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Software

February 27, 2023

A financial resurrection

The Central Financial Work Commission (CFWC) will be revived at the Two Sessions in March, according to a WSJ report Thursday. The what? The CFWC was a policy-making body founded in 1998 to strengthen the Party’s oversight of the financial system after the Asian Financial Crisis. It was dissolved… Username Password Remember Me … Read More »

The Central Financial Work Commission (CFWC) will be revived at the Two Sessions in March, according to a WSJ report Thursday.
The what?

The CFWC was a policy-making body founded in 1998 to strengthen the Party's oversight of the financial system after the Asian Financial Crisis.
It was dissolved...

sources

WSJ: China to Shake Up Financial System as Xi Jinping Installs Key Associates

February 27, 2023

In out in out, shake it all about

Recent speculation that Chinese authorities have instructed state-owned enterprises (SOEs) to ditch western auditors is not being borne out. ICYMI: Bloomberg News reported the order on February 22, citing sources saying that the push aimed to bolster the local accounting industry and protect d…

Recent speculation that Chinese authorities have instructed state-owned enterprises (SOEs) to ditch western auditors is not being borne out.
ICYMI: Bloomberg News reported the order on February 22, citing sources saying that the push aimed to bolster the local accounting industry and protect d...

sources

Yicai: “四大”中国业务引关注，本周仍有国企审计采购结果公示

Caixin: “四大”中标部分国企审计项目

February 27, 2023

Power market hindering renewable energy growth

China’s power markets aren’t ready to deal with all of the renewable energy coming online over the next decade or so. That’s according to Sun Dayan, deputy director of State Grid’s power dispatch and control center, who spoke at a forum on February 23. ICYDK: State Grid operates around 80% of China’…

China's power markets aren't ready to deal with all of the renewable energy coming online over the next decade or so.
That's according to Sun Dayan, deputy director of State Grid's power dispatch and control center, who spoke at a forum on February 23.
ICYDK: State Grid operates around 80% of China'...

sources

Caixin: 国网孙大雁：电力现货市场加速平衡格局面临诸多挑战

February 27, 2023

A new “Digital China”

On Monday, the Party Central Committee and the State Council issued a new plan to build a “Digital China.” Some context: The “Digital China” concept has steadily gained momentum since it appeared in the 13th Five-Year Plan (FYP) in 2016. The new plan integrates ideas developed over the past seven y…

On Monday, the Party Central Committee and the State Council issued a new plan to build a “Digital China.”
Some context: The “Digital China” concept has steadily gained momentum since it appeared in the 13th Five-Year Plan (FYP) in 2016.

The new plan integrates ideas developed over the past seven y...

sources

Gov.cn: 中共中央国务院印发《数字中国建设整体布局规划》

Xinhua: 习近平：实施国家大数据战略加快建设数字中国

Xinhua: 习近平致信祝贺首届数字中国建设峰会开幕

February 27, 2023

Consumption resumption presumptions

Consumption is recovering – but maybe not as much as everyone’s been hoping. That was the message from China’s central bank (PBoC) in its Q4 Monetary Policy Report, published Friday. ICYMI: From 2020 to 2022, sales of consumer goods grew by an annual average of 2.6%. That’s a whopping 6.5 percentag…

Consumption is recovering – but maybe not as much as everyone’s been hoping.
That was the message from China’s central bank (PBoC) in its Q4 Monetary Policy Report, published Friday.
ICYMI: From 2020 to 2022, sales of consumer goods grew by an annual average of 2.6%.

That’s a whopping 6.5 percentag...

sources

PBoC: 中国货币政策执行报告 2022 年第四季度

February 27, 2023

Quiet cash

On Friday, the central bank (PBoC) provided an update on its economic support efforts in its Q4 Monetary Policy Report. Two things caught our eye. First, the PBoC said it had introduced two facilities to support the completion of unfinished housing: An RMB 200 billion “loan support plan” An RMB 350…

On Friday, the central bank (PBoC) provided an update on its economic support efforts in its Q4 Monetary Policy Report.
Two things caught our eye.
First, the PBoC said it had introduced two facilities to support the completion of unfinished housing:

An RMB 200 billion “loan support plan”
An RMB 350...

sources

PBoC: 中国货币政策执行报告 2022 年第四季度

February 26, 2023

You send me (data), honest you do

Another piece of the data security compliance puzzle has fallen into place. On Friday, the Cyberspace Administration of China (CAC) published the final version of the standard contract for exporting personal information. Not much changed from the draft version released last July. Some context: Chi…

Another piece of the data security compliance puzzle has fallen into place.
On Friday, the Cyberspace Administration of China (CAC) published the final version of the standard contract for exporting personal information.

