string(13) "markets-macro"

Macro

December 15, 2021

Vaccine booster mix ‘n match

As of Tuesday, 2.63 billion COVID-19 vaccine doses had been administered in China – up from 2.567 billion doses a week ago. There are lots of unknowns: The official numbers do not indicate how many doses are round-three booster shots, nor do they break down the shots by specific vaccines. ICYMI: Chi… Username Password Remember… Read More »

As of Tuesday, 2.63 billion COVID-19 vaccine doses had been administered in China – up from 2.567 billion doses a week ago.
There are lots of unknowns: The official numbers do not indicate how many doses are round-three booster shots, nor do they break down the shots by specific vaccines.
ICYMI: Chi...

sources

Caixin: 张文宏：三针接种有益早日开放

Global Times: 新冠疫苗可以“混打”吗？中疾控专家来答疑

NHC: 新冠病毒疫苗接种情况

December 15, 2021

Money for young brains

Yesterday, the Ministry of Finance and the Ministry of Education updated the rules governing how state-affiliated universities should manage basic research expenditures. The new document replaces a 2016 version. ICYDK: China has 117 “state-owned” universities associated with various government min…

Yesterday, the Ministry of Finance and the Ministry of Education updated the rules governing how state-affiliated universities should manage basic research expenditures.

The new document replaces a 2016 version.

ICYDK: China has 117 “state-owned" universities associated with various government min...

sources

Gov.cn: 关于印发《中央高校基本科研业务费管理办法》的通知

December 15, 2021

No robot soldiers, please

Yesterday, the Ministry of Foreign Affairs (MoFA) released a position paper for the international community on the military use of artificial intelligence. The message: Hey guys, let’s all try not to weaponize AI. Some context: China is looking to become a leader in establishing global eth…

Yesterday, the Ministry of Foreign Affairs (MoFA) released a position paper for the international community on the military use of artificial intelligence.
The message: Hey guys, let’s all try not to weaponize AI.
Some context: China is looking to become a leader in establishing global eth...

sources

Chinese Ministry of Foreign Affairs: 中国关于规范人工智能军事应用的立场文件

December 15, 2021

Tang Min on big data equity investments for SMEs

Interesting thought alert. Yesterday, Tang Min, a member of the State Council and former chief economist at the Asia Development Bank in China, delivered a speech at the National Virtual Economy Seminar. What he said: China should be using big data to facilitate equity investment in SMEs. His take: …

Interesting thought alert.
Yesterday, Tang Min, a member of the State Council and former chief economist at the Asia Development Bank in China, delivered a speech at the National Virtual Economy Seminar.
What he said: China should be using big data to facilitate equity investment in SMEs.
His take: ...

sources

People.cn: 国务院参事汤敏：借助大数据技术提升小微企业的金融服务需求

December 15, 2021

Between a rock and a coal face

The National Development and Reform Commission’s (NDRC) “coal at all costs” policy is finally running afoul of mine safety regulators. On Sunday, the Shanxi branch of the National Mine Safety Administration issued a formal notice penalizing Jinneng Holding Group’s “illegal and irregular production,…

The National Development and Reform Commission's (NDRC) "coal at all costs" policy is finally running afoul of mine safety regulators.
On Sunday, the Shanxi branch of the National Mine Safety Administration issued a formal notice penalizing Jinneng Holding Group's "illegal and irregular production,...

sources

Caijing: “违规增产”，山西最大煤企遭罚

December 15, 2021

Industry, baby

On Tuesday, the National Development and Reform Commission (NDRC) and the Ministry of Industry and Information Technology (MIIT) released a notice outlining plans to boost the industrial sector. Let the bullet(point)s fly… The doc lists four high-level goals for stimulating Chinese industry: R…

On Tuesday, the National Development and Reform Commission (NDRC) and the Ministry of Industry and Information Technology (MIIT) released a notice outlining plans to boost the industrial sector.

Let the bullet(point)s fly...

