string(13) "markets-macro"

Macro

September 27, 2021

Festivity fact check

Time to get into the (correct) festive spirit. On Sunday, the Central Propaganda Department (CPD) published a “declaration” outlining China’s successes under the loving hand of the Party. One awesome trifecta: The declaration explains why the Party’s leadership makes sense – in three distinct ways. … Username Password Remember Me Forgot Password

Time to get into the (correct) festive spirit.
On Sunday, the Central Propaganda Department (CPD) published a "declaration" outlining China's successes under the loving hand of the Party.
One awesome trifecta: The declaration explains why the Party’s leadership makes sense – in three distinct ways.
...

sources

Xinhua: 宣言：我们为什么能够成功

September 27, 2021

A force for good

On Sunday, Vice Premier Liu He addressed the 2021 World Internet Conference Wuzhen Summit via videolink. Some context: The old river town Wuzhen hosts this annual gathering to promote China’s approach to internet governance. Liu’s speech had plenty of good words for internet technology (Xinhua): “T…

On Sunday, Vice Premier Liu He addressed the 2021 World Internet Conference Wuzhen Summit via videolink.
Some context: The old river town Wuzhen hosts this annual gathering to promote China’s approach to internet governance.
Liu's speech had plenty of good words for internet technology (Xinhua):

“T...

sources

Xinhua: 刘鹤出席2021年世界互联网大会乌镇峰会

September 27, 2021

Ah shoot, here we go again

On your mark, get set… On Sunday, China’s top anti-graft body, the Central Commission for Discipline Inspection (CCDI), announced its latest round of discipline inspections. Its target: Financial regulators and state-owned financial institutions. Xinhua has the details: “The new round of inspecti…

On your mark, get set...
On Sunday, China's top anti-graft body, the Central Commission for Discipline Inspection (CCDI), announced its latest round of discipline inspections.
Its target: Financial regulators and state-owned financial institutions.
Xinhua has the details:

“The new round of inspecti...

sources

Xinhua: China's anti-graft chief stresses disciplinary inspection of financial institutions

September 27, 2021

Please turn off your appliances when not in use

Power rationing isn’t new in industry, but now it’s expanded to residential power. In recent days, people across northeastern China have been affected by blackouts and power rationing. That’s making life tough for residents: A pregnant woman in Liaoning was forced to climb 24 floors to reach her ho…

Power rationing isn’t new in industry, but now it’s expanded to residential power.
In recent days, people across northeastern China have been affected by blackouts and power rationing.
That's making life tough for residents:

A pregnant woman in Liaoning was forced to climb 24 floors to reach her ho...

sources

Caixin: Power Supply Squeeze Leads Several Chinese Provinces to Impose Restrictions

The Paper: 吉林省：最大可能避免拉闸限电，确需停电限电要提前告知居民

People's Daily: 辽宁电力供应缺口增至严重级别，将尽最大可能避免拉闸限电

Cailianshe: “限电”全面升级！“东北限电”、“广东限用电梯”上热搜原因何在？

Caixin: 电厂缺煤东三省用电高峰拉闸限电

September 27, 2021

Un-walling wallets

On Friday, the central bank’s deputy governor Fan Yifei spoke at the China Payment and Clearing Forum in Beijing. His message: Mobile payment providers should brace themselves for more antitrust regulations. It wasn’t subtle: Fan was pointing the finger at Alibaba’s Alipay and Tencent’s WeChat Pay –…

On Friday, the central bank's deputy governor Fan Yifei spoke at the China Payment and Clearing Forum in Beijing.
His message: Mobile payment providers should brace themselves for more antitrust regulations.
It wasn't subtle: Fan was pointing the finger at Alibaba's Alipay and Tencent's WeChat Pay –...

sources

PBoC: 范一飞副行长出席第十届中国支付清算论坛

mPayPass: 央行副行长范一飞在第十届中国支付清算论坛上的讲话全文

21st Century Biz: 21独家丨支付互联互通再进一步，银联云闪付接入腾讯和微信部分场景

September 27, 2021

Anti-monopoly in mobile payment space

Antitrust regulations will pick up pace in the mobile payments space. That’s the message delivered by PBoC deputy governor Fan Yifei at a forum in Beijing on Friday. ICYDK: Fan was pointing the finger at Alibaba’s Alipay and Tencent’s WeChat Pay, which together control over 90% of China’s mobile pa…

