string(13) "markets-macro"

Macro

July 1, 2022

Even more bonds

Details of how policy banks are going to finance their infrastructure loans to help reboot the economy are trickling out. On Thursday, the State Council met to discuss economic support measures. After boilerplate comments about monetary policy helping to stabilize the economy and employment – yawn –… Username Password Remember Me Forgot Password

Details of how policy banks are going to finance their infrastructure loans to help reboot the economy are trickling out.
On Thursday, the State Council met to discuss economic support measures.
After boilerplate comments about monetary policy helping to stabilize the economy and employment – yawn –...

sources

State Council: 李克强主持召开国务院常务会议确定政策性开发性金融工具支持重大项目建设的举措等

Caixin: Four Things to Know About Chinese Policy Banks’ Extra $120 Billion for Infrastructure

July 1, 2022

Smart car camera functions run afoul of auto data security regs

China’s new auto data security rules are giving automakers some headaches. What’s happening: Over the last few weeks, several big Chinese automakers have told customers that some of the features on their smart cars will be out of commission for a while. The companies include Changan Auto, Xiaopeng…

China's new auto data security rules are giving automakers some headaches.
What's happening: Over the last few weeks, several big Chinese automakers have told customers that some of the features on their smart cars will be out of commission for a while.

The companies include Changan Auto, Xiaopeng...

sources

Dongchedi: 同样为阉割汽车远程监控，长安、小鹏和比亚迪的车主为何态度迥异

July 1, 2022

No2 computing nation

Stat dump! Yesterday, the Ministry of Industry and Information Technology (MIIT) released the numbers on China’s computing power. According to Vice-Minister Zhang Yunning, at the end of 2021 China had over 19 million servers storing a total of around 800 exabytes. That’s 800 billion gigabytes (GB)…

Stat dump!
Yesterday, the Ministry of Industry and Information Technology (MIIT) released the numbers on China's computing power.
According to Vice-Minister Zhang Yunning, at the end of 2021 China had over 19 million servers storing a total of around 800 exabytes.

That's 800 billion gigabytes (GB)...

sources

MIIT: 工信部：我国算力规模全球第二

July 1, 2022

Quick take | China’s lopsided recovery

China’s May econ numbers showed a slight recovery in economic activity. But it was hardly cause for celebration. Concerningly, it was a weak recovery from the economy’s dismal April performance – so the bar was low. Even more concerningly, the recovery was also heavily weighted towards pr…

China's May econ numbers showed a slight recovery in economic activity.

But it was hardly cause for celebration.

Concerningly, it was a weak recovery from the economy's dismal April performance – so the bar was low.

Even more concerningly, the recovery was also heavily weighted towards pr...

July 1, 2022

MIIT Internet sector data dump

On Thursday, MIIT dropped its monthly data for the internet sector. It didn’t look good. From Jan to May this year most numbers were bad: Revenue is only up 1.8% y/y, compared to 24.4% y/y growth for the same period last year. Profits took a big hit too, down 14.8% y/y. Service …

On Thursday, MIIT dropped its monthly data for the internet sector.

It didn’t look good.

From Jan to May this year most numbers were bad:

Revenue is only up 1.8% y/y, compared to 24.4% y/y growth for the same period last year.
Profits took a big hit too, down 14.8% y/y.
Service ...

sources

MIIT: https://www.miit.gov.cn/jgsj/yxj/xxfb/art/2022/art_c30b2101623045d2a70ef3203ccf8bea.html

July 1, 2022

Big tech moves to self-regulate NFTs

On Thursday, internet companies in China announced a new industry alliance to regulate non-fungible tokens (NFTs). ICYMI: Although there are no formal regulations on NFTs yet, China’s cyberspace regulators and the central bank have been trying to rein in over-hyped NFT speculation for months. WeCh…

On Thursday, internet companies in China announced a new industry alliance to regulate non-fungible tokens (NFTs).
ICYMI: Although there are no formal regulations on NFTs yet, China's cyberspace regulators and the central bank have been trying to rein in over-hyped NFT speculation for months.

