string(13) "markets-macro"

Macro

December 17, 2021

Online janitors

On Wednesday, the Cyberspace Administration of China (CAC) posted a wrap-up of influencer accounts that have been closed by various social media platforms due to spreading info that runs counter to socialist core values. Total number of accounts closed: Around 20,000 Key examples of closed accounts… Username Password Remember Me Forgot Password

On Wednesday, the Cyberspace Administration of China (CAC) posted a wrap-up of influencer accounts that have been closed by various social media platforms due to spreading info that runs counter to socialist core values.
Total number of accounts closed: Around 20,000
Key examples of closed accounts...

sources

Gov.cn: 国家互联网信息办公室部署推进“清朗·互联网用户账号运营乱象专项整治行动”

Gov.cn: 关于进一步压实网站平台信息内容管理主体责任的意见

Gov.cn: 国家网信办指导督促网站平台依法处置违法违规“头部账号”

December 17, 2021

The digital economy vs. the industrial economy

Yesterday, MIIT Minister Xiao Yaqing published an essay in the Party’s top theoretical magazine, Qiushi. Some key quotes: “[We must] keep the proportion of manufacturing industry basically stable. “[In 2006], manufacturing as a proportion of GDP reached its peak of 32.45%, but has since shown a do…

Yesterday, MIIT Minister Xiao Yaqing published an essay in the Party's top theoretical magazine, Qiushi.
Some key quotes:

"[We must] keep the proportion of manufacturing industry basically stable.
"[In 2006], manufacturing as a proportion of GDP reached its peak of 32.45%, but has since shown a do...

sources

MIIT: 肖亚庆《求是》杂志撰文：新征程上再创工业和信息化发展新辉煌

December 17, 2021

Flash Talk | Sweet ‘rithms: A crash course in China’s emerging approach to algorithm ethics

It’s no secret: a large and growing portion of our lives – both online and offline – are governed by algorithms. But very few countries have begun to define the rules that will ensure that algorithms are fair, transparent, and accountable. Over the past several years, Chinese policymakers have begun…

It's no secret: a large and growing portion of our lives – both online and offline – are governed by algorithms. But very few countries have begun to define the rules that will ensure that algorithms are fair, transparent, and accountable.
Over the past several years, Chinese policymakers have begun...

December 17, 2021

Tencent gets approval to update its apps

Today, Tencent told the South China Morning Post that nine of its apps had been given approval by MIIT to continue issuing updates in app stores. Background: Three weeks ago, after years of naming and shaming Tencent apps for violating user data collection rules to little effect, the agency finally…

Today, Tencent told the South China Morning Post that nine of its apps had been given approval by MIIT to continue issuing updates in app stores.
Background: Three weeks ago, after years of naming and shaming Tencent apps for violating user data collection rules to little effect, the agency finally...

sources

SCMP: China tech crackdown: Tencent gets regulatory greenlight to resume updates for nine apps after three-week suspension

December 17, 2021

The talent competition is on

On Wednesday, the Party’s top journal, Qiushi, published a speech by Xi Jinping at the Central Talent Work Conference back in September. We now know Xi told officials that foreign talent is key to China’s next phase of growth (Qiushi): “China’s development needs the participation of talent from all…

On Wednesday, the Party’s top journal, Qiushi, published a speech by Xi Jinping at the Central Talent Work Conference back in September.
We now know Xi told officials that foreign talent is key to China’s next phase of growth (Qiushi):

“China's development needs the participation of talent from all...

sources

Qiushi: 深入实施新时代人才强国战略　加快建设世界重要人才中心和创新高地

December 17, 2021

Russia and China: Guardians of Democracy

No, it’s not Guns N’ Roses’ new album title. On Wednesday, Xi Jinping and Russian President Vladimir Putin – two mighty pillars of global democracy – sat down for a video chat. Their call resounded with backslapping and brotherly bonhomie: The two leaders hailed “model ties” between the two countri…

No, it’s not Guns N’ Roses’ new album title.
On Wednesday, Xi Jinping and Russian President Vladimir Putin – two mighty pillars of global democracy – sat down for a video chat.
Their call resounded with backslapping and brotherly bonhomie:

The two leaders hailed “model ties” between the two countri...

sources

Xinhua: Xi, Putin hail "model" bilateral ties, vow to uphold int'l fairness

December 17, 2021

China’s ice-capades

On Tuesday, Han Zheng, the Party’s point man for the Olympics and a Politburo Standing Committee member, inspected preparations for the Beijing Winter Olympics and Paralympics. Han’s mantra for the Games is three-fold (Gov.cn): “Simple, safe, and splendid.” Oh, and don’t forget to: “Strive for pe…

On Tuesday, Han Zheng, the Party's point man for the Olympics and a Politburo Standing Committee member, inspected preparations for the Beijing Winter Olympics and Paralympics.
Han’s mantra for the Games is three-fold (Gov.cn):

"Simple, safe, and splendid."

