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Software

July 6, 2023

Wang Wentao is all ears

Policymakers want foreign businesses to know they are welcome. On Wednesday, Minister of Commerce Wang Wentao hosted a roundtable with foreign pharmaceutical companies to hear and address their concerns. Wang brought some friends: Officials from the commerce ministry (MofCom), finance ministry (MoF)… Username Password Remember Me Forgot Password

Policymakers want foreign businesses to know they are welcome.
On Wednesday, Minister of Commerce Wang Wentao hosted a roundtable with foreign pharmaceutical companies to hear and address their concerns.
Wang brought some friends: Officials from the commerce ministry (MofCom), finance ministry (MoF)...

sources

MofCom: 商务部召开外资企业圆桌会

Reuters: China extends squeezed-out foreign pharmaceuticals firms an olive branch

July 6, 2023

Make trade, not (tech) war

Beijing wants Tokyo to stop following the US in curbing exports of advanced chip manufacturing equipment to China. On Wednesday, Premier Li Qiang told the head of a large Japanese business delegation that nations should not politicize economic matters like “some countries” (translation: USA). He al…

Beijing wants Tokyo to stop following the US in curbing exports of advanced chip manufacturing equipment to China.
On Wednesday, Premier Li Qiang told the head of a large Japanese business delegation that nations should not politicize economic matters like “some countries” (translation: USA).

He al...

sources

Xinhua: 李强会见河野洋平率领的日本国际贸易促进协会访华团

Kyodo: Japan group urges China's Li to facilitate business environment

Bloomberg: China Premier Warned Former Japanese Official of Damage From Chip Curbs

July 6, 2023

You can’t, or you won’t?

China needs to up its decarbonization game. That was the message the European Union’s climate chief delivered in Beijing this week. First Vice President of the European Commission Frans Timmermans was in town for the EU-China High-level Environment and Climate Dialogue. On Tuesday, he met with Exec…

China needs to up its decarbonization game.
That was the message the European Union’s climate chief delivered in Beijing this week.

First Vice President of the European Commission Frans Timmermans was in town for the EU-China High-level Environment and Climate Dialogue.
On Tuesday, he met with Exec...

sources

Gov.cn: 丁薛祥同欧盟委员会执行副主席蒂默曼斯举行第四次中欧环境与气候高层对话

Reuters: EU climate chief urges 'decisive' joint action with China on climate crisis

AP: EU climate chief is concerned over the expansion of the coal industry in China

July 6, 2023

Those in silicon houses shouldn’t export stones

Buckle up folks. On Wednesday, former Vice-minister of Commerce Wei Jianguo hinted China is planning further countermeasures against US-led export controls. Background: On Monday, the Ministry of Commerce (MoFCoM) announced export controls on two critical minerals, gallium and germanium. Two of …

Buckle up folks.
On Wednesday, former Vice-minister of Commerce Wei Jianguo hinted China is planning further countermeasures against US-led export controls.
Background: On Monday, the Ministry of Commerce (MoFCoM) announced export controls on two critical minerals, gallium and germanium.

Two of ...

sources

China Daily: 专访商务部原副部长魏建国：中国出口管制芯片重要原材料只是开始

MoFA: Foreign Ministry Spokesperson Wang Wenbin’s Regular Press Conference on July 5, 2023

Reuters: Dutch foreign ministry: EU will respond to new Chinese export rules

July 6, 2023

Relend, revive, relax

The central bank (PBoC) is increasing cheap funding to rural areas and small businesses. On Friday, the PBoC announced it has increased its relending and rediscounting programs by RMB 200 billion. Some context: Relending occurs when the central bank provides a commercial bank with cheap funding for …

The central bank (PBoC) is increasing cheap funding to rural areas and small businesses.
On Friday, the PBoC announced it has increased its relending and rediscounting programs by RMB 200 billion.
Some context: Relending occurs when the central bank provides a commercial bank with cheap funding for ...

sources

PBoC: 中国人民银行增加支农支小再贷款、再贴现额度2000亿元进一步加大对“三农”、小微和民营企业金融支持力度

July 6, 2023

The Dutch roll out chip controls

Beijing’s recent lobbying efforts against chip controls have failed. What happened: On Friday, the Dutch government released the details of its export controls on advanced semiconductor equipment, including the most advanced deposition and immersion lithography systems. They will take effect …

Beijing’s recent lobbying efforts against chip controls have failed.
What happened: On Friday, the Dutch government released the details of its export controls on advanced semiconductor equipment, including the most advanced deposition and immersion lithography systems.

