A subsidiary of China’s Ping An Insurance failed to repay a roughly $107 million trust product on time, citing the property market crisis and adding that it is suing developer Zhenro Properties with …
PROPERTY
China Feels Boxed In by the U.S. but Has Few Ways to Push Back
China seeks to project military power in the seas around its coastline, yet also faces pressure to mend relations with neighbors for the good of its economy.
China Vanke Downgraded to ‘Junk’ as Property Woes Worsen
China’s real-estate slump shows no signs of abating—and the pain is spreading. Property developer China Vanke, whose largest shareholder is a state-owned subway operator, avoided the worst of the down …
Fitch Cuts China’s Outlook as Real Estate Downturn Hurts Public Finances
KEY TAKEAWAYS Fitch Ratings downgraded China’s economic outlook due to increasing risks to the country’s public finances as it moves away from an economy reliant on property.The downgraded view …
S&P slashes property giant China Vanke’s credit rating to junk
There was more bad news for the battered Chinese property sector on Wednesday, as S&P Global became the last of the major credit rating firms to strip China Vanke , of its investment grade status.
China stocks fall pressured by real estate; HK shares rise
SHANGHAI (Reuters) -China stocks fell on Wednesday, dragged by real estate shares, while Hong Kong shares rose, led by tech stocks. Ratings agency Fitch revised its outlook on China to negative, …
China’s property crisis hits small regional banks harder than big players
In terms of the scale of bad property debts, some institutions saw even larger increases. At the top of the list is Bank of Qingdao, headquartered in Shandong province, near Liaoning, which suffered a …
China’s Economy to Grow 5.3% This Year as Property Sector Stabilizes, Report Finds
China’s economy is set to expand 5.3% this year as the property sector stabilizes and external demand improves, according to the ASEAN+3 Macroeconomic Research Office, helping to lift growth in the …
China’s property development investment down 9 pct in first two months
Investment in property development in China fell 9 percent year-on-year to 1.1842 trillion yuan (about 167 billion U.S. dollars) in the first two months of 2024, the National Bureau of Statistics (NBS …
Country Garden: China property giant suspends shares in Hong Kong
Crisis-hit Chinese property developer Country Garden has suspended trade in its shares on the Hong Kong Stock Exchange after delaying the publication of its annual financial results. The firm said …
Gold scams rising in China as middle-class investors seek safe-haven assets amid weak stock market, property crisis
Gold purchases have soared in China in recent years, with investors seeking safe-haven assets amid the weak stock market and ongoing property crisis, but a number of scams have been reported.
China Property Woes Deepen With Vanke Slump, Country Garden Halt
One of China’s biggest property firms delayed its earnings report while another posted a record profit decline as the nation’s real estate crisis shows no signs of easing.Most Read from BloombergTesla …
Two China Property Giants Lead Drive to Diversify
Some of China’s biggest developers are doubling down on asset management and investment property rather than home building, seeking more stable sources of income as hopes for a turnaround in the …
