string(13) "markets-macro"

Macro

November 8, 2021

Cap it!

On Friday, Bloomberg reported that the banking regulator has told some local banks to cap their issuance of wealth management products (WMPs) at current levels. The banks had ramped up their WMP issuance in anticipation of the year-end deadline for compliance with asset management regulations. Som… Username Password Remember Me Forgot Password

On Friday, Bloomberg reported that the banking regulator has told some local banks to cap their issuance of wealth management products (WMPs) at current levels.

The banks had ramped up their WMP issuance in anticipation of the year-end deadline for compliance with asset management regulations.

Som...

sources

Bloomberg: China Tells Small Banks to Cap Wealth Management Product Sales

November 8, 2021

Everyone wants to enforce PIPL

On Saturday, 21st Century Biz published the results of an investigation evaluating the personal information protection of 20 popular entertainment apps, including Bilibili, Douyin, Youku, and other big names. Who conducted the investigation: A small-time state-backed think tank. Some context: The s…

On Saturday, 21st Century Biz published the results of an investigation evaluating the personal information protection of 20 popular entertainment apps, including Bilibili, Douyin, Youku, and other big names.
Who conducted the investigation: A small-time state-backed think tank.
Some context: The s...

sources

21st Century Biz: 个人信息保护合规测评②丨20款娱乐类APP：数据可携带权大多未落实，优酷等8款未对个人信息副本获取方式做说明

CAC: 关于印发《App违法违规收集使用个人信息行为认定方法》的通知

November 8, 2021

The future way to buy snacks

Over the weekend, Bank of China piloted a currency exchange machine that can convert 17 different currencies into digital RMB. How it works: It uses the real-time exchange rate from Bank of China, and it does not require foreign users to first register for a bank account. Only a passport is neces…

Over the weekend, Bank of China piloted a currency exchange machine that can convert 17 different currencies into digital RMB.
How it works: It uses the real-time exchange rate from Bank of China, and it does not require foreign users to first register for a bank account.

Only a passport is neces...

sources

Sohu: 亮点抢先看，中行助力进博会数字人民币场景搭建

MofCom: 第四届进博会实现展会场景下数字人民币支付全覆盖

November 8, 2021

Commercialized robotaxis are on the way

On Sunday, at the China International Import Expo (CIIE), officials hinted that Shanghai is considering introducing new rules that will expand autonomous taxi pilot testing. The biggest adjustment being considered: Allowing companies to charge fares for robo-rides. Some context: Novelty rides in d…

On Sunday, at the China International Import Expo (CIIE), officials hinted that Shanghai is considering introducing new rules that will expand autonomous taxi pilot testing.
The biggest adjustment being considered: Allowing companies to charge fares for robo-rides.
Some context: Novelty rides in d...

sources

The Paper: 上海将试点自动驾驶出租车

November 8, 2021

Binge-buying does not a sustainable economy make

Today, SAMR asked internet companies to tighten supervision of sellers on their respective platforms during the “Single’s Day” sales festival. SAMR wants internet companies to stop vendors from: Increasing product prices before offering discounts Advertising fake pre-sale prices Using fake product…

Today, SAMR asked internet companies to tighten supervision of sellers on their respective platforms during the "Single's Day" sales festival.
SAMR wants internet companies to stop vendors from:

Increasing product prices before offering discounts
Advertising fake pre-sale prices
Using fake product...

sources

Gov.cn: 市场监管总局部署规范“双十一”促销经营活动

November 8, 2021

Digital overtime protest gets shut down

Remember the viral #WorkersLivesMatter campaign that documented detailed work schedules of thousands of big tech employees? Well, according to an SCMP report published Saturday, it’s now gone from everywhere on the Internet, including Github. The creator of the movement told the paper tha…

Remember the viral #WorkersLivesMatter campaign that documented detailed work schedules of thousands of big tech employees?
Well, according to an SCMP report published Saturday, it’s now gone from everywhere on the Internet, including Github. The creator of the movement told the paper tha...

sources

SCMP: Team behind censored spreadsheet exposing brutal 996 Big Tech work hours deletes project after widespread crackdown

November 8, 2021

Jiebei gets a facelift

Today, in response to regulatory requirements, Ant Group began adjusting the appearance of its consumer loan service Jiebei to provide more transparency for consumers. What did they change? Partner banks that provide funds to borrowers via Jiebei are now clearly disclosed. Previously, only Jiebei…

Today, in response to regulatory requirements, Ant Group began adjusting the appearance of its consumer loan service Jiebei to provide more transparency for consumers.
What did they change? Partner banks that provide funds to borrowers via Jiebei are now clearly disclosed.

