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Macro

April 29, 2022

Flash talk | Omicron comes to Beijing

In this flash talk, Trivium China crew in Shanghai and Beijing give an update on the COVID situation in those cities. We discuss when the Shanghai lockdown might lift, the rise of Omicron in Beijing and the government’s response, the possibility of a lockdown in Beijing, and if there are any signals… Username Password Remember… Read More »

April 29, 2022

Deep dive | China reaches for a fiscal solution

Exec sum: This week’s Central Commission for Financial and Economic Affairs meeting, chaired by Xi Jinping, confirmed officials’ plans to boost infrastructure construction. However, if officials are serious about undertaking an infrastructure stimulus, they will have to provide more generous fisca…

Exec sum:

This week’s Central Commission for Financial and Economic Affairs meeting, chaired by Xi Jinping, confirmed officials’ plans to boost infrastructure construction.
However, if officials are serious about undertaking an infrastructure stimulus, they will have to provide more generous fisca...

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April 28, 2022

Can pigs fly?

We’re a big fan of the old saying “When a typhoon comes, even pigs can fly.” On Tuesday, the Ministry of Agriculture and Rural Affairs (MARA) reported that the price of live pigs had risen 5.7% week on week – the third straight week of increases. That caught our eye because pig prices had been… Read More »

We're a big fan of the old saying "When a typhoon comes, even pigs can fly."
On Tuesday, the Ministry of Agriculture and Rural Affairs (MARA) reported that the price of live pigs had risen 5.7% week on week – the third straight week of increases.
That caught our eye because pig prices had been in fr...

sources

21st Century Biz: 生猪养殖“变局”：4月中旬猪价反弹近20%，大城市提高产量加强保供

MARA: 4月份第3周畜产品和饲料集贸市场价格情况

April 28, 2022

Wassup, Evergrande?

Hello, Evergrande. It’s been a minute. On Wednesday, Reuters reported that China Evergrande Group has won a six-month extension from creditors on a bond issued by its main onshore unit. The RMB 574 million bond, issued by Hengda Real Estate Group, was due Wednesday. There was a time when our daily…

Hello, Evergrande. It’s been a minute.
On Wednesday, Reuters reported that China Evergrande Group has won a six-month extension from creditors on a bond issued by its main onshore unit.

The RMB 574 million bond, issued by Hengda Real Estate Group, was due Wednesday.

There was a time when our daily...

sources

Reuters: China Evergrande gains six-month extension for Hengda onshore coupon payment

April 28, 2022

Powered down powerhouses

It turns out that city-wide lockdowns crimp economic growth. Who would’ve thought? On Wednesday, the SCMP reported that six provinces posted first-quarter GDP growth that lagged the national pace. What do they have in common? COVID flareups. In Q1, China’s economy managed to expand (officially)…

It turns out that city-wide lockdowns crimp economic growth.

Who would've thought?

On Wednesday, the SCMP reported that six provinces posted first-quarter GDP growth that lagged the national pace.

What do they have in common? COVID flareups.

In Q1, China’s economy managed to expand (officially)...

sources

SCMP: China GDP: lacklustre provincial growth underscores impact of worsening coronavirus outbreak and lockdowns

April 28, 2022

Think of the workers

On Wednesday, Premier Li Keqiang did his thing, presiding over the weekly State Council executive meeting. Top of mind: Jobs, jobs, jobs. Some context: Shaky employment numbers are an increasingly worrying byproduct of China’s economic downturn. Official unemployment hit 5.8% in March, the highest …

On Wednesday, Premier Li Keqiang did his thing, presiding over the weekly State Council executive meeting.
Top of mind: Jobs, jobs, jobs.
Some context: Shaky employment numbers are an increasingly worrying byproduct of China’s economic downturn.

