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Macro

August 9, 2022

Once more with feeling

The drills start comin’ and they don’t stop comin’. On Monday, the People’s Liberation Army (PLA) announced that it would continue military exercises around Taiwan. Last time, on Total Drama Island: US Speaker of the House Nancy Pelosi landed in Taipei on 2 August, defying Beijing’s strenuous object… Username Password Remember Me Forgot… Read More »

The drills start comin’ and they don’t stop comin’.
On Monday, the People’s Liberation Army (PLA) announced that it would continue military exercises around Taiwan.
Last time, on Total Drama Island: US Speaker of the House Nancy Pelosi landed in Taipei on 2 August, defying Beijing’s strenuous object...

sources

CGTN: PLA Eastern Theater Command continues drill around Taiwan

SCMP: Huge PLA drills around Taiwan really a message to US and allies, Chinese analysts say

Washington Post: China expands military drills, escalates threats against Taiwan

August 9, 2022

Nokia and Oppo go to the mat

On Monday, media reported that Chinese cell-phone maker Oppo is halting sales of mobile devices in Germany. Oppo has yet to offer an official statement, and it’s unclear if the withdrawal will be temporary or permanent. Why: OPPO lost another patent infringement brought by Nokia in German courts….

On Monday, media reported that Chinese cell-phone maker Oppo is halting sales of mobile devices in Germany.

Oppo has yet to offer an official statement, and it's unclear if the withdrawal will be temporary or permanent.

Why: OPPO lost another patent infringement brought by Nokia in German courts....

sources

Source: Oppo verlässt deutschen Markt – ohne diese Handys wird das Angebot bald knapp

FOSS Patents: Nokia wins two patent injunctions against OPPO in Munich (on top of two previously-granted Mannheim injunctions): Apple may be next in line

FOSS Patents: SHOCKING: Nokia patents, other lawsuits force OPPO, OnePlus out of German market--first smartphone maker in history to exit major market over patent enforcement

August 9, 2022

With great power comes great responsibility

Senior leaders recently told provincial officials they won’t face penalties for failing to hit their 2022 growth targets. Even still, a majority of China’s 31 provinces are still aiming to hit their targets (SCMP): 16 provinces have recently said that they would still strive to achieve their local …

Senior leaders recently told provincial officials they won’t face penalties for failing to hit their 2022 growth targets.
Even still, a majority of China's 31 provinces are still aiming to hit their targets (SCMP):

16 provinces have recently said that they would still strive to achieve their local ...

sources

Yicai: 经济大省再担重任，稳增长举措有哪些？

SCMP: China GDP: 16 provinces insist economic growth goals are still within reach, but wary analysts wonder how

August 9, 2022

I am (digital) human, hear me roar

So, that happened… On Wednesday, Beijing’s Municipal government released a four-year action plan on developing the “digital human industry.” Say what now? A digital or “virtual human” is a lifelike 3D avatar, usually controlled partially by an AI and sometimes also by a performer. …

So, that happened...
On Wednesday, Beijing’s Municipal government released a four-year action plan on developing the "digital human industry."
Say what now? A digital or “virtual human” is a lifelike 3D avatar, usually controlled partially by an AI and sometimes also by a performer.
...

sources

Beijing.gov: 北京市经济和信息化局关于印发《北京市促进数字人产业创新发展行动计划（2022-2025年）》的通知

Trivium: Local officials announce the establishment of an RMB 10 billion fund to promote investment in the metaverse industry.

Trivium: The A-Soul virtual idol scandal

Xinhua: “虚拟数字人”展露现实价值

Source: 虚拟偶像报告：2021年核心产业规模将达62.2亿元，近3成网民月花费500-1000元

August 9, 2022

As the escrow flies

Haven’t we seen this before? On Tuesday, domestic media reported that local governments have tightened rules for developers’ use of presale funds – as officials scramble to get unfinished housing projects finished. Some context: Presales are a major funding source for China’s developers, whereby hom…

Haven’t we seen this before?
On Tuesday, domestic media reported that local governments have tightened rules for developers' use of presale funds – as officials scramble to get unfinished housing projects finished.
Some context: Presales are a major funding source for China’s developers, whereby hom...

sources

China News: 预售资金监管升级，勒住“烂尾楼”？

Securities Daily: 加强商品房预售资金监管多地新规向烂尾楼说“不”

August 9, 2022

You got a warrant for that?

