string(13) "markets-macro"

Macro

August 23, 2022

Blackout on the Bund

The retail sector is sweating and suffering as power shortages persist amid record heat and drought in central and southern China. The latest: On Sunday, Shanghai authorities decided to save power by switching off iconic lights on both sides of the Huangpu River on Monday and Tuesday (163.com). Shan… Username Password Remember Me … Read More »

The retail sector is sweating and suffering as power shortages persist amid record heat and drought in central and southern China.
The latest: On Sunday, Shanghai authorities decided to save power by switching off iconic lights on both sides of the Huangpu River on Monday and Tuesday (163.com).
Shan...

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Jiemian: 长三角部分地区启动有序用电：景观照明暂停，企业错峰生产

163.com: 上海加入“省电模式”，外滩照明暂停开放两天！四川人民为省电，更是拼了

China News: 成都保民生用电：户外广告照明关闭商场部分电梯停运

August 23, 2022

Quick take | 1+N: Double-barreled pollution control

On June 17, seven central ministries released another high-level policy in the “1+N” framework for achieving Beijing’s ambitious 30-60 climate targets. (Wondering what this 1+N thing is we’re on about here? Please see the appendix.) For those keeping count (like us), this is the fifth policy in th…

On June 17, seven central ministries released another high-level policy in the “1+N” framework for achieving Beijing’s ambitious 30-60 climate targets.

(Wondering what this 1+N thing is we’re on about here? Please see the appendix.)

For those keeping count (like us), this is the fifth policy in th...

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MEE: 关于印发《减污降碳协同增效实施方案》的通知

MEE: 生态环境部有关负责人就《减污降碳协同增效实施方案》答记者问

August 23, 2022

It’s a bird! It’s a plane! It’s a roadmap for drone development!

On Monday, the Civil Aviation Administration of China (CAAC) published a draft of its first policy to regulate drones. ICYDK: The CAAC is the central planner for China’s aviation system, controlling civilian airspace and airports. The CAAC’s drone “roadmap” sets out key goals across five-year increm…

On Monday, the Civil Aviation Administration of China (CAAC) published a draft of its first policy to regulate drones.
ICYDK: The CAAC is the central planner for China's aviation system, controlling civilian airspace and airports.
The CAAC's drone "roadmap" sets out key goals across five-year increm...

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CAAC: 民用无人驾驶航空发展路线图V1.0

Yicai: 民航局：全方位提升我国在无人驾驶航空领域的国际竞争力

August 23, 2022

Going DEPA and DEPA

China just took a big step toward joining a new multilateral digital trade body. On Monday, the Ministry of Commerce (MofCom) announced that China is joining a working group to negotiate entering the Digital Economy Partnership Agreement (DEPA). This follows China’s application to join DEPA l…

China just took a big step toward joining a new multilateral digital trade body.
On Monday, the Ministry of Commerce (MofCom) announced that China is joining a working group to negotiate entering the Digital Economy Partnership Agreement (DEPA).

This follows China’s application to join DEPA l...

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Xinhua: China advancing negotiations on joining DEPA: commerce ministry

August 23, 2022

Here we go again

Not you again! On Monday, the inter-ministerial body for the transportation industry sat down with 11 ride-hailing platforms – including Didi, T3, and Meituan Dache – to talk compliance. Some context: This body – led by the Ministry of Transport – was established in 2018 to kick the ride-hailing in…

Not you again!
On Monday, the inter-ministerial body for the transportation industry sat down with 11 ride-hailing platforms – including Didi, T3, and Meituan Dache – to talk compliance.
Some context: This body – led by the Ministry of Transport – was established in 2018 to kick the ride-hailing in...

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MoT: 五部门联合约谈11家网约车平台公司

163.com: 又是T3出行！上百网约车司机集体大罢工，要求免租金！

August 23, 2022

WeChat accounts for sale

On Friday, Chinese media reported a Jiangsu court’s ruling that individual WeChat accounts or groups can’t be sold – in most cases. Background: Selling WeChat accounts – such as for building a database of valuable contacts and selling them – is a growing phenomenon. But it’s also a conduit for ille…

On Friday, Chinese media reported a Jiangsu court’s ruling that individual WeChat accounts or groups can't be sold - in most cases.
Background: Selling WeChat accounts - such as for building a database of valuable contacts and selling them - is a growing phenomenon.

But it’s also a conduit for ille...

