string(13) "markets-macro"

Macro

November 30, 2021

Honor your commitments

On Monday, Premier Li Keqiang signed a State Council order promulgating new regulations for individuals and companies that violate China’s capital-market laws. We’re translating the law as the Implementation Measures for the Administrative Enforcement of Commitments in the Securities and Futures Ind… Username Password Remember Me Forgot Password

On Monday, Premier Li Keqiang signed a State Council order promulgating new regulations for individuals and companies that violate China’s capital-market laws.
We’re translating the law as the Implementation Measures for the Administrative Enforcement of Commitments in the Securities and Futures Ind...

sources

Gov.cn: 李克强签署国务院令公布《证券期货行政执法当事人承诺制度实施办法》

Gov.cn: 为完善资本市场基础制度建设提供法治保障——司法部、中国证监会负责人就《证券期货行政执法当事人承诺制度实施办法》有关问题答记者问

November 30, 2021

I promise to pay you back tomorrow

On Monday, under-the-pump Chinese property developer Fantasia found a little more room to breathe, with bondholders agreeing to extend the maturity on a 7.8%, RMB 730 million bond, whose early redemption was due on the same day. The deets: Investors agreed to delay the early redemption of the bond …

Investors agreed to delay the early redemption of the bond ...

sources

The Paper: 花样年：19花样02债本金获两年展期，80%利息展期一年

November 29, 2021

Tongzhi-Tovarich

Last Friday delivered several chummy developments in China-Russia relations. Xi Jinping and Russian President Vladimir Putin sent congratulatory letters to the closing ceremony of the China-Russia Year of Scientific and Technological Innovation. Xi lauded the initiative’s success (CGTN): “Xi…noted …

Last Friday delivered several chummy developments in China-Russia relations.
Xi Jinping and Russian President Vladimir Putin sent congratulatory letters to the closing ceremony of the China-Russia Year of Scientific and Technological Innovation.
Xi lauded the initiative’s success (CGTN):

“Xi…noted ...

sources

CGTN: Xi sends congratulatory letter as China-Russia Year of Scientific and Technological Innovation concludes

Gov.cn: China, Russia agree to enhance investment cooperation

National Interest: Russian and Chinese Ambassadors: Respecting People’s Democratic Rights

November 29, 2021

DiDi Di-listing?

On Friday, Bloomberg reported that the Cyberspace Administration of China (CAC) is pressuring Didi to propose a plan for delisting from the New York Stock Exchange, citing unnamed sources. Those sources said delisting is not a done deal, and “may still be walked back.” We’ve heard this befor…

On Friday, Bloomberg reported that the Cyberspace Administration of China (CAC) is pressuring Didi to propose a plan for delisting from the New York Stock Exchange, citing unnamed sources.

Those sources said delisting is not a done deal, and “may still be walked back.”

We’ve heard this befor...

sources

Bloomberg: China Asks Didi to Delist From U.S. On Security Fears

November 29, 2021

I am the very model of a modern major general, meeting every Party need both high-tech and political

You never know where you’ll spot the Susan Boyle of joint command operations. On Friday, Xi Jinping spoke at a Central Military Commission (CMC) conference on the importance of cultivating talent in China’s military (PLA). Some context: Military modernization is one of Xi’s most cherished projects. …

You never know where you’ll spot the Susan Boyle of joint command operations.
On Friday, Xi Jinping spoke at a Central Military Commission (CMC) conference on the importance of cultivating talent in China’s military (PLA).
Some context: Military modernization is one of Xi’s most cherished projects.
...

sources

Xinhua: 习近平在中央军委人才工作会议上强调聚焦实现建军一百年奋斗目标深入实施新时代人才强军战略

Xinhua: Xi stresses strengthening military talent cultivation

November 29, 2021

The end of poverty

Late last week, Vice Premier Hu Chunhua visited rural Shaanxi to see how poverty alleviation is holding up. ICYMI: Last December, Xi Jinping declared victory in a decade-long effort to eliminate extreme poverty. Now it’s time for a check-up. From Thursday to Saturday, Hu dropped by four areas near …

Late last week, Vice Premier Hu Chunhua visited rural Shaanxi to see how poverty alleviation is holding up.
ICYMI: Last December, Xi Jinping declared victory in a decade-long effort to eliminate extreme poverty.
Now it's time for a check-up.

