Laos borrowed billions from President Xi Jinping’s administration to finance railways, highways and hydroelectric dams, which has ballooned public debt to over 100% of GDP. Combined with a currency crisis and soaring inflation,
Tagged By banking
China’s 100 Richest 2023: Billionaires Hit By Global Tensions, Domestic Troubles
A volatile year shakes up the ranks of China’s wealthiest as three newcomers debut and 14 climb back onto the list after having previously missed the cut.
Former senior Chinese official urges foreign investors to return, says trade remains ‘ballast’ of US-China ties
Ex-top market regulator Bi Jingquan, who now leads influential think tank, says China still ‘good place’ for investment and jobs and calls on those who left during Covid-19 pandemic to go back and …
Morning Bid: China prices – inflation or disinflation?
Asian markets open on Thursday to a fairly benign global backdrop. U.S. bond yields continue to slide, oil prices are the lowest since July – WTI crude is down 20% from its September peak -…
China’s 2023 growth target within reach -c.bank governor
China is expected to hit its annual gross domestic product growth target this year, and the country must transform its growth model to pursue high-quality and sustainable expansion, the country’s …
China’s Uncomfortable Role As World’s Largest Debt Collector
It remains the world’s single largest official source of international development finance. China’s aid and credit commitments to low- and middle-income countries are now hovering around $80 billion a …
CGTN: China pledges to expand financial openness as economy grows
BEIJING, Nov. 8, 2023 /PRNewswire/ — China’s financial regulators on Wednesday pledged to expand high-level financial openness to attract more foreign investment at the opening ceremony of the 2023 Financial Street Forum in Beijing. This…
‘I was greedy’: compulsive gambler in China spends US$34,000 in 3 months on lottery scratch cards, won once total of US$137
A young woman in China has told how she racked up debts of US$34,000 in just three months buying mainland lottery scratch cards and only ever won once, a solitary US$137.
China’s central bank on hand to support debt-ridden local governments, governor Pan Gongsheng says
People’s Bank of China (PBOC) governor Pan Gongsheng told the Financial Street Forum 2023 in Beijing the debt level of the Chinese government is at the mid-to-lower level internationally.
EU threatens tougher stance on China as concerns over Beijing’s economic policies grow in build-up to summit
Commission head Ursula von der Leyen and other senior officials have hit out at what they say is Beijing’s disruptive influence and unfair trade policies.
China’s measures to shore up its indebted property sector
Chinese authorities have asked Ping An Insurance Group to take a controlling stake in embattled Country Garden , the nation’s biggest private property developer, sources said.
Ping an Loses $2.1 Billion in Market Value, China Property Rallies on Country Garden Rescue Report
However, markets took it as a positive signal for the debt-laden property sector, which has been weighing heavily on the world’s second-largest economy and stirring fears of broader financial system …
U.S. counters China’s Belt and Road with announcement of $553m investment in Sri Lanka port
In a recent report, AidData said the U.S. is catching up with China in terms of development finance after being overtaken by Beijing in terms of total official financial flows to the developing world in…
