string(13) "markets-macro"

Macro

August 30, 2022

Everything I do, I do it for Covid

On Friday, Meituan delivered its Q2 earnings reports. Q2 revenue came in at RMB 50.9 billion, up 16.4% y/y. Q2 net loss narrowed to RMB 1.12 billion from RMB 3.36 billion over the same period last year. The numbers beat analysts’ estimates… …but that’s still the slowest quarterly … Username Password Remember Me … Read More »

On Friday, Meituan delivered its Q2 earnings reports.

Q2 revenue came in at RMB 50.9 billion, up 16.4% y/y.
Q2 net loss narrowed to RMB 1.12 billion from RMB 3.36 billion over the same period last year.

The numbers beat analysts' estimates...

...but that’s still the slowest quarterly ...

sources

Jiemian: 美团Q2财报背后：本地生活进入新周期，迎来新路径

Reuters: China's Meituan beats Q2 estimates with slowest growth in two years

August 30, 2022

You can almost smell the bailout money

The bailout is tantalizingly close. On Monday, Caixin disclosed more details about the central government’s plan for funding the completion of stalled housing projects. ICYMI: Earlier this month, Xinhua reported a joint plan by the housing ministry (MoHURD), the Ministry of Finance (MoF), and the ce…

The bailout is tantalizingly close.
On Monday, Caixin disclosed more details about the central government’s plan for funding the completion of stalled housing projects.
ICYMI: Earlier this month, Xinhua reported a joint plan by the housing ministry (MoHURD), the Ministry of Finance (MoF), and the ce...

sources

Caixin: 支持“保交楼” 2000亿元全国性专项借款启动

August 30, 2022

Boycott blues

The mortgage boycott may be taking a bigger toll on banks than it initially seemed. On Monday, Agricultural Bank of China (ABC) reported it is owed RMB 1.23 billion in overdue loans due to homeowners boycotting mortgage repayments on unfinished properties they should have received (Bloomberg). That…

The mortgage boycott may be taking a bigger toll on banks than it initially seemed.
On Monday, Agricultural Bank of China (ABC) reported it is owed RMB 1.23 billion in overdue loans due to homeowners boycotting mortgage repayments on unfinished properties they should have received (Bloomberg).

That...

sources

Bloomberg: China’s AgBank Says Overdue Loans From Mortgage Boycott Double

August 30, 2022

Teaching Cyber Civilization

On Sunday, China’s cybersecurity watchdog (CAC) kicked off the 2022 China Cyber Civilization Conference in Tianjin. Recap: “Cyber Civilization” is the drive to shape the internet according to the Party’s moral and political ideals. It looks at everything from control of online content, e…

On Sunday, China’s cybersecurity watchdog (CAC) kicked off the 2022 China Cyber Civilization Conference in Tianjin.
Recap: "Cyber Civilization" is the drive to shape the internet according to the Party’s moral and political ideals.

It looks at everything from control of online content, e...

sources

CAC: 2022年中国网络文明大会主论坛在天津举行

August 30, 2022

Platforms giveth, and the CAC taketh away

Education wasn’t the only topic under discussion at Monday’s Cyber Civilization Conference. In his conference speech, China’s cybersecurity watchdog (CAC) Deputy Director Sheng Ronghua said that the internet should be a facilitator for charitable donations. Some context: Last week, we outlined how t…

Education wasn't the only topic under discussion at Monday's Cyber Civilization Conference.
In his conference speech, China's cybersecurity watchdog (CAC) Deputy Director Sheng Ronghua said that the internet should be a facilitator for charitable donations.
Some context: Last week, we outlined how t...

sources

Sina: 中央网信办：推动“互联网+公益慈善”向民生服务等新场景拓展

August 30, 2022

J’aCCUSe!

Carbon capture has been gaining traction as a promising new global industry – and China’s oil companies are leading its development. On August 29, Sinopec turned on the world’s largest carbon capture, utilization, and storage (CCUS) project, reported to suck up 1 million tons of carbon emissions ann…

Carbon capture has been gaining traction as a promising new global industry – and China's oil companies are leading its development.
On August 29, Sinopec turned on the world’s largest carbon capture, utilization, and storage (CCUS) project, reported to suck up 1 million tons of carbon emissions ann...

sources

BJX: 我国首个百万吨级CCUS项目投产

The Paper: 中国首个百万吨级碳捕集利用与封存项目建成投产

August 30, 2022

The data security seascape

Waiting for clarity on Important Data? Don’t hold your breath. Last week, the Shanghai municipal government held a pilot work meeting on data classification and formulating Important Data catalogues. Quick background: The 2016 Cybersecurity Law (CSL), the 2021 Data Security Law (DSL), and supporting…

