string(13) "markets-macro"

Macro

July 13, 2022

Digital empire-building

On Tuesday, China’s World Internet Conference (WIC) officially established a new body dedicated to promoting China’s vision of internet governance abroad. Confusingly, the body is called the “WIC International Organization.” Lest you think this doesn’t matter: Xi Jinping himself sent a widely publ… Username Password Remember Me Forgot Password

On Tuesday, China’s World Internet Conference (WIC) officially established a new body dedicated to promoting China's vision of internet governance abroad.

Confusingly, the body is called the “WIC International Organization.”

Lest you think this doesn't matter: Xi Jinping himself sent a widely publ...

sources

World Internet Conference: 世界互联网大会成立大会今日在京举行

July 13, 2022

NPPA snubs big gaming again

On Tuesday, China’s gaming watchdog (NPPA) released the third batch of online game title approvals since lifting an eight-month game freeze in April. But China’s two biggest gaming companies, Tencent and Netease, didn’t make it to the list, once again. Some context: The freeze was inte…

On Tuesday, China’s gaming watchdog (NPPA) released the third batch of online game title approvals since lifting an eight-month game freeze in April.

But China’s two biggest gaming companies, Tencent and Netease, didn’t make it to the list, once again.

Some context: The freeze was inte...

sources

Caixin: 7月游戏版号发放 B站以及腾讯被投公司产品在列

NPPA: 2022年7月份国产网络游戏审批信息

Zaobao: 腾讯限制未成年人暑假登录游戏时间

July 13, 2022

CAICT plans for the digital economy

On Friday, state-affiliated think-tank CAICT released a new type of report on China’s digital economy. And it’s a pretty interesting read for econ nerds. This is CAICT’s first-ever report focusing on: “The [financial] relationship between the ICT industry and traditional industries.” In ot…

On Friday, state-affiliated think-tank CAICT released a new type of report on China's digital economy.

And it's a pretty interesting read for econ nerds.

This is CAICT's first-ever report focusing on:

"The [financial] relationship between the ICT industry and traditional industries."

In ot...

sources

CAICT: 中国数字经济发展报告（2022年）

July 12, 2022

Steel yourself for tough times

China’s drowning in steel. On Friday, the China Iron and Steel Association (CISA) convened for a Q2 industry review. Its findings were worrying to say the least: Steel demand is low, both domestically and globally. Inventories are too high – and rising. Steelmakers are losing money. Some context: …

China's drowning in steel.
On Friday, the China Iron and Steel Association (CISA) convened for a Q2 industry review. Its findings were worrying to say the least:

Steel demand is low, both domestically and globally.
Inventories are too high – and rising.
Steelmakers are losing money.

Some context: ...

sources

21st Century Biz: 中钢协：近两月钢铁生产显著超出市场需求，供给侧需合理调整

Mysteel: 本周钢材社会库存减少40.56万吨（7月1日-7月7日）

Xiben: [库存看市场]库存逐步消化，钢价低位运行

CNBC: China’s steel mill owners are in a bad mood as demand takes a hit

July 12, 2022

Mo’ money, mo’ manufacturing

On Monday, the banking regulator (CBIRC) dropped a notice calling for increased support for manufacturing. Some context: In the 2022 Government Work Report, released in March, the State Council pledged to: “[E]ncourage financial institutions to increase medium- and long-term lending to the manufact…

“[E]ncourage financial institutions to increase medium- and long-term lending to the manufact...

sources

CBIRC: 中国银保监会办公厅关于进一步推动金融服务制造业高质量发展的通知

CBIRC: 中国银保监会发布《关于进一步推动金融服务制造业高质量发展的通知》

July 12, 2022

Home is where the heart is

China’s iron and steel sector is struggling amid slack demand, sky-high costs, and well documented overcapacity. That’s why we took note when Caixin published a longread on the China Iron and Steel Association (CISA) Cornerstone Plan on Monday. ICYDK: The Cornerstone Plan is CISA’s strategy to wean …

China's iron and steel sector is struggling amid slack demand, sky-high costs, and well documented overcapacity.
That's why we took note when Caixin published a longread on the China Iron and Steel Association (CISA) Cornerstone Plan on Monday.
ICYDK: The Cornerstone Plan is CISA's strategy to wean ...

