string(13) "markets-macro"

Macro

February 2, 2022

The price is Hua-right

On Thursday, China Huarong Asset Management Co. said that it will sell its securities brokerage unit to central state-owned investment firm China Reform Holdings Corp. The deets: Huarong will sell the entirety of its 72% stake in Huarong Securities. China Reform Holdings will pay RMB 10.93 billion … Username Password Remember Me Forgot… Read More »

On Thursday, China Huarong Asset Management Co. said that it will sell its securities brokerage unit to central state-owned investment firm China Reform Holdings Corp.
The deets:

Huarong will sell the entirety of its 72% stake in Huarong Securities.
China Reform Holdings will pay RMB 10.93 billion ...

sources

HKEX: Major Transaction Relevant Matters On Huarong Securities Equity Transfer

February 2, 2022

A dose of optimism for the holiday

On Tuesday, Ning Jizhe, Director of the National Bureau of Statistics and vice-chairman of the National Development and Reform Commission scribbled up an op-ed on China’s economy. The piece was published in Qiushi, the CCP’s top theoretical journal. Ning’s bottom line: China’s economy is doing pre…

On Tuesday, Ning Jizhe, Director of the National Bureau of Statistics and vice-chairman of the National Development and Reform Commission scribbled up an op-ed on China’s economy.

The piece was published in Qiushi, the CCP’s top theoretical journal.

Ning's bottom line: China's economy is doing pre...

sources

Sina: 《求是》杂志发表宁吉喆署名文章：国民经济量增质升 “十四五”实现良好开局

Yicai: 宁吉喆：积极推出有利于经济稳定的政策，慎重出台有收缩效应的政策

February 2, 2022

Like a lead balloon

On Friday, the National Development and Reform Commission (NDRC) pledged to crack down on iron ore speculation. The problem: Domestic iron ore prices have jumped around 60% since the middle of November. But despite the jump, the NDRC has found that: “[D]emand and supply are overall stable and dome…

On Friday, the National Development and Reform Commission (NDRC) pledged to crack down on iron ore speculation.
The problem: Domestic iron ore prices have jumped around 60% since the middle of November.
But despite the jump, the NDRC has found that:

"[D]emand and supply are overall stable and dome...

sources

People.cn: 国家发改委：严厉打击铁矿石市场恶意炒作等违法违规行为

SCMP: China vows crackdown on iron ore speculators causing ‘abnormal’ price swings

February 2, 2022

Go forth and lend prudently

On Saturday, the People’s Bank of China (PBoC) and the State Administration of Foreign Exchange (SAFE) issued a notice aimed at better regulating domestic banks’ offshore lending. The announcement seeks to standardize and increase the ease with which domestic financial institutions lend outside Chin…

On Saturday, the People’s Bank of China (PBoC) and the State Administration of Foreign Exchange (SAFE) issued a notice aimed at better regulating domestic banks’ offshore lending.
The announcement seeks to standardize and increase the ease with which domestic financial institutions lend outside Chin...

sources

Gov.cn: 中国人民银行国家外汇管理局关于银行业金融机构境外贷款业务有关事宜的通知（银发〔2022〕27号）

Gov.cn: 人民银行外汇局有关部门负责人就《关于银行业金融机构境外贷款业务有关事宜的通知》答记者问

January 28, 2022

Scan faces or fingers

Yesterday, China UnionPay released a report on the state of mobile payment security. This caught our eye: More Chinese mobile payment users now confirm transactions using biometric confirmation methods — like fingerprint scans and facial recognition — as opposed to numeric password inputs.&nbsp…

Yesterday, China UnionPay released a report on the state of mobile payment security.
This caught our eye: More Chinese mobile payment users now confirm transactions using biometric confirmation methods — like fingerprint scans and facial recognition — as opposed to numeric password inputs. ...

sources

Sina: 二维码支付使用比例超九成

January 28, 2022

Last-minute Spring Festival travel deals

Xi Jinping scored an all-inclusive trip to Shanxi province on Wednesday and Thursday. He toured the walled city of Pingyao, plus some off-the-beaten-path destinations you won’t find on Tripadvisor, including: A post-flooding reconstruction site A post-impoverished village A coal power plant …

Xi Jinping scored an all-inclusive trip to Shanxi province on Wednesday and Thursday.
He toured the walled city of Pingyao, plus some off-the-beaten-path destinations you won’t find on Tripadvisor, including:

