string(13) "markets-macro"

Macro

November 23, 2020

Liu He talks bonds

On Saturday, Vice Premier Liu He chaired a meeting of the Financial Stability and Development Committee (FSDC) – the coordinating body for financial regulators. The meeting focused on the recent spate of bond defaults, like that of Yongcheng Coal. The FSDC said it’s cool with defaults – as long as t… Username Password Remember Me … Read More »

On Saturday, Vice Premier Liu He chaired a meeting of the Financial Stability and Development Committee (FSDC) – the coordinating body for financial regulators.
The meeting focused on the recent spate of bond defaults, like that of Yongcheng Coal.
The FSDC said it’s cool with defaults – as long as t...

sources

Gov.cn: 刘鹤主持召开国务院金融稳定发展委员会第四十三次会议

November 23, 2020

Li signals policy continuity

On Saturday, Li Keqiang convened a meeting with five provincial governors to get their suggestions on economic policy. Some context: This is all in preparation for the Central Economic Work Conference (CEWC), which will be held in December. The CEWC will set economic targets and policy prioriti…

On Saturday, Li Keqiang convened a meeting with five provincial governors to get their suggestions on economic policy.
Some context: This is all in preparation for the Central Economic Work Conference (CEWC), which will be held in December. The CEWC will set economic targets and policy prioriti...

sources

Gov.cn: 李克强召开部分地方政府负责人座谈会：你们讲真话我们才能出实策

November 23, 2020

Xi touts sustainable development at G20

On Sunday, Xi Jinping virtually sat down with other heads of state for the G20 Riyadh Summit. The summit’s topic – Realizing Opportunities of the 21st Century for All – was like catnip to Xi. He opened with some general comments (Xinhua 2): “He stressed efforts to alleviate developing countries’ de…

On Sunday, Xi Jinping virtually sat down with other heads of state for the G20 Riyadh Summit.
The summit’s topic – Realizing Opportunities of the 21st Century for All – was like catnip to Xi.
He opened with some general comments (Xinhua 2):

“He stressed efforts to alleviate developing countries’ de...

sources

Xinhua: 习近平在亚太经合组织第二十七次领导人非正式会议上的讲话（全文）

Gov.cn: Xi expounds on sustainable development at G20 meeting

November 23, 2020

Xi makes waves at APEC

On Friday, Xi Jinping addressed the 32nd Asia-Pacific Economic Cooperation (APEC) summit hosted virtually from Kuala Lumpur. Most of Xi’s speech was pretty standard fare (Xinhua 2): “Xi highlighted promoting openness and inclusiveness, accelerating innovation-driven growth, enhancing regional …

On Friday, Xi Jinping addressed the 32nd Asia-Pacific Economic Cooperation (APEC) summit hosted virtually from Kuala Lumpur.
Most of Xi’s speech was pretty standard fare (Xinhua 2):

“Xi highlighted promoting openness and inclusiveness, accelerating innovation-driven growth, enhancing regional ...

sources

Xinhua: 习近平在亚太经合组织第二十七次领导人非正式会议上的讲话（全文）

Xinhua: Xinhua Headlines-Xi Focus: Xi hails APEC “family spirit,” calling for joint fight against COVID-19, economic slowdown

SCMP: China may join trade pact that replaced Trans-Pacific Partnership, Xi Jinping tells Apec

November 20, 2020

Sinopharm vaccinates one million people

On Tuesday, Sinopharm revealed that nearly one million people had been given its COVID-19 vaccines, which are still under Phase III clinical trials. According to Sinopharm Chairman Liu Jingzhen things have been going swimmingly (SCMP): “[T]he vaccines were applied to nearly a million people.” …

On Tuesday, Sinopharm revealed that nearly one million people had been given its COVID-19 vaccines, which are still under Phase III clinical trials.
According to Sinopharm Chairman Liu Jingzhen things have been going swimmingly (SCMP):

“[T]he vaccines were applied to nearly a million people.”
...

sources

The Paper: 国药集团：打新冠疫苗后到境外150多个国家的人员无一感染

SCMP: Coronavirus: 1 million Chinese injected with Sinopharm vaccine under emergency use scheme

November 20, 2020

Party like it’s 2035

On Thursday, People’s Daily published an article by Executive Vice Premier Han Zheng, laying out his thoughts on the Party’s 2035 vision. Some context: We’ve already told you about Premier Li Keqiang’s article on the 14th Five-Year Plan (FYP). Spoiler alert – Han’s article isn’t much more interesti…

On Thursday, People’s Daily published an article by Executive Vice Premier Han Zheng, laying out his thoughts on the Party’s 2035 vision.
Some context: We’ve already told you about Premier Li Keqiang’s article on the 14th Five-Year Plan (FYP).

