string(13) "markets-macro"

Macro

March 11, 2022

Pension problems

The fight against shadow banking never seems to be entirely over. On Thursday, Caixin reported that the banking and insurance regulator (CBIRC) is about to issue detailed rules for “personal pension guarantee management products” – a type of short-term wealth management product (WMP) sold by pension… Username Password Remember Me Forgot Password

The fight against shadow banking never seems to be entirely over.
On Thursday, Caixin reported that the banking and insurance regulator (CBIRC) is about to issue detailed rules for “personal pension guarantee management products” – a type of short-term wealth management product (WMP) sold by pension...

sources

CBIRC: 中国银保监会办公厅关于规范和促进养老保险机构发展的通知

Caixin: In Depth: China’s Pension Insurers Told to Stop Pursuing Quick and Risky Profits

March 11, 2022

This gas is our gas

Regulators are on edge about global oil and gas supply risks driven by Russia’s war on Ukraine. They are keen to limit the domestic impacts of market volatility. On Wednesday, the macro planner (NDRC) “told China’s state refiners to consider pausing exports of gasoline and diesel in April” (Reuters)…

Regulators are on edge about global oil and gas supply risks driven by Russia's war on Ukraine. They are keen to limit the domestic impacts of market volatility.
On Wednesday, the macro planner (NDRC) "told China's state refiners to consider pausing exports of gasoline and diesel in April" (Reuters)...

sources

Reuters: Beijing tells China state refiners to pause gasoline, diesel exports in April - sources

S&P Global: China's NDRC asks oil companies to suspend April gasoline, gasoil exports: sources

March 11, 2022

Li’s long goodbye

It’s the end of an era. On Friday, Premier Li Keqiang gave his annual press conference at the conclusion of this year’s Two Sessions. This was Li’s last press conference as premier, which he acknowledged (China): “This is my final year as premier.” What a difference a decade makes. When Li took ov…

It’s the end of an era.
On Friday, Premier Li Keqiang gave his annual press conference at the conclusion of this year’s Two Sessions.
This was Li’s last press conference as premier, which he acknowledged (China):

“This is my final year as premier.”

What a difference a decade makes.
When Li took ov...

sources

China.com: 国务院总理李克强会见中外记者

March 11, 2022

Not my job, not my prob

On Thursday, Foreign Minister Wang Yi held separate video calls with: French Foreign Minister Jean-Yves Le Drian Italian Foreign Minister Luigi Di Maio They discussed – wait for it – the ongoing crisis in Ukraine. Wang started with his usual lines about respecting sovereignty and talking things ou…

On Thursday, Foreign Minister Wang Yi held separate video calls with:

French Foreign Minister Jean-Yves Le Drian
Italian Foreign Minister Luigi Di Maio

They discussed – wait for it – the ongoing crisis in Ukraine.
Wang started with his usual lines about respecting sovereignty and talking things ou...

sources

Gov.cn: FM exchanges views on Ukraine issue with French, Italian counterparts

SCMP: Ukraine war: Foreign minister says China supports ceasefire but does not agree to step in

March 11, 2022

Expand the band

On Thursday, the China Foreign Exchange Trade System (CFETS) announced that, with the blessing of the central bank (PBoC), it would allow the yuan-ruble exchange rate to fluctuate up or down 10% on a daily basis. Some context: The PBoC sets a daily trading band for the RMB against other currencies. …

On Thursday, the China Foreign Exchange Trade System (CFETS) announced that, with the blessing of the central bank (PBoC), it would allow the yuan-ruble exchange rate to fluctuate up or down 10% on a daily basis.
Some context: The PBoC sets a daily trading band for the RMB against other currencies.
...

sources

CFETS: 关于扩大银行间外汇市场人民币兑俄罗斯卢布即期交易价浮动幅度的公告

Yicai: 首次！人民币兑卢布汇率波幅扩至10%，封堵套利、便利贸易结算

Bloomberg: Russia-China Trade Stifled by Yuan’s Surge Against Ruble

March 11, 2022

City roads, take me home

Urbanize, urbanize, urbanize! To make farmers richer. So suggested Wei Houkai, a senior rural development expert at the Chinese Academy of Social Sciences, and a delegate to the Two Sessions. He told an interviewer on Thursday that (21st Century Biz): “The fundamental way to increase farmers’ incom…

Urbanize, urbanize, urbanize! To make farmers richer.
So suggested Wei Houkai, a senior rural development expert at the Chinese Academy of Social Sciences, and a delegate to the Two Sessions. He told an interviewer on Thursday that (21st Century Biz):

