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Software

December 6, 2021

NDRC proposes 2022 thermal coal contract prices

On Friday, the National Development and Reform Commission (NDRC) officially proposed a thermal coal contract price range of RMB 550-850/ton in 2022. The NDRC announced the proposed range in draft opinions released at the National Coal Trade Fair in Shandong. Important context: Coal prices will conti… Username Password Remember Me Forgot Password

On Friday, the National Development and Reform Commission (NDRC) officially proposed a thermal coal contract price range of RMB 550-850/ton in 2022.
The NDRC announced the proposed range in draft opinions released at the National Coal Trade Fair in Shandong.
Important context: Coal prices will conti...

sources

Caixin: 2022年煤炭长协征求意见内容发布基准价为700元/吨（更新）

EastMoney: 发改委就2022年煤炭长协签订征求意见煤炭长协价定在700元/吨

December 6, 2021

Is this the moment?

Has the moment finally arrived? On Friday, China Evergrande Group said in a statement to the Hong Kong stock exchange that it’s on the brink of default. “In light of the current liquidity status of the Group, there is no guarantee that the Group will have sufficient funds to continue to perform its…

Has the moment finally arrived?
On Friday, China Evergrande Group said in a statement to the Hong Kong stock exchange that it’s on the brink of default.

“In light of the current liquidity status of the Group, there is no guarantee that the Group will have sufficient funds to continue to perform its...

sources

HKEX: Inside Information

Caixin: Update: Government Sends Risk Managers to Evergrande as Default Looms

PBoC: 中国人民银行有关负责人就恒大问题答记者问

CBIRC: 中国银保监会新闻发言人答记者问恒大集团此次未能履行担保义务不会对银行业保险业的正常运行造成任何负面影响

CSRC: 证监会有关负责人就恒大集团风险事件答记者问

December 6, 2021

We care a lot

Following Evergrande’s bombshell, China’s financial regulators issued statements to calm market jitters. Crucially, their statements were less about Evergrande and more about how they’re helping other struggling developers. On Friday, the People’s Bank of China (PBoC) said developers trying to man…

Following Evergrande’s bombshell, China’s financial regulators issued statements to calm market jitters.

Crucially, their statements were less about Evergrande and more about how they’re helping other struggling developers.

On Friday, the People’s Bank of China (PBoC) said developers trying to man...

sources

PBoC: 中国人民银行有关负责人就恒大问题答记者问

CBIRC: 中国银保监会新闻发言人答记者问恒大集团此次未能履行担保义务不会对银行业保险业的正常运行造成任何负面影响

Bloomberg: China Developer Sunshine 100 Defaults on $170 Million of Bonds

HKEX: Inside Information

December 3, 2021

Blockchain meets carbon emissions tracking

On Thursday, AntChain – Ant Group’s blockchain company – announced that it will explore blockchain technology for carbon management in the automotive sector in partnership with State Grid Guanghui Auto Service, an SOE that operates electric vehicle charging stations. The project: The two companies w…

sources

AntChain: 国网广汇与蚂蚁链合作发力新能源产业“碳管理”

December 3, 2021

Beijing launches more e-RMB trials ahead of Winter Olympics

On Thursday, Beijing launched another round of digital RMB trials in preparation for the Winter Olympics. The pilots are focused on everyday small, high-frequency payments such as transport and supermarket transactions. Context: PBoC officials have said they will unveil the e-RMB to the world…

On Thursday, Beijing launched another round of digital RMB trials in preparation for the Winter Olympics.

The pilots are focused on everyday small, high-frequency payments such as transport and supermarket transactions.

Context: PBoC officials have said they will unveil the e-RMB to the world...

sources

Beijing Local Finance Supervision Administration: “京彩惠民生”解锁更多优惠，北京数字人民币试点活动请你打卡

December 3, 2021

Protection of minors online to be further strengthened

On Thursday, the Ministry of Culture and Tourism (MoCT) published “Opinions on Strengthening the Protection of Minors in the Online Cultural Market.” Background: In October, the NPC passed a massive update to the Minors Protection Law, which included a new chapter addressing the protection of k…

On Thursday, the Ministry of Culture and Tourism (MoCT) published "Opinions on Strengthening the Protection of Minors in the Online Cultural Market."
Background: In October, the NPC passed a massive update to the Minors Protection Law, which included a new chapter addressing the protection of k...