sources

Caixin: 最新财新周刊｜“基石计划”在路上

July 12, 2022

Giving credit where credit’s due

China’s central bank released the credit data for June on Monday. And the numbers raised some billion dollar questions: Can the increase in medium- and long-term corporate loans be sustained? Are these loans part of Beijing’s infrastructure stimulus, or do they represent a recovery in broader corpo…

China’s central bank released the credit data for June on Monday.
And the numbers raised some billion dollar questions:

Can the increase in medium- and long-term corporate loans be sustained?
Are these loans part of Beijing’s infrastructure stimulus, or do they represent a recovery in broader corpo...

sources

PBoC: 2022年6月社会融资规模存量统计数据报告

Bloomberg: China’s Credit Flow Jumps as Government Boosts Economic Stimulus

July 12, 2022

New data rules may trip up MNCs

A major piece of China’s data security puzzle has fallen into place. On July 7, China’s internet regulator (CAC) published the Data Export Security Assessment Measures. These are the procedures for getting approval to send data out of China. Quick recap: The Cybersecurity Law (CSL) in 2017 stipula…

A major piece of China's data security puzzle has fallen into place.
On July 7, China’s internet regulator (CAC) published the Data Export Security Assessment Measures.

These are the procedures for getting approval to send data out of China.

Quick recap: The Cybersecurity Law (CSL) in 2017 stipula...

sources

CAC: 数据出境安全评估办法

July 12, 2022

Running out of options

On Monday, Caixin corrected the record. Running counter to a July 7 Bloomberg report, Caixin reported that: It’s unlikely that the central government will allow local governments to start selling SPBs allocated for 2023 in 2022. That’s because: The authorization from the permanent body of the nat…

On Monday, Caixin corrected the record.
Running counter to a July 7 Bloomberg report, Caixin reported that:

It’s unlikely that the central government will allow local governments to start selling SPBs allocated for 2023 in 2022.

That's because:

The authorization from the permanent body of the nat...

sources

Caixin: 最新财新周刊｜解析3000亿元金融债

July 12, 2022

Don’t goof up, comrade

There are lives, livelihoods, and the Party Congress on the line. On Monday, Premier Li Keqiang demanded greater vigilance to ensure workplace safety via instructions to a national meeting on work safety. He started by recognizing the problem: “[In 2022,] there have been many accidents in some reg…

There are lives, livelihoods, and the Party Congress on the line.
On Monday, Premier Li Keqiang demanded greater vigilance to ensure workplace safety via instructions to a national meeting on work safety.
He started by recognizing the problem:

"[In 2022,] there have been many accidents in some reg...

sources

People.cn: 层层压紧压实安全生产责任和措施坚决防范遏制重特大事故发生

July 12, 2022

Zhejiang releases standards for antitrust compliance

Last Tuesday, the Zhejiang branch of China’s antitrust regulator (SAMR) released standards designed to help internet companies implement antitrust compliance procedures. Recap: In late June, Zhejiang announced it would pilot a suite of new antitrust enforcement tools, aimed at reigning in anti-compe…

Last Tuesday, the Zhejiang branch of China’s antitrust regulator (SAMR) released standards designed to help internet companies implement antitrust compliance procedures.
Recap: In late June, Zhejiang announced it would pilot a suite of new antitrust enforcement tools, aimed at reigning in anti-compe...

sources

Zhejiang SAMR: 浙江省市场监督管理局批准发布《互联网平台企业竞争合规管理规范》省级地方标准

July 12, 2022

Whistblowing regs for the telecoms industry

On Friday, the Ministry of Industry and Information Technology (MIIT) announced draft regulations to manage whistleblowing in the telecoms industry. Background: China has a veritable plague of telecom fraud, much of it driven by data leaks from crooked company insiders with access to personal info. …

On Friday, the Ministry of Industry and Information Technology (MIIT) announced draft regulations to manage whistleblowing in the telecoms industry.
Background: China has a veritable plague of telecom fraud, much of it driven by data leaks from crooked company insiders with access to personal info. ...

sources

MIIT: 公开征求对《电信领域违法行为举报处理规定（征求意见稿）》的意见

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