string(13) "markets-macro"

Macro

July 21, 2022

A false sense of (energy) security

China keeps adding coal-fired power capacity in the name of energy security. On Wednesday, Greenpeace dropped a report tracking power plant approvals. It found that (SCMP): China approved 8.63 GW of new coal-fired power generation capacity in Q1 2022 – nearly half of the 2021 total! Don’t forget: … Username Password Remember Me … Read More »

China keeps adding coal-fired power capacity in the name of energy security.
On Wednesday, Greenpeace dropped a report tracking power plant approvals. It found that (SCMP):

China approved 8.63 GW of new coal-fired power generation capacity in Q1 2022 – nearly half of the 2021 total!

Don't forget: ...

sources

SCMP: China’s approvals for new coal plants rebound amid renewed focus on energy security after last year’s power crisis: Greenpeace

Bloomberg: China Deepens Its Dependence on Coal by Speeding up Approvals

July 21, 2022

ByteDance poaches chip talent

On Monday, Caixin released an in-depth piece painting a bleak picture of the job market in the internet sector. Some context: Facing tough macro head winds for the last few months, many internet platforms have been aggressively cutting headcounts in unproductive departments. The piece shows how har…

On Monday, Caixin released an in-depth piece painting a bleak picture of the job market in the internet sector.
Some context: Facing tough macro head winds for the last few months, many internet platforms have been aggressively cutting headcounts in unproductive departments.

The piece shows how har...

sources

Sina: 字节开出三倍工资：挖我同事做芯片

Caixin: 财新周刊｜从互联网大厂“毕业”后

July 21, 2022

Beijing begins commercial robotaxi pilot

On Wednesday, Beijing announced that its first commercial unmanned taxi pilot is now kicking off. The pilot will run in the city’s Autonomous Driving Demonstration Zone. To be clear: This isn’t the first driverless taxi Beijing has ever seen. Robotaxis have been offering rides to real passengers i…

On Wednesday, Beijing announced that its first commercial unmanned taxi pilot is now kicking off.

The pilot will run in the city’s Autonomous Driving Demonstration Zone.

To be clear: This isn't the first driverless taxi Beijing has ever seen. Robotaxis have been offering rides to real passengers i...

sources

news.cn: 北京开启无人化出行服务商业化试点

July 21, 2022

Guangdong strengthens auto supply chain

On Tuesday, Guangzhou finalized a new plan to strengthen its automotive supply chain. Some context: Over the past two years, China’s auto industry has been rocked by a series of near-cataclysms, from auto chip shortages, to power shortages, to zero-Covid factory lockdowns. As a major auto produc…

On Tuesday, Guangzhou finalized a new plan to strengthen its automotive supply chain.
Some context: Over the past two years, China's auto industry has been rocked by a series of near-cataclysms, from auto chip shortages, to power shortages, to zero-Covid factory lockdowns.

As a major auto produc...

sources

Guangzhou MIIT: 广州市人民政府关于印发广州市支持汽车及核心零部件产业稳链补链强链若干措施的通知

July 21, 2022

Same as they ever were

It’s that time of the month again. Time for the Ministry of Transport’s official stat dump on the state of the ride-hailing industry. First, the good news: As the last round of Covid lockdowns ease, folks are getting out and about again. Ride-hailing orders in June were up 20.7% over the previo…

It's that time of the month again.

Time for the Ministry of Transport's official stat dump on the state of the ride-hailing industry.

First, the good news: As the last round of Covid lockdowns ease, folks are getting out and about again.

Ride-hailing orders in June were up 20.7% over the previo...

sources

Yicai: 交通运输部：网约车监管信息交互平台6月份订单环比上升20.7%

July 21, 2022

SIC quietly pushes for gov database security

News of the Shanghai Police data breach may be censored in Chinese domestic media… …but we’re pretty sure the hack has sent shockwaves through Chinese government agencies. Recap: On July 4, we told you that a Chinese government database — presumably owned by the Shanghai police — had been lef…

News of the Shanghai Police data breach may be censored in Chinese domestic media...

...but we're pretty sure the hack has sent shockwaves through Chinese government agencies.

