string(13) "markets-macro"

Macro

November 12, 2021

Yango woe

On Thursday, The Paper reported that Chinese developer Yango Group – one of China’s 20 biggest developers – has secured approval from bondholders to alter repayment terms for two domestic bonds. The bonds are due to mature on November 18 and 19, respectively, and have a combined principal of RMB 1…. Username Password Remember Me… Read More »

The bonds are due to mature on November 18 and 19, respectively, and have a combined principal of RMB 1....

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The Paper: 阳光城：为暂缓流动性压力，申请变更两只债券兑付方案

November 12, 2021

The debate on data localization is not over

Interesting op-ed alert. Yesterday, a researcher at CAICT — a think tank housed under MIIT that supports research and rollout of ICT policy — published an opinion piece arguing that the benefits of data localization are far from clear, and there are huge potential costs to implementing the concept p…

Interesting op-ed alert.
Yesterday, a researcher at CAICT — a think tank housed under MIIT that supports research and rollout of ICT policy — published an opinion piece arguing that the benefits of data localization are far from clear, and there are huge potential costs to implementing the concept p...

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Secrss: 重新审视以国家安全为理由要求数据本地化的合理性

CAICT: 数据价值化与数据要素市场发展报告（2021年）

November 12, 2021

No more US equipment licenses for Huawei and friends

Yesterday, President Biden signed the “Secure Equipment Act of 2021” into law, requiring the Federal Communications Commission (FCC) to stop reviewing or approving applications for equipment licenses from China’s Huawei, ZTE, Hikvision, Dahua, and Hytera. The background: In 2018, the US banned fede…

Yesterday, President Biden signed the "Secure Equipment Act of 2021" into law, requiring the Federal Communications Commission (FCC) to stop reviewing or approving applications for equipment licenses from China's Huawei, ZTE, Hikvision, Dahua, and Hytera.
The background: In 2018, the US banned fede...

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US Congress: H.R.3919 - Secure Equipment Act of 2021

November 12, 2021

WeChat quizzed on personal information collection

Over the last several months, Tencent has been making some changes to WeChat to improve compliance with China’s new Personal Information Protection Law. One of the adjustments: It is now much easier to turn off personalized ad recommendations, with the option available in a clearly marked menu, as …

Over the last several months, Tencent has been making some changes to WeChat to improve compliance with China’s new Personal Information Protection Law.
One of the adjustments: It is now much easier to turn off personalized ad recommendations, with the option available in a clearly marked menu, as ...

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Yicai: 上海消保委质疑微信关闭个性化广告后仍收集用户隐私

November 12, 2021

No more advertising private tutoring

Yesterday, SAMR, the CAC, and a bunch of other ministries released a directive tightening control on the online and offline display of advertisements related to the private tutoring industry. Background: In July, the “Double Reduction” policy effectively banned the K-12 private tutoring sector. Bei…

Yesterday, SAMR, the CAC, and a bunch of other ministries released a directive tightening control on the online and offline display of advertisements related to the private tutoring industry.
Background: In July, the “Double Reduction” policy effectively banned the K-12 private tutoring sector. Bei...

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CAC: 八部门关于做好校外培训广告管控的通知

November 12, 2021

Are WeChat group conversations ‘private’?

Today, TC260, our favorite ICT technical standards-making body <3, released draft Guidelines for the Identification of Personal Information on Instant Messaging Service Platforms for public comment. The draft standards were super short — just one page — but they could be highly consequential in …

Today, TC260, our favorite ICT technical standards-making body <3, released draft Guidelines for the Identification of Personal Information on Instant Messaging Service Platforms for public comment.
The draft standards were super short — just one page — but they could be highly consequential in ...

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TC260: 关于信安标委技术文件《即时通信服务平台个人通信信息认定指南》（征求意见稿）征求意见的通知

November 12, 2021

CMCA establishes Metaverse Industry Committee

Today, the China Mobile Communications Association (CMCA), China’s only telecommunications industry association, established a “Metaverse Industry Committee”— China’s first industry body dedicated to metaverse issues. What are they going to do? Ni Jianzhong, the executive chairman of CMCA, laid out …

Today, the China Mobile Communications Association (CMCA), China's only telecommunications industry association, established a "Metaverse Industry Committee"— China’s first industry body dedicated to metaverse issues.
What are they going to do? Ni Jianzhong, the executive chairman of CMCA, laid out ...

