string(13) "markets-macro"

Macro

December 15, 2021

Pride and Propaganda

On Tuesday, Xi Jinping hosted some artsy fartsy types at the Great Hall of the People. Xi wasn’t alone: He brought along his six fellow Politburo Standing Committee members. What was so important that China’s seven most powerful officials all had to attend? The 11th National Congress of China’s Fed… Username Password Remember Me … Read More »

On Tuesday, Xi Jinping hosted some artsy fartsy types at the Great Hall of the People.
Xi wasn't alone: He brought along his six fellow Politburo Standing Committee members.
What was so important that China's seven most powerful officials all had to attend? The 11th National Congress of China’s Fed...

sources

CCTV: 习近平在中国文联第十一次全国代表大会中国作协第十次全国代表大会开幕式上强调增强文化自觉坚定文化自信展示中国文艺新气象铸就中华文化新辉煌

December 15, 2021

Condolences for Kentucky

On Tuesday, Xi Jinping sent his condolences to US President Joe Biden following devastating tornadoes over the weekend. What happened: The tornadoes tore through Kentucky and five surrounding states, leaving at least 74 dead and more than 100 still missing, and causing heavy property damage. Xi…

On Tuesday, Xi Jinping sent his condolences to US President Joe Biden following devastating tornadoes over the weekend.
What happened: The tornadoes tore through Kentucky and five surrounding states, leaving at least 74 dead and more than 100 still missing, and causing heavy property damage.
Xi...

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Xinhua: 习近平就美国中部地区遭遇严重龙卷风灾害向美国总统拜登致慰问电

December 15, 2021

More state bodies pile on apps

The China Consumer’s Association (CCA) just named and shamed 50 apps that make it difficult for users to cancel accounts and unsubscribe from automatic notifications. So who’s on the naughty list? Basically everyone, including: Taobao Alipay Ele.me McDonald’s Tencent Video China Southern…

The China Consumer's Association (CCA) just named and shamed 50 apps that make it difficult for users to cancel accounts and unsubscribe from automatic notifications.
So who's on the naughty list? Basically everyone, including:

Taobao
Alipay
Ele.me
McDonald’s
Tencent Video
China Southern...

sources

People.cn: 中消协：多款外卖、约车类APP存在注销难、自动化推荐难退订问题

December 15, 2021

MIIT getting its important data in order

MIIT has finally provided a timeline for categorizing (some) important data under its regulatory purview! Hallelujah! Recap: China’s new cyber and data security laws have strict requirements for handling “important data” — but the law doesn’t clearly define what “important data” is. Companie…

MIIT has finally provided a timeline for categorizing (some) important data under its regulatory purview!

Hallelujah!

Recap: China’s new cyber and data security laws have strict requirements for handling “important data” — but the law doesn’t clearly define what “important data” is.

Companie...

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MIIT: 工业和信息化部办公厅关于组织开展工业领域数据安全管理试点工作的通知

December 15, 2021

Little to show for real estate policy easing

The main drag on November’s econ data was the continued fall in real estate activity. The roll call of real estate numbers makes for grim reading: Home sales fell 16.9% y/y, versus a 24.0% y/y fall in October. Home prices decreased 0.33% m/m in the 70 cities monitored by the NBS, versus a 0.25% m/m…

The main drag on November’s econ data was the continued fall in real estate activity.
The roll call of real estate numbers makes for grim reading:

Home sales fell 16.9% y/y, versus a 24.0% y/y fall in October.
Home prices decreased 0.33% m/m in the 70 cities monitored by the NBS, versus a 0.25% m/m...

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NBS: 2021年1—11月份全国房地产开发投资增长6.0%

NBS: 2021年11月份70个大中城市商品住宅销售价格变动情况

December 15, 2021

Data dump – econ data

China’s stats bureau published the monthly econ data for November on Wednesday. The headlines: Retail sales rose 3.9% y/y in November, down from 4.9% y/y growth in October. Fixed asset investment fell 2.4% y/y in November, compared with a 2.9% y/y fall in October. Value-added output at industrial f…

China’s stats bureau published the monthly econ data for November on Wednesday.
The headlines:

Retail sales rose 3.9% y/y in November, down from 4.9% y/y growth in October.
Fixed asset investment fell 2.4% y/y in November, compared with a 2.9% y/y fall in October.
Value-added output at industrial f...

