string(13) "markets-macro"

Macro

October 28, 2021

Semiconductor Cross-border Industry Working Committee

On Tuesday, MofCom’s Investment Promotion Agency said it will set up a working group called the “Semiconductor Cross-border Industry Working Committee.” On the guest list: Intel, Infineon and several other foreign chip companies. Why? The agency wants to use the committee as a channel to facilitat… Username Password Remember Me Forgot Password

On Tuesday, MofCom’s Investment Promotion Agency said it will set up a working group called the “Semiconductor Cross-border Industry Working Committee.”
On the guest list: Intel, Infineon and several other foreign chip companies.
Why? The agency wants to use the committee as a channel to facilitat...

sources

SCMP: China woos Intel, Infineon and others in chip investment push to boost supply chain security

October 28, 2021

Keeping the door open

On Wednesday, Premier Li Keqiang chaired the weekly State Council executive meeting. The headline: Tax incentives for foreign bond investors are here to stay. Some context: In November 2018, policymakers exempted foreign bond investors from paying corporate income tax and value-added tax on in…

On Wednesday, Premier Li Keqiang chaired the weekly State Council executive meeting.
The headline: Tax incentives for foreign bond investors are here to stay.
Some context: In November 2018, policymakers exempted foreign bond investors from paying corporate income tax and value-added tax on in...

sources

Gov.cn: 关于境外机构投资境内债券市场企业所得税增值税政策的通知

Gov.cn: China to extend tax incentives for overseas investors to attract more foreign investment

October 28, 2021

Build banks bigger

On Wednesday, the Henan-based Zhongyuan Bank said that it plans absorb three other Henan-based city commercial banks. In a statement to the Hong Kong stock exchange, Zhongyuan Bank said it would merge with: Bank of Jiaozuo China Travel Services Luoyang Bank Pingdingshan Bank Fun fact: Zhongyuan is…

Bank of Jiaozuo China Travel Services
Luoyang Bank
Pingdingshan Bank

Fun fact: Zhongyuan is...

sources

HKEX: Inside Information

October 28, 2021

Developers ask for wiggle room

On Wednesday, Reuters reported that some developers have proposed to regulators that they extend the maturities on their offshore bonds or undertake debt restructuring. Citing unnamed sources, Reuters reported that the developers made the suggestion at a meeting hosted by the National Development an…

On Wednesday, Reuters reported that some developers have proposed to regulators that they extend the maturities on their offshore bonds or undertake debt restructuring.
Citing unnamed sources, Reuters reported that the developers made the suggestion at a meeting hosted by the National Development an...

sources

Reuters: China developers proposed debt restructuring, maturity extension to regulators – sources

Caixin: China’s Property Developers Told to Pay Their International Debts On Time

October 28, 2021

Coal price intervention heats up

On Wednesday, the National Development and Reform Commission (NDRC) met with the China Coal Industry Association and key coal companies to discuss specific coal price interventions. ICYMI: The talks follow the NDRC’s initial indication on Tuesday that it was exploring the potential for a coal price …

On Wednesday, the National Development and Reform Commission (NDRC) met with the China Coal Industry Association and key coal companies to discuss specific coal price interventions.
ICYMI: The talks follow the NDRC's initial indication on Tuesday that it was exploring the potential for a coal price ...

sources

21st Century Biz: 国家发展改革委召开专题会议研究煤炭价格干预的具体措施

Caixin: 动力煤期货跌停发改委开会讨论煤炭限价细则

Reuters: China planner meets coal producers to discuss price intervention

October 28, 2021

Show us the money

On Monday, at its executive meeting, the Shanghai local government launched a pilot program aimed at achieving “zero hidden debt.” Guangdong – China’s most populous and richest province – announced a similar program earlier this month. Some context: Hidden local government debt – often held by sta…

On Monday, at its executive meeting, the Shanghai local government launched a pilot program aimed at achieving “zero hidden debt.”

Guangdong – China’s most populous and richest province – announced a similar program earlier this month.

Some context: Hidden local government debt – often held by sta...

sources

Caixin: 广东上海启动全域无隐性债务试点化债任务或率先完成

Shanghai.gov: 让企业获得感“看得到讲得清” 龚正主持市政府常务会议

Caixin: Two Wealthy Chinese Regions Vow to Wipe Out Implicit Government Debt

Bloomberg: Shanghai Starts Trial to Clear Hidden Debt as China Cuts Risks

October 28, 2021

Stop the taxes!

