China’s financial firms are trying to get ahead of the traditional year-end scramble for cash, triggering some early signs of pressure in the country’s money market.
FINANCE
Fitch says China’s local government financing vehicles at lower risk of default in 2024
China’s municipalities will see lower default risks at their local government financing vehicles (LGFVs) next year, thanks to a gradual recovery in fiscal revenues and policy support from the central …
China credit warning is well-timed plea for action
It’s a long-running criticism that credit rating agencies are too often too slow to spot a crisis. So their detractors will be unsurprised that Moody’s is only now issuing China with a downgrade …
China state banks selling dollars for second day to support yuan-sources
China’s major state-owned banks were selling U.S. dollars in the onshore spot foreign exchange market for a second day on Wednesday to support the yuan currency, three sources with knowledge of the …
China, US need virtuous financial competition
For China, the intensified international financial competition will increase the risk of disruption to its internal and external economic environment. The country is facing a strategic squeeze that …
Taiwan’s big China ETF bust shows extent of financial decoupling
Taiwan’s economic and financial decoupling from China has deepened with the near-collapse of what was once the world’s largest Chinese bond exchange-traded fund market.
China’s Rising Debt Spurs Moody’s to Lower Credit Outlook
The ratings agency cut its view of the country’s finances to negative, saying it was concerned about the potential cost of local government bailouts.
Bank of China eyes de-dollarization move in Africa, pushing the yuan in a top copper producer
The Bank of China’s office in Zambia is pushing to increase trade using the yuan in Africa’s second-largest copper producer.
Moody’s cuts China credit outlook, warns of lower growth, property crisis
China’s blue-chip stocks slumped to nearly five-year lows on Tuesday amid worries about the country’s growth, with talk of a possible cut by Moody’s denting sentiment during the …
China’s credit rating outlook cut to negative by Moody’s, with concerns raised about the nation’s debt levels
The impact of the property downturn is well under control, the finance ministry said in a statement. The change in Moody’s thinking comes as China’s deepening property rout triggers a shift toward fiscal stimulus, with…
China finance ministry: ‘disappointed’ by Moody’s downgrade of ratings outlook
China’s finance ministry said on Tuesday it is “disappointed” by Moody’s downgrade of the country’s ratings outlook. “Moody’s concerns about China’s economic growth prospects, fiscal sustainability and other aspects are unnecessary,” the ministry said.
COP28: Should India and China benefit from a climate damage fund?
China is the top emitter of greenhouse gases in the world … developing countries would need over $300bn annually to fight climate change. “Loss and damage finance needs are closely connected to our ability to…
China’s Finance Ministry: Economy will maintain its rebound and positive trend
China’s Finance Ministry said in a statement on Tuesday, the “economy will maintain its rebound and positive trend.” Moody’s concerns about China’s economic growth prospects, fiscal sustainability and other aspects are ‘unnecessary’.
