string(13) "markets-macro"

Macro

October 29, 2020

Expect big climate targets in 14th FYP

Climate targets will be front and center in China’s 14th Five Year Plan (FYP). That was the message from Li Gao, director of the Ministry of Ecology and Environment’s climate change department, at a press conference on Wednesday. Some context: Xi Jinping announced bold new climate targets in a … Username Password Remember Me … Read More »

Climate targets will be front and center in China’s 14th Five Year Plan (FYP).
That was the message from Li Gao, director of the Ministry of Ecology and Environment’s climate change department, at a press conference on Wednesday.
Some context: Xi Jinping announced bold new climate targets in a ...

sources

Gov.cn: 生态环境部10月例行新闻发布会实录

October 29, 2020

Party officials look to stay the policy course

We know all of our readers have been waiting with bated breath for the close of the Fifth Plenum. Lucky for you: We have the plenum communique hot of the presses. Not so lucky for you: There’s not a lot of meat in the communique. As expected, Party officials set out some broad developmen…

We know all of our readers have been waiting with bated breath for the close of the Fifth Plenum.

Lucky for you: We have the plenum communique hot of the presses.
Not so lucky for you: There’s not a lot of meat in the communique.

As expected, Party officials set out some broad developmen...

sources

Gov.cn: 中国共产党第十九届中央委员会第五次全体会议公报

October 28, 2020

Zhou Xiaochuan on digital currency

On Tuesday, Zhou Xiaochuan, former governor of the People’s Bank of China (PBoC), spoke at the Budapest Eurasia Forum via videolink. Zhou’s message: We’ll let the market decide the best technology for China’s digital currency (DCEP). Some context: On October 9, the G7 central banks and the…

On Tuesday, Zhou Xiaochuan, former governor of the People’s Bank of China (PBoC), spoke at the Budapest Eurasia Forum via videolink.
Zhou’s message: We’ll let the market decide the best technology for China’s digital currency (DCEP).
Some context: On October 9, the G7 central banks and the...

sources

Boao Forum: 博鳌亚洲论坛周小川副理事长出席布达佩斯欧亚论坛谈数字时代中国研发数字货币推动支付现代化

Caixin: 周小川再谈数字货币：与七国央行差别何在

Youtube: Eurasia Forum Budapest 2020 | E-conference Live

Bank of Canada: Central banks and BIS publish first central bank digital currency (CBDC) report laying out key requirements

October 28, 2020

Another technical tweak for the yuan

The People’s Bank of China (PBoC) has phased out the “X-factor,” a counter-cyclical component of the calculations behind the yuan’s daily fixing. Some context: The 14 banks that submit the daily quotes upon which the fixing is calculated had used the X-factor since January 2017 as a part of the…

The People’s Bank of China (PBoC) has phased out the “X-factor,” a counter-cyclical component of the calculations behind the yuan’s daily fixing.
Some context: The 14 banks that submit the daily quotes upon which the fixing is calculated had used the X-factor since January 2017 as a part of the...

sources

Reuters: China phases out use of ‘X-factor’ in managing yuan value

October 28, 2020

Aluminum, coking discouraged by MEE

On Tuesday, the Ministry of Ecology and Environment (MEE) recommended that aluminum and coking be removed from an official list of “encouraged industries” for development in China’s western regions. MEE’s recommendations were addressed to the National Development and Reform Commission, telling the b…

On Tuesday, the Ministry of Ecology and Environment (MEE) recommended that aluminum and coking be removed from an official list of “encouraged industries” for development in China’s western regions.
MEE’s recommendations were addressed to the National Development and Reform Commission, telling the b...

sources

Gov.cn: 关于《西部地区鼓励类产业目录（2020年本）》意见的复函

Reuters: China environment ministry calls for end to aluminium sector’s move west

October 28, 2020

MoF says no to PPP

On Wednesday, the Ministry of Finance (MoF) said that special purpose bonds (SPBs) cannot be used to finance public-private partnership (PPP) projects. This was a direct response to a policy suggestion from some legislative representatives in Gansu province, who requested to fund local PPP projects…

On Wednesday, the Ministry of Finance (MoF) said that special purpose bonds (SPBs) cannot be used to finance public-private partnership (PPP) projects.