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CNstock: 国内首家获批元宇宙行业协会揭牌

November 12, 2021

eCNY digital wallet registrations up on Singles Day

Yesterday, JD announced that nearly 380,000 new users activated digital yuan (e-CNY) payment on JD.com over the two-week Singles Day sales period. Hot diggety! That’s not bad. Why the boom in eCNY use? JD was incentivizing new activations by giving away free money — up to eCNY 118. But: We’ve nev…

Yesterday, JD announced that nearly 380,000 new users activated digital yuan (e-CNY) payment on JD.com over the two-week Singles Day sales period.
Hot diggety! That's not bad.
Why the boom in eCNY use? JD was incentivizing new activations by giving away free money — up to eCNY 118.
But: We’ve nev...

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Sina: 最高可得118元数字人民币碰撞“双11”是什么新体验？

November 11, 2021

Quick take | The 6th Plenum

It’s official: The 6th Plenum is over and the communique is out. And… it’s not that exciting. Broadly speaking, the communique just says: “The Party is great – especially Xi Jinping.” Except, instead of saying that in seven words, it uses seven thousand. But there’s obviously more to it than tha…

It’s official: The 6th Plenum is over and the communique is out.

And… it’s not that exciting.

Broadly speaking, the communique just says: “The Party is great – especially Xi Jinping.”

Except, instead of saying that in seven words, it uses seven thousand.

But there’s obviously more to it than tha...

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Gov.cn: 中国共产党第十九届中央委员会第六次全体会议公报

November 11, 2021

A bushel and APEC

And a hug around the neck. Early Thursday, Xi Jinping shared a video keynote at the Asia-Pacific Economic Cooperation (APEC) CEO Summit. Xi emphasized that China is open for business, and promised to (Global Times): “Continue to shorten the negative list on foreign investment.” “Promote a…

And a hug around the neck.
Early Thursday, Xi Jinping shared a video keynote at the Asia-Pacific Economic Cooperation (APEC) CEO Summit.
Xi emphasized that China is open for business, and promised to (Global Times):

"Continue to shorten the negative list on foreign investment."
"Promote a...

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Global Times: Full Text: Keynote speech by Chinese President Xi Jinping at APEC CEO Summit

The Paper: 习近平在亚太经合组织工商领导人峰会上的主旨演讲（全文）

November 11, 2021

More green for greening

It’s a dirty job, but somebody’s gotta do it. On Wednesday, the State Council called for more companies, investors, and charities to get involved in cleaning up and protecting the environment. Some context: China’s environmental regulations are pretty strict these days, but decades of unbridled indu…

It's a dirty job, but somebody's gotta do it.
On Wednesday, the State Council called for more companies, investors, and charities to get involved in cleaning up and protecting the environment.
Some context: China's environmental regulations are pretty strict these days, but decades of unbridled indu...

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Gov.cn: 国务院办公厅关于鼓励和支持社会资本参与生态保护修复的意见

November 11, 2021

1.5 degrees of separation

On Wednesday, China and the US surprised the world with a bilateral agreement to cooperate on emission reductions. Speaking at separate press conferences during the COP26 climate talks in Glasgow, climate envoys Xie Zhenhua and John Kerry announced the agreement committing to (MEE/State): Limit ave…

On Wednesday, China and the US surprised the world with a bilateral agreement to cooperate on emission reductions.
Speaking at separate press conferences during the COP26 climate talks in Glasgow, climate envoys Xie Zhenhua and John Kerry announced the agreement committing to (MEE/State):

Limit ave...

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Bloomberg: Surprise U.S.-China Climate Deal Breaks Through Superpower Standoff

MEE: 中美关于在21世纪20年代强化气候行动的格拉斯哥联合宣言

US Department of State: U.S.-China Joint Glasgow Declaration on Enhancing Climate Action in the 2020s

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