string(13) "markets-macro"

Macro

August 18, 2021

NPC reviews draft amendments to seed law

Nurture them, watch ’em grow. On Tuesday, the National People’s Congress Standing Committee kicked off its bi-monthly session. As usual, there are a bunch of important pieces of legislation up for review… But we’re really nerding out about draft amendments to the Seed Law. ICYMI: At the Decemb… Username Password Remember Me Forgot… Read More »

Nurture them, watch 'em grow. On Tuesday, the National People’s Congress Standing Committee kicked off its bi-monthly session.
As usual, there are a bunch of important pieces of legislation up for review…
But we’re really nerding out about draft amendments to the Seed Law.
ICYMI: At the Decemb...

sources

NPC: 种子法修正草案提请审议加强知识产权保护激励育种原始创新

Legal Daily: 种子法修正草案提请审议拟扩大植物新品种权保护范围

August 18, 2021

SAMR to rein in unfair internet competition

On Tuesday, China’s market regulator (SAMR) dropped draft rules to rein in “unfair competition” in the internet sector. This is different from the antitrust law for internet platforms, which only targets the big guys: The draft rules will affect every Internet platform, as well as merchants o…

On Tuesday, China's market regulator (SAMR) dropped draft rules to rein in “unfair competition” in the internet sector.
This is different from the antitrust law for internet platforms, which only targets the big guys:

The draft rules will affect every Internet platform, as well as merchants o...

sources

SAMR: 市场监管总局关于《禁止网络不正当竞争行为规定（公开征求意见稿）》征求意见的通知

Caixin: 网络不正当竞争监管细化 “屏蔽链接”“反向刷单”纳入监管

SAMR: 中华人民共和国反不正当竞争法

August 18, 2021

Mission critical (infrastructure)

Better late than never? On Tuesday, the State Council dropped the Critical Information Infrastructure Security and Protection Regulations. Finally! The first draft was published in 2017. Some context: “Critical Information Infrastructure” (CII) is network equipment that could endanger …

Better late than never?
On Tuesday, the State Council dropped the Critical Information Infrastructure Security and Protection Regulations.

Finally! The first draft was published in 2017.

Some context: "Critical Information Infrastructure" (CII) is network equipment that could endanger ...

sources

Gov.cn: 关键信息基础设施安全保护条例

Secrss: 《关键信息基础设施安全保护条例》发布：将带来百亿级增量市场

August 18, 2021

More provinces issue SPBs for banks

X. Jiangxi, Shaanxi provinces issue SPBs to replenish bank capital A couple more provinces plan to issue special purpose bonds (SPBs) to replenish the capital of their small banks. On Monday, The Paper reported that Shaanxi province intends to issue RMB 4.6 billion worth of SPBs. The funds raised w…

X. Jiangxi, Shaanxi provinces issue SPBs to replenish bank capital
A couple more provinces plan to issue special purpose bonds (SPBs) to replenish the capital of their small banks.
On Monday, The Paper reported that Shaanxi province intends to issue RMB 4.6 billion worth of SPBs.

The funds raised w...

sources

The Paper: 陕西将发行46亿专项债，注资20家县级农信社和秦农银行

The Paper: 江西将发79亿专项债，注资九江银行、江西银行等4家城商行

August 18, 2021

Xi puts the communist back in the Communist Party

Comrades, we need to make some progress on this whole communism thing. That’s the message coming out of Tuesday’s meeting of the Central Commission for Financial and Economic Affairs (CCFEA), which was chaired by Xi Jinping. Some context: The CCFEA is the Party’s top body for deliberating economic s…

Comrades, we need to make some progress on this whole communism thing.
That’s the message coming out of Tuesday’s meeting of the Central Commission for Financial and Economic Affairs (CCFEA), which was chaired by Xi Jinping.
Some context: The CCFEA is the Party’s top body for deliberating economic s...

sources

Xinhua: 习近平主持召开中央财经委员会第十次会议强调在高质量发展中促进共同富裕统筹做好重大金融风险防范化解工作

August 18, 2021

Evergrande founder drops a hat

X. Evergrande founder steps down as chairman of key subsidiary On Tuesday, Hui Ka Yan, founder of China Evergrande Group, quietly stepped down from his role as chairman of Hengda Real Estate Group, Evergrande’s mainland property development business. Evergrande didn’t release the information in a s…

X. Evergrande founder steps down as chairman of key subsidiary
On Tuesday, Hui Ka Yan, founder of China Evergrande Group, quietly stepped down from his role as chairman of Hengda Real Estate Group, Evergrande’s mainland property development business.

Evergrande didn’t release the information in a s...

