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China Pension Reform Targets Civil Servant Privileges

China’s 40m public sector employees are to lose their exemption from paying into the state pension system, as the government looks to curb public outrage over excess benefits for civil servants, the Financial Times reported. China’s dual-track urban ...

Daily Headline - global.abi.org - 01/16/2015 - 01:39 - 0 comments

China Regulators Watching Online Loans as Risks Multiply

Rising failures in China’s peer-to-peer lending industry may pressure authorities to regulate a segment of Internet finance that almost quadrupled in size last year, Bloomberg News reported. The number of platforms that went bankrupt or had difficulty re ...

Daily Headline - global.abi.org - 01/14/2015 - 22:14 - 0 comments

Kaisa Default Risks Waking China Property Bears

For China’s property market bears, the default by a Hong Kong-listed developer on its US dollar bonds looks like the canary in the coal mine. More are likely to follow, they argue, as the great unravelling of the heavily indebted and chronically oversupp ...

Daily Headline - global.abi.org - 01/13/2015 - 21:34 - 0 comments

China Developer Kaisa's Bonds Jump But Tough Battle Ahead For Offshore Creditors

Bonds issued by Kaisa Group rose sharply on Tuesday after the embattled Chinese property developer said it had received a waiver from HSBC Holdings on a loan it failed to repay late last month. Kaisa, which has been struggling with the departure of senio ...

Daily Headline - global.abi.org - 01/13/2015 - 01:41 - 0 comments

China Wants Taxes Paid by Citizens Living Afar

As Chinese individuals and companies head overseas in greater numbers, the country’s tax authorities are starting to follow, the International New York Times reported. The Beijing billionaires who set up cryptically named companies in the British Vir ...

Daily Headline - global.abi.org - 01/07/2015 - 22:40 - 0 comments

China Developer Kaisa’s Bonds Plunge After Loan Default

Bonds of Kaisa Group Holdings Ltd., a developer based in the southern Chinese city of Shenzhen, plunged to record lows after the resignation of its chairman triggered a default on one of its loans, Bloomberg News reported. The developer’s $800 million of ...

Daily Headline - global.abi.org - 01/04/2015 - 22:13 - 0 comments

China Zombie Factories Kept Open To Give Illusion Of Prosperity

In the shadow of a group of enormous smokestacks and abandoned foundries, a peeling sign welcomes visitors to the Wenxi Steel Industrial Park. But in the nearby village, the working-age men and many of the women have gone, leaving only the elderly and th ...

Daily Headline - global.abi.org - 12/28/2014 - 20:43 - 0 comments

China’s Migrant Workers Struggle for Pensions

In a gritty industrial park here, 59-year-old Zhou Shoufang is leading hundreds of co-workers in a fight for pension benefits at a toy factory, The Wall Street Journal reported. Mr. Zhou is part of China’s first generation of migrant workers, people ...

Daily Headline - global.abi.org - 12/28/2014 - 20:45 - 0 comments

China’s Housing Resists Efforts to Spur Market

Every urban real estate market is different in mainland China, driven by myriad municipal and provincial regulations and the varying strength of local economies. But the outcome is the same: The property market is under serious pressure, the Internatio ...

Daily Headline - global.abi.org - 12/18/2014 - 23:19 - 0 comments

Beijing Cannot Count On Easy Money To Sustain Its Economic Miracle

Showing classic symptoms of a mania, Chinese investors are borrowing heavily to buy stocks and flipping them quickly, the Financial Times reported in a commentary. On average, they are holding them for barely two weeks, compared with four months in t ...

Daily Headline - global.abi.org - 12/16/2014 - 23:57 - 0 comments

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