string(13) "markets-macro"

Macro

March 29, 2021

To serve the people

On Friday, Premier Li Keqiang chaired a virtual symposium attended by provincial governors and other local officials. His message: Let’s engineer a recovery that works for everyone. Li pointed out some areas of concern (Gov.cn 2): “[China’s economy] is…affected in many aspects, especially… Username Password Remember Me Forgot Password

“[China’s economy] is…affected in many aspects, especially...

sources

Gov.cn: 李克强主持召开经济形部分地方政府主要负责人视频座谈会

Gov.cn: Premier urges maintaining economic recovery, energizing market entities

March 29, 2021

Xi tells PAP to get ready

Over the weekend, we got more details on Xi’s recent trip to Fujian. The big news: On Wednesday, Xi headed over to the headquarters of the People’s Armed Police (PAP) 2nd Mobile Contingent in Fuzhou. Some context: The PAP is a paramilitary force focused on maintaining domestic stability, i…

Over the weekend, we got more details on Xi’s recent trip to Fujian.
The big news: On Wednesday, Xi headed over to the headquarters of the People’s Armed Police (PAP) 2nd Mobile Contingent in Fuzhou.
Some context: The PAP is a paramilitary force focused on maintaining domestic stability, i...

sources

CPC People: 全面加强练兵备战锻造能打仗打胜仗精兵劲旅

Xinhua: Xi Focus: Xi inspects armed police corps in Fujian

March 26, 2021

Regulators crack down on platforms, again

The regulatory crackdown on big tech just took on a new dimension. On Thursday, the National Reform and Development Commission, along with 27 other government departments, released a plan to clean up abusive labor practices and exorbitant fees in the platform economy. The primary target: …

The regulatory crackdown on big tech just took on a new dimension.
On Thursday, the National Reform and Development Commission, along with 27 other government departments, released a plan to clean up abusive labor practices and exorbitant fees in the platform economy.
The primary target: ...

sources

21st Century Biz: 发改委等28部门发文：要求降低平台交易成本、整治平台垄断

Gov.cn: 国家发展改革委等二十八部门联合印发《加快培育新型消费实施方案》

March 26, 2021

State Council puts the government to work

On Thursday, the State Council assigned government agencies their to-do lists for the coming year. The government specified responsibility for completing 44 tasks from the 2021 Government Work Rerport. Some context: The State Council assigns the tasks outlined in the Government Work Report ev…

On Thursday, the State Council assigned government agencies their to-do lists for the coming year.

The government specified responsibility for completing 44 tasks from the 2021 Government Work Rerport.

Some context: The State Council assigns the tasks outlined in the Government Work Report ev...

sources

Gov.cn: 关于落实《政府工作报告》重点工作分工的意见

Gov.cn: 国务院印发《关于落实〈政府工作报告〉重点工作分工的意见》

March 26, 2021

Premier Li promises money for RD

On Thursday, Premier Li Keqiang popped over to Jiangsu to inspect a few of the province’s enterprises. Li’s mission: Making sure companies are aware of new tax deductions for research and development (RD). Some context: Li announced the tax deductions at a meeting of the State Council earl…

On Thursday, Premier Li Keqiang popped over to Jiangsu to inspect a few of the province’s enterprises.
Li’s mission: Making sure companies are aware of new tax deductions for research and development (RD).
Some context: Li announced the tax deductions at a meeting of the State Council earl...

sources

Gov.cn: 什么政策？李克强昨天开国常会部署，今天就来江苏企业“站谈”

March 26, 2021

Xi offers pragmatic comment on Taiwan

On Thursday, Xi wrapped up his four day trip to Fujian. Xi met up with the local leadership to listen to reports and dole out some words of wisdom. Xi reiterated some of his macro policy priorities, calling for: Promoting high quality development Implementing the new development concept Increasing …

Promoting high quality development
Implementing the new development concept
Increasing ...

sources

Xinhua: 习近平在福建考察时强调在服务和融入新发展格局上展现更大作为奋力谱写全面建设社会主义现代化国家福建篇章

March 26, 2021

Shenzhen pilots new growth metrics

On Tuesday, the Shenzhen municipal government announced that it had developed a new Gross Ecosystem Product (GEP) system to measure economic development. Why it’s a big deal: In Shenzhen, GEP will now be used alongside GDP as a core measure of government performance. Some context: This is …

On Tuesday, the Shenzhen municipal government announced that it had developed a new Gross Ecosystem Product (GEP) system to measure economic development.
Why it’s a big deal: In Shenzhen, GEP will now be used alongside GDP as a core measure of government performance.
Some context: This is ...

sources

Shenzhen Gov.cn: 深圳市政府新闻办新闻发布会（深圳市GEP核算“1+3”制度体系）

March 25, 2021

What does HM stand for?

