China’s economic indicators are failing to meet expectations, which some believe shows the pace of economic recovery after the initial waves of Coronavirus …
FINANCE
China’s ABS and RMBS Defaults Improve; Property Market to Watch
Fitch Ratings-Beijing/Hong Kong-20 August 2021: The defaults of Chinese ABS and RMBS improved in 2Q21, while delinquencies remained stable, says Fitch Ratings in a new report. The annualised gross …
Industrial Bank issues China’s first carbon sink loan worth 18m yuan
China’s first carbon sink loan totaling 18 million yuan (about $2.77 million) was issued by the Industrial Bank Co Ltd on Wednesday. The loan was granted to a company managing the coastal wetland in …
China Development Bank
China Development Bank (CDB)’s Foreign-Currency IDRs are equivalent to those of China’s sovereign ratings, and are based on …
Evergrande Pledges to Fix Debt After Rare China Rebuke
China Evergrande Group pledged to fix its debt problems following a rare public rebuke from regulators as the developer struggles to stave off a liquidity crisis.Evergrande said it will do its best to …
China sets yuan mid-point at 4-month low, but basket index advances further
China’s central bank on Friday set its official yuan midpoint at the weakest level in four months to reflect falls in spot prices a day earlier.
China Keeps Benchmark Lending Rates Unchanged
China maintained its benchmark loan prime rates, as widely expected, on Friday. The one-year loan prime rate was maintained at 3.85 …
China markets slump as crackdowns shatter sentiment, ‘herd mentality’ kicks in
The Hang Seng fell 1.8% and its weekly drop of 5.8% was the largest since the height of the pandemic panic in financial markets in March 2020. Stocks in Shanghai also fell, while investors sold…
China Evergrande vows to ‘unwaveringly’ follow Beijing’s orders after being summoned by regulators
Evergrande, China’s biggest home builder, said on Friday morning that it would be “at full stretch and by all means possible” keep operations stable and cut debt in line with Beijing’s wishes.
Evergrande Executives Summoned to Meeting With China’s Financial Regulators
Regulators said the indebted developer needs to resolve its debt issues without destabilizing the property and financial markets.
China’s fiscal revenue up 20% in first seven months
China’s fiscal revenue saw a year-on-year increase of 20% in the first seven months of 2021, official data showed on Thursday. According to data released by the Ministry of Finance, the country’s …
Tencent vows $7.7 billion in boost to Beijing’s wealth redistribution efforts
Chinese digital conglomerate Tencent on Thursday announced a fund to donate 50 billion yuan ($7.7 billion) to “common prosperity,” a day after the country’s president named it a key economic and …
China’s weak consumer spending likely to persist through August, says JPMorgan
Julia Wang of JPMorgan Private Bank says although China’s daily Covid cases are decreasing, it will take time for the numbers to fall to zero. As a result, China’s consumer demand has also taken a…
