Ep 53 - Financial regulators start 2026 with a bang + Beijing’s view on the Meta-Manus deal

China’s financial regulators have started 2026 with a flurry of activity.

• On January 14, the securities regulator raised margin requirements on stock trading in a bid to cool investors’ exuberance.
• The following day the central bank expanded a bunch of its relending facilities, and cut the interest rate on all of its structural lending tools.
• Then on January 20, the finance ministry rolled out a bunch of measures designed to bolster investment by small, private sector firms.

What’s driving this hyperactive policymaking? That’s what Trivium Co-founder Andrew Polk and Dinny McMahon, Head of Markets Research, discuss on the first Trivium podcast of 2026.

They look at:

• How weak Q4 economic data has lit a fire under regulators
• Why authorities have settled on this particular combination of policies
• And what signals Beijing is trying to send markets

But wait, there’s more! On the second half of the pod, Andrew is joined by a new guest to the podcast, Trivium’s lead AI and semiconductor analyst Linghao Bao. Linghao joins to discuss:

• Beijing’s intervention in Meta’s recently announced acquisition of Chinese AI start-up Manus
• The specific regulatory tools China is using to slow – or maybe even stop – the deal
• The wider implications for China’s AI start-up ecosystem

The gents cover a lot of ground in this one – enjoy!