Official unemployment hit 5.8% in March, the highest ...

sources

Gov.cn: 李克强主持召开国务院常务会议决定加大稳岗促就业政策力度等

April 28, 2022

Let’s get connected

China’s top policymakers are back on their logistics grind like they never left. Transport and logistic logjams were (once again) front and center at Wednesday’s State Council executive meeting featuring Li Keqiang. Some context: Facing COVID-19 lockdowns, rising global commodity prices, and distr…

China’s top policymakers are back on their logistics grind like they never left.

Transport and logistic logjams were (once again) front and center at Wednesday’s State Council executive meeting featuring Li Keqiang.

Some context: Facing COVID-19 lockdowns, rising global commodity prices, and distr...

sources

Gov.cn: 李克强主持召开国务院常务会议决定加大稳岗促就业政策力度等

April 28, 2022

Gimme a (tax) break

Guess who won’t be enjoying next week’s May Day holiday break? China’s poor tax officials. Tax offices nationwide will stay open for business during the holiday (April 30 – May 4). What’s keeping them there? Orders from on high to get value added tax (VAT) rebates out to firms ASAP. The State T…

Guess who won't be enjoying next week's May Day holiday break? China's poor tax officials.

Tax offices nationwide will stay open for business during the holiday (April 30 – May 4).

What's keeping them there? Orders from on high to get value added tax (VAT) rebates out to firms ASAP.
The State T...

sources

China Tax: 全国税务系统留抵退税政策落实推进会召开确保打赢打好大规模留抵退税攻坚战

April 28, 2022

Check that frozen fish again

The world’s largest trading nation has a new gatekeeper. And a tough to-do list. On Monday, Yu Jianhua was announced as Party Secretary of the General Administration of Customs. He takes over from Ni Yuefeng, who became Party chief of Hebei province last Friday. Yu, 60, is a trade negotiation vete…

The world's largest trading nation has a new gatekeeper. And a tough to-do list.
On Monday, Yu Jianhua was announced as Party Secretary of the General Administration of Customs.

He takes over from Ni Yuefeng, who became Party chief of Hebei province last Friday.

Yu, 60, is a trade negotiation vete...

sources

Xinhua: 海关总署党委书记调整

April 28, 2022

Metaverse for Party cadres

Trivium Tech reading list! On April 20, Xinhua reported that the Party School of the CCP Central Committee has published a new book — A Detailed Study on the Metaverse Industry for Party and Government Cadres. Who wrote it: Dr. Yan Yang, Deputy Secretary-General of the Zhongguancun Big Data Industr…

Trivium Tech reading list!
On April 20, Xinhua reported that the Party School of the CCP Central Committee has published a new book — A Detailed Study on the Metaverse Industry for Party and Government Cadres.
Who wrote it: Dr. Yan Yang, Deputy Secretary-General of the Zhongguancun Big Data Industr...

sources

Xinhua: 《元宇宙科技产业党政干部学习详解》一书出版

April 28, 2022

Wu finally out?

Yesterday, FT reported that British semiconductor giant Arm may finally be free of Allen Wu. Wu is the head of Arm China, the company’s local subsidiary. Drama recap: In June 2020, Arm tried to fire Wu, alleging he had gone rogue. Wu refused to leave, and due to some legal tec…

Yesterday, FT reported that British semiconductor giant Arm may finally be free of Allen Wu.

Wu is the head of Arm China, the company's local subsidiary.

Drama recap: In June 2020, Arm tried to fire Wu, alleging he had gone rogue. Wu refused to leave, and due to some legal tec...

sources

FT: Arm takes action to regain control at its renegade China unit

April 28, 2022

How’s Huawei doing these days?

On Tuesday, rotating Huawei chairman Hu Houkun spoke about the state of the company at the Huawei Global Analyst Conference. His key message: Huawei is still in survival mode in the wake of US sanctions. “Last year’s operating data shows that the difficulties Huawei faced in the past hav…

“Last year’s operating data shows that the difficulties Huawei faced in the past hav...

sources

C114: 胡厚崑分析师大会QA实录：三方面发力“有质量地活下来” 华为没有自建芯片厂

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