string(13) "markets-macro"

Macro

July 28, 2022

Curb your enthusiasm

China’s economic stimulus is finally here. But how effective will it be? By our estimate, China’s authorities are deploying between RMB 2.85-3.05 trillion over the coming months. That includes: RMB 1.75 trillion from special purpose bonds (SPBs) issued since the start of May RMB 200 billion from SP… Username Password Remember Me Forgot… Read More »

China’s economic stimulus is finally here. But how effective will it be?
By our estimate, China’s authorities are deploying between RMB 2.85-3.05 trillion over the coming months. That includes:

RMB 1.75 trillion from special purpose bonds (SPBs) issued since the start of May
RMB 200 billion from SP...

July 28, 2022

Guizhou goes data build crazy!

Last Friday, the Guizhou provincial government published new regulations to speed up the Guizhou hub for the Eastern Data, Western Computing (EDWC) project. Quick background: First piloted in 2020, EDWC aims to take data generated by the bustling digital economy of China’s eastern provinces, and shi…

Last Friday, the Guizhou provincial government published new regulations to speed up the Guizhou hub for the Eastern Data, Western Computing (EDWC) project.
Quick background: First piloted in 2020, EDWC aims to take data generated by the bustling digital economy of China’s eastern provinces, and shi...

sources

Guizhou.gov: 省人民政府办公厅关于加快推进“东数西算” 工程建设全国一体化算力网络国家 (贵州)枢纽节点的实施意见

July 28, 2022

BananaStore

On Wednesday, several Chinese media outlets reported that Apple’s mainland China app store had many apps with salacious or even pornographic content. Some context: Chinese app developers have a history of using misleading app titles, but are obvious to those knowing what they are looking for. …

On Wednesday, several Chinese media outlets reported that Apple’s mainland China app store had many apps with salacious or even pornographic content.
Some context: Chinese app developers have a history of using misleading app titles, but are obvious to those knowing what they are looking for.
...

sources

WeChat: 苹果应用商店被曝多个色情App，被曝光后仍可下载，苹果客服：很震惊

July 28, 2022

Ant sets up consumer protection committee

On Wednesday, Ant released its semi-annual report on consumer protection. What caught our eyes: The board will set up a risk management and consumer protection committee. It promises to help consumers by: Educating users with warnings about scams, gambling schemes, and offering rational …

On Wednesday, Ant released its semi-annual report on consumer protection.
What caught our eyes: The board will set up a risk management and consumer protection committee. It promises to help consumers by:

Educating users with warnings about scams, gambling schemes, and offering rational ...

sources

Caixin: 蚂蚁董事会增设风险管理与消费者权益保障委员会

July 28, 2022

US plays hard ball on audit dispute

US regulators aren’t giving an inch. On Tuesday, Reuters reported that US audit regulator (PCAOB) won’t accept any restrictions on its access to the audit papers of US-listed Chinese companies. Recap: Chinese and US regulators are attempting to resolve a longstanding dispute over Beijing’s refusal t…

US regulators aren’t giving an inch.
On Tuesday, Reuters reported that US audit regulator (PCAOB) won’t accept any restrictions on its access to the audit papers of US-listed Chinese companies.
Recap: Chinese and US regulators are attempting to resolve a longstanding dispute over Beijing’s refusal t...

sources

Reuters: U.S. regulators won't accept any restrictions on China audit access, sources say

July 28, 2022

OS research ‘with Chinese characteristics’

On Tuesday, the Ministry of Industry and Information Technology (MIIT) held a conference developing homegrown open source software systems. This isn’t just about operating systems like Android or Huawei’s Harmony. The MIIT means all the open source software that powers huge swathes of the economy. …

On Tuesday, the Ministry of Industry and Information Technology (MIIT) held a conference developing homegrown open source software systems.

This isn’t just about operating systems like Android or Huawei’s Harmony.
The MIIT means all the open source software that powers huge swathes of the economy.
...

sources

MIIT: 工信部组织开展中国特色开源体系建设主题调研

SCMP: China questions the safety of open source code amid sanctions and tech dependency risks, but can it build a viable alternative?