sources

Ministry of Culture and Tourism: 文化和旅游部办公厅关于加强网络文化市场未成年人保护工作的意见

December 3, 2021

At first they were afraid, they were petrified

Then, the Ministry of Emergency Management (MEM) and the Ministry of Finance (MoF) held a videoconference on Wednesday to ensure everyone will survive. The ministries agreed (Gov.cn): “[We must] ensure that the people, especially the people affected by disasters, survive the winter safely and in an…

Then, the Ministry of Emergency Management (MEM) and the Ministry of Finance (MoF) held a videoconference on Wednesday to ensure everyone will survive.
The ministries agreed (Gov.cn):

“[We must] ensure that the people, especially the people affected by disasters, survive the winter safely and in an...

sources

Gov.cn: 应急管理部、财政部安排部署全国受灾群众冬春救助工作

Mem.gov.cn: 应急管理部发布2021年前三季度全国自然灾害情况

December 3, 2021

Dong bu dong?

Want to understand China? There’s a conference for that. On Thursday, Xi Jinping gave a video keynote to open the 2021 “Understanding China” International Conference in Guangzhou. For those who bu dong: The conference was launched in 2013 to help the world understand China’s development. …

Want to understand China? There’s a conference for that.
On Thursday, Xi Jinping gave a video keynote to open the 2021 "Understanding China" International Conference in Guangzhou.
For those who bu dong: The conference was launched in 2013 to help the world understand China’s development.
...

sources

Gov.cn: 习近平向2021年“读懂中国”国际会议（广州）开幕式发表视频致辞

December 3, 2021

Leadership ponders growth target for 2022

It’s that time of year. China’s policymakers are gearing up for the annual Central Economic Work Conference (CEWC), which will be held in mid-December. Some context: The CEWC sets top line economic targets and goals for the year ahead. As always, the big question is: Where will China’s leaders set t…

It’s that time of year.
China’s policymakers are gearing up for the annual Central Economic Work Conference (CEWC), which will be held in mid-December.
Some context: The CEWC sets top line economic targets and goals for the year ahead.
As always, the big question is: Where will China’s leaders set t...

sources

Reuters: China advisers to recommend lower 2022 GDP target as headwinds grow - sources

December 3, 2021

Alipay tears down last brick in wall with UnionPay

On Friday, Alipay announced that their platform now fully supports UnionPay as a payment method for merchants and consumers. Some background: UnionPay is an SOE that provides the vast majority of bank cards in China. However, the advent of digital payment methods like Alipay has undermined use of…

On Friday, Alipay announced that their platform now fully supports UnionPay as a payment method for merchants and consumers.
Some background: UnionPay is an SOE that provides the vast majority of bank cards in China.

However, the advent of digital payment methods like Alipay has undermined use of...

sources

Sina: 28家银行、支付APP可扫支付宝收款码支付宝与银联全国扫码互认

December 3, 2021

Help us US business lobby, you’re our only hope

Sometimes you just need a buddy to put in a good word. On Thursday, Vice Premier Hu Chunhua presided over a dialogue symposium with foreign-invested enterprises. Hu appeared anxious to prove that China will become more hospitable to foreign business (Xinhua): “He urged more efforts to respond to th…

Sometimes you just need a buddy to put in a good word.
On Thursday, Vice Premier Hu Chunhua presided over a dialogue symposium with foreign-invested enterprises.
Hu appeared anxious to prove that China will become more hospitable to foreign business (Xinhua):

“He urged more efforts to respond to th...

sources

Xinhua: Chinese vice premier stresses strengthening support for foreign enterprises

MoFA: Vice Foreign Minister Xie Feng Holds a Virtual Dialogue with Representatives from the U.S. Business Community and States and Cities

MoFA: 把握机遇，维护和推进中美经贸合作与地方交流

December 3, 2021

Didi’s NYSE delisting opens a can of worms

Today, Didi announced on Weibo that the board had approved the company’s delisting from the New York Stock Exchange. The company will also pursue a re-listing in Hong Kong. Some context: Bloomberg reported last week that the Cyberspace Administration of China (CAC) was pressuring the ri…

Today, Didi announced on Weibo that the board had approved the company's delisting from the New York Stock Exchange.

The company will also pursue a re-listing in Hong Kong.

Some context: Bloomberg reported last week that the Cyberspace Administration of China (CAC) was pressuring the ri...

sources

DiDi Weibo account: 经认真研究，公司即日起启动在纽交所退市的工作，并启动在香港上市的准备工作。

DiDi corporate: DiDi Announces Recent Developments

Caixin Global: Ride-Hailing Giant Didi to Delist From New York Stock Exchange

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