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Macro

July 12, 2021

The other type of US listing

On Friday, 23 Chinese companies got listed in the US. Unfortunately for them, it was on the Commerce Department’s Entity List. This unlucky bunch got blacklisted for the usual set of reasons: 14 for supposed ties to human rights abuses in Xinjiang Five for supporting China’s military modernizatio… Username Password Remember Me Forgot… Read More »

On Friday, 23 Chinese companies got listed in the US.

Unfortunately for them, it was on the Commerce Department’s Entity List.

This unlucky bunch got blacklisted for the usual set of reasons:

14 for supposed ties to human rights abuses in Xinjiang
Five for supporting China’s military modernizatio...

sources

US Commerce Department: Commerce Department Adds 34 Entities to the Entity List to Target Enablers of China’s Human Rights Abuses and Military Modernization, and Unauthorized Iranian and Russian Procurement

MoFA: Foreign Ministry Spokesperson Wang Wenbin's Regular Press Conference on July 9, 2021

July 12, 2021

Oh, for the good old days

On Friday, Vice President Wang Qishan presided over an event commemorating the 50th anniversary of then-National Security Adviser Henry Kissinger’s secret trip to China. 98-year-old Kissinger attended via videolink. History lesson: Kissinger’s 1971 trip to Beijing paved the way for US President Ri…

On Friday, Vice President Wang Qishan presided over an event commemorating the 50th anniversary of then-National Security Adviser Henry Kissinger’s secret trip to China.

98-year-old Kissinger attended via videolink.

History lesson: Kissinger’s 1971 trip to Beijing paved the way for US President Ri...

sources

MoFA: Wang Qishan Attends an Event to Commemorate the 50th Anniversary of Kissinger's Secret Trip to China

Nikkei: Kissinger's spell on China policy fades 50 years after visit

July 12, 2021

Remaking grassroots governance

The weekend ended on a high note as the Party’s Central Committee and the State Council dropped new opinions Sunday on improving grassroots governance. The regs couldn’t underscore highly enough the importance of grassroots governance (Xinhua): “Grassroots governance is the cornerstone of national …

The weekend ended on a high note as the Party’s Central Committee and the State Council dropped new opinions Sunday on improving grassroots governance.
The regs couldn’t underscore highly enough the importance of grassroots governance (Xinhua):

“Grassroots governance is the cornerstone of national ...

sources

Xinhua: （受权发布）中共中央国务院关于加强基层治理体系和治理能力现代化建设的意见

Gov.cn: China releases plan on modernizing primary-level governance

July 12, 2021

Seeds of change

At Friday’s Central Committee for Comprehensively Deepening Reform (CCCDR) meeting, top Party leaders approved a Seed Industry Revitalization Action Plan. Some context: The CCCDR, chaired by Xi Jinping, is the Party’s most important policymaking body. Xi wants China’s seed industry to be more self-s…

At Friday’s Central Committee for Comprehensively Deepening Reform (CCCDR) meeting, top Party leaders approved a Seed Industry Revitalization Action Plan.
Some context: The CCCDR, chaired by Xi Jinping, is the Party’s most important policymaking body.
Xi wants China’s seed industry to be more self-s...

sources

Xinhua: 习近平主持召开中央全面深化改革委员会第二十次会议

Yicai: 中国启动种业振兴行动：转基因或迎风口防范种源被“卡脖子”

July 12, 2021

Foreseeable and unforeseeable storms

On Friday, Xi Jinping chaired a meeting of the Central Committee for Comprehensively Deepening Reform (CCCDR). Some context: The CCCDR was established amid the broad institutional reforms that took place in March 2018. It’s the Party’s most important policymaking body. Xi instructed th…

On Friday, Xi Jinping chaired a meeting of the Central Committee for Comprehensively Deepening Reform (CCCDR).
Some context: The CCCDR was established amid the broad institutional reforms that took place in March 2018.

It’s the Party’s most important policymaking body.

Xi instructed th...

sources

Xinhua: 习近平主持召开中央全面深化改革委员会第二十次会议

July 12, 2021

CAC mandates cybersecurity review for most overseas IPOs

On Saturday, the Cyberspace Administration of China (CAC) revised its rules for cybersecurity review. The headline: Regulators can now block a company from listing abroad if it doesn’t pass a cybersecurity review. That was quick – just last week, the Party called to patch up this regulat…

On Saturday, the Cyberspace Administration of China (CAC) revised its rules for cybersecurity review.
The headline: Regulators can now block a company from listing abroad if it doesn’t pass a cybersecurity review.
That was quick – just last week, the Party called to patch up this regulat...

