string(13) "markets-macro"

Macro

October 21, 2021

NDRC: Tech sector reform is nothing to worry about

At a presser yesterday, China’s macro planner, the NDRC, delivered an important message: Don’t worry – we still have the private sector’s back. Xu Shanchang, head of NDRC’s Department of Comprehensive System Reform, said: “The [anti-monopoly] measures are targeted at disorderly beha… Username Password Remember Me Forgot Password

At a presser yesterday, China’s macro planner, the NDRC, delivered an important message: Don’t worry – we still have the private sector's back. Xu Shanchang, head of NDRC’s Department of Comprehensive System Reform, said:

“The [anti-monopoly] measures are targeted at disorderly beha...

sources

Caixin: 发改委：监管资本无序扩张、反垄断不针对特定所有制企业

October 21, 2021

Tech work schedules conflict with parenting

Yesterday, the National Development and Reform Commission held a press conference on implementing the three-child policy. The big issue: Making sure that there are enough childcare services to meet the expected growth in demand. What stood out: Plans to guide employers to make at-work daycare serv…

Yesterday, the National Development and Reform Commission held a press conference on implementing the three-child policy.
The big issue: Making sure that there are enough childcare services to meet the expected growth in demand.
What stood out: Plans to guide employers to make at-work daycare serv...

sources

People.cn: 国家发改委：将引导用人单位为职工提供福利性托育服务

October 21, 2021

I’m lovin’ eCNY

Yesterday, the FT reported that the PBoC is pressuring McDonalds to make digital yuan (eCNY) payments available at more restaurants before the Beijing Olympics. Background: McDonalds is already piloting use of the digital yuan in 270 restaurants in Shanghai. Various official sources denied undue pr…

Yesterday, the FT reported that the PBoC is pressuring McDonalds to make digital yuan (eCNY) payments available at more restaurants before the Beijing Olympics.
Background: McDonalds is already piloting use of the digital yuan in 270 restaurants in Shanghai. Various official sources denied undue pr...

sources

FT: China presses McDonald’s to expand e-currency system before Olympics

Sina: 今年本市数字人民币应用场景力争“100万+”

Xinhua: 数字人民币试点场景超一百三十二万个累计交易七千万余笔

October 21, 2021

Another nail in the crypto coffin

Today, the NDRC put out a call for public comments on an update to its official list of “outdated industries.” Guess which industry made the list this time? That’s right, crypto mining. This move was clearly signaled: The NDRC announced plans to do exactly this on Sept 24, just as the PBoC announc…

Today, the NDRC put out a call for public comments on an update to its official list of “outdated industries.”
Guess which industry made the list this time? That’s right, crypto mining.
This move was clearly signaled: The NDRC announced plans to do exactly this on Sept 24, just as the PBoC announc...

sources

NDRC: 国家发展改革委关于修改《产业结构调整指导目录（2019年本）》公开征求意见的通知

October 21, 2021

Anti-monopoly law draft on the table

On Tuesday, the permanent body of China’s legislature, the NPCSC, began the first review of the draft amendment to the Anti-Monopoly Law (AML). ICYDK: The AML is the legal framework underlying all antitrust regulations. Some context: First enacted in 2008, the AML is outdated, particularly as rega…

On Tuesday, the permanent body of China’s legislature, the NPCSC, began the first review of the draft amendment to the Anti-Monopoly Law (AML).
ICYDK: The AML is the legal framework underlying all antitrust regulations.
Some context: First enacted in 2008, the AML is outdated, particularly as rega...

sources

news.cn: 坚持规范与发展并重反垄断法修正草案首次提请全国人大常委会会议审议

October 21, 2021

Chinese banks and open source software

Yesterday, the central bank (PBoC) and a whole host of supporting regulators released opinions on the use of open source in fintech. What they said: Open source fintech software is nice, and we encourage financial institutions to use it, but: You can’t depend on the open source community to shore …

Yesterday, the central bank (PBoC) and a whole host of supporting regulators released opinions on the use of open source in fintech.
What they said: Open source fintech software is nice, and we encourage financial institutions to use it, but:

You can’t depend on the open source community to shore ...

sources

PBoC: http://www.pbc.gov.cn/zhengwugongkai/4081330/4081344/4081395/4081686/4364505/index.html

