string(13) "markets-macro"

Macro

January 19, 2022

Erm, 261 million digital yuan sign-ups?

The quest to understand WTF is going on with digital yuan (e-CNY) rollout continues. Recap: On Jan 5, China’s central bank (PBoC) launched its official e-CNY wallet app nationwide. Prior to Jan 5, the app was only available to users in select pilot cities. Opening up a wallet on the app is the o… Username… Read More »

The quest to understand WTF is going on with digital yuan (e-CNY) rollout continues.
Recap: On Jan 5, China's central bank (PBoC) launched its official e-CNY wallet app nationwide.

Prior to Jan 5, the app was only available to users in select pilot cities.

Opening up a wallet on the app is the o...

sources

Gov.cn: 国新办举行2021年金融统计数据新闻发布会图文实录

January 19, 2022

Deal or no deal

On Monday, Reuters reported that China Cinda’s recent decision to pull out of the capital injection plan for Ant Group’s consumer finance business was due to pressure from Beijing. ICYMI: Last week, China Cinda, one of China’s largest state-owned asset management companies (AMCs), backtracked…

On Monday, Reuters reported that China Cinda’s recent decision to pull out of the capital injection plan for Ant Group’s consumer finance business was due to pressure from Beijing.
ICYMI:

Last week, China Cinda, one of China’s largest state-owned asset management companies (AMCs), backtracked...

sources

Reuters: Cinda, under Beijing pressure, scraps $944 mln investment in Ant unit -sources

January 19, 2022

More tools in the toolbox

At a Tuesday presser, People’s Bank of China (PBoC) vice governor Liu Guoqiang said that there was still room – albeit not all that much – for proactive monetary policy. Some context: On Monday, the PBoC cut the interest rate on the medium-term lending facility for the first time since April 2020. M…

At a Tuesday presser, People’s Bank of China (PBoC) vice governor Liu Guoqiang said that there was still room – albeit not all that much – for proactive monetary policy.
Some context: On Monday, the PBoC cut the interest rate on the medium-term lending facility for the first time since April 2020.
M...

sources

Caixin: 央行刘国强：货币政策工具箱开得再大些避免信贷塌方

Caixin: 央行：存款准备金率仍有调整空间 LPR会及时反映市场利率变化

January 18, 2022

BYD-ing their time

China’s electric vehicle (EV) giant BYD wants to shore up access to lithium, stat – but it looks like the company will have to wait a while. BYD, China’s largest EV maker by sales, is one of many companies scrambling to secure access to raw materials for batteries – an emerging area of competition…

China's electric vehicle (EV) giant BYD wants to shore up access to lithium, stat – but it looks like the company will have to wait a while.

BYD, China's largest EV maker by sales, is one of many companies scrambling to secure access to raw materials for batteries – an emerging area of competition...

sources

Caixin: 比亚迪3.88亿高价中标智利锂矿开采合同

Caixin: BYD’s $61 Million Chile Lithium Deal Hits the Rocks

January 18, 2022

CBIRC declares victory over WMPs

On Saturday, Cao Yu, a vice chairman of the China Banking and Insurance Regulatory Commission (CBIRC), declared the financial sector’s implementation of wealth management regulations a success. “The banking and insurance industries basically completed the rectification tasks…by the end of 2021.” (C…

On Saturday, Cao Yu, a vice chairman of the China Banking and Insurance Regulatory Commission (CBIRC), declared the financial sector’s implementation of wealth management regulations a success.

"The banking and insurance industries basically completed the rectification tasks…by the end of 2021.” (C...

sources

Caixin: 银保监会曹宇：资管新规过渡期整改任务基本完成

January 18, 2022

Dark times for SMEs

Small firms are struggling and they need help. That was a key message of Liu Guiping, a deputy governor of the People’s Bank of China (PBoC), when he laid out some of the central bank’s priorities in a speech on Saturday. Liu painted a fairly bleak picture of the pressures small businesses face, and…

Small firms are struggling and they need help.
That was a key message of Liu Guiping, a deputy governor of the People’s Bank of China (PBoC), when he laid out some of the central bank’s priorities in a speech on Saturday.
Liu painted a fairly bleak picture of the pressures small businesses face, and...

sources

Caixin: 央行刘桂平：支持居民提高消费意愿以高质量供给引领和创造新需求

January 18, 2022

The Party’s “magic weapon”

