string(13) "markets-macro"

Macro

October 18, 2024

Authorities double down on property support policies

On Thursday, regulators rolled out a raft of measures to support property developers. The big takeaway: Housing minister (MoHURD) Ni Hong said authorities will accelerate the completion of unfinished housing developments. Ni said funding for developments whitelisted by authorities would i… Username Password Remember Me Forgot Password

Ni said funding for developments whitelisted by authorities would i...

sources

SCIO: 国新办举行新闻发布会介绍促进房地产市场平稳健康发展有关情况

October 18, 2024

Signs of stabilization in September data

China’s September economic activity was muted, but it beat expectations. Per data released by the stats bureau (NBS) on Friday: Industrial value-added (IVA) grew by 5.4% y/y, up from 4.5% growth in August Fixed asset investment (FAI) grew 3.4% y/y, up from 2.0% the previous month Retail sales of go…

China's September economic activity was muted, but it beat expectations.
Per data released by the stats bureau (NBS) on Friday:

Industrial value-added (IVA) grew by 5.4% y/y, up from 4.5% growth in August
Fixed asset investment (FAI) grew 3.4% y/y, up from 2.0% the previous month
Retail sales of go...

October 18, 2024

Q3 GDP data shows sluggish growth, but early signs of stabilization

Unsurprisingly, China’s economy saw sluggish growth in Q3 2024. Per data released by the stats bureau (NBS) on Friday: Real GDP grew by 4.6% y/y in Q3, down from 4.7% the previous quarter. On a quarter-on-quarter basis, real GDP grew 0.9%, up from 0.5% in Q2, but still way below historical trends –…

Unsurprisingly, China’s economy saw sluggish growth in Q3 2024.
Per data released by the stats bureau (NBS) on Friday:

Real GDP grew by 4.6% y/y in Q3, down from 4.7% the previous quarter.
On a quarter-on-quarter basis, real GDP grew 0.9%, up from 0.5% in Q2, but still way below historical trends –...

October 18, 2024

Vice Premier Ding Xuexiang advocates for tech innovation to revive economy

Beijing wants tech to turn the economy around. From Monday to Thursday, Vice Premier Ding Xuexiang visited universities, companies, and industrial parks in Henan and Jiangsu provinces. Ding emphasized the need to: Encourage the tech industry to participate in major strategic projects Promote indust…

Beijing wants tech to turn the economy around.
From Monday to Thursday, Vice Premier Ding Xuexiang visited universities, companies, and industrial parks in Henan and Jiangsu provinces.
Ding emphasized the need to:

Encourage the tech industry to participate in major strategic projects
Promote indust...

sources

People.cn: 丁薛祥在河南和江苏调研时强调加力提效实施存量政策和一揽子增量政策努力完成全年经济社会发展目标任务

October 18, 2024

MSS blog post triggers denials from autonomous driving industry

The bloggers at China’s spy agency are at it again. On Wednesday, the Ministry of State Security (MSS) published a post on WeChat describing how a foreign company and its Chinese partner had illegally collected and exported sensitive mapping data under the pretense of autonomous driving research. T…

The bloggers at China's spy agency are at it again.
On Wednesday, the Ministry of State Security (MSS) published a post on WeChat describing how a foreign company and its Chinese partner had illegally collected and exported sensitive mapping data under the pretense of autonomous driving research.

T...

sources

MSS WeChat: 隐秘的测绘秘密的泄露

SCMP: China accuses foreign company of illegal mapping, prompting denials from some EV firms

The Paper: 浙江省自然资源厅：阿里云系业务调整主动申请注销测绘资质，与国安部通报的公司无关

21st Century Biz: 测绘资质企业涉非法测绘案？行业人士：相关企业此前或已被取消相关资质

October 18, 2024

Chinese officials meet with Russian counterparts

Chinese bigwigs are reassuring their Russian counterparts about the strength of bilateral ties. On Wednesday, Premier Li Qiang met with Russian Prime Minister Mikhail Mishustin on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Islamabad. Li told Mishustin that (People.cn): “…