This was a direct response to a policy suggestion from some legislative representatives in Gansu province, who requested to fund local PPP projects...

sources

Caixin: 专项债券可以做PPP项目资本金吗？财政部不认可

October 28, 2020

Guangdong legal

On Monday, Hong Kong’s Secretary for Justice Teresa Cheng Yeuk-wah published a blog post calling for Hong Kong enterprises in the Greater Bay Area (GBA) to be able to adopt Hong Kong law for purposes of arbitration and contracts. We’ll let Cheng explain what that means (Gov.hk) “We hope that w…

On Monday, Hong Kong’s Secretary for Justice Teresa Cheng Yeuk-wah published a blog post calling for Hong Kong enterprises in the Greater Bay Area (GBA) to be able to adopt Hong Kong law for purposes of arbitration and contracts.
We’ll let Cheng explain what that means (Gov.hk)

“We hope that w...

sources

Gov.hk: Capitalise on bay area development

The Standard: HK law push for bay disputes

Caixin: 港府研究大湾区推行“港资港法港仲裁”

The Paper: 林郑月娥下周访京，将与中央相关部委商讨支持香港经济措施

October 28, 2020

Kashgar outbreak shows limited spread

On Tuesday, Xinjiang officials held their third press conference on the COVID-19 outbreak in Kashgar prefecture, where the first asymptomatic carrier was found on Saturday. As of Tuesday, Kashgar has reported (Xinjiang HC): 22 confirmed cases 161 asymptomatic carriers Don’t expect to see many more…

On Tuesday, Xinjiang officials held their third press conference on the COVID-19 outbreak in Kashgar prefecture, where the first asymptomatic carrier was found on Saturday.
As of Tuesday, Kashgar has reported (Xinjiang HC):

22 confirmed cases
161 asymptomatic carriers

Don’t expect to see many more...

sources

Xinjiang HC: 10月27日新疆举行“喀什地区疏附县新冠肺炎疫情和疫情防控工作”新闻发布会（第三场）

Caixin: 独家|喀什疫情暴发地为一制衣厂

Caixin: Exclusive: New Covid-19 Outbreak in Xinjiang Traced to Garment Factory

The Paper: 喀什疫情溯源：疏附县本土病毒可能性不大，暂未发现超级传播者

October 28, 2020

Finance gets greener

On Wednesday, five regulatory agencies – led by the environmental ministry – published a set of guiding opinions designed to direct more resources toward climate-friendly projects, and mobilize the financial system to combat climate change. Some context: The opinions were originally issued on O…

On Wednesday, five regulatory agencies – led by the environmental ministry – published a set of guiding opinions designed to direct more resources toward climate-friendly projects, and mobilize the financial system to combat climate change.
Some context: The opinions were originally issued on O...

sources

Gov.cn: 关于促进应对气候变化投融资的指导意见

Bloomberg: China Seeks Big Money’s Help Reaching Its Carbon-Neutral Goal

October 27, 2020

Hainan introduces QFLP program, SAFE considers nationwide update

On Monday, authorities in Hainan issued interim measures that make it easier for foreign investors to invest in Hainan through a Qualified Foreign Limited Partnership (QFLP) program. Some context: QFLP programs allow foreign institutional and individual investors to invest in the Chinese privat…

On Monday, authorities in Hainan issued interim measures that make it easier for foreign investors to invest in Hainan through a Qualified Foreign Limited Partnership (QFLP) program.
Some context: QFLP programs allow foreign institutional and individual investors to invest in the Chinese privat...

sources

21st Century Biz: 海南自贸港QFLP暂行办法出台投资实施负面清单管理

Caixin: 外汇局正研究QFLP试点改革方案考虑放宽海外投资限制

Caixin: Authorities Looking to Loosen Rules for Foreign Investment in Chinese Assets

CGTN: China to further relax rules for foreign investment

SCIO: 国新办举行前三季度外汇收支数据新闻发布会

October 27, 2020

Steeling ourselves for winter

Steel producers in Tangshan and Handan felt the first chill of the season as production restrictions kicked in due to poor air quality last Friday. Some context: Since 2017, authorities have issued strict winter smog control plans that curtail industrial production on highly polluted days. The …

Steel producers in Tangshan and Handan felt the first chill of the season as production restrictions kicked in due to poor air quality last Friday.
Some context: Since 2017, authorities have issued strict winter smog control plans that curtail industrial production on highly polluted days. The ...

sources

21st Century Biz: 钢铁限产潮再起：唐山临停涉20多家企业，高库存抑制四季度价格

October 27, 2020

Financial Holdco rules draw nearer

On November 1, the central bank’s new requirement – that non-financial companies controlling two or more financial institutions must register as financial holding companies – will take effect. On Monday, People’s Bank of China (PBoC) deputy governor Pan Gongsheng shared some thoughts on the new rule…

On November 1, the central bank’s new requirement – that non-financial companies controlling two or more financial institutions must register as financial holding companies – will take effect.
On Monday, People’s Bank of China (PBoC) deputy governor Pan Gongsheng shared some thoughts on the new rule...

sources

21st Century Biz: 再过7天金控办法正式实施！潘功胜、朱鹤新、李晓鹏等深入解读

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