string(13) "markets-macro"

Macro

August 12, 2022

Assisted crashing

Another fatal crash in a (sort of) autonomous vehicle has Weibo in a tizzy. What happened: On Wednesday in Ningbo, an XPeng P7 driving at high speed smashed into a man standing in front of his broken-down car on the shoulder of the highway. The driver had the lane centering assist feature on, which… Username… Read More »

Another fatal crash in a (sort of) autonomous vehicle has Weibo in a tizzy.
What happened: On Wednesday in Ningbo, an XPeng P7 driving at high speed smashed into a man standing in front of his broken-down car on the shoulder of the highway.

The driver had the lane centering assist feature on, which...

sources

Sina: 小鹏P7汽车撞人致死！到底谁的错？

August 12, 2022

Export hub Yiwu locks down

Christmas could be in trouble. On Thursday, the eastern city of Yiwu in Zhejiang province was put under a three-day COVID lockdown. So what? Yiwu boasts merely 1.9 million residents, modest by PRC standards. But it’s home to the world’s largest small commodities market, and is therefore a major Chin…

Christmas could be in trouble.
On Thursday, the eastern city of Yiwu in Zhejiang province was put under a three-day COVID lockdown.
So what? Yiwu boasts merely 1.9 million residents, modest by PRC standards. But it's home to the world's largest small commodities market, and is therefore a major Chin...

sources

The Paper: 浙江义乌市决定实行临时性全域静默管理

Caixin: 义乌实行临时性全域静默管理物流快递和小商品城停摆

SCMP: Coronavirus lockdown at China’s export showroom Yiwu clouds Christmas order outlook

August 12, 2022

In it to spin it

The monthslong spat between HSBC and its biggest shareholder, Shenzhen-based mega-insurer Ping An, has kicked back up, with an unnamed source at the Chinese company briefing the media against the bank. Some context: Back in April, Ping An – which holds an 8.4% stake in HSBC – publicly called for the…

The monthslong spat between HSBC and its biggest shareholder, Shenzhen-based mega-insurer Ping An, has kicked back up, with an unnamed source at the Chinese company briefing the media against the bank.
Some context: Back in April, Ping An – which holds an 8.4% stake in HSBC – publicly called for the...

sources

SCMP: HSBC has overstated the challenges and risks involved in proposed spin-off, says source

Bloomberg: Ping An Rejects HSBC’s Defense Against Spinoff

FT: Ping An doubles down on campaign to break up HSBC

August 11, 2022

To be continued…

On Wednesday, the People’s Liberation Army’s (PLA) Eastern Theater Command announced that it had finished its live fire exercises near Taiwan. Some context: Last week, US Speaker of the House Nancy Pelosi visited Taiwan, prompting Beijing to launch massive military drills around …

On Wednesday, the People's Liberation Army's (PLA) Eastern Theater Command announced that it had finished its live fire exercises near Taiwan.
Some context: Last week, US Speaker of the House Nancy Pelosi visited Taiwan, prompting Beijing to launch massive military drills around ...

sources

PLA Eastern Theater Command's Weibo: 东部战区在台岛周边海空域组织的联合军事行动成功完成各项任务

Reuters: China military says tasks in Taiwan strait completed, troops to stay battle-ready

NYT: U.S. Insists It Will Operate Around Taiwan, Despite China’s Pressure

August 11, 2022

Twenty three piløts announce national tour

On Wednesday, nine ministries unveiled the 23 locations that will conduct climate investment and financing pilots, to help drive China towards its goals of peaking emissions and achieving carbon neutrality. The backers include all your favorite big hitters: The National Development and Reform Commis…

On Wednesday, nine ministries unveiled the 23 locations that will conduct climate investment and financing pilots, to help drive China towards its goals of peaking emissions and achieving carbon neutrality.
The backers include all your favorite big hitters: The National Development and Reform Commis...

sources

MEE: 关于公布气候投融资试点名单的通知

August 11, 2022

The trade ties that bind

On Tuesday, China’s ambassador to the US, Qin Gang, gave a keynote speech at the US-China Business Forum. Qin said that, despite the challenge of COVID, the Chinese market will become ever more welcoming to foreign investors (Chinese Embassy in the US): “China is opening wider, encouraging consumpt…

On Tuesday, China’s ambassador to the US, Qin Gang, gave a keynote speech at the US-China Business Forum.
Qin said that, despite the challenge of COVID, the Chinese market will become ever more welcoming to foreign investors (Chinese Embassy in the US):

