string(13) "markets-macro"

Macro

August 25, 2022

More money-back guarantees

Last week, we told you that regulators have reportedly drawn up a list of six relatively healthy private property developers that will enjoy bond guarantees. Well, it looks like the list is growing. ICYMI: Financial media reported last week that regulators have asked state-owned enterprises to gua… Username Password Remember Me Forgot Password

Last week, we told you that regulators have reportedly drawn up a list of six relatively healthy private property developers that will enjoy bond guarantees.

Well, it looks like the list is growing.

ICYMI: Financial media reported last week that regulators have asked state-owned enterprises to gua...

sources

The Paper: 首单全额担保民营房企债券落地：龙湖集团将发行不超过15亿元中期票据

August 25, 2022

Shanghai launches NFT trading platform

On Wednesday, the Shanghai Data Exchange (SDE) announced that it will establish a dedicated trading platform for non-fungible tokens (NFTs). Some context: Last month, Shanghai’s 14th five-year plan for the digital economy called for building just such a platform. More context: The Shanghai Data Exch…

On Wednesday, the Shanghai Data Exchange (SDE) announced that it will establish a dedicated trading platform for non-fungible tokens (NFTs).
Some context: Last month, Shanghai's 14th five-year plan for the digital economy called for building just such a platform.
More context: The Shanghai Data Exch...

sources

The Paper: 开启新赛道，上海数交所联手回力B站首发全国第一份数字资产

August 25, 2022

Is this a SAFE line?

It appears Beijing is getting nervous about the yuan’s decline. Citing unnamed sources, Reuters reported that on Wednesday China’s foreign exchange regulator (SAFE) phoned several banks to warn them against aggressively selling RMB. One banking source said: “Buying too heavily in the dollar ended u…

It appears Beijing is getting nervous about the yuan’s decline.
Citing unnamed sources, Reuters reported that on Wednesday China’s foreign exchange regulator (SAFE) phoned several banks to warn them against aggressively selling RMB.
One banking source said:

“Buying too heavily in the dollar ended u...

sources

Reuters: EXCLUSIVE China regulator warns banks against yuan selling - sources

August 25, 2022

Down payments down

Local authorities are reverting to the old playbook to stimulate housing demand. On Wednesday, Caixin reported that during August some large, affluent cities reduced down payments for buyers of second homes. Based on public records, Caixin reported cuts by: Nanjing, Suzhou, and Wuxi in Jiangsu prov…

Local authorities are reverting to the old playbook to stimulate housing demand.
On Wednesday, Caixin reported that during August some large, affluent cities reduced down payments for buyers of second homes.
Based on public records, Caixin reported cuts by:

Nanjing, Suzhou, and Wuxi in Jiangsu prov...

sources

Caixin: More Chinese Cities Slash Down Payments to Prop Up Housing Sales

August 25, 2022

Serious Li

Premier Li Keqiang isn’t messing around anymore. On Wednesday, China’s number two presided over the weekly State Council executive meeting, per usual. Li’s message: Get the economy moving – now. Some context: A worse-than-expected July econ print led to multiple key interest rate reductions in recen…

Premier Li Keqiang isn’t messing around anymore.
On Wednesday, China’s number two presided over the weekly State Council executive meeting, per usual.
Li’s message: Get the economy moving – now.
Some context: A worse-than-expected July econ print led to multiple key interest rate reductions in recen...

sources

Gov.cn: 李克强主持召开国务院常务会议部署稳经济一揽子政策的接续政策措施加力巩固经济恢复发展基础等

August 25, 2022

Beijing jumps on the metaverse bandwagon

On Wednesday, the Beijing city government announced a three-year action plan to make the city a leading center of China’s metaverse development. Background: Beijing’s not the first city with a metaverse development plan. Shanghai launched its development plan in July. Hangzhou announced one …

On Wednesday, the Beijing city government announced a three-year action plan to make the city a leading center of China’s metaverse development.
Background: Beijing’s not the first city with a metaverse development plan.

Shanghai launched its development plan in July.
Hangzhou announced one ...

sources

Beijing Municipal Government: 北京市通州区人民政府北京市科学技术委员会、中关村科技园区管理委员会北京市经济和信息化局关于印发《北京城市副中心元宇宙创新发展行动计划（2022-2024年）》的通知

People.cn: 北京副中心：围绕文旅等领域支持一批元宇宙应用场景建设

The Paper: 北京城市副中心元宇宙三年行动计划：培育百家元宇宙生态链企业

Xiaoxiang Chenbao: 抢占新赛道，杭州多个城区布局“元宇宙”产业

August 25, 2022

Deep dive | Power crunch 2.0

China’s got power problems. ICYMI: Over the past two months, a growing number of central and southern provinces have been hit with the worst – and longest-lasting – heatwaves on record. Worse, the heatwaves have coincided with a record-shattering drought in the Yangtze River basin. The result: Pow…

China’s got power problems.
ICYMI: Over the past two months, a growing number of central and southern provinces have been hit with the worst – and longest-lasting – heatwaves on record.

