string(13) "markets-macro"

Macro

February 7, 2022

Quick take | Fake it til you make it

On January 28, the CAC released draft rules governing “deep synthesis technologies” — i.e. deepfakes. This is way more important than it sounds. Why the rules are revolutionary: While some regions have released rules banning deepfakes in certain contexts (like the state of&nbsp… Username Password Remember Me Forgot Password

On January 28, the CAC released draft rules governing “deep synthesis technologies” — i.e. deepfakes.

This is way more important than it sounds.

Why the rules are revolutionary: While some regions have released rules banning deepfakes in certain contexts (like the state of ...

sources

CAC: 国家互联网信息办公室关于《互联网信息服务深度合成管理规定（征求意见稿）》公开征求意见的通知

February 7, 2022

Mo’ money, mo’ problems

It’s debunking time! On Friday, the SCMP reported that two small private banks – Zhongguancun Bank and NewUp Bank – will abandon their cash deposit and withdrawal services in the next few months. Why? According to SCMP, the two banks are moving China closer to its master plan of becoming a ful…

It's debunking time!
On Friday, the SCMP reported that two small private banks – Zhongguancun Bank and NewUp Bank – will abandon their cash deposit and withdrawal services in the next few months.
Why? According to SCMP, the two banks are moving China closer to its master plan of becoming a ful...

sources

SCMP: China’s fully cashless society a step closer after two private banks end services for banknotes and coins

February 7, 2022

Ironing out steel

On Monday, Beijing outlined its vision for the “high-quality development” of the iron and steel sector. This came in the form of guidance from the sector’s three main regulators – the industry ministry (MIIT), the environmental regulator (MEE), and the macro-planner (NDRC). Broadly, regulators ar…

On Monday, Beijing outlined its vision for the "high-quality development" of the iron and steel sector.

This came in the form of guidance from the sector's three main regulators – the industry ministry (MIIT), the environmental regulator (MEE), and the macro-planner (NDRC).

Broadly, regulators ar...

sources

Shanghai Securities News: 工信部等三部门发布关于促进钢铁工业高质量发展的指导意见

February 7, 2022

Spring festival travel still well below pre-pandemic levels

Sorry, mama – maybe next year. The Ministry of Transport (MoT) dropped official travel numbers for the Lunar New Year on Sunday. The headline: More people manage to make the trip home this year than last year, but the numbers were still way below 2019 levels. Some context: Travel over the LNY holi…

Sorry, mama – maybe next year.
The Ministry of Transport (MoT) dropped official travel numbers for the Lunar New Year on Sunday.
The headline:

More people manage to make the trip home this year than last year, but the numbers were still way below 2019 levels.

Some context: Travel over the LNY holi...

sources

Gov.cn: 春节假期全国预计发送旅客1.3亿人次

February 7, 2022

COVID lockdown jeopardizes aluminum production

A city-wide stay-at-home order is forcing smelters to suspend production in a major aluminum-producing center. Some context: On Saturday, Baise – a city of 4.2 million population in Guangxi province – reported six domestically transmitted COVID-19 cases. By Sunday, a round of mass testing uncovered…

A city-wide stay-at-home order is forcing smelters to suspend production in a major aluminum-producing center.
Some context: On Saturday, Baise – a city of 4.2 million population in Guangxi province – reported six domestically transmitted COVID-19 cases.

By Sunday, a round of mass testing uncovered...

sources

China CDC: 截至2月5日24时新型冠状病毒肺炎疫情最新情况

The Paper: 广西百色：第一轮核酸检测初筛阳性98人，待复核87人

The Paper: 广西百色实施全市范围交通管制，原则上车辆和人员不进不出

The Paper: 广西：2月7日0时起，百色市全员居家隔离

Baise Aluminum Industry Association: 百色市铝产业概况

February 7, 2022

50+ things I hate about you

On Friday, Xi Jinping sat down with Russian President Vladimir Putin who was in town for the opening ceremony of the 2022 Winter Olympics. During the meeting, the pair discussed their (many) common interests, including (MoFA): Safeguarding “true” multilateralism and democracy Upholding sovereignty,…

On Friday, Xi Jinping sat down with Russian President Vladimir Putin who was in town for the opening ceremony of the 2022 Winter Olympics.
During the meeting, the pair discussed their (many) common interests, including (MoFA):

Safeguarding “true” multilateralism and democracy
Upholding sovereignty,...

