string(13) "markets-macro"

Macro

January 5, 2022

Historic algo regs are here

On Tuesday, the CAC published final regulations on algorithmic recommendation engines. These are a big deal. Why? The rules are quite likely the strictest and most comprehensive of their kind globally, covering the use of recommendation algorithms in everything from targeted ads and ma… Username Password Remember Me Forgot Password

On Tuesday, the CAC published final regulations on algorithmic recommendation engines.

These are a big deal.

Why? The rules are quite likely the strictest and most comprehensive of their kind globally, covering the use of recommendation algorithms in everything from targeted ads and ma...

sources

CAC: 互联网信息服务算法推荐管理规定

January 5, 2022

Smart manufacturing 14th FYP

Last Tuesday, eight ministries jointly released the 14th Five-Year Plan for Smart Manufacturing. The overarching goal: Digitize and automate the manufacturing sector. The FYP sets out a bunch of high-level strategies, including: Making technological breakthroughs in “chokehold” material…

Last Tuesday, eight ministries jointly released the 14th Five-Year Plan for Smart Manufacturing.
The overarching goal: Digitize and automate the manufacturing sector.
The FYP sets out a bunch of high-level strategies, including:

Making technological breakthroughs in “chokehold” material...

sources

Gov.cn: 八部门关于印发《“十四五”智能制造发展规划》的通知

January 5, 2022

RMB indexes get minor tune-up

On January 1, the China Foreign Exchange Trade System (CFETS) updated the basket weightings of three RMB indexes, namely: The CFETS RMB Index, which is updated annually The BIS Currency Basket RMB Index, which was most recently updated in April 2019 The SDR Currency Basket Index, which had remained…

On January 1, the China Foreign Exchange Trade System (CFETS) updated the basket weightings of three RMB indexes, namely:

The CFETS RMB Index, which is updated annually
The BIS Currency Basket RMB Index, which was most recently updated in April 2019
The SDR Currency Basket Index, which had remained...

sources

WeChat: 关于调整CFETS人民币汇率指数货币篮子权重的公告

Caixin: CFETS货币篮子权重第四次调整美元权重首次由降转升

January 5, 2022

What’s mine is yours

Russia is poised to provide China up to 52 million tons of coal in 2022 – up 38% y/y. That’s according to the Russian Ministry of Energy, which is looking at record-high annual production. The forecast is also in line with domestic Chinese forecasts of heightened Russian coal imports for the coming…

Russia is poised to provide China up to 52 million tons of coal in 2022 – up 38% y/y.

That's according to the Russian Ministry of Energy, which is looking at record-high annual production.
The forecast is also in line with domestic Chinese forecasts of heightened Russian coal imports for the coming...

sources

China Energy Network: 2022年俄罗斯煤炭产量将达4.5亿吨对华出口或增38%

International Coal Network: 动力煤价格将下行至何处

January 5, 2022

Digital yuan app launches on app stores

On Tuesday, the digital yuan (e-CNY) app was launched on both iOS and Android app stores after 14 months of beta testing. What’s the e-CNY app? It’s a central bank-developed digital wallet for e-CNY. The app has only one function – making and receiving e-CNY payments. Don’…

On Tuesday, the digital yuan (e-CNY) app was launched on both iOS and Android app stores after 14 months of beta testing.
What’s the e-CNY app? It’s a central bank-developed digital wallet for e-CNY.

The app has only one function – making and receiving e-CNY payments.

Don’...

sources

Caixin: 数字人民币App上架 12个试点地白名单用户可注册

January 5, 2022

PBoC outlines risk management tools

On December 31, the People’s Bank of China (PBoC) released guidelines that outline financial regulators’ approach to addressing macroeconomic and financial risks. According to the PBoC (Gov.cn): “Our macroprudential policy is aimed at being macro-focused, countercyclical, and contagion-resistant.” …

On December 31, the People’s Bank of China (PBoC) released guidelines that outline financial regulators’ approach to addressing macroeconomic and financial risks.
According to the PBoC (Gov.cn):

“Our macroprudential policy is aimed at being macro-focused, countercyclical, and contagion-resistant.”
...