Worse, the heatwaves have coincided with a record-shattering drought in the Yangtze River basin.

The result: Pow...

August 24, 2022

A twelve province barbecue

Hope you like roast veggies… Wednesday marked the 35th consecutive day that China’s Central Meteorological Observatory issued high temperature warnings for a large swath of South and Central China. At least 12 provinces and regions are covered by the warnings, and four are expected to see temps o…

Hope you like roast veggies...
Wednesday marked the 35th consecutive day that China's Central Meteorological Observatory issued high temperature warnings for a large swath of South and Central China.

At least 12 provinces and regions are covered by the warnings, and four are expected to see temps o...

sources

Caixin: 四部门紧急通知：抓好抗高温热害干旱夺秋粮丰收

Xinhua: 高温预警连发35天！今天四川重庆江西福建局地气温将超40℃

August 24, 2022

Christmas is saved

The export hub Yiwu, where factories churn out two-thirds of the world’s Christmas products, has re-emerged from 10 days of COVID lockdown. The latest: On Sunday, Yiwu authorities lifted most lockdown measures imposed since August 11. Some context: Four COVID infections confirmed on August 2 swelled…

The export hub Yiwu, where factories churn out two-thirds of the world’s Christmas products, has re-emerged from 10 days of COVID lockdown.
The latest: On Sunday, Yiwu authorities lifted most lockdown measures imposed since August 11.
Some context: Four COVID infections confirmed on August 2 swelled...

sources

The Paper: 8月21日起，浙江义乌市解除全域静默管理

Xinhua: 义乌累计报告630例新冠肺炎阳性感染者调整静默范围

The Paper: 义乌国际商贸城明日恢复常态化运营，疫情形势整体向好

The Paper: 义乌连续6天无社会面新增感染者，规上企业复工率超过98%

Caixin: 义乌解除大部分区域静默管理 8月货运单量环比骤降六成

August 24, 2022

Tussen twee vuren

On Tuesday, Premier Li Keqiang held a video call with Dutch Prime Minister Mark Rutte to mark the 50th anniversary of China-Netherlands ties at the ambassadorial level. Their conversation sounded pretty boilerplate, with Li saying (Gov.cn): “China is ready to work with the Netherlands to make their…

On Tuesday, Premier Li Keqiang held a video call with Dutch Prime Minister Mark Rutte to mark the 50th anniversary of China-Netherlands ties at the ambassadorial level.
Their conversation sounded pretty boilerplate, with Li saying (Gov.cn):

“China is ready to work with the Netherlands to make their...

sources

Gov.cn: Premier Li meets Dutch PM on bilateral ties

Bloomberg: Isolating China Won’t Help Hong Kong and Uyghurs, Says Dutch Leader

Bloomberg: US Wants Dutch Supplier to Stop Selling Chipmaking Gear to China

Eurostat: China-EU - international trade in goods statistics

August 24, 2022

Bringing the agtech mountain to Moses

On Tuesday, the Ministry of Education (MoE) and two other agencies announced another batch of rural scientific institutes. Background: China has long struggled to ensure that agtech innovation trickles down to rural areas. The techy farmers that can afford an education leave and rarely come back. T…

On Tuesday, the Ministry of Education (MoE) and two other agencies announced another batch of rural scientific institutes.
Background: China has long struggled to ensure that agtech innovation trickles down to rural areas.

The techy farmers that can afford an education leave and rarely come back.
T...

sources

Gov.cn: 教育部办公厅农业农村部办公厅中国科协办公厅关于支持建设一批科技小院的通知

August 24, 2022

Trick or treat

The creative juices are flowing at Chinese banks. They’ve been conjuring up nifty ways to extend loans amidst government pressure to lend more. On Tuesday, Bloomberg scooped that some state-owned banks are employing tricks to inflate their loan volumes, including by: Allowing firms to borrow and th…

The creative juices are flowing at Chinese banks. They've been conjuring up nifty ways to extend loans amidst government pressure to lend more.
On Tuesday, Bloomberg scooped that some state-owned banks are employing tricks to inflate their loan volumes, including by:

Allowing firms to borrow and th...

sources

Bloomberg: Chinese Banks Are Inflating Their Loan Numbers as Demand Sinks

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