinping will address the assembled delegates to give a report on …

Ain’t no congress like a Party Congress, cuz a Party Congress don’t stop.
On Tuesday, the Politburo held its monthly meeting and finally set a date for the 20th Party Congress.

The fun will get started on October 16.

On that day, Xi Jinping will address the assembled delegates to give a report on ...

sources

Xinhua: 中共中央政治局会议建议中国共产党第二十次全国代表大会10月16日在北京召开中共中央总书记习近平主持会议

September 2, 2022

Another megacity (lock)down

On Thursday, Sichuan’s capital Chengdu announced that the city, with 21 million residents, will go into lockdown until Sunday to slow its COVID outbreak. Around 70% of flights to and from Chengdu were quickly cancelled (Jiemian). Residents must stay at home, with one person per household allowed ou…

On Thursday, Sichuan’s capital Chengdu announced that the city, with 21 million residents, will go into lockdown until Sunday to slow its COVID outbreak.

Around 70% of flights to and from Chengdu were quickly cancelled (Jiemian).
Residents must stay at home, with one person per household allowed ou...

sources

Jiemian: 成都双流机场、天府机场航班取消率70%左右

Gov.cn: 成都“8·25”疫情共报告本土感染者766例；成都疫情传入链条超过20条

Gov.cn: 2021 年成都市国民经济和社会发展统计公报

September 2, 2022

China at your service

On Thursday, the China International Fair for Trade in Services (CIFTIS) kicked off in Beijing. Some context: Held annually since 2012, and hosted jointly by the Ministry of Commerce and the Beijing municipal government, the fair looks to bolster (you guessed it!) China’s trade in services. More con…

On Thursday, the China International Fair for Trade in Services (CIFTIS) kicked off in Beijing.
Some context: Held annually since 2012, and hosted jointly by the Ministry of Commerce and the Beijing municipal government, the fair looks to bolster (you guessed it!) China’s trade in services.
More con...

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CIFTIS: Xi sends congratulatory letter to China int'l services trade fair

Xinhua: Xinhua Headlines: China committed to wider opening-up in services trade, promoting global economic recovery

September 2, 2022

The answers are all out there

We just need to ask the right questions. On Wednesday, the Ministry of Science and Technology (MoST) announced stats for R&D expenditure in 2021. Background: A key issue in China’s 14th Five-Year Plan (2021-25) is expanding foundational (basic) research versus applied and experimental research. …

We just need to ask the right questions.
On Wednesday, the Ministry of Science and Technology (MoST) announced stats for R&D expenditure in 2021.
Background: A key issue in China's 14th Five-Year Plan (2021-25) is expanding foundational (basic) research versus applied and experimental research.
...

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Gov.cn: 2021年全国科技经费投入统计公报

September 2, 2022

Future top judge no fan of judicial independence

On Thursday, we told you about reports that Xi’s ally Ying Yong is set to take over as the country’s procurator-general. Those reports look to be correct after it was confirmed today that Ying is now serving as deputy procurator-general (Sina). Ying is likely to take over as procurator-general in Ma…

On Thursday, we told you about reports that Xi’s ally Ying Yong is set to take over as the country’s procurator-general.
Those reports look to be correct after it was confirmed today that Ying is now serving as deputy procurator-general (Sina).
Ying is likely to take over as procurator-general in Ma...

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Sina: 赴京工作4个月后，应勇任最高人民检察院副检察长

SCMP: Official who led Wuhan pandemic response set to be China’s next top prosecutor, sources say

September 2, 2022

A ferty mess

On Wednesday, the macro planner (NDRC) and the finance ministry published an updated set of Commercial Fertilizer Reserve Management Measures, effective the following day. The big takeaway: The reserve system is in for a LOT of use in coming years. ICYDK: Global fertilizer markets are a mess right …

On Wednesday, the macro planner (NDRC) and the finance ministry published an updated set of Commercial Fertilizer Reserve Management Measures, effective the following day.
The big takeaway: The reserve system is in for a LOT of use in coming years.
ICYDK: Global fertilizer markets are a mess right ...