WeCh...

sources

CNstock: 蚂蚁、腾讯、百度、京东等联合倡议数字藏品行业自律发展

July 1, 2022

Shenzhen plans digital government

We’re seeing another wave of local smart city planning. On June 22, the Shenzhen City Government released their 14th Five-Year Plan (FYP) for digital government and smart cities. What caught our eye: There’s a strong focus on upgrading the foundational infrastructure that underpins urban data syst…

We're seeing another wave of local smart city planning.
On June 22, the Shenzhen City Government released their 14th Five-Year Plan (FYP) for digital government and smart cities.
What caught our eye: There's a strong focus on upgrading the foundational infrastructure that underpins urban data syst...

sources

Shenzhen Gov.cn: 深圳数字政府和智慧城市“十四五”发展规划发布

July 1, 2022

CAC releases draft standard contract regs for personal information export

Open the data floodgates! On Thursday, China’s cybersecurity watchdog (CAC) released draft regulations for companies that export personal information. Some context: The Personal Information Protection Law (PIPL) requires companies sending personal information of Chinese citizens abroad to ink a cont…

Open the data floodgates!
On Thursday, China's cybersecurity watchdog (CAC) released draft regulations for companies that export personal information.
Some context: The Personal Information Protection Law (PIPL) requires companies sending personal information of Chinese citizens abroad to ink a cont...

sources

CAC: 国家互联网信息办公室关于《个人信息出境标准合同规定（征求意见稿）》公开征求意见的通知

July 1, 2022

A little lubrication

Beijing is working to head off further oil price shocks – with subsidies. On Wednesday, the macro planner (NDRC) and finance ministry (MoF) announced that the central government will offer domestic oil refiners subsidies whenever crude exceeds USD 130/barrel. That’s the official refined oil price c…

Beijing is working to head off further oil price shocks – with subsidies.
On Wednesday, the macro planner (NDRC) and finance ministry (MoF) announced that the central government will offer domestic oil refiners subsidies whenever crude exceeds USD 130/barrel.

That's the official refined oil price c...

sources

Gov.cn: 关于做好国际油价触及调控上限后实施阶段性价格补贴有关工作的通知

July 1, 2022

Shanghai petaFLOPS around

Well, that was quick. On Thursday, the Shanghai Municipal Commission of Economic and Information Technology released a strategic plan to promote the healthy development of the local data center industry. Recap: On Wednesday, we told you that China’s buzziest new policy push is increasing the country…

Well, that was quick.
On Thursday, the Shanghai Municipal Commission of Economic and Information Technology released a strategic plan to promote the healthy development of the local data center industry.
Recap: On Wednesday, we told you that China's buzziest new policy push is increasing the country...

sources

Gov.cn: 上海市经济信息化委市发展改革委关于推进本市数据中心健康有序发展的实施意见

July 1, 2022

Don’t call it a rebound

It’s a recovery – not a rebound. That’s how Yu Liang, chairman of China Vanke Co. – China’s second-biggest property developer – described the improvements he observed in China’s real estate market in June. Speaking Wednesday at a shareholder meeting, Yu said: “The market has bottomed out,…

It’s a recovery – not a rebound.
That’s how Yu Liang, chairman of China Vanke Co. – China’s second-biggest property developer – described the improvements he observed in China’s real estate market in June.
Speaking Wednesday at a shareholder meeting, Yu said:

“The market has bottomed out,...

sources

Vanke: 万科2021年度股东大会暨2022年第一次A股类别股东大会及2022年第一次H股类别股东大会实录

July 1, 2022

The committee is in session

Who doesn’t love a good chat about monetary policy? On Friday, the central bank’s (PBoC) monetary policy committee got together for their quarterly meeting. Some context: The committee has 14 members, mostly from regulatory agencies with responsibilities for financial sector oversight. So what’s on …

Who doesn’t love a good chat about monetary policy?
On Friday, the central bank’s (PBoC) monetary policy committee got together for their quarterly meeting.
Some context: The committee has 14 members, mostly from regulatory agencies with responsibilities for financial sector oversight.
So what's on ...

sources

PBoC: 中国人民银行货币政策委员会召开2022年第二季度例会

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