string(13) "markets-macro"

Macro

March 23, 2022

Elon’s Chummy China ties

On Sunday, WSJ reported that Elon Musk’s chummy-chummy relationship with China is making Washington nervous. The big concern: Whether or not the Chinese government might gain access to Space X data or Tesla’s advanced battery designs through private investments or other means. … Username Password Remember Me Forgot Password

On Sunday, WSJ reported that Elon Musk’s chummy-chummy relationship with China is making Washington nervous.
The big concern: Whether or not the Chinese government might gain access to Space X data or Tesla’s advanced battery designs through private investments or other means. ...

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Bloomberg: Elon Musk’s Business Ties to China Create Unease in Washington

March 23, 2022

Really, CATL?

Yesterday, Bloomberg reported that state-owned battery giant CATL is scouting sites in North America for a new manufacturing plant. The deets: CATL wants to expand its ability to supply western automakers — particularly Tesla — while avoiding costly tariffs. According to Bloomberg’s sources, Mexico…

Yesterday, Bloomberg reported that state-owned battery giant CATL is scouting sites in North America for a new manufacturing plant.
The deets: CATL wants to expand its ability to supply western automakers — particularly Tesla — while avoiding costly tariffs. According to Bloomberg’s sources, Mexico...

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Bloomberg: Tesla Supplier CATL Weighs Sites for $5 Billion Battery Plant

March 23, 2022

I do not think it means what you think it means

On Friday, financial regulators released a new policy outlining plans to support financial development in the Zhejiang Common Prosperity Pilot Zone. Recap: In July 2021, Zhejiang announced a new plan to become a model province for inclusive economic, social, and ecological well-being — a….

On Friday, financial regulators released a new policy outlining plans to support financial development in the Zhejiang Common Prosperity Pilot Zone.
Recap: In July 2021, Zhejiang announced a new plan to become a model province for inclusive economic, social, and ecological well-being — a....

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Caijing: 央行等部门：推动建立与浙江共同富裕示范区建设相适应的金融体制机制

Zhejiang Gov: 四部门及浙江省政府联合发文金融支持浙江高质量发展建设共同富裕示范区

March 23, 2022

The right to trade data

On Monday, China’s macro planning body (NDRC) released draft opinions on establishing a foundational legal framework to protect the rights of data processors. Recap: China’s new data governance laws — like the Data Security Law and the Personal Information Protection Law — place restrictions on…

On Monday, China’s macro planning body (NDRC) released draft opinions on establishing a foundational legal framework to protect the rights of data processors.
Recap: China’s new data governance laws — like the Data Security Law and the Personal Information Protection Law — place restrictions on...

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NDRC: 关于对“数据基础制度观点”征集意见的公告

March 22, 2022

Regulators look to wrangle lithium prices

On Thursday, the Ministry of Industry and Information Technology (MIIT), the state macro planner, and the national market regulator met with lithium suppliers to discuss the skyrocketing price of lithium. By mid-March, the price of lithium carbonate was up 74% from the beginning of the year — and …

By mid-March, the price of lithium carbonate was up 74% from the beginning of the year -- and ...

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MIIT: 原材料工业司、装备工业一司共同召开锂行业运行和动力电池上游材料涨价问题座谈会

Caixin: 锂价年内涨七成三部委召开会议保供稳价

March 22, 2022

Fraud busters are us

There’s too much jiggery pokery in listed companies’ financial disclosures, and regulators ain’t gonna take it anymore. In a notice dated March 2 but posted Monday, the Ministry of Finance (MoF) and the China Securities Regulatory Commission (CSRC) ordered publicly traded firms to improve their repo…

There’s too much jiggery pokery in listed companies’ financial disclosures, and regulators ain’t gonna take it anymore.
In a notice dated March 2 but posted Monday, the Ministry of Finance (MoF) and the China Securities Regulatory Commission (CSRC) ordered publicly traded firms to improve their repo...

