string(13) "markets-macro"

Macro

July 11, 2022

Meeting to jaw-jaw

On Saturday, Foreign Minister Wang Yi sat down with US Secretary of State Anthony Blinken on the sidelines of the G20 foreign ministers meeting in Bali, Indonesia. The pair had plenty to talk about. Over five hours, they discussed the burning geopolitical issues of the day, including: Ukraine Taiwa… Username Password Remember Me … Read More »

On Saturday, Foreign Minister Wang Yi sat down with US Secretary of State Anthony Blinken on the sidelines of the G20 foreign ministers meeting in Bali, Indonesia.
The pair had plenty to talk about. Over five hours, they discussed the burning geopolitical issues of the day, including:

Ukraine
Taiwa...

sources

MoFA: Wang Yi Holds Talks with US Secretary of State Antony Blinken

SCMP: China presents US with further demands to improve relations at meeting between Foreign Minister Wang Yi and Secretary of State Antony Blinken

Bloomberg: Blinken-Wang Meeting Begins as US, China Look to Cool Tensions

July 11, 2022

Deep dive | Amending the Anti-Monopoly Law: What it means for M&A in the tech space

It finally happened. On June 24, China’s legislature (NPCSC) passed long-awaited amendments to the Anti-Monopoly Law (AML). The amendments will go into effect on August 1, 2022. Pushing out this highly-anticipated document has been a top-line policy priority for senior leaders. Over the past ye…

It finally happened.
On June 24, China’s legislature (NPCSC) passed long-awaited amendments to the Anti-Monopoly Law (AML).

The amendments will go into effect on August 1, 2022.

Pushing out this highly-anticipated document has been a top-line policy priority for senior leaders.

Over the past ye...

sources

NPC: 全国人民代表大会宪法和法律委员会关于《中华人民共和国反垄断法（修正草案）》审议结果的报告

July 11, 2022

MoT calls in truck hailing platforms

On Friday, the Ministry of Transport (MoT) invited four major truck-hailing platforms in for a friendly chat about their lousy compliance records. The guests were all big names in the freight-hailing business: Full Truck Alliance Huolala Didi Freight GogoX MoT warned the na…

On Friday, the Ministry of Transport (MoT) invited four major truck-hailing platforms in for a friendly chat about their lousy compliance records.
The guests were all big names in the freight-hailing business:

Full Truck Alliance
Huolala
Didi Freight
GogoX

MoT warned the na...

sources

MoT: 交通运输新业态协同监管部际联席会议约谈4家互联网货运平台公司

July 11, 2022

When a fine’s just fine

Is China’s antitrust regulator (SAMR) finally showing some love to Alibaba, Tencent, and other big tech companies? On Sunday, SAMR said it had issued 28 administrative fines to tech firms and internet platforms for violating the Anti-Monopoly Law. So, what’s the beef? Failing to report deals to the…

Is China's antitrust regulator (SAMR) finally showing some love to Alibaba, Tencent, and other big tech companies?
On Sunday, SAMR said it had issued 28 administrative fines to tech firms and internet platforms for violating the Anti-Monopoly Law.
So, what's the beef? Failing to report deals to the...

sources

SAMR: 市场监管总局发布未依法申报违法实施经营者集中案行政处罚决定书

Caixin: 28起并购投资未申报遭罚款腾讯12起、阿里5起

July 11, 2022

Better gig work for the vulnerable

On June 22, the Ministry of Human Resources (MoHRSS) released a policy designed to open up more gig economy jobs for disadvantaged laborers. That means the elderly, the disabled, and workers from low-income families. MoHRSS will lower the barrier to job market entry by providing: Simpler online …

On June 22, the Ministry of Human Resources (MoHRSS) released a policy designed to open up more gig economy jobs for disadvantaged laborers.

That means the elderly, the disabled, and workers from low-income families.

MoHRSS will lower the barrier to job market entry by providing:

Simpler online ...

sources

MoHRSS: 人力资源社会保障部民政部财政部住房城乡建设部国家市场监管总局印发《关于加强零工市场建设完善求职招聘服务的意见》

MoHRSS: 人力资源社会保障部民政部财政部住房和城乡建设部国家市场监管总局关于加强零工市场建设完善求职招聘服务的意见

People.cn: More and more Chinese people opting for gig work

July 11, 2022

Shanghai goes all in on the metaverse

On Friday, the Shanghai government unveiled a three-year plan to support the development of the metaverse industry. Only a visual summary of the policy is available. The numbers: By 2025, Shanghai wants to see: Industries directly related to the metaverse generate RMB 350 billion A RMB 1.5 trill…

On Friday, the Shanghai government unveiled a three-year plan to support the development of the metaverse industry.