On Monday, the National United Front Ministerial Conference was held in Beijing. Who dis? The Party’s United Front Work Department (UFWD) ensures the Party agenda permeates the work of non-Party groups, such as business, religious organizations, ethnic minorities, and overseas Chinese. Many Bri…

On Monday, the National United Front Ministerial Conference was held in Beijing.
Who dis? The Party's United Front Work Department (UFWD) ensures the Party agenda permeates the work of non-Party groups, such as business, religious organizations, ethnic minorities, and overseas Chinese.
Many Bri...

sources

CCTV: 全国统战部长会议在京召开汪洋出席并讲话

January 18, 2022

Calling the Chancellor

On Monday, Premier Li Keqiang rang up new German Chancellor Olaf Scholz. ICYMI: Scholz took over the chancellery in December, after Angela Merkel’s historic 16 years in power. Merkel was a Beijing favorite, notably for her efforts to engage amicably with China on trade. Li is keen to see the good …

On Monday, Premier Li Keqiang rang up new German Chancellor Olaf Scholz.
ICYMI: Scholz took over the chancellery in December, after Angela Merkel's historic 16 years in power.

Merkel was a Beijing favorite, notably for her efforts to engage amicably with China on trade.

Li is keen to see the good ...

sources

Gov.cn: 李克强同德国总理朔尔茨通电话

Gov.cn: Premier pledges to promote steady, long-term development of China-Germany ties

German gov: Bundeskanzler Scholz telefoniert mit dem chinesischen Premierminister Li Keqiang

January 18, 2022

Omicron threatens Spring Festival travel and consumption

All over China, COVID-19 cases are on the rise again. Between last Monday and this Monday, China reported (NHC): 1,002 new domestically transmitted symptomatic infections, up significantly from 791 in the previous 8-day period. 41 new domestically transmitted asymptomatic i…

All over China, COVID-19 cases are on the rise again.
Between last Monday and this Monday, China reported (NHC):

1,002 new domestically transmitted symptomatic infections, up significantly from 791 in the previous 8-day period.
41 new domestically transmitted asymptomatic i...

sources

NHC: 截至1月17日24时新型冠状病毒肺炎疫情最新情况

21st Century Biz: 交通运输部：2022年春运客流量预计较疫情前同比下降60.4%

The Paper: 天津：当前新发感染者主要来源仍为集中隔离及居家隔离人群

January 18, 2022

“A” is for anti-monopoly

On Thursday, China’s market regulator (SAMR) announced plans to make the process of choosing targets for regulatory supervision more efficient. The plan: SAMR will look at a wide range of data points on corporate behavior. Depending on whether they’ve been naughty or nice, companies will t…

On Thursday, China’s market regulator (SAMR) announced plans to make the process of choosing targets for regulatory supervision more efficient.
The plan: SAMR will look at a wide range of data points on corporate behavior. Depending on whether they've been naughty or nice, companies will t...

sources

SAMR: 市场监管总局关于推进企业信用风险分类管理进一步提升监管效能的意见

January 18, 2022

Baby bust

So much for the demographic dividend… On Monday, National Bureau of Statistics Director Ning Jizhe revealed that domestic population growth was nearly flat in 2021. The deets: There were 10.62 million births recorded, a birth rate of 7.52 per 1,000 people – the lowest in PRC history. There were 1…

So much for the demographic dividend...
On Monday, National Bureau of Statistics Director Ning Jizhe revealed that domestic population growth was nearly flat in 2021.
The deets:

There were 10.62 million births recorded, a birth rate of 7.52 per 1,000 people – the lowest in PRC history.
There were 1...

sources

Economic Daily: 2021年中国人口出生率为7.52‰ 专家建议以成龙配套体系提升生育意愿

The Guardian: China’s population growth rate falls to 61-year low

January 18, 2022

True multilateralism

On Monday, Xi Jinping gave a virtual speech at the World Economic Forum in Davos, Switzerland. His key message: As the world emerges from the dark depths of the pandemic, we all need to get together and think about the little guy. Xi calls this “true multilateralism.” We’re looking at y…

On Monday, Xi Jinping gave a virtual speech at the World Economic Forum in Davos, Switzerland.
His key message: As the world emerges from the dark depths of the pandemic, we all need to get together and think about the little guy.
Xi calls this “true multilateralism.”

We're looking at y...

sources

weforum.org: President Xi Jinping's message to The Davos Agenda in full

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