sources

Gov.cn: 宏观审慎政策指引

21st Century Biz: 宏观审慎政策指引出台！央行：加强系统重要性金融机构和金融控股公司监管

January 5, 2022

Regulatory crackdown coming soon to a brokerage near you

On Wednesday, Sun Tianqi, director of the Financial Stability Bureau at the central bank, once again called out online brokerages that lack mainland operational licenses. Some context: In November, Sun first called out brokerage services that allow mainland users to trade overseas stocks without the…

On Wednesday, Sun Tianqi, director of the Financial Stability Bureau at the central bank, once again called out online brokerages that lack mainland operational licenses.
Some context: In November, Sun first called out brokerage services that allow mainland users to trade overseas stocks without the...

sources

Sina: 孙天琦：关于金融风险“早识别、早预警、早发现、早处置”的思考

21st Century Biz: 央行孙天琦：高风险机构早期纠正不能成为摆设

January 5, 2022

SenseTime senses time

On December 30, SenseTime successfully launched its IPO in Hong Kong. Recap: On December 10, a week before SenseTime’s planned IPO, the US Treasury placed the company on the Chinese Military-Industrial Complex blacklist, banning US persons from buying or selling SenseTime’s publicly traded securiti…

On December 30, SenseTime successfully launched its IPO in Hong Kong.
Recap: On December 10, a week before SenseTime's planned IPO, the US Treasury placed the company on the Chinese Military-Industrial Complex blacklist, banning US persons from buying or selling SenseTime's publicly traded securiti...

sources

HKEX: 發售價及配發結果公告

January 4, 2022

Helping the little guy

On Saturday, the People’s Bank of China (PBoC) announced two efforts to support small and micro businesses. The deets: First, the PBoC will extend a pandemic-catalyzed loan deferment program – along with principal and interest payment support – until June 30, 2023. Second, it will roll over its RMB…

On Saturday, the People's Bank of China (PBoC) announced two efforts to support small and micro businesses.
The deets:

First, the PBoC will extend a pandemic-catalyzed loan deferment program – along with principal and interest payment support – until June 30, 2023.
Second, it will roll over its RMB...

sources

Gov.cn: 人民银行实施两项直达工具接续转换加大对小微企业支持力度

PBoC: 人民银行实施两项直达工具接续转换加大对小微企业支持力度

Reuters: China implements new schemes for banks to support small businesses

January 4, 2022

Yi-sy does it

On Thursday, People’s Bank of China (PBoC) Governor Yi Gang sat down with state media for a lookahead interview. Yi’s message: Slow, steady, stable. According to Yi, the near-term is full of obstacles (Gov.cn): “Given the impact of demand contraction, supply shocks, and weakened expectations, China…

“Given the impact of demand contraction, supply shocks, and weakened expectations, China...

sources

Gov.cn: “稳”字上下功夫增强服务实体经济能力——访中国人民银行行长易纲

January 4, 2022

New rules, same story

On December 24, the securities regulator (CSRC) released the State Council Opinions on Domestic Companies Issuing Securities and Offering Shares Abroad (Draft for comments). ICYMI: Not a single Chinese company has gone public in the US – by far the largest non-Hong Kong overseas destination for Chin…

On December 24, the securities regulator (CSRC) released the State Council Opinions on Domestic Companies Issuing Securities and Offering Shares Abroad (Draft for comments).
ICYMI: Not a single Chinese company has gone public in the US – by far the largest non-Hong Kong overseas destination for Chin...

sources

Gov.cn: 证监会就境外上市相关制度规则公开征求意见

WSJ: China’s Securities Regulator Lays Out Overseas Listing Rules

January 4, 2022

Ja-karta be kidding me

Effective New Year’s Eve, Indonesia – China’s largest source of coal imports – has banned coal exports. The deets: The ban is currently set to last one month, through the end of January, as Indonesia shores up scarce domestic reserves amid blackout fears. That’s big news for China: Indonesia account…

Effective New Year's Eve, Indonesia – China's largest source of coal imports – has banned coal exports.
The deets: The ban is currently set to last one month, through the end of January, as Indonesia shores up scarce domestic reserves amid blackout fears.
That's big news for China: Indonesia account...

sources

International Coal Network: 印尼突然宣布禁止煤炭出口1个月，占我国煤炭进口超60%

S&P Global: Indonesian coal producers to declare force majeure amid ban on exports in Jan

Bloomberg: Indonesia Coal Export Ban May Have Low Impact on Top Buyer China

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