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China to Draft Rules to Rein in Asset Management Risks

China’s financial regulators are working together to draft sweeping new rules for the country’s rapidly-expanding asset-management products that aim to make it clear there’s no government guarantees on such investments, according to people familiar with ...

Daily Headline - global.abi.org - 02/21/2017 - 22:12 - 0 comments

Get Ready for China’s Coming Cash Crunch

The Chinese economy seems to have settled into a new normal of slower but still impressive growth, The Wall Street Journal reported. Underneath the apparent calm, however, trouble is brewing. Some of the problems are well known, such as burgeoning de ...

Daily Headline - global.abi.org - 02/21/2017 - 22:16 - 0 comments

China’s January Credit Frenzy Masks Growing Debt Pressure

Another January, another credit blowout. But the month’s record lending activity signals mounting pressure on corporate China to roll over its debt as much as it does confidence in the economy, the Financial Times reported. The People’s Bank of China ...

Daily Headline - global.abi.org - 02/16/2017 - 21:31 - 0 comments

China’s Zombie Province Shows What’s Wrong With Its Bond Market

Nowhere are China’s rusted-out industries worse than in Liaoning, a province that’s slumped into outright recession and where officials have admitted to years of inflating fiscal revenue data, Bloomberg News reported. Liaoning is also a showcase for how ...

Daily Headline - global.abi.org - 02/12/2017 - 21:35 - 0 comments

China’s Global Auto Ambitions Get a Boost as Takata Picks Bidder

A year ago, Ningbo Joyson Electronic Corp. would have been an unlikely name on a shortlist of candidates to rescue Takata Corp., the Japanese air-bag maker that’s behind the biggest safety recall in automotive history. The Chinese components supplier, fo ...

Daily Headline - global.abi.org - 02/05/2017 - 21:38 - 0 comments

Chinese Defaults: Failing Better

A debt default is generally not cause for celebration. Not defaulting, by contrast, should be a good thing. But in China, a lack of defaults has said more about inadequate processes for dealing with failing companies than it does about their financial he ...

Daily Headline - global.abi.org - 02/02/2017 - 21:25 - 0 comments

A Default in China Spreads Anxiety Among Investors

A Chinese phone maker’s failure to repay around $166 million in bonds has rippled through the world’s largest internet investment marketplace, hitting investors who hadn’t even bought the securities, The Wall Street Journal reported. The default, by ...

Daily Headline - global.abi.org - 01/29/2017 - 21:41 - 0 comments

China Faces Political Conflicts In Moves To Cut Debt Burden

Drowning in debt, metals trader Sinosteel Corp. got an unprecedented lifeline last month from the Chinese government " a multibillion-dollar debt-for-equity rescue that could be the first of many for struggling state-owned companies, The New Zeala ...

Daily Headline - global.abi.org - 01/25/2017 - 20:51 - 0 comments

Expect More Forgeries, Fakes in China Debt Market Amid Bond Rout

Forged seals, fake letters, and counterfeit documents. They’re all part of China’s recent spate of fraud coming to light in the country’s $3 trillion corporate debt market amid a rout that has analysts predicting a record number of defaults in 2017, Bloo ...

Daily Headline - global.abi.org - 01/25/2017 - 20:52 - 0 comments

China to Have Fewer Tools to Keep Economy Humming in 2017

The monetary easing and strong property market that buoyed China’s economic growth last year are petering out, leaving policy makers with fewer tools to keep the economy humming steadily in an important political year, The Wall Street Journal reporte ...

Daily Headline - global.abi.org - 01/22/2017 - 19:02 - 0 comments

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