string(13) "markets-macro"

Macro

March 23, 2021

Comrades in (nuclear) arms

There’s nothing like a good Cold War-esque alliance. On Monday, Xi Jinping sent a personal message to North Korean (DPRK) Supreme Leader Kim Jong-un. Xi wants Kim to know he has his back (Xinhua): “The traditional friendship between China and DPRK is a valuable asset shared by…the two countrie… Username Password Remember Me Forgot… Read More »

There’s nothing like a good Cold War-esque alliance.
On Monday, Xi Jinping sent a personal message to North Korean (DPRK) Supreme Leader Kim Jong-un.
Xi wants Kim to know he has his back (Xinhua):

“The traditional friendship between China and DPRK is a valuable asset shared by…the two countrie...

sources

Xinhua: 习近平总书记同朝鲜劳动党总书记金正恩互致口信

CGTN: President Xi says China ready to work with DPRK to maintain peace on Korean Peninsula

WaPo: Xi, Kim share messages reaffirming China-N. Korea alliance

March 23, 2021

CBIRC goes all the way

It’s the most scintillating thing we can possibly imagine… On Friday, the China Banking and Insurance Regulatory Commission (CBIRC) announced that it had fully lifted restrictions on foreign insurers’ stakes in insurance joint ventures – opening the door for full foreign ownership. Some context:&nbs…

It’s the most scintillating thing we can possibly imagine…
On Friday, the China Banking and Insurance Regulatory Commission (CBIRC) announced that it had fully lifted restrictions on foreign insurers’ stakes in insurance joint ventures – opening the door for full foreign ownership.
Some context:&nbs...

sources

CBIRC: 中国银保监会关于修改《中华人民共和国外资保险公司管理条例实施细则》的决定

Global Times: China scraps foreign ownership cap in insurance, adds national security review

Yicai: China Ends Foreign Ownership Limit in Life Insurers

March 23, 2021

Li’s low expectations

What is the deal with the growth target? That’s the Seinfeldian question on the minds of foreign businesses in China. Some context: The government’s GDP growth target for 2021 is “above 6%.” That’s well below the 8-9% growth that most economists expect out of China this year. On Monday,…

What is the deal with the growth target?
That’s the Seinfeldian question on the minds of foreign businesses in China.
Some context: The government’s GDP growth target for 2021 is “above 6%.”

That’s well below the 8-9% growth that most economists expect out of China this year.

On Monday,...

sources

Gov.cn: 李克强谈中国经济的增速与质量

March 22, 2021

A new recipe for modernization

On Monday, People’s Daily published an editorial on the New Development Concept (NDC) by Han Wenxiu, Vice Premier Liu He’s right-hand man on econ policy. Han’s argument: Economic security is an inherent part of the NDC. Some context: The NDC was first fleshed out by Xi Jinping in…

On Monday, People’s Daily published an editorial on the New Development Concept (NDC) by Han Wenxiu, Vice Premier Liu He’s right-hand man on econ policy.
Han’s argument: Economic security is an inherent part of the NDC.
Some context: The NDC was first fleshed out by Xi Jinping in...

sources

People.cn: 完整准确全面理解和贯彻新发展理念（深入学习贯彻习近平新时代中国特色社会主义思想）

March 22, 2021

Grains, rains, and automo-meals

On Friday, Vice Premier Hu Chunhua paid a visit to Jiujiang, in Jiangxi province, to inspect the progress of spring planting. Hu’s message was simple (Xinhua): “Keeping grain production stable should be the top priority.” “[China] aims to keep its grain output above 650 million tonnes this yea…

On Friday, Vice Premier Hu Chunhua paid a visit to Jiujiang, in Jiangxi province, to inspect the progress of spring planting.
Hu’s message was simple (Xinhua):

“Keeping grain production stable should be the top priority.”
“[China] aims to keep its grain output above 650 million tonnes this yea...

sources

Xinhua: Vice premier inspects spring farming in China’s Jiangxi

March 22, 2021

Xi’s Colombian closeup

On Saturday, Xi Jinping spoke via videolink to the Colombian people. Some context: After a third batch of China-made COVID-19 vaccines were delivered to Bogotá, Colombian President Ivan Duque invited Xi to say a few words directly to his people. More context: So far, over 75% of all vaccin…

