string(13) "markets-macro"

Macro

January 26, 2022

JJJ spells three-in-one

On Tuesday, Vice Premier Han Zheng met with the Leading Small Group on Integration and Development in the Jing-Jin-Ji. Some context: Jing-Jin-Ji refers to Beijing, Tianjin, and Hebei, and Xi Jinping’s plan to turn the three into one giant megalopolis. More context: JJJ is just one ambitious regiona… Username Password Remember Me Forgot Password

On Tuesday, Vice Premier Han Zheng met with the Leading Small Group on Integration and Development in the Jing-Jin-Ji.
Some context: Jing-Jin-Ji refers to Beijing, Tianjin, and Hebei, and Xi Jinping’s plan to turn the three into one giant megalopolis.
More context: JJJ is just one ambitious regiona...

sources

Gov.cn: 韩正主持召开京津冀协同发展领导小组会议

January 26, 2022

Taking out the trash

China’s banks disposed of a record volume of nonperforming assets (NPAs) last year – but the growth in disposals slowed precipitously. On Tuesday, the China Banking and Insurance Regulatory Commission (CBIRC) said that in 2021 China’s banks disposed of RMB 3.1 trillion worth of NPAs. That’s up a bi…

China’s banks disposed of a record volume of nonperforming assets (NPAs) last year – but the growth in disposals slowed precipitously.
On Tuesday, the China Banking and Insurance Regulatory Commission (CBIRC) said that in 2021 China’s banks disposed of RMB 3.1 trillion worth of NPAs.

That’s up a bi...

sources

CBIRC: 银保监会召开2022年工作会议

January 26, 2022

United we Stan

On Tuesday, Xi Jinping spoke at a video summit with the Stans. No need to list ’em, right? They’ve been independent for 30 years! And that’s why he called: To celebrate 30 years of diplomatic ties between China and Central Asia’s five post-Soviet Union breakaway states. Alright, then: Kazakhsta…

On Tuesday, Xi Jinping spoke at a video summit with the Stans.
No need to list 'em, right? They've been independent for 30 years!
And that's why he called: To celebrate 30 years of diplomatic ties between China and Central Asia's five post-Soviet Union breakaway states.
Alright, then: Kazakhsta...

sources

MoFA: 习近平在中国同中亚五国建交30周年视频峰会上的讲话(全文)

January 26, 2022

A wait and see approach

On Tuesday, Bloomberg reported that Nvidia is looking to abandon its plan to acquire Arm for USD 40 billion. Some context: Nvidia announced the ambitious deal in September 2020. But the deal needed to be okay’ed by antitrust regulators in the US, EU, and China. The problem: Almost no one liked the…

On Tuesday, Bloomberg reported that Nvidia is looking to abandon its plan to acquire Arm for USD 40 billion.
Some context: Nvidia announced the ambitious deal in September 2020.

But the deal needed to be okay'ed by antitrust regulators in the US, EU, and China.

The problem: Almost no one liked the...

sources

Bloomberg: Nvidia Quietly Prepares to Abandon $40 Billion Arm Bid

The Information: China Antitrust Officials Delay Review of Nvidia’s $40 Billion Arm Acquisition

January 26, 2022

Carbon market poised to hit the gas pedal on decarbonization

On Friday, Bloomberg reported that regulators are exploring far deeper cuts to the emission allowances of participants in the national emissions trading scheme (ETS) than previously reported. Some context: On January 6, Bloomberg reported that the Ministry of Ecology and Environment (MEE) was explor…

On Friday, Bloomberg reported that regulators are exploring far deeper cuts to the emission allowances of participants in the national emissions trading scheme (ETS) than previously reported.
Some context: On January 6, Bloomberg reported that the Ministry of Ecology and Environment (MEE) was explor...

sources

Bloomberg: China's Carbon Market May Get Stricter Under a New Proposal

January 26, 2022

Financing the future

On Monday, the China Banking and Insurance Regulatory Commission (CBIRC) held its annual work conference. In the readout following the meeting, the regulator underscored an overall emphasis for 2022 on: “Ensur[ing] the stability of the overall economic and financial situation. The CBIRC’s priorit…

"Ensur[ing] the stability of the overall economic and financial situation.

