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Macro

May 16, 2022

The North gets zoned

On Friday, the State Council approved the establishment of three new “national independent innovation demonstration zones” (NIDZs) in China’s northeastern Heilongjiang province. Background: NIDZs are areas that are permitted higher levels of autonomy to test out experimental policies related to inn… Username Password Remember Me Forgot Password

On Friday, the State Council approved the establishment of three new "national independent innovation demonstration zones" (NIDZs) in China's northeastern Heilongjiang province.
Background: NIDZs are areas that are permitted higher levels of autonomy to test out experimental policies related to inn...

sources

Gov.cn: 国务院关于同意哈尔滨、大庆、齐齐哈尔高新技术产业开发区建设国家自主创新示范区的批复

May 16, 2022

Radio killed the gaokao star

MIIT is gearing up to prevent high-tech cheating during the 2022 gaokao exam. The test will take place from June 7-8 this year. Recap: The gaokao is China’s annual college entrance examination, during which high school seniors take an extremely high-stakes test over a two-day period. The outcome…

MIIT is gearing up to prevent high-tech cheating during the 2022 gaokao exam.

The test will take place from June 7-8 this year.

Recap: The gaokao is China's annual college entrance examination, during which high school seniors take an extremely high-stakes test over a two-day period.

The outcome...

sources

MIIT: 国家无线电办公室部署全力防范和打击在2022年全国普通高校招生考试中利用无线电设备实施作弊违法行为

May 16, 2022

Guangzhou lets go of the R&D purse strings

On Thursday, the Guangzhou branch of the Ministry of Finance released new rules for sci-tech R&D budgeting. Background: In July 2021, the State Council called for simplifying budgeting procedures for sci-tech research, so that scientists can focus on making breakthroughs rather than doing paperw…

On Thursday, the Guangzhou branch of the Ministry of Finance released new rules for sci-tech R&D budgeting.
Background: In July 2021, the State Council called for simplifying budgeting procedures for sci-tech research, so that scientists can focus on making breakthroughs rather than doing paperw...

sources

Guangzhou Gov: 广东省人民政府办公厅关于改革完善省级财政科研经费使用管理的实施意见

May 16, 2022

CNKI plays defense

Man, this whole CNKI case is spiraling fast. Recap: On March 11, we told you that China’s market regulator (SAMR) announced they were conducting an anti-monopoly investigation into Tsinghua University-affiliated academic publishing platform, CNKI. CNKI is similar to JSTOR. More recap: The inves…

Man, this whole CNKI case is spiraling fast.
Recap: On March 11, we told you that China's market regulator (SAMR) announced they were conducting an anti-monopoly investigation into Tsinghua University-affiliated academic publishing platform, CNKI.

CNKI is similar to JSTOR.

More recap: The inves...

sources

Sina: “知网向赵德馨教授夫妇登门道歉”上热搜网友：先把钱赔了

Sanqin City Daily: 知网涉嫌垄断行为被立案调查

May 16, 2022

It takes a village to raise a netizen?

On May 7, for the first time ever, the Beijing Internet Court required a family to take digital parenting classes due to their child’s online behavior. The details of the case are just now being publicized. What happened: The case revolved around an 11-year old boy who used his parent’s bank card…

On May 7, for the first time ever, the Beijing Internet Court required a family to take digital parenting classes due to their child's online behavior.

The details of the case are just now being publicized.

What happened: The case revolved around an 11-year old boy who used his parent's bank card...

sources

21st Century Biz: 11岁少年6天打赏上万元北京互联网法院发布首个线上《家庭教育指导令》

May 15, 2022

New-type economic policy

Thursday’s Politburo Standing Committee meeting focused on the economy. The terse, two paragraph readout is pretty daggum interesting. Several phrases caught our eye, such as: “[We] must…construct a new development pattern where domestic and international circulation mutually promote each other.” …

Thursday’s Politburo Standing Committee meeting focused on the economy.
The terse, two paragraph readout is pretty daggum interesting.
Several phrases caught our eye, such as:

“[We] must…construct a new development pattern where domestic and international circulation mutually promote each other.”

...

sources

CPC People: 中共中央政治局常务委员会召开会议中共中央总书记习近平主持会议

May 13, 2022

Is the trade war over?