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Bloomberg: Evergrande Founder Steps Down as Onshore Unit Chairman

August 18, 2021

Course correction redux

The pendulum has swung too far. In pursuit of decarbonization, certain regions have set overzealous goals and instituted excessive restrictions – contributing to, among other issues, inflated commodity prices. That was the National Development and Reform Commission’s (NDRC’s) message at its press c…

The pendulum has swung too far.
In pursuit of decarbonization, certain regions have set overzealous goals and instituted excessive restrictions – contributing to, among other issues, inflated commodity prices.
That was the National Development and Reform Commission's (NDRC's) message at its press c...

sources

Yicai: 碳中和“帽子”满天飞，发改委纠正运动式“减碳”

Xinhua: China to rectify "campaign-style" carbon reduction: NDRC

China Economic Net: 国家统计局：国际大宗商品价格高位运行仍会持续

August 18, 2021

Ideology class

Dorm party! On Tuesday, Politburo Standing Committee Member Wang Huning presided over the 27th National Conference on Party Building in Colleges and Universities. Some context: Wang is Xi Jinping’s ideology czar and China’s fifth highest ranking official. Wang had an ask for China’s universities (Xi…

Dorm party! On Tuesday, Politburo Standing Committee Member Wang Huning presided over the 27th National Conference on Party Building in Colleges and Universities.
Some context: Wang is Xi Jinping’s ideology czar and China’s fifth highest ranking official.
Wang had an ask for China’s universities (Xi...

sources

Xinhua: 第二十七次全国高校党的建设工作会议在京召开王沪宁出席会议并讲话

Xinhua: Senior official stresses Party building at higher education institutions

August 18, 2021

CCFEA wants more, better eyes on the financial system

On Tuesday, Xi Jinping chaired a meeting of the Central Commission for Financial and Economic Affairs (CCFEA). Some context: The CCFEA is the Party’s top body for deliberating economic strategies. It typically convenes three times a year, and last met on March 14. One key agenda item: financial…

On Tuesday, Xi Jinping chaired a meeting of the Central Commission for Financial and Economic Affairs (CCFEA).
Some context: The CCFEA is the Party’s top body for deliberating economic strategies. It typically convenes three times a year, and last met on March 14.
One key agenda item: financial...

sources

Xinhua: 习近平主持召开中央财经委员会第十次会议强调在高质量发展中促进共同富裕统筹做好重大金融风险防范化解工作李克强汪洋王沪宁韩正出席

August 17, 2021

ByteDance’s new board director

On Monday, media reports on ByteDance’s new government board director had the interwebs abuzz. ICYMI: Actually, we all did. This development was first reported on by domestic media back in early May, but didn’t generate much interest at the time. So here’s what happened: On April 30, Be…

On Monday, media reports on ByteDance’s new government board director had the interwebs abuzz.
ICYMI: Actually, we all did. This development was first reported on by domestic media back in early May, but didn’t generate much interest at the time.
So here’s what happened:

On April 30, Be...

sources

The Information: Beijing Tightens Grip on ByteDance by Quietly Taking Stake, China Board Seat

Reuters: Beijing takes stake, board seat in ByteDance's key China entity - The Information

Qichacha: 北京字节跳动科技有限公司

Sina: 北京字节跳动科技有限公司注册资本增至2亿增幅1900%

CAC: 全国网信系统十九大精神宣讲团吉林省报告会综述

WeChat: 吴晓灵回应平台金融科技公司数据垄断与协调监管，信息量大！

August 17, 2021

Winter fire, January embers

Short supply is keeping coal prices high. Ok, so what’s new? Well, on Monday, industry media projected that coal shortages will continue until February 2022. That’s in contrast to officials’ hopes that policies to increase domestic production – along with a seasonal respite between summer and winte…

Short supply is keeping coal prices high.
Ok, so what's new?
Well, on Monday, industry media projected that coal shortages will continue until February 2022.

That's in contrast to officials' hopes that policies to increase domestic production – along with a seasonal respite between summer and winte...

sources

International Coal Network: 用煤紧张局面至少将持续到明年二月份

International Coal Network: 青海煤矿透水事故1死19困全国煤炭产量近期影响有限

August 17, 2021

Land sale fail

On August 6, Shenzhen postponed its planned August 9 centralized land sale. Some context: In February, the Ministry of Natural Resources (MNR) told 22 major cities to restrict land sales to three evenly spaced auctions per year. Previously, governments could issue land sales with little advance not…

On August 6, Shenzhen postponed its planned August 9 centralized land sale.
Some context: In February, the Ministry of Natural Resources (MNR) told 22 major cities to restrict land sales to three evenly spaced auctions per year.

Previously, governments could issue land sales with little advance not...

sources

21st Century Biz: 多城集中供地“急刹车” 土拍规则或迎大调整

Sina: 深圳为什么中止二轮集中供地？调控收紧下规则生变

Yicai: Chinese Cities Suspend Centralized Land Sales, Auction Rules Set to Tighten

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