string(13) "markets-macro"

Macro

October 27, 2020

Finally, a bank IPO

Well, that’s been a long time coming. Xiamen Bank went public on the Shanghai stock exchange today. It’s the first A-share IPO by a bank this year. Some context: There’s a long line of banks queuing to IPO, but it’s a bad time to sell bank shares. All but a handful of China’s 52 listed… Username… Read More »

Well, that’s been a long time coming.
Xiamen Bank went public on the Shanghai stock exchange today.

It’s the first A-share IPO by a bank this year.

Some context: There’s a long line of banks queuing to IPO, but it’s a bad time to sell bank shares.

All but a handful of China’s 52 listed...

sources

21st Century Biz:

October 27, 2020

Tit-for-tat, back-to-back

On Monday, China’s foreign ministry announced that it will impose sanctions on some US defense companies and place new restrictions on American news organizations in China. The response was prompted by: Washington’s announcement on Wednesday that it had approved a USD 1.8 billion arms sale to Taiwa…

Washington’s announcement on Wednesday that it had approved a USD 1.8 billion arms sale to Taiwa...

sources

Gov.cn: Foreign Ministry Spokesperson Zhao Lijian’s Regular Press Conference on October 26, 2020

Gov.cn: 外交部发言人赵立坚就中方针对美方增列6家中国媒体为“外国使团”采取对等反制措施答记者问

US State Department: Designation of Additional PRC Propaganda Outlets as Foreign Missions

Reuters: China gives six U.S. media outlets a week to report on operations

BBC: US approves $1.8bn weapons sale to Taiwan

October 27, 2020

PBoC’s regulatory power bolstered through legislation

Yesterday, we mentioned that draft revisions to the Law of the People’s Bank of China did more than just laying the legal groundwork for the central bank’s digital currency. The draft formally codifies the central bank’s (PBoC) place at the top of the heap of China’s financial regulators. Some con…

Yesterday, we mentioned that draft revisions to the Law of the People’s Bank of China did more than just laying the legal groundwork for the central bank’s digital currency.

The draft formally codifies the central bank’s (PBoC) place at the top of the heap of China’s financial regulators.

Some con...

sources

PBoC: 中国人民银行关于《中华人民共和国中国人民银行法（修订草案征求意见稿）》公开征求意见的通知

Caijing: 中国修法催生“超级央行”

October 26, 2020

New COVID-19 outbreak in Xinjiang

Over the weekend, COVID-19 reared its ugly head in the western city of Kashgar in Xinjiang (Xinjiang NHC). The timeline: On Saturday, local authorities discovered an asymptomatic COVID-19 carrier through routine testing. On Sunday, another 137 asymptomatic cases were identified viacontact trac…

Over the weekend, COVID-19 reared its ugly head in the western city of Kashgar in Xinjiang (Xinjiang NHC).
The timeline:

On Saturday, local authorities discovered an asymptomatic COVID-19 carrier through routine testing.
On Sunday, another 137 asymptomatic cases were identified viacontact trac...

sources

Xinjiang HC: 喀什新增137例新冠肺炎无症状感染者

Xinjiang HC: 10月25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

Xinhua: 国家卫健委派工作组赴喀什

The Paper: 喀什：各中小学幼儿园停课至10月30日，商超正常物资充足

The Paper: 新疆喀什疏附县4乡镇升级为疫情高风险地区

Xinhua: 新疆喀什航空、铁路、公路等交通道路全部正常畅通

October 26, 2020

US pleased with China ag purchases

A kind word for China? From Washington?!? Believe it or not, it happened. On Saturday, the US Trade Representative and the Department of Agriculture hailed China’s progress in implementing agriculture-related aspects of the phase one trade deal. Some context: The deal, signed January 15, was negot…

A kind word for China? From Washington?!?

Believe it or not, it happened.

On Saturday, the US Trade Representative and the Department of Agriculture hailed China’s progress in implementing agriculture-related aspects of the phase one trade deal.
Some context: The deal, signed January 15, was negot...

sources

Reuters: China’s purchases of U.S. farm goods at 71% of target under trade deal: U.S.

