string(13) "markets-macro"

Macro

April 15, 2022

China’s mixed feeling about NFTs

On Wednesday, three financial industry associations warned financial institutions to adhere to a strict code of conduct when dealing with non-fungible tokens (NFTs). Specifically, they asked institutions to: Not issue NFTs of securities, insurance products, credit, precious metals, or other fi… Username Password Remember Me Forgot Password

Not issue NFTs of securities, insurance products, credit, precious metals, or other fi...

sources

People.cn: 人民网签约中国对外文化集团进军数字藏品领域

Caixin: 三协会提示防范NFT风险坚决遏制金融化证券化倾向

April 15, 2022

Deep dive | With Shanghai’s nuanced COVID approach failing spectacularly, look for the return of the iron fist

Shanghai’s masterclass in what not to do In a genuinely shocking turn of events, Shanghai has found itself at the center of the world’s most prominent COVID outbreak for more than six weeks. It’s hard to overstate what a jarring turn of events this has been. Over the past two years, it was newsworth…

Shanghai’s masterclass in what not to do
In a genuinely shocking turn of events, Shanghai has found itself at the center of the world’s most prominent COVID outbreak for more than six weeks.
It’s hard to overstate what a jarring turn of events this has been. Over the past two years, it was newsworth...

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April 15, 2022

Triage for trade

Premier Li Keqiang threw a bone to floundering exporters at Wednesday’s State Council executive meeting. ICYMI: The customs bureau released March trade data on Wednesday, and the picture was bleak. Imports collapsed, falling 0.1% y/y, likely reflecting port disruptions. Export growth slow…

Premier Li Keqiang threw a bone to floundering exporters at Wednesday’s State Council executive meeting.
ICYMI: The customs bureau released March trade data on Wednesday, and the picture was bleak.

Imports collapsed, falling 0.1% y/y, likely reflecting port disruptions.
Export growth slow...

sources

Gov.cn: 李克强主持召开国务院常务会议部署促进消费的政策举措助力稳定经济基本盘和保障改善民生等

April 14, 2022

About those COVID border restrictions…

Overseas travelers wanting to get into China have had a rollercoaster 24 hours. On Wednesday, domestic media Caixin broke the news that eight cities were due to start a one-month trial cutting mandatory quarantine time for inbound travelers to 10 days from 14. According to Caixin, which cited a Stat…

Overseas travelers wanting to get into China have had a rollercoaster 24 hours.
On Wednesday, domestic media Caixin broke the news that eight cities were due to start a one-month trial cutting mandatory quarantine time for inbound travelers to 10 days from 14.
According to Caixin, which cited a Stat...

sources

Caixin: 上海、广州等8市成为疫情防控措施优化试点城市探索缩短重点人群隔离时间

Yicai: 独家｜厦门试点疫情防控措施优化：部分入境人员集中隔离时间缩短四天

Tencent: 大连等8市成疫情防控措施优化试点地区，探索缩短重点人群隔离时间

The Paper: 厦门试点疫情防控措施优化：部分入境人员集中隔离时间缩短4天

Xinhua: Xinhua Commentary: China chooses to fight the virus while shielding the vulnerable

CCTV: 【央视快评】坚持“动态清零”毫不动摇

People's Daily: 坚持“动态清零”总方针不犹豫不动摇（抓细抓实各项防疫工作）

April 14, 2022

Triage for trade

Premier Li Keqiang threw a bone to floundering exporters at Wednesday's State Council executive meeting.
ICYMI: The customs bureau released March trade data on Wednesday, and the picture was bleak.

Imports collapsed, falling 0.1% y/y, likely reflecting port disruptions.
Export growth slowed – and ...

sources

Gov.cn: 李克强主持召开国务院常务会议部署促进消费的政策举措助力稳定经济基本盘和保障改善民生等

Gov.cn: Premier stresses promoting consumption to stabilize economic fundamentals

April 14, 2022

Xi’s parting shot to Hainan

On Wednesday, Xi Jinping ended his three-day swing through the tropical paradise of Hainan island with a sit-down session with provincial leaders. Xi listened to their work reports and then gave them a run-down of policy priorities. Here’s the laundry list (Xinhua): Accelerate implementation of the…

On Wednesday, Xi Jinping ended his three-day swing through the tropical paradise of Hainan island with a sit-down session with provincial leaders.
Xi listened to their work reports and then gave them a run-down of policy priorities.
Here's the laundry list (Xinhua):

