string(13) "markets-macro"

Macro

September 10, 2021

No overseas financing for HelloBike

Alibaba’s Hellobike needs money, and now it can’t get any from overseas. Recap: Back in July, after the Didi debacle, Hellobike scrapped its plans to list in the US. Cash crunch: Bloomberg reported that the bike-sharing platform is looking to raise money domestically, but at a lower valuation than… Username Password Remember Me Forgot Password

Alibaba's Hellobike needs money, and now it can't get any from overseas.
Recap: Back in July, after the Didi debacle, Hellobike scrapped its plans to list in the US.
Cash crunch: Bloomberg reported that the bike-sharing platform is looking to raise money domestically, but at a lower valuation than...

sources

Bloomberg: Ant-Backed Hello Seeking Funds at Likely Lower Valuation

September 10, 2021

Local regulators eye ride hailing industry

Local regulators are starting to respond to the central government’s call to clean up the ride-hailing industry. Background: Yesterday, we told you that the Ministry of Transport issued a notice urging local governments to start tightening the screws on ride-hailing companies. Tianjin is all over …

Local regulators are starting to respond to the central government's call to clean up the ride-hailing industry.
Background: Yesterday, we told you that the Ministry of Transport issued a notice urging local governments to start tightening the screws on ride-hailing companies.
Tianjin is all over ...

sources

Sina: 天津六部门约谈滴滴等8家网约车平台

September 10, 2021

Alibaba’s RMB 100 billion “common prosperity” pledge

Alibaba would like you to know that not a single part of its RMB 100 billion “common prosperity” pledge will go towards lining its own coffers. Frankly, the company is offended you would suggest such a thing. On Wednesday, Hu Xiaoming, the point person for Alibaba’s philanthropic initiatives, to…

Alibaba would like you to know that not a single part of its RMB 100 billion "common prosperity" pledge will go towards lining its own coffers.

Frankly, the company is offended you would suggest such a thing.

On Wednesday, Hu Xiaoming, the point person for Alibaba’s philanthropic initiatives, to...

sources

Caixin: 专访阿里胡晓明：千亿共同富裕投入需可审计可计量

September 10, 2021

Nio to raise cash in NY

On Wednesday, US-listed Chinese electric vehicle maker Nio Inc. announced plans to raise up to USD 2 billion via American depositary shares (ADSs). If approved, the Nio offering would be the largest by a Chinese firm since the June 30 Didi IPO debacle. Since the June IPO, Beijing has upped regulato…

On Wednesday, US-listed Chinese electric vehicle maker Nio Inc. announced plans to raise up to USD 2 billion via American depositary shares (ADSs).
If approved, the Nio offering would be the largest by a Chinese firm since the June 30 Didi IPO debacle.

Since the June IPO, Beijing has upped regulato...

sources

Bloomberg: Nio Eyes U.S. Stock Sale in Biggest China Offering Since Didi

Bloomberg: Nio’s Hong Kong Listing Faces Delay Into Next Year

September 10, 2021

China sells crude oil from state reserves in bid to contain prices

On Thursday, China announced it would release crude oil from its strategic reserve to rein in high upstream inflationary pressures. The National Food and Strategic Reserves Administration (NFSRA) confirmed it has auctioned oil in batches to domestic refining and chemicals companies. The NFSRA did …

On Thursday, China announced it would release crude oil from its strategic reserve to rein in high upstream inflationary pressures.

The National Food and Strategic Reserves Administration (NFSRA) confirmed it has auctioned oil in batches to domestic refining and chemicals companies.

The NFSRA did ...

sources

NFSRA: 国家粮食和物资储备局组织投放国家储备原油

Bloomberg: China Intervenes in Oil Market With Historic Sale of Reserves

Financial Times: China to sell oil from state reserves in bid to contain prices

September 10, 2021

Game Stop

On Wednesday, Chinese regulators met mobile gaming giants Tencent and Netease to demand their compliance with new regulations on game time limits for young players, among other grievances. The government made sure the companies heard them. According to reports, regulators announced plans to freeze …

On Wednesday, Chinese regulators met mobile gaming giants Tencent and Netease to demand their compliance with new regulations on game time limits for young players, among other grievances.
The government made sure the companies heard them.

