string(13) "markets-macro"

Macro

March 9, 2021

NPC ups its game

On Monday, National People’s Congress (NPC) Chairman Li Zhanshu delivered the NPC Work Report at a meeting of China’s top legislator. Ensuring the rule of law will be the NPC’s top priority in 2021 (China Daily): “Ensuring greater observance of the Constitution and enhancing constitutionality … Username Password Remember Me Forgot Password

“Ensuring greater observance of the Constitution and enhancing constitutionality ...

sources

Caixin: 十三届全国人大四次会议第二次全体会议（文字实录）

China Daily: Legislature to continue work unhindered by challenges

March 9, 2021

Mr. Anti-monopoly

When it comes to big tech, the 14th Five-Year Plan (FYP) made one thing clear: China’s anti-monopoly drive will intensify. The document approaches antitrust issues from two key angles: Unfair competition: Preserving an ‘orderly’ market environment requires clamping down on anti-competitive …

When it comes to big tech, the 14th Five-Year Plan (FYP) made one thing clear:

China’s anti-monopoly drive will intensify.

The document approaches antitrust issues from two key angles:

Unfair competition: Preserving an ‘orderly’ market environment requires clamping down on anti-competitive ...

March 9, 2021

When climate ambition meets energy security

The 14th Five-Year Plan (FYP) has big plans to address climate change. By 2025, it aims to: Reduce energy consumption intensity by 13.5% – down from the 13th FYP target of 15% reduction Reduce carbon emission intensity by 18% – the same as the 13th FYP reduction target To achieve a lower car…

The 14th Five-Year Plan (FYP) has big plans to address climate change.
By 2025, it aims to:

Reduce energy consumption intensity by 13.5% – down from the 13th FYP target of 15% reduction
Reduce carbon emission intensity by 18% – the same as the 13th FYP reduction target

To achieve a lower car...

March 9, 2021

Letting go of fantasies on RD spending

What’s the 14th Five-Year Plan’s (FYP) target for national RD spending, you ask? 7% annual growth That’s disappointing: China’s RD spending grew by an average of 11.8% annually over the past five years. So what’s with the low number? China has been consistently missing its RD spending target…

What’s the 14th Five-Year Plan’s (FYP) target for national RD spending, you ask?

7% annual growth

That’s disappointing: China’s RD spending grew by an average of 11.8% annually over the past five years.
So what’s with the low number?

China has been consistently missing its RD spending target...

sources

The Paper: 国中心｜“十三五”时期中国研发投入增长为何不及预期

March 9, 2021

One plan to rule them all

As you already know, we spent our weekend working our way through the 14th Five-Year Plan (FYP). And boy do we have even MORE exciting news for you. This FYP has the most detailed section on implementation we’ve ever seen. Simply put, it’s a plan of plans. It mandates local, regional, and sectora…

As you already know, we spent our weekend working our way through the 14th Five-Year Plan (FYP).

And boy do we have even MORE exciting news for you.

This FYP has the most detailed section on implementation we’ve ever seen.
Simply put, it’s a plan of plans.

It mandates local, regional, and sectora...

March 8, 2021

Fool me once…

Over the weekend, proposed reforms to Hong Kong’s electoral system from the National People’s Congress were a hot topic of discussion, worldwide. On Sunday, details emerged of how the sausage was made for electoral system reforms. It looks like Beijing didn’t give Hong Kong politicians a chance to…

Over the weekend, proposed reforms to Hong Kong’s electoral system from the National People’s Congress were a hot topic of discussion, worldwide.

On Sunday, details emerged of how the sausage was made for electoral system reforms.

It looks like Beijing didn’t give Hong Kong politicians a chance to...

sources

FT: China turns its back on Hong Kong loyalists

March 8, 2021

Mouth of the (Global) South

Foreign Minister Wang Yi’s Sunday press conference was also notable for the attention he devoted to the developing world. Rather than engaging exclusively with the usual foreign policy suspects, Wang made specific overtures to the following regions: Africa Arab countries Latin America Southeast Asi…

Foreign Minister Wang Yi’s Sunday press conference was also notable for the attention he devoted to the developing world.
Rather than engaging exclusively with the usual foreign policy suspects, Wang made specific overtures to the following regions:

Africa
Arab countries
Latin America
Southeast Asi...

sources

Guancha: 国务委员兼外交部长王毅出席记者会

March 8, 2021

Wang Yi’s uncomfortable presser

On Sunday, Foreign Minster Wang Yi gave a press conference on the state of China’s foreign policy. Wang covered a lot of ground, but we detected a hint of strain in some of his comments: Specifically, Wang tried to balance a broadly conciliatory tone with hardline defenses of Beijing’s policy cours…

On Sunday, Foreign Minster Wang Yi gave a press conference on the state of China’s foreign policy.
Wang covered a lot of ground, but we detected a hint of strain in some of his comments:

Specifically, Wang tried to balance a broadly conciliatory tone with hardline defenses of Beijing’s policy cours...

sources

Guancha: 国务委员兼外交部长王毅出席记者会

March 8, 2021

Unity is strength

Xi Jinping kept busy as the Two Sessions chugged along this weekend. Xi held meetings with: Chinese People’s Political Consultative Conference delegates from the medical, health, and education sectors National People’s Congress delegates from Qinghai and Inner Mongolia Xi had quite the list of dis…

Xi Jinping kept busy as the Two Sessions chugged along this weekend.
Xi held meetings with:

Chinese People’s Political Consultative Conference delegates from the medical, health, and education sectors
National People’s Congress delegates from Qinghai and Inner Mongolia

Xi had quite the list of dis...

sources

Xinhua: （两会受权发布）习近平参加内蒙古代表团审议

Xinhua: （两会受权发布）习近平参加青海代表团审议

Xinhua: （两会受权发布）习近平看望参加政协会议的医药卫生界教育界委员

China Youth Daily: 习近平：中国已经可以平视这个世界了

March 8, 2021

Developing the data market

Hey, where are you going? We’ve got even more tantalizing tidbits about China’s evolving tech policy! The 14th Five-Year Plan also marks a major evolutionary step in China’s thinking on data policy. The quick version: Solving outstanding issues with data governance — including developin…

Hey, where are you going?

We’ve got even more tantalizing tidbits about China’s evolving tech policy!

The 14th Five-Year Plan also marks a major evolutionary step in China’s thinking on data policy.
The quick version: Solving outstanding issues with data governance — including developin...

March 8, 2021

Two-pronged tech push

Thirsty for more juicy 14th Five-Year Plan (FYP) details? We’ve got a quencher for you. The FYP emphasized technological innovation as a national strategic imperative and called for developing cutting edge technologies like: Artificial intelligence Quantum computing Semiconductors Neurosciences G…

Thirsty for more juicy 14th Five-Year Plan (FYP) details?

We’ve got a quencher for you.

The FYP emphasized technological innovation as a national strategic imperative and called for developing cutting edge technologies like:

Artificial intelligence
Quantum computing
Semiconductors
Neurosciences
G...

sources

Xinhua: (两会受权发布）“十四五”规划和2035远景目标的发展环境、指导方针和主要目标

March 8, 2021

The 14th FYP at a glance

How was your weekend? We spent ours reading through the over 140-page draft of the 14th Five-Year Plan (FYP) for National Economic and Social Development. Spoiler alert: There weren’t many surprises. Back in October, the Party’s recommendations for the FYP set out all the big priorities. Inte…

Back in October, the Party’s recommendations for the FYP set out all the big priorities.

Inte...

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