string(13) "markets-macro"

Macro

July 29, 2022

Politburo abandons the GDP growth target

It’s finally happened, as we predicted. The Politburo has walked back this year’s GDP growth target of “around 5.5%” Where and when: On Thursday, in Beijing, Politburo held its quarterly meeting on the economy. This gathering of the Party’s most powerful members gave the most explicit acknow… Username Password Remember Me Forgot Password

It's finally happened, as we predicted.

The Politburo has walked back this year’s GDP growth target of “around 5.5%”

Where and when: On Thursday, in Beijing, Politburo held its quarterly meeting on the economy.
This gathering of the Party's most powerful members gave the most explicit acknow...

sources

Xinhua: 中共中央政治局召开会议分析研究当前经济形势和经济工作审议《关于十九届中央第九轮巡视情况的综合报告》中共中央总书记习近平主持会议

July 29, 2022

So we meet again…

On Thursday, Xi Jinping held a long-awaited call with US President Joe Biden. Some context: Lasting nearly two-and-a-half hours, the call was their first since this March. More context: Tensions between Washington and Beijing are soaring over a possible visit to Taiwan by US Speaker of the House Nan…

On Thursday, Xi Jinping held a long-awaited call with US President Joe Biden.
Some context: Lasting nearly two-and-a-half hours, the call was their first since this March.
More context: Tensions between Washington and Beijing are soaring over a possible visit to Taiwan by US Speaker of the House Nan...

sources

White House: Readout of President Biden’s Call with President Xi Jinping of the People’s Republic of China

White House: Background Press Call on President Biden’s Call with President Xi Jinping of the People’s Republic of China

MoFA: President Xi Jinping Speaks with US President Joe Biden on the Phone

July 29, 2022

A big chip goes down

Another top officials has been taken down in Xi Jinping’s anti-corruption drive. On Thursday, Chinese state media reported that the head of the Ministry of Industry and Information Technology (MIIT), Xiao Yaqing, has been placed under investigation for corruption. This is big stuff. MIIT is a the mi…

Another top officials has been taken down in Xi Jinping's anti-corruption drive.
On Thursday, Chinese state media reported that the head of the Ministry of Industry and Information Technology (MIIT), Xiao Yaqing, has been placed under investigation for corruption.
This is big stuff. MIIT is a the mi...

sources

Reuters: Chief of China's industry ministry faces discipline probe

China Economic Weekly: 快讯！工信部部长肖亚庆被查，涉嫌违纪违法

Caixin Global: Head of China’s Biggest Chip Investment Fund Under Probe

July 29, 2022

The silver bullet?

The central government is moving fast to address a growing wave of mortgage boycotts across the country. On Thursday, the FT reported that the State Council has approved a plan that could potentially mobilize RMB 1 trillion to complete stalled housing developments. Citing unnamed sources, the FT sai…

The central government is moving fast to address a growing wave of mortgage boycotts across the country.
On Thursday, the FT reported that the State Council has approved a plan that could potentially mobilize RMB 1 trillion to complete stalled housing developments.
Citing unnamed sources, the FT sai...

sources

FT: China’s central bank seeks to mobilise $148bn bailout for real estate projects

July 29, 2022

Preparing for low tide

Financial regulators are bracing themselves for a difficult second half. On Monday, the banking regulator (CBIRC) held its mid-year work symposium to discuss key tasks for the rest of 2022. In a readout of the meeting published Thursday, CBIRC promised to: “Make every effort to promote the recover…

Financial regulators are bracing themselves for a difficult second half.
On Monday, the banking regulator (CBIRC) held its mid-year work symposium to discuss key tasks for the rest of 2022.
In a readout of the meeting published Thursday, CBIRC promised to:

“Make every effort to promote the recover...

sources

CBIRC: 银保监会召开全系统2022年年中工作座谈会暨纪检监察工作座谈会

July 29, 2022

Seeding security

On Thursday, the 2022 China Seed Congress sprouted into life in Sanya, Hainan province. Stifle that yawn: Seeds are an increasingly big deal for Beijing. Xi Jinping grasped their importance back in April: “Only by holding Chinese seeds tightly with our own hands can we stabilize the Chinese rice bo…

“Only by holding Chinese seeds tightly with our own hands can we stabilize the Chinese rice bo...

