China’s local governments borrowed heavily to pay down debt last year and face the risk of default. Local government debt rose 10% year-on-year last year, with refinancing issuance accounting for more than 50% of the
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A blizzard threatens to put a chill on the Lunar New Year holiday—and on Beijing’s hopes of boosting the economy
Data from Fliggy, an Alibaba-owned travel platform, reports a five-times increase in bookings for Shanghai and a six-times increase in bookings to Beijing, compared to the previous Lunar New Year …
China’s major state banks defend yuan as stock markets slide – sources
China’s major state-owned banks were heavy sellers of dollars on Wednesday, three people with direct knowledge of their activity said, steadying the yuan as it came under pressure in currency trade as …
Evergrande’s liquidation crisis won’t be China’s ‘Lehman moment,’ China Beige Book CEO says
“China’s non-commercial financial system ensures there won’t be a ‘Lehman Moment’, since the government effectively controls all of the intermediaries in the economy and can force them to continue to …
China warns local govts not to misuse tech innovation funds
China on Wednesday published revised rules on how local governments should manage funds allocated by Beijing for scientific and technological innovation, at a time when local government finances are …
State-backed ‘national team’ of investors piles in to support China stocks
A rescue operation is underway in China’s equity markets with large and unusual flows into blue-chip funds suggesting a plunge by state-backed investors.
Evergrande’s liquidation crisis won’t be China’s ‘Lehman moment,’ China Beige Book COO says
“China’s non-commercial financial system ensures there won’t be a ‘Lehman moment,’ since the government effectively controls all of the intermediaries in the economy and can force them to continue to lend, supply, borrow, etc,” China…
Evergrande Liquidation’s ‘Snowball Effect’: What’s Next For China’s Troubled Real Estate Sector?
Hong Kong court orders liquidation of China Evergrande, biggest real estate developer, sending shockwaves through financial community.
China’s big airlines set for fourth straight lossmaking year
China’s three major airlines are on track to extend a lossmaking streak to a fourth year, as analysts warn that the country’s uncertain economic growth and fewer direct US flights are weighing on …
Swiss bank Lombard Odier cuts China asset allocation amid challenges facing world’s second-biggest economy
Chinese authorities seem unlikely to deliver catalysts that would sustainably reverse negative investor sentiment, senior strategist Homin Lee says. Last week’s market-boosting measures prove …
China issues first development loan under ‘project whitelist’ mechanism – media
The first development loan has been granted under China’s so-called “project whitelist” mechanism, the country’s official Securities Times reported on Wednesday.
China issues 9.34t yuan local gov’t bonds in 2023
[Photo/China News Service] BEIJING — China’s local governments issued new bonds worth around 9.34 trillion yuan ($1.31 trillion) in 2023, data from the Ministry of Finance showed. Of the total, …
China Evergrande’s financial mess isn’t over
Yes, but: There are few precedents for a bankruptcy of this size and complexity in China, and the housing sector is politically sensitive (Chinese homebuyers took the risk of publicly protesting in …