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People's Daily: 网红50万出卖“朋友圈”被判无效个人信息侵害难以挽回

yc717: “微信群买卖”的灰色生意！太暴利了！

August 23, 2022

Taxes? NEVer heard of ’em

Thursday’s State Council meeting (as reported by state media on Friday) confirmed long-discussed preferential policies to boost new energy vehicle (NEV) sales. The biggest news (Gov.cn): NEVs will remain exempt from purchase taxes through the end of 2023, extending the cutoff by one extra year…

Thursday’s State Council meeting (as reported by state media on Friday) confirmed long-discussed preferential policies to boost new energy vehicle (NEV) sales.
The biggest news (Gov.cn):

NEVs will remain exempt from purchase taxes through the end of 2023, extending the cutoff by one extra year...

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Gov.cn: 李克强主持召开国务院常务会议部署推动降低企业融资成本和个人消费信贷成本的措施加大金融支持实体经济力度等

August 23, 2022

In the jailhouse

It’s been a long time coming, but Xiao Jianhua is finally going to the big house. On Friday, foreign media reported that the billionaire financier has been sentenced to 13 years in prison after pleading guilty to graft and illegal fundraising. Some context: In 2017, Xiao was abducted from the Hong K…

It’s been a long time coming, but Xiao Jianhua is finally going to the big house.
On Friday, foreign media reported that the billionaire financier has been sentenced to 13 years in prison after pleading guilty to graft and illegal fundraising.
Some context: In 2017, Xiao was abducted from the Hong K...

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FT: Chinese tycoon Xiao Jianhua sentenced to 13 years in jail for financial crimes

WSJ: Vanished Chinese-Canadian Billionaire Sentenced to 13 Years in Prison

August 23, 2022

Bailout bucks

On Monday, Bloomberg reported that the central bank (PBoC) will lend out RMB 200 billion to help ensure that stalled housing projects are completed. Citing unnamed sources, Bloomberg said that the loans will be distributed via policy banks. ICYMI: On Monday, we noted that the housing ministry (MoH…

On Monday, Bloomberg reported that the central bank (PBoC) will lend out RMB 200 billion to help ensure that stalled housing projects are completed.

Citing unnamed sources, Bloomberg said that the loans will be distributed via policy banks.

ICYMI: On Monday, we noted that the housing ministry (MoH...

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Bloomberg: China Plans $29 Billion in Special Loans to Troubled Developers

August 23, 2022

MIIT head honcho draws line under corruption

On Friday, the new Ministry of Industry and Information Technology (MIIT) Minister-designate, Jin Zhuanglong, gave officials a big pep talk. Top of the agenda: Keeping on the straight and narrow. Background: It’s been less than a month since Xiao Yaqing was removed from his MIIT ministerial post. W…

On Friday, the new Ministry of Industry and Information Technology (MIIT) Minister-designate, Jin Zhuanglong, gave officials a big pep talk.
Top of the agenda: Keeping on the straight and narrow.
Background: It’s been less than a month since Xiao Yaqing was removed from his MIIT ministerial post.

W...

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MIIT: 2022年全国工业和信息化主管部门负责同志电视电话会议在京召开

August 22, 2022

Apex creditors

On Monday, central bank (PBoC) governor Yi Gang presided over a meeting with China’s biggest lenders, including: Policy lenders – China Development Bank and the Agricultural Development Bank of China State-owned commercial banks – Bank of China, China Construction Bank, Agricultural Bank of China, …

On Monday, central bank (PBoC) governor Yi Gang presided over a meeting with China’s biggest lenders, including:

Policy lenders – China Development Bank and the Agricultural Development Bank of China
State-owned commercial banks – Bank of China, China Construction Bank, Agricultural Bank of China, ...

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PBoC: 人民银行召开部分金融机构货币信贷形势分析座谈会

August 22, 2022

More help for the poor

At last week’s State Council meeting, Premier Li Keqiang also promised more support for China’s most vulnerable people. Li first gave localities a pat on the shoulder, recognizing that (Gov.cn): In H1 2022, a total of RMB 120 billion in subsistence allowances was disbursed nationwide, a 7% increase…

At last week's State Council meeting, Premier Li Keqiang also promised more support for China's most vulnerable people.
Li first gave localities a pat on the shoulder, recognizing that (Gov.cn):

In H1 2022, a total of RMB 120 billion in subsistence allowances was disbursed nationwide, a 7% increase...

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Gov.cn: 李克强主持召开国务院常务会议部署推动降低企业融资成本和个人消费信贷成本的措施加大金融支持实体经济力度等

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