Waiting for clarity on Important Data? Don’t hold your breath.
Last week, the Shanghai municipal government held a pilot work meeting on data classification and formulating Important Data catalogues.
Quick background: The 2016 Cybersecurity Law (CSL), the 2021 Data Security Law (DSL), and supporting...

sources

21st Century Biz: 数据分类分级进行时：上海召开试点工作会议，相关国家标准已到送审稿阶段

August 30, 2022

Rapid deployment

On Friday, we tallied up the amount of stimulus – a whopping RMB 9.75 trillion – that’s been rolled out by Beijing this year. Today, we’re reviewing one aspect of that stimulus: Infrastructure investments by China’s policy banks. ICYMI: In June, the State Council instructed policy banks China Deve…

On Friday, we tallied up the amount of stimulus – a whopping RMB 9.75 trillion – that’s been rolled out by Beijing this year.

Today, we’re reviewing one aspect of that stimulus: Infrastructure investments by China's policy banks.

ICYMI: In June, the State Council instructed policy banks China Deve...

sources

The Paper: 政策性开发性金融工具已投放3000亿，支持基础设施重点领域项目

Shanghai Securities News: 无锡首个政策性开发性金融工具支持项目开工

Gov.cn: 全省首笔农发基础设施基金在定边投放

China Banking News: Agricultural Development Bank of China Invests 90 Billion Yuan in Rural Infrastructure via New Fund

August 29, 2022

Willkommen, et bienvenue

Green finance in China isn’t just for Chinese banks. On Friday, the central bank (PBoC) announced the expansion of its core green finance program, the carbon emission reduction facility (CERF), to include foreign banks for the first time. Quick recap: The PBoC rolled out CERF in November. Under the…

Green finance in China isn’t just for Chinese banks.
On Friday, the central bank (PBoC) announced the expansion of its core green finance program, the carbon emission reduction facility (CERF), to include foreign banks for the first time.
Quick recap: The PBoC rolled out CERF in November.

Under the...

sources

Financial News: 人民银行：将部分外资银行纳入碳减排支持工具金融机构范围

21st Century Biz: 首批央行碳减排支持工具外资行名单公布！德意志银行、法国兴业银行入选

August 29, 2022

Not off the hook

Vice Premier Hu Chunhua traveled to Jiangxi province over the weekend, visiting Poyang Lake, popular with tourists and twitchers. But Hu wasn’t sightseeing. In case you’ve been living under a rock (exposed for the first time in decades): There’s a record-breaking drought ravaging the Yangtze River b…

Vice Premier Hu Chunhua traveled to Jiangxi province over the weekend, visiting Poyang Lake, popular with tourists and twitchers.
But Hu wasn't sightseeing.
In case you've been living under a rock (exposed for the first time in decades): There's a record-breaking drought ravaging the Yangtze River b...

sources

The Paper: 胡春华在江西督导农业抗旱保丰收工作：最大限度降低灾害损失

August 29, 2022

Never say NEVer

China’s new energy vehicle (NEV) makers are in for some disappointment. From Friday to Sunday, Beijing and Hainan jointly hosted the 2022 World New Energy Vehicle Congress. Some context: The event is the most important annual gathering of China’s NEV industry. It’s backed by seven central governmen…

China's new energy vehicle (NEV) makers are in for some disappointment.
From Friday to Sunday, Beijing and Hainan jointly hosted the 2022 World New Energy Vehicle Congress.
Some context: The event is the most important annual gathering of China's NEV industry.

It's backed by seven central governmen...

sources

Gov.cn: 李克强向2022世界新能源汽车大会致贺信

The Paper: 万钢：统筹推进插电、增程式混合动力协同发展

Hainan STA: 海南省人民政府关于印发海南省碳达峰实施方案的通知（琼府〔2022〕27号）

August 29, 2022

Live within the water margin

Local governments will soon need to implement the Yellow River Protection Law (YRPL), to ensure it’s “a happy river that benefits the people.” That was the message from Li Zhanshu, chairman of the national legislature, when he visited Gansu province from Friday to Sunday. Some context: The legislatu…

Local governments will soon need to implement the Yellow River Protection Law (YRPL), to ensure it's "a happy river that benefits the people."
That was the message from Li Zhanshu, chairman of the national legislature, when he visited Gansu province from Friday to Sunday.
Some context: The legislatu...

sources

Xinhua: 栗战书在甘肃就黄河保护法立法进行调研时强调贯彻落实习近平生态文明思想在法治轨道上推进黄河保护

NPC Observer: 中华人民共和国黄河保护法(草案)

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