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November 8, 2022

Die Reise nach Osten

On Friday, Xi Jinping welcomed German Chancellor Olaf Scholz to Beijing. Some context: Scholz is the first G7 leader to visit China since the pandemic began – and the first European leader to visit Xi since the 20th Party Congress. The trip comes as the European Union increasingly views Beijing as … Username Password Remember… Read More »

The trip comes as the European Union increasingly views Beijing as ...

sources

MoFA: President Xi Jinping Meets with German Chancellor Olaf Scholz

Reuters: Xi, Scholz warn against 'irresponsible' nuclear threats over Ukraine

DWNews: Germany's Scholz urges China to use 'influence' on Russia

November 8, 2022

Stick to it

For all the second-guessing and speculation, China’s zero-COVID policy is set to stay in place for the foreseeable future. But Trivium readers already knew that, because we wrote last week that policymakers are clearly not ready for an overhaul. Still, rumors and optimism around a potential policy …

For all the second-guessing and speculation, China's zero-COVID policy is set to stay in place for the foreseeable future.
But Trivium readers already knew that, because we wrote last week that policymakers are clearly not ready for an overhaul.

Still, rumors and optimism around a potential policy ...

sources

NHC: 国务院联防联控机制2022年11月5日新闻发布会文字实录

Reuters: China to make 'substantial' COVID policy changes soon - ex-govt expert

November 7, 2022

Money is money

On Monday, the macro planner (NDRC) released a 21-point opinion document on increasing support for private investment. The gist: Beijing wants more private cash helping fund national development goals. ICYDK: Private-sector investment makes up over half of China’s total investment mix. The NDRC high…

On Monday, the macro planner (NDRC) released a 21-point opinion document on increasing support for private investment.
The gist: Beijing wants more private cash helping fund national development goals.
ICYDK: Private-sector investment makes up over half of China's total investment mix.
The NDRC high...

sources

NDRC: 关于进一步完善政策环境加大力度支持民间投资发展的意见

November 7, 2022

China’s export engine finally sputters

China’s General Administration of Customs released trade data for October on Monday. The headlines: Exports fell 0.3% y/y in dollar terms in October, down from 5.7% y/y growth in September. Imports dropped by 0.7% y/y, versus 0.3% y/y growth in September. The trade surplus was USD 85.15 billion, co…

China’s General Administration of Customs released trade data for October on Monday.
The headlines:

Exports fell 0.3% y/y in dollar terms in October, down from 5.7% y/y growth in September.
Imports dropped by 0.7% y/y, versus 0.3% y/y growth in September.
The trade surplus was USD 85.15 billion, co...

sources

Bloomberg: Chinese Trade Unexpectedly Drops as Demand Slowdown Worsens

SCMP: China trade: export growth suffers first drop in over 2 years, imports also down

November 7, 2022

Apple hits control-alt-esc from Covid-zero

Is the zero-Covid policy claiming its first big tech victim? On Thursday, Bloomberg reported that Foxconn will dramatically shift iPhone production to India after a major Covid outbreak at its key Zhengzhou mega-factory severely impacted production. Foxconn and Apple also released separate st…

Is the zero-Covid policy claiming its first big tech victim?
On Thursday, Bloomberg reported that Foxconn will dramatically shift iPhone production to India after a major Covid outbreak at its key Zhengzhou mega-factory severely impacted production.

Foxconn and Apple also released separate st...

sources

Bloomberg: Apple Adds New iPhone 14 Maker in India in Shift From China

Twitter: Foxconn will accelerate the expansion of iPhone production capacity in India after Zhengzhou iPhone plant's COVID-19 lockdown

Bloomberg: China to ‘Unswervingly’ Keep to Covid Zero Policy, Dashing Hopes

November 7, 2022

No cyberbullying on CAC’s watch

Think China’s social media platforms already have a heavy burden monitoring their online content? Well, it’s about to get heavier. On Friday, the CAC issued a notice strengthening online anti-cyber violence and online bullying rules. A few interesting bits stood out. First, the rules require pla…

Think China’s social media platforms already have a heavy burden monitoring their online content?

Well, it’s about to get heavier.

On Friday, the CAC issued a notice strengthening online anti-cyber violence and online bullying rules.

A few interesting bits stood out.

