The firm defaulted on its debts back in 2021, throwing the country’s whole property market into turmoil. Now the liquidation order is likely to deepen the crisis in the sector, and jolt China’s …
Monthly Archives For January 2024
China Evergrande, World’s Most-Indebted Property Developer, Ordered to Liquidate
China Evergrande Group was ordered to be liquidated by a Hong Kong court, a stunning legal coda for the world’s most-indebted property developer. A wind-up could end up in management being replaced …
Bank of China plans $21 bln bond sales to comply with global capital requirements
BEIJING, Jan 29 (Reuters) – Bank of China Ltd. (601988.SS), opens new tab said it plans to sell up to 150 billion yuan ($21 billion) of loss-absorbing bonds, becoming the nation’s first big state bank…
China small-bank take private offers big relief
Delisting might be the easy way out for China to keep its troubled, small lenders out of the public eye. Bank of Jinzhou , which was rescued by a $1.7 billion bailout from the central…
Bank of China plans $21 billion bond sales to comply with global capital requirements
The lender said it plans to tap both domestic and overseas debt markets to sell a new category of total loss-absorbing capacity (TLAC) bonds, according to a Friday filing with the Shanghai Stock …
Beijing association launches new efforts to promote theater production
Beijing Theater Association announced 24 committee members for its New Art organization. [Photo provided to China Daily] Beijing Theater Association announced its plan for 2024, which will feature exhibitions of theatrical productions, forums, and workshops.
Beijing and Washington make detailed plans for official contacts, collaboration
In the latest dialogue between senior officials of the two sides, Beijing has called on Washington to “support China’s peaceful reunification”, and the two sides made detailed plans and paved the way for official contacts…
China’s strategic $3.5 billion investment in Brazil bolsters BRICS alliance: Details
China has announced a substantial investment of $3.5 billion into Brazil, a fellow BRICS nation. This investment, primarily targeting Brazil’s mining sector, …
China’s luxury market is bouncing back with new areas of opportunity
The mainland China personal luxury market grew by about 12% last year to more than 400 billion yuan ($56.43 billion), according to consulting firm Bain & Company. In all, about half the leading brands …
Covid-19 origins: researchers challenge early paper pointing to Wuhan market epicentre of pandemic
Mathematicians from Germany and Hong Kong say ‘the market is not more likely to be the origin’ when compared to other nearby landmarks, although they do not offer a hypothesis on where the outbreak …
US, China to resume stalled fentanyl talks in Beijing
U.S. and Chinese officials will meet in Beijing Tuesday for their first talks in years to stem the production of ingredients for the drug fentanyl, senior Biden administration officials said.
China plans to merge 3 bad debt asset managers with its largest sovereign wealth fund, state media reports
Beijing pledged last Monday to strengthen the “inherent stability” of its capital markets and improve market confidence.
China’s telecom sector sees steady expansion in 2023
Technicians from China Mobile check a 5G base station in Tongling, Anhui province. [Photo by Guo Shining/for China Daily] BEIJING — China’s telecommunication industry logged steady expansion in 2023, …