Another day, another derivative. On Monday, the first batch of derivative warrants (DWs) linked to the MSCI China A 50 Connect Index were issued on the Hong Kong Stock Exchange. ICYDK: DWs are structured financial products that give investors the right to purchase or sell an underlying asset at a sp…

Another day, another derivative.
On Monday, the first batch of derivative warrants (DWs) linked to the MSCI China A 50 Connect Index were issued on the Hong Kong Stock Exchange.
ICYDK: DWs are structured financial products that give investors the right to purchase or sell an underlying asset at a sp...

sources

Caixin: 首批A股结构性产品港交所挂牌｜星港钱潮

PR Newswire: HKEX Welcomes First MSCI China A 50 Connect Index Structured Products

August 9, 2022

Meituan raises bike-sharing prices

On Monday, Chinese media reported that Meituan Bicycle finally announced plans to raise their bike-sharing prices. Background: When bike sharing hit the Chinese market in 2016, companies offered rock-bottom prices to attract customers. The fierce competition led to a vicious price war that saw comp…

On Monday, Chinese media reported that Meituan Bicycle finally announced plans to raise their bike-sharing prices.
Background: When bike sharing hit the Chinese market in 2016, companies offered rock-bottom prices to attract customers.

The fierce competition led to a vicious price war that saw comp...

sources

Sina: 美团单车官宣涨价共享经济无序竞争将画上句号

August 9, 2022

Pushing on a string

China’s central bank (PBoC) has been promising to “maintain reasonable and sufficient liquidity.” But it may have overshot. Interbank lending rates have been low for some time, and they’re getting lower. Since April, the interest rate on 7-day collateralized repos between banks (DR007) has genera…

China’s central bank (PBoC) has been promising to “maintain reasonable and sufficient liquidity.”

But it may have overshot.

Interbank lending rates have been low for some time, and they’re getting lower.

Since April, the interest rate on 7-day collateralized repos between banks (DR007) has genera...

sources

The Paper: 观察｜银行间质押式回购成交金额攀升，债市加杠杆情绪持续火热

21st Century Biz: 补充流动性“保交楼” 绿地控股获国资股东30亿元贷款

August 9, 2022

The grass isn’t always greener

While private-sector developers are bearing most of the brunt of China’s housing market downturn, some state firms are also struggling. But at least they have someone to call for help. On Monday, Caixin reported that Greenland Holdings – a major developer owned by the Shanghai government – has sec…

While private-sector developers are bearing most of the brunt of China's housing market downturn, some state firms are also struggling.

But at least they have someone to call for help.

On Monday, Caixin reported that Greenland Holdings – a major developer owned by the Shanghai government – has sec...

sources

Caixin: 补充流动性“保交楼” 绿地控股获国资股东30亿元贷款

August 9, 2022

India bans cheap Chinese phones

On Monday, Bloomberg reported that the Indian government may be planning to ban Chinese smartphone manufacturers from selling cheap devices in India. Background: Since Chinese and Indian troops clashed on the border in mid-2020, the Indian government has been coming down hard on Chinese smartphone m…

On Monday, Bloomberg reported that the Indian government may be planning to ban Chinese smartphone manufacturers from selling cheap devices in India.
Background: Since Chinese and Indian troops clashed on the border in mid-2020, the Indian government has been coming down hard on Chinese smartphone m...

sources

Bloomberg: India Seeks to Oust China Firms From Sub-$150 Phone Market

Business Standard: 'We had two options: Complex law or start with clean slate': MoS IT

August 9, 2022

Post no evil

Sisyphus is recruiting some friends. Yesterday, Weibo joined state media outlet The Paper and leading Chinese academics to announce a joint new institute designed to improve digital censorship. Seriously? Well, they didn’t exactly say “digital censorship.” Officially it is a “Digital Content Ecosyst…

Sisyphus is recruiting some friends.
Yesterday, Weibo joined state media outlet The Paper and leading Chinese academics to announce a joint new institute designed to improve digital censorship.
Seriously? Well, they didn't exactly say "digital censorship." Officially it is a "Digital Content Ecosyst...

sources

The Paper: “数字内容生态实验室”成立，由澎湃新闻等六家机构共建

August 9, 2022

MoT drafts stopgap regs for autonomous vehicle services

On Monday, the Ministry of Transport (MoT) published draft trial guidelines for autonomous vehicle (AV) services. Context: As AV pilots mushroom across China, an increasing number of logistics and passenger transport companies are employing autonomous vehicles in their operations. That includes dri…

On Monday, the Ministry of Transport (MoT) published draft trial guidelines for autonomous vehicle (AV) services.
Context: As AV pilots mushroom across China, an increasing number of logistics and passenger transport companies are employing autonomous vehicles in their operations.

That includes dri...

sources

MoT: 关于《自动驾驶汽车运输安全服务指南（试行）》（征求意见稿）公开征求意见的通知

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