From Thursday to Saturday, Hu dropped by four areas near ...

sources

Gov.cn: 胡春华在陕西督导国家乡村振兴重点帮扶县巩固拓展脱贫攻坚成果工作

November 29, 2021

Bye Beijing, hi Tongzhou

Forget the Forbidden City, come see the imperial Grand Canal! On Friday, the State Council released guidelines to support the high-quality development of Beijing’s new administrative sub-center in Tongzhou district 30 kilometers southeast of central Beijing. Some context: Xi Jinping and co. have pus…

Forget the Forbidden City, come see the imperial Grand Canal!
On Friday, the State Council released guidelines to support the high-quality development of Beijing’s new administrative sub-center in Tongzhou district 30 kilometers southeast of central Beijing.
Some context: Xi Jinping and co. have pus...

sources

State Council: 国务院关于支持北京城市副中心高质量发展的意见

November 29, 2021

The tech angle to improving healthcare for China’s elderly

On Saturday, the National Health Commission (NHC) dropped the Pilot Plan for Healthcare Services for the Elderly. The basics: A one-year pilot program to improve geriatric health services will be carried out in 15 cities and provinces, including Beijing and Shanghai. The program covers all the…

On Saturday, the National Health Commission (NHC) dropped the Pilot Plan for Healthcare Services for the Elderly.
The basics: A one-year pilot program to improve geriatric health services will be carried out in 15 cities and provinces, including Beijing and Shanghai. The program covers all the...

sources

Gov.cn: 国家卫生健康委办公厅关于开展老年医疗护理服务试点工作的通知

November 29, 2021

Tenpay fined for forex infractions

Last Friday, the Shenzhen Bureau of the State Administration of Foreign Exchange (SAFE) fined Tenpay technology – Tencent’s payments subsidiary – RMB 2.78 million, while confiscating RMB 2,000 in illegal gains. Tenpay, which received its foreign exchange business license in April 2020, slipped up in…

Last Friday, the Shenzhen Bureau of the State Administration of Foreign Exchange (SAFE) fined Tenpay technology – Tencent’s payments subsidiary – RMB 2.78 million, while confiscating RMB 2,000 in illegal gains.
Tenpay, which received its foreign exchange business license in April 2020, slipped up in...

sources

SAFE: 深外管检[2021]43号

Jin Rong Jie: 监管出手！腾讯财付通、农行、中信证券等被罚，最新回应来了

November 29, 2021

Is it crackdown, or market saturation?

Last Friday, Pinduoduo became the latest Chinese tech giant to report a disappointing quarter: Both the speed of revenue and user growth slowed significantly. One obvious potential culprit: The ongoing tech crackdown. But there’s another possibility: Big techs – Pinduoduo included – may be reachi…

Last Friday, Pinduoduo became the latest Chinese tech giant to report a disappointing quarter:

Both the speed of revenue and user growth slowed significantly.

One obvious potential culprit: The ongoing tech crackdown.
But there's another possibility: Big techs - Pinduoduo included - may be reachi...

sources

WeChat: 拼多多迈入慢增长通道

November 29, 2021

No, QR payment codes are not being banned

On Friday, local media reported that the PBoC will look to ban ubiquitous QR payment codes starting in March 2022. Some digital RMB-related stocks shot up 16%, the logic being that the measures would pave the way for China’s digital currency. Alas, the media report was mistaken. The reality:…

On Friday, local media reported that the PBoC will look to ban ubiquitous QR payment codes starting in March 2022.

Some digital RMB-related stocks shot up 16%, the logic being that the measures would pave the way for China’s digital currency.

Alas, the media report was mistaken.
The reality:...

sources

Xinhua: 中国人民银行：“微信、支付宝收款码不能用于经营收款”系误读

PBoC: 中国人民银行关于加强支付受理终端及相关业务管理的通知（银发〔2021〕259号）

November 29, 2021

A new personal credit ratings agency is on the way

On Friday, local media reported that the central bank (PBoC) approved a personal credit rating license for Qiantang Credit Rating, a joint venture between Ant Financial and six other companies. Ant will own 35% of the JV. Flashback: In September, Reuters reported that state-owned firms would…

On Friday, local media reported that the central bank (PBoC) approved a personal credit rating license for Qiantang Credit Rating, a joint venture between Ant Financial and six other companies.

Ant will own 35% of the JV.

Flashback: In September, Reuters reported that state-owned firms would...

sources

21st Century Biz: 央行公示钱塘征信个人征信申请，蚂蚁持股35%

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