string(13) "markets-macro"

Macro

September 3, 2021

Ant Group let state investment in

On Wednesday, Reuters reported that state-backed firms will take a significant stake in Ant Group’s soon-to-launch personal credit-scoring joint venture (JV). Background: Back in April, during the fallout after Ant’s IPO cancellation, the central bank ordered Ant to restructure – this JV is the resu… Username Password Remember Me Forgot Password

On Wednesday, Reuters reported that state-backed firms will take a significant stake in Ant Group’s soon-to-launch personal credit-scoring joint venture (JV).
Background: Back in April, during the fallout after Ant’s IPO cancellation, the central bank ordered Ant to restructure – this JV is the resu...

sources

Reuters: EXCLUSIVE Chinese state firms to take big stake in Ant's credit-scoring JV -sources

September 3, 2021

SMIC expands production capability

Today, China’s biggest chip maker, Semiconductor Manufacturing International Corp (SMIC), announced that it will invest nearly USD 9 billion to expand production capacity. Long term, this is lovely news for China’s tech sector, given current short-term chip shortages and an overall strategic depend…

Today, China’s biggest chip maker, Semiconductor Manufacturing International Corp (SMIC), announced that it will invest nearly USD 9 billion to expand production capacity.
Long term, this is lovely news for China’s tech sector, given current short-term chip shortages and an overall strategic depend...

sources

Reuters: China’s SMIC to invest $8.87 bln for new chip plant in Shanghai

September 3, 2021

Home sharing platforms under scrutiny

In Beijing, home sharing platforms are coming under scrutiny yet again. Today, Caixin reported that “a majority of non-hotel listings have been removed from Airbnb-style short-term rental platforms on the orders of the city government.” Background: China has strict requirements on hotels for guest…

In Beijing, home sharing platforms are coming under scrutiny yet again.
Today, Caixin reported that “a majority of non-hotel listings have been removed from Airbnb-style short-term rental platforms on the orders of the city government.”
Background: China has strict requirements on hotels for guest...

sources

Caixin: Airbnb-Style Rental Platforms Ordered to Remove Beijing Listings, Sources Say

September 3, 2021

Unscrupulous practices

Antennas up: Today, an article in state media took aim at unscrupulous practices on Chinese home rental platforms. The behavior that was criticized: Platforms partnering with lending firms to extend unwise loans to potential renters, obstructing communication between renters and landlords to cover …

Antennas up: Today, an article in state media took aim at unscrupulous practices on Chinese home rental platforms.
The behavior that was criticized: Platforms partnering with lending firms to extend unwise loans to potential renters, obstructing communication between renters and landlords to cover ...

sources

People.cn: 别让中介平台成为租房“烦恼源”

September 3, 2021

Alibaba’s Common Prosperity FOMO

Yesterday, not to be outdone by Tencent’s recent mega-donations to the common good, Alibaba announced it will launch the “Top Ten Alibaba Actions for Common Prosperity” – including investing RMB 100 billion into… good things… by 2025. Our take: Big tech is falling all over itself to throw money a…

Yesterday, not to be outdone by Tencent’s recent mega-donations to the common good, Alibaba announced it will launch the "Top Ten Alibaba Actions for Common Prosperity" – including investing RMB 100 billion into… good things... by 2025.
Our take: Big tech is falling all over itself to throw money a...

sources

21st Century Biz: 阿里巴巴集团将投入1000亿元助力共同富裕

September 3, 2021

Respect (just a little bit)

On Thursday, China’s top diplomat Yang Jiechi spoke to US special climate envoy John Kerry via videolink. ICYMI: Kerry is in Tianjin this week for climate-focused meetings with Chinese officials. During their meeting, Yang reiterated Beijing’s refrain that trust is a prerequisite for climate coopera…

On Thursday, China’s top diplomat Yang Jiechi spoke to US special climate envoy John Kerry via videolink.
ICYMI: Kerry is in Tianjin this week for climate-focused meetings with Chinese officials.
During their meeting, Yang reiterated Beijing’s refrain that trust is a prerequisite for climate coopera...

sources

MoFA: 杨洁篪同美国总统气候问题特使克里举行视频会见

CGTN: Yang Jiechi tells U.S. climate envoy Kerry to bring China-U.S. ties back on right track

September 3, 2021

Han Zheng talks to Kerry on climate

ICYMI: US climate envoy John Kerry was in Tianjin, China, for the past two days for talks to save the world. On Thursday, Kerry had his most senior “meeting”. Via videolink, he spoke with Politburo Standing Committee member and Executive Vice Premier Han Zheng – the 7th most powerful man in China. …

ICYMI: US climate envoy John Kerry was in Tianjin, China, for the past two days for talks to save the world.
On Thursday, Kerry had his most senior "meeting".

