string(13) "markets-macro"

Macro

February 11, 2022

Winter has come and gone

At least, the part of winter that energy regulators were most worried about. On Thursday, Xinhua cited data confirming that coal supplies and prices are stable following the Lunar New Year (LNY), with average coal plant inventories hitting 23 days’ worth of supply. The update follows the release of… Username Password Remember Me … Read More »

At least, the part of winter that energy regulators were most worried about.
On Thursday, Xinhua cited data confirming that coal supplies and prices are stable following the Lunar New Year (LNY), with average coal plant inventories hitting 23 days' worth of supply.

The update follows the release of...

sources

Xinhua: 全国煤炭交易中心：国内电厂存煤平均可用天数达23天

February 10, 2022

Lunar New Year travel still well below pre-pandemic levels

On Tuesday, the Ministry of Culture and Tourism (MoCT) released tourism data for the seven-day Lunar New Year (LNY) holiday. The headline: Travel was slightly down from the 2021 LNY break, and still way down on pre-pandemic levels, with revenue down even further (Sohu): Total domestic travel headco…

On Tuesday, the Ministry of Culture and Tourism (MoCT) released tourism data for the seven-day Lunar New Year (LNY) holiday.
The headline: Travel was slightly down from the 2021 LNY break, and still way down on pre-pandemic levels, with revenue down even further (Sohu):

Total domestic travel headco...

sources

Sohu: 文旅部：春节假期国内旅游人数、收入比2021年略有下降

February 10, 2022

An (Ever)grande plan

On Wednesday, Reuters reported that China Evergrande Group’s chairman, Xu Jiayin, said the company aims to deliver 600,000 apartments in 2022 – about 50% of its pre-sold homes. Speaking at an internal meeting, Xu said that selling homes is the only way the company can clear its debt. To that end, h…

On Wednesday, Reuters reported that China Evergrande Group's chairman, Xu Jiayin, said the company aims to deliver 600,000 apartments in 2022 – about 50% of its pre-sold homes.
Speaking at an internal meeting, Xu said that selling homes is the only way the company can clear its debt.

To that end, h...

sources

Reuters: Evergrande aims to deliver 600,000 apartments in 2022, says no fire sales

February 10, 2022

Ironing out steel…again

On Monday, we told you that regulators published a pretty routine policy document on developing the iron and steel industry. But markets disagreed with our “routine” read: On Tuesday, domestic iron ore futures shot to a five-month high of RMB 821 per ton, and they’ve now gone up 19% since the beginn…

On Monday, we told you that regulators published a pretty routine policy document on developing the iron and steel industry.
But markets disagreed with our "routine" read: On Tuesday, domestic iron ore futures shot to a five-month high of RMB 821 per ton, and they've now gone up 19% since the beginn...

sources

Caixin: 铁矿石价格持续上涨政府要求避免炒作

21st Century Biz: 钢铁工业碳达峰目标或延缓至2030年，“总量控制”与“绿色低碳”引导钢铁行业高质量发展

February 10, 2022

It’s that time again

Time, that is, for China’s energy regulators to handwave about stabilizing coal supply and prices. On Wednesday, the National Development and Reform Commission (NDRC) and National Energy Administration (NEA) convened a (now semi-regular) meeting telling coal producers to keep their act clean and the…

Time, that is, for China's energy regulators to handwave about stabilizing coal supply and prices.
On Wednesday, the National Development and Reform Commission (NDRC) and National Energy Administration (NEA) convened a (now semi-regular) meeting telling coal producers to keep their act clean and the...

sources

Yicai: 国家发改委、国家能源局召开会议部署煤炭保供稳价工作

February 10, 2022

Red and yellow, black and white

No. Actually just red. On Wednesday, the Party’s Central Committee and the State Council issued black and white policy guidance calling for generation nexters to be red all over. The guidance stated that officials should work with today’s youth to (Xinhua): “Firmly grasp the critical period i…

No. Actually just red.
On Wednesday, the Party's Central Committee and the State Council issued black and white policy guidance calling for generation nexters to be red all over.
The guidance stated that officials should work with today's youth to (Xinhua):

“Firmly grasp the critical period i...

sources

Xinhua: 中共中央办公厅　国务院办公厅印发《关于加强新时代关心下一代工作委员会工作的意见》

February 10, 2022

The people’s internet companies

Remember that high-level meeting the CAC had with 27 internet companies about the “healthy development of the platform economy”? Well, the original meeting readouts only outlined what regulators said. Yesterday, the CAC released more excerpts from the meeting, highlighting what the internet …

Remember that high-level meeting the CAC had with 27 internet companies about the “healthy development of the platform economy”?