A post-flooding reconstruction site
A post-impoverished village
A coal power plant

...

sources

Huanqiu: 习近平春节前夕赴山西看望慰问基层干部群众向全国各族人民致以美好的新春祝福

January 28, 2022

The EU cautiously removes a glove

Buckle up kids, we’re heading to court. On January 27, the EU launched a case against China at the World Trade Organization (WTO) over Beijing’s de facto ban on exports from Lithuania. The EU claims China has: Refused to clear Lithuanian goods through customs and approve import applications Coerced…

Buckle up kids, we’re heading to court.
On January 27, the EU launched a case against China at the World Trade Organization (WTO) over Beijing's de facto ban on exports from Lithuania.
The EU claims China has:

Refused to clear Lithuanian goods through customs and approve import applications
Coerced...

sources

European Commission: EU refers China to the WTO following its trade restrictions on Lithuania

Global Times: EU urged not to be ‘kidnapped’ by Lithuania

January 28, 2022

Donbas me no questions, I won’t tell you no lies

On Thursday, Foreign Minister Wang Yi held a phone call with US Secretary of State Antony Blinken. Blinken’s ask: Could China please talk to Russia about Ukraine? ICYMI: Russia has been massing troops on Ukraine’s borders while demanding that NATO pull troops from eastern Europe and bar Ukraine from…

On Thursday, Foreign Minister Wang Yi held a phone call with US Secretary of State Antony Blinken.
Blinken’s ask: Could China please talk to Russia about Ukraine?
ICYMI: Russia has been massing troops on Ukraine's borders while demanding that NATO pull troops from eastern Europe and bar Ukraine from...

sources

US Department of State: Secretary Blinken’s Call with PRC State Councilor and Foreign Minister Wang

Gov.cn: 王毅应约同美国国务卿布林肯通电话

January 28, 2022

Break it up. Sell it off

On Thursday, Bloomberg reported that officials from Guangdong province have submitted a plan to Beijing proposing that Evergrande be dismantled and the bulk of its assets sold off. Citing unnamed sources, Bloomberg reported that funds raised from the sales would be used to repay creditors, albeit p…

On Thursday, Bloomberg reported that officials from Guangdong province have submitted a plan to Beijing proposing that Evergrande be dismantled and the bulk of its assets sold off.

Citing unnamed sources, Bloomberg reported that funds raised from the sales would be used to repay creditors, albeit p...

sources

Bloomberg: China Weighs Breaking Up Evergrande to Contain Property Crisis

FT: Oaktree risks showdown with Beijing over Evergrande debt

January 28, 2022

Leaving the pumps unprimed

In an essay published Thursday, Sun Guofeng, director-general of the monetary policy department at the People’s Bank of China (PBoC), laid out what to expect of monetary policy in the months ahead. So what’s in store? More of the same. Let’s just get that out of the way first. Sun acknowledge that…

Let's just get that out of the way first.

Sun acknowledge that...

sources

The Paper: 央行货币政策司司长：主动推出有利于经济稳定的货币政策

January 28, 2022

In SAMR we trust

On Thursday, SAMR’s anti-monopoly bureau approved semiconductor manufacturer AMD’s USD 35 billion acquisition of chip designer Xilinx. Both are US companies, but supply chips to China. The background: AMD announced the deal in October 2020 and expected it to close by the end of 2021. Prior t…

On Thursday, SAMR’s anti-monopoly bureau approved semiconductor manufacturer AMD’s USD 35 billion acquisition of chip designer Xilinx.

Both are US companies, but supply chips to China.

The background: AMD announced the deal in October 2020 and expected it to close by the end of 2021.

Prior t...

sources

Gov.cn: 市场监管总局关于附加限制性条件批准英伟达公司收购迈络思科技有限公司股权案反垄断审查决定的公告

January 28, 2022

MoT on driver compliance

On Thursday, an inter-ministerial regulatory body led by the Ministry of Transport (MoT) held its first plenum for 2022. On top of the agenda: Making the ride-hailing industry compliant with local regulations. Come on guys: We’ve been hearing this for years – and only marginal progress h…

On Thursday, an inter-ministerial regulatory body led by the Ministry of Transport (MoT) held its first plenum for 2022.
On top of the agenda: Making the ride-hailing industry compliant with local regulations.
Come on guys: We’ve been hearing this for years – and only marginal progress h...

sources

Caixin: 交通部：加快推进网约车合规化有效防止资本无序扩张

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