Via videolink, he spoke with Politburo Standing Committee member and Executive Vice Premier Han Zheng - the 7th most powerful man in China.
...

sources

Gov.cn: 韩正同美国总统气候问题特使克里举行视频会见

WSJ: Climate Change Is ‘Not a Geostrategic Weapon,’ Kerry Tells Chinese Leaders

September 3, 2021

Trader Zhou’s

On Thursday, Xi took to the podium (okay, sat at a desk on videolink) to kick off the Global Trade in Services Summit of the 2021 China International Fair for Trade in Services. Look, we didn’t pick the name. Xi’s speech was barely 350 words (translated). Nonetheless, he pledged further opening up…

On Thursday, Xi took to the podium (okay, sat at a desk on videolink) to kick off the Global Trade in Services Summit of the 2021 China International Fair for Trade in Services.

Look, we didn't pick the name.

Xi's speech was barely 350 words (translated).
Nonetheless, he pledged further opening up...

sources

MofCom: 习近平在2021年中国国际服务贸易交易会全球服务贸易峰会上发表视频致辞

MOD: 习近平在2021年中国国际服务贸易交易会全球服务贸易峰会上的致辞

September 3, 2021

Ant to set up credit-reporting JV with state firms

On Wednesday, Reuters reported that state firms will take a big stake in Ant Group’s personal credit-scoring joint venture (JV). Some context: This is part of Ant’s financial restructuring plan laid out by the central bank (PBoC) in April. The deets (Reuters): Three SOEs – Z…

On Wednesday, Reuters reported that state firms will take a big stake in Ant Group’s personal credit-scoring joint venture (JV).
Some context: This is part of Ant’s financial restructuring plan laid out by the central bank (PBoC) in April.
The deets (Reuters):

Three SOEs – Z...

sources

PBoC: 中国人民银行副行长潘功胜就金融管理部门再次约谈蚂蚁集团情况答记者问

Reuters: EXCLUSIVE Chinese state firms to take big stake in Ant's credit-scoring JV -sources

September 3, 2021

A new exchange for Beijing

On Thursday, Xi Jinping said China would set up a new stock exchange in Beijing dedicated to small and medium-sized firms (SMEs). Speaking at the China International Fair for Trade in Services, Xi said that: The Beijing Stock Exchange will create a platform for innovative SMEs The authorities will …

The Beijing Stock Exchange will create a platform for innovative SMEs
The authorities will ...

sources

State Council: 习近平在2021年中国国际服务贸易交易会全球服务贸易峰会上的致辞

CSRC: 证监会负责人就深化新三板改革设立北京证券交易所答记者问

September 3, 2021

Sugar baba

It looks like someone’s feeling the love. On Thursday, Alibaba Group Holding Ltd. pledged RMB 100 billion to fund “common prosperity” initiatives. Some context: On August 17, Xi Jinping delivered a speech at a meeting of the Central Commission for Financial and Economic Affairs (CCFEA), in which he …

It looks like someone's feeling the love.
On Thursday, Alibaba Group Holding Ltd. pledged RMB 100 billion to fund "common prosperity" initiatives.
Some context: On August 17, Xi Jinping delivered a speech at a meeting of the Central Commission for Financial and Economic Affairs (CCFEA), in which he ...

sources

NBD: 出手就是1000亿！阿里助力“共同富裕”措施公布，这些人将直接获益！盘前市值应声暴涨1200亿

Bloomberg: Alibaba Pledges $15.5 Billion to Xi’s ‘Common Prosperity’ Drive

September 3, 2021

MoT gives ride-hailing apps a one-star rating

On Wednesday, five regulators – including the Ministry of Transport (MoT), the State Administration for Market Regulation (SAMR), and the Cybersecurity Administration of China (CAC) – summoned 11 ride-hailing companies for a dressing down on illegal behavior. Some context: After CAC announced its cy…

sources

Bloomberg: China Tells Meituan, Didi to Fix ‘Misconduct’ by Year-End

Jiemian: 五部门联合约谈滴滴出行等11家网约车平台公司

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