sources

Global Times: 俄乌冲突后，中国种业加速突破

Economic Daily: 农业农村部：深入实施种业振兴行动

July 29, 2022

Kingsoft Cloud seeks primary listing

On Wednesday, Kingsoft Cloud, a US-listed Chinese cloud computing provider, applied for a primary listing with the Hong Kong Stock Exchange. Sound familiar? Earlier this week, Alibaba also announced plans to convert its secondary listing in Hong Kong to a primary listing status. And they’re not the …

On Wednesday, Kingsoft Cloud, a US-listed Chinese cloud computing provider, applied for a primary listing with the Hong Kong Stock Exchange.
Sound familiar? Earlier this week, Alibaba also announced plans to convert its secondary listing in Hong Kong to a primary listing status.
And they're not the ...

sources

Caixin: 金山云拟赴香港双重主要上市

Caixin: 财新周刊 | 中概股折返跑

July 29, 2022

Banks launch e-CNY prepaid cards

On Thursday, Caixin reported that China’s state-owned banks launched sign-up campaigns for prepaid e-CNY cards at the Digital China Summit. The balance of the prepaid cards can be managed online. ICYDK: The central bank (PBoC) has been developing e-CNY hardware wallets – in the form of prepaid car…

On Thursday, Caixin reported that China’s state-owned banks launched sign-up campaigns for prepaid e-CNY cards at the Digital China Summit.

The balance of the prepaid cards can be managed online.

ICYDK: The central bank (PBoC) has been developing e-CNY hardware wallets – in the form of prepaid car...

sources

Caixin: 多家大行开放个人免费申领数字人民币硬钱包

July 29, 2022

Quick take | Staying the course: The July Politburo meeting

The July Politburo meeting took place on Thursday in China. The headline: The meeting readout is remarkable for its relatively subdued tone – especially in comparison to the more intense rhetoric and concern senior officials had recently shown around the economy (most notably in Li Keqiang’s late Ma…

The July Politburo meeting took place on Thursday in China.
The headline: The meeting readout is remarkable for its relatively subdued tone – especially in comparison to the more intense rhetoric and concern senior officials had recently shown around the economy (most notably in Li Keqiang’s late Ma...

July 29, 2022

Red light… green light!

Yesterday, Xi Jinping chaired a Politburo meeting on H2 economic policy. On the agenda (again): How to regulate the platform economy in the wake of the tech crackdown. The key development: At the meeting, leaders promised to release several examples of “green light” investment. “Green light” refers…

Yesterday, Xi Jinping chaired a Politburo meeting on H2 economic policy.
On the agenda (again): How to regulate the platform economy in the wake of the tech crackdown.
The key development: At the meeting, leaders promised to release several examples of "green light" investment.

“Green light” refers...

sources

news.cn: 中共中央政治局召开会议分析研究当前经济形势和经济工作审议《关于十九届中央第九轮巡视情况的综合报告》中共中央总书记习近平主持会议

July 29, 2022

Jack Ma to relinquish control of Ant

On Thursday, WSJ scooped that Ant founder Jack Ma is looking to cede control of the company. Some context: Ma doesn’t hold an executive position in Ant, but he still has a great deal of influence over the company via a Hangzhou-based fund called Yunbo. According to WSJ, Ma voluntarily came up with …

On Thursday, WSJ scooped that Ant founder Jack Ma is looking to cede control of the company.
Some context: Ma doesn’t hold an executive position in Ant, but he still has a great deal of influence over the company via a Hangzhou-based fund called Yunbo.
According to WSJ, Ma voluntarily came up with ...

sources

WSJ: Jack Ma Plans to Cede Control of Ant Group

July 29, 2022

Meituan and Ele.me called in for food safety

Yesterday, Chinese media reported that the Hangzhou market regulator (SAMR) called food delivery platforms, including Meituan and Ele.me, in for a little chat. The topic: Lax food safety standards at on-platform restaurants. The platforms were called to task over two poor food quality scandals that…

Yesterday, Chinese media reported that the Hangzhou market regulator (SAMR) called food delivery platforms, including Meituan and Ele.me, in for a little chat.
The topic: Lax food safety standards at on-platform restaurants.
The platforms were called to task over two poor food quality scandals that...

sources

The Paper: 杭州市场监管局就低价恶性竞争等问题约谈美团、饿了么平台

Jiemian: 外卖食品安全问题频发，美团、饿了么被市场监管总局约谈

Meituan: 食品安全投诉举报规范

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