They will take effect ...

sources

Caixin: 荷兰发布光刻机出口管制细则 9月1日生效

Nikkei: Netherlands unveils chip tool export curbs in fresh blow to China

July 6, 2023

Mainland inks data transfer MOU with Hong Kong

China is taking its first stab at a cross-border data transfer mechanism. Last week, China’s cyberspace regulator (CAC) signed an MOU with Hong Kong on promoting cross-border data flows in the Greater Bay Area (GBA). That encompasses Hong Kong, Macau, and Guangdong. The full text is not public, bu…

China is taking its first stab at a cross-border data transfer mechanism.
Last week, China’s cyberspace regulator (CAC) signed an MOU with Hong Kong on promoting cross-border data flows in the Greater Bay Area (GBA).

That encompasses Hong Kong, Macau, and Guangdong.

The full text is not public, bu...

sources

CAC: 国家互联网信息办公室与香港特区政府创新科技及工业局签署《关于促进粤港澳大湾区数据跨境流动的合作备忘录》

Gov.hk: 創新科技及工業局局長談《促進粵港澳大灣區數據跨境流動的合作備忘錄》

21st Century Biz: 数据跨境迎重要进展粤港澳大湾区数据跨境流动合作备忘录签署

July 5, 2023

Still in the woods

The housing market is still stuck in a rut. On Friday, data from China Real Estate Information Corp. (CRIC) showed that June home sales by China’s top 100 developers grew 8.5% m/m, ending a streak of monthly declines since March. But we aren’t stoked: June is traditionally a hot month for home sales…

The housing market is still stuck in a rut.
On Friday, data from China Real Estate Information Corp. (CRIC) showed that June home sales by China’s top 100 developers grew 8.5% m/m, ending a streak of monthly declines since March.
But we aren’t stoked: June is traditionally a hot month for home sales...

sources

CRIC: 2023上半年中国房地产企业销售TOP200排行榜

CRIC: 2021年上半年中国房地产企业销售TOP200排行榜

July 5, 2023

Pretty Meh Indeed

The stats bureau (NBS) and Caixin dropped their monthly Purchasing Managers’ Indices (PMI) on Friday and Monday, respectively, providing yet more evidence that China’s economy is not reaching liftoff speed. Quick refresher: The PMI gives a snapshot of business conditions based on survey respons…

The stats bureau (NBS) and Caixin dropped their monthly Purchasing Managers’ Indices (PMI) on Friday and Monday, respectively, providing yet more evidence that China's economy is not reaching liftoff speed.
Quick refresher: The PMI gives a snapshot of business conditions based on survey respons...

sources

NBS: 2023年6月中国采购经理指数运行情况

July 5, 2023

Glass half empty

Domestic consumers feel increasingly pessimistic about China’s economy. That’s according to the central bank’s (PBoC) urban household survey for Q2, published on June 29. The quarterly survey gauges household sentiment on current and future income and employment prospects. Wonky side note: Survey …

Domestic consumers feel increasingly pessimistic about China's economy.
That’s according to the central bank’s (PBoC) urban household survey for Q2, published on June 29.

The quarterly survey gauges household sentiment on current and future income and employment prospects.

Wonky side note: Survey ...

sources

PBoC: 2023 年第二季度城镇储户问卷调查报告

Source:

July 5, 2023

Preaching to the choir

Xi Jinping is increasingly pushing his own vision of global order. On Tuesday, he did so at the annual summit of the Shanghai Cooperation Organization (SCO), where he extolled the virtues of his very own Global Security, Development, and Civilization Initiatives. Some context:&nb…

Xi Jinping is increasingly pushing his own vision of global order.
On Tuesday, he did so at the annual summit of the Shanghai Cooperation Organization (SCO), where he extolled the virtues of his very own Global Security, Development, and Civilization Initiatives.
Some context:&nb...

sources

MoFA: 习近平出席上海合作组织成员国元首理事会第二十三次会议并发表重要讲话

July 5, 2023

Quit slacking off

Xi Jinping wants to create a “beautiful China.” But some officials just aren’t putting in the work. The National Audit Office’s (NAO) 2022 annual audit report on central government spending, released last week, revealed lax management of environmental protection projects. 97 pollution prevention …

Xi Jinping wants to create a "beautiful China."

But some officials just aren’t putting in the work.

The National Audit Office’s (NAO) 2022 annual audit report on central government spending, released last week, revealed lax management of environmental protection projects.

97 pollution prevention ...

sources

NAO: 国务院关于2022年度中央预算执行和其他财政收支的审计工作报告

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