string(13) "markets-macro"

Macro

January 12, 2022

I’ll scan yours, you scan mine

China’s central bank (PBoC) is (still) trying to break the chokehold that Ali and Tencent have on mobile payments. On Tuesday, Caixin reported that the PBoC has issued technical standards for QR code-based payment interoperability. Background: In China, shoppers rarely swipe a credit card dur… Username Password Remember Me Forgot Password

China's central bank (PBoC) is (still) trying to break the chokehold that Ali and Tencent have on mobile payments.
On Tuesday, Caixin reported that the PBoC has issued technical standards for QR code-based payment interoperability.
Background: In China, shoppers rarely swipe a credit card dur...

sources

Caixin: 二维码支付技术标准出台互联互通还有多远？

January 12, 2022

Ma says Tencent is replaceable

Tencent CEO Pony Ma knows his company is expendable. On Monday, LatePost leaked some choice quotes by Ma at the annual company employee meeting last month: “Tencent is just an ordinary company. It’s a beneficiary of the national development wave, not a foundational service provider. It’s rep…

Tencent CEO Pony Ma knows his company is expendable.
On Monday, LatePost leaked some choice quotes by Ma at the annual company employee meeting last month:

“Tencent is just an ordinary company. It’s a beneficiary of the national development wave, not a foundational service provider. It’s rep...

sources

LatePost: 中国十二大互联网公司核心管理层变动 2021 年盘点

January 12, 2022

How now, gaokao?

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 first semes…

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 first semes...

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 11, 2022

Getting insurers into shape

It’s time to get your houses in order. That was the key message of the China Banking and Insurance Regulatory Commission (CBIRC) on Thursday at a forum it held with the insurance sector, at which the regulator sought input from insurers on how to: “Prevent excessive competition, achieve differentia…

It's time to get your houses in order.
That was the key message of the China Banking and Insurance Regulatory Commission (CBIRC) on Thursday at a forum it held with the insurance sector, at which the regulator sought input from insurers on how to:

“Prevent excessive competition, achieve differentia...

sources

CBIRC: 中国银保监会召开推动保险业高质量发展座谈会

January 11, 2022

A challenging year ahead

Make no doubt about it: China’s regulators are girding themselves for a year of global financial upheaval. On Monday, Xiao Yuanqi, vice chairman of the China Banking and Insurance Regulatory Commission (CBIRC), shared his thoughts on the most pressing issues now facing financial regulators around th…

Make no doubt about it: China’s regulators are girding themselves for a year of global financial upheaval.
On Monday, Xiao Yuanqi, vice chairman of the China Banking and Insurance Regulatory Commission (CBIRC), shared his thoughts on the most pressing issues now facing financial regulators around th...

sources

CBIRC: 在第十五届亚洲金融论坛上的演讲

January 11, 2022

Here comes the coal

Indonesia’s ban on coal exports may be set to ease. On Tuesday, the country approved 14 coal ships to depart for foreign shores, and announced plans to re-evaluate the export ban on Wednesday, January 12 (Nikkei). ICYMI: The ban went into effect on New Year’s Eve amid critically low stockpiles at In…

Indonesia's ban on coal exports may be set to ease.
On Tuesday, the country approved 14 coal ships to depart for foreign shores, and announced plans to re-evaluate the export ban on Wednesday, January 12 (Nikkei).
ICYMI: The ban went into effect on New Year's Eve amid critically low stockpiles at In...

sources

The Paper: 印尼煤炭1月份断供禁令暂无解除通知：对中国市场影响有限

Nikkei: Indonesia reviews coal export ban Wednesday, with ships set to go

Reuters: Chinese coal traders shrug off Indonesian coal export ban

January 11, 2022

Diary of a bad year

It wasn’t an easy year for the property sector in 2021. Amidst tight credit conditions and an even stricter policy environment, developers faced severe debt repayment pressures. As a result, many had to turn to accelerated sales (and discounts) to raise funds and pay off debt. But that process hasn…

It wasn't an easy year for the property sector in 2021.

Amidst tight credit conditions and an even stricter policy environment, developers faced severe debt repayment pressures.
As a result, many had to turn to accelerated sales (and discounts) to raise funds and pay off debt.
But that process hasn...

sources

Caijing: 超八成房企未完成全年销售目标行业洗牌加剧“碧万恒”三强格局终结

January 11, 2022

Yu Minhong surveys the damage

In a WeChat post on Saturday, New Oriental founder and CEO Yu Minhong detailed the heavy toll Beijing’s edtech crackdown has taken on his company. ICYMI: Throughout 2021, the central government released multiple directives under the “Double Reduction” policy, which is aimed at reducing the impact of…

In a WeChat post on Saturday, New Oriental founder and CEO Yu Minhong detailed the heavy toll Beijing’s edtech crackdown has taken on his company.
ICYMI: Throughout 2021, the central government released multiple directives under the “Double Reduction” policy, which is aimed at reducing the impact of...

sources

Bloomberg: EdTech Firm Fires 60,000 in Worst Cuts Since China Crackdown

Sohu: 辞退6万名员工，新东方转舵：素质教育、直播卖货、投资电影

SCMP: China tech crackdown: New Oriental’s Yu Minhong counts his losses in 2021, points to frugal future

Sina: 新东方：俞敏洪个人博客文章不代表本公司观点

January 11, 2022

Get to work

Vice Premier Hu Chunhua wants the government to do more to keep employment stable. That was the takeaway from a meeting of the State Council’s leading group on employment on Monday. To that end, Hu called on officials and companies to (Gov.cn): “Stabilize existing employment and create new jobs” “…

Vice Premier Hu Chunhua wants the government to do more to keep employment stable.
That was the takeaway from a meeting of the State Council's leading group on employment on Monday.
To that end, Hu called on officials and companies to (Gov.cn):

"Stabilize existing employment and create new jobs"
"...

sources

Gov.cn: 胡春华强调：更加积极有为工作确保就业大局稳定

January 11, 2022

Enough with the sluggish investment

It’s time to get spending. That was the key message at the weekly State Council meeting on Monday, chaired by Premier Li Keqiang (People.cn): “[We must] guide the places where investment in newly started projects has declined.” But Li doesn’t want just any old investment. The meeting called out 1…

It's time to get spending.
That was the key message at the weekly State Council meeting on Monday, chaired by Premier Li Keqiang (People.cn):

“[We must] guide the places where investment in newly started projects has declined.”

But Li doesn't want just any old investment.

The meeting called out 1...

sources

People.cn: 李克强主持召开国务院常务会议

Bloomberg: China Vows to Speed Up Investment in Effort to Stabilize Growth

January 11, 2022

Just say ‘yes’

On Monday, Premier Li Keqiang and the State Council said ‘yes’ to drugs. Again. Helpful context: Since 2019, the central government has initiated at least five rounds of bulk pharmaceutical procurements, which has helped reduce China’s average price of drugs more than 50%. Centralized procureme…

On Monday, Premier Li Keqiang and the State Council said ‘yes’ to drugs. Again.
Helpful context: Since 2019, the central government has initiated at least five rounds of bulk pharmaceutical procurements, which has helped reduce China's average price of drugs more than 50%.
Centralized procureme...

sources

Gov.cn: 李克强主持召开国务院常务会议进一步降低患者医药负担

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