string(13) "markets-macro"

Macro

October 16, 2024

ICYMI: Foreign affairs roundup

With Premier Li Qiang on his big Asian road trip and top diplomat Wang Yi calling for calm in the Middle East, there are more foreign policy developments than you can shake an MOU on economic cooperation at. Here’s a smattering of the stuff that’s mattering: On Monday, top diplomat Wang Yi placed s… Username… Read More »

With Premier Li Qiang on his big Asian road trip and top diplomat Wang Yi calling for calm in the Middle East, there are more foreign policy developments than you can shake an MOU on economic cooperation at.
Here’s a smattering of the stuff that’s mattering:

On Monday, top diplomat Wang Yi placed s...

sources

MoFA: 王毅同以色列外长卡茨通电话

MoFA: 王毅同伊朗外长阿拉格齐通电话

MoFA: 李强同巴基斯坦总理夏巴兹会谈

Gov.cn: China ready to work with Kyrgyzstan to consolidate mutual support -- Premier Li

Gov.cn: China to work with Tajikistan to tap cooperation potential -- Premier Li

October 16, 2024

China to pilot water tax nationwide

The central government just gave localities a big new incentive to stay across industrial water use. On Tuesday, the finance ministry (MoF), tax regulator (STA), and water resource ministry (MWR) released the implementation guidelines for a national pilot program to tax water use, which will begin o…

The central government just gave localities a big new incentive to stay across industrial water use.
On Tuesday, the finance ministry (MoF), tax regulator (STA), and water resource ministry (MWR) released the implementation guidelines for a national pilot program to tax water use, which will begin o...

sources

Xinhua: 水资源费改税试点将全面实施

Gov.cn: 关于印发《水资源税改革试点实施办法》的通知

Source: [2018] China Water Resource Tax Expansion

October 16, 2024

Suits allege Tiktok intentionally failed to protect the health of minors

More details have emerged about the lawsuits filed against TikTok last week. Recap: On Thursday, we told you that the attorneys general of 14 US states had filed separate lawsuits against TikTok, alleging the platform endangers the welfare of minors. The latest: Although the details of the allegatio…

More details have emerged about the lawsuits filed against TikTok last week.
Recap: On Thursday, we told you that the attorneys general of 14 US states had filed separate lawsuits against TikTok, alleging the platform endangers the welfare of minors.
The latest: Although the details of the allegatio...

sources

NPR: TikTok executives know about app’s effect on teens, lawsuit documents allege

Washington Post: TikTok faces blowback in Congress over child safety revelations

October 16, 2024

Businesses still confused by China’s data export rules

Beijing’s efforts to make data export easier aren’t making a significant difference yet. According to a recent survey conducted by state media outlet Southern Finance, most businesses remain confused about how to navigate the new regulations (21st Century Biz). Some context: In March, the cyberspac…

Beijing’s efforts to make data export easier aren’t making a significant difference yet.
According to a recent survey conducted by state media outlet Southern Finance, most businesses remain confused about how to navigate the new regulations (21st Century Biz).
Some context: In March, the cyberspac...

sources

21st Century Biz: 重磅发布｜南财数据跨境落地现状调研报告：新规实施后全国47份文件先后出台落地成果多集中在沿海地区

October 16, 2024

Indonesia rejects Temu

Indonesia is refusing market entry to Chinese e-commerce companies. On Saturday, Reuters reported that the Indonesian government has asked Apple and Google not to allow Temu to list its app in Indonesia-facing app stores. This is part of a preemptive effort to prevent the launch of Temu in the coun…

Indonesia is refusing market entry to Chinese e-commerce companies.
On Saturday, Reuters reported that the Indonesian government has asked Apple and Google not to allow Temu to list its app in Indonesia-facing app stores.

This is part of a preemptive effort to prevent the launch of Temu in the coun...

sources

Reuters: Indonesia asks Apple, Google to block China's Temu to protect small merchants

October 15, 2024

September credit grows at slowest pace ever

Credit grew at its slowest pace on record in September. According to the central bank’s (PBoC) monthly credit data, released on Monday, outstanding total social financing (TSF) grew 8.0% y/y last month, down from 8.1% in August. Outstanding RMB loans grew 8.1% y/y, down from 8.5% in August. Net ne…

Credit grew at its slowest pace on record in September.
According to the central bank’s (PBoC) monthly credit data, released on Monday, outstanding total social financing (TSF) grew 8.0% y/y last month, down from 8.1% in August.

Outstanding RMB loans grew 8.1% y/y, down from 8.5% in August.

Net ne...

sources

PBoC: 2024年9月社会融资规模存量统计数据报告

PBoC: 2024年前三季度社会融资规模增量统计数据报告

October 15, 2024

Is RMB 6 trillion enough?

