string(13) "markets-macro"

Macro

February 22, 2022

Your money’s good here

Cash is still king. That was the message the People’s Bank of China (PBoC) delivered to commercial banks Monday at a symposium it held on the provision of cash services. Specifically: The PBoC said that any commercial bank with physical outlets must provide cash deposits and withdrawal services. Why… Username Password Remember Me … Read More »

Cash is still king.
That was the message the People’s Bank of China (PBoC) delivered to commercial banks Monday at a symposium it held on the provision of cash services.
Specifically: The PBoC said that any commercial bank with physical outlets must provide cash deposits and withdrawal services.
Why...

sources

PBoC: 人民银行、银保监会联合召开银行业金融机构人民币现金服务工作座谈会

February 22, 2022

Down payments down

Localities around China are doing their bit to rev up local housing markets. On Monday, The Paper reported that six major banks in Guangzhou, Guangdong have cut interest rates on home mortgages. According to the report: The rate on first loans was cut from 5.6% – that is the loan prime rate (LPR) p…

Localities around China are doing their bit to rev up local housing markets.
On Monday, The Paper reported that six major banks in Guangzhou, Guangdong have cut interest rates on home mortgages.
According to the report:

The rate on first loans was cut from 5.6% – that is the loan prime rate (LPR) p...

sources

The Paper: 六大银行今起下调广州地区房贷利率

The Paper: 多地重现两成首付，买房人的“终极利好”来了？

February 22, 2022

The ore store

On Monday, Bloomberg reported that Beijing is preparing to roll out a centralized, state-backed iron ore procurement platform. The goals of the platform are reportedly twofold: Stabilizing iron ore markets by consolidating all transactions onto a single, transparent platform Boosting China’s influe…

On Monday, Bloomberg reported that Beijing is preparing to roll out a centralized, state-backed iron ore procurement platform.
The goals of the platform are reportedly twofold:

Stabilizing iron ore markets by consolidating all transactions onto a single, transparent platform
Boosting China's influe...

sources

Bloomberg: China Plans State-Backed Platform to Buy Iron Ore, Sources Say

February 22, 2022

The government can’t do data security alone

Last Thursday, CAICT announced the first batch of 125 member organizations of the Data Security Community Project (DSC). What’s the DSC: Launched in December, the DSC brings together universities, research institutes, companies and other organizations in an effort to promote the impl…

Last Thursday, CAICT announced the first batch of 125 member organizations of the Data Security Community Project (DSC).
What’s the DSC: Launched in December, the DSC brings together universities, research institutes, companies and other organizations in an effort to promote the impl...

sources

CAICT: 中国信通院“数据安全共同体计划（DSC）”第一批125家入选成员单位公示

CAICT: 中国信通院共同发起“数据安全共同体计划”

February 22, 2022

Bye-byte brokerage app

On Monday, Bytedance sold its internet brokerage app Haitun Stock to Chinalin Securities for RMB 20 million. Why the offload? Prior to the sale, Bytedance had failed to obtain a securities brokerage license. Without the license, the Haitun Stock app was crippled. It couldn’t include …

Without the license, the Haitun Stock app was crippled. It couldn’t include ...

sources

Caixin: 全面出售或关停字节跳动将完全剥离与证券相关业务

People.cn: 正确认识和把握资本的特性和行为规律（人民观点）

February 22, 2022

Ant so good

On Monday, Bloomberg reported that regulators have asked state-owned firms and banks to undertake a thorough check of their links to Ant Group. The sources said: “Multiple regulators, including the banking watchdog, recently told institutions under their oversight to closely examine all expos…

On Monday, Bloomberg reported that regulators have asked state-owned firms and banks to undertake a thorough check of their links to Ant Group.
The sources said:

“Multiple regulators, including the banking watchdog, recently told institutions under their oversight to closely examine all expos...

sources

Bloomberg: China Tells Banks, State Firms to Report Exposure to Jack Ma’s Ant

Sina: 楼继伟：必须控制平台垄断数据要素市场系统性风险守护公共利益

February 22, 2022

RMB 1.1 trillion reasons to dream

On Tuesday, Minister of Finance, Liu Kun, and two of his deputies (let’s just call them collectively “the MoF”) gave a presser on fiscal policy. The message: More relief is coming, but it will be targeted, targeted, targeted. This echoed Liu’s People’s Daily op-ed on Monday, where he underscored hi…

On Tuesday, Minister of Finance, Liu Kun, and two of his deputies (let's just call them collectively "the MoF") gave a presser on fiscal policy.
The message: More relief is coming, but it will be targeted, targeted, targeted.