Well, the original meeting readouts only outlined what regulators said.

Yesterday, the CAC released more excerpts from the meeting, highlighting what the internet ...

sources

CAC: 促进互联网企业健康持续发展工作座谈会发言摘编

February 10, 2022

Tencent leads ITU team for global NFT standards

On Tuesday, the International Telecommunications Union (ITU) approved a China-led project to establish the first global standards on blockchain-based digital assets – aka NFTs. The project was jointly proposed by Tencent, Alibaba, and several Chinese universities and innovation labs. CAICT, our fav…

On Tuesday, the International Telecommunications Union (ITU) approved a China-led project to establish the first global standards on blockchain-based digital assets – aka NFTs.

The project was jointly proposed by Tencent, Alibaba, and several Chinese universities and innovation labs.
CAICT, our fav...

sources

NetEase: 腾讯牵头立项首个区块链数字藏品国际标准

SCMP: Tencent-led project becomes first UN-approved standards initiative on NFTs, known as ‘digital collectibles’ in China

February 10, 2022

ASML warns of possible IP infringement in China

Good heavens, so much drama in the semiconductor industry this week. On Wednesday, Bloomberg reported that Dutch lithography equipment maker ASML has hinted that China’s Dongfang Jingyuan Electron might be infringing on ASML’s IP. ASML has not yet outright accused Dongfang of IP theft. Why d…

Good heavens, so much drama in the semiconductor industry this week.
On Wednesday, Bloomberg reported that Dutch lithography equipment maker ASML has hinted that China's Dongfang Jingyuan Electron might be infringing on ASML’s IP.

ASML has not yet outright accused Dongfang of IP theft.

Why d...

sources

Bloomberg: ASML still has no licence to ship newest machines to China - CEO

February 10, 2022

Airborne trouble

OK, this is definitely the weirdest development of the day. On Wednesday, MIIT ordered e-commerce platforms to stop selling equipment designed to jam drone radio signals. The agency also said they’ve been working with police to fight illegal use of drone signal jammers. The results: Over 8,600 j…

OK, this is definitely the weirdest development of the day.
On Wednesday, MIIT ordered e-commerce platforms to stop selling equipment designed to jam drone radio signals.

The agency also said they've been working with police to fight illegal use of drone signal jammers.

The results: Over 8,600 j...

sources

Gov.cn: 国家无线电办公室通报严厉打击非法设置使用无人机无线电反制等设备警示案例

Sohu: 炒猪团无人机投放猪瘟病毒到底有还是没有？

February 10, 2022

PDD cash burning again

Pinduoduo is on yet another cash burning spree. On Wednesday, domestic media reported that Pinduoduo is offering RMB 3,000 to rural logistics stations if they sign up as pickup locations for Pinduoduo’s community group buying business. Refresher: In the early days of the pandemic, c…

Pinduoduo is on yet another cash burning spree.
On Wednesday, domestic media reported that Pinduoduo is offering RMB 3,000 to rural logistics stations if they sign up as pickup locations for Pinduoduo’s community group buying business.
Refresher: In the early days of the pandemic, c...

sources

Sina: 争抢快递网点？多多买菜放出高额补贴

February 10, 2022

Yi Po IPO?

On Tuesday, the SCMP reported that Chinese intelligent parking company Yi Po is attempting to move forward with a Nasdaq listing. Why that’s interesting: If successful, Yi Po would be the first Chinese tech company to list in the US in six months. The article suggests that Yi Po would serve as…

On Tuesday, the SCMP reported that Chinese intelligent parking company Yi Po is attempting to move forward with a Nasdaq listing.
Why that’s interesting: If successful, Yi Po would be the first Chinese tech company to list in the US in six months.

The article suggests that Yi Po would serve as...

sources

SCMP: Can a small Nanjing tech firm help revive IPO pipeline for Chinese companies to raise funds in the US?

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