string(13) "markets-macro"

Macro

October 25, 2021

Cutting it close

Wow, that was close. On Friday, China Evergrande Group avoided defaulting on its offshore bonds by paying a USD 83.5 million coupon that was originally due September 23 (Bloomberg). Evergrande reportedly wired the money Thursday, meaning bondholders received what they were owed before the 30-day g… Username Password Remember Me Forgot Password

Wow, that was close.
On Friday, China Evergrande Group avoided defaulting on its offshore bonds by paying a USD 83.5 million coupon that was originally due September 23 (Bloomberg).

Evergrande reportedly wired the money Thursday, meaning bondholders received what they were owed before the 30-day g...

sources

Bloomberg: Evergrande Staves Off Default With Last-Minute Bond Payment

Reuters: China's debt-ridden Evergrande resumes work on more than 10 property projects

October 25, 2021

Big techs pledge to protect personal info on their apps

Last Friday, more than 20 large Shenzhen-based tech companies — including Tencent and Huawei — signed the “Shenzhen APP Personal Information Protection Self-discipline Pledge.” Where: At a conference on app personal information protection hosted by the local branches of SAMR and CAC. What big tech…

Last Friday, more than 20 large Shenzhen-based tech companies — including Tencent and Huawei — signed the “Shenzhen APP Personal Information Protection Self-discipline Pledge.”
Where: At a conference on app personal information protection hosted by the local branches of SAMR and CAC.
What big tech...

sources

Sina: 腾讯、华为等20多家企业承诺“不监听个人隐私”！

Shenzhen Business News: 保护个人信息安全 20余家重点APP运营企业签署了这份承诺书！

October 25, 2021

Anti-telecom Network Fraud Law draft out

On Oct 18, we told you that the new Anti-telecom Network Fraud Law had been submitted to the National People’s Congress. On Saturday, the draft text was released. So what’s in it? The law is much more focused on increasing compliance burdens for companies that provide services used to commit fraud…

On Oct 18, we told you that the new Anti-telecom Network Fraud Law had been submitted to the National People’s Congress.
On Saturday, the draft text was released.
So what’s in it? The law is much more focused on increasing compliance burdens for companies that provide services used to commit fraud...

sources

People.cn: 人大常委会第三十一次会议审议多部法律草案

NPC: http://www.npc.gov.cn/flcaw/userIndex.html?lid=ff8081817ca2554e017ca63b3a2f0a05

October 25, 2021

Time’s up for NFTs in China

We’re calling it: NFTs have begun their fight for regulatory survival. Over the weekend, Chinese media reported that Ant Group and Tencent changed references to NFTs to “digital collectibles” on their interfaces and websites. Regulators reportedly also called the big tech firms in for a talking-t…

We’re calling it: NFTs have begun their fight for regulatory survival.
Over the weekend, Chinese media reported that Ant Group and Tencent changed references to NFTs to “digital collectibles” on their interfaces and websites.

Regulators reportedly also called the big tech firms in for a talking-t...

sources

Coindesk: Ant Group, Tencent Change NFT References to ‘Digital Collectibles’: Report

Cailianshe: 因NFT被监管约谈？腾讯、阿里这样回应

October 25, 2021

Please take my cash

Last Friday, the PBoC fined 13 companies for refusing to accept cash payments. What’s going on: Mobile payments have become so ubiquitous that handling cash is often inconvenient, and some merchants refuse to accept it. Yeah, but: It’s still legal tender, and the central bank worries that cash ref…

Last Friday, the PBoC fined 13 companies for refusing to accept cash payments.
What’s going on: Mobile payments have become so ubiquitous that handling cash is often inconvenient, and some merchants refuse to accept it.
Yeah, but: It’s still legal tender, and the central bank worries that cash ref...

sources

PBoC: 中国人民银行2021年二季度拒收人民币现金处罚信息表

PBoC: 中国人民银行2021年一季度拒收人民币现金处罚信息表

Sina: 拒收人民币现金罚！

Reuters: China says rejecting physical cash is illegal amid e-payments popularity

October 25, 2021

PBoC: Central bank digital currency is safer

On Saturday, former PBoC governor Zhou Xiaochuan sat down for a media interview on the digital yuan (e-CNY). ICYDK: Zhou’s the guy that floated the idea to develop e-CNY back in 2014. What he said: “The market has a view that it’s enough for tech companies and payment companies to issue digital c…