sources

CAC: 国家互联网信息办公室关于《网络安全审查办法（修订草案征求意见稿）》公开征求意见的通知

Caixin: 中概股海外上市收紧 100万用户公司需网络安全审批

Caixin: 喜马拉雅、哈啰出行暂缓境外上市计划

July 12, 2021

Anbang on the block – again

The Anbang saga might finally be limping toward a conclusion. On Saturday, Caixin reported that six consortia are bidding to acquire a stake in Daijia Insurance Group – the company formed to take over the rump of Anbang’s assets. We’re not sure large a stake is up for grabs, but it appears that the…

The Anbang saga might finally be limping toward a conclusion.
On Saturday, Caixin reported that six consortia are bidding to acquire a stake in Daijia Insurance Group – the company formed to take over the rump of Anbang’s assets.

We're not sure large a stake is up for grabs, but it appears that the...

sources

Caixin: Exclusive: China Resumes Hunt for Investors to Take Control of Anbang’s Remains

July 12, 2021

Surprise! RRR cuts for everyone!

On Friday, the People’s Bank of China (PBoC) surprised everyone by cutting the reserve requirement ratio (RRR) by 0.5 percentage points for all banks, freeing up about RMB 1 trillion in funds. The cut itself wasn’t a surprise: The State Council flagged it the previous day. The surprise was that th…

The State Council flagged it the previous day.

The surprise was that th...

sources

PBoC: 中国人民银行决定于2021年7月15日下调金融机构存款准备金率

PBoC: 中国人民银行有关负责人就下调金融机构存款准备金率答记者问

July 12, 2021

July 2021 data dump – credit

China’s central bank published June’s credit data late on Friday. The headlines: Net new total social financing (TSF) hit RMB 3.67 trillion last month, higher than the forecasted RMB 3.5 trillion. Net new bank loans were RMB 2.12 trillion in June, versus the consensus forecast of RMB 1.85 trillion….

China’s central bank published June’s credit data late on Friday.
The headlines:

Net new total social financing (TSF) hit RMB 3.67 trillion last month, higher than the forecasted RMB 3.5 trillion.
Net new bank loans were RMB 2.12 trillion in June, versus the consensus forecast of RMB 1.85 trillion....

sources

PBoC: 2021年6月社会融资规模存量统计数据报告

Bloomberg: China’s Credit Growth Rebounds as Economic Momentum Moderates

July 12, 2021

Central bank to centralize credit data

On Friday, Caijing reported that the central bank (PBoC) has ordered Internet platforms to re-route all credit data through credit reporting agencies. Why it matters: This arrangement will help centralize credit data. Some context: Traditional banks are struggling to lend to individ…

On Friday, Caijing reported that the central bank (PBoC) has ordered Internet platforms to re-route all credit data through credit reporting agencies.
Why it matters: This arrangement will help centralize credit data.
Some context: Traditional banks are struggling to lend to individ...

sources

Caijing: 整改不留余地，央行要求网络平台个人信息与金融机构“断直连”

Weibo: 解读个人信息全面“断直连”，多方博弈进行时

July 12, 2021

Yunnan COVID-19 outbreak continues

China saw an uptick of domestically transmitted COVID-19 cases over the past week. As of Sunday, authorities had reported: 56 new domestically transmitted confirmed cases, up from three in the previous 7-day period Eight new domestically transmitted asymptomatic cases, up from zero in the previous …

China saw an uptick of domestically transmitted COVID-19 cases over the past week.
As of Sunday, authorities had reported:

56 new domestically transmitted confirmed cases, up from three in the previous 7-day period
Eight new domestically transmitted asymptomatic cases, up from zero in the previous ...

sources

NHC: 截至7月11日24时新型冠状病毒肺炎疫情最新情况

The Paper: 联防联控机制赴云南工作组在瑞丽调研：全面提升核酸检测能力

The Paper: 云南省长、国家指导组已赶赴瑞丽部署督导疫情处置工作

The Paper: 瑞丽再发现新增本土后，德宏州纪委当晚赶赴现场并成立检查组

July 12, 2021

The Appening

On Friday, the Cyberspace Administration of China (CAC) ordered 25 mobile apps operated by ride hailing giant Didi to be removed from app stores. ICYMI: Didi is under the regulatory gun. On July 2, days after Didi’s US IPO, CAC announced a cybersecurity investigation into the company. O…

On Friday, the Cyberspace Administration of China (CAC) ordered 25 mobile apps operated by ride hailing giant Didi to be removed from app stores.
ICYMI: Didi is under the regulatory gun.

On July 2, days after Didi’s US IPO, CAC announced a cybersecurity investigation into the company.
O...

sources

CAC: 关于下架“滴滴企业版”等25款App的通报

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