Accelerate implementation of the...

sources

Xinhua: 习近平在海南考察时强调解放思想开拓创新团结奋斗攻坚克难加快建设具有世界影响力的中国特色自由贸易港

April 14, 2022

Old consumption, new consumption…

…red consumption, blue consumption. The color of consumption doesn’t matter as long as it catches mice. So said Premier Li Keqiang, more or less, at the weekly State Council executive meeting on Wednesday. In case you haven’t been paying attention: Li’s really worried about the economy. …

…red consumption, blue consumption.
The color of consumption doesn’t matter as long as it catches mice.
So said Premier Li Keqiang, more or less, at the weekly State Council executive meeting on Wednesday.
In case you haven't been paying attention: Li's really worried about the economy.
...

sources

Gov.cn: 李克强主持召开国务院常务会议部署促进消费的政策举措助力稳定经济基本盘和保障改善民生等

April 14, 2022

Lockdown logistics

COVID lockdowns are straining China’s world-class logistics platforms – leaving many without regular access to the bare necessities. On Sunday, China’s macro planner (NDRC) sat down with 10 industry giants and the logistics industry association (CFLP) to discuss how to untangle the bottlenecks.&nbsp…

COVID lockdowns are straining China’s world-class logistics platforms – leaving many without regular access to the bare necessities.
On Sunday, China’s macro planner (NDRC) sat down with 10 industry giants and the logistics industry association (CFLP) to discuss how to untangle the bottlenecks. ...

sources

The Paper: 国家发改委：积极协调有关部门，为全面恢复物流运行营造宽松环境

April 14, 2022

Pricing Hong Kong stocks in RMB

Hong Kong is inching closer to allowing mainland investors to trade stocks in RMB. That was the message from Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, at a legislative council meeting on Monday. Some context: Mainland investors can buy Hong Kong stocks thr…

Hong Kong is inching closer to allowing mainland investors to trade stocks in RMB.
That was the message from Christopher Hui, Hong Kong's Secretary for Financial Services and the Treasury, at a legislative council meeting on Monday.
Some context: Mainland investors can buy Hong Kong stocks thr...

sources

Caixin: 香港将与内地磋商南向港股通人民币报价

April 14, 2022

I decline to drink your milkshake

One of China’s biggest oil producers has decided that the West just ain’t worth the trouble. On Wednesday, Reuters reported that state-owned CNOOC Ltd – China’s third largest oil and gas producer – is liquidating operations in the US, UK, and Canada. The assets up for sale include (Reuters): “[S]ta…

One of China’s biggest oil producers has decided that the West just ain’t worth the trouble.
On Wednesday, Reuters reported that state-owned CNOOC Ltd – China’s third largest oil and gas producer – is liquidating operations in the US, UK, and Canada.
The assets up for sale include (Reuters):

“[S]ta...

sources

Reuters: Exclusive: China's oil champion prepares Western retreat over sanctions fear

April 14, 2022

Show Li the money

Is monetary stimulus nigh? On Wednesday, Premier Li Keqiang did that thing he does, presiding over the weekly State Council executive meeting. Li signaled that a little monetary easing is on the way, saying that authorities would (Gov.cn): “Utilize monetary policy tools such as cuts to banks’ reser…

Is monetary stimulus nigh?
On Wednesday, Premier Li Keqiang did that thing he does, presiding over the weekly State Council executive meeting.
Li signaled that a little monetary easing is on the way, saying that authorities would (Gov.cn):

“Utilize monetary policy tools such as cuts to banks’ reser...

sources

Gov.cn: 李克强主持召开国务院常务会议部署促进消费的政策举措助力稳定经济基本盘和保障改善民生等

April 14, 2022

Huawei does the sanction shuffle

On Tuesday, the Chinese language version of Russian state media outlet Sputnik reported that Huawei has removed apps from several sanctioned Russian banks from its app stores. Who got the axe: Apps by VTB Bank, Promsvyazbank and Bank Otkritie were removed. All three banks have been banned from SWI…

On Tuesday, the Chinese language version of Russian state media outlet Sputnik reported that Huawei has removed apps from several sanctioned Russian banks from its app stores.
Who got the axe: Apps by VTB Bank, Promsvyazbank and Bank Otkritie were removed.

All three banks have been banned from SWI...

sources

Sputnik: 华为AppGallery删除多家俄罗斯银行应用程序

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