string(13) "markets-macro"

Macro

September 14, 2021

A little glimpse into the auto chip shortage

A little glimpse into just how bad the auto chip shortage has gotten: Bosch Electronic Stability Program (ESP) chips that used to go for RMB 13 are selling on China’s black market for RMB 4,000 — a 300x increase. Tech recap: ESP chips underpin skid prevention safety features, like anti-lock brake s… Username Password Remember Me… Read More »

A little glimpse into just how bad the auto chip shortage has gotten: Bosch Electronic Stability Program (ESP) chips that used to go for RMB 13 are selling on China’s black market for RMB 4,000 — a 300x increase.
Tech recap: ESP chips underpin skid prevention safety features, like anti-lock brake s...

sources

Xinhua: Chinese regulator fines auto-chip dealers for price gouging

September 14, 2021

Beijing’s new eCNY pilot zone

Last Friday, Beijing launched a new digital yuan (eCNY) pilot zone in Fengtai Lize Business District. Who’s involved: The municipal government and the central bank’s Digital Currency Research Institute. The Fengtai Lize zone’s claim to fame: It will focus on developing applications at the intersec…

Last Friday, Beijing launched a new digital yuan (eCNY) pilot zone in Fengtai Lize Business District.
Who's involved: The municipal government and the central bank's Digital Currency Research Institute.
The Fengtai Lize zone’s claim to fame: It will focus on developing applications at the intersec...

sources

Beijing.gov: 北京市关于加快建设全球数字经济标杆城市的实施方案

September 14, 2021

Brushing up the STAR Market

Another day, another state media op-ed talking up the glories of the Shanghai STAR Market. Background: The STAR Market — aka the Science and Technology Innovation Board — was launched on the Shanghai Stock Exchange in June 2019. Beijing hopes it will become the NASDAQ of China. Current number of…

Another day, another state media op-ed talking up the glories of the Shanghai STAR Market.
Background: The STAR Market -- aka the Science and Technology Innovation Board -- was launched on the Shanghai Stock Exchange in June 2019. Beijing hopes it will become the NASDAQ of China.
Current number of...

sources

People.cn: 高业绩、高研发、高成长：“硬科技”释放科创板创新聚集效应

September 14, 2021

Double forced exclusivity

Yesterday, a Qingdao court ordered food-delivery platform Meituan to pay RMB 1 million in damages to rival Ele.me. Meituan’s no-no: The court ruled the company tried to force vendors to exclusively deal on its own platform by offering preferential treatment to those who did, and reducing delivery z…

Yesterday, a Qingdao court ordered food-delivery platform Meituan to pay RMB 1 million in damages to rival Ele.me.
Meituan's no-no: The court ruled the company tried to force vendors to exclusively deal on its own platform by offering preferential treatment to those who did, and reducing delivery z...

sources

Sina: 互诉不正当竞争两大外卖巨头双双被罚

September 14, 2021

Cornapalooza

China’s on track to harvest a record corn crop this year. On Friday, the US Department of Agriculture (USDA) forecast that the domestic corn crop would hit a record 273 million tons this year. Policy support helped nurture the bumper harvest (USDA): “Farmers were…encouraged…to reduce the area l…

China’s on track to harvest a record corn crop this year.
On Friday, the US Department of Agriculture (USDA) forecast that the domestic corn crop would hit a record 273 million tons this year.
Policy support helped nurture the bumper harvest (USDA):

“Farmers were...encouraged...to reduce the area l...

sources

Farm Policy: China Corn Production at Record Level, as U.S. Expecting Second Largest Corn Harvest Ever

USDA: World Agricultural Production Circular

September 14, 2021

Solve one problem and create another

Upstream production cuts are about to raise prices in several sectors. On Saturday, the Yunnan Provincial Development and Reform Commission announced production cuts through year-end to meet energy targets. Some context: Yunnan – like most provinces with significant heavy industry – saw y/y H1 incre…

Upstream production cuts are about to raise prices in several sectors.
On Saturday, the Yunnan Provincial Development and Reform Commission announced production cuts through year-end to meet energy targets.
Some context: Yunnan – like most provinces with significant heavy industry – saw y/y H1 incre...

sources

Cailianshe: 双控文件全网疯传！两大行业或减产90% 商品市场上演“超级大反转”

Reuters: China’s Yunnan imposes output curbs on aluminium, steel, cement makers

September 14, 2021

Mountains out of Anthills

On Monday, the Financial Times (FT) reported that the Chinese government will “break up Ant’s Alipay and force the creation of [a] separate loans app.” The immediate result: Ali shares closed down 4.2% in Hong Kong. The FT story isn’t wrong… Ant will indeed have to repackage its two lending servi…

On Monday, the Financial Times (FT) reported that the Chinese government will “break up Ant’s Alipay and force the creation of [a] separate loans app.”
The immediate result: Ali shares closed down 4.2% in Hong Kong.
The FT story isn’t wrong...