On Wednesday, the Communist Youth League called out Swedish clothing retailer HM for a statement it issued on Xinjiang’s cotton industry in a Weibo post. Things then moved fast. By late Wednesday: Two of HM’s Chinese brand ambassadors dropped their affiliation in protest. HM shops and pr…

On Wednesday, the Communist Youth League called out Swedish clothing retailer HM for a statement it issued on Xinjiang’s cotton industry in a Weibo post.
Things then moved fast. By late Wednesday:

Two of HM’s Chinese brand ambassadors dropped their affiliation in protest.
HM shops and pr...

sources

WSJ: HM Battered With Criticism in China Over Xinjiang Forced-Labor Stance

Global Times: Chinese consumers won’t pay for multinational companies’ political correctness that caters to West

March 25, 2021

Top policy advisor recommends pivot to Europe

On Wednesday, The Paper published an interview with Yuan Peng, the president of the China Institute of Contemporary International Relations (CICIR), on Sino-US relations. Why we care: CICIR is affiliated with China’s top spy agency, the Ministry of State Security, and has a direct lin…

On Wednesday, The Paper published an interview with Yuan Peng, the president of the China Institute of Contemporary International Relations (CICIR), on Sino-US relations.
Why we care: CICIR is affiliated with China’s top spy agency, the Ministry of State Security, and has a direct lin...

sources

The Paper: 大外交｜袁鹏：中美共通点与分歧点在高层对话期间都已袒露

March 25, 2021

Policymakers mull tax for big tech

On Tuesday, Executive Vice Premier Han Zheng, chaired a symposium on fiscal and taxation work at the Chinese Academy of Fiscal Sciences (CAFS). The heads of the Ministry of Finance (MoF) and the State Administration of Taxation (SAT) were also there. Some context: CAFS is MoF’s in-house think…

On Tuesday, Executive Vice Premier Han Zheng, chaired a symposium on fiscal and taxation work at the Chinese Academy of Fiscal Sciences (CAFS).

The heads of the Ministry of Finance (MoF) and the State Administration of Taxation (SAT) were also there.

Some context: CAFS is MoF’s in-house think...

sources

Gov.cn: 韩正在中国财政科学研究院召开财税工作座谈会

Gov.cn: 中共中央办公厅国务院办公厅印发《关于进一步深化税收征管改革的意见》

March 25, 2021

It just got cheaper to nerd out

On Wednesday, the State Council announced more tax benefits for companies conducting research and development (RD) in China. Specifically, companies will get a bigger tax deduction (Xinhua): “[T]he ratio of extra tax deduction on enterprises’ RD costs will be raised from 75 percent to 100 perc…

On Wednesday, the State Council announced more tax benefits for companies conducting research and development (RD) in China.
Specifically, companies will get a bigger tax deduction (Xinhua):

“[T]he ratio of extra tax deduction on enterprises’ RD costs will be raised from 75 percent to 100 perc...

sources

Gov.cn: 李克强主持召开国务院常务会议部署实施提高制造业企业研发费用加计扣除比例等政策

Xinhua: China to spur business innovation with more tax incentive

March 25, 2021

Another extension for pandemic relief

On Wednesday, the State Council decided to extend two lending programs introduced by the People’s Bank of China (PBoC) last year to help small firms endure the pandemic. Both programs, which were meant to expire this month, will now be extended until the end of 2021. The move means the PBoC will c…

On Wednesday, the State Council decided to extend two lending programs introduced by the People’s Bank of China (PBoC) last year to help small firms endure the pandemic.

Both programs, which were meant to expire this month, will now be extended until the end of 2021.

The move means the PBoC will c...

sources

Gov.cn: 李克强主持召开国务院常务会议部署实施提高制造业企业研发费用加计扣除比例等政策

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