string(13) "markets-macro"

Macro

July 16, 2021

Shaky foundations

Alongside the GDP data, China’s stats bureau also published the monthly econ numbers for June on Thursday. The headlines: Retail sales rose 12.1% y/y in June, down from 12.4% y/y growth in May. Fixed asset investment increased by 4.7% y/y in June, up from 4.2% y/y growth in May. Value-added output … Username Password Remember… Read More »

Alongside the GDP data, China’s stats bureau also published the monthly econ numbers for June on Thursday.
The headlines:

Retail sales rose 12.1% y/y in June, down from 12.4% y/y growth in May.
Fixed asset investment increased by 4.7% y/y in June, up from 4.2% y/y growth in May.
Value-added output ...

sources

NBS: 2021年1—6月份全国固定资产投资（不含农户）增长12.6{d17153e5ae5979b1bf2d993009af64ad90e2f85b4ea9b88ebfedc9c69c58188f}比2019年1—6月份增长9.1{d17153e5ae5979b1bf2d993009af64ad90e2f85b4ea9b88ebfedc9c69c58188f}

NBS: 2021年6月份社会消费品零售总额增长12.1{d17153e5ae5979b1bf2d993009af64ad90e2f85b4ea9b88ebfedc9c69c58188f} 比2019年6月份增长10.0{d17153e5ae5979b1bf2d993009af64ad90e2f85b4ea9b88ebfedc9c69c58188f}

July 16, 2021

July Data Dump – Q2 GDP

China’s stats bureau released the Q2 GDP results on Thursday. The economy expanded 7.9% y/y in real terms last quarter – down from 18.3% y/y growth in Q1. Slower sequential growth is no surprise given the less favorable base effect in Q2. Given the pandemic-related distortions to the data, it is b…

China’s stats bureau released the Q2 GDP results on Thursday.
The economy expanded 7.9% y/y in real terms last quarter – down from 18.3% y/y growth in Q1.

Slower sequential growth is no surprise given the less favorable base effect in Q2.

Given the pandemic-related distortions to the data, it is b...

sources

NBS: 上半年国民经济稳中加固稳中向好

July 15, 2021

Data dump – digital economy stats

Yesterday, the Internet Society of China (ISC) released the latest edition of the China Internet Development Report. Some context: The ISC is a quasi-governmental internet industry advocacy body, with over 1000 member companies, research institutes, and universities. Their annual report covers the …

Yesterday, the Internet Society of China (ISC) released the latest edition of the China Internet Development Report.
Some context: The ISC is a quasi-governmental internet industry advocacy body, with over 1000 member companies, research institutes, and universities.

Their annual report covers the ...

sources

Sina: 中国互联网2021发展报告：中国网民规模达9.89亿人

Sina: 《中国互联网发展报告2021》发布：互联网引领数字经济新发展

July 15, 2021

Knock, knock. It’s the United States.

On Wednesday, the State Council issued a white paper examining the state of human rights in Xinjiang. Here’s a shocker: The paper, subtly entitled “Respecting and Protecting the Rights of All Ethnic Groups in Xinjiang”, found that things in the far west region were hunky dory (Xinhua): “The ethnic …

On Wednesday, the State Council issued a white paper examining the state of human rights in Xinjiang.
Here's a shocker: The paper, subtly entitled “Respecting and Protecting the Rights of All Ethnic Groups in Xinjiang”, found that things in the far west region were hunky dory (Xinhua):

"The ethnic ...

sources

Xinhua: China Focus: China issues white paper on protecting rights of Xinjiang's ethnic groups

SCMP: US ban on all products from China’s Xinjiang nears as Senate passes forced labour bill

Reuters: U.S. ramps up warnings of business risks in China's Xinjiang region

July 15, 2021

MIIT announces plan to optimize data center layout

On Wednesday, the Ministry of Industry and Information Technology (MIIT) issued a three-year plan for building a massive network of data centers across the country. The constraint: There is a mismatch in supply and demand between localities. Metropolitan areas have high demand for low-latency …

On Wednesday, the Ministry of Industry and Information Technology (MIIT) issued a three-year plan for building a massive network of data centers across the country.
The constraint: There is a mismatch in supply and demand between localities.

Metropolitan areas have high demand for low-latency ...

sources

MIIT: 工业和信息化部关于印发《新型数据中心发展三年行动计划（2021-2023年）》的通知

July 15, 2021

CPPCC prepares for mid-year economic review

The Politburo’s mid-year economic review is fast approaching. The latest indication: On Wednesday, Wang Yang, Politburo Standing Committee member and head of the political advisory body (CPPCC), held a symposium to discuss the economy. In attendance: The heads of four of China’s other officially re…

The Politburo’s mid-year economic review is fast approaching.
The latest indication: On Wednesday, Wang Yang, Politburo Standing Committee member and head of the political advisory body (CPPCC), held a symposium to discuss the economy.
In attendance:

The heads of four of China’s other officially re...

sources

21st Century Biz: 汪洋出席“构建新发展格局”调研协商座谈会

July 15, 2021

You sure this is right?