“China is opening wider, encouraging consumpt...

sources

Chinese Embassy in the United States: Keynote Remarks by Ambassador Qin Gang At the Fourth U.S.-China Business Forum

August 11, 2022

To get fat is glorious

Get ready for fatter, faster-growing birds and beasts. On Tuesday, the Ministry of Agriculture and Rural Affairs released a list of 86 livestock and poultry breeding companies that will enjoy targeted support as Beijing pushes to upgrade homegrown livestock genetics. Some context: To meet China’s hu…

Get ready for fatter, faster-growing birds and beasts.
On Tuesday, the Ministry of Agriculture and Rural Affairs released a list of 86 livestock and poultry breeding companies that will enjoy targeted support as Beijing pushes to upgrade homegrown livestock genetics.
Some context: To meet China's hu...

sources

The Paper: 国家畜禽种业企业阵型正式发布，助力民族种业振兴

August 11, 2022

The doctor is… out?

On Tuesday, regulators barred Tencent-backed e-health platform Dingxiang Yuan (DXY) from posting on social media. Some Background: DXY is a major online telemedicine portal and a community for healthcare professionals. It now has over 30 million followers. It’s gained a reputation fo…

On Tuesday, regulators barred Tencent-backed e-health platform Dingxiang Yuan (DXY) from posting on social media.
Some Background: DXY is a major online telemedicine portal and a community for healthcare professionals.

It now has over 30 million followers.
It’s gained a reputation fo...

sources

Nikkei: China suspends major platform that doubted Beijing COVID policies

Baike: 中华人民共和国中医药法

163.com: 不要吃连花清瘟预防新冠

Bloomberg: Tencent-backed China health information unicorn blocked online

August 11, 2022

More stimulus is coming

Beijing’s got a plan to sustain its fiscal firepower in Q4 2022. Hang on a sec: Don’t we keep saying that Beijing won’t dial up its stimulus efforts? Well, while the government does not intend to over-stimulate the economy, officials still need to add some level of new funding to avoid a fiscal clif…

Beijing’s got a plan to sustain its fiscal firepower in Q4 2022.
Hang on a sec: Don’t we keep saying that Beijing won’t dial up its stimulus efforts?
Well, while the government does not intend to over-stimulate the economy, officials still need to add some level of new funding to avoid a fiscal clif...

sources

Gov.cn: 中共中央政治局召开会议习近平主持会议

MoF: , 2022年6月地方政府债券发行和债务余额情况

August 11, 2022

A hard no

On Wednesday, FT reported that Taiwanese national security officials are looking to force Foxconn to divest its stake in Chinese semiconductor conglomerate Tsinghua Unigroup. The concern: The tie-up might give Beijing leverage to put pressure on Taiwan. Some context: Last month, Ts…

On Wednesday, FT reported that Taiwanese national security officials are looking to force Foxconn to divest its stake in Chinese semiconductor conglomerate Tsinghua Unigroup.
The concern: The tie-up might give Beijing leverage to put pressure on Taiwan.
Some context: Last month, Ts...

sources

FT: Taiwan security officials want Foxconn to drop stake in Chinese chipmaker

August 11, 2022

The sound of silence

Well, that’s new. Broadcast platform Huya has developed a new AI tool that censors livestream audio in real-time. Background: Censorship over livestreamers — and all social media — has progressively tightened in recent years as China’s cyberspace watchdog has pressured platforms to ensure users don’…

Well, that's new.
Broadcast platform Huya has developed a new AI tool that censors livestream audio in real-time.
Background: Censorship over livestreamers — and all social media — has progressively tightened in recent years as China's cyberspace watchdog has pressured platforms to ensure users don'...

sources

Xinhua: 虎牙持续创新AI安全应用行业首创直播实时消音系统

August 11, 2022

Too low, too long

The central bank (PBoC) should be wary of allowing interbank borrowing rates to stay too low for too long. That’s according to Sheng Songcheng, the PBoC’s former head of statistics and analysis, in an interview published Wednesday by Bloomberg. ICYDK: Since April, the interest rate on 7-day collater…

The central bank (PBoC) should be wary of allowing interbank borrowing rates to stay too low for too long.
That’s according to Sheng Songcheng, the PBoC’s former head of statistics and analysis, in an interview published Wednesday by Bloomberg.
ICYDK: Since April, the interest rate on 7-day collater...

sources

Bloomberg: Ex-PBOC Official Warns of Interbank Rates Being Low for Too Long

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