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NDRC: 国家发展改革委财政部关于修订印发《国家化肥商业储备管理办法》的通知

Reuters: (July) China issues phosphate quotas to rein in fertiliser exports - analysts

September 2, 2022

On the verge of despair

Land sales income and tax revenues have fallen, forcing China’s local governments to find other ways to make up the shortfall in fiscal revenue. What’ve they come up with so far? Selling off idle state assets and mining rights (Caixin). Some context (MoF): From January to July, general …

Land sales income and tax revenues have fallen, forcing China’s local governments to find other ways to make up the shortfall in fiscal revenue.
What’ve they come up with so far?

Selling off idle state assets and mining rights (Caixin).

Some context (MoF):

From January to July, general ...

sources

Caixin: 财政收支压力大多地处置闲置房产、转让矿业权

MoF: 2022年7月财政收支情况

September 2, 2022

Saved by the weather

Xietian, xiedi. Rains have fallen, temperatures too, and Sichuan’s power crisis is over (for now). On Tuesday, Sichuan’s provincial grid operator announced the end of all power rationing measures imposed on commercial and industrial power users (Sichuan Online). ICYMI: In mid-August, Sichuan began r…

Xietian, xiedi.
Rains have fallen, temperatures too, and Sichuan's power crisis is over (for now).
On Tuesday, Sichuan’s provincial grid operator announced the end of all power rationing measures imposed on commercial and industrial power users (Sichuan Online).
ICYMI: In mid-August, Sichuan began r...

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Sichuan Online: 四川恢复全部大工业和一般工商业用电

The Paper: 国家电网与四川省举行会谈：加快推进外电入川，优化电源结构

September 2, 2022

M Night Shyamalan presents: The (Digital) Village

On Friday, five ministries, led by China’s cybersecurity watchdog (CAC), released a new plan to support digital development in rural areas. Some context: The government sees digital development of rural areas as critical to reduce income inequality with urban areas. This will stop the drain of youn…

On Friday, five ministries, led by China’s cybersecurity watchdog (CAC), released a new plan to support digital development in rural areas.
Some context: The government sees digital development of rural areas as critical to reduce income inequality with urban areas.

This will stop the drain of youn...

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CAC: 中央网信办等四部门关于印发《数字乡村标准体系建设指南》的通知

CAC: 中央网信办有关负责同志就《数字乡村标准体系建设指南》答记者问

September 2, 2022

Tencent to shed its investments

On Thursday, FT reported that Tencent has set a soft target to shed about RMB 100 billion of its public company holdings, citing unnamed sources. Some context: Since late 2021, Tencent has sold meaningful stakes in a few internet companies including JD.com, SEA, and New Oriental. In fact, Ten…

On Thursday, FT reported that Tencent has set a soft target to shed about RMB 100 billion of its public company holdings, citing unnamed sources.
Some context: Since late 2021, Tencent has sold meaningful stakes in a few internet companies including JD.com, SEA, and New Oriental.

In fact, Ten...

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FT: Tencent turns from buyer to seller in investment pivot

September 2, 2022

Huawei wants more coordinated AI development

On Thursday, the current rotating chairman of Huawei, Hu Houkun was getting stoked about China’s growing AI capabilities. ICYMI: He was talking to the 5th annual World Artificial Intelligence Conference (WAIC) in Shanghai. Specifically: Hu is excited about China’s ten shiny new AI supercomputing cen…

On Thursday, the current rotating chairman of Huawei, Hu Houkun was getting stoked about China’s growing AI capabilities.
ICYMI: He was talking to the 5th annual World Artificial Intelligence Conference (WAIC) in Shanghai.
Specifically: Hu is excited about China’s ten shiny new AI supercomputing cen...

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Caixin: 华为胡厚崑：要构建相对统一的算力网络标准

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