Spoiler alert – Han’s article isn’t much more interesti...

sources

Gov.cn: 韩正:到二〇三五年基本实现社会主义现代化远景目标

November 20, 2020

State Council pushes for fairer competition

On Thursday, the State Council approved the establishment of a ministerial joint conference system for fair competition. The new system will (Gov.cn 2): Strengthen guidance on fair competition work Study and implement major policies Address pressing issues and illegal activities Encourage bett…

On Thursday, the State Council approved the establishment of a ministerial joint conference system for fair competition.
The new system will (Gov.cn 2):

Strengthen guidance on fair competition work
Study and implement major policies
Address pressing issues and illegal activities
Encourage bett...

sources

Gov.cn: 国务院办公厅关于同意建立反不正当竞争部际联席会议制度的函

Gov.cn: China to establish ministerial joint conference system for anti-unfair competition

November 20, 2020

One law to rule them all

On Wednesday, National People’s Congress chairman Li Zhanshu wrapped up a three day inspection tour to Shanxi. His message: Policymakers everywhere need to get to work implementing Xi Jinping Thought on the Rule of Law. Some context: Xi Jinping Thought on the Rule of Law is having a big we…

On Wednesday, National People’s Congress chairman Li Zhanshu wrapped up a three day inspection tour to Shanxi.
His message: Policymakers everywhere need to get to work implementing Xi Jinping Thought on the Rule of Law.
Some context: Xi Jinping Thought on the Rule of Law is having a big we...

sources

CCTV: 栗战书在山西调研

November 20, 2020

Canary in the coal mine

Last week, Yongcheng Coal and Electricity Holding Group Co., a Henan provincial SOE, sent the bond market into a tizzy when it defaulted on a RMB 1 billion bond. Things continue to look grim for the beleaguered firm. According to 21st Century Biz, Yongcheng met its bondholders on Thursday to discuss…

Last week, Yongcheng Coal and Electricity Holding Group Co., a Henan provincial SOE, sent the bond market into a tizzy when it defaulted on a RMB 1 billion bond.
Things continue to look grim for the beleaguered firm.
According to 21st Century Biz, Yongcheng met its bondholders on Thursday to discuss...

sources

21st Century Biz: 独家丨部分持有人不同意展期，265亿豫能化及永煤债券或触发交叉违约

November 19, 2020

MEE doubles down

The Ministry of Ecology and Environment (MEE) is already hard at work on the 14th Five-Year Plan (FYP) for environmental protection. Some context: The national FYP will be finalized in March. Following that, topic-specific FYPs will be published, including one for environmental protection. Foll…

The Ministry of Ecology and Environment (MEE) is already hard at work on the 14th Five-Year Plan (FYP) for environmental protection.
Some context: The national FYP will be finalized in March. Following that, topic-specific FYPs will be published, including one for environmental protection.
Foll...

sources

Yicai: “十四五”生态环保如何规划？环境部敲定十大政策着力点

November 19, 2020

Li Keqiang is conservative about growth

On Wednesday, People’s Daily published an article by Premier Li Keqiang laying out his thoughts on the forthcoming 14th Five-Year Plan (FYP). Some context: It’s common for top policymakers and advisors to editorialize a bit in the weeks following a plenum, aiming to shed a bit more light on the…

On Wednesday, People’s Daily published an article by Premier Li Keqiang laying out his thoughts on the forthcoming 14th Five-Year Plan (FYP).
Some context: It’s common for top policymakers and advisors to editorialize a bit in the weeks following a plenum, aiming to shed a bit more light on the...

sources

People's Daily: “十四五”时期经济社会发展指导方针（学习贯彻党的十九届五中全会精神）

November 19, 2020

State Council to boost consumption

RCEP wasn’t the only agenda item at Wedensday’s State Council executive meeting (see previous entry). The assembled also discussed the perennially hot topic of boosting consumption. Premier Li Keqiang said China’s recovery has been somewhat lopsided (Gov.cn 2): “At present, the prominen…

RCEP wasn’t the only agenda item at Wedensday’s State Council executive meeting (see previous entry).

The assembled also discussed the perennially hot topic of boosting consumption.

Premier Li Keqiang said China’s recovery has been somewhat lopsided (Gov.cn 2):

“At present, the prominen...

sources

Gov.cn: 李克强主持召开国务院常务会要求按时间表抓紧做好区域全面经济伙伴关系协定落地实施国内相关工作等

Gov.cn: China adopts new steps to bolster consumption, facilitate Internet Plus tourism

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