string(13) "markets-macro"

Macro

January 12, 2022

NEVer say never

In December, China achieved a key 2025 new energy vehicle (NEV) sales target. The background: Beijing’s Made in China 2025 strategy (remember that?) called for NEVs to represent 20% of total auto sales by 2025. As SCMP reported on Tuesday, the December data shows NEVs hit 22.6% of total auto sales l… Username Password Remember… Read More »

In December, China achieved a key 2025 new energy vehicle (NEV) sales target.
The background: Beijing's Made in China 2025 strategy (remember that?) called for NEVs to represent 20% of total auto sales by 2025.
As SCMP reported on Tuesday, the December data shows NEVs hit 22.6% of total auto sales l...

sources

SCMP: Electric cars account for over 20 per cent of China’s new vehicle sales, reaching Beijing’s goal ahead of schedule

January 12, 2022

Zhou Xiaochuan’s free trade nostalgia

On Monday, former central bank (PBoC) governor Zhou Xiaochuan had some words of caution for the protectionists amongst us. Zhou’s remarks came at Tsinghua University’s Services Economy and Digital Government Center’s annual conference. ICYDK: Zhou helmed the PBoC from 2002-2018. According to Zhou, o…

On Monday, former central bank (PBoC) governor Zhou Xiaochuan had some words of caution for the protectionists amongst us.
Zhou’s remarks came at Tsinghua University’s Services Economy and Digital Government Center’s annual conference.
ICYDK: Zhou helmed the PBoC from 2002-2018.
According to Zhou, o...

sources

Caixin: 周小川：全球价值链已难以相互分割对外开放要向前走避免倒退

Global Times: 保护主义冲击全球价值链，中国如何应对？这些权威人士给出同一个答案

January 12, 2022

Data dump – inflation

Inflation data for December dropped on Wednesday. The headlines: The consumer price index (CPI) rose 1.5% y/y in December, down from a 2.3% y/y increase in November. The producer price index (PPI) increased 10.3% y/y in December, down from 12.9% y/y growth in November. Beijing’s drive to bring dow…

Inflation data for December dropped on Wednesday.
The headlines:

The consumer price index (CPI) rose 1.5% y/y in December, down from a 2.3% y/y increase in November.
The producer price index (PPI) increased 10.3% y/y in December, down from 12.9% y/y growth in November.

Beijing’s drive to bring dow...

sources

NBS: 国家统计局城市司高级统计师董莉娟解读2021年12月份CPI和PPI数据

Bloomberg: China Inflation Fuels Rate-Cut Calls as World Starts to Tighten

January 12, 2022

Omicron spreads

The COVID-19 situation is worsening by the day. On Tuesday, China reported (NHC): 166 domestically transmitted symptomatic cases – up from 110 on Monday. 4 domestically transmitted asymptomatic cases – down from 11 on Monday. Tianjin, where China’s first domestically transmitted Omicron infections…

The COVID-19 situation is worsening by the day.
On Tuesday, China reported (NHC):

166 domestically transmitted symptomatic cases – up from 110 on Monday.
4 domestically transmitted asymptomatic cases – down from 11 on Monday.

Tianjin, where China's first domestically transmitted Omicron infections...

sources

NHC: 截至1月11日24时新型冠状病毒肺炎疫情最新情况

The Paper: 天津累计报告阳性感染者137例，其中确诊76例无症状17例

The Paper: 天津发布通告：12日下午放假，全市启动第二轮全员核酸检测

People.cn: 辽宁大连：发现2例天津市返连人员核酸检测阳性

The Paper: 天津设置279个公路检查点，进京省际班线、省际包车均暂停

The Paper: 内蒙古突泉县发现一例核酸初筛疑似阳性人员，系从天津返回

The Paper: 河南安阳升级奥密克戎预防措施：机动车不上路，居民足不出户

January 12, 2022

When Xidada called Widodo

On Tuesday, Xi Jinping placed a call to Indonesian President Joko Widodo. Some context: Ongoing maritime disputes notwithstanding, Sino-Indonesian relations have been fairly chummy in recent months. Xi said he was pleased that that Beijing-Jakarta ties have shifted into high-gear (MoFA): “The two c…

On Tuesday, Xi Jinping placed a call to Indonesian President Joko Widodo.
Some context: Ongoing maritime disputes notwithstanding, Sino-Indonesian relations have been fairly chummy in recent months.
Xi said he was pleased that that Beijing-Jakarta ties have shifted into high-gear (MoFA):

“The two c...

sources

MoFA: Xi Jinping Speaks with Indonesian President Joko Widodo on the Phone

January 12, 2022

Shoring up water

Every drop counts. On Tuesday, Beijing released its first ever five-year plan (FYP) on water security. Why it matters: China is home to roughly 20% of the world’s population, but has just 7% of global freshwater – most of which is in southern provinces prone to flooding. That means population cente…

Every drop counts.
On Tuesday, Beijing released its first ever five-year plan (FYP) on water security.
Why it matters: China is home to roughly 20% of the world's population, but has just 7% of global freshwater – most of which is in southern provinces prone to flooding.

