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China Southern Airlines Warns of First Quarter Loss on Weaker Yuan

China's biggest airline by revenue warned it expects to report a first-quarter net loss, the first sign that the recent weakening of the nation's currency is impacting a major industry, The Wall Street Journal reported. China Southern Airli ...

Daily Headline - global.abi.org - 04/15/2014 - 23:13 - 0 comments

China Engineers ‘Potemkin Defaults’ To Mask Debt Reality

In the past two months, China has suffered its first domestic bond default in recent history and a series of small bankruptcies that have some investors fretting the country could face its very own “Lehman moment”, the Financial Times reported. But b ...

Daily Headline - global.abi.org - 04/14/2014 - 21:18 - 0 comments

China Tightens Oversight of Trusts as Default Risk Rises

China’s banking regulator ordered owners of the nation’s 68 trust companies to be prepared to provide funding or sell their stakes as the risk of defaults rises in the $1.9 trillion industry for high-yield investment. The China Banking Regulatory Commiss ...

Daily Headline - global.abi.org - 04/14/2014 - 21:19 - 0 comments

Desperate For Credit, China Importers Default On Soy Cargoes

Chinese importers have defaulted on at least 500,000 tonnes of U.S. and Brazilian soybean cargoes worth around $300 million, the biggest in a decade, as buyers struggle to get credit amid losses in processing beans. Three companies in the eastern provinc ...

Daily Headline - global.abi.org - 04/10/2014 - 21:25 - 0 comments

China's Next Bond Default Looms As Polyester Firm Declares Bankruptcy

A small manufacturer of polyester yarn based in China's wealthy Zhejiang province has declared bankruptcy, threatening its ability to meet an interest payment on a high-yield bond due in July, Reuters reported. Zhejiang Huatesi Polymer Technical Co ...

Daily Headline - global.abi.org - 04/08/2014 - 22:33 - 0 comments

Deadbeat Chinese Shipyards Stick Banks With Default Bill

billion in new orders received last year alone. Buyers pay as much as 80 percent of the purchase price ...

Daily Headline - global.abi.org - 04/06/2014 - 22:30 - 0 comments

Chaori Says Bondholder Seeks to Force Bankruptcy Restructuring

Shanghai Chaori Solar Energy Science & Technology Co., the first Chinese company to default on corporate bonds onshore, said a bondholder is seeking to force it into bankruptcy restructuring, Bloomberg Businessweek reported. The manufacturer received ...

Daily Headline - global.abi.org - 04/06/2014 - 22:31 - 0 comments

China Unveils Mini-Stimulus Measures

China's government, concerned that the economy is faltering, said it would target more spending to boost growth, but it left unanswered a question over whether monetary policy will be eased as well, The Wall Street Journal reported. China's ...

Daily Headline - global.abi.org - 04/02/2014 - 21:57 - 0 comments

China Rating Agencies See Chaori Default As Only A Hiccup

China's rating agencies are likely to keep a long-held assumption of government bailouts built into most ratings despite the country's first domestic bond defaults and warnings from Beijing that there is no blanket guarantee of support, Reuters ...

Daily Headline - global.abi.org - 04/02/2014 - 22:01 - 0 comments

Debt Troubles Within The Great Wall

Is China different? Or must its borrowing binge, like most others, end in tears? This is now a hotly debated topic, the Financial Times reported in a commentary. On one side are those who predict a Chinese “Minsky moment” – a point in the credit cycl ...

Daily Headline - global.abi.org - 04/01/2014 - 23:36 - 0 comments

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