string(13) "markets-macro"

Macro

September 16, 2021

Mo money (and plans), mo innovation

On Wednesday, Fu Xiaofeng, deputy director of the Department of Social Development at the Ministry of Science and Technology (MoST), spoke about the need for technological innovation in reaching net zero. The bad news: Basically, most existing technologies are immature. Fu said this lack of maturit… Username Password Remember Me Forgot Password

On Wednesday, Fu Xiaofeng, deputy director of the Department of Social Development at the Ministry of Science and Technology (MoST), spoke about the need for technological innovation in reaching net zero.
The bad news: Basically, most existing technologies are immature.

Fu said this lack of maturit...

sources

Yicai: 科技部官员：实现碳达峰碳中和任务艰巨，急需科技支撑引领

September 16, 2021

More pressure on platforms to self-censor

Clean it up, now. Yesterday, the Cyberspace Administration of China (CAC) issued an Opinion putting more pressure on Internet platforms to bear the main responsibility for information content management. Some context: Zhuang Rongwen, CAC director, emphasized that online public opinion is the most im…

Clean it up, now.
Yesterday, the Cyberspace Administration of China (CAC) issued an Opinion putting more pressure on Internet platforms to bear the main responsibility for information content management.
Some context: Zhuang Rongwen, CAC director, emphasized that online public opinion is the most im...

sources

CAC: 关于进一步压实网站平台信息内容管理主体责任的意见

September 16, 2021

MofCom on promoting consumption

Today, the Ministry of Commerce published a list of key tasks for promoting consumption. On the to-do list: the “healthy and sustainable” development of e-commerce. What MofCom said they want to promote: Livestreaming e-commerce and social e-commerce Use of big data to carry out personalized custom…

Today, the Ministry of Commerce published a list of key tasks for promoting consumption. On the to-do list: the "healthy and sustainable" development of e-commerce. What MofCom said they want to promote:

Livestreaming e-commerce and social e-commerce
Use of big data to carry out personalized custom...

sources

MofCom: 商务部关于进一步做好当前商务领域促消费重点工作的通知

September 16, 2021

Do we have to talk about 6G?

We don’t usually cover the 6G conversation in China, because it’s still so pie-in-the-sky. But there’s no getting around it: Policymakers are starting to talk commercial 6G applications. Today, MIIT hosted the opening ceremony of the IMT-2030 promotion group. The group’s purpose: Get 6G to commerc…

We don't usually cover the 6G conversation in China, because it's still so pie-in-the-sky.
But there's no getting around it: Policymakers are starting to talk commercial 6G applications.
Today, MIIT hosted the opening ceremony of the IMT-2030 promotion group. The group's purpose: Get 6G to commerc...

sources

MIIT: IMT-2030（6G）推进组6G研讨会开幕

September 16, 2021

The Didi user sieve

Didi is losing users. Fast. Today, the FT also reported that daily user numbers are down 30% since the IPO fiasco. Regular Blips readers will know that there’s a multitude of factors contributing to the rapid drop-off: The ongoing data security investigation into the company Didi’s competitors movi…

Didi is losing users. Fast. Today, the FT also reported that daily user numbers are down 30% since the IPO fiasco. Regular Blips readers will know that there's a multitude of factors contributing to the rapid drop-off:

The ongoing data security investigation into the company
Didi’s competitors movi...

sources

Financial Times: Didi loses 30% of daily users after Beijing crackdown following IPO

September 16, 2021

Speaking of content control

Today, the Financial Times reported that the CAC has begun targeting bloggers and social media pundits who spread either fraudulent misinformation or pessimistic views on China’s economy and the financial sector. Several commentators, each with millions of online followers, have seen their account…

Several commentators, each with millions of online followers, have seen their account...

sources

Financial Times: Financial blogger crackdown leaves China investors scrabbling for data

CAC: 国家网信办启动清朗·商业网站平台和“自媒体”违规采编发布财经类信息专项整治

September 16, 2021

Welcome to Online Content Control 2.0

Welcome to Online Content Control 2.0, with tighter restrictions, better tools, bigger compliance burdens, and higher political expectations. Yesterday, we talked you through a newly issued Party document on building a “civilized internet” and told you to expect content control crackdowns to intensi…

