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Defaults Remain Rare in China’s Bond Market

China’s bond market may have had a tricky year, with rising borrowing costs and a downturn in new issuance. But there’s one apparent bright spot—fewer bonds are going bad. The number of defaults on Chinese corporate bonds dropped to just 23 in the first ...

Daily Headline - global.abi.org - 07/20/2017 - 21:18 - 0 comments

China's Deleveraging Campaign Takes On Toughest Target Yet

In a related story, Bloomberg News reported that China’s deleveraging campaign is taking on its toughest target yet: the public sector itself. While up to now policy makers have focused on a build-up of liabilities at smaller banks and big private-sector ...

Daily Headline - global.abi.org - 07/20/2017 - 21:20 - 0 comments

China Could Have a Say on Venezuela's Future

More than 7 million Venezuelans went to the polls to vote against President Nicolas Maduro last weekend. But the more consequential opinion on Maduro's future may belong to China, Venezuela's biggest creditor and one of the few likely sources o ...

Daily Headline - global.abi.org - 07/18/2017 - 22:18 - 0 comments

China's Economy Charges On as Officials Target the Risk 'Rhino'

China’s economy grew faster than expected in the second quarter, putting the nation on track to meet its growth target this year and giving backing to officials in their campaign to corral oncoming financial risk, Bloomberg News reported. Data showing th ...

Daily Headline - global.abi.org - 07/17/2017 - 22:21 - 0 comments

Who's Afraid of a Big Bad Bond Bump? (Not China)

equivalent purchase of emerging market sovereign debt would have returned only $9,000, or 0.9 percent. Stocks ...

Daily Headline - global.abi.org - 07/13/2017 - 22:09 - 0 comments

China Central Bank Adviser Calls for Zombie Company Clean-Up Fund

Beijing may currently favour megamergers when it comes to reform of state-owned enterprises, but at least one central bank adviser is suggesting a different approach to dealing with China’s lossmaking zombie companies, the Financial Times reported. I ...

Daily Headline - global.abi.org - 07/12/2017 - 22:41 - 0 comments

Swissport Launches Bond Exchange to Avoid HNA-Triggered Default

Swissport is looking to switch up its bonds to avoid being bumped into a default after being bought by China’s HNA Group last year, in a sign of the growing scrutiny on aggressive Chinese acquisition techniques, the Financial Times reported. China’s ...

Daily Headline - global.abi.org - 07/11/2017 - 21:56 - 0 comments

China's Jiangsu Shagang To Be Largest Shareholder of Dongbei Special Steel

China's Jiangsu Shagang Co Ltd said on Monday it is expected to be the biggest shareholder of debt-strapped Dongbei Special Steel Group after a bankruptcy restructuring process, Reuters reported. Owned by the Liaoning provincial government in the co ...

Daily Headline - global.abi.org - 07/10/2017 - 22:14 - 0 comments

Cosco Shipping Offers $6.3 Billion to Buy Orient Overseas

Cosco Shipping Holdings Co. offered $6.3 billion to acquire the container carrier controlled by former Hong Kong Chief Executive Tung Chee-hwa’s family in a deal that would catapult the mainland Chinese group into world’s third-largest shipping line, Blo ...

Daily Headline - global.abi.org - 07/09/2017 - 22:08 - 0 comments

China Bond Defaults Work Wonders in Introducing Pricing for Risk

Just as global investors get a new channel to access China’s $9.8 trillion onshore bond market, it’s starting to look like one that they might recognize. Gone are the days when China’s corporate debt was all pretty much priced the same, with an implicit ...

Daily Headline - global.abi.org - 07/05/2017 - 22:07 - 0 comments

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