string(13) "markets-macro"

Macro

March 11, 2021

Making manufacturing great again

The 14th Five-Year Plan (FYP) also laid out some ambitious goals for the manufacturing sector. The plan calls for ensuring that manufacturing’s proportion of GDP remains stable That may not sound like much, but remember that manufacturing’s value-add to GDP has been falling fast – from 31.6% in 201… Username Password Remember Me … Read More »

The 14th Five-Year Plan (FYP) also laid out some ambitious goals for the manufacturing sector.
The plan calls for ensuring that manufacturing’s proportion of GDP remains stable

That may not sound like much, but remember that manufacturing’s value-add to GDP has been falling fast – from 31.6% in 201...

sources

Xinhua: 苗圩：推动制造业高质量发展

SCMP: ‘Two sessions’ 2021: China is ‘30 years off being a top-tier industrial powerhouse’

WorldBank: 世界银行数据制造业增加值（占GDP的百分比） – China

March 11, 2021

That’s some high quality H2O

Aside from tackling carbon emissions, the 14th Five-Year Plan (FYP) laid out some other pretty nifty environmental goals. The plan is gunning for: 87.5% of days to be good or excellent air quality in cities at the prefecture level and above 85% of surface water nationwide to be Grade III or better …

Aside from tackling carbon emissions, the 14th Five-Year Plan (FYP) laid out some other pretty nifty environmental goals.
The plan is gunning for:

87.5% of days to be good or excellent air quality in cities at the prefecture level and above
85% of surface water nationwide to be Grade III or better ...

March 11, 2021

RCEP gets ratified

The last week has been a roller coaster of “blink and you’ll miss it” Two Sessions excitement. Apparently, we blinked. China’s National People’s Congress officially ratified the landmark Regional Comprehensive Economic Partnership (RCEP) at some point last weekend. Commerce Minister Wang We…

The last week has been a roller coaster of “blink and you’ll miss it” Two Sessions excitement.

Apparently, we blinked.

China’s National People’s Congress officially ratified the landmark Regional Comprehensive Economic Partnership (RCEP) at some point last weekend.

Commerce Minister Wang We...

sources

SCMP: China ratifies RCEP trade deal three months ahead of schedule, urges other members to follow suit

March 11, 2021

The future of Hong Kong

Were you too busy reading up on the torpedoing of Hong Kong’s electoral system to look at what the 14th Five-Year Plan (FYP) said about the city’s future? No worries, we’ve got ya. The gist of it: Beijing wants to preserve Hong Kong’s attractiveness as an international finance and business cent…

Were you too busy reading up on the torpedoing of Hong Kong’s electoral system to look at what the 14th Five-Year Plan (FYP) said about the city’s future?
No worries, we’ve got ya.
The gist of it: Beijing wants to preserve Hong Kong’s attractiveness as an international finance and business cent...

sources

Gov.cn: 中华人民共和国国民经济和社会发展第十三个五年规划纲要

March 11, 2021

Premier Li defends low growth

Okay everybody. Time to take a deep breath and get a drink. The Two Sessions is officially over. The Chinese People’s Political Consultative Conference (CPPCC) concluded its annual session yesterday. The National People’s Congress (NPC) concluded its annual session today. At the conclusion of the …

Okay everybody.
Time to take a deep breath and get a drink.
The Two Sessions is officially over.

The Chinese People’s Political Consultative Conference (CPPCC) concluded its annual session yesterday.
The National People’s Congress (NPC) concluded its annual session today.

At the conclusion of the ...

sources

China News Agency: 国务院总理李克强会见中外记者

March 10, 2021

An Alaskan thaw?

On Tuesday, the White House confirmed that US and Chinese officials were in talks to organize a meeting between top officials. Some context: This will be the first high-level meeting between US and Chinese officials since the start of the Biden administration. The unlikely likely location:&nbsp…

On Tuesday, the White House confirmed that US and Chinese officials were in talks to organize a meeting between top officials.
Some context: This will be the first high-level meeting between US and Chinese officials since the start of the Biden administration.
The unlikely likely location: ...

sources

SCMP: Exclusive | Washington confirms direct engagement between US and Chinese diplomats

March 10, 2021

Risks rising for foreign business in China

With geopolitical tensions on the rise, its an increasingly trick time for foreign companies in China. On the one hand, there are some promising developments. The 14th Five-Year Plan (FYP) reiterated government promises to open the telecommunications, internet, education, culture, and healthc…

With geopolitical tensions on the rise, its an increasingly trick time for foreign companies in China.
On the one hand, there are some promising developments.