On Wednesday, Premier Li Keqiang did what he does, chairing the weekly State Council executive meeting. Li’s big agenda item: Tax deferrals for small businesses. ICYMI: Easing the business environment for small- and medium-sized enterprises (SMEs) is one of Li’s all-time favorite topics. At the meet…

On Wednesday, Premier Li Keqiang did what he does, chairing the weekly State Council executive meeting.
Li’s big agenda item: Tax deferrals for small businesses.
ICYMI: Easing the business environment for small- and medium-sized enterprises (SMEs) is one of Li’s all-time favorite topics.
At the meet...

sources

The Paper: 国常会继续助企纾困！预计为制造业中小微企业缓税2000亿

October 28, 2021

Blockchain standards on the horizon

Yesterday, Li Ming, director of the Blockchain Research Office at the China Electronics Standardization Institute, spoke at the Fifth China Blockchain Development Competition in Chengdu, Sichuan. What Li said: China will release its first national blockchain standard next year. Background: China’s …

Yesterday, Li Ming, director of the Blockchain Research Office at the China Electronics Standardization Institute, spoke at the Fifth China Blockchain Development Competition in Chengdu, Sichuan.
What Li said: China will release its first national blockchain standard next year. Background: China’s ...

sources

CBGC: 中国首个区块链国家标准有望于明年发布目前已进入报批状态

October 28, 2021

NHC drops internet healthcare rules

On Tuesday, the National Health Commission released the draft “Internet Diagnosis and Treatment Supervision Rules” for public comment. What they are: the rules set guidelines for running telemedicine operations. They build on trial internet hospital management regulations issued in 2018.&…

On Tuesday, the National Health Commission released the draft “Internet Diagnosis and Treatment Supervision Rules” for public comment.
What they are: the rules set guidelines for running telemedicine operations. They build on trial internet hospital management regulations issued in 2018.&...

sources

NHC: 关于互联网诊疗监管细则(征求意见稿)公开征求意见的公告

October 27, 2021

Not your average science fair

On Tuesday, Xi and friends visited the 13th Five-Year Plan Science and Technology Innovation Achievement Exhibition. The whole gang went, including the entire Politburo Standing Committee and Vice President Wang Qishan. Why it matters: These guys don’t often get together for an exhibition…

On Tuesday, Xi and friends visited the 13th Five-Year Plan Science and Technology Innovation Achievement Exhibition.
The whole gang went, including the entire Politburo Standing Committee and Vice President Wang Qishan.
Why it matters: These guys don’t often get together for an exhibition...

sources

CCTV: 习近平在参观国家“十三五”科技创新成就展时强调坚定创新自信紧抓创新机遇加快实现高水平科技自立自强

October 27, 2021

Iron men

On Tuesday, Xi Jinping and Pakistani Prime Minister Imran Khan renewed their bromance vows by phone. Xi affirmed their brotherly love (FMPRC): “History has fully proved that China and Pakistan are each other’s most trustworthy iron brothers.” He also vowed to: Support Pakistan in fighting C…

On Tuesday, Xi Jinping and Pakistani Prime Minister Imran Khan renewed their bromance vows by phone.
Xi affirmed their brotherly love (FMPRC):

“History has fully proved that China and Pakistan are each other's most trustworthy iron brothers.”

He also vowed to:

Support Pakistan in fighting C...

sources

FMPRC: 习近平同巴基斯坦总理伊姆兰·汗通电话

October 27, 2021

A tale of two developers

It was a day of mixed fortunes for China’s property developers. On Tuesday, China Evergrande Group posted a statement saying that it has resumed construction on more than 40 projects in the Pearl River Delta region (The Paper). Yay! Meanwhile, Modern Land (China) Co posted a statement to the Hong Ko…

It was a day of mixed fortunes for China’s property developers.
On Tuesday, China Evergrande Group posted a statement saying that it has resumed construction on more than 40 projects in the Pearl River Delta region (The Paper).
Yay!
Meanwhile, Modern Land (China) Co posted a statement to the Hong Ko...

sources

The Paper: 恒大在珠三角地区的40个在建项目已逐步恢复生产

HKEX: Update On 12.85% Senior Notes Due 2021 (Isin: Xs1986632716, Common Code: 198663271) And Continued Halt In Trading

Bloomberg: China Urges Evergrande’s Hui to Pay Debt With His Own Wealth

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