The unexpected appointment makes him the first official to lead a top Communist Party organisation that would typically be chaired by Chinese president Analysts say decision might be driven by shifts …
FINANCE
China’s new forex party chief will oversee US$3 trillion in reserves while trying to stabilise the yuan
Zhu Hexin’s political pedigree is a bit different than some of his predecessors, starting with a factory job and working his way to the upper echelon of Chinese finance Appointment comes as Beijing …
Beijing positive on HK’s economic outlook: chambers
Beijing has expressed full confidence in Hong Kong’s economic and investment outlook and has again given assurances that the city’s governing …
China weighs unprecedented builder support with first-ever unsecured loans
Authorities are finalising a draft list of 50 developers eligible for financial aid that includes Country Garden Holdings Co. and Sino-Ocean Group.
China wealth manager Zhongzhi flags insolvency, $64 bln in liabilities
China’s Zhongzhi Enterprise Group, a leading wealth manager, told investors it is heavily insolvent with up to $64 billion in liabilities, threatening to reignite concerns that the country’s property …
China’s ‘little giant’ firms inject new impetus into economy
Of the 611 listed little giants that have released their half-year financial reports, more than 90 percent showed profits, according to Choice, a Chinese financial data service firm. Meanwhile, 428 of …
China property: tide still against private firms, as regulators urge banks to ramp up financial support to sector, analysts say
Banks have been given some wriggle room to choose who they lend their money to and are likely to prefer larger, state-owned developers, rather than their cash-strapped, privately owned peers, analysts …
How China became the world’s largest debt collector
AidData found that while China is spending about $80 billion annually on lending to low and middle-income countries, the United States is playing catch up. Washington spends approximately $60 billion …
Chinese shadow bank says it has ‘huge’ debt and can’t pay its bills
A major wealth management company in China has told investors it can’t pay all its bills, reigniting fears that the country’s long-running real estate slump may be spilling over into the $3 trillion …
China Seen Holding Key Policy Rate Until 2024, Economists Say
China will likely wait until early next year to cut policy rates to support the economy, though other forms of easing before the end of 2023 via trims to shorter-term rates or reserve ratios are…
Chinese Financial Conglomerate Zhongzhi Has a $31 Billion Problem
China’s Zhongzhi Enterprise Group has at least $31 billion more liabilities than assets and now faces “significant going concern risks,” it said in a letter to investors.
China mulls unsecured working capital loans for property developers – report
China may allow banks to provide unsecured short-term working capital loans to eligible real estate developers, Bloomberg reported citing people familiar with the matter, as part of Beijing’s efforts …
China’s lawmakers issue rare warning over banks’ asset quality due to inflated, inaccurate data
Standing Committee of the National People’s Congress warned some data does not ‘truly reflect the actual situation’ during a meeting last month Preventing and resolving financial risks has been …
ADVERTISEMENT
