Of the 611 listed little giants that have released their half-year financial reports, more than 90 percent showed profits, according to Choice, a Chinese financial data service firm. Meanwhile, 428 of …
Tagged By banking
China property: tide still against private firms, as regulators urge banks to ramp up financial support to sector, analysts say
Banks have been given some wriggle room to choose who they lend their money to and are likely to prefer larger, state-owned developers, rather than their cash-strapped, privately owned peers, analysts …
How China became the world’s largest debt collector
AidData found that while China is spending about $80 billion annually on lending to low and middle-income countries, the United States is playing catch up. Washington spends approximately $60 billion …
Chinese shadow bank says it has ‘huge’ debt and can’t pay its bills
A major wealth management company in China has told investors it can’t pay all its bills, reigniting fears that the country’s long-running real estate slump may be spilling over into the $3 trillion …
China Seen Holding Key Policy Rate Until 2024, Economists Say
China will likely wait until early next year to cut policy rates to support the economy, though other forms of easing before the end of 2023 via trims to shorter-term rates or reserve ratios are…
Chinese Financial Conglomerate Zhongzhi Has a $31 Billion Problem
China’s Zhongzhi Enterprise Group has at least $31 billion more liabilities than assets and now faces “significant going concern risks,” it said in a letter to investors.
China mulls unsecured working capital loans for property developers – report
China may allow banks to provide unsecured short-term working capital loans to eligible real estate developers, Bloomberg reported citing people familiar with the matter, as part of Beijing’s efforts …
China’s lawmakers issue rare warning over banks’ asset quality due to inflated, inaccurate data
Standing Committee of the National People’s Congress warned some data does not ‘truly reflect the actual situation’ during a meeting last month Preventing and resolving financial risks has been …
China wealth manager Zhongzhi flags insolvency, $64 billion in liabilities
China’s Zhongzhi Enterprise Group, a leading wealth manager, told investors it is heavily insolvent with up to $64 billion in liabilities, threatening to reignite concerns that the country’s property …
Japan’s Mizuho applies to set up securities company in China
Japan’s Mizuho Financial Group has sought to establish a securities company in China, becoming the latest foreign firm to make inroads into China’s onshore securities market with a fully-owned entity.
Troubled Chinese shadow bank Zhongzhi warns it is ‘severely insolvent’ after asset shortfall, failed bailouts
Zhongzhi Enterprise Group, one of mainland China’s largest shadow banks, has warned investors that it is unable to repay its debts, setting off alarm bells in the trust sector which invests a large …
China’s collapsed shadow bank Zhongzhi warns of $41.5 billion debt hole
Zhongzhi and its affiliates had extended loans to troubled developers and snapped up assets from firms like Evergrande. Read more at straitstimes.com.
China wealth manager Zhongzhi flags insolvency, liabilities of $64 billion
China’s Zhongzhi Enterprise Group told investors it is heavily insolvent with liabilities of up to $64 billion, more than double its assets, as one of the country’s leading wealth managers grapples …
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