string(13) "markets-macro"

Macro

August 16, 2022

Squeal of fortune

It’s official: China’s hog cycle has finally hit bottom. After falling for nearly two years straight, the price of pork rose in y/y terms in July (Caixin). ICYDK: The hog cycle is a cyclical pricing pattern driven by farms expanding or reducing their herds in response to prices – and China has one… Username Password… Read More »

It’s official: China’s hog cycle has finally hit bottom.

After falling for nearly two years straight, the price of pork rose in y/y terms in July (Caixin).

ICYDK: The hog cycle is a cyclical pricing pattern driven by farms expanding or reducing their herds in response to prices – and China has one...

sources

Caixin: 猪周期温和重启，这一次有什么不同

Economic Daily: 买不起饲料！猪价90天大涨50%，正邦科技收入暴降近八成

Yicai: 部分上市猪企7月实现盈利，猪周期投资黄金时点已至？

August 16, 2022

Is there a bottom to this thing?

On Monday, the National Bureau of Statistics published the July econ data for the property sector. Spoiler alert: Things ain’t looking good. Sales volumes were down again, falling by 23.1% y/y compared to a 22.2% y/y drop in June. Sales by value improved marginally, dropping 28.8% y/y compared to a…

On Monday, the National Bureau of Statistics published the July econ data for the property sector.
Spoiler alert: Things ain't looking good.
Sales volumes were down again, falling by 23.1% y/y compared to a 22.2% y/y drop in June.

Sales by value improved marginally, dropping 28.8% y/y compared to a...

sources

NBS: 2022年1—7月份全国房地产开发投资下降6.4%

NBS: 2022年7月份70个大中城市商品住宅销售价格变动情况

August 16, 2022

Take me home, country roads

Rural China has a roads problem – and Beijing wants to do something about it. On Monday, central authorities – including the Ministry of Transport, the Ministry of Agriculture and Rural Affairs, and the macro planner (NDRC), among others – issued a major plan for rural road development. Under the pl…

Rural China has a roads problem – and Beijing wants to do something about it.
On Monday, central authorities – including the Ministry of Transport, the Ministry of Agriculture and Rural Affairs, and the macro planner (NDRC), among others – issued a major plan for rural road development.
Under the pl...

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Xinhua: 六部门：2022年力争新增完成新改建农村公路3万公里

August 16, 2022

Green means “go”

A Caixin piece published on Monday is shedding new light on how China’s “traffic light” system might work. Some context: The “traffic light system” – which came to public attention at the Central Economic Work Conference in December – will allow the government to guide investment activit…

A Caixin piece published on Monday is shedding new light on how China's "traffic light” system might work.
Some context: The "traffic light system" – which came to public attention at the Central Economic Work Conference in December – will allow the government to guide investment activit...

sources

Caixin: 最新财新周刊 | 蚂蚁整改进行时

August 16, 2022

MoST minister calls on high-tech zones to stabilize the economy

On Friday, Wang Zhigang, the Minister of Science and Technology, told officials that China’s high-tech zones should do their part to stabilize the economy. Sound familiar? The Ministry of Science and Technology made an announcement with an almost identical message in June. Since then, economic numb…

On Friday, Wang Zhigang, the Minister of Science and Technology, told officials that China’s high-tech zones should do their part to stabilize the economy.
Sound familiar? The Ministry of Science and Technology made an announcement with an almost identical message in June.
Since then, economic numb...

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ST Daily: 科技部召开推进会—— 国家高新区和高新技术企业要成为宏观经济增长稳定器

Baike: 中国高新技术产业开发区

National Bureau of Statistics: 国家统计局新闻发言人就2022年7月份国民经济运行情况答记者问

August 16, 2022

You know what really fries my servers?

On Monday, Wuhan’s new supercomputing center was connected to the National Computing Power Network (NCPN). Background: The RMB 1 billion facility hasn’t fully launched yet, but will be operational before September 30. More background: The NCPN is a relatively new government-directed project that …

On Monday, Wuhan’s new supercomputing center was connected to the National Computing Power Network (NCPN).
Background: The RMB 1 billion facility hasn't fully launched yet, but will be operational before September 30.
More background: The NCPN is a relatively new government-directed project that ...

