string(13) "markets-macro"

Macro

November 5, 2024

Direct local government bailouts look unlikely

It looks like the central government is opting not to bail out local governments from their hidden debt loads as part of the incoming fiscal support package. ICYMI: In mid-October, the finance ministry (MoF) indicated that the legislature (NPCSC) would approve a one-off “relatively large” issua… Username Password Remember Me Forgot Password

It looks like the central government is opting not to bail out local governments from their hidden debt loads as part of the incoming fiscal support package.
ICYMI: In mid-October, the finance ministry (MoF) indicated that the legislature (NPCSC) would approve a one-off “relatively large” issua...

sources

People.cn: 十四届全国人大常委会第十二次会议在京举行

November 5, 2024

US drone company sanctioned by China forced to ration batteries

Is Beijing’s retaliatory strategy evolving? On Thursday, FT reported that the largest US drone maker, Skydio, is facing a supply chain crisis after it was sanctioned by China in October. Some background: Skydio was named as a target for “countermeasures” under China’s Anti-Foreign Sanctions Law. A…

Is Beijing's retaliatory strategy evolving?
On Thursday, FT reported that the largest US drone maker, Skydio, is facing a supply chain crisis after it was sanctioned by China in October.
Some background: Skydio was named as a target for "countermeasures" under China's Anti-Foreign Sanctions Law.

A...

sources

FT: Chinese sanctions hit US drone maker supplying Ukraine

Global Times: 被中方制裁的美企“喊疼”撕开美式假面

November 5, 2024

MIIT lowers barriers to entry for startup incubators

China is making it easier for startups to access funding and services. On Friday, the industrial ministry (MIIT) released draft regulations that specify qualifications and assessment metrics for tech incubators. These regulations would, for example, be used to determine if an incubator qualifies f…

China is making it easier for startups to access funding and services.
On Friday, the industrial ministry (MIIT) released draft regulations that specify qualifications and assessment metrics for tech incubators.

These regulations would, for example, be used to determine if an incubator qualifies f...

sources

MIIT: 公开征求《科技型企业孵化器认定管理办法（征求意见稿）》的意见

MIIT: 科技部关于印发《科技企业孵化器管理办法》的通知

November 5, 2024

PBoC Watch: China’s central bank gears up for a more aggressive role

To view the PBoC Watch as a pdf, click here. China’s central bank (PBoC) is becoming increasingly aggressive in its efforts to support the economy. The shift became especially evident in October, when the PBoC launched two new credit facilities designed to boost the stock market. While Beijing has …

To view the PBoC Watch as a pdf, click here.
China's central bank (PBoC) is becoming increasingly aggressive in its efforts to support the economy.
The shift became especially evident in October, when the PBoC launched two new credit facilities designed to boost the stock market.

While Beijing has ...

November 4, 2024

Building the vocational talent pipeline

On Sunday, Premier Li Qiang paid a visit to Nanhu Vocational and Technical College in Shanghai. Some context: China is facing a shortage of some 20 million skilled industrial workers. Plugging this hole will be critical to achieving Beijing’s goals of economic upgrading and technological independen…

On Sunday, Premier Li Qiang paid a visit to Nanhu Vocational and Technical College in Shanghai.
Some context: China is facing a shortage of some 20 million skilled industrial workers.

Plugging this hole will be critical to achieving Beijing’s goals of economic upgrading and technological independen...

sources

People.cn: 李强在上海调研技能人才工作时强调积极适应经济社会发展需要大力加强职业教育和技能人才培养

November 4, 2024

Premier Li Qiang cancels customary meeting with incoming Macau chief executive

On Friday, Xi Jinping met with Macau’s incoming chief executive, Sam Hou Fai, in Beijing. Some context: The chief executive is the special administrative region’s head of government. Premier Li Qiang approved Sam’s appointment during the State Council plenary session on October 25, though Sam won’t…

On Friday, Xi Jinping met with Macau’s incoming chief executive, Sam Hou Fai, in Beijing.
Some context: The chief executive is the special administrative region's head of government.

