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Macro

December 14, 2021

Deep dive | The Party sets its economic strategy for 2022

China’s most important annual economic policy strategy meeting concluded on Friday. Senior Party and state economic officials, including Xi Jinping, gathered for three days at this year’s Central Economic Work Conference (CEWC) to discuss the trajectory of economic policy going forward. As we wrote… Username Password Remember Me Forgot Password

China’s most important annual economic policy strategy meeting concluded on Friday.

Senior Party and state economic officials, including Xi Jinping, gathered for three days at this year’s Central Economic Work Conference (CEWC) to discuss the trajectory of economic policy going forward.
As we wrote...

December 13, 2021

Another one bites the dust

On Thursday, the government of Nicaragua cut diplomatic ties with Taiwan, switching recognition to Beijing. Nicaraguan representative Laureano Ortega met with Chinese Vice Foreign Minister Ma Zhaoxu in Tianjin to sign the paperwork. Ma said it was the beginning of a beautiful friendship (MoFA): “…

On Thursday, the government of Nicaragua cut diplomatic ties with Taiwan, switching recognition to Beijing.

Nicaraguan representative Laureano Ortega met with Chinese Vice Foreign Minister Ma Zhaoxu in Tianjin to sign the paperwork.

Ma said it was the beginning of a beautiful friendship (MoFA):

“...

sources

Reuters: Nicaragua breaks ties with Taiwan, switches allegiance to Beijing

MoFA: Vice Foreign Minister Ma Zhaoxu Holds Talks with Representative of Nicaraguan Government Laureano Ortega

Taiwan MoFA: The R.O.C. (Taiwan) government deeply regrets that Nicaragua has accepted the “one-China principle” and established diplomatic ties with China

December 13, 2021

CCP fights “the fallacies of division and composition”

How do senior policymakers plan to help businesses when China’s economic outlook is dim? Last week’s Central Economic Work Conference (CEWC) decided the way to go is to cozy up to companies. The meeting readout included these measures (gov.cn): More fee and tax cuts for businesses, with SMEs and ma…

How do senior policymakers plan to help businesses when China's economic outlook is dim?
Last week’s Central Economic Work Conference (CEWC) decided the way to go is to cozy up to companies.
The meeting readout included these measures (gov.cn):

More fee and tax cuts for businesses, with SMEs and ma...

sources

Gov.cn: 中央经济工作会议举行习近平李克强作重要讲话

Xinhua: 稳字当头、稳中求进，在高质量发展路上坚定前行——韩文秀解读2021年中央经济工作会议精神

December 13, 2021

Slow down that net zero train!

On Friday, the central leadership concluded its annual three-day Central Economic Work Conference (CEWC), where officials sought to slightly recalibrate the approach to net zero. Some context: Last year, Xi Jinping pledged that China will reach peak carbon emissions before 2030 and reach carbon neut…

On Friday, the central leadership concluded its annual three-day Central Economic Work Conference (CEWC), where officials sought to slightly recalibrate the approach to net zero.
Some context: Last year, Xi Jinping pledged that China will reach peak carbon emissions before 2030 and reach carbon neut...

sources

Xinhua: 中央经济工作会议在北京举行习近平李克强作重要讲话栗战书汪洋王沪宁赵乐际韩正出席会议

Sina: 重磅！中财办副主任韩文秀：要防止两个谬误

December 13, 2021

Policymakers signal big stimulus ain’t comin’

We’re going to give a fuller rundown of the CEWC to readers later today – so be on the lookout – but for now, we wanted to quickly highlight the key short-term policy priorities that officials focused on at the meeting. To start, they acknowledged that the economy is facing some pretty serious chall…

We’re going to give a fuller rundown of the CEWC to readers later today – so be on the lookout – but for now, we wanted to quickly highlight the key short-term policy priorities that officials focused on at the meeting.
To start, they acknowledged that the economy is facing some pretty serious chall...

sources

Gov.cn: 中央经济工作会议举行习近平李克强作重要讲话

December 13, 2021

Economic policymakers set the course for 2022 and beyond

China econ nerds rejoice! Why’s that? Surely we don’t have to tell you that the 2021 Central Economic Work Conference (CEWC) wrapped up on Friday. Some context: The CEWC is the Party’s most important economic strategy meeting each year. It’s where all the economic bigwigs get together to set the m…

China econ nerds rejoice! Why’s that?

Surely we don’t have to tell you that the 2021 Central Economic Work Conference (CEWC) wrapped up on Friday.