This echoed Liu's People’s Daily op-ed on Monday, where he underscored hi...

sources

SCIO: 国新办举行财政改革与发展工作新闻发布会图文实录

February 22, 2022

Cross border retail list update

On Monday, MofCom updated the official list of product categories permitted for cross border e-commerce retail imports. The list was first published in 2016, and last updated in 2019. What changed: Twenty-nine everyday consumer product categories were added, including skiing and golfing equip…

On Monday, MofCom updated the official list of product categories permitted for cross border e-commerce retail imports.

The list was first published in 2016, and last updated in 2019.

What changed: Twenty-nine everyday consumer product categories were added, including skiing and golfing equip...

sources

Gov.cn: 八部门公告调整跨境电子商务零售进口商品清单

February 22, 2022

Beijing examines Ant’s ties to state-owned firms

On Monday, Bloomberg reported that regulators have asked state-owned firms and banks to launch a thorough check of their links to Ant Group. The sources said: “Multiple regulators, including the banking watchdog, recently told institutions under their oversight to closely examine all exposure they…

On Monday, Bloomberg reported that regulators have asked state-owned firms and banks to launch a thorough check of their links to Ant Group.
The sources said:

“Multiple regulators, including the banking watchdog, recently told institutions under their oversight to closely examine all exposure they...

sources

Bloomberg: China Tells Banks, State Firms to Report Exposure to Jack Ma’s Ant

Sina: 楼继伟：必须控制平台垄断数据要素市场系统性风险守护公共利益

February 22, 2022

Better edtech, plz

On Monday, Minister of Education Huai Jinpeng delivered a speech at a meeting on education informatization. His message: China’s educational platforms and materials should be digitized, but not just for the sake of digitization. “[We must pursue digitization] based on application requirements …

On Monday, Minister of Education Huai Jinpeng delivered a speech at a meeting on education informatization.
His message: China’s educational platforms and materials should be digitized, but not just for the sake of digitization.

“[We must pursue digitization] based on application requirements ...

sources

Secrss: 教育部长怀进鹏：大力推进教育信息化、教育资源数字化建设

February 22, 2022

A day at the metaverse salon

On Sunday, CAICT partnered with the Industrial Internet Industry Alliance to convene a small “metaverse salon.” The purpose: To “build a platform for exchanges and cooperation between government, industry, academia, and research” on metaverse technologies. Who was there: Representatives fr…

On Sunday, CAICT partnered with the Industrial Internet Industry Alliance to convene a small “metaverse salon.”
The purpose: To “build a platform for exchanges and cooperation between government, industry, academia, and research” on metaverse technologies.
Who was there: Representatives fr...

sources

CAICT: 工业元宇宙系列沙龙 | “初探元宇宙共话未来”沙龙线上举办

February 22, 2022

Qunar gets dinged

On Monday, domestic media reported that travel platform Qunar has been fined for labor law violations. The fine was a paltry RMB 3,250 — about USD 500. What happened: A Beijing district branch of the Ministry of Human Resources and Social Security penalized the company for allowing workers to…

On Monday, domestic media reported that travel platform Qunar has been fined for labor law violations.

The fine was a paltry RMB 3,250 — about USD 500.

What happened: A Beijing district branch of the Ministry of Human Resources and Social Security penalized the company for allowing workers to...

sources

Sina: 独家|去哪儿网：因员工加班处理疫情退款被罚3250元已第一时间整改

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