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.
Tagged By banking
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…
Bank of East Asia half-year profit surges 75 per cent as impairment costs decline and China, Hong Kong economies recover
Bank of East Asia said it would pay an interim dividend of 35 HK cents a share as its first-half results benefited from an improving economic outlook.
Alibaba Sinks to Record Low as China Plans Further Crackdown
Alibaba Group Holding Ltd. shares slumped as much as 4.3% to a record low in Hong Kong on Thursday, extending a selloff in Chinese technology giants after Beijing hit the industry with a fresh round…
China sets firmer yuan midpoint fix, pushing basket index to 5-1/2-year high
China’s central bank set its official yuan midpoint slightly higher on Thursday, lifting its value against the currencies of its major trading partners to a fresh 5-1/2-year high. The People’s Bank of …
China Huarong Gets State-Led Bailout After Record 2020 Loss
Government-backed investors will recapitalize China Huarong Asset Management Co. after the bad-debt manager posted a record $15.9 billion loss, ending months of speculation over whether Beijing would …
Biggest financial risks tackled to ensure recovery
China will step up efforts to address major financial risks to ensure a stable recovery as growth momentum softens amid rising economic challenges, experts said on Wednesday. Their comments came after …
China’s Jan-July fiscal revenues up 20per cent yr/yr – state media
China’s fiscal revenues grew 20per cent in the first seven months of 2021 from a year earlier, state media quoted vice finance minister Xu Hongcai as saying on Wednesday.China’s fiscal expenditures …
Baidu Sells $1 Billion of Bonds Amid China Tech Crackdown
Baidu Inc. sold $1 billion of bonds in a two-part sustainable deal, according to people familiar with the matter, marking the first major global debt offering by a Chinese tech firm since Beijing …
China lures Western fund managers to tackle looming pensions crisis
The country’s ageing population is set to fuel a boom in wealth management as more workers seek to hand over their extensive pool of savings …