Some context: The CEWC is the Party’s most important economic strategy meeting each year. It’s where all the economic bigwigs get together to set the m...

sources

Gov.cn: 中央经济工作会议举行习近平李克强作重要讲话

December 13, 2021

No magic beans

Top leadership signaled significant concerns about reliance on international markets for food, energy, and resources at the 2021 Central Economic Work Conference (CEWC). Some context: The annual CEWC brings together top state and Party leadership – including Xi Jinping – to set the economic policy …

Top leadership signaled significant concerns about reliance on international markets for food, energy, and resources at the 2021 Central Economic Work Conference (CEWC).
Some context: The annual CEWC brings together top state and Party leadership – including Xi Jinping – to set the economic policy ...

sources

People's Daily: 中央经济工作会议在北京举行

People's Daily: “那么粮食怎么办？”（微镜头·习近平总书记在中央经济工作会议上）

21st Century Biz: 重磅！中财办韩文秀权威解读中央经济工作会议：防止出现两个谬误

December 13, 2021

With a little help from my friends

On Friday, the Shanghai branch of the People’s Bank of China, along with a few other local regulators, asked banks and developers to support affordable housing. ICYMI: Last week, at the Politburo’s monthly meeting, the bigwigs threw their weight behind building more affordable housing. Shanghai regu…

On Friday, the Shanghai branch of the People’s Bank of China, along with a few other local regulators, asked banks and developers to support affordable housing.
ICYMI: Last week, at the Politburo's monthly meeting, the bigwigs threw their weight behind building more affordable housing.
Shanghai regu...

sources

Yicai: 央行上海总部：采取有效措施更好满足保障性住房建设和商品房市场合理融资需求

Reuters: China’s central bank urges backing for affordable housing in Shanghai

December 13, 2021

On the naughty list

On Friday, the China Banking and Insurance Regulatory Commission (CBIRC) published a list of 15 shareholders in financial institutions who have abused their positions as shareholders. ICYMI: This is the fourth time that the CBIRC has named and shamed shareholders. In May, the regulator named 19 sha…

On Friday, the China Banking and Insurance Regulatory Commission (CBIRC) published a list of 15 shareholders in financial institutions who have abused their positions as shareholders.
ICYMI: This is the fourth time that the CBIRC has named and shamed shareholders.

In May, the regulator named 19 sha...

sources

CBIRC: 中国银保监会公开第四批重大违法违规股东

December 13, 2021

Accentuate the positive

On Saturday, Lou Jiwei – a former finance minister – complained that China’s economic statistics don’t adequately reflect the negative forces impacting economic growth (Bloomberg). Some context: Lou was finance minister from 2013 to 2016, and then headed China’s pension fund until 2019. Lou has a r…

On Saturday, Lou Jiwei – a former finance minister – complained that China’s economic statistics don’t adequately reflect the negative forces impacting economic growth (Bloomberg).
Some context: Lou was finance minister from 2013 to 2016, and then headed China’s pension fund until 2019.

Lou has a r...

sources

Bloomberg: China’s Stats Accentuate Positive, Play Down Negatives, Lou Says

December 13, 2021

How to break out of a chokehold

On Saturday, Guancha published a lengthy piece based on an interview with economist Fan Gang, addressing his views on how China should approach making breakthroughs on “chokehold technologies.” What are “chokehold technologies”? It’s critical tech that China has not yet mastered and needs to import …

On Saturday, Guancha published a lengthy piece based on an interview with economist Fan Gang, addressing his views on how China should approach making breakthroughs on "chokehold technologies."
What are “chokehold technologies”? It’s critical tech that China has not yet mastered and needs to import ...

sources

Guancha: 经济学家樊纲：解决卡脖子难题，我们要做好哪些工作？

December 13, 2021

SenseTime on investment blacklist

Welp, it happened. On Friday, the Biden administration put China’s largest AI unicorn SenseTime on “Chinese Military-Industrial Complex Companies List.” What that means: The sanction will only bar American investment in SenseTime. It won’t directly impact the AI giant’s supply chain. But: The…

Welp, it happened.
On Friday, the Biden administration put China’s largest AI unicorn SenseTime on “Chinese Military-Industrial Complex Companies List.”
What that means: The sanction will only bar American investment in SenseTime. It won’t directly impact the AI giant’s supply chain.
But: The...

sources

Sina: 商汤被美国列入“军工复合体企业清单”，如何反击？

Bloomberg: SenseTime Plans to Proceed With Hong Kong IPO Despite Sanctions

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