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STDaily: 国内最大集装箱超算中心“上网”

Sina: 算力顶天地，存力纳乾坤：国家超级计算济南中心的一体两面

August 16, 2022

Picking AI winners

Yesterday, we told you that the Ministry of Science and Technology (MoST) announced high-level guidance on promoting the development of AI through demonstration projects. Later in the day, MoST released a follow-up document telling local officials exactly which types of demonstration project the ag…

Yesterday, we told you that the Ministry of Science and Technology (MoST) announced high-level guidance on promoting the development of AI through demonstration projects.
Later in the day, MoST released a follow-up document telling local officials exactly which types of demonstration project the ag...

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Ministry of Science and Technology: 科技部关于支持建设新一代人工智能示范应用场景的通知

August 16, 2022

MoST wants the MoRE hard tech innovation

On Monday, the Ministry of Science and Technology (MoST) and Ministry of Finance (MoF) announced a two-year plan to beef up the innovative capabilities of Chinese enterprises. The plan aims to increase investment in R&D – specifically in sectors of strategic importance to the state. That means…

On Monday, the Ministry of Science and Technology (MoST) and Ministry of Finance (MoF) announced a two-year plan to beef up the innovative capabilities of Chinese enterprises.

The plan aims to increase investment in R&D - specifically in sectors of strategic importance to the state.

That means...

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Ministry of Science and Technology: 科技部财政部关于印发《企业技术创新能力提升行动方案（2022—2023年）》的通知

Jiemian: 科技部、财政部：强化对企业创新的风险投资等金融支持

Jiemian: 科技部、财政部：制定国家鼓励企业研发的重点领域指导目录，引导企业围绕国家需求开展技术创新

August 16, 2022

Expectations vs. reality

China’s stats bureau published the monthly employment data for July on Monday. The headline: Youth (16-24) unemployment hit a record high of 19.9%, up from 19.3% in June and 16.2% in July 2021. Meanwhile, the surveyed urban unemployment rate was 5.4%, a slight improvement on June’s 5.5% print. ICY…

China’s stats bureau published the monthly employment data for July on Monday.
The headline: Youth (16-24) unemployment hit a record high of 19.9%, up from 19.3% in June and 16.2% in July 2021.

Meanwhile, the surveyed urban unemployment rate was 5.4%, a slight improvement on June’s 5.5% print.

ICY...

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NBS: 国家统计局新闻发言人就2022年7月份国民经济运行情况答记者问

Caixin: 7月城镇调查失业率降至5.4% 青年人失业率19.9%创新高

August 15, 2022

Data dump – econ data

China’s stats bureau published the monthly econ data for July on Monday. The headlines: Retail sales rose 2.7% y/y in July, down from a 3.1% y/y increase in June. Fixed asset investment rose 3.5% y/y in July, compared with 5.8% y/y growth in June. Value-added output at industrial firms rose 3.8% y/…

China’s stats bureau published the monthly econ data for July on Monday.
The headlines:

Retail sales rose 2.7% y/y in July, down from a 3.1% y/y increase in June.
Fixed asset investment rose 3.5% y/y in July, compared with 5.8% y/y growth in June.
Value-added output at industrial firms rose 3.8% y/...

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NBS: 国家统计局新闻发言人就2022年7月份国民经济运行情况答记者问

Reuters: China unexpectedly cuts key rates as economic data disappoints

August 15, 2022

Stay right where you are

Local governments are worried about domestic tourists coming home with COVID as the virus makes a resurgence at travel hotspots across China. Hainan and Tibet, two top summer destinations, are experiencing some serious outbreaks: As of August 14, Hainan and Tibet had seen over 7,000 and 900 cases, …

Local governments are worried about domestic tourists coming home with COVID as the virus makes a resurgence at travel hotspots across China.
Hainan and Tibet, two top summer destinations, are experiencing some serious outbreaks:

As of August 14, Hainan and Tibet had seen over 7,000 and 900 cases, ...

sources

CCTV: 各地加强防控举措抗击疫情

Caixin: 西藏累计感染者近千拉萨、日喀则卫健委负责人均被免职

Caixin: 孙春兰继续在三亚调研指导了解渔港渔市渔民防控管理

ifeng: 海南致函江苏放开航班接收滞留旅客？江苏回应

August 15, 2022

One small step for small government

Li Keqiang’s administrative reform campaign is never-ending. The latest push came on Friday when the State Council announced that it will cancel 29 fines levied on businesses and reduce a further 24 (Gov.cn 1). They cover infringements related to transportation, public security, and market supervis…

They cover infringements related to transportation, public security, and market supervis...

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Gov.cn: 国务院关于取消和调整一批罚款事项的决定

Gov.cn: 国务院政策吹风会文字实录

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