string(13) "markets-macro"

Macro

December 11, 2020

Hong Kong gets mainland audit papers

On Friday, the Ministry of Finance handed over the audit working papers of seven Hong Kong-listed Chinese companies to the Financial Reporting Council (FRC), the city’s auditing watchdog. The papers were transferred after mainland authorities confirmed they didn’t contain state secrets. Another fou… Username Password Remember Me Forgot Password

On Friday, the Ministry of Finance handed over the audit working papers of seven Hong Kong-listed Chinese companies to the Financial Reporting Council (FRC), the city’s auditing watchdog.

The papers were transferred after mainland authorities confirmed they didn’t contain state secrets.
Another fou...

sources

SCMP: ‘State secrets’ no more: Hong Kong regulator gains access to HKEX-listed Chinese firms’ audit papers in breakthrough

December 11, 2020

Finance officials warn over local government debt

Current and former Ministry of Finance (MoF) officials sounded off about the risks posed by rising local government debt at a forum on Tuesday. Xue Xiaogan, deputy director of MoF’s Government Debt Research and Evaluation Center said that outstanding local government debt would reach RMB 26 trillion…

Current and former Ministry of Finance (MoF) officials sounded off about the risks posed by rising local government debt at a forum on Tuesday.
Xue Xiaogan, deputy director of MoF’s Government Debt Research and Evaluation Center said that outstanding local government debt would reach RMB 26 trillion...

sources

Caixin: Finance Officials Sound Alarm Over Surging Local Government Debt

Caixin: 地方债务率逼近警戒区间如何防控风险？

December 10, 2020

Chinese vaccine approved in UAE

On Wednesday, the United Arab Emirates (UAE) Ministry of Health and Prevention “officially registered” a COVID-19 vaccine developed by China’s Sinopharm. Some context: UAE is one of ten countries where Sinopharm has phase III clinical trials of its two COVID-19 vaccines underway. According to t…

On Wednesday, the United Arab Emirates (UAE) Ministry of Health and Prevention “officially registered” a COVID-19 vaccine developed by China’s Sinopharm.
Some context: UAE is one of ten countries where Sinopharm has phase III clinical trials of its two COVID-19 vaccines underway.
According to t...

sources

Caixin: 解药|中国新冠疫苗在阿联酋获批关键试验数据有待披露

21st Century Biz: 中国新冠灭活疫苗在阿联酋获批上市

NYT: Chinese Covid-19 Vaccine Gets Key Push, but Doubts Swirl

December 10, 2020

Pollution control hole gets long awaited patch

Wednesday’s State Council executive meeting didn’t just focus on insurance (see above entry). Also on the agenda: A long-awaited set of Regulations on the Management of Pollution Discharge Permits. Some context: Pollution discharge permits let companies purchase licenses to discharge waste…

Wednesday’s State Council executive meeting didn’t just focus on insurance (see above entry).
Also on the agenda: A long-awaited set of Regulations on the Management of Pollution Discharge Permits.
Some context: Pollution discharge permits let companies purchase licenses to discharge waste...

sources

Gov.cn: 李克强主持召开国务院常务会议

NMD: 国务院通过排污许可管理条例草案：对违法行为加大处罚，可采取停业、关闭等措施从严处理

December 10, 2020

This time, it’s personal (insurance reform)

On Wednesday, Premier Li Keqiang presided over the State Council’s weekly executive meeting. Top of the agenda: Improving the quality and coverage of personal insurance. Some context: In China, the category of “personal insurance” includes both life and health insurance. The meeting readou…

On Wednesday, Premier Li Keqiang presided over the State Council’s weekly executive meeting.
Top of the agenda: Improving the quality and coverage of personal insurance.
Some context: In China, the category of “personal insurance” includes both life and health insurance.
The meeting readou...

sources

Gov.cn: 李克强主持召开国务院常务会议部署促进人身保险扩面提质稳健发展的措施等

Gov.cn: China to refine financial services, promote development of personal insurance

December 10, 2020

Xi urges Macron to be independent

On Wednesday, Xi Jinping called French President Emmanuel Macron with a not-so-subtle exhortation to resist falling into the American orbit. Xi said that relations between China and France were founded on a basis of (Xinhua 2): “Independence, mutual understanding, foresight, mutual benefit and…

On Wednesday, Xi Jinping called French President Emmanuel Macron with a not-so-subtle exhortation to resist falling into the American orbit.
Xi said that relations between China and France were founded on a basis of (Xinhua 2):

“Independence, mutual understanding, foresight, mutual benefit and...

sources

Xinhua: 习近平同法国总统马克龙通电话两国元首就下阶段中法合作达成重要共识

Xinhua: Xi, Macron reach important consensus on China-France cooperation in next stage

CGTN: China, France reach important consensus on cooperation in next stage

December 10, 2020

PBoC governor signals support for green bonds

People’s Bank of China (PBoC) Governor Yi Gang discussed efforts to support the growing green bonds sector in virtual remarks to a financial forum on Wednesday. Why it matters: Yi says it’s a crucial component in China’s drive to peak carbon emissions by 2030 and achieve carbon neutrality by 20…