“The fundamental way to increase farmers' incom...

sources

21st Century Biz: 专访全国人大代表魏后凯：未来促进农民增收的根本方法是“减人增收”

March 11, 2022

Wang Yang praises Xi

On Thursday, China’s political advisory body (CPPCC) concluded its annual session. At the closing ceremony, CPPCC Chairman and Politburo Standing Committee member Wang Yang addressed the assembled delegates. Summarizing the CPPCC’s annual session, Wang said that: “Everybody unanimously expressed th…

On Thursday, China’s political advisory body (CPPCC) concluded its annual session.
At the closing ceremony, CPPCC Chairman and Politburo Standing Committee member Wang Yang addressed the assembled delegates.
Summarizing the CPPCC’s annual session, Wang said that:

“Everybody unanimously expressed th...

sources

People's Daily: 在全国政协十三届五次会议闭幕会上的讲话

March 11, 2022

Meituan will provide free cervical and breast cancer screenings to female drivers

On March 8, Meituan announced several free healthcare services for its female drivers. The company will provide free breast and cervical cancer screenings. Meituan will also equip more than 5,000 sites nationwide with sanitary napkins, heating pads and other female hygiene products.&nbs…

On March 8, Meituan announced several free healthcare services for its female drivers.

The company will provide free breast and cervical cancer screenings.
Meituan will also equip more than 5,000 sites nationwide with sanitary napkins, heating pads and other female hygiene products.&nbs...

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Sina: 美团上线“女性骑手暖心包”，将为全国女性骑手提供两癌筛查服务

Sixth Tone: China Calls for Greater Gender Equality in Work, Politics, and Home

TechNode: Delivery drivers: Where are the women

March 11, 2022

Youth gaming edition, take 27401920

Preventing youth gaming addiction is the policy conversation that refuses to die. The topic kept cropping up at the 2022 Two Sessions — though we can’t imagine what is left to talk about. Background: In August, Beijing released perhaps the worlds’ harshest restrictions on online g…

Preventing youth gaming addiction is the policy conversation that refuses to die.

The topic kept cropping up at the 2022 Two Sessions — though we can't imagine what is left to talk about.

Background: In August, Beijing released perhaps the worlds' harshest restrictions on online g...

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21st Century Biz: 代表委员热议未成年人网络游戏防沉迷、严打游戏租号与个人信息保护

March 10, 2022

The end is Ni

Chinese officials’ battle with commodity price volatility seems to take a new turn every day. On Wednesday, the Shanghai Futures Exchange (SFE) halted nickel trading after prices hit their daily upward limit – effectively halting all global nickel trading (Bloomberg). ICYMI: Yesterday, we covered th…

Chinese officials' battle with commodity price volatility seems to take a new turn every day.
On Wednesday, the Shanghai Futures Exchange (SFE) halted nickel trading after prices hit their daily upward limit – effectively halting all global nickel trading (Bloomberg).
ICYMI: Yesterday, we covered th...

sources

Bloomberg: Nickel Chaos Goes Silent as China Also Hits Pause on Trading

Sohu: 沪镍夜盘三连板涨停！上期所提醒风险防范，机构称有回调风险

WSJ: Chinese Nickel Giant Tsingshan Faces $8 Billion Trading Loss as Ukraine War Upends Market

March 10, 2022

Don’t overdo it

On Tuesday, Liu Shijin, deputy director of the Economic Committee at China’s main political advisory body (the CPPCC) – gave his thoughts on the right way to grow China’s economy. Some context: On Saturday, Premier Li Keqiang surprised most pundits – including us – when he revealed the governme…

On Tuesday, Liu Shijin, deputy director of the Economic Committee at China's main political advisory body (the CPPCC) – gave his thoughts on the right way to grow China's economy.
Some context: On Saturday, Premier Li Keqiang surprised most pundits – including us – when he revealed the governme...

sources

21st Century Biz: 全国政协经济委员会副主任刘世锦：未来15年中国要跨过三个台阶

March 10, 2022

Evergrande tag teams with locals

Evergrande is getting creative. On Wednesday, Caixin reported that the under-siege property developer has convinced state firms, local partners, and banks to provide the funds necessary to complete construction on some developments. Citing unnamed sources, Caixin said that: In Liaoning, contractors…

Evergrande is getting creative.
On Wednesday, Caixin reported that the under-siege property developer has convinced state firms, local partners, and banks to provide the funds necessary to complete construction on some developments.
Citing unnamed sources, Caixin said that:

In Liaoning, contractors...

sources

Caixin: With Local Government Backing, Evergrande Secures Funding to Complete Some Projects

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