A Hong Kong court ordered China Evergrande, the world’s most heavily indebted real estate developer, to undergo liquidation following a failed effort to restructure $300 billion owed to banks and bondholders.
Tagged By banking
China’s Property Bubble Bursts: Evergrande’s Liquidation Shakes Global Markets
The fall of Evergrande not only symbolizes the fragility of China’s property market but also poses serious questions about the future of the nation’s economic stability. The descent of Evergrande into financial turmoil is a…
China’s Property Boom Goes Bust
Some analysts have called it China’s “Lehman Brothers moment” in a nod to the U.S. financial crisis of 2008. “It is time for the court to say enough is enough,” Hong Kong Justice Linda Chan…
China Evergrande Ordered to Liquidate After Failing to Reach Creditors’ Deal — Update
By Jiahui Huang China Evergrande Group was ordered to liquidate after the indebted property developer failed to reach a restructuring deal with
China removes state media article on plans to merge bad debt asset managers with sovereign wealth fund
The initial plan to put China Cinda Asset Management, China Orient Asset Management and China Great Wall Asset Management under the management of China Investment Corp would reportedly happen “in the …
Beijing’s support aside, Hong Kong must shine as a financial hub
The central government may have stepped in to defend markets but Hong Kong needs to show its ability to fend off regional challengers, such as by tapping its Middle East and belt and road connections…
China Removes Article on ‘Merger’ of Bad-Debt Managers With CIC
Bloomberg News reported in May last year that China was considering transferring the state’s stakes in the three bad debt managers to Central Huijin Investment Ltd., a unit of CIC. The Ministry of …
Bank of China plans $21 bln bond sales to comply with global capital requirements
BEIJING, Jan 29 (Reuters) – Bank of China Ltd. (601988.SS), opens new tab said it plans to sell up to 150 billion yuan ($21 billion) of loss-absorbing bonds, becoming the nation’s first big state bank…
China small-bank take private offers big relief
Delisting might be the easy way out for China to keep its troubled, small lenders out of the public eye. Bank of Jinzhou , which was rescued by a $1.7 billion bailout from the central…
Bank of China plans $21 billion bond sales to comply with global capital requirements
The lender said it plans to tap both domestic and overseas debt markets to sell a new category of total loss-absorbing capacity (TLAC) bonds, according to a Friday filing with the Shanghai Stock …
China to merge three major asset managers into China Investment Corp -Xinhua
Orient Asset Management and Great Wall Asset Management into China Investment Corp (CIC), state-run Xinhua Finance News reported on Sunday citing unidentified industry insiders. The merger is part of …
China tightens securities lending rule to support stock market
Strategic investors won’t be allowed to lend out shares during agreed lock-up periods, the Shanghai Stock Exchange and Shenzhen Stock Exchange said in separate releases following the China Securities …
China’s securities regulator suspends lending of restricted shares
China’s Securities Regulatory Commission (CSRC) has suspended lending restricted shares, effective January 29. This decision came after significant market declines and aimed to foster a more equitable …