The CBIRC's priorit...

sources

Caixin Global: China’s Banking Sector Dumps Record $490 Billion of Bad Assets in 2021

Gov.cn: 银保监会召开2022年工作会议

January 26, 2022

All hands on deck

On Tuesday, the Ministry of Commerce (MofCom) held a presser to look back at 2021 and forward to 2022. The verdict: Some pretty good stuff happened in 2021, but it’ll be all hands on deck to keep the momentum going this year. We were most interested to see what the MofCom folks are thinking about… Read More »

On Tuesday, the Ministry of Commerce (MofCom) held a presser to look back at 2021 and forward to 2022.
The verdict: Some pretty good stuff happened in 2021, but it’ll be all hands on deck to keep the momentum going this year.
We were most interested to see what the MofCom folks are thinking about th...

sources

China.com: 国新办就2021年商务运行情况举行发布会

January 26, 2022

In the flesh

On Tuesday, Xi Jinping met in person with International Olympic Committee head Thomas Bach in Beijing. What’s the big deal? This marks Xi’s first in person meeting with an international leader since early in the pandemic almost two years ago. The occasion: The imminent Beijing Winter Olympics, of co…

On Tuesday, Xi Jinping met in person with International Olympic Committee head Thomas Bach in Beijing.
What’s the big deal? This marks Xi’s first in person meeting with an international leader since early in the pandemic almost two years ago.
The occasion: The imminent Beijing Winter Olympics, of co...

sources

Xinhua: Xi says China ready to deliver simple, safe, splendid Winter Olympics

SCMP: Xi Jinping meets IOC chief in Chinese leader’s first talks with foreign dignitary in nearly 2 years

Politico: Who’s boycotting the Winter Olympics?

January 26, 2022

Lemme (resolutely) smash

On Tuesday, Wang Yang, Chairman of the National Committee of the Chinese People’s Political Consultative Conference, presided over the annual Taiwan Work Conference. Wang’s rhetoric was the usual mixture of honey and vinegar as he called on the assembled to (CCTV): “[R]esolutely smash the separatis…

On Tuesday, Wang Yang, Chairman of the National Committee of the Chinese People's Political Consultative Conference, presided over the annual Taiwan Work Conference.
Wang’s rhetoric was the usual mixture of honey and vinegar as he called on the assembled to (CCTV):

“[R]esolutely smash the separatis...

sources

CPPCC: 2022年对台工作会议在京召开汪洋出席并讲话

CCTV: [视频]2022年对台工作会议在京召开汪洋出席并讲话

China Daily: Efforts urged to promote peace across Taiwan Straits

January 26, 2022

Tarmac telecom

On Friday, the Civil Aviation Administration of China (CAAC) released a plan to upgrade China’s airport surface communication system to 5G. Background: Luggage handlers, air traffic controllers, and airport ground crews rely on specialized communication systems to collaborate. Those systems are di…

On Friday, the Civil Aviation Administration of China (CAAC) released a plan to upgrade China's airport surface communication system to 5G.
Background: Luggage handlers, air traffic controllers, and airport ground crews rely on specialized communication systems to collaborate.

Those systems are di...

sources

People.cn: 民航局：“航空5G”不会影响飞机无线电高度表

Gov.cn: 中国民用航空局关于印发航空5G机场场面宽带移动通信系统建设应用实施方案的通知

Eurocontrol: Aeronautical mobile airport communications system datalink

NASA: NASA Helps Bring Airport Communications into the Digital Age

January 26, 2022

Tencent names and shames staff for bribery

Tencent is telling its employees to stop being corrupt. On Tuesday, the company’s anti-graft WeChat account Sunshine Tencent announced that: In 2021, Tencent fired roughly 70 workers for taking bribes It also blacklisted 13 companies involved in offering bribes to Tencent staffers Tencent’s …

Tencent is telling its employees to stop being corrupt.
On Tuesday, the company's anti-graft WeChat account Sunshine Tencent announced that:

In 2021, Tencent fired roughly 70 workers for taking bribes
It also blacklisted 13 companies involved in offering bribes to Tencent staffers

Tencent's ...

sources

Tencent WeChat: 腾讯集团反舞弊通报

January 26, 2022

Tencent and ByteDance hit record investment in 2021

ByteDance and Tencent were on an investment spree in 2021. According to an article in Caixin today: Tencent made 220 investment deals in 2021, up 60% y/y. ByteDance made 65 investment deals in 2021, up 103% y/y. Both were record numbers in a single year. Our take: Don’t expect any reco…

ByteDance and Tencent were on an investment spree in 2021.
According to an article in Caixin today:

Tencent made 220 investment deals in 2021, up 60% y/y.
ByteDance made 65 investment deals in 2021, up 103% y/y.

Both were record numbers in a single year.
Our take: Don't expect any reco...

sources

Caixin: 2021年互联网巨头加速业务布局腾讯字节对外投资创新高

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