Yet, rather than holding Xi and the Chinese Communist Party accountable, the Biden administration appears to be bending a knee to Beijing once again. Biden welcomed Xi to San Francisco last month, …
Tagged By banking
China’s real estate crisis is coming for its massive shadow banks
Moody’s surprise downgrade of China’s credit outlook this week has reinforced concerns that the crisis in the country’s real estate market is spilling over into the wider economy.
China capable of defusing debt risks, experts say
China is expected to completely defuse hidden local government debt risks in around four to five years, and the debt stress is unlikely to trigger systematic financial risks that would derail China’s …
Assessing the Health of China’s Banking, Property Sectors
Shujin Chen, head of China financial & property research at Jefferies, discusses the prospects for the country’s lenders and property developers. On Wednesday, Moody’s Investors Service cut its …
Moody’s cuts Hong Kong, Macau and bank rating outlooks following China move
Moody’s put Hong Kong, Macau and swathes of China’s state-owned firms and banks on downgrade warnings. Read more at straitstimes.com.
China’s push to internationalize the yuan and reduce dependence on the US dollar is working, economist says
The yuan has seen a boost in the share of global payments using the currency this year, which could be a sign of momentum in the dedollarization trend.
China lays out contrasting vision for financial system, rejects ‘predatory’ Western outlook
In a departure from the West’s view on the role of finance, China has made the case for its own perspective on the industry, primarily as a tool for achieving policy goals and a buttress…
Xi Jinping is asserting tighter control of finance in China
The Communist Party expects banks, pension funds, insurers and other financial organizations in China to follow Marxist principles.
China Year-End Funding Stress Comes Early in Parts of Market
China’s financial firms are trying to get ahead of the traditional year-end scramble for cash, triggering some early signs of pressure in the country’s money market.
Fitch says China’s local government financing vehicles at lower risk of default in 2024
China’s municipalities will see lower default risks at their local government financing vehicles (LGFVs) next year, thanks to a gradual recovery in fiscal revenues and policy support from the central …
China credit warning is well-timed plea for action
It’s a long-running criticism that credit rating agencies are too often too slow to spot a crisis. So their detractors will be unsurprised that Moody’s is only now issuing China with a downgrade …
China state banks selling dollars for second day to support yuan-sources
China’s major state-owned banks were selling U.S. dollars in the onshore spot foreign exchange market for a second day on Wednesday to support the yuan currency, three sources with knowledge of the …
China, US need virtuous financial competition
For China, the intensified international financial competition will increase the risk of disruption to its internal and external economic environment. The country is facing a strategic squeeze that …
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