Premier Li Qiang approved Sam’s appointment during the State Council plenary session on October 25, though Sam won't...

sources

Xinhua: 李强主持召开国务院第六次全体会议决定任命岑浩辉为澳门特别行政区第六任行政长官

Xinhua: 习近平会见澳门特别行政区候任行政长官岑浩辉

Xinhua: 习近平听取贺一诚述职报告

November 4, 2024

Xi meets Slovakian Prime Minister

Beijing just can’t get enough of small, friendly EU states. On Friday, Xi Jinping met with Slovakian Prime Minister Robert Fico in Beijing. Some context: Slovakia ranks among Europe’s largest auto manufacturing hubs, with the sector accounting for over 50% of the country’s industrial output – leavin…

Beijing just can’t get enough of small, friendly EU states.
On Friday, Xi Jinping met with Slovakian Prime Minister Robert Fico in Beijing.
Some context: Slovakia ranks among Europe’s largest auto manufacturing hubs, with the sector accounting for over 50% of the country's industrial output – leavin...

sources

Gov.cn: 习近平会见斯洛伐克总理菲佐

SCMP: Slovakia keen to join China-led group on Ukraine war, visiting leader tells Xi Jinping

November 4, 2024

Chinese regulators relax foreign strategic investment rules

Regulators are making it easier for foreigners to become strategic investors in Chinese listed companies. On Friday, the securities regulator, commerce ministry, and six other government agencies jointly published measures reducing the threshold for foreigners to take strategic stakes in listed comp…

Regulators are making it easier for foreigners to become strategic investors in Chinese listed companies.
On Friday, the securities regulator, commerce ministry, and six other government agencies jointly published measures reducing the threshold for foreigners to take strategic stakes in listed comp...

sources

CSRC: 商务部、中国证监会等六部门有关司局负责人就《外国投资者对上市公司战略投资管理办法》答记者问

CSRC: 商务部、中国证监会、国务院国资委、税务总局、市场监管总局、国家外汇局令2024年第3号外国投资者对上市公司战略投资管理办法

November 4, 2024

Home sales by top developers break losing streak in October

October showed further signs that the property sector decline is bottoming out. According to the latest data from China Real Estate Information Corp. (CRIC), an independent data provider: In October, new home sales by China’s top 100 developers grew 73% m/m to RMB 435.49 billion. Year-on-year, sale…

October showed further signs that the property sector decline is bottoming out.
According to the latest data from China Real Estate Information Corp. (CRIC), an independent data provider:

In October, new home sales by China’s top 100 developers grew 73% m/m to RMB 435.49 billion.
Year-on-year, sale...

sources

CRIC: 2024年1-10月中国房地产企业销售TOP100排行榜

China Index Academy: 10月楼市升温！广深新房销售翻番，行情能否延续？

November 4, 2024

New US-China trade war could reshape global agricultural markets

Tuesday’s US presidential election could have major, long term impacts for Chinese agricultural commodities purchasing. On Friday, Reuters reported that China has restructured its ag product imports to reduce reliance on the US for key crops. The US went from supplying: 40% of China’s soybeans in 2…

Tuesday's US presidential election could have major, long term impacts for Chinese agricultural commodities purchasing.
On Friday, Reuters reported that China has restructured its ag product imports to reduce reliance on the US for key crops. The US went from supplying:

40% of China's soybeans in 2...

sources

Reuters: China pivot from US farm imports bolsters it against trade war risks

Chinese Academy of Agricultural Sciences: 2024年玉米产业形势判断与趋势分析

US NCGA: Trade Study: How Potential New Tariffs Could Impact U.S. Soybeans and Corn

November 4, 2024

PBoC issues new medium-term reverse repos

China’s central bank (PBoC) is leaning quickly into its new monetary policy tools, as it seeks to better manage medium-term interest rates. On Thursday, the PBoC said it issued RMB 500 billion worth of six-month reverse repos in October, its first use of the tool. PBoC issuance of reverse repos inj…

China’s central bank (PBoC) is leaning quickly into its new monetary policy tools, as it seeks to better manage medium-term interest rates.
On Thursday, the PBoC said it issued RMB 500 billion worth of six-month reverse repos in October, its first use of the tool.

PBoC issuance of reverse repos inj...

sources

PBoC: 公开市场买断式逆回购业务公告 [2024]第1号

PBoC: 国债买卖业务公告 [2024]第3号

November 2, 2024

MIIT releases data security preparedness plan

China is battening down the hatches against cyberattacks. On Friday, the Ministry of Industry and Information Technology (MIIT) released a trial data security emergency preparedness plan for the industrial and IT sectors. The plan outlines the emergency mechanism the state will establish to respon…

China is battening down the hatches against cyberattacks.
On Friday, the Ministry of Industry and Information Technology (MIIT) released a trial data security emergency preparedness plan for the industrial and IT sectors.
The plan outlines the emergency mechanism the state will establish to respon...

sources

MIIT: 工业和信息化部关于印发《工业和信息化领域数据安全事件应急预案（试行）》的通知

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