string(13) "markets-macro"

Macro

June 17, 2022

Gimme gimme (ore)

Beijing has had quite enough of wildly volatile iron ore prices. ICYDK: Iron ore is the heart of steelmaking. And steel is the heart of China’s industrial economy. Massively expensive and unpredictable iron ore costs over the past year have hit China’s economy hard. Now, in a bid to gain market po… Username Password Remember… Read More »

Beijing has had quite enough of wildly volatile iron ore prices.
ICYDK: Iron ore is the heart of steelmaking. And steel is the heart of China's industrial economy.

Massively expensive and unpredictable iron ore costs over the past year have hit China's economy hard.

Now, in a bid to gain market po...

sources

Financial Times: China to set up centralised iron ore buyer to counter Australia’s dominance

June 17, 2022

Rip and replace hits a snag

On Thursday, we got a little more insight into the status of the campaign to rid US telecom networks of existing Chinese equipment. Recap: On April 7, we told you that in 2019, the FCC promised to provide funding to US carriers who agreed to rip out Huawei and ZTE gear and replace it with appro…

On Thursday, we got a little more insight into the status of the campaign to rid US telecom networks of existing Chinese equipment.
Recap: On April 7, we told you that in 2019, the FCC promised to provide funding to US carriers who agreed to rip out Huawei and ZTE gear and replace it with appro...

sources

FCC: Letter by FCC Chair Jessica Rosenworcel

June 17, 2022

Beijing SAMR hires antitrust advisors

On Wednesday, SAMR’s Beijing branch said it just hired 102 expert advisors to help out with antitrust law enforcement. The list of names includes respected antitrust law scholars, former antitrust regulators, lawyers, and folks who work in the internet sector. What they’ll do: The new …

On Wednesday, SAMR’s Beijing branch said it just hired 102 expert advisors to help out with antitrust law enforcement.

The list of names includes respected antitrust law scholars, former antitrust regulators, lawyers, and folks who work in the internet sector.

What they'll do: The new ...

sources

Beijing.gov: 北京市市场监督管理局反垄断专家库成员选聘公告

SAMR: 市场监管总局关于反垄断执法授权的通知

Beijing.gov: 北京市市场监督管理局关于反垄断专家名单的公告

June 17, 2022

Walking the talk

It feels like Beijing has been talking about ramping up infrastructure spending for months. When are words going to translate into action? Well, the moment may have finally arrived. On Thursday, Bloomberg reported that satellite data showed an uptick in the number of new construction sites in May….

It feels like Beijing has been talking about ramping up infrastructure spending for months.

When are words going to translate into action?

Well, the moment may have finally arrived.
On Thursday, Bloomberg reported that satellite data showed an uptick in the number of new construction sites in May....

sources

Bloomberg: Satellite Data Suggests China Infrastructure Push Gathering Pace

June 17, 2022

New regional high-tech zones

Inland China needs tech investment, badly. On Thursday, the State Council announced that four regional level High-Tech Investment Parks are getting upgraded to national level parks. Why it matters: High-tech enterprises located in national-level parks get more perks. That includes a range of pref…

Inland China needs tech investment, badly.
On Thursday, the State Council announced that four regional level High-Tech Investment Parks are getting upgraded to national level parks.
Why it matters: High-tech enterprises located in national-level parks get more perks.

That includes a range of pref...

sources

CE.cn: 滁州、信阳、遵义、克拉玛依四个高新区升为“国家级”

June 17, 2022

See what sticks

On Thursday, local officials in Shanghai announced the establishment of RMB 10 billion fund to promote investment in the metaverse industry. No word on who exactly is putting up the money. Fun fact: Back in February, officials said the fund would only total RMB 1 billion. But then competing high…

On Thursday, local officials in Shanghai announced the establishment of RMB 10 billion fund to promote investment in the metaverse industry.

No word on who exactly is putting up the money.

Fun fact: Back in February, officials said the fund would only total RMB 1 billion.
But then competing high...

sources

Jiemian: 上海发布元宇宙、绿色低碳、智能终端、数字经济等“新赛道”投资促进方案，总产业规模预计破万亿

Proginn: “虹口区元宇宙产业党建联盟”揭牌，包括万向区块链等9家成员单位

The Paper: 广州成立200亿元宇宙基金

Zaker: 北京通州拟成立元宇宙产业基金，或将是国内第一支元宇宙基金

June 17, 2022

Deep dive | The Contenders: Guo Shuqing the econ king?