The doc lists four high-level goals for stimulating Chinese industry:

R...

sources

news.cn: 两部门出台16条举措振作工业经济运行

Gov.cn: 关于振作工业经济运行推动工业高质量发展的实施方案的通知

December 15, 2021

CBIRC’s Christmas list

On Tuesday, the China Banking and Insurance Regulatory Commission (CBIRC) published its reflections on what the Central Economic Work Conference (CEWC) means for the year ahead. CBIRC said it would strive to: Increase medium- and long-term loans to manufacturers Increase support for small firms, te…

Increase medium- and long-term loans to manufacturers
Increase support for small firms, te...

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CBIRC: 银保监会党委传达学习中央经济工作会议精神

December 15, 2021

A shift in monetary policy?

On Tuesday, the People’s Bank of China (PBoC) published its reflections on the Central Economic Work Conference (CEWC). And – quelle surprise – it laid out a listicle of policy priorities for 2022. The PBoC said it would: Keep monetary policy flexible and reasonable Maintain liquidity at a reaso…

On Tuesday, the People’s Bank of China (PBoC) published its reflections on the Central Economic Work Conference (CEWC).

And – quelle surprise – it laid out a listicle of policy priorities for 2022.

The PBoC said it would:

Keep monetary policy flexible and reasonable
Maintain liquidity at a reaso...

sources

PBoC: 人民银行党委召开会议传达学习中央经济工作会议精神

December 15, 2021

Xiaopeng fined for illegal collection of face data

Ooooh, busted! Yesterday, news broke that Xiaopeng Motors was fined for illegally collecting facial recognition data on its customers. What happened: Carmaker Xiaopeng installed facial recognition cameras in 7 of its retail stores in Shanghai, collecting 430,000 customer photos without consent…

Ooooh, busted!
Yesterday, news broke that Xiaopeng Motors was fined for illegally collecting facial recognition data on its customers.
What happened: Carmaker Xiaopeng installed facial recognition cameras in 7 of its retail stores in Shanghai, collecting 430,000 customer photos without consent...

sources

Sina: 小鹏被罚！AI摄像头一装，43万用户照片被传后台分析计算

December 15, 2021

Quick take | Not the stimulus you seek: the anticlimactic backstory to the December RRR cut

Last week, the People’s Bank of China (PBoC) announced that it would cut banks’ reserve requirement ratios (RRRs) by 50 basis points. The policy comes into force on Wednesday, December 15, so now seems like a good time to explain to Neopol subscribers what’s happening – and why it matters. Bear with…

Last week, the People’s Bank of China (PBoC) announced that it would cut banks’ reserve requirement ratios (RRRs) by 50 basis points.
The policy comes into force on Wednesday, December 15, so now seems like a good time to explain to Neopol subscribers what’s happening – and why it matters.
Bear with...

December 14, 2021

Local governments to subsidize housing purchases

According to a report by the E-House Real Estate Research Institute issued Friday, housing inventory is at its highest since August 2016. The deets: By the end of November, the total inventory of newly built commercial properties in 100 cities nationwide was 521.1 million m2 – up 2.1% y/y. But not a…

According to a report by the E-House Real Estate Research Institute issued Friday, housing inventory is at its highest since August 2016.
The deets: By the end of November, the total inventory of newly built commercial properties in 100 cities nationwide was 521.1 million m2 – up 2.1% y/y.
But not a...

sources

Caixin: 全国住宅库存创五年新高三四线城市压力最大

Jiemian: 南宁买房最高补贴200万，三四线楼市迎来“鼓励购房”潮

December 14, 2021

Get to spendin’

On Monday, 21st Century Biz scooped that the Ministry of Finance (MoF) has okay’ed local governments to begin issuing special purpose bonds (SPBs) for 2022. Some context: Annual quotas for SPBs are finalized during the Two Sessions in March each year. But since 2019, MoF has allowed local government…

On Monday, 21st Century Biz scooped that the Ministry of Finance (MoF) has okay’ed local governments to begin issuing special purpose bonds (SPBs) for 2022.
Some context: Annual quotas for SPBs are finalized during the Two Sessions in March each year. But since 2019, MoF has allowed local government...

sources

21st Century Biz: 独家｜ 2022年提前批专项债额度已下达，可下达的最大额度为2.19万亿

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