string(13) "markets-macro"

Macro

November 2, 2020

Smells like Plenum spirit

On Saturday, Vice Premier Liu He chaired a meeting of the State Council’s Financial Stability and Development Committee (FSDC). Why the get-together? To study the spirit of the fifth plenum, of course! The fifth plenum entails a lengthy financial reform checklist. According to the FSDC, it will in… Username Password Remember Me Forgot… Read More »

On Saturday, Vice Premier Liu He chaired a meeting of the State Council’s Financial Stability and Development Committee (FSDC).
Why the get-together?

To study the spirit of the fifth plenum, of course!

The fifth plenum entails a lengthy financial reform checklist. According to the FSDC, it will in...

sources

Gov.cn: 刘鹤主持召开国务院金融稳定发展委员会专题会议

November 2, 2020

Xi Jinping, first of his name, unbreaker of supply chains

DCS isn’t all Xi discussed during the April CCFEA meeting (see previous entry). He also broached a topic occupying the attention of corporate boards across China. Namely, how to secure China’s supply chains amid heightened US-China tensions and the COVID-19 pandemic. Xi believes redundancy is…

DCS isn’t all Xi discussed during the April CCFEA meeting (see previous entry).
He also broached a topic occupying the attention of corporate boards across China.

Namely, how to secure China’s supply chains amid heightened US-China tensions and the COVID-19 pandemic.

Xi believes redundancy is...

sources

Qiushi: 国家中长期经济社会发展战略若干重大问题

November 2, 2020

DCS: The origin story

Over the weekend, the Party’s top journal, Qiushi, published an excerpt of Xi Jinping’s remarks at the seventh meeting of the Central Commission for Financial and Economic Affairs (CCFEA) back in April. Some context: Held on roughly a quarterly basis, CCFEA meetings often discuss the count…

Over the weekend, the Party’s top journal, Qiushi, published an excerpt of Xi Jinping’s remarks at the seventh meeting of the Central Commission for Financial and Economic Affairs (CCFEA) back in April.
Some context: Held on roughly a quarterly basis, CCFEA meetings often discuss the count...

sources

Qiushi: 国家中长期经济社会发展战略若干重大问题

October 30, 2020

Xi’s power grows

Important political events like the fifth plenum are good opportunities to gauge Xi Jinping’s power. Our conclusion: He’s doin’ good. At Friday morning’s press conference, Han Wenxiu, Vice Premier Liu He’s right-hand man and the drafter of the Party’s 14th Five-Year Plan (FYP) recommendations, …

Important political events like the fifth plenum are good opportunities to gauge Xi Jinping’s power.
Our conclusion: He’s doin’ good.
At Friday morning’s press conference, Han Wenxiu, Vice Premier Liu He’s right-hand man and the drafter of the Party’s 14th Five-Year Plan (FYP) recommendations, ...

sources

Xinhua: 中共中央于新闻发布会

October 30, 2020

Setting the stage to look at the plenum

Every policy dork in China is parsing the communique that emerged from the fifth plenum of the CCP’s 19th Central Committee which was released Thursday night. Obviously, so are we. But before we get down to business, we want to clear up two misunderstandings about the plenum that we’ve seen floati…

Every policy dork in China is parsing the communique that emerged from the fifth plenum of the CCP’s 19th Central Committee which was released Thursday night.

Obviously, so are we.

But before we get down to business, we want to clear up two misunderstandings about the plenum that we’ve seen floati...

October 30, 2020

Out with the Wang, in with the Jiang

On Friday morning, one cadre came to the plenum press conference with a dashing new title. Seated prominently on the dais was Jiang Jinquan, the newly appointed director of the Party’s Central Policy Research Office (CPRO). This is a big job: The CPRO serves as the Party leadership’s brain trust …

On Friday morning, one cadre came to the plenum press conference with a dashing new title.

Seated prominently on the dais was Jiang Jinquan, the newly appointed director of the Party’s Central Policy Research Office (CPRO).

This is a big job:

The CPRO serves as the Party leadership’s brain trust ...

sources

Caixin: 人事观察|江金权任中央政策研究室主任

October 30, 2020

Dual circulation front and center at plenum presser

The dual circulation strategy (DCS) also got some airtime at Friday morning’s plenum presser. Han Wenxiu, deputy director of the Office of the Central Financial and Economic Affairs Commission, fielded a question that’s on everyone’s mind: Does the advent of the DCS spell the end of China’s e…

The dual circulation strategy (DCS) also got some airtime at Friday morning’s plenum presser.
Han Wenxiu, deputy director of the Office of the Central Financial and Economic Affairs Commission, fielded a question that’s on everyone’s mind:

Does the advent of the DCS spell the end of China’s e...

sources

Xinhua: 中共中央于新闻发布会

October 30, 2020

The 14th FYP: now with 100% more technocracy

The communique that emerged from the fifth plenum also provides a preview of the government’s evolving approach to technological development. Just when you thought the Party had maxed out on technocracy (Xinhua): For the first time in the history of China’s five-year plans, innovation and sci-…

The communique that emerged from the fifth plenum also provides a preview of the government’s evolving approach to technological development.
Just when you thought the Party had maxed out on technocracy (Xinhua):

For the first time in the history of China’s five-year plans, innovation and sci-...

sources

Xinhua: 坚持创新在现代化建设全局中的核心地位

October 29, 2020

Double-digit growth in real estate bond financing in September

Real estate developers are rushing to get hold of financing while they still can. On Wednesday, Centaline Property Agency released the latest numbers for real estate financing: Domestic bond issuance by real estate developers exceeded RMB 100 billion in September. That’s up 48.6% on the same period…

Real estate developers are rushing to get hold of financing while they still can.
On Wednesday, Centaline Property Agency released the latest numbers for real estate financing:

Domestic bond issuance by real estate developers exceeded RMB 100 billion in September.
That’s up 48.6% on the same period...

sources

21st Century Biz: “三条红线” 冲击波：房企融资继续井喷投资规模骤降

Shanghai Securities News: 9月以来房企债券融资超千亿元

October 29, 2020

Mongolian coal edging out the Aussies

There’s still no official confirmation that Australian coal imports have been suspended, but it’s starting to show up in the data. September trade data shows Mongolian coking coal imports increased more than 26% m/m, while Australian coking coal imports fell by more than 34%. That means Mongolia ha…

There’s still no official confirmation that Australian coal imports have been suspended, but it’s starting to show up in the data.