Oh, and don't forget to:

“Strive for pe...

sources

Gov.cn: 韩正在北京调研冬奥会、冬残奥会筹办工作

December 16, 2021

Fair and balanced?

Xi Jinping made an appearance on Wednesday at the China Journalism Award presentation conference. Also at the conference, Huang Kunming, head of what the Party calls its “Publicity Department” in English (“Propaganda Department” in Chinese), spurred on journalists to (Xinhua): “Actively sprea…

Xi Jinping made an appearance on Wednesday at the China Journalism Award presentation conference.
Also at the conference, Huang Kunming, head of what the Party calls its “Publicity Department” in English ("Propaganda Department" in Chinese), spurred on journalists to (Xinhua):

“Actively sprea...

sources

Xinhua: 习近平会见中华全国新闻工作者协会第十届理事会第一次会议暨中国新闻奖颁奖会代表李克强王沪宁参加会见

December 16, 2021

Manufacturing a high-quality sector

Helping cash-strapped small businesses wasn’t the only thing Premier Li Keqiang talked about at Wednesday’s executive meeting of the State Council. Also on the agenda: Supporting the manufacturing industry. Some context: The 14th Five-Year Plan issued in March laid out some pretty ambitious goals fo…

Helping cash-strapped small businesses wasn’t the only thing Premier Li Keqiang talked about at Wednesday’s executive meeting of the State Council.
Also on the agenda: Supporting the manufacturing industry.
Some context: The 14th Five-Year Plan issued in March laid out some pretty ambitious goals fo...

sources

Gov.cn: 李克强主持召开国务院常务会议部署进一步采取市场化方式加强对中小微企业的金融支持等

December 16, 2021

Buying your way to seniority

On Wednesday, Reuters reported that a group of Kaisa’s offshore bondholders – who collectively hold some USD 5.5 billion in Kaisa’s offshore bonds – had put together USD 1 billion to acquire non-performing loans (NPLs) from Kaisa’s onshore creditors. ICYMI: Kaisa failed to pay USD 400 million in bon…

On Wednesday, Reuters reported that a group of Kaisa’s offshore bondholders – who collectively hold some USD 5.5 billion in Kaisa's offshore bonds – had put together USD 1 billion to acquire non-performing loans (NPLs) from Kaisa’s onshore creditors.
ICYMI: Kaisa failed to pay USD 400 million in bon...

sources

Reuters: Offshore Kaisa bondholders look to buy its China bad loans -sources

December 16, 2021

Officials dial up capital outflows, a touch

Officials have been busy tweaking capital flows to counterbalance rapid CNY appreciation. On Wednesday, China’s forex regulator (SAFE) raised the quota on the QDII outbound investment program by USD 3.5 billion. After the increase, the total quota stands at USD 157.519 billion. &nb…

Officials have been busy tweaking capital flows to counterbalance rapid CNY appreciation.
On Wednesday, China's forex regulator (SAFE) raised the quota on the QDII outbound investment program by USD 3.5 billion.

After the increase, the total quota stands at USD 157.519 billion. &nb...

sources

SAFE: 合格境内机构投资者（QDII）投资额度审批情况表（截至2021年12月15日）

December 16, 2021

A planner in the works

On Tuesday, the National Development and Reform Commission (NDRC) published a read-out of a big videoconference the state planner held over the weekend. Why it matters: The NDRC used the meeting to list out its top priorities for the coming year. Check this: The planner’s top priorities came almost …

On Tuesday, the National Development and Reform Commission (NDRC) published a read-out of a big videoconference the state planner held over the weekend.
Why it matters: The NDRC used the meeting to list out its top priorities for the coming year.
Check this: The planner's top priorities came almost ...

sources

NDRC: 深入贯彻党的十九届六中全会和中央经济工作会议精神扎实做好明年发展改革工作——全国发展和改革工作会议在京召开

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