Only a visual summary of the policy is available.

The numbers: By 2025, Shanghai wants to see:

Industries directly related to the metaverse generate RMB 350 billion
A RMB 1.5 trill...

sources

Jiemian: 上海将培育3500亿元规模元宇宙赛道，A股元宇宙板块集体拉升

Weibo: Official policy overview graphic

July 11, 2022

Beijing standard time

Last Wednesday, the State Council and 15 agencies announced a big-picture plan to take Chinese standards to the next level. The deets: The plan calls to develop and refine standards across every sector of the economy, from environmental protection to the service industry. The biggest focus: Standard…

Last Wednesday, the State Council and 15 agencies announced a big-picture plan to take Chinese standards to the next level.
The deets: The plan calls to develop and refine standards across every sector of the economy, from environmental protection to the service industry.
The biggest focus: Standard...

sources

Gov.cn: 关于印发贯彻实施《国家标准化发展纲要》行动计划的通知

July 11, 2022

New important data ID guidelines coming soon

China is in the process of further refining the process for identifying and handling sensitive data. On Friday, domestic media published comments made by Zuo Xiaodong at an official forum on data security and personal information protection. Who? Zuo Xiaodong is the man responsible for drafting th…

China is in the process of further refining the process for identifying and handling sensitive data.
On Friday, domestic media published comments made by Zuo Xiaodong at an official forum on data security and personal information protection.
Who? Zuo Xiaodong is the man responsible for drafting th...

sources

21st Century Biz: 如何区分“重要数据”？国标起草人：侧重从“后果角度”识别

July 11, 2022

China’s cyberspace regulator recruits influencers

China’s Cybersecurity watchdog (CAC) wants to get netizens stoked about the upcoming 20th Party Congress in the fall. How will it do that, you ask? By sending 40 internet celebrities down to Guangxi Province to produce content about the region. Wait, why Guangxi? Officially, Xi Jinping is a deleg…

China's Cybersecurity watchdog (CAC) wants to get netizens stoked about the upcoming 20th Party Congress in the fall.
How will it do that, you ask?

By sending 40 internet celebrities down to Guangxi Province to produce content about the region.

Wait, why Guangxi? Officially, Xi Jinping is a deleg...

sources

CAC: “喜迎党的二十大——网络名人壮美广西行”活动启动

July 11, 2022

Data dump – credit

China’s central bank released the credit data for June on Monday. The headlines: Net new total social financing (TSF) hit RMB 5.2 trillion last month, versus the consensus forecast of RMB 4.2 trillion. Net new bank loans were RMB 2.8 trillion in June, higher than the forecasted RMB 2.4 trillion. C…

China’s central bank released the credit data for June on Monday.
The headlines:

Net new total social financing (TSF) hit RMB 5.2 trillion last month, versus the consensus forecast of RMB 4.2 trillion.
Net new bank loans were RMB 2.8 trillion in June, higher than the forecasted RMB 2.4 trillion.

C...

sources

PBoC: 2022年6月社会融资规模存量统计数据报告

Bloomberg: China’s Credit Jumps as Banks and Government Stimulate Growth

July 9, 2022

Deep dive | Geopolitics overtakes geography as the crux of China’s natural resource woes (part one)

China’s got natural resource issues. That goes for the fossil fuel-dominated economy of today and the green future economy Beijing hopes to build tomorrow. What we mean: Right now, China’s struggling to secure enough oil and gas to meet its immediate and growing energy needs. Looking ahead, the cha…

China’s got natural resource issues.
That goes for the fossil fuel-dominated economy of today and the green future economy Beijing hopes to build tomorrow.
What we mean:

Right now, China’s struggling to secure enough oil and gas to meet its immediate and growing energy needs.
Looking ahead, the cha...

July 8, 2022

Girding for trouble

China’s iron and steel sector is heading for a meltdown. Thanks to persistently weak demand, steel revenues have plummeted and stockpiles have spiked 23% y/y. The industry’s purchasing managers’ index hit its worst reading in over a decade in June (Bloomberg). On Wednesday, domestic industry media…

China's iron and steel sector is heading for a meltdown.

Thanks to persistently weak demand, steel revenues have plummeted and stockpiles have spiked 23% y/y.
The industry's purchasing managers' index hit its worst reading in over a decade in June (Bloomberg).

On Wednesday, domestic industry media...

sources

21st Century Biz: 需求不振钢价下跌部分钢厂提前停产检修进入“蛰伏期”

Bloomberg: China’s Steel Industry Sounds the Alarm Over Crisis Conditions

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