According to reports, regulators announced plans to freeze ...

sources

Bloomberg: China Tells Gaming Firms to End ‘Solitary’ Focus on Profit

Caixin: 多部委约谈腾讯、网易强化未成年人防沉迷和游戏“氪金”管控

September 10, 2021

PBoC confirms relending boost

On Thursday, the People’s Bank of China (PBoC) said it would increase re-lending to banks by RMB 300 billion over the last four months of the year. The increase is designed to increase bank loans to small firms. Some context: The State Council flagged the increase on September 1. However, given t…

On Thursday, the People’s Bank of China (PBoC) said it would increase re-lending to banks by RMB 300 billion over the last four months of the year.

The increase is designed to increase bank loans to small firms.

Some context: The State Council flagged the increase on September 1.

However, given t...

sources

PBoC: 人民银行新增3000亿元支小再贷款额度加大对中小微企业纾困帮扶力度

September 10, 2021

A little breathing space for Evergrande

On Thursday, Bloomberg reported Beijing has given its approval for China Evergrande Group to negotiate debt extensions with its creditors. Citing an unnamed source, Bloomberg said the Financial Stability and Development Committee (FSDC) gave its approval last month after the developer missed paymen…

On Thursday, Bloomberg reported Beijing has given its approval for China Evergrande Group to negotiate debt extensions with its creditors.

Citing an unnamed source, Bloomberg said the Financial Stability and Development Committee (FSDC) gave its approval last month after the developer missed paymen...

sources

Bloomberg: China Lets Evergrande Reset Debt Terms to Ease Cash Crunch

September 10, 2021

Bring out your debt

On Wednesday, the central bank (PBoC) reported that the country’s macro leverage ratio had fallen for a third consecutive quarter. In Q2 2021, China’s macro leverage ratio stood at 274.9%. That’s down from 276.8% in Q1 2021; 279.4% in Q4 2020; and 281.0% in Q3 2020. The central bank attributed the…

On Wednesday, the central bank (PBoC) reported that the country's macro leverage ratio had fallen for a third consecutive quarter.

In Q2 2021, China's macro leverage ratio stood at 274.9%.
That's down from 276.8% in Q1 2021; 279.4% in Q4 2020; and 281.0% in Q3 2020.

The central bank attributed the...

sources

Jiemian: 央行：中国宏观杠杆率连续三个季度回落，企业部门降幅最大

September 9, 2021

Xi calls Tajik president

On Tuesday, Xi Jinping had a phone call with his good buddy, Tajik President Emomali Rahmon. (The Central Asian leader, in power since 1992, could give tips on longevity, but they spoke of other things.) Xi congratulated Tajikistan on the 30th anniversary of its independence, and hailed the health o…

On Tuesday, Xi Jinping had a phone call with his good buddy, Tajik President Emomali Rahmon.
(The Central Asian leader, in power since 1992, could give tips on longevity, but they spoke of other things.)
Xi congratulated Tajikistan on the 30th anniversary of its independence, and hailed the health o...

sources

MoFA: Xi Jinping Speaks with Tajik President Emomali Rahmon on the Phone

September 9, 2021

CBIRC approves establishment of national pension company

On Wednesday, the China Banking and Insurance Regulatory Commission (CBIRC) approved the establishment of the National Pension Insurance Company. Caixin had the deets: “The company has registered capital of 11.15 billion yuan and will be based in Beijing.” “Seventeen financial institutions will tak…

On Wednesday, the China Banking and Insurance Regulatory Commission (CBIRC) approved the establishment of the National Pension Insurance Company.
Caixin had the deets:

“The company has registered capital of 11.15 billion yuan and will be based in Beijing.”
“Seventeen financial institutions will tak...

sources

The Paper: 银保监会批复筹建国民养老保险公司，注册资本为111.5亿

Caixin: Four Things to Know About China’s New National Pension Insurance Company

September 9, 2021

The sky is low and the emperor is nearby

On Wednesday, the Beijing municipal government published its five-year plan (FYP) for improving the city’s business environment. We’ll admit it, we were underwhelmed, at first. The plan is full of familiar vague goals like better protecting intellectual property and making government registration …

On Wednesday, the Beijing municipal government published its five-year plan (FYP) for improving the city’s business environment.
We'll admit it, we were underwhelmed, at first.

The plan is full of familiar vague goals like better protecting intellectual property and making government registration ...

sources

21st Century Biz: 北京市印发《北京市“十四五”时期优化营商环境规划》

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