Reuters: Exclusive: China eyes more corn imports as shipments surge, set to become top buyer

Bloomberg: China Loading Up on Sorghum Gives Century-Old Trader a Boost

October 26, 2020

Survey says…fix the business environment

On Friday, the China Small and Medium-sized Enterprises (SMEs) Promotion and Development Center released a report detailing the burdens borne by Chinese companies. Some details: The State Council commissioned the report to better understand the challengescompaniesare currently facing. The report su…

On Friday, the China Small and Medium-sized Enterprises (SMEs) Promotion and Development Center released a report detailing the burdens borne by Chinese companies.
Some details:

The State Council commissioned the report to better understand the challengescompaniesare currently facing.
The report su...

sources

Sina: 2020年全国企业负担调查评价报告

The Paper: 全国企业负担调查评价报告：企业对降低成本政策诉求较强烈

October 26, 2020

Taking care of (private) business

As Tip Sheet readers know, China’s private sector has been feeling somewhat unloved, amid a new flourishing of state capitalism. That’s why on Friday, China’s macro planner (NDRC) along with four government ministries and the central bank released a set of opinions on supporting and upgrading privat…

As Tip Sheet readers know, China’s private sector has been feeling somewhat unloved, amid a new flourishing of state capitalism.
That’s why on Friday, China’s macro planner (NDRC) along with four government ministries and the central bank released a set of opinions on supporting and upgrading privat...

sources

NDRC: 关于支持民营企业加快改革发展与转型升级的实施意见

October 26, 2020

Fifth Plenum is under way

It’s haaaaapening! The Fifth Plenum of the Party Central Committee kicked off in Beijing this morning. Why it matters: The Fifth Plenum will see thedebut ofrecommendations for China’s 14th five-year plan (14 FYP). Xi Jinping got things started by (Xinhua): Delivering a report on the Polit…

It’s haaaaapening!
The Fifth Plenum of the Party Central Committee kicked off in Beijing this morning.
Why it matters: The Fifth Plenum will see thedebut ofrecommendations for China’s 14th five-year plan (14 FYP).
Xi Jinping got things started by (Xinhua):

Delivering a report on the Polit...

sources

Xinhua: 中国共产党第十九届中央委员会第五次全体会议在京召开

The Paper: 十九届五中全会重要在哪？原中央党校副校长李君如权威分析

October 23, 2020

Sino-Swedish ties to be tested by 5G

On Tuesday, Sweden – the jewel of Scandinavia – banned Huawei and ZTE from participating in the buildout of its domestic 5G network, citing security concerns. Some context: Sweden is the latest in a growing list of countries to exclude the Chinese telecom giant. The list also includes the US, A…

On Tuesday, Sweden – the jewel of Scandinavia – banned Huawei and ZTE from participating in the buildout of its domestic 5G network, citing security concerns.
Some context: Sweden is the latest in a growing list of countries to exclude the Chinese telecom giant. The list also includes the US, A...

sources

DN: Huawei portas från svenska 5G-nät

Gov.cn: 2020年10月21日外交部发言人赵立坚主持例行记者会

The Paper: 瑞典安全部门称中国对瑞典进行间谍行为，中使馆：请让事实说话

October 23, 2020

A private debut

Hurray! We’ve finally gotten a peek at China’s long-awaited draft Personal Information Protection Law. On Wednesday, the National People’s Congress Standing Committee released it for public comment. Some context: This new Law will join the Cybersecurity Law (passed in 2017) and the Data Security L…

Hurray! We’ve finally gotten a peek at China’s long-awaited draft Personal Information Protection Law.

On Wednesday, the National People’s Congress Standing Committee released it for public comment.

Some context: This new Law will join the Cybersecurity Law (passed in 2017) and the Data Security L...

sources

NPC: 个人信息保护法草案首次亮相

October 23, 2020

It’s that time of the (five) year.

On Thursday, the Politburo Standing Committee met to discuss outcomes of the 13th Five-Year Plan (FYP). Their conclusion? It was a huge success. Some context: As the year nears its end, just about every state and party organ is meeting or reporting on how the 13th FYP went. We watch these clo…

On Thursday, the Politburo Standing Committee met to discuss outcomes of the 13th Five-Year Plan (FYP).
Their conclusion?

It was a huge success.

Some context: As the year nears its end, just about every state and party organ is meeting or reporting on how the 13th FYP went. We watch these clo...

sources

Xinhua: 中共中央政治局常务委员会召开会议听取“十三五”规划实施总结评估汇报中共中央总书记习近平主持会议

October 23, 2020

MoF releases data on local government bond issuance

On Wednesday, the Ministry of Finance (MoF) dropped the latest data on local government bond issuance. A refresher: Local governments have been using special purpose bonds (SPBs) as a primary source of fiscal stimulus. The annual quota for SPBs this year is RMB 3.75 trillion, with RMB 200 billi…

On Wednesday, the Ministry of Finance (MoF) dropped the latest data on local government bond issuance.
A refresher: Local governments have been using special purpose bonds (SPBs) as a primary source of fiscal stimulus. The annual quota for SPBs this year is RMB 3.75 trillion, with RMB 200 billi...

sources

Gov.cn: http://www.mof.gov.cn/zhengwuxinxi/caizhengxinwen/202010/t20201021_3608232.htm

Yicai: 前三季度地方偿债本息首超2万亿元，六成资金来自借新还旧

Yicai: 前8个月地方借新还旧1.2万亿，超去年全年创新高

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