Signs are growing in China that local government debt burdens are becoming unsustainable. China’s 31 provincial governments have a stockpile of outstanding bonds that’s close to the Ministry of …
Tagged By finance
China Evergrande communicates with Wuhan over repossessed land
Debt-laden developer China Evergrande Group is communicating with a Chinese municipal district in Wuhan City that repossessed 134,500 hectares (332.4 acres) of land formerly held by a unit of the …
Workers protesting over pay dispute at Apple’s Foxconn plant in China beaten by cops
Workers at Foxconn, China’s biggest factory producing Apple’s iPhone, were kicked and clubbed by anti-riot police after staging protests over a pay dispute.
China’s Bank Sector Issued 2.64 Trillion Yuan in Real Estate Development Loans in Jan-Oct
BEIJING (Reuters) – China’s banking sector issued 2.64 trillion yuan ($369 billion) in real estate development loans and 4.84 trillion yuan in mortgage loans from January to October, China’s banking …
Financial sector underpins high-quality cultural development in Beijing
Addressing a parallel session of the Annual Conference of Financial Street Forum 2022, Mo said the cultural industry in China’s capital city is leading the rest of the country thanks to the support …
Chinese banks pledge billions in credit support to help struggling developers after Beijing confirms rescue plan
and the China Banking and Insurance Regulatory Commission (CBIRC) late on Wednesday. The announcement confirmed media reports circulating in the market since November 13 that Beijing had urged …
Beijing Urges Chinese Banks To Offer More Real Estate Loans
Chinese financial authorities on Wednesday urged the country’s banks to facilitate more lending to the real estate sector, in a new attempt at stemming a housing market crisis.
China signals promotion of financial cooperation with foreign firms
“Opening-up has remained China’s fundamental strategy, and our financial industry is ushering in a phase of high-level opening-up,” Guo Shuqing, chairman of the China Banking and Insurance Regulatory …
Three of China’s biggest banks to provide support for property developers
Three of China’s biggest commercial banks have agreed to provide fundraising support to property developers, including industry giant Vanke , in a coordinated effort to support the country’s embattled …
IMF official tells China to drop ‘zero-COVID’ strategy to save its economy
China needs to “recalibrate” its zero-COVID approach if it wants to keep the world’s second largest economy on track as the Yuan plummets and a recession looms warned an IMF official.
GLOBALink | Foreign bankers upbeat on China’s finance market despite challenges
Yi Gang, governor of the People’s Bank of China (PBOC), the country’s central bank, said at the forum that as the Chinese economy is faced with challenges and downward pressure this year, China’s …
China central bank outlines 16 steps to support property industry
China central bank on Wednesday issued a notice outlining 16 steps to support the ailing property industry, including loan repayment extensions, in a major push to ease the deep liquidity crunch which …
China State Council Pledges to Cut Banks’ Reserve Requirement Ratio to Support Economy — WSJ
China’s State Council on Wednesday pledged to support the nation’s economy by measures including cutting banks’ reserve requirement ratio, as the …
