string(13) "markets-macro"

Macro

December 17, 2021

CEO LKQ

On Wednesday, from the Hall of Purple Light inside the Party’s Zhongnanhai HQ, Premier Li Keqiang addressed the “Global CEO Council” like a boss. Li virtually thanked Starbucks, Volkswagen, Dow, Cargill, Panasonic, and nearly 25 other Fortune 500 companies for their contributions to China’s moderniz… Username Password Remember Me Forgot Password

On Wednesday, from the Hall of Purple Light inside the Party's Zhongnanhai HQ, Premier Li Keqiang addressed the "Global CEO Council" like a boss.
Li virtually thanked Starbucks, Volkswagen, Dow, Cargill, Panasonic, and nearly 25 other Fortune 500 companies for their contributions to China’s moderniz...

sources

Gov.cn: 李克强出席“全球首席执行官委员会”对话会

December 17, 2021

Pension headaches

Han Zheng wants to ease the pension, baby. On Thursday, the Politburo Standing Committee member held a teleconference on unifying China’s private pension system. Han began by telling the audience why pensions matter (The Paper): “This work concerns the vital interests of vast numbers of emplo…

Han Zheng wants to ease the pension, baby.
On Thursday, the Politburo Standing Committee member held a teleconference on unifying China’s private pension system.
Han began by telling the audience why pensions matter (The Paper):

“This work concerns the vital interests of vast numbers of emplo...

sources

The Paper: 韩正：做到全国一盘棋，更好保障劳动者与退休人员养老保险权益

December 17, 2021

Minister of finance shows love for property tax pilots

On Tuesday, Securities Daily published a piece by Minister of Finance Liu Kun that calls for deepening property tax pilots. Securities Daily was quoting from remarks Liu delivered at a recent National People’s Congress Standing Committee (NPCSC) meeting. Some context: On October 23, the NPCSC author…

On Tuesday, Securities Daily published a piece by Minister of Finance Liu Kun that calls for deepening property tax pilots.
Securities Daily was quoting from remarks Liu delivered at a recent National People’s Congress Standing Committee (NPCSC) meeting.
Some context: On October 23, the NPCSC author...

sources

Securities Daily: 财政部部长刘昆：进一步深化房地产税改革试点

Reuters: China finance minister urges deeper property tax reforms - state media

December 17, 2021

Bad credit

On Thursday, the China Banking and Insurance Regulatory Commission (CBIRC) issued a notice aimed at fixing some problems with banks’ credit card businesses. According to the notice: “In recent times, some banks’ credit card operations have demonstrated… weak customer service, inadequate risk contro…

On Thursday, the China Banking and Insurance Regulatory Commission (CBIRC) issued a notice aimed at fixing some problems with banks’ credit card businesses.
According to the notice:

“In recent times, some banks' credit card operations have demonstrated… weak customer service, inadequate risk contro...

sources

CBIRC: 中国银保监会发布《关于进一步促进信用卡业务规范健康发展的通知(征求意见稿)》

CBIRC: 中国银保监会有关部门负责人就《关于进一步促进信用卡业务规范健康发展的通知（征求意见稿）》答记者问

December 17, 2021

We are all gathered here today…

Things are not looking good for (another!) one of China’s biggest developers. On Thursday, Bloomberg reported that Chinese banking regulators (CBIRC) are helping Shimao negotiate loan extensions with several trusts. Some context: On Monday, Bloomberg reported that Shimao Group had sold its commercia…

Things are not looking good for (another!) one of China's biggest developers.
On Thursday, Bloomberg reported that Chinese banking regulators (CBIRC) are helping Shimao negotiate loan extensions with several trusts.
Some context: On Monday, Bloomberg reported that Shimao Group had sold its commercia...

sources

Bloomberg: China Regulators in Talks With Shimao, Trusts on Loan Extension

December 17, 2021

The SPB quota arrives

Drumroll please! On Thursday, the Ministry of Finance (MOF) announced the preliminary special-purpose bond (SPB) quota for 2022. China’s provinces will be allowed to issue RMB 1.46 trillion worth of SPBs over the first few months of next year. That’s down from RMB 1.77 trillion in 2021, but higher …

Drumroll please!
On Thursday, the Ministry of Finance (MOF) announced the preliminary special-purpose bond (SPB) quota for 2022.

China’s provinces will be allowed to issue RMB 1.46 trillion worth of SPBs over the first few months of next year.
That’s down from RMB 1.77 trillion in 2021, but higher ...

sources

SCIO: 加强和完善地方政府债务管理情况国务院政策例行吹风会图文实录

December 17, 2021

Rhapsody in blue

Omicron has shuttered Zhejiang province’s cobalt production, pushing prices to a three-year high. On Thursday, Caixin reported that two cobalt salt producers in Zhejiang – which together provide 14% of national supply – had completely closed due to the emergence of the new COVID-19 variant. The pla…

Omicron has shuttered Zhejiang province's cobalt production, pushing prices to a three-year high.
On Thursday, Caixin reported that two cobalt salt producers in Zhejiang – which together provide 14% of national supply – had completely closed due to the emergence of the new COVID-19 variant.