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MoF: 关于进一步提升上市公司财务报告内部控制有效性的通知

March 22, 2022

Financing Common Prosperity

On Friday, a bevy of agencies including the central bank, the banking regulator, and the Zhejiang provincial government released a notice on the financial sector’s role in Zhejiang’s Common Prosperity pilot zone. Some context: Common Prosperity is Beijing’s top-level plan to create a more sustainabl…

On Friday, a bevy of agencies including the central bank, the banking regulator, and the Zhejiang provincial government released a notice on the financial sector’s role in Zhejiang’s Common Prosperity pilot zone.
Some context: Common Prosperity is Beijing’s top-level plan to create a more sustainabl...

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Caijing: 快讯｜央行等部门：推动建立与浙江共同富裕示范区建设相适应的金融体制机制

March 22, 2022

The tax man giveth

Don’t you just love a premier who’s willing to get down in the weeds with tax policy? On Monday, Li Keqiang chaired a State Council meeting that laid out the payment schedule for value added tax (VAT) rebates. ICYMI: In his government work report released earlier this month, Li Keqiang promised to r…

Don’t you just love a premier who’s willing to get down in the weeds with tax policy?
On Monday, Li Keqiang chaired a State Council meeting that laid out the payment schedule for value added tax (VAT) rebates.
ICYMI: In his government work report released earlier this month, Li Keqiang promised to r...

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Gov.cn: 李克强主持召开国务院常务会议确定实施大规模增值税留抵退税的政策安排等

March 22, 2022

Stable policy = stable markets

On Monday, Premier Li Keqiang chaired the weekly State Council executive meeting. Li had a few things to say about the topic du jour in Beijing: Namely, capital markets stability. Some context: After last week’s wild swings in mainland markets – and in US and Hong Kong listed Chinese stocks – the…

On Monday, Premier Li Keqiang chaired the weekly State Council executive meeting.
Li had a few things to say about the topic du jour in Beijing:

Namely, capital markets stability.

Some context: After last week’s wild swings in mainland markets – and in US and Hong Kong listed Chinese stocks – the...

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Gov.cn: 李克强主持召开国务院常务会议确定实施大规模增值税留抵退税的政策安排等

March 22, 2022

COVID keeps ticking upwards

COVID case counts continue to rise all over China. Between last Tuesday and this Monday, China reported (NHC): 13,515 new domestically transmitted symptomatic infections, up significantly from 8,159 in the previous week. 12,729 new domestically transmitted …

COVID case counts continue to rise all over China.
Between last Tuesday and this Monday, China reported (NHC):

13,515 new domestically transmitted symptomatic infections, up significantly from 8,159 in the previous week.
12,729 new domestically transmitted ...

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NHC: 截至3月21日24时新型冠状病毒肺炎疫情最新情况

People.cn: 吴尊友：全国疫情形势在未来几周会得到明显控制

Yicai: 国家卫健委：5200万60岁以上老年人未完成全程接种，继续加大推进力度

March 22, 2022

Technology should be ethical

In 2018, Chinese scientist He Jiankui announced that he had created the world’s first gene-edited babies. It caused an international scandal, and He was roundly denounced. A year later, He was sent to prison for three years. China’s authorities do not want something like this to happen again. That…

In 2018, Chinese scientist He Jiankui announced that he had created the world's first gene-edited babies.
It caused an international scandal, and He was roundly denounced.

A year later, He was sent to prison for three years.

China's authorities do not want something like this to happen again. That...

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Gov.cn: 中共中央办公厅国务院办公厅印发《关于加强科技伦理治理的意见》

March 22, 2022

A national tragedy

On Monday, China Eastern Airlines Flight MU-5735 flight from Kunming to Guangzhou crashed in southern China’s Guangxi province. All 132 passengers and crew on board likely died. This does not happen often: The accident ended a record 4,227 safe flight days for Chinese airlines, dating back to Aug…

On Monday, China Eastern Airlines Flight MU-5735 flight from Kunming to Guangzhou crashed in southern China's Guangxi province.

All 132 passengers and crew on board likely died.

This does not happen often: The accident ended a record 4,227 safe flight days for Chinese airlines, dating back to Aug...

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Xinhua: 习近平对东航客机坠毁作出重要指示

Gov.cn: 刘鹤王勇率有关部门负责同志赴广西梧州指导东航客机坠毁事故现场救援善后处置及事故原因调查工作

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