sources

MoFA: President Xi Jinping Held Talks with Russian President Vladimir Putin

The Paper: 中国和俄罗斯关于新时代国际关系和全球可持续发展的联合声明

February 7, 2022

Speaking the truth to power

Last Monday, the Party’s top journal, Qiushi, published most of Xi Jinping’s September 2021 remarks at the Central Party School in Beijing. Some context: Each year, Xi’s speech kicks off an annual training session for China’s leaders of tomorrow (many in their 30s). Among his key messages: Officials…

Last Monday, the Party’s top journal, Qiushi, published most of Xi Jinping’s September 2021 remarks at the Central Party School in Beijing.
Some context: Each year, Xi's speech kicks off an annual training session for China’s leaders of tomorrow (many in their 30s).
Among his key messages: Officials...

sources

Qiushi: 努力成为可堪大用能担重任的栋梁之才

February 7, 2022

Looking for a new member?

Great! Cause China’s really keen to join your trade pact. That’s been Beijing’s message over recent days, when officials have once again signaled serious interest in joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). ICYMI: The CPTPP is a free trade pact inclu…

Great! Cause China’s really keen to join your trade pact.
That's been Beijing's message over recent days, when officials have once again signaled serious interest in joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
ICYMI: The CPTPP is a free trade pact inclu...

sources

Gov.cn: China, Singapore to enhance cooperation

The Paper: 海关将在部分自贸试验区先行先试CPTPP部分规则

February 7, 2022

Oak doesn’t bend

On Friday, the FT reported that the American distressed debt investor Oaktree Capital has seized control of a China Evergrande Group development near Shanghai. The project was put up as collateral against a USD 400 million loan from Oaktree. When Evergrande failed to meet its loan obligations, Oakt…

On Friday, the FT reported that the American distressed debt investor Oaktree Capital has seized control of a China Evergrande Group development near Shanghai.
The project was put up as collateral against a USD 400 million loan from Oaktree.

When Evergrande failed to meet its loan obligations, Oakt...

sources

FT: How Oaktree captured Evergrande’s castle

February 7, 2022

Gaznost and pipelinestroika

On Friday, Gazprom, Russia’s state-controlled natural gas behemoth, announced it had struck a 30-year contract to pipe natural gas to China National Petroleum Corporation (CNPC). The deets: Per the agreement, Gazprom is on the hook for supplying CNPC with 10 billion cubic meters of gas annually – tr…

On Friday, Gazprom, Russia’s state-controlled natural gas behemoth, announced it had struck a 30-year contract to pipe natural gas to China National Petroleum Corporation (CNPC).
The deets: Per the agreement, Gazprom is on the hook for supplying CNPC with 10 billion cubic meters of gas annually – tr...

sources

Gazprom: Gazprom and CNPC sign agreement to supply Russian pipeline gas to China via Far Eastern route

Reuters: Russia, China agree 30-year gas deal via new pipeline, to settle in euros

Caixin: 俄向华新增天然气供应100亿立方米

February 7, 2022

The price (index) is right

On Sunday, the National Development and Reform Commission (NDRC) published a reassuring forecast for prices in the coming year. The gist: The NDRC expects consumer and producer prices to be stable in 2022. Some context: China’s top leadership made it clear that stability is the top economic poli…

Some context: China's top leadership made it clear that stability is the top economic poli...

sources

NBD: 国家发改委官微文章：2021年全球低通胀环境明显改变，预计今年CPI延续温和上涨，PPI涨幅可能逐步回落

Global Times: China to see moderate CPI growth in 2022 despite global inflationary pressure: NDRC

NASDAQ: China's agriculture, energy futures rally on supply concerns

February 2, 2022

Yuan perks for Shanghai

On Friday, the Shanghai branch of the State Administration of Foreign Exchange (SAFE) launched a pilot program liberalizing capital account transactions in and out of the Lingang New Area. Where? We hear you ask. Some context: Lingang is a subsection of the Shanghai Free Trade Zone. It’s located so…

On Friday, the Shanghai branch of the State Administration of Foreign Exchange (SAFE) launched a pilot program liberalizing capital account transactions in and out of the Lingang New Area.
Where? We hear you ask.
Some context: Lingang is a subsection of the Shanghai Free Trade Zone.

It’s located so...

sources

SAFE: 国家外汇管理局上海市分局在中国（上海）自由贸易试验区临港新片区开展跨境贸易投资高水平开放外汇管理改革试点

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