string(13) "markets-macro"

Macro

January 14, 2025

China Cinda sets up RMB 20 billion fund to rescue stalled property projects

Three years into the property downturn, China’s asset management companies (AMCs) are still pumping cash to the embattled sector. The latest: On Thursday, China Cinda – one of four major state-owned AMCs – said it had launched an RMB 20 billion fund to rescue real estate projects and developers in d… Username Password Remember Me… Read More »

Three years into the property downturn, China’s asset management companies (AMCs) are still pumping cash to the embattled sector.
The latest: On Thursday, China Cinda – one of four major state-owned AMCs – said it had launched an RMB 20 billion fund to rescue real estate projects and developers in d...

sources

Caixin: 信达系设立200亿元纾困基金拟投资“问题房企”与“问题项目”

The Paper: 金科股份：中国长城资产新增为重整投资人，将和长城资本合计投资约3.97亿元

January 14, 2025

Local government debt swaps cut servicing costs by over 2 ppts

Beijing’s debt relief package is helping localities reduce their debt servicing burdens. On Friday, the finance ministry (MoF) revealed that the “hidden debt” refinancing scheme announced in November has already helped local governments bring down debt servicing costs by over 2 percentage points (pp…

Beijing’s debt relief package is helping localities reduce their debt servicing burdens.
On Friday, the finance ministry (MoF) revealed that the "hidden debt" refinancing scheme announced in November has already helped local governments bring down debt servicing costs by over 2 percentage points (pp...

sources

SCIO: 国新办举行“中国经济高质量发展成效”系列新闻发布会介绍财政高质量发展成效图文实录

January 14, 2025

Biden fires parting shots at China

On Monday, the Biden administration announced a series of measures designed to cement its tech and economic pressure campaign against Beijing as US President Joe Biden prepares to leave office. These include: New rules from the Commerce Department tightening authorization requirements for the expor…

New rules from the Commerce Department tightening authorization requirements for the expor...

sources

NYT: Biden Administration Adopts Rules to Guide A.I.’s Global Spread

SCMP: US proposes to increase oversight of ‘de minimis’ exemption for low-value imports

Reuters: Exclusive: US probe finds China unfairly dominates shipbuilding, paving way for penalties, sources say

Nikkei: China's economy will never surpass U.S., Biden says in exit speech

MofCom: 商务部新闻发言人就美国发布人工智能出口管制措施有关问题答记者问

January 14, 2025

Beijing releases measures to boost cultural consumption and tourism

Tourism and cultural consumption are critical to China’s growth strategy. On Monday, the State Council General Office published a set of measures aiming to boost both sectors. Key measures include: Encouraging local authorities to issue consumption coupons for cultural products and tourism Guidi…

Tourism and cultural consumption are critical to China's growth strategy.
On Monday, the State Council General Office published a set of measures aiming to boost both sectors.
Key measures include:

Encouraging local authorities to issue consumption coupons for cultural products and tourism

Guidi...

sources

Gov.cn: 关于进一步培育新增长点繁荣文化和旅游消费的若干措施

January 14, 2025

Qinghai gets new Party secretary

On December 31, the Party appointed new Party secretaries for four provinces – Hubei, Qinghai, Henan, and Guangxi. So far, we’ve introduced the new bosses in Hubei, Henan, and Guangxi. Today, we introduce Qinghai’s new Party boss, Wu Xiaojun. Wu, 58, replaces Chen Gang, who’s been moved to G…

On December 31, the Party appointed new Party secretaries for four provinces – Hubei, Qinghai, Henan, and Guangxi.

So far, we’ve introduced the new bosses in Hubei, Henan, and Guangxi.

Today, we introduce Qinghai's new Party boss, Wu Xiaojun.

Wu, 58, replaces Chen Gang, who's been moved to G...

sources

Xinhua: 青海省委主要负责同志职务调整吴晓军任青海省委书记

January 14, 2025

Sci-tech work conference tells local govs to get in line

On Monday, the annual National Science and Technology Work Conference was held in Beijing. Some context: The sci-tech work conference is an annual meetup that ensures leaders are aligned on tasks and strategic priorities for the coming 12 months. Ding Xuexiang, director of the Central Commission on …

On Monday, the annual National Science and Technology Work Conference was held in Beijing.
Some context: The sci-tech work conference is an annual meetup that ensures leaders are aligned on tasks and strategic priorities for the coming 12 months.
Ding Xuexiang, director of the Central Commission on ...

