string(13) "markets-macro"

Macro

October 26, 2021

The state of the world

On Monday, Xi Jinping spoke at a meeting to mark the 50th anniversary of the PRC winning admission to the United Nations (UN). Quick throwback: In 1971 Beijing took its UN seat, still warm after the global body voted to kick out the ROC (Taiwan), a founder member since 1945. But Xi’s speech didn’t l…… Read More »

On Monday, Xi Jinping spoke at a meeting to mark the 50th anniversary of the PRC winning admission to the United Nations (UN).
Quick throwback: In 1971 Beijing took its UN seat, still warm after the global body voted to kick out the ROC (Taiwan), a founder member since 1945.
But Xi’s speech didn’t l...

sources

Xinhua: 习近平在中华人民共和国恢复联合国合法席位50周年纪念会议上的讲话（全文）

SCMP: China’s 50 years at UN: Xi Jinping says international rules and order must not be dominated by one power

October 26, 2021

MoT gives thumbs up on smart logistics

Today, the Ministry of Transport (MoT) approved JD’s proposal for a series of smart logistics trials. Background: Since 2019, MoT has approved over 60 trial proposals for transport-related projects submitted by local governments, SOEs, and higher education institutions. Why this one is significant…

Today, the Ministry of Transport (MoT) approved JD’s proposal for a series of smart logistics trials.
Background: Since 2019, MoT has approved over 60 trial proposals for transport-related projects submitted by local governments, SOEs, and higher education institutions.
Why this one is significant...

sources

Gov.cn: 交通运输部关于北京京东世纪贸易有限公司开展全链条泛在先进智能物流体系建设等交通强国建设试点工作的意见

October 26, 2021

NPCSC releases draft antitrust law

On Saturday, China’s top legislative body (NPCSC) dropped the full text of the draft amendment to the Anti-Monopoly Law (AML). Some context: We told you last week that the NPCSC had begun its first review of this draft. The AML will likely go through another two reviews before it’s passed. M&…

On Saturday, China’s top legislative body (NPCSC) dropped the full text of the draft amendment to the Anti-Monopoly Law (AML).
Some context: We told you last week that the NPCSC had begun its first review of this draft.

The AML will likely go through another two reviews before it's passed.

M&...

sources

NPC: 反垄断法（修正草案）征求意见

October 26, 2021

The trans-Pacific cone of silence

On Tuesday, Vice Premier and economic czar Liu He held a video call with US Treasury Secretary Janet Yellen. As is usual for Liu’s calls with his US counterparts, we don’t have much detail. Here’s the US Treasury’s summation: “[T[hey discussed macroeconomic and financial developments in the United …

On Tuesday, Vice Premier and economic czar Liu He held a video call with US Treasury Secretary Janet Yellen.
As is usual for Liu’s calls with his US counterparts, we don’t have much detail.
Here’s the US Treasury’s summation:

“[T[hey discussed macroeconomic and financial developments in the United ...

sources

US Treasury: COVID-19 Relief: The Latest from the Treasury Department

MofCom: 刘鹤与美财政部长耶伦通话

USTR: Remarks As Prepared for Delivery of Ambassador Katherine Tai Outlining the Biden-Harris Administration’s “New Approach to the U.S.-China Trade Relationship”

October 26, 2021

Get ready to binge buy

Yesterday, the Ministry of Commerce + other agencies released the 14th Five-year Plan for the Development of Ecommerce. The big targets by 2025: RMB 46 trillion total transaction volume (from RMB 37.21 trillion in 2020)… RMB 17 trillion in national online retail sales (from RMB 11.8 trillion) RMB…

Yesterday, the Ministry of Commerce + other agencies released the 14th Five-year Plan for the Development of Ecommerce. The big targets by 2025:

RMB 46 trillion total transaction volume (from RMB 37.21 trillion in 2020)...
RMB 17 trillion in national online retail sales (from RMB 11.8 trillion)
RMB...

