Many are worried that the bankruptcy of Evergrande will trigger a domino effect that extends that crisis from the property to the finance sector.
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China to maintain tough stance against corruption in finance sector: SPP
China’s top procuratorate on Tuesday called for unremitting and across-the-board efforts to crack down on corrupt elements in the finance sector, aiming to fight corruption and forestall financial …
Can China Fix Its Trillion-Dollar Local Debt Crisis?
China has seen the world’s largest infrastructure boom over the past decade, making it one of the primary drivers of the Asian nation’s economic growth. But companies that borrowed money to finance …
China’s yuan faces a cocktail of bearish headwinds even as Beijing scrambles to prop up the currency
China’s currency has more downside ahead, according to JPMorgan strategists. Beijing has attempted to prop up the weakening yuan, but the bank sees reason to stay bearish. “The fundamental case for …
China’s digital economy major driver of 2022 growth, Beijing pledges to seize the opportunity
The internet-based economy was China’s biggest growth driver among its new economic engines last year, official data showed, highlighting Beijing’s push for the digital economy to take over from …
China-based BRICS bank aims to de-dollarize debt by expanding local currency lending
The New Development Bank has plans to expand lending in Brazilian, South African, and Indian currencies, as an alternative to the dollar.
India Sees a Shadow-Banking Boom Despite China’s Funk
Tycoon Ambani’s lending unit gets off the ground with a $19 billion valuation. Bajaj Finance, the current leader, is gunning for 30% growth.
Beijing Hyundai puts Chongqing plant up for sale
Beijing Hyundai Motor has put its Chongqing plant up for sale at a starting price of 3.68 billion yuan ($505 million), as the South Korean automaker rejigs its strategy in China amid fierce price …
China’s $87 trillion banking system in spotlight after rate caution
Market participants have become alarmed in recent weeks over signs that a two-year liquidity crisis among China’s real estate developers is feeding through into the country’s $US2.9 trillion so-called …
China’s rate caution shines light on $56tn banking system
But a subsequent call by the People’s Bank of China for banks to be allowed to make a “reasonable profit” helps explain why smaller-than-expected reductions to core lending rates were unveiled on …
Wall Street Sees No End to Yuan Losses Despite Beijing Pushback
(Bloomberg) — While Beijing moves to stabilize the yuan, Wall Street still sees plenty of room for the Chinese currency to fall. Most Read from Bloomberg Borrowers With $39 Billion in Student Loans …
China’s general public budget revenue up 11.5% in first seven months
BEIJING — China’s general public budget revenue increased 11.5 percent year-on-year to around 13.93 trillion yuan ($1.94 trillion) in the first seven months of this year, official data showed Monday.
China allocates subsidies for autumn grain fertilizer, pesticide sprays
BEIJING — China’s finance ministry has allocated 2.4 billion yuan (about $329.7 million) in subsidies for fertilizers, pesticides and other agricultural sprays to help ensure a bumper harvest of …
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