October 21, 2021

Winter is coming, but so’s the cavalry

On Wednesday, Premier Li told the State Council (SC), and China, to look out for the micro, small and medium guy, and gal. Why? Because times are tough. Micro, small, and medium-sized enterprises (MSMEs) are facing cost pressures due to inflation and high input costs upstream. Li’s worry i…

On Wednesday, Premier Li told the State Council (SC), and China, to look out for the micro, small and medium guy, and gal.
Why? Because times are tough.
Micro, small, and medium-sized enterprises (MSMEs) are facing cost pressures due to inflation and high input costs upstream.
Li’s worry i...

sources

Gov.cn: 李克强主持召开国务院常务会议

Xinhua: China to further intensify relief policy support for smaller businesses

October 21, 2021

The tax man goeth

Xi Jinping is facing pushback on his proposal for a national property tax, the Wall Street Journal reported. Talk about a long-mooted plan. Chinese officials have considered a property tax since 2003. In spring, the ministries of finance, housing and taxation invited feedback on Xi’s proposal to lev…

Xi Jinping is facing pushback on his proposal for a national property tax, the Wall Street Journal reported.
Talk about a long-mooted plan. Chinese officials have considered a property tax since 2003. In spring, the ministries of finance, housing and taxation invited feedback on Xi’s proposal to lev...

sources

WSJ: In Tackling China’s Real-Estate Bubble, Xi Jinping Faces Resistance to Property-Tax Plan

October 21, 2021

Wu Zhenglong hits the big time

Wu who? Wu Zhenglong. Remember my name. The Politburo approved a raft of high-level personnel moves at its monthly meeting on Monday. Seven new provincial Party secretaries have been announced in the past three days. This guy deserves watching: Wu Zhenglong was promoted to become Party secretary o…

Wu who? Wu Zhenglong. Remember my name.
The Politburo approved a raft of high-level personnel moves at its monthly meeting on Monday.

Seven new provincial Party secretaries have been announced in the past three days.

This guy deserves watching: Wu Zhenglong was promoted to become Party secretary o...

sources

Xinhua: 江苏省委主要负责同志职务调整吴政隆任江苏省委书记

October 21, 2021

Guo dreams a dream

On Wednesday, China Banking and Insurance Regulatory Commission Chairman, Guo Shuqing, also stepped up to the mic at Beijing’s annual Financial Street Forum. However, Guo gave a fairly unconventional – some might even say odd – speech. He led with a scintillating anecdote about how difficult it is t…

On Wednesday, China Banking and Insurance Regulatory Commission Chairman, Guo Shuqing, also stepped up to the mic at Beijing's annual Financial Street Forum.
However, Guo gave a fairly unconventional – some might even say odd – speech.
He led with a scintillating anecdote about how difficult it is t...

sources

CBIRC: 坚持人民至上服务高质量发展——在2021年金融街论坛上的主题演讲

October 21, 2021

The other twin cities

Welcome to integration nation. On Wednesday, the Communist Party Central Committee and State Council released a master plan for the development of the Chengdu-Chongqing Economic Circle (CCEC). Some context: The CCEC was officially launched by Xi Jinping in January 2020 with the goal of turning the t…

Welcome to integration nation.
On Wednesday, the Communist Party Central Committee and State Council released a master plan for the development of the Chengdu-Chongqing Economic Circle (CCEC).
Some context: The CCEC was officially launched by Xi Jinping in January 2020 with the goal of turning the t...

sources

Gov.cn: 中共中央国务院印发《成渝地区双城经济圈建设规划纲要》

Xinhua: China issues master plan for Chengdu-Chongqing economic circle

October 21, 2021

Liu He says to chill about property market

On Wednesday, a raft of financial regulators took the podium at the annual Financial Street Forum in Beijing. Leading the roster was Vice Premier Liu He who told everyone to stop worrying about the property sector. “At present, there are individual problems in the real estate market, but the overal…

On Wednesday, a raft of financial regulators took the podium at the annual Financial Street Forum in Beijing.
Leading the roster was Vice Premier Liu He who told everyone to stop worrying about the property sector.

“At present, there are individual problems in the real estate market, but the overal...

sources

PBoC: 刘鹤副总理在2021年金融街论坛年会开幕式上的书面致辞

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