People’s Bank of China (PBoC) Governor Yi Gang discussed efforts to support the growing green bonds sector in virtual remarks to a financial forum on Wednesday.
Why it matters: Yi says it’s a crucial component in China’s drive to peak carbon emissions by 2030 and achieve carbon neutrality by 20...

sources

Yicai: 易纲：央行将继续探索利用金融科技发展绿色金融

Climate Bonds: China Green Bond Market 2019 Research Report

The Edge: People’s Bank of China reaffirms commitment to Green Finance at FinTech Festival

December 10, 2020

Data dump – credit

China’s central bank released credit data for November late yesterday. The deets: Net new total social financing (TSF) hit RMB 2.13 trillion last month, higher than the forecasted RMB 2.08 trillion. Net new bank loans was RMB 1.43 trillion in November, slightly missing the average forecast of RMB 1…

China’s central bank released credit data for November late yesterday.
The deets:

Net new total social financing (TSF) hit RMB 2.13 trillion last month, higher than the forecasted RMB 2.08 trillion.
Net new bank loans was RMB 1.43 trillion in November, slightly missing the average forecast of RMB 1...

sources

PBoC: 2020年11月金融统计数据报告

Bloomberg: China’s Credit Growth Shows Signs of Peaking in November

December 9, 2020

Chengdu heads toward bigger outbreak

A local COVID-19 outbreak originating in Chengdu, Sichuan has continued to spread. Authorities have reported (Chengdu HC): Two domestically transmitted confirmed COVID-19 cases on Monday. Four domestically transmitted confirmed cases and one asymptomatic case on Tuesday. Chengdu authorities have t…

A local COVID-19 outbreak originating in Chengdu, Sichuan has continued to spread.
Authorities have reported (Chengdu HC):

Two domestically transmitted confirmed COVID-19 cases on Monday.
Four domestically transmitted confirmed cases and one asymptomatic case on Tuesday.

Chengdu authorities have t...

sources

Chengdu HC: 12月8日成都市新增4例新冠肺炎确诊病例和1名无症状感染者

The Paper: 成都郫都区完成5个风控地区核酸采样工作，共采集近2万例样本

The Paper: 成都郫都区教育局：中风险区域学校教职员工、学生全部居家隔离

The Paper: 成都娱乐行业下发紧急通知，各场所消费人数不超过75%

21st Century Biz: 成都确诊女生发声：信息遭泄露1分钟6个来电，此前在酒吧工作不知奶奶确诊

December 9, 2020

Who is more authoritative?

On Wednesday, Study Times, a publication of the Central Party School, published an editorial by Secretary-general of the Central Political and Legal Affairs Commission Chen Yixin. The topic: Xi Jinping Thought on the Rule of Law. Some context: Studying Xi’s musings on the rule of law has b…

On Wednesday, Study Times, a publication of the Central Party School, published an editorial by Secretary-general of the Central Political and Legal Affairs Commission Chen Yixin.
The topic: Xi Jinping Thought on the Rule of Law.
Some context: Studying Xi’s musings on the rule of law has b...

sources

The Paper: 学深悟透习近平法治思想加快推进全面依法治国

December 9, 2020

US sanctions provoke angry response

The fun never stops in the wonderful world of the US-China recrimination whirlpool. On Monday, the US State Department announced a new batch of sanctions against 14 members of China’s legislature (NPC) for their role in passing the Hong Kong national security law. The sanctions institute an asset f…

The fun never stops in the wonderful world of the US-China recrimination whirlpool.
On Monday, the US State Department announced a new batch of sanctions against 14 members of China’s legislature (NPC) for their role in passing the Hong Kong national security law.

The sanctions institute an asset f...

sources

US Department of State: Designations of National People’s Congress Officials Undermining the Autonomy of Hong Kong

SCMP: US sanctions Chinese legislators for national security law on Hong Kong

Xinhua: 外交部副部长郑泽光召见美国驻华使馆临时代办对美方制裁我全国人大常委会副委员长提出严正抗议、予以强烈谴责

Gov.cn: Foreign Ministry Spokesperson Hua Chunying’s Regular Press Conference on December 8, 2020

December 9, 2020

Goldman Sachs applies to own 100% of securities JV

On Tuesday, financial media reported that Goldman Sachs Group applied to Chinese regulators to take full control of its China securities JV, Goldman Sachs Gao Hua. Regulatory approval would make Goldman the first foreign financial institution to take full control of its China securities JV. The de…

On Tuesday, financial media reported that Goldman Sachs Group applied to Chinese regulators to take full control of its China securities JV, Goldman Sachs Gao Hua.

Regulatory approval would make Goldman the first foreign financial institution to take full control of its China securities JV.

The de...

sources

Nikkei: Goldman Sachs seeks full ownership of China securities venture

Bloomberg: Goldman Sachs Racing to Be First With 100% of China Venture

21st Century Biz: 外资独资券商跃跃欲试高盛已启动全资控股高盛高华收购程序

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