string(13) "markets-macro"

Macro

November 19, 2021

SenseTime to attempt Hong Kong IPO

Yesterday, rumors began swirling that Chinese AI unicorn SenseTime is now pursuing an IPO in Hong Kong after consulting with mainland regulators. Background: On Sunday, the CAC released new data security regulations indicating that data-heavy companies seeking to IPO in Hong Kong would n… Username Password Remember Me Forgot Password

Yesterday, rumors began swirling that Chinese AI unicorn SenseTime is now pursuing an IPO in Hong Kong after consulting with mainland regulators.
Background: On Sunday, the CAC released new data security regulations indicating that data-heavy companies seeking to IPO in Hong Kong would n...

sources

Sina: 人工智能“独角兽”商汤科技，传今日寻求港交所聆讯

November 19, 2021

China to release crude oil reserves

On Thursday, the National Food and Strategic Reserves Administration (NFSRA) announced that it is working on a new release of crude oil reserves. Important context: China issued its first public auction of national crude oil reserves to domestic refineries on September 24. The unprecedented auction…

On Thursday, the National Food and Strategic Reserves Administration (NFSRA) announced that it is working on a new release of crude oil reserves.
Important context: China issued its first public auction of national crude oil reserves to domestic refineries on September 24.

The unprecedented auction...

sources

Reuters: 中国国储局正在进行原油储备释放工作

Zaobao: 中国国储局据报正开展原油储备释放工作

Reuters: U.S. asks Japan, China, others to consider tapping oil reserves

November 19, 2021

Shanghai drills down into marketing algorithm regulations

On Thursday, the Shanghai Municipal Market Supervision Bureau issued trial regulations on marketing algorithms used by online shopping platforms. Some context: In August, the CAC released draft regs governing algorithms more broadly — Shanghai’s rules are a local-level follow up. They a…

On Thursday, the Shanghai Municipal Market Supervision Bureau issued trial regulations on marketing algorithms used by online shopping platforms.
Some context: In August, the CAC released draft regs governing algorithms more broadly — Shanghai’s rules are a local-level follow up.

They a...

sources

STCN: 上海出台网络营销活动算法应用指引严禁大数据“杀熟”

Shanghai.gov: 上海市市场监督管理局关于印发《上海市网络交易平台网络营销活动算法应用指引（试行）》的通知

November 19, 2021

Beware the exogenous

On Thursday, Sun Tianqi, director of the People’s Bank of China’s (PBoC’s) Financial Stability Bureau, spoke at a virtual banking forum. Some context: The forum, which we’ll translate as the 2021 Forum on High-quality Development in the Chinese Banking Industry, featured a bunch of banking industry …

On Thursday, Sun Tianqi, director of the People’s Bank of China’s (PBoC’s) Financial Stability Bureau, spoke at a virtual banking forum.
Some context: The forum, which we’ll translate as the 2021 Forum on High-quality Development in the Chinese Banking Industry, featured a bunch of banking industry ...

sources

The Paper: 央行金融稳定局局长：金融业风险正从内生风险向外生风险转变

November 19, 2021

Righting Huarong

On Wednesday, China Huarong Asset Management Co. published the details of its bailout plan. In a statement to the Hong Kong stock exchange, Huarong said that five investors will jointly inject RMB 42 billion by acquiring a mix of non-public domestic and H-shares. That’s less than the RMB 50 billion…

On Wednesday, China Huarong Asset Management Co. published the details of its bailout plan.
In a statement to the Hong Kong stock exchange, Huarong said that five investors will jointly inject RMB 42 billion by acquiring a mix of non-public domestic and H-shares.

That’s less than the RMB 50 billion...

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HKEX: Proposed Non-Public Issuance Of Domestic Shares And H Shares Under Specific Mandate

Caixin: Exclusive: Citic Group Likely to Become Huarong’s Biggest Shareholder

November 19, 2021

It’s all a-go for Yango

On Friday, 21st Century Biz reported that bondholders have approved a restructuring plan for developer Yango Group’s offshore dollar bonds. The approval came right down to the wire. The put option date on a 2023 dollar bond – one of three up for review – passed on Friday without the company paying …

On Friday, 21st Century Biz reported that bondholders have approved a restructuring plan for developer Yango Group’s offshore dollar bonds.
The approval came right down to the wire.