The 14th Five-Year Plan (FYP) reiterated government promises to open the telecommunications, internet, education, culture, and healthc...

March 10, 2021

Xi’s dilemma is our dilemma

On Tuesday, Xi Jinping got all dressed up. Xi donned his Mao suit to go visit the PLA delegation to the National People’s Congress. Xi’s visit came as no surprise. Xi has made sure to sit down with the PLA delegation at every Two Sessions since he took over the Party in 2012. Xi’s message:&nb…

On Tuesday, Xi Jinping got all dressed up.

Xi donned his Mao suit to go visit the PLA delegation to the National People’s Congress.

Xi’s visit came as no surprise. Xi has made sure to sit down with the PLA delegation at every Two Sessions since he took over the Party in 2012.
Xi’s message:&nb...

sources

Xinhua: 习近平在出席解放军和武警部队代表团全体会议时强调实现“十四五”时期国防和军队建设良好开局以优异成绩迎接中国共产党建党100周年

SCMP: Xi Jinping tells China’s military ‘be prepared to respond’ in unstable times

March 10, 2021

What’s the real goal here?

On Monday, we told you the 14th Five Year Plan (FYP) set a mandatory food security target for the first time ever. The goal: Grain production should exceed 650 million tons annually in 2025. Some context: Food security has always been a top priority for China’s leaders, but it took on extra urg…

On Monday, we told you the 14th Five Year Plan (FYP) set a mandatory food security target for the first time ever.
The goal: Grain production should exceed 650 million tons annually in 2025.
Some context: Food security has always been a top priority for China’s leaders, but it took on extra urg...

March 10, 2021

SOEs to juggle conflicting priorities

The role of SOEs in the economy is a source of perennial debate. The 14th Five-Year Plan had plenty to say about that. Here’s the deal: For years, Xi Jinping has been saying that he wants SOEs to be “bigger, better, and stronger.” But what does that mean in practice? For one, the14th FYP enco…

The role of SOEs in the economy is a source of perennial debate.

The 14th Five-Year Plan had plenty to say about that.

Here’s the deal: For years, Xi Jinping has been saying that he wants SOEs to be “bigger, better, and stronger.”
But what does that mean in practice?
For one, the14th FYP enco...

sources

SASAC: 《学习时报》刊发郝鹏署名文章：充分发挥国有经济战略支撑作用

March 10, 2021

More but stable outbound investment

We’re slowly making our way through the most interesting aspects of the 14th Five-Year Plan (FYP). Here’s something juicy: The 14th FYP proposes drafting a new law on outbound investment (ODI). Some context: Policymakers want domestic companies to be better integrated into key parts of glo…

We’re slowly making our way through the most interesting aspects of the 14th Five-Year Plan (FYP).
Here’s something juicy: The 14th FYP proposes drafting a new law on outbound investment (ODI).
Some context: Policymakers want domestic companies to be better integrated into key parts of glo...

sources

NDRC: 关于“境外投资政策法规研究”任务咨询服务采购（机构）征询意向的公告[已结束]

March 10, 2021

Sluggish fiscal rebound for 2021

China’s economic growth is set to bounce back this year, but the outlook for government revenue isn’t so rosy. Anticipated government revenue for 2021 is RMB 21.45 trillion – up only 1.8% from last year (Caixin). Tax and non-tax revenues (like fees and fines) should see decent growth: These ar…

China’s economic growth is set to bounce back this year, but the outlook for government revenue isn’t so rosy.
Anticipated government revenue for 2021 is RMB 21.45 trillion – up only 1.8% from last year (Caixin).
Tax and non-tax revenues (like fees and fines) should see decent growth:

These ar...

sources

Caixin: 2021年财政收入预期增长8.1% 调入结转资金减少致可用财力增长有限

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