Let’s get into the nitty-gritty of China’s carbon market launch, delayed from June. On Wednesday, Zhao Yingmin, Vice Minister of the Ministry of Ecology and Environment (MEE), discussed the importance of data authenticity and accuracy in the national emissions trading scheme (ETS). Zhao called accu…

Let’s get into the nitty-gritty of China’s carbon market launch, delayed from June.
On Wednesday, Zhao Yingmin, Vice Minister of the Ministry of Ecology and Environment (MEE), discussed the importance of data authenticity and accuracy in the national emissions trading scheme (ETS).

Zhao called accu...

sources

Gov.cn: 启动全国碳排放权交易市场上线交易情况国务院政策例行吹风会

July 15, 2021

Li Keqiang wants more stuff to go to the countryside more quickly

There was plenty more on Premier Li Keqiang’s mind at Wednesday’s executive meeting of the State Council. Notably: Delivery logistics in rural areas. Li wants better logistics to improve an age-old, two-way street: Rural areas send agricultural goods to urban areas. Urban areas send consumer goods …

There was plenty more on Premier Li Keqiang's mind at Wednesday's executive meeting of the State Council.
Notably: Delivery logistics in rural areas.
Li wants better logistics to improve an age-old, two-way street:

Rural areas send agricultural goods to urban areas.
Urban areas send consumer goods ...

sources

Gov.cn: 李克强主持召开国务院常务会议部署中央预算执行和其他财政收支审计查出问题整改工作等

Xinhua: China to improve rural delivery logistics to unleash consumption potential of rural areas

July 15, 2021

Review the audit

On Wednesday, Premier Li Keqiang did what he happily does every Wednesday: Preside over the weekly executive meeting of the State Council. This week’s sexy agenda item: Rectifying issues discovered in the central budget implementation audit. Some context: The recently concluded audit looked into bud…

On Wednesday, Premier Li Keqiang did what he happily does every Wednesday: Preside over the weekly executive meeting of the State Council.
This week’s sexy agenda item: Rectifying issues discovered in the central budget implementation audit.
Some context: The recently concluded audit looked into bud...

sources

Gov.cn: 李克强主持召开国务院常务会议部署中央预算执行和其他财政收支审计查出问题整改工作等

July 15, 2021

Anhui shuts down crypto mining

On Wednesday, Anhui became the latest province to shut down crypto mining. The deets (Bloomberg): “Anhui plans to shut down all crypto mining projects within the next three years due to a power supply shortage.” Some context: Regulators kicked-off a crackdown on bitcoin mining in May and hav…

On Wednesday, Anhui became the latest province to shut down crypto mining.
The deets (Bloomberg):

“Anhui plans to shut down all crypto mining projects within the next three years due to a power supply shortage.”

Some context: Regulators kicked-off a crackdown on bitcoin mining in May and hav...

sources

Bloomberg: China Deals Another Blow to Its Crypto Miners

July 15, 2021

Picking up some (more) pork

On Wednesday, the Ministry of Commerce announced a second round of purchasing for the national pork reserves was getting underway. Some context: Pork prices fell some 65% between January and June as China’s swine herd finally recovered to normal levels in the wake of African swine fever (ASF). …

On Wednesday, the Ministry of Commerce announced a second round of purchasing for the national pork reserves was getting underway.
Some context: Pork prices fell some 65% between January and June as China’s swine herd finally recovered to normal levels in the wake of African swine fever (ASF). ...

sources

MofCom: 商务部会同有关部门开展本年度第二批中央储备猪肉收储

NBS: 上半年国民经济稳中加固稳中向好

CMRMC: 关于2021年第二次中央储备冻猪肉收储竞价交易有关事项的通知

July 15, 2021

Didi’s rivals relaunch cash burning campaign

Didi’s ride-hailing dominance is under siege. In the past week, multiple ride-hailing platforms took the opportunity to aggressively snatch users, drivers, and market share from the stricken behemoth. ICYMI: Didi has been hurting these past two weeks after regulators’ punished the company fo…

Didi's ride-hailing dominance is under siege.

In the past week, multiple ride-hailing platforms took the opportunity to aggressively snatch users, drivers, and market share from the stricken behemoth.

ICYMI: Didi has been hurting these past two weeks after regulators' punished the company fo...

sources

Jiemian: 网约车大战，又来了

LatePost: 滴滴下架：久违的打车大战又回来了

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