Central authorities are reportedly considering offering RMB 6 trillion over the next three years to pay down local governments’ off-balance-sheet debt – but there’s some confusion over who will be doing the borrowing. Citing unnamed sources, Caixin reported Monday that the central government will bo…

Central authorities are reportedly considering offering RMB 6 trillion over the next three years to pay down local governments' off-balance-sheet debt – but there's some confusion over who will be doing the borrowing.
Citing unnamed sources, Caixin reported Monday that the central government will bo...

sources

Caixin: Exclusive: China May Add 6 Trillion Yuan in Treasury Bonds to Buttress Economy

Bloomberg: China Weighs $853 Billion Debt Swap to Rescue Local Governments

October 15, 2024

September trade figures disappoint

China’s September export growth massively undershot expectations. Per data released by the customs bureau (GAC) on Tuesday: Exports in USD terms grew by 2.4% y/y, down from 8.7% growth the previous month Imports edged up a measly 0.3% y/y, down from 0.5% growth in August China’s trade surplus was U…

China’s September export growth massively undershot expectations.
Per data released by the customs bureau (GAC) on Tuesday:

Exports in USD terms grew by 2.4% y/y, down from 8.7% growth the previous month
Imports edged up a measly 0.3% y/y, down from 0.5% growth in August
China’s trade surplus was U...

October 15, 2024

(Re)opening the SPB pipeline for property

Authorities are bringing back a once-prohibited tool to mitigate the property market’s financial fallout. ICYMI: During its Saturday presser, the Ministry of Finance (MoF) said it would encourage local governments to buy back idle land using proceeds from special-purpose bonds (SPBs). Some backgroun…

Authorities are bringing back a once-prohibited tool to mitigate the property market’s financial fallout.
ICYMI: During its Saturday presser, the Ministry of Finance (MoF) said it would encourage local governments to buy back idle land using proceeds from special-purpose bonds (SPBs).
Some backgroun...

sources

MoF: 加大财政政策逆周期调节力度、推动经济高质量发展国新办新闻发布会文字实录

Economic Daily: 怎么看土地储备专项债重启

Gov.cn: 李克强主持召开国务院常务会议部署精准施策加大力度做好“六稳”工作等

October 15, 2024

Xi, Indonesia’s Jokowi hold farewell call

Beijing and Jakarta are paving the way for a smooth diplomatic handoff when Indonesia’s top job changes hands this weekend. On Monday, Xi Jinping hopped on a call with outgoing President Joko “Jokowi” Widodo to thank him for his “important contribution to the China-Indonesia friendship.” ICYDK: Duri…

Beijing and Jakarta are paving the way for a smooth diplomatic handoff when Indonesia's top job changes hands this weekend.
On Monday, Xi Jinping hopped on a call with outgoing President Joko "Jokowi" Widodo to thank him for his "important contribution to the China-Indonesia friendship."
ICYDK: Duri...

sources

Gov.cn: Xi says China willing to jointly promote high-quality Belt and Road cooperation with Indonesia

Lowy Institute: The risk of a Timor-like intervention still shapes Indonesia’s view of security

Reuters: Indonesia's Prabowo to visit China next month, says adviser

October 15, 2024

Li Qiang courts Vietnam amid maritime tensions

On Saturday, Premier Li Qiang traveled to Hanoi to meet with senior Vietnamese officials. Some context: Vietnam has recently become a major diplomatic priority for China. On Friday, Xi Jinping met in Beijing with Lương Cường, a top Vietnamese general and member of Vietnamese Communist Party’s Polit…

On Saturday, Premier Li Qiang traveled to Hanoi to meet with senior Vietnamese officials.
Some context: Vietnam has recently become a major diplomatic priority for China.

On Friday, Xi Jinping met in Beijing with Lương Cường, a top Vietnamese general and member of Vietnamese Communist Party's Polit...

sources

Xinhua: China ready to strengthen alignment of development strategies with Vietnam -- Chinese premier

SCMP: Is China downplaying ‘restrained’ clash with Vietnamese fishermen near Paracel Islands?

The Diplomat: At ASEAN Meeting, US Condemns Chinese Actions in South China Sea

October 15, 2024

MoF keeps some fiscal firepower in reserve

Finance Minister Lan Fo’an is looking to reassure markets that Beijing has plenty of fiscal firepower. At his press conference on Saturday, where he outlined upcoming measures to ease local government debt pressures and support the property sector, Lan also emphasized that: “We also have other poli…

Finance Minister Lan Fo’an is looking to reassure markets that Beijing has plenty of fiscal firepower.
At his press conference on Saturday, where he outlined upcoming measures to ease local government debt pressures and support the property sector, Lan also emphasized that:

“We also have other poli...

sources

SCIO: 国新办举行新闻发布会介绍“加大财政政策逆周期调节力度、推动经济高质量发展”有关情况图文实录

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