China will let local governments raise about 1 trillion yuan ($140 billion) through bond sales to repay the debt of local-government financing vehicles (LGFVs) and other off-balance-sheet issuers, Bloomberg News reported on Friday.
Tagged By financials
China Property Market In Turmoil: PENNY! Real Estate Firm Country Garden Holdings Shares Nosedive, Becomes Penny Stock | KNOW REASON
Country Garden Holdings Co., formerly the largest property developer in China in terms of sales, has seen its fortunes take a drastic turn as it faces intensified scrutiny over its operations and growing concerns about…
For China’s Economy, a Crisis of Confidence
As former Chinese Premier Wen Jiabao aptly pointed out during the 2008 global financial crisis, “In times of economic turmoil, confidence is more precious than gold or currency.” Fast forward to today, and China is…
China July New Bank Loans Tumble, Credit Growth Weakens Further
While lending in China typically tends to fall back in July for seasonal reasons, the weak credit readings come days after other grim data which showed the world’s second-largest economy slipped into …
China’s July new bank loans tumble to 345.9 billion yuan, well below forecasts
Chinese banks extended 345.9 billion yuan ($47.80 billion) of new yuan loans in July, tumbling from June and falling far short of analysts’ forecasts.Analysts polled by Reuters had expected new loans …
China Development Bank issues emergency loans to flood-hit regions
BEIJING – The China Development Bank, one of the country’s policy banks, has issued emergency loans worth 865 million yuan ($120.83 million) to North China’s Beijing, Tianjin and Hebei that were …
China’s Madoff economy could come crashing down — with worldwide effect
Not so long ago, China’s economy was known on Wall Street as the Madoff economy. Like the infamous Bernie Madoff, who fictitiously reported stellar returns each year no matter what really happened to …
China loosens its pandemic-era ban on citizens joining group tours abroad
China has lifted pandemic-era restrictions on group tours for more countries, including key markets such as the United States, Japan, South Korea and Australia in a potential boon for their tourism …
China allocates 1.5 bln yuan to repair damaged water conservancy facilities
BEIJING, Aug. 10 (Xinhua) — China on Thursday earmarked 1.5 billion yuan (about 209.57 million U.S. dollars) for repairs to damaged water conservancy facilities in areas severely affected by Typhoon …
Asian Infrastructure Investment Bank too intertwined with Beijing, former communications head says
Canada has halted activity with the bank, but its former director general of communications says Ottawa should leave the institution …
China’s top graft-buster says it detained hundreds of SOE officials in first half of 2023
Number of state-owned enterprises investigated ‘significantly increased’ from same period last year, CCDI says.
China’s International Economic Strategy: Give Me Your Assets, and You Can Have My Yuan
China may be able to displace the dollar and get the critical minerals it wants, all at once, writes Leslie Lipschitz.
China snaps 2023 debt outflow streak as emerging markets shine in July -IIF
data from the Institute of International Finance (IIF) showed on Thursday. Inflows were less than a third of the $10.6 billion poured into Chinese bonds in December as China geared up to lift nearly …
