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Macro

July 29, 2022

Flash talk | July Politburo meeting was a dud

In this flash talk, Trivium Partner and Co-founder Andrew Polk examines the July 28 Politburo meeting, and what it signals for economic recovery and zero-COVID policy in H2. Spoiler alert: Those hoping for substantial changes in the economic policy trajectory will be disappointed. Time: 13 mins. … Username Password Remember Me Forgot Password

In this flash talk, Trivium Partner and Co-founder Andrew Polk examines the July 28 Politburo meeting, and what it signals for economic recovery and zero-COVID policy in H2.
Spoiler alert: Those hoping for substantial changes in the economic policy trajectory will be disappointed.

Time: 13 mins.
...

July 29, 2022

Xiao Yaqing goes down

Say it ain’t so! On Thursday, Chinese state media reported that the head of the Ministry of Industry and Information Technology (MIIT), Xiao Yaqing, is under investigation for corruption. It’s almost inevitable that he’ll soon be found guilty and removed from all his posts. This is big stuff. MIIT…

Say it ain't so!
On Thursday, Chinese state media reported that the head of the Ministry of Industry and Information Technology (MIIT), Xiao Yaqing, is under investigation for corruption.

It's almost inevitable that he’ll soon be found guilty and removed from all his posts.

This is big stuff. MIIT...

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

Missteps for Missfresh

On July 27th, food delivery startup Missfresh revealed it could not make June and July salary payments, leading to employee protests. Some Background: At its peak, Missfresh was emblematic of China’s tech sector rise, attracting more than USD 1 billion in investments from Tiger Global and Tencent. …

On July 27th, food delivery startup Missfresh revealed it could not make June and July salary payments, leading to employee protests.
Some Background: At its peak, Missfresh was emblematic of China's tech sector rise, attracting more than USD 1 billion in investments from Tiger Global and Tencent. ...

sources

Sina: 每日优鲜回应“解散”：由于业务调整部分员工离职

Financial Times: Tiger Global-backed Missfresh stops paying salaries as it runs out of cash

July 28, 2022

Prepping for the Party congress

On Tuesday, Xi Jinping gathered the most senior Party and state officials for a two-day study session to discuss the upcoming Party congress, expected in the fall but still without a confirmed date. This was a seriously big deal: Everyone who’s anyone was there – Politburo members, ministers, and mi…

On Tuesday, Xi Jinping gathered the most senior Party and state officials for a two-day study session to discuss the upcoming Party congress, expected in the fall but still without a confirmed date.
This was a seriously big deal: Everyone who’s anyone was there – Politburo members, ministers, and mi...

sources

Xinhua: 习近平在省部级主要领导干部“学习习近平总书记重要讲话精神，迎接党的二十大”专题研讨班上发表重要讲话强调高举中国特色社会主义伟大旗帜奋力谱写全面建设社会主义现代化国家崭新篇章

July 28, 2022

Bridge over muddled water

If you think Premier Li Keqiang passes up PR opportunities, then we’ve got a bridge in Croatia to sell you. On Tuesday, Li gave a speech by videolink to mark the opening of the Chinese-built Pelješac Bridge in Croatia. Geography lesson: Anyone driving from Croatia’s north to the southeast previously…

If you think Premier Li Keqiang passes up PR opportunities, then we’ve got a bridge in Croatia to sell you.
On Tuesday, Li gave a speech by videolink to mark the opening of the Chinese-built Pelješac Bridge in Croatia.
Geography lesson: Anyone driving from Croatia's north to the southeast previously...

sources

Gov.cn: Premier Li says Peljesac Bridge will further boost China-Croatia friendship

July 28, 2022

Can an HIV drug beat COVID?

On Monday, China’s drug regulator (NMPA) conditionally approved a domestically made HIV drug for treating COVID-19 patients. Some context: The drug, Azvudine, produced by Zhengzhou-based Genuine Biotech, was originally approved for treating HIV-1 infections in July 2021. Monday’s approval makes Azv…

On Monday, China's drug regulator (NMPA) conditionally approved a domestically made HIV drug for treating COVID-19 patients.
Some context: The drug, Azvudine, produced by Zhengzhou-based Genuine Biotech, was originally approved for treating HIV-1 infections in July 2021.