China’s “election season” is heating up as we close in on the 20th Party Congress later this year. ICYDK: At the Congress, the Party will reshuffle its top body – the 25-seat Politburo and its standing committee. Those chosen for top positions will be pivotal in shaping China’s policy trajectory in…

China’s “election season” is heating up as we close in on the 20th Party Congress later this year.
ICYDK: At the Congress, the Party will reshuffle its top body – the 25-seat Politburo and its standing committee.

Those chosen for top positions will be pivotal in shaping China’s policy trajectory in...

June 16, 2022

Democratic parties weigh in on Common Prosperity

Common Prosperity policies remain in a nascent stage. On Wednesday, Wang Yang, the Party’s fourth-ranked leader, sat down with heads of China’s democratic parties to discuss how to achieve Common Prosperity, Xi Jinping’s signature initiative to reduce inequality. Wait, democratic parties? Yup, eight…

Common Prosperity policies remain in a nascent stage.
On Wednesday, Wang Yang, the Party’s fourth-ranked leader, sat down with heads of China's democratic parties to discuss how to achieve Common Prosperity, Xi Jinping's signature initiative to reduce inequality.
Wait, democratic parties? Yup, eight...

sources

People's Daily: 汪洋出席“扎实推动共同富裕”调研协商座谈会

June 16, 2022

Hey, you’re not so bad after all

On Monday, China’s largest think tank (CASS) released a report on how big tech platforms support Xi’s vision of “Common Prosperity.” The verdict: Platforms are actually doing a lot for the public good. Recap: Last year, big tech platforms took a lot of flak from policymakers for chasing pr…

On Monday, China's largest think tank (CASS) released a report on how big tech platforms support Xi's vision of "Common Prosperity."
The verdict: Platforms are actually doing a lot for the public good.
Recap: Last year, big tech platforms took a lot of flak from policymakers for chasing pr...

sources

Source: 社科院报告：互联网平台企业加快探索共富实践

June 16, 2022

Virtual money, real debt

Hold up. China’s loaning money in digital RMB now? On Tuesday, Xinhua reported that the Suzhou branch of the Agricultural Bank of China in Zhejiang province issued a small digital RMB-denominated (e-CNY) loan to a local cement producer. That’s the first bank-issued e-CNY loan in the country. …

Hold up. China’s loaning money in digital RMB now?
On Tuesday, Xinhua reported that the Suzhou branch of the Agricultural Bank of China in Zhejiang province issued a small digital RMB-denominated (e-CNY) loan to a local cement producer.

That’s the first bank-issued e-CNY loan in the country.
...

sources

Xinhua: 全国首笔数字人民币普惠贷款发放

SCMP: China’s digital currency: e-CNY trials move beyond retail to cover corporate loans for small businesses and tax payments

June 16, 2022

Do not break glass

Do it – but don’t overdo it. At Wednesday’s State Council meeting, Li Keqiang underscored how he expects his lower-downs to implement the recent raft of economic support measures. And how’s that? By: “Resolutely intensify[ing] efforts to stabilize the economy” “Focus[ing] on ensuring…employment,…

Do it – but don't overdo it.
At Wednesday's State Council meeting, Li Keqiang underscored how he expects his lower-downs to implement the recent raft of economic support measures.
And how's that? By:

“Resolutely intensify[ing] efforts to stabilize the economy”
“Focus[ing] on ensuring...employment,...

sources

State Council: 李克强主持召开国务院常务会议部署支持民间投资和推进一举多得项目的措施等

June 16, 2022

Invisible hands on deck

It’s all hands on deck to get China’s economy moving – even invisible ones. There were more words of encouragement for China’s struggling firms at Wednesday’s State Council executive meeting. Premier Li Keqiang called for more support for private investment – which, as Li noted, accounts for over …

It’s all hands on deck to get China’s economy moving – even invisible ones.
There were more words of encouragement for China's struggling firms at Wednesday’s State Council executive meeting.

Premier Li Keqiang called for more support for private investment – which, as Li noted, accounts for over ...

sources

Gov.cn: 李克强主持召开国务院常务会议部署支持民间投资和推进一举多得项目的措施等

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