string(13) "markets-macro"

Macro

November 15, 2021

Sunac raises cash

On Sunday, developer Sunac China Holdings said that it had raised almost USD 1 billion via equity sales (HKEX): The Hong Kong-listed firm said that it raised USD 653 million by issuing 335 million new shares. It raised an additional USD 300 million by selling 158 million shares in its property mana… Username Password Remember… Read More »

On Sunday, developer Sunac China Holdings said that it had raised almost USD 1 billion via equity sales (HKEX):

The Hong Kong-listed firm said that it raised USD 653 million by issuing 335 million new shares.
It raised an additional USD 300 million by selling 158 million shares in its property mana...

sources

HKEX: (1) Placing Of Existing Shares And Subscription Of New Shares; And (2) Placing Of Existing Sunac Services Shares

Bloomberg: China Developer Sunac Explores Sale of Tourism Assets

November 15, 2021

CBIRC reflects on Xi’s speech

On Friday, the Party committee of the China Banking and Insurance Regulatory Commission (CBIRC) got together to discuss the implications of Xi Jinping’s speech to the sixth Plenum. The meeting’s readout is a shopping list of CBIRC priorities. Some context: The central bank routinely publishes lists …

On Friday, the Party committee of the China Banking and Insurance Regulatory Commission (CBIRC) got together to discuss the implications of Xi Jinping’s speech to the sixth Plenum.
The meeting’s readout is a shopping list of CBIRC priorities.
Some context: The central bank routinely publishes lists ...

sources

CBIRC: 银保监会召开党委（扩大）会议传达学习贯彻党的十九届六中全会精神

November 12, 2021

Top official calls out American democracy

The 6th Plenum communique was pretty boring. Thankfully, the Propaganda Department’s Friday press conference to discuss the plenum was much more interesting. Central Policy Research Office Director Jiang Jinquan explained why China will not be moving towards Western-style, capitalist democracy any t…

The 6th Plenum communique was pretty boring.
Thankfully, the Propaganda Department’s Friday press conference to discuss the plenum was much more interesting.
Central Policy Research Office Director Jiang Jinquan explained why China will not be moving towards Western-style, capitalist democracy any t...

sources

Xinhua: 中共中央就党的十九届六中全会精神举行新闻发布会

November 12, 2021

6th Plenum endorses Xi’s leadership

The Central Committee’s 6th Plenum concluded on Thursday. No surprise here: The Central Committee adopted a “Resolution on the Major Achievements and Historical Experience of the Party over its Century of Struggle.” Bummer town: The full text of the resolution has yet to be released. Instead, all we…

The Central Committee’s 6th Plenum concluded on Thursday.
No surprise here: The Central Committee adopted a “Resolution on the Major Achievements and Historical Experience of the Party over its Century of Struggle.”
Bummer town: The full text of the resolution has yet to be released.
Instead, all we...

sources

Xinhua: 中国共产党第十九届中央委员会第六次全体会议公报

Xinhua: Full Text: Communique of 6th plenary session of 19th CPC Central Committee

November 12, 2021

MOHRSS’ code for a better workforce

The Ministry of Human Resources and Social Security (MOHRSS) sent an S.O.S. to state media this week. . . . _ _ _ . . . : Need. More. Skilled. Workers. The “14th Five-Year Plan for Technical Education,” released Wednesday, calls for better education for China’s technical workers. ICYDK: Technical …

The Ministry of Human Resources and Social Security (MOHRSS) sent an S.O.S. to state media this week.
. . . _ _ _ . . . : Need. More. Skilled. Workers.
The "14th Five-Year Plan for Technical Education," released Wednesday, calls for better education for China's technical workers.
ICYDK: Technical ...

sources

People.cn: 人社部印发技工教育“十四五”规划八个方面推动技工教育高质量发展

Gov.cn: 人力资源社会保障部关于印发技工教育“十四五”规划的通知

November 12, 2021

Making it grain

As you sow, so shall you reap. State media announced on Thursday that China’s autumn harvest is nearing completion, and winter planting is 90% complete. The good news (CCTV): “Planting progress is better than expected.” The better news: “Most regions have increased production this year.” The bes…

As you sow, so shall you reap.
State media announced on Thursday that China's autumn harvest is nearing completion, and winter planting is 90% complete.
The good news (CCTV):

“Planting progress is better than expected.”