September trade data shows Mongolian coking coal imports increased more than 26% m/m, while Australian coking coal imports fell by more than 34%.
That means Mongolia ha...

sources

Sina: 蒙煤的进口是否能填补澳煤的进口？

SCMP: China’s ban on Australian coal causes surge in imports from Mongolia, but difficulties remain

China Embassy in Mongolia: 中蒙边境口岸“绿色通道”实施办法

October 29, 2020

CBIRC warns of finance livestreaming risks

Financial innovation is alive and well in China. Sadly, it’s not the kind regulators want. On Wednesday, the China Banking and Insurance Regulatory Commission (CBIRC) issued a statement warning against the marketing of financial products via livestreaming. Say what? Believe it or not, livestre…

Financial innovation is alive and well in China. Sadly, it’s not the kind regulators want.
On Wednesday, the China Banking and Insurance Regulatory Commission (CBIRC) issued a statement warning against the marketing of financial products via livestreaming.
Say what?

Believe it or not, livestre...

sources

CBIRC: 关于防范金融直播营销有关风险的提示

Caixin: China Warns of Risks in Livestreaming Sales of Financial Products

October 29, 2020

Xiamen Bank shares suspended

That was a bad start. On Wednesday, Xiamen Bank shares were temporarily suspended after falling 10%. The bank had just completed an IPO, and its A-shares started trading on the Shanghai Stock Exchange Tuesday. Some context: Over the past several days, investor sentiment has soured toward bank…

That was a bad start.
On Wednesday, Xiamen Bank shares were temporarily suspended after falling 10%.

The bank had just completed an IPO, and its A-shares started trading on the Shanghai Stock Exchange Tuesday.

Some context: Over the past several days, investor sentiment has soured toward bank...

sources

Caixin: Trading of Xiamen Bank Shares Halted Day After IPO

Pages: 1234567891011121314151617181920212223242526272829303132333435363738394041424344454647484950515253545556575859606162636465666768697071727374757677787980818283848586878889909192939495969798991001011021031041051061071081091101111121131141151161171181191201211221231241251261271281291301311321331341351361371381391401411421431441451461471481491501511521531541551561571581591601611621631641651661671681691701711721731741751761771781791801811821831841851861871881891901911921931941951961971981992002012022032042052062072082092102112122132142152162172182192202212222232242252262272282292302312322332342352362372382392402412422432442452462472482492502512522532542552562572582592602612622632642652662672682692702712722732742752762772782792802812822832842852862872882892902912922932942952962972982993003013023033043053063073083093103113123133143153163173183193203213223233243253263273283293303313323333343353363373383393403413423433443453463473483493503513523533543553563573583593603613623633643653663673683693703713723733743753763773783793803813823833843853863873883893903913923933943953963973983994004014024034044054064074084094104114124134144154164174184194204214224234244254264274284294304314324334344354364374384394404414424434444454464474484494504514524534544554564574584594604614624634644654664674684694704714724734744754764774784794804814824834844854864874884894904914924934944954964974984995005015025035045055065075085095105115125135145155165175185195205215225235245255265275285295305315325335345355365375385395405415425435445455465475485495505515525535545555565575585595605615625635645655665675685695705715725735745755765775785795805815825835845855865875885895905915925935945955965975985996006016026036046056066076086096106116126136146156166176186196206216226236246256266276286296306316326336346356366376386396406416426436446456466476486496506516526536546556566576586596606616626636646656666676686696706716726736746756766776786796806816826836846856866876886896906916926936946956966976986997007017027037047057067077087097107117127137147157167177187197207217227237247257267277287297307317327337347357367377387397407417427437447457467477487497507517527537547557567577587597607617627637647657667677687697707717727737747757767777787797807817827837847857867877887897907917927937947957967977987998008018028038048058068078088098108118128138148158168178188198208218228238248258268278288298308318328338348358368378388398408418428438448458468478488498508518528538548558568578588598608618628638648658668678688698708718728738748758768778788798808818828838848858868878888898908918928938948958968978988999009019029039049059069079089099109119129139149159169179189199209219229239249259269279289299309319329339349359369379389399409419429439449459469479489499509519529539549559569579589599609619629639649659669679689699709719729739749759769779789799809819829839849859869879889899909919929939949959969979989991000100110021003100410051006100710081009101010111012101310141015101610171018101910201021102210231024102510261027102810291030103110321033103410351036103710381039104010411042104310441045104610471048104910501051105210531054105510561057105810591060106110621063106410651066106710681069107010711072107310741075107610771078107910801081108210831084108510861087108810891090109110921093109410951096109710981099110011011102110311041105110611071108110911101111111211131114111511161117111811191120112111221123112411251126112711281129113011311132113311341135113611371138113911401141114211431144114511461147114811491150115111521153115411551156115711581159116011611162