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MofCom: 商务部中央网信办发展改革委关于印发《“十四五”电子商务发展规划》的通知

October 26, 2021

Pointing meaningfully

Yesterday, Xi and friends visited the 13th Five-Year Plan Science and Technology Innovation Achievement Exhibition. Who was there: The entire Politburo Standing Committee and Vice President Wang Qishan. What they did: If the press pics are any indication, they mainly pointed meaningfully at exhibi…

Yesterday, Xi and friends visited the 13th Five-Year Plan Science and Technology Innovation Achievement Exhibition.
Who was there: The entire Politburo Standing Committee and Vice President Wang Qishan.
What they did: If the press pics are any indication, they mainly pointed meaningfully at exhibi...

sources

MIIT: 习近平参观国家“十三五”科技创新成就展

October 26, 2021

Guangdong does public data

On October 18, Guangdong issued its provincial public data management measures. They will go into effect November 25. What they are: A framework for collecting and managing “public data” — for example, data collected by the electric company, or health authorities — with the goal of making it secure…

On October 18, Guangdong issued its provincial public data management measures. They will go into effect November 25.
What they are: A framework for collecting and managing “public data” — for example, data collected by the electric company, or health authorities — with the goal of making it secure...

sources

Gov.cn: 广东省公共数据管理办法

October 26, 2021

BYD Semiconductor IPO

Today, the HKEX gave the go-ahead for BYD’s chip subsidiary, BYD Semiconductor, to proceed with its IPO on the Shenzhen Stock Exchange. It’s not a done deal quite yet: Regulators on the Shenzhen side have paused their review process, and haven’t yet given the go-ahead. What BYD Semiconductor does:…

Today, the HKEX gave the go-ahead for BYD's chip subsidiary, BYD Semiconductor, to proceed with its IPO on the Shenzhen Stock Exchange.
It’s not a done deal quite yet: Regulators on the Shenzhen side have paused their review process, and haven’t yet given the go-ahead.
What BYD Semiconductor does:...

sources

Sina: 比亚迪半导体IPO进程再进一步：分拆上市获联交所同意

October 26, 2021

A FYP for ederly smart health care

On Saturday, MIIT and health authorities released a 5-year action plan for the development of smart healthcare for the elderly. The point: Developing the technologies that will help China cope with the aging population crisis. The plan calls for policy support and innovation in: Health and emergenc…

Health and emergenc...

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Gov.cn: 工业和信息化部民政部国家卫生健康委关于印发《智慧健康养老产业发展行动计划（2021-2025年）》的通知

October 26, 2021

Vegetable data dump

On Monday, the Ministry of Agriculture and Rural Affairs (MARA) announced the latest prints of two key agricultural price indexes: The wholesale agricultural products price index 200 The wholesale vegetable basket price index 200 The indexes registered a respective 127.5 and 130.65, up from 113.38…

On Monday, the Ministry of Agriculture and Rural Affairs (MARA) announced the latest prints of two key agricultural price indexes:

The wholesale agricultural products price index 200
The wholesale vegetable basket price index 200

The indexes registered a respective 127.5 and 130.65, up from 113.38...

sources

Caixin: 菜价猛涨肉蛋价格止跌回升食品涨价如何影响CPI

21st Century Biz: 蔬菜涨价！为何反常跳涨?

October 26, 2021

Piling it on

On Monday, the National Development and Reform Commission (NDRC) reported China had successfully increased coal stockpiles for 20 straight days. According to the NDRC website, coal-fired power plants nationwide have seen supply exceed consumption since October 5. The NDRC went on to add that, nation…

On Monday, the National Development and Reform Commission (NDRC) reported China had successfully increased coal stockpiles for 20 straight days.
According to the NDRC website, coal-fired power plants nationwide have seen supply exceed consumption since October 5.
The NDRC went on to add that, nation...

sources

The Paper: 国家发改委：电厂供煤连续20天大于耗煤，存煤水平快速提升

Sina: 国家发改委：中国煤炭日产量创年内新高将引导价格回归

October 26, 2021

Tell it like it is

On Monday, the National Development and Reform Commission (NDRC) announced it is investigating coal and energy price index providers. Important context: The new probe is part of the NDRC’s ongoing effort to crack down on speculation and market manipulation. The agency implemented a narrower crackdo…

On Monday, the National Development and Reform Commission (NDRC) announced it is investigating coal and energy price index providers.
Important context: The new probe is part of the NDRC's ongoing effort to crack down on speculation and market manipulation.

The agency implemented a narrower crackdo...

sources

NDRC: 关于印发《价格指数行为评估和合规性审查操作指南（试行）》的通知

Yicai: 国家发改委依规对煤炭等能源价格指数行为启动评估和合规性审查

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