The better news:

“Most regions have increased production this year.”

The bes...

sources

CCTV: 全国冬小麦播种过九成面积有望保持稳定

November 12, 2021

Deep dive | China’s power woes: Between a rock and the coalface

The story of China’s ongoing power crunch – now two months in – feels like it starts in the third chapter: “And then the factories closed.” Indeed, in mid-September, unanticipated electricity shortages hit key Chinese industrial hubs seemingly out of nowhere. Power providers often informed faciliti…

The story of China’s ongoing power crunch – now two months in – feels like it starts in the third chapter: “And then the factories closed.”
Indeed, in mid-September, unanticipated electricity shortages hit key Chinese industrial hubs seemingly out of nowhere.

Power providers often informed faciliti...

November 12, 2021

Back in the game

Yesterday, Reuters reported that Didi will relaunch its ride-hailing and other apps by year-end. The reason: It expects the current cybersecurity investigation into the company to wrap up before then. Refresher: On June 30, Didi had its US IPO, apparently against the wishes of Chinese regulato…

Yesterday, Reuters reported that Didi will relaunch its ride-hailing and other apps by year-end.
The reason: It expects the current cybersecurity investigation into the company to wrap up before then.
Refresher: On June 30, Didi had its US IPO, apparently against the wishes of Chinese regulato...

sources

Reuters: EXCLUSIVE Didi prepares to relaunch apps in China, anticipates data probe will end soon -sources

November 12, 2021

(Lifting coal) higher and higher

On Thursday, the National Development and Reform Commission (NDRC) told Xinhua that thermal coal restocking efforts are in good shape ahead of peak winter power demand. Catch up quick: Power rationing has decreased significantly, with State Grid stating that supply and demand are more or less balanc…

On Thursday, the National Development and Reform Commission (NDRC) told Xinhua that thermal coal restocking efforts are in good shape ahead of peak winter power demand.
Catch up quick: Power rationing has decreased significantly, with State Grid stating that supply and demand are more or less balanc...

sources

Xinhua: 全国煤炭日产量1205万吨创历史新高

November 12, 2021

Speed of growth is out, quality of growth is in

Alibaba recorded an all-time high RMB 540.3 billion in sales during the 11/11 Singles Day shopping festival – the world’s largest shopping event. But the company isn’t exactly shouting it from the rooftops. which is so not like them: During past Singles Days, domestic media was flooded with frequen…

Alibaba recorded an all-time high RMB 540.3 billion in sales during the 11/11 Singles Day shopping festival – the world’s largest shopping event.
But the company isn’t exactly shouting it from the rooftops. which is so not like them:

During past Singles Days, domestic media was flooded with frequen...

sources

SCMP: Alibaba’s Singles’ Day sales growth percentage drops to its lowest in history amid China’s crackdown on Big Tech companies

Sina: 喜报式实时成交额不见了！今年双11电商巨头战报变冷静

November 12, 2021

Liquidity stability

On Thursday, the People’s Bank of China (PBoC) injected a net RMB 50 billion into the banking system. RMB 50 billion in reverse repos expired, while the PBoC injected a new RMB 100 billion in seven-day reverse repos. The central bank has carried out RMB 100 billion in reverse repos each day this w…

On Thursday, the People’s Bank of China (PBoC) injected a net RMB 50 billion into the banking system.

RMB 50 billion in reverse repos expired, while the PBoC injected a new RMB 100 billion in seven-day reverse repos.

The central bank has carried out RMB 100 billion in reverse repos each day this w...

sources

Shanghai Securities News: 央行开展1000亿元7天期逆回购实现净投放500亿元

Sina: 11月10日，央行继续开展1000亿元逆回购—— 市场利率走势整体平稳

November 12, 2021

MOF tweaks SPB rules

On Thursday, the Ministry of Finance (MOF) issued guidelines clarifying when local governments can apply to use funds raised from special-purpose bonds (SPBs) in ways different from what was originally intended. Some context: Sometimes funds raised from SPBs sit idle for long periods in government a…

On Thursday, the Ministry of Finance (MOF) issued guidelines clarifying when local governments can apply to use funds raised from special-purpose bonds (SPBs) in ways different from what was originally intended.
Some context: Sometimes funds raised from SPBs sit idle for long periods in government a...

sources

Caixin: 财政部公开专项债用途调整指引仍以不调整为常态

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