sources

People.cn: 全国科技工作会议在京召开

January 13, 2025

Exports surge in December

China’s trade data ended 2024 on an upbeat note. Export growth accelerated in December, and imports expanded for the first time in months. Numbers released by the customs bureau on Monday showed: Exports grew 10.7% y/y in December, up from a 6.7% rise in November. Imports rose 1.0% in December, its…

China’s trade data ended 2024 on an upbeat note.
Export growth accelerated in December, and imports expanded for the first time in months.
Numbers released by the customs bureau on Monday showed:

Exports grew 10.7% y/y in December, up from a 6.7% rise in November.
Imports rose 1.0% in December, its...

sources

Customs: 2024年12月全国进出口总值表（美元值）

January 13, 2025

Country Garden unveils offshore debt restructuring plan

Country Garden is inching towards an offshore restructuring deal that could cut its debt by as much as USD 11.6 billion. The developer indicated it had reached an understanding with a creditor group made up of seven banks in a Thursday filing (HKEX). Under the latest proposal, bondholders were giv…

Country Garden is inching towards an offshore restructuring deal that could cut its debt by as much as USD 11.6 billion.

The developer indicated it had reached an understanding with a creditor group made up of seven banks in a Thursday filing (HKEX).

Under the latest proposal, bondholders were giv...

sources

HKEX: UPDATE ON THE OFFSHORE DEBT RESTRUCTURING AND BUSINESS DEVELOPMENT

Reuters: China's Country Garden proposes deal to reduce offshore debt by $11.6 bln

Bloomberg: Country Garden Yet to Get Key Bondholders’ Support for Debt Plan

January 13, 2025

PBoC stops buying bonds

That ended quickly! On Friday, China’s central bank (PBoC) said it has suspended buying bonds during open market operations. The PBoC said it made the decision: “In view of the recent continued shortage of supply in the government bond market” It will resume purchases when “supply and demand condi…

That ended quickly!
On Friday, China’s central bank (PBoC) said it has suspended buying bonds during open market operations.
The PBoC said it made the decision:

“In view of the recent continued shortage of supply in the government bond market”

It will resume purchases when “supply and demand condi...

sources

PBoC: 中国人民银行决定阶段性暂停在公开市场买入国债

January 13, 2025

Wang Yi concludes Africa tour

New year, same old resolutions. On Saturday, top diplomat Wang Yi returned from his week-long tour of Africa, where he paid visits to Namibia, the Republic of the Congo (RoC), Chad, and Nigeria Some context: Since 1991, China’s foreign minister has kicked off each year with a multi-country tour of A…

New year, same old resolutions.
On Saturday, top diplomat Wang Yi returned from his week-long tour of Africa, where he paid visits to Namibia, the Republic of the Congo (RoC), Chad, and Nigeria
Some context: Since 1991, China’s foreign minister has kicked off each year with a multi-country tour of A...

sources

MoFA: 王毅在结束对非洲四国访问后接受中国媒体采访

January 13, 2025

National database of emission factors released

China just took a big step forward in ongoing efforts to build a robust emissions accounting system. On Friday, after years of work by the environment ministry (MEE) and the stats bureau (NBS), China’s first national database of emission factors (EFs) went live. ICYDK: EFs are estimates of the amoun…

China just took a big step forward in ongoing efforts to build a robust emissions accounting system.
On Friday, after years of work by the environment ministry (MEE) and the stats bureau (NBS), China's first national database of emission factors (EFs) went live.
ICYDK: EFs are estimates of the amoun...

sources

MEE: “国家温室气体排放因子数据库”（第一版）正式上线

January 13, 2025

Rising star Chen Gang appointed Guangxi Party secretary

On December 31, the Party appointed new Party secretaries for four provinces – Hubei, Qinghai, Henan, and Guangxi. So far, we’ve introduced the new bosses in Hubei and Henan. Today, we’re digging into Guangxi’s new Party boss, Chen Gang. Chen, who is just 59 years old, replaces Liu Ning, who took…

On December 31, the Party appointed new Party secretaries for four provinces – Hubei, Qinghai, Henan, and Guangxi.

So far, we've introduced the new bosses in Hubei and Henan.

Today, we're digging into Guangxi's new Party boss, Chen Gang.

Chen, who is just 59 years old, replaces Liu Ning, who took...

sources

Xinhua: 广西壮族自治区党委主要负责同志职务调整陈刚任广西壮族自治区党委书记

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