That means population cente...

sources

NDRC: “十四五”水安全保障规划

Gov.cn: “十四五”水安全保障规划印发实施

January 12, 2022

There are bad times just around the corner

On Tuesday, the State Council released a circular on stabilizing foreign trade and carrying out cross-cyclical adjustments. Translation from Party-speak: The export sector needs to brace for impact. Some context: Strong exports (buoyed by demand for PPE and lockdown necessities) have boosted an othe…

On Tuesday, the State Council released a circular on stabilizing foreign trade and carrying out cross-cyclical adjustments.
Translation from Party-speak: The export sector needs to brace for impact.
Some context: Strong exports (buoyed by demand for PPE and lockdown necessities) have boosted an othe...

sources

Gov.cn: Cross-cyclical adjustment to stabilize foreign trade

The Paper: 国办：暂免征收加工贸易企业内销税款缓税利息至2022年底

China.com: 国务院政策例行吹风会：做好跨周期调节，高质量实施RCEP，促进外贸平稳发展有关情况

January 12, 2022

Cadre class is in session

On Tuesday, Xi Jinping spoke at the Central Party School for a study session on last November’s Sixth Plenary Session. Teacher Xi’s message: Practice what you plenum. He wants the plenum’s historical resolution to be deeply ingrained in his students, who included ministerial-level officials fr…

On Tuesday, Xi Jinping spoke at the Central Party School for a study session on last November’s Sixth Plenary Session.
Teacher Xi’s message: Practice what you plenum.
He wants the plenum’s historical resolution to be deeply ingrained in his students, who included ministerial-level officials fr...

sources

CCTV: 习近平在省部级主要领导干部学习贯彻党的十九届六中全会精神专题研讨班开班式上发表重要讲话强调继续把党史总结学习教育宣传引向深入更好把握和运用党的百年奋斗历史经验

Trivium: Deep Dive: PRC 3.0

January 12, 2022

The Didi situation is still a hot mess

The FT reported today on the ongoing tribulations of Didi Chuxing. The skinny: Per it’s plan to offer share swaps, Didi needs to list in Hong Kong before it can begin the promised delisting in New York – but Hong Kong exchange rules are preventing the troubled ride hailer from listing. T…

The FT reported today on the ongoing tribulations of Didi Chuxing.
The skinny: Per it’s plan to offer share swaps, Didi needs to list in Hong Kong before it can begin the promised delisting in New York - but Hong Kong exchange rules are preventing the troubled ride hailer from listing.
T...

sources

FT: Didi struggles with Hong Kong IPO challenges

January 12, 2022

How now, gaokao?

On Monday, the Ministry of Education issued new guidelines for evaluating how well high schools are run. The message: Teachers, leave them kids alone. The guidelines specifically forbid preparation for the gaokao – China’s life-defining university entrance exam – to begin before the end of the …

On Monday, the Ministry of Education issued new guidelines for evaluating how well high schools are run.
The message: Teachers, leave them kids alone.
The guidelines specifically forbid preparation for the gaokao – China’s life-defining university entrance exam – to begin before the end of the ...

sources

Caixin: 严禁高三上学期结束前结课备考教育部出台评价指南

January 12, 2022

Venture fund still ventures in Chinese tech

Um, so, like… according to Bloomberg, the tech crackdown hasn’t really put VCs off of China at all. The scoop: A report released by research firm Prequin on Tuesday says that China raked in twice as much venture capital in 2021 as it did in 2020. China raised USD 130 billion in 202…

Um, so, like... according to Bloomberg, the tech crackdown hasn't really put VCs off of China at all.
The scoop: A report released by research firm Prequin on Tuesday says that China raked in twice as much venture capital in 2021 as it did in 2020.

China raised USD 130 billion in 202...

sources

Bloomberg: China Venture Funding Hits Record $131 Billion Despite Crackdown

January 12, 2022

Bilibili bans live streaming of 61 games

On Tuesday, Bilibili updated its list of video games that can’t be live-streamed on its platform. Bilibili updates the list annually. In case you’re old: Live-streamed gaming is when gamers play video games while making small talk in front of a live online audience. For the audience, it’s kind …

On Tuesday, Bilibili updated its list of video games that can't be live-streamed on its platform.

Bilibili updates the list annually.

In case you're old: Live-streamed gaming is when gamers play video games while making small talk in front of a live online audience.

For the audience, it's kind ...

sources

China Digital Times: B站官方宣布对至少60款游戏实行禁播处理

QDaily: 应文化部要求，熊猫直播停播 GTA5、H1Z1 等六款游戏

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