Chinese bigwigs are reassuring their Russian counterparts about the strength of bilateral ties.
On Wednesday, Premier Li Qiang met with Russian Prime Minister Mikhail Mishustin on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Islamabad.
Li told Mishustin that (People.cn):

“...

sources

CPC People: 李强会见俄罗斯总理米舒斯京

Ministry of National Defense: CMC Vice-Chairman Zhang Youxia meets Russian Defense Minister

October 18, 2024

Flash talk | Stimulus disappointment

It’s been a busy couple of weeks for China’s regulators. In quick succession there have been press conferences hosted by the economic planner (NDRC), Ministry of Finance (MoF), and housing ministry (MoHURD). Yet none of them have delivered what everyone’s waiting for: stimulus. Of course, as is al…

It's been a busy couple of weeks for China's regulators. In quick succession there have been press conferences hosted by the economic planner (NDRC), Ministry of Finance (MoF), and housing ministry (MoHURD).

Yet none of them have delivered what everyone's waiting for: stimulus.

Of course, as is al...

October 18, 2024

A new and improved sci-tech agreement?

Is there a future for US-China sci-tech collaboration? On Thursday, SCMP reported that the US and China are working on renewing the US-China Science and Technology Agreement (STA) before Biden steps down. That’s according to anonymous sources inside the Biden administration. Some context: …

That's according to anonymous sources inside the Biden administration.

Some context: ...

sources

SCMP: Renewal of US-China science pact said to be close, but may hold until after Election Day

October 18, 2024

US faces resistance from allies on chip controls

The US is struggling to get allies on board with further chip restrictions. Some context: Washington is gearing up to update its export controls on China’s chip industry. However, such a move will require other chip-making powers, namely Japan and the Netherlands, to align with further restr…

The US is struggling to get allies on board with further chip restrictions.
Some context: Washington is gearing up to update its export controls on China’s chip industry.

However, such a move will require other chip-making powers, namely Japan and the Netherlands, to align with further restr...

sources

Bloomberg: Huawei Suppliers Face Effort by US Lawmakers to Block Chip Gear

October 18, 2024

Intelligence agency issues warning on illegal exports of mapping data

This could be a mild headache for autonomous vehicle (AV) companies. On Wednesday, China’s intelligence agency (MSS) published a blog post raising alarms about potential leaks of mapping data. Some context: China considers mapping data – often used for AV training – to be highly sensitive. Au…

This could be a mild headache for autonomous vehicle (AV) companies.
On Wednesday, China's intelligence agency (MSS) published a blog post raising alarms about potential leaks of mapping data.
Some context: China considers mapping data – often used for AV training – to be highly sensitive. Au...

sources

MSS WeChat: 隐秘的测绘秘密的泄露

Nanfang Daily: 国安披露测绘泄密案，此前资质审批已收紧，仅19家单位过审

Nanfang Daily: 特斯拉、极氪、四维图新深夜回应

October 17, 2024

Taxman goes after overseas financial assets

China is reportedly demanding that the ultra-rich pay tax on income derived from overseas investments. Some context: Chinese nationals have long been required to pay taxes on their overseas financial assets, but officials have rarely enforced the requirement – until now. On Tuesday, Bloomberg report…

China is reportedly demanding that the ultra-rich pay tax on income derived from overseas investments.
Some context: Chinese nationals have long been required to pay taxes on their overseas financial assets, but officials have rarely enforced the requirement – until now.
On Tuesday, Bloomberg report...

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Bloomberg: China Moves to Tax the Ultra-Rich for Overseas Investment Gains

Bain & Company: 2023中国私人财富报告

October 17, 2024

MoHURD’s turn in the hot seat

Chinese authorities continue to underwhelm in their attempts to shore up both household confidence and the economy. On Thursday, it was the housing ministry’s (MoHURD) turn at the mic – with minister Ni Hong and others attending a presser to discuss the state of the property market and new governmen…

Chinese authorities continue to underwhelm in their attempts to shore up both household confidence and the economy.
On Thursday, it was the housing ministry’s (MoHURD) turn at the mic – with minister Ni Hong and others attending a presser to discuss the state of the property market and new governmen...

sources

21st Century Biz: 事关房地产！住建部、央行等多部门出席发布会，一文速览要点

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