The put option date on a 2023 dollar bond – one of three up for review – passed on Friday without the company paying ...

sources

21st Century Biz: 阳光城债务延期成功“闯关”

Bloomberg: Chinese Developer Yango Scrambles to Avoid Missing Bond Payment

HKEX: Offer To Exchange And Solicitation Of Consents To Approve Amendments To The Indentures Governing The Following Debt Securities

November 19, 2021

Internet purification meetup

Today, Xi Jinping sent a congratulatory letter to mark the opening of the first ever China Network Civilization Conference. Recap: The Network Civilization Conference is all about ensuring online content and discourse is shaped according to the Party’s ethical and political ideals. What Xi sai…

Today, Xi Jinping sent a congratulatory letter to mark the opening of the first ever China Network Civilization Conference.
Recap: The Network Civilization Conference is all about ensuring online content and discourse is shaped according to the Party’s ethical and political ideals.
What Xi sai...

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Source: 习近平致信祝贺首届中国网络文明大会召开强调广泛汇聚向上向善力量共建网上美好精神家园

November 19, 2021

The 2021 Double 11 naughty list

Yesterday, the China Consumer’s Association issued a short report analyzing 5 million consumer complaints during the Double Eleven shopping holiday. According to CCA, consumers complained the most about: Deceptive pre-sale pricing: Customers who put down deposits during pre-sale periods — expecti…

Yesterday, the China Consumer's Association issued a short report analyzing 5 million consumer complaints during the Double Eleven shopping holiday.
According to CCA, consumers complained the most about:

Deceptive pre-sale pricing: Customers who put down deposits during pre-sale periods — expecti...

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CCA: 2021“双11”消费维权舆情分析报告

November 19, 2021

Secretive secret is a secret

Today’s Bloomberg Headline: “Secretive Chinese Committee Draws Up List to Replace U.S. Tech” “China is accelerating plans to replace American and foreign technology, quietly empowering a secretive government-backed organization to vet and approve local suppliers in sensitive areas from cloud to sem…

Today's Bloomberg Headline: "Secretive Chinese Committee Draws Up List to Replace U.S. Tech"

"China is accelerating plans to replace American and foreign technology, quietly empowering a secretive government-backed organization to vet and approve local suppliers in sensitive areas from cloud to sem...

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Bloomberg: Secretive Chinese Committee Draws Up List to Replace U.S. Tech

Sohu: 中科三方成为信息技术应用创新工作委员会会员单位

www.itaic.org.cn: 信创工委会简介

November 19, 2021

Deep dive | China property: Inching back from the edge

Be careful what you wish for. In the second half of 2020, Beijing rolled out new rules designed to rein in developers’ leverage, make housing more affordable, and reduce housing investment to a sustainable level. In recent months, those rules have really started to bite. Regulators are now worried …

Be careful what you wish for.
In the second half of 2020, Beijing rolled out new rules designed to rein in developers' leverage, make housing more affordable, and reduce housing investment to a sustainable level. In recent months, those rules have really started to bite.

Regulators are now worried ...

November 18, 2021

Lean, green, coal-fired machine

At Wednesday’s State Council executive meeting, Premier Li Keqiang and co. called for improvements to the “clean and efficient use of coal.” Irony is dead, we know. Don’t shoot the messenger. To the State Council, that means market-oriented support for: Safe, efficient, and intelligent mining Cle…

At Wednesday's State Council executive meeting, Premier Li Keqiang and co. called for improvements to the "clean and efficient use of coal."

Irony is dead, we know. Don't shoot the messenger.

To the State Council, that means market-oriented support for:

Safe, efficient, and intelligent mining
Cle...

sources

Gov.cn: 李克强主持召开国务院常务会议审议通过“十四五”推进国家政务信息化规划等

November 18, 2021

The Li-est, most Keqiang-iest speech ever

On Tuesday, Premier Li Keqiang attended the World Economic Forum’s (WEF) Special Virtual Dialogue with Global Business Leaders, addressing nearly 400 business bigwigs from around the world. Some context: Li has historically used WEF events as a platform to update the world on China’s economic openin…

On Tuesday, Premier Li Keqiang attended the World Economic Forum’s (WEF) Special Virtual Dialogue with Global Business Leaders, addressing nearly 400 business bigwigs from around the world.
Some context: Li has historically used WEF events as a platform to update the world on China’s economic openin...

sources

Gov.cn: 李克强出席世界经济论坛全球企业家特别对话会

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