string(13) "markets-macro"

Macro

September 22, 2021

Fujian COVID count rises as China reaches herd immunity

The COVID-19 outbreak that was spreading in Fujian province spread further last week. Between last Monday and this Tuesday, China reported (NHC): 380 new domestically transmitted symptomatic infections, up significantly from 43 in the previous 9-day period Nine new domestically transmitted asymptom… Username Password Remember Me Forgot Password

The COVID-19 outbreak that was spreading in Fujian province spread further last week.
Between last Monday and this Tuesday, China reported (NHC):

380 new domestically transmitted symptomatic infections, up significantly from 43 in the previous 9-day period
Nine new domestically transmitted asymptom...

sources

NHC: 截至9月21日24时新型冠状病毒肺炎疫情最新情况

CCTV: 我国新冠疫苗接种人数达11亿超10亿人完成全程接种

September 22, 2021

Pick up where we left off

Just before the Mid Autumn holidays, Premier Li Keqiang paid a visit to Guangxi, in China’s southwest, for an action-packed three day tour. Li focused the trip on some of his favorite subjects: Employment and the business environment. He repeatedly highlighted the critical role of small businesses o…

Just before the Mid Autumn holidays, Premier Li Keqiang paid a visit to Guangxi, in China's southwest, for an action-packed three day tour.
Li focused the trip on some of his favorite subjects: Employment and the business environment.
He repeatedly highlighted the critical role of small businesses o...

sources

Gov.cn: 李克强在广西考察时强调：解放思想推进改革开放培育壮大市场主体扎实改善民生

September 22, 2021

Did someone say contagion?

Over the long weekend, we followed closely as a number of large developers came under increasing pressure. Guangzhou R&F Properties – one of China’s biggest property developers – managed to raise HKD 18 billion of cash. The deets: R&F said two of its biggest shareholders have agreed to pro…

Over the long weekend, we followed closely as a number of large developers came under increasing pressure.
Guangzhou R&F Properties – one of China’s biggest property developers – managed to raise HKD 18 billion of cash.
The deets:

R&F said two of its biggest shareholders have agreed to pro...

sources

HKEX: Voluntary Announcement

HKEX: Discloseable Transaction Acquisition Of Entire Equity Interest In Wealth Best Global

The Paper: 新力控股股价跌87%：总部全员降薪，副总裁级降70%

September 22, 2021

UNGA UNGA Party

It’s the most UNderful time of the year! On Tuesday, Xi Jinping addressed the United Nations General Assembly (UNGA) via pre-recorded video message. The big guy kicked things off by reiterating China’s commitment to fighting COVID-19, including: Providing a total of two billion vaccine doses global…

It’s the most UNderful time of the year!
On Tuesday, Xi Jinping addressed the United Nations General Assembly (UNGA) via pre-recorded video message.
The big guy kicked things off by reiterating China’s commitment to fighting COVID-19, including:

Providing a total of two billion vaccine doses global...

sources

Nikkei: Xi Jinping's full speech at the U.N.'s 76th General Assembly

September 22, 2021

Restocking red chips

On Friday, the China Securities Regulatory Commission (CSRC) announced its intention to lure more red chip companies to re-list on the mainland. A quick definition: Red chip companies have extensive operations in and investment from China, but are incorporated and listed outside the mainland. Effor…

On Friday, the China Securities Regulatory Commission (CSRC) announced its intention to lure more red chip companies to re-list on the mainland.
A quick definition: Red chip companies have extensive operations in and investment from China, but are incorporated and listed outside the mainland.
Effor...

sources

CSRC: 【第20号公告】《关于扩大红筹企业在境内上市试点范围的公告》

Caixin: China Moves to Lure More Red-Chip Stocks to Mainland Markets

September 22, 2021

Hand me my pitchfork

On Tuesday, the Financial Times reported that six executives at China Evergrande Group managed to redeem their investments in the developer’s wealth management products (WMPs), even as the company told tens of thousands of retail investors that it couldn’t pay them on time. In a statement over the w…

sources

FT: Evergrande bosses face ‘severe punishment’ after securing early redemptions

Reuters: Evergrande chairman confident company will 'walk out of its darkest moment'