The pla...

sources

Caixin: 浙江疫情导致工厂停产国内钴价飙涨

December 17, 2021

SenseTime relaunches HK IPO

On Thursday, Reuters reported that AI unicorn SenseTime will relaunch its Hong Kong IPO as early as Monday. Quick refresher: Last week, the US put SenseTime on an investment blacklist, forcing the company to hit pause on its IPO as it assessed the potential damage. Assessment says: Not much damage….

On Thursday, Reuters reported that AI unicorn SenseTime will relaunch its Hong Kong IPO as early as Monday.
Quick refresher: Last week, the US put SenseTime on an investment blacklist, forcing the company to hit pause on its IPO as it assessed the potential damage.
Assessment says: Not much damage....

sources

Reuters: SenseTime plans Hong Kong IPO relaunch Monday, sources say

December 17, 2021

Sanctioning brain control

It’s a sanctions extravaganza! Yesterday, the US Department of Treasury (DoT) and the Department of Commerce (DoC) announced two separate sets of sanctions against a group of Chinese research and commercial entities. Sanctions batch 1: DoT added eight companies to its Chinese Military-Industrial Com…

It's a sanctions extravaganza!
Yesterday, the US Department of Treasury (DoT) and the Department of Commerce (DoC) announced two separate sets of sanctions against a group of Chinese research and commercial entities.
Sanctions batch 1: DoT added eight companies to its Chinese Military-Industrial Com...

sources

US Commerce Department: Addition of Certain Entities to the Entity List and Revision of an Entry on the Entity List

US Commerce Department: Commerce Acts to Deter Misuse of Biotechnology, Other U.S. Technologies by the People’s Republic of China to Support Surveillance and Military Modernization that Threaten National Security

US Treasury: Non-SDN Chinese Military-Industrial Complex Companies (NS-CMIC) List Updates; Administrative Updates to the SDN, Consolidated, NS-CMIC, and SSI Lists

US Treasury: Treasury Identifies Eight Chinese Tech Firms as Part of The Chinese Military-Industrial Complex

December 17, 2021

Is ByteDance exporting Chinese algorithm governance standards?

On Thursday, TikTok announced changes to its algorithmic recommendation engine and user customization options. TikTok is the international version of Douyin – the two apps share a common foundational code base. What’s the issue? Concern over the potential negative impacts of algor…

On Thursday, TikTok announced changes to its algorithmic recommendation engine and user customization options.

TikTok is the international version of Douyin – the two apps share a common foundational code base.

What’s the issue? Concern over the potential negative impacts of algor...

sources

TikTok: An update on our work to safeguard and diversify recommendations

CAC: 国家互联网信息办公室关于《互联网信息服务算法推荐管理规定（征求意见稿）》公开征求意见的通知

December 17, 2021

Bing (again) unavailable in China

Today, a statement on Microsoft’s search engine Bing said that the site was “required by the relevant government agency to suspend the search auto suggestion feature in mainland China for 30 days”. Our take: No word on what specific circumstances led regulators to demand the suspension of search au…

Today, a statement on Microsoft's search engine Bing said that the site was “required by the relevant government agency to suspend the search auto suggestion feature in mainland China for 30 days”.
Our take: No word on what specific circumstances led regulators to demand the suspension of search au...

sources

Sina: 必应在内地暂停搜索自动建议功能：30天不能用

December 17, 2021

Deep dive | Brick by brick: bringing down big tech’s Walled Gardens

In 2013, Tencent suspended a slew of WeChat accounts owned by Taobao advertisers who were spamming WeChat users. In retaliation, Alibaba – which owns Taobao – cut off WeChat Pay as a payment method on its commerce platform Taobao. These moves kicked off an eight-year battle, with each platform…

In 2013, Tencent suspended a slew of WeChat accounts owned by Taobao advertisers who were spamming WeChat users. In retaliation, Alibaba – which owns Taobao – cut off WeChat Pay as a payment method on its commerce platform Taobao.
These moves kicked off an eight-year battle, with each platform...

sources

Xinhua: 积极营造公平公正的良好环境为中小企业“铺路”“赋能”——访工业和信息化部部长肖亚庆

Caijing: 王健：完全的互联互通不可行，也不必要

Caixin: 工信部将分步骤、分阶段整治互联网屏蔽网址链接

Sohu: 阿里系开始接入微信支付了！不过，互联网大厂的开放力度还是有点慢啊

The Motley Fool: Tencent Holding Ltd. (TCEHY) Q2 2021 Earnings Call Transcript

The Motley Fool: Tencent Holding Ltd. (TCEHY) Q3 2021 Earnings Call Transcript

The Motley Fool: Alibaba Group Holding Ltd. (BABA) Q1 2022 Earnings Call Transcript

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