Bloomberg: China Orders Government, State Firms to Dump Foreign PCs

July 28, 2022

Henan proposes censorship fines

On Wednesday, the Henan People’s Congress announced new draft provincial cybersecurity regulations. In summary: It’s a localized version of China’s cybersecurity watchdog’s (CAC) draft Network Data Security Management Regulations, released last November and expected to be finalized this year. What c…

On Wednesday, the Henan People’s Congress announced new draft provincial cybersecurity regulations.
In summary: It's a localized version of China's cybersecurity watchdog's (CAC) draft Network Data Security Management Regulations, released last November and expected to be finalized this year.
What c...

sources

Henan.gov: 注重个人信息保护将网安人才纳入人才体系《河南省网络安全条例（草案）》提请审议

The Paper: 河南将为网络安全立法：个人发布违法信息最高罚十万

July 27, 2022

(Re)building consensus

On Tuesday, Wang Yang, the head of China’s top political advisory body, presided over a symposium marking the 30th anniversary of the 1992 Consensus. No, it’s not that time everyone agreed that JNCO Jeans were super rad: The 1992 Consensus is the agreement reached between Taiwan and the mainland af…

On Tuesday, Wang Yang, the head of China’s top political advisory body, presided over a symposium marking the 30th anniversary of the 1992 Consensus.
No, it’s not that time everyone agreed that JNCO Jeans were super rad:

The 1992 Consensus is the agreement reached between Taiwan and the mainland af...

sources

CGTN: Top political advisor stresses upholding 1992 Consensus, working toward reunification of motherland

July 27, 2022

A rave review

Pop quiz: What’s Xi Jinping’s top priority? Agriculture, rural development, and farmers – the “three rural issues” – according to the big man himself. Some context: In June, the Party published a collection of Xi’s speeches and writings on rural issues in book form. We didn’t get too excited, si…

Pop quiz: What's Xi Jinping's top priority?

Agriculture, rural development, and farmers – the "three rural issues" – according to the big man himself.

Some context: In June, the Party published a collection of Xi's speeches and writings on rural issues in book form.

We didn't get too excited, si...

sources

Gov.cn: 胡春华：以习近平总书记关于“三农”工作的重要论述为指引奋力开创全面推进乡村振兴新局面

July 27, 2022

Guest to impress

On Tuesday, Xi Jinping met with Indonesian President Joko Widodo in Beijing. This is a big deal: The last time heads of state visited China was for February’s Winter Olympics (most notably Russian President Vladimir Putin… shortly before his invasion of Ukraine). ICYMI: In recent weeks, Beijing has …

On Tuesday, Xi Jinping met with Indonesian President Joko Widodo in Beijing.
This is a big deal: The last time heads of state visited China was for February's Winter Olympics (most notably Russian President Vladimir Putin… shortly before his invasion of Ukraine).
ICYMI: In recent weeks, Beijing has ...

sources

MoFA: President Xi Jinping Holds Talks with Indonesian President Joko Widodo

SCMP: Widodo’s ‘balancing act’ meeting Xi in Beijing ahead of G20

July 27, 2022

A band-aid for the tourist industry

On Monday, the central bank (PBoC) and the culture and tourism ministry (MoCT) jointly published a suite of measures to support the tourism industry. ICYMI: Tourism has been in the doldrums since March due to COVID curbs and (a closely related) cratering economy. In H1 2022, domestic tourism revenu…

On Monday, the central bank (PBoC) and the culture and tourism ministry (MoCT) jointly published a suite of measures to support the tourism industry.
ICYMI: Tourism has been in the doldrums since March due to COVID curbs and (a closely related) cratering economy.

In H1 2022, domestic tourism revenu...

sources

PBoC: 人民银行文化和旅游部印发《关于金融支持文化和旅游行业恢复发展的通知》

China News: 文旅部：2022年上半年国内旅游总人次14.55亿

July 27, 2022

Off with their heads

Heads are finally rolling at China Evergrande Group. On Friday, the developer disclosed that its board has asked the company’s CEO and CFO to resign. The reason: Their involvement in opaque dealings that resulted in banks freezing RMB 13.4 billion in deposits held by an Evergrande subsidiary. Some c…

Heads are finally rolling at China Evergrande Group.
On Friday, the developer disclosed that its board has asked the company’s CEO and CFO to resign.
The reason: Their involvement in opaque dealings that resulted in banks freezing RMB 13.4 billion in deposits held by an Evergrande subsidiary.
Some c...

sources

HKEX: Inside Information Preliminary Findings Of The Independent Investigation On Evergrande Property Services

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