First, the rules require pla...

sources

CAC: 中央网信办印发《关于切实加强网络暴力治理的通知》

November 7, 2022

AV pilot rules are going national

Last Wednesday, the industrial ministry (MIIT) and the Ministry of Public Security (MPS) issued draft rules governing autonomous vehicle (AV) pilot testing programs nationwide. Some context: Many cities have AV pilot zones, but no centralized standardization exists. More context: The pace of develop…

Last Wednesday, the industrial ministry (MIIT) and the Ministry of Public Security (MPS) issued draft rules governing autonomous vehicle (AV) pilot testing programs nationwide.
Some context: Many cities have AV pilot zones, but no centralized standardization exists.
More context: The pace of develop...

sources

MIIT: 公开征求对《关于开展智能网联汽车准入和上路通行试点工作的通知（征求意见稿）》的意见

November 7, 2022

Call me an optimist

The US is on a lobbying spree to convince its allies – mainly the Netherlands and Japan – to block China from accessing advanced chipmaking tools. But it’s going to be a tough sell. Background: US semiconductor manufacturers are now subject to strict US export controls. But their comp…

The US is on a lobbying spree to convince its allies – mainly the Netherlands and Japan – to block China from accessing advanced chipmaking tools.

But it’s going to be a tough sell.

Background: US semiconductor manufacturers are now subject to strict US export controls.

But their comp...

sources

Bloomberg: US Chip-Gear Makers Told to Wait for Relief From China Curbs

November 7, 2022

A Fan Yi thing happened on the way to the bank

The central bank (PBoC) is being tainted by another graft scandal. On Saturday, China’s anticorruption watchdog (CCDI) said that it’s investigating PBoC Deputy Governor Fan Yifei for “suspected severe violations of discipline and laws” – a euphemism for corruption. As usual, the CCDI didn’t give d…

The central bank (PBoC) is being tainted by another graft scandal.
On Saturday, China’s anticorruption watchdog (CCDI) said that it’s investigating PBoC Deputy Governor Fan Yifei for “suspected severe violations of discipline and laws” – a euphemism for corruption.

As usual, the CCDI didn’t give d...

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CCDI: 中国人民银行党委委员、副行长范一飞接受中央纪委国家监委审查调查

WSJ: China Investigates Central Bank Deputy Governor in First Major Probe Since Party Congress

Caixin: 央行副行长范一飞被查成二十大后落马“首虎”

November 7, 2022

Take a walk on the supply side

Vice Premier Liu He is about to exit China’s leadership. But as Xi Jinping’s closest advisor on economic matters, it’s still worth listening to what he has to say. And he still has a lot to say. On Friday, the People’s Daily published a long essay by Liu on supply and demand. TL;DR: The challenges…

Vice Premier Liu He is about to exit China’s leadership. But as Xi Jinping’s closest advisor on economic matters, it’s still worth listening to what he has to say.

And he still has a lot to say.

On Friday, the People’s Daily published a long essay by Liu on supply and demand.
TL;DR: The challenges...

sources

People's Daily: 把实施扩大内需战略同深化供给侧结构性改革有机结合起来（认真学习宣传贯彻党的二十大精神）

November 7, 2022

Go big or go Beidou

Last Friday, the China Satellite Navigation Office (CSNO) unveiled a new white paper on the future of China’s Beidou satellite system. ICYDK: Beidou was developed in the 1990s as an alternative to western networks like GPS. It’s currently on its third generation of satellites, BDS-3. The fin…

Last Friday, the China Satellite Navigation Office (CSNO) unveiled a new white paper on the future of China’s Beidou satellite system.
ICYDK: Beidou was developed in the 1990s as an alternative to western networks like GPS. It's currently on its third generation of satellites, BDS-3.

The fin...

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State Council: 新时代的中国北斗

SCMP: China’s next-gen BeiDou satellites reach for the moon – and your mobile

People's Daily: 新时代的北斗世界一流（权威发布）

November 4, 2022

A new age dawns for pensions

The era of private retirement savings is nigh. On Friday, a bunch of regulators dropped notices on how they plan to approach the roll out of the new personal pension system. ICYMI: In April, the State Council published high-level guidelines kicking off a one-year trial to expand this miniscule segme…

The era of private retirement savings is nigh.
On Friday, a bunch of regulators dropped notices on how they plan to approach the roll out of the new personal pension system.
ICYMI: In April, the State Council published high-level guidelines kicking off a one-year trial to expand this miniscule segme...

sources

Shanghai Securities News: 刚刚发布！关于个人养老金，十大要点，火线解读！全文来了

CBIRC: 中国银保监会就《商业银行和理财公司个人养老金业务管理暂行办法（征求意见稿）》公开征求意见的公告

MoF: 关于个人养老金有关个人所得税政策的公告

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