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NBS: 2021年11月份社会消费品零售总额增长3.9%

NBS: 2021年1—11月份全国固定资产投资（不含农户）增长5.2%

December 15, 2021

CSRC on new overseas listing rules

On Monday, CSRC, the securities watchdog, held a study session for the recently concluded Central Economic Work Conference, China’s most important annual economic policy strategy meeting. What caught our eye: CSRC said it wants to speed up the release of new rules on overseas listing. Re…

On Monday, CSRC, the securities watchdog, held a study session for the recently concluded Central Economic Work Conference, China’s most important annual economic policy strategy meeting.
What caught our eye: CSRC said it wants to speed up the release of new rules on overseas listing.
Re...

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CSRC: 中国证监会党委传达学习贯彻中央经济工作会议精神

December 15, 2021

Didi’s new antitrust probe

On Monday, Caixin scooped that SAMR has begun an antitrust probe into the 2016 Didi-Uber China merger. This is not the first attempt to investigate the deal. Shortly after the merger announcement, MofCom, who was in charge of merger review then, said it will take a good look at the deal…

On Monday, Caixin scooped that SAMR has begun an antitrust probe into the 2016 Didi-Uber China merger.
This is not the first attempt to investigate the deal.

Shortly after the merger announcement, MofCom, who was in charge of merger review then, said it will take a good look at the deal...

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Caixin: 滴滴待过关

December 15, 2021

What are students getting app to?

On Monday, the Ministry of Education (MoE) announced a notice as a follow-up enforcement of the “Double Redcution” policy. The deets: Existing educational apps for core subject training in primary and secondary schools (which were banned in the “Double Reduction” policy) will be removed off shelf…

On Monday, the Ministry of Education (MoE) announced a notice as a follow-up enforcement of the "Double Redcution" policy.
The deets:

Existing educational apps for core subject training in primary and secondary schools (which were banned in the "Double Reduction" policy) will be removed off shelf...

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MOE: 加强教育移动互联网应用程序管理推动与“双减”政策衔接

MOE: 教育部发布教育APP备案管理办法

December 15, 2021

Ali loses bid for Unigroup restructuring

Remember how Bloomberg said that Alibaba was about to lose the bid to bail out indebted state-owned chipmaker Tsinghua Unigroup? Welp, they were right. Yesterday, indebted state-owned chipmaker Tsinghua Unigroup filed its restructuring plan with the Shanghai Stock Exchange… and Alibaba did…

Remember how Bloomberg said that Alibaba was about to lose the bid to bail out indebted state-owned chipmaker Tsinghua Unigroup?

Welp, they were right.

Yesterday, indebted state-owned chipmaker Tsinghua Unigroup filed its restructuring plan with the Shanghai Stock Exchange... and Alibaba did...

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Caixin: 紫光重整投资竞标结果出炉智路建广击败阿里

December 15, 2021

Wise Road Capital investment blocked by Washington

On Monday, the Committee on Foreign Investment in the United States (CFIUS) blocked Wise Road Capital’s takeover of Magnachip, a South Korean chip manufacturer focused on OLED display chips for smartphones and televisions. Who’s Wise Road Capital? It’s a semiconductor investment fund backed b…

It’s a semiconductor investment fund backed b...

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Caixin: 智路资本14亿美元收购美格纳遇挫国内基金获工业富联认缴

December 15, 2021

A RMB 3 million fine for Weibo

Yesterday, the CAC announced it is fining Sina Weibo RMB 3 million for allowing the distribution of illegal content on its platform. What illegal content, you ask? We don’t know, the CAC didn’t say. What we do know: The CAC called the chief content editor at Sina Weibo in for a chat, slapped them …

Yesterday, the CAC announced it is fining Sina Weibo RMB 3 million for allowing the distribution of illegal content on its platform.
What illegal content, you ask? We don't know, the CAC didn't say.
What we do know: The CAC called the chief content editor at Sina Weibo in for a chat, slapped them ...

sources

CAC: 国家网信办依法约谈处罚新浪微博

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