Recap: On July 4, we told you that a Chinese government database — presumably owned by the Shanghai police — had been lef...

sources

SIC: 国家电子政务外网管理中心电子认证办公室组织召开部分省市政务外网安全监测年度工作研讨会

July 20, 2022

We’re not gonna take it

Last Friday, Evergrande suppliers signed a joint statement complaining they are owed money from the property giant and will temporarily suspend work and debt payments. They are also asking authorities and banks in Hubei province to intervene. What has them all riled up: Overdue commercial acceptan…

Last Friday, Evergrande suppliers signed a joint statement complaining they are owed money from the property giant and will temporarily suspend work and debt payments.

They are also asking authorities and banks in Hubei province to intervene.

What has them all riled up: Overdue commercial acceptan...

sources

Caixin Global: Suppliers of Delinquent Developers Complain They Can’t Pay Their Bills

Aboluowang: 响应烂尾楼停贷传恒大湖北供应商集体停贷停工

July 20, 2022

Settling for RMB

Everybody chill. On Sunday, BHP delivered a shipment of iron ore to a Shandong port that will be sold in RMB in China’s spot market – a first for the Australian miner (Global Times). There’s been a lot of guff that this is a big step forward for RMB internationalization. It isn’t. Some context: Iron…

Everybody chill.
On Sunday, BHP delivered a shipment of iron ore to a Shandong port that will be sold in RMB in China’s spot market – a first for the Australian miner (Global Times).
There’s been a lot of guff that this is a big step forward for RMB internationalization.
It isn’t.
Some context: Iron...

sources

Global Times: Australian iron ore supplier embraces Chinese market with yuan settlement

July 20, 2022

Who audits the auditors?

In a Tuesday interview with Bloomberg, Gary Gensler, Chair of the US Securities and Exchange Commission (SEC), shared his thoughts on the state of negotiations with Chinese regulators over the US-China auditing impasse. Short version: He’s not particularly optimistic. ICYDK: In 2020, the US Congress…

In a Tuesday interview with Bloomberg, Gary Gensler, Chair of the US Securities and Exchange Commission (SEC), shared his thoughts on the state of negotiations with Chinese regulators over the US-China auditing impasse.
Short version: He’s not particularly optimistic.
ICYDK: In 2020, the US Congress...

sources

Bloomberg: Gensler Says China Needs to Play by the Rules

July 20, 2022

Hedgers, rejoice!

On Monday, the securities regulator (CSRC) approved trading in futures and options based on the China Securities Index (CSI) 1000. Contracts will begin trading on Friday. ICYDK: The CSI 1000 – compiled by the creatively named China Securities Index Company – tracks 1,000 small- to mid-cap companie…

On Monday, the securities regulator (CSRC) approved trading in futures and options based on the China Securities Index (CSI) 1000.

Contracts will begin trading on Friday.

ICYDK: The CSI 1000 – compiled by the creatively named China Securities Index Company – tracks 1,000 small- to mid-cap companie...

sources

CSRC: 证监会批准开展中证1000股指期货和期权交易

Caixin: 中证1000股指期货和期权获批 7月22日登场

Sohu: 中证1000指数衍生品挂牌在即小盘股的春天还远吗

July 20, 2022

Let the growth delusion go

Another prominent policy advisor just declared China’s 5.5% growth target dead. On Saturday, several other advisors acknowledged this unpleasant truth. On Tuesday, Liu Yuanchun, president of Shanghai University of Finance and Economics, offered his estimate of 2022 growth (21st Century Biz): “It …

Another prominent policy advisor just declared China's 5.5% growth target dead.

On Saturday, several other advisors acknowledged this unpleasant truth.

On Tuesday, Liu Yuanchun, president of Shanghai University of Finance and Economics, offered his estimate of 2022 growth (21st Century Biz):

“It ...

sources

21st Century Biz: 专访刘元春：稳增长政策将推动三季度加快反弹，下半年经济增速可能在6%以上

July 20, 2022

(Theoretically) open for business

There’s a difference between opening and being open. On Tuesday, Premier Li Keqiang had a friendly (video)chat with his old buddy, Klaus Schwab, Executive Chairman of the World Economic Forum (WEF). Normally, we love it when Li talks to the WEF people, who run the Davos meetings in Switzerland and t…

There’s a difference between opening and being open.
On Tuesday, Premier Li Keqiang had a friendly (video)chat with his old buddy, Klaus Schwab, Executive Chairman of the World Economic Forum (WEF).
Normally, we love it when Li talks to the WEF people, who run the Davos meetings in Switzerland and t...

sources

Xinhua: Chinese premier meets with executive chairman of WEF

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