Results for China
- Shanghai Launches Latest Bad Loan Bank
The Shanghai government has approved a city-owned investment company to buy non-performing loans from local banks, state media reported on Friday, becoming the latest Chinese local government bracing for an expected rise in bad debt, Reuters reported. Sh ...
Daily Headline - global.abi.org - 03/06/2014 - 22:40 - 0 comments
- China Targets Spur Speculation of More Credit Loosening
China’s leaders spurred speculation they will allow the country’s $21 trillion debt mountain to inflate after refraining from cutting their annual economic-growth target, Bloomberg News reported. Analysts at Australia & New Zealand Banking Group Ltd. ...
Daily Headline - global.abi.org - 03/05/2014 - 23:20 - 0 comments
- China Property Trust Defaults Forecast as Risks Flagged
China’s property trusts, grappling with repayments equivalent to the size of Puerto Rico’s economy, face rising default risks as a former central bank adviser dubs real estate the biggest threat to the economy, Bloomberg News reported. The trust funds mu ...
Daily Headline - global.abi.org - 03/03/2014 - 22:42 - 0 comments
- Chinese Austerity Campaign Spreads Beyond Ferraris to Funerals
Zhang Hongbao, who’s run a funeral home in Shanghai for more than a decade, says he can’t recall the last time business was so dead, Bloomberg reported. “Government officials don’t dare to spend too much on funerals,” Zhang, owner of Shanghai Funeral Ser ...
Daily Headline - global.abi.org - 03/02/2014 - 19:22 - 0 comments
- China Trust Default Avoided...What Comes Next?
A default of the “Credit Equals Gold #1” trust product has been avoided. What happens in the coming months will either push China closer towards a financial crisis or help it gradually step back from the edge, Forbes reported. The lack of details ...
Resource Article - global.abi.org - 02/27/2014 - 13:13 - 0 comments - 0 attachments
- Bankrupt Solar-Panel Maker Suntech Seeks Protection in U.S.
Suntech Power Holdings Corp., the Chinese solar-panel maker that defaulted on $541 million of bonds, filed for bankruptcy court protection from U.S. creditors as it liquidates in the Cayman Islands, Bloomberg News reported. The company filed its Chapter ...
Daily Headline - global.abi.org - 02/23/2014 - 23:18 - 0 comments
- China Central Bank Drains $7.9 Billion From Money Markets
fell 0.8 per cent on Tuesday after rallying over the past week. The drain follows a jump in bank and ...
Daily Headline - global.abi.org - 02/18/2014 - 22:56 - 0 comments
- Wanxiang Approved to Take Over Hybrid Maker Fisker Auto
China's Wanxiang Group won court approval Tuesday to take over failed luxury hybrid-car maker Fisker Automotive Inc. after successfully outbidding Hong Kong billionaire Richard Li in an auction, The Wall Street Journal reported. Mr. Li's ta ...
Daily Headline - global.abi.org - 02/18/2014 - 22:57 - 0 comments
- China Shadow-Bank Product Defaults As Coal Company Can't Repay
A high-yield investment product backed by a loan to a debt-ridden coal company failed to repay investors when it matured last Friday, state media reported on Wednesday, in the latest sign of financial stress in China's shadow bank sector, Reuters re ...
Daily Headline - global.abi.org - 02/12/2014 - 23:30 - 0 comments
- A Leading Chinese Economist Warns of a Difficult Year and ‘Dead’ Companies
Sounding warnings that could have been made 20 or even 30 years ago, one of China’s most renowned economists said the country’s economy faces a “very difficult” year as it continues confronting a host of problems that have intensified over the past decad ...
Daily Headline - global.abi.org - 02/11/2014 - 23:28 - 0 comments