Ant will indeed have to repackage its two lending servi...

sources

FT: Beijing to break up Ant’s Alipay and force creation of separate loans app

September 14, 2021

Ximalaya trades US for HK

On Thursday, Tencent-backed online audio platform Ximalaya announced that it had dropped plans to IPO in the US. Then on Monday, the company submitted a listing application to the Hong Kong Stock Exchange (HKEX). The company plans to raise over USD 500 million in Hong Kong – the number it had inte…

The company plans to raise over USD 500 million in Hong Kong – the number it had inte...

sources

Wind: 喜马拉雅向港交所提交上市申请，上半年月活达2.62亿

SCMP: Tencent-backed podcasting platform Ximalaya to file for Hong Kong IPO after shelving plans for US listing

September 14, 2021

The Call of Chanthu

Over the course of Sunday and Monday, Typhoon Chanthu forced partial shutdowns at the Shanghai Port and the Ningbo-Zhoushan Port. Why that’s a big deal: Shanghai Port is the world’s busiest port, while Ningbo-Zhoushan is the world’s third-busiest. Tracking the typhoon: Chanthu hit wind speeds equiv…

Over the course of Sunday and Monday, Typhoon Chanthu forced partial shutdowns at the Shanghai Port and the Ningbo-Zhoushan Port.
Why that's a big deal: Shanghai Port is the world's busiest port, while Ningbo-Zhoushan is the world's third-busiest.
Tracking the typhoon:

Chanthu hit wind speeds equiv...

sources

Sofreight: 封港停航！超强台风直逼浙沪！宁波、上海港各大码头暂停进提箱

CNN: Typhoon forces two of China's busiest ports to suspend some operations

September 14, 2021

Al’s well that ends well

Yunnan aims to cut electrolytic aluminum production by 30% through year-end. That was the message in a Saturday notice on the dual control of energy consumption, issued by the Yunnan Development and Reform Commission. Behind the drastic cut is a province having played it loose and fast with directio…

Yunnan aims to cut electrolytic aluminum production by 30% through year-end.
That was the message in a Saturday notice on the dual control of energy consumption, issued by the Yunnan Development and Reform Commission.
Behind the drastic cut is a province having played it loose and fast with directio...

sources

Caixin: 云南落实能耗“双控” 电解铝限产30%至年底

September 14, 2021

Dead developer walking

On Monday, China Evergrande Group announced repayment plans for its wealth management products (WMPs) following protests by WMP investors over the weekend. Some context: Evergrande has a subsidiary, Evergrande Wealth, that creates investment products – WMPs – that are primarily financed by funds rai…

On Monday, China Evergrande Group announced repayment plans for its wealth management products (WMPs) following protests by WMP investors over the weekend.
Some context: Evergrande has a subsidiary, Evergrande Wealth, that creates investment products – WMPs – that are primarily financed by funds rai...

sources

Caixin: Evergrande Offers Retail Investors Three Payment Options

SCMP: Evergrande denies rumours of bankruptcy and reorganisation after weekend of protests at offices across China

September 14, 2021

The quota runs dry

On Tuesday, The Paper reported that China’s provinces have all but used up the RMB 200 billion quota of special purpose bonds (SPBs) set aside by the Ministry of Finance (MoF) for them to recapitalize their small banks. Based on The Paper’s calculation, 17 provinces have issued RMB 195.3 billion wo…

Based on The Paper’s calculation, 17 provinces have issued RMB 195.3 billion wo...

sources

The Paper: 两千亿中小银行专项债额度将用完，超九成注资对象来自农信系统

Pages: 1234567891011121314151617181920212223242526272829303132333435363738394041424344454647484950515253545556575859606162636465666768697071727374757677787980818283848586878889909192939495969798991001011021031041051061071081091101111121131141151161171181191201211221231241251261271281291301311321331341351361371381391401411421431441451461471481491501511521531541551561571581591601611621631641651661671681691701711721731741751761771781791801811821831841851861871881891901911921931941951961971981992002012022032042052062072082092102112122132142152162172182192202212222232242252262272282292302312322332342352362372382392402412422432442452462472482492502512522532542552562572582592602612622632642652662672682692702712722732742752762772782792802812822832842852862872882892902912922932942952962972982993003013023033043053063073083093103113123133143153163173183193203213223233243253263273283293303313323333343353363373383393403413423433443453463473483493503513523533543553563573583593603613623633643653663673683693703713723733743753763773783793803813823833843853863873883893903913923933943953963973983994004014024034044054064074084094104114124134144154164174184194204214224234244254264274284294304314324334344354364374384394404414424434444454464474484494504514524534544554564574584594604614624634644654664674684694704714724734744754764774784794804814824834844854864874884894904914924934944954964974984995005015025035045055065075085095105115125135145155165175185195205215225235245255265275285295305315325335345355365375385395405415425435445455465475485495505515525535545555565575585595605615625635645655665675685695705715725735745755765775785795805815825835845855865875885895905915925935945955965975985996006016026036046056066076086096106116126136146156166176186196206216226236246256266276286296306316326336346356366376386396406416426436446456466476486496506516526536546556566576586596606616626636646656666676686696706716726736746756766776786796806816826836846856866876886896906916926936946956966976986997007017027037047057067077087097107117127137147157167177187197207217227237247257267277287297307317327337347357367377387397407417427437447457467477487497507517527537547557567577587597607617627637647657667677687697707717727737747757767777787797807817827837847857867877887897907917927937947957967977987998008018028038048058068078088098108118128138148158168178188198208218228238248258268278288298308318328338348358368378388398408418428438448458468478488498508518528538548558568578588598608618628638648658668678688698708718728738748758768778788798808818828838848858868878888898908918928938948958968978988999009019029039049059069079089099109119129139149159169179189199209219229239249259269279289299309319329339349359369379389399409419429439449459469479489499509519529539549559569579589599609619629639649659669679689699709719729739749759769779789799809819829839849859869879889899909919929939949959969979989991000100110021003100410051006100710081009101010111012101310141015101610171018101910201021102210231024102510261027102810291030103110321033103410351036103710381039104010411042104310441045104610471048104910501051105210531054105510561057105810591060106110621063106410651066106710681069107010711072107310741075107610771078107910801081108210831084108510861087108810891090109110921093109410951096109710981099110011011102110311041105110611071108110911101111111211131114111511161117111811191120112111221123112411251126112711281129113011311132113311341135113611371138113911401141114211431144114511461147114811491150115111521153115411551156115711581159116011611162