Antitrust regulations will pick up pace in the mobile payments space. That’s the message delivered by PBoC deputy governor Fan Yifei at a forum in Beijing on Friday.
ICYDK: Fan was pointing the finger at Alibaba's Alipay and Tencent's WeChat Pay, which together control over 90% of China's mobile pa...

sources

mPayPass: 央行副行长范一飞在第十届中国支付清算论坛上的讲话全文

September 27, 2021

Walled gardens, again

Over the weekend, Caixin ran an excellent piece on the recent regulatory push to tear down tech “walled gardens” between China’s big internet platforms. It’s worth reading in full. But here’s the quick takeaway: Opening up Chinese tech ecosystems will take longer than people think. The reason? …

Over the weekend, Caixin ran an excellent piece on the recent regulatory push to tear down tech “walled gardens” between China's big internet platforms.

It’s worth reading in full.

But here’s the quick takeaway: Opening up Chinese tech ecosystems will take longer than people think.
The reason? ...

sources

Caixin: 互联网”拆墙“

September 27, 2021

A death blow to crypto trading

China banned crypto trading over the weekend. Wait…what? Again?? What’s happening: On Friday, ten government agencies – including the central bank (PBoC) – released a comprehensive checklist to stamp out crypto trading. How we got here: In 2017, the PBoC kicked all crypto exchanges …

China banned crypto trading over the weekend.

Wait...what? Again??

What’s happening: On Friday, ten government agencies – including the central bank (PBoC) – released a comprehensive checklist to stamp out crypto trading.
How we got here:

In 2017, the PBoC kicked all crypto exchanges ...

sources

PBoC: 关于进一步防范和处置虚拟货币交易炒作风险的通知

The Block: Crypto exchange Huobi to cease all mainland China user accounts

September 27, 2021

Escrow woes for Evergrande

Localities want to ensure that China Evergrande Group spends its limited money completing construction projects rather than repaying creditors. On Sunday, Caixin reported that multiple local governments have set up escrow accounts to hold income from Evergrande’s apartment presales. This allows loc…

Localities want to ensure that China Evergrande Group spends its limited money completing construction projects rather than repaying creditors.
On Sunday, Caixin reported that multiple local governments have set up escrow accounts to hold income from Evergrande’s apartment presales.

This allows loc...

sources

Caixin: 预防资金跨区调用多地政府开设恒大项目托管专户

September 27, 2021

Evergrande misses coupon payment

Well, it’s official. On Friday, China Evergrande Group failed to pay the coupon on an offshore dollar-denominated bond. Evergrande quietly let the deadline pass, leaving investors scratching their heads as to what comes next. Some context: Evergrande was supposed to pay dollar bond holders USD 83….

Well, it’s official.
On Friday, China Evergrande Group failed to pay the coupon on an offshore dollar-denominated bond.

Evergrande quietly let the deadline pass, leaving investors scratching their heads as to what comes next.

Some context: Evergrande was supposed to pay dollar bond holders USD 83....

sources

Reuters: Evergrande misses payment deadline, EV unit warns of cash crunch

HKEX: Updates Since 31 August 2021

HKEX: Termination Of The Proposed Issue Of Rmb Shares Under Specific Mandate

September 27, 2021

WIC No.8

China kicked off its eighth annual World Internet Conference (WIC) on Sunday in the riverside town of Wuzhen. WIC is a big deal domestically: All the government and tech bigwigs typically make an appearance. Case in point: This year, China’s econ czar, Vice Premier Liu He, stepped in to give a vid…

China kicked off its eighth annual World Internet Conference (WIC) on Sunday in the riverside town of Wuzhen.
WIC is a big deal domestically: All the government and tech bigwigs typically make an appearance. Case in point: This year, China’s econ czar, Vice Premier Liu He, stepped in to give a vid...

sources

CAC: 2021年世界互联网大会乌镇峰会在浙江乌镇开幕

September 24, 2021

Power shortages worsen

China’s power supply problems are spreading. In recent days, several local governments have resorted to power rationing to limit and manage electricity demand. They include: Hunan Guangdong Hebei Anhui Shandong Tianjin Liaoning Hardest hit are Hunan, Anhui, and Guangdong (Caixin): If let unaddres…

China's power supply problems are spreading.
In recent days, several local governments have resorted to power rationing to limit and manage electricity demand. They include:

Hunan
Guangdong
Hebei
Anhui
Shandong
Tianjin
Liaoning

Hardest hit are Hunan, Anhui, and Guangdong (Caixin):

If let unaddres...

sources

Caixin: 湖南、广东多地电力缺口明显企业需错峰用电

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