Officials are getting their hopes up that the US might finally reduce tariffs on Chinese goods. On Tuesday, US President Joe Biden told reporters that the White House was considering dropping Trump-era tariffs on Chinese products. Asked by reporters if tariff reduction was in the cards, Biden said (…

Officials are getting their hopes up that the US might finally reduce tariffs on Chinese goods.
On Tuesday, US President Joe Biden told reporters that the White House was considering dropping Trump-era tariffs on Chinese products.
Asked by reporters if tariff reduction was in the cards, Biden said (...

sources

White House: Remarks By President Biden on the Economy

Xinhua: 商务部回应美启动对华加征关税复审

MoFA: Foreign Ministry Spokesperson Zhao Lijian’s Regular Press Conference on May 11, 2022

May 13, 2022

Lay off the layoffs, will ya?

On Thursday, layoffs were announced or rumored at yet another bundle of Chinese tech firms. Didi is cutting half of its UK staff, and moving them to Latin America where it has a more solid position. AliExpress Russia is laying off 40% of its workforce. Layoffs are rumored at real estate platform B…

On Thursday, layoffs were announced or rumored at yet another bundle of Chinese tech firms.

Didi is cutting half of its UK staff, and moving them to Latin America where it has a more solid position.
AliExpress Russia is laying off 40% of its workforce.
Layoffs are rumored at real estate platform B...

May 13, 2022

The omnipresent policy predicament

Chinese economic policymakers have it rough right now. That was evident at Thursday’s wide-ranging State Council Information Office presser on economic reform. A whole bunch of policy wonks faced the media, but we’re homing in on comments from Han Wenxiu, deputy director of the Office of the Central…

Chinese economic policymakers have it rough right now.
That was evident at Thursday’s wide-ranging State Council Information Office presser on economic reform.
A whole bunch of policy wonks faced the media, but we’re homing in on comments from Han Wenxiu, deputy director of the Office of the Central...

sources

21st Century Biz: 中财办韩文秀：我们面临的是“成长中的烦恼”，中国财政货币政策空间足够

May 13, 2022

Sunac-kered

More than a dozen developers have defaulted on offshore bonds in recent months, but this one’s a big deal. China Sunac Holdings – China’s fourth-biggest developer by sales – has defaulted on a dollar-denominated bond with an outstanding principal of US 741.6 million. It gets worse. The company warn…

More than a dozen developers have defaulted on offshore bonds in recent months, but this one’s a big deal.
China Sunac Holdings – China’s fourth-biggest developer by sales – has defaulted on a dollar-denominated bond with an outstanding principal of US 741.6 million.
It gets worse. The company warn...

sources

HKEX: Inside information

Bloomberg: China’s White Knight Tycoon Can’t Save His Own Firm From Default

May 13, 2022

Play it again, Yulu

The PBoC has settled on a new mantra. Expect to hear it a lot. On Thursday, Chen Yulu, deputy governor of the People’s Bank of China (PBoC), said that henceforth the central bank would make stable economic growth a far greater priority. Sound familiar? It should. ICYMI: On Monday, the PBoC revealed …

The PBoC has settled on a new mantra. Expect to hear it a lot.
On Thursday, Chen Yulu, deputy governor of the People’s Bank of China (PBoC), said that henceforth the central bank would make stable economic growth a far greater priority.
Sound familiar? It should.
ICYMI: On Monday, the PBoC revealed ...

sources

PBoC: 中共中央宣传部举行经济和生态文明领域建设与改革情况发布会

May 13, 2022

Xi’s boy is new No. 2 at Propaganda Department

Another of Xi’s close aides has been promoted. On Thursday, Hong Kong’s Singtao Daily reported that Li Shulei (born 1964) has been appointed as deputy executive head of the Propaganda Department. Hold up: The Party has not announced the appointment, so how did Singtao know this had happened? Deduct…

Another of Xi’s close aides has been promoted.
On Thursday, Hong Kong’s Singtao Daily reported that Li Shulei (born 1964) has been appointed as deputy executive head of the Propaganda Department.
Hold up: The Party has not announced the appointment, so how did Singtao know this had happened?

Deduct...

sources

Singtao Daily: 「北大神童」李书磊任中宣部常务副部长

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