Welcome to Online Content Control 2.0, with tighter restrictions, better tools, bigger compliance burdens, and higher political expectations.
Yesterday, we talked you through a newly issued Party document on building a “civilized internet” and told you to expect content control crackdowns to intensi...

sources

CAC: 关于进一步压实网站平台信息内容管理主体责任的意见

September 16, 2021

Tick, tick, tick…

On Wednesday, Bloomberg reported that authorities have told China Evergrande Group’s major creditors that the flailing developer will be unable to pay interest on its loans next week. Citing unnamed sources, Bloomberg reported that the Ministry of Housing and Urban-Rural Development told banks in a…

On Wednesday, Bloomberg reported that authorities have told China Evergrande Group’s major creditors that the flailing developer will be unable to pay interest on its loans next week.

Citing unnamed sources, Bloomberg reported that the Ministry of Housing and Urban-Rural Development told banks in a...

sources

Bloomberg: China Tells Banks Evergrande Won’t Pay Interest Next Week

September 16, 2021

MLF unchanged

On Wednesday, the People’s Bank of China (PBoC) kept total funds outstanding under the medium-term lending facility (MLF) unchanged. The central bank lent RMB 600 billion to banks through via the MLF, but at the same time RMB 600 billion worth of outstanding MLF loans matured. Color us surprised. …

On Wednesday, the People’s Bank of China (PBoC) kept total funds outstanding under the medium-term lending facility (MLF) unchanged.

The central bank lent RMB 600 billion to banks through via the MLF, but at the same time RMB 600 billion worth of outstanding MLF loans matured.

Color us surprised.
...

sources

PBoC: 公开市场业务交易公告 [2021]第182号

The Paper: 分析｜央行9月等量续做6000亿MLF，年内资金面如何走

September 16, 2021

Regulatory roulette

On Wednesday, Macau kicked off a 45-day public consultation on the city’s gaming laws. Some context: Tiny Macau (pop. 640,000) is the only place in China where gambling is legal. With annual gambling revenues of over USD 30 billion, Macau has – by far – the largest gambling revenue of any city in t…

On Wednesday, Macau kicked off a 45-day public consultation on the city’s gaming laws.
Some context: Tiny Macau (pop. 640,000) is the only place in China where gambling is legal.

With annual gambling revenues of over USD 30 billion, Macau has – by far – the largest gambling revenue of any city in t...

sources

GGRAsia: Macau govt vows push for mass play, strict table allocation

YOGOnet: Macau to hold a public consultation to review the city's gaming law

Bloomberg: Macau Casinos See $18 Billion Wipeout as China Tightens Grip

September 16, 2021

Southbound and down

Mark your calendars! On Wednesday, the Hong Kong Monetary Authority (HKMA) announced that mainland investors would be allowed to purchase offshore debt in Hong Kong via the “southbound leg” of the Bond Connect starting on September 24. Some context: The long awaited opening of the southbound leg fol…

Mark your calendars!
On Wednesday, the Hong Kong Monetary Authority (HKMA) announced that mainland investors would be allowed to purchase offshore debt in Hong Kong via the “southbound leg” of the Bond Connect starting on September 24.
Some context: The long awaited opening of the southbound leg fol...

sources

Reuters: UPDATE 1-China to ease outbound investment with Southbound Bond Connect

HKMA: HKMA welcomes Southbound Trading under Bond Connect

SCMP: China gives the nod for investors to buy offshore debt via Hong Kong, opening the southbound leg of Bond Connect

The Paper: 债券通“南向通”于9月24日上线，年度总额度5000亿元

September 16, 2021

No piggy parachute

Pig farmers will be reckoning with a brutal, volatile market for the foreseeable future. That was the message from the Ministry of Agriculture and Rural Affairs (MARA) on Tuesday, as they politely shot down a proposal to institute a minimum purchase price for live pigs from Xu Dequan – a Natio…

Pig farmers will be reckoning with a brutal, volatile market for the foreseeable future.
That was the message from the Ministry of Agriculture and Rural Affairs (MARA) on Tuesday, as they politely shot down a proposal to institute a minimum purchase price for live pigs from Xu Dequan – a Natio...

sources

MARA: 对十三届全国人大四次会议第6776号建议的答复

EastMoney: 中金：产能未见顶生猪周期未结束

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