On Saturday, former PBoC governor Zhou Xiaochuan sat down for a media interview on the digital yuan (e-CNY).
ICYDK: Zhou’s the guy that floated the idea to develop e-CNY back in 2014.
What he said:

“The market has a view that it’s enough for tech companies and payment companies to issue digital c...

sources

Cailianshe: 周小川详解数字货币六大问题跨境支付能否绕开汇率问题？

October 25, 2021

Be dependent on us, not them

The Bund Summit kicked off over the weekend, marking one year since Jack Ma took to the summit stage to give his now-infamous speech roasting financial regulators for constraining innovation. The tone of the conversation was uh… different this year. Shang Fulin, who previously chaired several …

The Bund Summit kicked off over the weekend, marking one year since Jack Ma took to the summit stage to give his now-infamous speech roasting financial regulators for constraining innovation.

The tone of the conversation was uh... different this year.

Shang Fulin, who previously chaired several ...

sources

21jingji.com: 尚福林：金融与科技健康融合发展离不开有效监管（附实录）

October 23, 2021

Deep dive | Global Supply Chain Angst: The View from Beijing (part 1)

Between a rock and a hard place (This is part 1 of a two-part series. You can find part 2 here.) Everyone is worried about supply chain stability and security these days, and Beijing is no different. For China, however, the conundrum is twofold: Not only is Beijing concerned about its own impor…

Between a rock and a hard place
(This is part 1 of a two-part series. You can find part 2 here.)
Everyone is worried about supply chain stability and security these days, and Beijing is no different. For China, however, the conundrum is twofold: Not only is Beijing concerned about its own impor...

October 22, 2021

More on ‘data asset certificates’

Ok, now this is becoming a thing: On Wednesday, we told you that Guangzhou had issued China’s first “data asset certificate.” What it is: Certified government data on a person or company that can be presented to a bank as part of the loan application process. The bank takes the certificate into con…

Ok, now this is becoming a thing: On Wednesday, we told you that Guangzhou had issued China’s first “data asset certificate.”
What it is: Certified government data on a person or company that can be presented to a bank as part of the loan application process. The bank takes the certificate into con...

sources

Zhejiang News: 浙报聚焦丨凭个人数据也能贷款温州发放首个“个人数据资产云凭证”

October 22, 2021

One more eCNY giveaway

Shenzhen is launching yet another eCNY lottery to encourage cultural consumption. A total of 25 million red envelopes with up to RMB 520 each will be distributed to lucky citizens. The catch? These red envelopes are actually vouchers that can only be used to buy books, go to movie…

Shenzhen is launching yet another eCNY lottery to encourage cultural consumption.

A total of 25 million red envelopes with up to RMB 520 each will be distributed to lucky citizens.

The catch? These red envelopes are actually vouchers that can only be used to buy books, go to movie...

sources

Sina: 2500万数字人民币文惠券来袭！深圳书城全线低至八折

October 22, 2021

The tech crackdown is not temporary

Today, People’s Daily ran a lengthy interview with SAMR Director Zhang Gong. The topic: Strengthening anti-monopoly efforts and implementing fair competition policy, naturally. What Zhang said: Mostly, that SAMR has been doing a wonderful fabu-tastic job of anti-monopoly regulation! Snore. But he…

Today, People’s Daily ran a lengthy interview with SAMR Director Zhang Gong.
The topic: Strengthening anti-monopoly efforts and implementing fair competition policy, naturally.
What Zhang said: Mostly, that SAMR has been doing a wonderful fabu-tastic job of anti-monopoly regulation! Snore.
But he...

sources

Sina: 人民日报访市监总局局长张工：强化反垄断深入推进公平竞争政策实施

October 22, 2021

SPC: Tech IP in new areas, like data and AI, needs improved

Yesterday, Supreme People’s Court President Zhou Qiang delivered a report to the permanent body of China’s legislature, the NPCSC, on the court’s work on intellectual property since the 18th Party Congress, held way back in 2012. What caught our eye: Zhou highlighted the need to improve IP rights a…

Yesterday, Supreme People’s Court President Zhou Qiang delivered a report to the permanent body of China’s legislature, the NPCSC, on the court’s work on intellectual property since the 18th Party Congress, held way back in 2012.
What caught our eye: Zhou highlighted the need to improve IP rights a...

sources

Xinhua: 最高法：健全大数据、人工智能等新领域知识产权司法保护规则

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