Not much changed from the draft version released last July.

Some context: Chi...

sources

CAC: 个人信息出境标准合同办法

February 25, 2023

Smarter is better

On Thursday, the Ministry of Industry and Information Technology (MIIT) released an action plan to develop a robust intelligent equipment testing industry by 2025. ICYDK: Intelligent testing machinery uses smart tech to identify product defects during manufacturing. Some context: Smart equipme…

On Thursday, the Ministry of Industry and Information Technology (MIIT) released an action plan to develop a robust intelligent equipment testing industry by 2025.
ICYDK: Intelligent testing machinery uses smart tech to identify product defects during manufacturing.
Some context: Smart equipme...

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Gov.cn: 工业和信息化部等七部门关于印发《智能检测装备产业发展行动计划（2023—2025年）》的通知

February 25, 2023

MofCOM concerned about export controls

On Wednesday, Li Fei, Assistant Minister of Commerce (MofCom), called Keiichi Ono, Japan’s Senior Deputy Minister for Foreign Affairs, to discuss economic cooperation. Top of the agenda: Multilateral export controls. ICYMI: Japan, the Netherlands, and the US are finalizing their trilater…

On Wednesday, Li Fei, Assistant Minister of Commerce (MofCom), called Keiichi Ono, Japan’s Senior Deputy Minister for Foreign Affairs, to discuss economic cooperation.
Top of the agenda: Multilateral export controls.
ICYMI: Japan, the Netherlands, and the US are finalizing their trilater...

sources

Global Times: China 'highly concerned' over Japan's move on semiconductor export controls: MOFCOM

MofCom: 第16次中日经济伙伴关系磋商召开

February 25, 2023

If I only had a brain-computer interface

Last week, the US Department of Commerce hosted an event between government officials and US firms specializing in “brain-computer interface” (BCI) technologies. Background: Brain-computer interfaces are implants that allow neural signals to control simple computer applications or smart devices. Th…

Last week, the US Department of Commerce hosted an event between government officials and US firms specializing in "brain-computer interface" (BCI) technologies.
Background: Brain-computer interfaces are implants that allow neural signals to control simple computer applications or smart devices.

Th...

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Bloomberg: Brain-Computer Interface Companies Are Wary of Regulation

February 25, 2023

Audit fiasco continues?

On Wednesday, Bloomberg reported that Chinese regulators are still concerned about data security risks in light of the landmark audit deal with the US in December. Our first reaction: Are you kidding? Background: In December, Chinese regulators agreed to allow the US audit watchdog (PCAOB) to inspe…

On Wednesday, Bloomberg reported that Chinese regulators are still concerned about data security risks in light of the landmark audit deal with the US in December.
Our first reaction: Are you kidding?
Background: In December, Chinese regulators agreed to allow the US audit watchdog (PCAOB) to inspe...

sources

Bloomberg: China Urges State Firms to Drop Big Four Auditors on Data Risk

February 25, 2023

Quick Take | Is ChatGPT dead on arrival in China?

If you’ve scrolled through any Chinese mainstream news outlet in the past two weeks, you’ll know that the emergence of ChatGPT has kicked off a veritable firestorm in Chinese tech circles. Background: ChatGPT, the Microsoft-backed natural language processing tool developed by US artificial intellige…

If you’ve scrolled through any Chinese mainstream news outlet in the past two weeks, you’ll know that the emergence of ChatGPT has kicked off a veritable firestorm in Chinese tech circles.
Background: ChatGPT, the Microsoft-backed natural language processing tool developed by US artificial intellige...

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