On Saturday, Xi Jinping spoke via videolink to the Colombian people.
Some context: After a third batch of China-made COVID-19 vaccines were delivered to Bogotá, Colombian President Ivan Duque invited Xi to say a few words directly to his people.
More context: So far, over 75% of all vaccin...

sources

Xinhua: 习近平向哥伦比亚民众发表视频讲话

Xinhua: Xi delivers video speech to Colombian people as Chinese vaccines arrive

Columbia Reports: China embarks on charm offensive in Colombia amid tensions with US

March 22, 2021

Mr. Brightside

As the dust settles from the US-China summit in Anchorage, Chinese state media has begun conducting post-mortems. So how does Beijing characterize the contentious clash of critical comments? Why, as a “good beginning to amplify positive factors” of course! State media has struck a uniformly positi…

As the dust settles from the US-China summit in Anchorage, Chinese state media has begun conducting post-mortems.
So how does Beijing characterize the contentious clash of critical comments?

Why, as a “good beginning to amplify positive factors” of course!

State media has struck a uniformly positi...

sources

Xinhua: China, U.S. hold timely, helpful high-level strategic dialogue

China Daily: High-level talks ‘constructive’

Global Times: Alaska talks a good beginning to amplify positive factors in China-US ties: expert

Global Times: Netizens applaud Chinese delegation’s sharp response to US at Alaska talks

March 22, 2021

Isn’t it ironic? Dontcha think?

On Sunday, the State Council’s COVID-19 Joint Prevention and Control Mechanism held a presser to update on vaccination efforts. The good news: Vaccinations are picking up speed (Gov.cn): China had administered 74.96 million vaccine doses by March 20. That’s an average of 1.66 million doses per…

On Sunday, the State Council’s COVID-19 Joint Prevention and Control Mechanism held a presser to update on vaccination efforts.
The good news: Vaccinations are picking up speed (Gov.cn):

China had administered 74.96 million vaccine doses by March 20.
That’s an average of 1.66 million doses per...

sources

NHC: 国务院联防联控机制2021年3月21日新闻发布会文字实录

CCTV: 中疾控主任高福：希望国内2022年初基本达成群体免疫

March 19, 2021

Liu He is all about economic security

It’s been a while since we’ve heard from one of our favorite policy people, Vice Premier and economic czar Liu He. That changed on Tuesday when Liu flew up to Liaoning province to tout economic revitalization. Some context: Liaoning is part of China’s northeastern rust belt. Once a major indust…

It’s been a while since we’ve heard from one of our favorite policy people, Vice Premier and economic czar Liu He.
That changed on Tuesday when Liu flew up to Liaoning province to tout economic revitalization.
Some context: Liaoning is part of China’s northeastern rust belt. Once a major indust...

sources

Gov.cn: 刘鹤在辽宁调研

March 19, 2021

Prevent that fire

The only thing that should be burning this season is your passion for fire safety and prevention. That was Premier Li Keqiang’s message to attendees of a a national teleconference on forest and grassland fire prevention and control on Thursday. Some context: Following a couple of deadly fo…

The only thing that should be burning this season is your passion for fire safety and prevention.
That was Premier Li Keqiang’s message to attendees of a a national teleconference on forest and grassland fire prevention and control on Thursday.
Some context: Following a couple of deadly fo...

sources

Xinhua: 李克强对森林草原防灭火工作作出重要批示

Xinhua: Chinese premier stresses forest fire prevention and control

March 19, 2021

SMIC announces new Shenzhen plant

On Thursday, Semiconductor Manufacturing International Corporation (SMIC) announced that it had teamed up with the Shenzhen government to build a new chips plant in the city. Some context: SMIC is China’s largest semiconductor manufacturer and is partially state-owned. The company is one of th…

On Thursday, Semiconductor Manufacturing International Corporation (SMIC) announced that it had teamed up with the Shenzhen government to build a new chips plant in the city.
Some context: SMIC is China’s largest semiconductor manufacturer and is partially state-owned.

The company is one of th...

sources

Bloomberg: Top China Chipmaker Gets State Funds for $2.4 Billion Plant

SCMP: SMIC joins Shenzhen government in US$2.35 billion chip foundry as China pushes for self-sufficiency in semiconductors

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