Monday's approval makes Azv...

sources

NMPA: 国家药监局应急附条件批准河南真实生物科技有限公司阿兹夫定片增加新冠肺炎治疗适应症注册申请

21st Century Biz: 首个国产新冠口服药获批，国家药监局：加快新冠治疗药物研发上市速度

Caixin Global: Genuine Biotech Reports Unimpressive Results for Covid Pill

NBD: 阿兹夫定成首款获批国产新冠口服药物国内新冠药物研发上市提速

July 28, 2022

Just what the doctor ordered

On Tuesday, the National Healthcare Security Administration and the finance ministry jointly issued opinions on how to better facilitate cross-provincial medical insurance settlement. File this one under “boring but important.” China’s household registration (hukou) system has long made it monument…

China’s household registration (hukou) system has long made it monument...

sources

Gov.cn: 国家医保局财政部关于进一步做好基本医疗保险跨省异地就医直接结算工作的通知

July 28, 2022

Don’t doubt that third term

Rumors about Xi Jinping losing his grip on power have swirled ahead of the 20th Party Congress. But to us, that speculation looks overblown: In July, senior officials including He Lifeng, Wang Yi, and Hu Chunhua have all heaped praise on Xi’s ideology. Still hungry for evidence? Check out Ch…

Rumors about Xi Jinping losing his grip on power have swirled ahead of the 20th Party Congress.
But to us, that speculation looks overblown:

In July, senior officials including He Lifeng, Wang Yi, and Hu Chunhua have all heaped praise on Xi’s ideology.

Still hungry for evidence? Check out Ch...

sources

CPC People: 把捍卫“两个确立”做到“两个维护”作为政法战线政治建设的根本要求

July 28, 2022

I’ve got the power

On Wednesday, China’s National Energy Administration (NEA) held a presser reassuring everyone that power supplies are stable – and industrial producers shouldn’t see sudden power shutoffs. That’s a big change of tune from the last several months of “sky is falling” commentary from Beijing, relentles…

On Wednesday, China's National Energy Administration (NEA) held a presser reassuring everyone that power supplies are stable – and industrial producers shouldn't see sudden power shutoffs.
That's a big change of tune from the last several months of "sky is falling" commentary from Beijing, relentles...

sources

SCIO: 国新办举行“加快建设能源强国全力保障能源安全”新闻发布会图文实录

July 28, 2022

Church and state

Alibaba is trying to distance itself from its fintech arm, Ant Group. On Tuesday, Ali said that Ant Group’s execs have stepped down from the Alibaba Partnership, Alibaba’s core decision-making body (Caixin). The seven departing Ant execs include: Chairman and CEO Eric Jing CTO Ni …

Alibaba is trying to distance itself from its fintech arm, Ant Group.
On Tuesday, Ali said that Ant Group’s execs have stepped down from the Alibaba Partnership, Alibaba’s core decision-making body (Caixin).
The seven departing Ant execs include:

Chairman and CEO Eric Jing
CTO Ni ...

sources

Caixin: 蚂蚁集团加速与主要股东隔离管理层不再任阿里巴巴合伙人

July 28, 2022

The Alpine pipeline

With US equity exchanges all but blocked as a fundraising option, Chinese companies are finding new ways to raise cash abroad. Over the past week, three mainland-listed firms – with another on the way – have sold shares on Zurich’s Swiss SIX Exchange. ICYMI: Last week, we flagged growing interest on…

With US equity exchanges all but blocked as a fundraising option, Chinese companies are finding new ways to raise cash abroad.
Over the past week, three mainland-listed firms – with another on the way – have sold shares on Zurich’s Swiss SIX Exchange.
ICYMI: Last week, we flagged growing interest on...

sources

Bloomberg: China’s Gotion High-Tech Raises $685 Million in Zurich GDR Sale, Sources Say

Businesswire: GEM, a Leading Green Enterprise in China, will land on the Swiss Exchange

July 28, 2022

It’s a pig eat pig world

Over the weekend, a worker leaked video of starving pigs eating each other at a Jiangxi farm operated by a subsidiary of Zhengbang Group – one of China’s leading farming companies. It went massively viral across Chinese social media. By Monday, Zhengbang was forced to respond, issuing a statement…

Over the weekend, a worker leaked video of starving pigs eating each other at a Jiangxi farm operated by a subsidiary of Zhengbang Group – one of China's leading farming companies.

It went massively viral across Chinese social media.

By Monday, Zhengbang was forced to respond, issuing a statement...

sources

Caixin: 正邦科技回应饲料断供致“猪吃猪” 财务危机何解？

Shenzhen Stock Exchange: 正邦科技关于媒体报道的情况说明

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