Previously, only Jiebei...

sources

Reuters: 蚂蚁消金将承接花呗借呗业务监管要求两家小贷公司一年内退出

Reuters: Ant Group starts to differentiate consumer loan business Jiebei from bank loans

November 8, 2021

Preventing big tech from becoming too big to fail

On Friday, Shenzhen local financial authorities proposed new restrictions on investment in the financial sector by internet companies. Some context: Limits on private capital in the financial sector have been in place for years, but the existing rules only cap the number of financial institutions t…

On Friday, Shenzhen local financial authorities proposed new restrictions on investment in the financial sector by internet companies.
Some context: Limits on private capital in the financial sector have been in place for years, but the existing rules only cap the number of financial institutions t...

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Caixin: 深圳三部门：对互联网平台入股金融机构实行总量控制

November 8, 2021

CAC wants to teach you the internet

On Friday, the CAC released the “Action Plan for Enhancing the Digital Literacy and Skills of the People.” Some context: China is pushing hard on digitizing all aspects of the state, economy, and society — but you can’t have a digitized state without a tech-savvy populace. This is the policy that …

On Friday, the CAC released the "Action Plan for Enhancing the Digital Literacy and Skills of the People.”
Some context: China is pushing hard on digitizing all aspects of the state, economy, and society — but you can't have a digitized state without a tech-savvy populace.
This is the policy that ...

sources

CAC: 提升全民数字素养与技能行动纲要

CAC: 中央网信办负责同志就《提升全民数字素养与技能行动纲要》答记者问

November 5, 2021

State media criticizes crypto marketing

Today, state mouthpiece Xinhua published an exposé on rampant crypto marketing on the Chinese Internet. Some context: The recent crackdown on crypto has resulted in censored crypto influencers on Weibo and censored crypto keyword searches on Baidu. The problem: Plenty of websites and independent m…

Today, state mouthpiece Xinhua published an exposé on rampant crypto marketing on the Chinese Internet.
Some context: The recent crackdown on crypto has resulted in censored crypto influencers on Weibo and censored crypto keyword searches on Baidu.
The problem: Plenty of websites and independent m...

sources

Sina: 严打之下，还有网站为虚拟货币营销鼓与吹

November 5, 2021

CBDC international collab

Yesterday, a panel at Hong Kong Fintech Week confirmed that in 2022, mBridge will focus on testing applications in trade finance, e-commerce, and supply chain finance. Recap: mBridge is a pioneering project to build connective infrastructure for central bank digital currencies (CBDC). It’s the on…

Yesterday, a panel at Hong Kong Fintech Week confirmed that in 2022, mBridge will focus on testing applications in trade finance, e-commerce, and supply chain finance.
Recap: mBridge is a pioneering project to build connective infrastructure for central bank digital currencies (CBDC).

It’s the on...

sources

Youtube: Hong Kong FinTech Week 2021 - mBridge: Building a Multi CBDC Platform for international Payments

November 5, 2021

Curb your consumption

Yesterday, the China Consumers Association told consumers to be careful when consuming during China’s biggest consumption festival. Their message: Many Single’s Day discounts that look like a great deal aren’t — don’t overspend, do your due diligence, and think before you pay. Our take: Increasing…

Yesterday, the China Consumers Association told consumers to be careful when consuming during China’s biggest consumption festival.
Their message: Many Single’s Day discounts that look like a great deal aren’t — don’t overspend, do your due diligence, and think before you pay.
Our take: Increasing...

sources

CCA: 中消协消费提示:“双十一”购物这六点注意事项请收好

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