September 22, 2021

The other (steel-toed) shoe drops

Remember when iron ore tracked like a meme stock? Those days are over. Over the Mid-Autumn Festival holiday, international iron ore prices began a meteoric fall. Some high – er – lowlights: Singapore Exchange iron ore swaps hit a 15-month low of USD 90/ton, down 56% from its peak in May. UBS revi…

Remember when iron ore tracked like a meme stock? Those days are over.
Over the Mid-Autumn Festival holiday, international iron ore prices began a meteoric fall.
Some high – er – lowlights:

Singapore Exchange iron ore swaps hit a 15-month low of USD 90/ton, down 56% from its peak in May.
UBS revi...

sources

Yicai: 铁矿石不再“抢手”，期价年内重挫36%成国内最“惨”商品

Bloomberg: Iron Ore’s Rout Keeps Rolling as China Imposes More Steel Curbs

September 22, 2021

Whitepaper on domestic computing power

On Friday, CAICT dropped a white paper on domestic computing power. The key quote: “[In 2020], China’s [total] computing power reached 135EFlops, an increase of 48EFlops year-on-year. The growth rate reached 55%, about 16% higher than the growth rate globally.” Why it matters: China’s next-g…

On Friday, CAICT dropped a white paper on domestic computing power. The key quote:

"[In 2020], China’s [total] computing power reached 135EFlops, an increase of 48EFlops year-on-year. The growth rate reached 55%, about 16% higher than the growth rate globally.”

Why it matters: China’s next-g...

sources

CAICT: 中国算力发展指数白皮书

September 22, 2021

Doubling down on a new satelite system

China is doubling down on transport applications for its shiny new satellite system. On Friday, MIIT vice-minister Wang Zhiqing said that China will formulate medium- and long-term plans for the application of the Beidou system in transportation. Where they’re at now: “At present, the transportatio…

"At present, the transportatio...

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People.cn: 交通运输部：制定北斗系统应用中长期发展规划推进国际化应用

September 22, 2021

Take me (close to) home

The data on the Mid-Autumn Festival travel period is in – and it’s mostly good news for China’s struggling tourism industry. ICYMI: In the run-up to the holiday, many local governments urged residents to keep travel plans close to home, in hopes of limiting COVID-19 risk. And stay close to home they…

The data on the Mid-Autumn Festival travel period is in – and it’s mostly good news for China’s struggling tourism industry.
ICYMI: In the run-up to the holiday, many local governments urged residents to keep travel plans close to home, in hopes of limiting COVID-19 risk.
And stay close to home they...

sources

Yicai: 旅游市场复苏，超50%游客中秋选择周边游

Reuters: Universal Studios Beijing draws eager throngs amid uneasy U.S.-China ties

September 22, 2021

Yi Gang talks fintech

On Saturday, Yi Gang – head of the central bank (PBoC) – spoke via videolink at the Conference on Fintech and the Global Payments Landscape. Some context: The virtual conference, co-hosted by PBoC and the Deutsche Bundesbank (Germany’s central bank), was attended by representatives from over 50 Chin…

On Saturday, Yi Gang – head of the central bank (PBoC) – spoke via videolink at the Conference on Fintech and the Global Payments Landscape.
Some context: The virtual conference, co-hosted by PBoC and the Deutsche Bundesbank (Germany’s central bank), was attended by representatives from over 50 Chin...

sources

Gov.cn: 中国人民银行行长易纲在中德“金融科技与全球支付领域全景—探索新疆域”视频会议的开幕致辞

Caixin: No Financial Activity Should Be Free of Financial Regulators’ Scrutiny, PBOC Chief Says

September 17, 2021

Network cards for smart cars

Yesterday, MIIT announced that by September 2022, all smart cars will have to include network cards registered to the real name of the owner. The deets: The stipulation is included in a new Internet of Vehicles network card security policy, the full text of which isn’t yet available (although a dra…

Yesterday, MIIT announced that by September 2022, all smart cars will have to include network cards registered to the real name of the owner.
The deets: The stipulation is included in a new Internet of Vehicles network card security policy, the full text of which isn’t yet available (although a dra...

sources

MIIT: 工业和信息化部扎实推进车联网卡实名登记管理工作

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