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Suitcases of Cash: Chinese Travel Data Hint at Outflow

The explosive growth of spending overseas by Chinese tourists dwarfs the increase in the number of Chinese traveling abroad. The most likely reason? Disguised capital outflows, Bloomberg News reported. So says former U.S. Treasury official Brad Setser, w ...

Daily Headline - global.abi.org - 09/21/2016 - 22:06 - 0 comments

The First Really Meaningful And Massive Chinese Bankruptcy Has Arrived

According to the Chinese business publication Caixin, the first of China's massive state-owned organizations has collapsed under the weight of $2.2 billion worth of bad debt in China's interbank bond market. The company, Guangxi Nonferrous Meta ...

Daily Headline - global.abi.org - 09/21/2016 - 22:06 - 0 comments

Court In China Declares State-Run Metals Firm Bankrupt

A court in southern China has formally declared bankrupt Guangxi Nonferrous Metals Group Co Ltd, an unlisted state-run metals producer that defaulted on a bond in February and missed a payment in April, Reuters reported. The firm, which is owned by the G ...

Daily Headline - global.abi.org - 09/20/2016 - 22:15 - 0 comments

China Property Developers May Issue $150 Billion In Bonds In 2016

China's listed property developers issued 960 billion yuan (110.8 billion pounds) in bonds as of Sept. 19, more than three times the amount in the same period last year, financial magazine Caixin reported, citing data from WIND, a Chinese financial ...

Daily Headline - global.abi.org - 09/20/2016 - 22:16 - 0 comments

China Outlines Rescue Plan For Bohai Steel

The Chinese coastal city of Tianjin plans to issue corporate bonds to ease the debt burden of a local state-owned steelmaker — in a flagship case of restructuring in the domestic industry, the Financial Times reported. Tianjin’s city government has f ...

Daily Headline - global.abi.org - 09/19/2016 - 19:44 - 0 comments

Global Watchdog Warns Over China’s Debt Levels

China’s debt has grown to alarming levels, according to new data from the Bank for International Settlements that highlight a big potential risk to the global economy, the Financial Times reported. What the BIS terms the country’s “credit gap” is now ...

Daily Headline - global.abi.org - 09/19/2016 - 19:45 - 0 comments

Warning Indicator for China Banking Stress Climbs to Record

A warning indicator for banking stress rose to a record in China in the first quarter, underscoring risks to the nation and the world from a rapid build-up of Chinese corporate debt, Bloomberg News reported. China’s credit-to-gross domestic product “gap” ...

Daily Headline - global.abi.org - 09/18/2016 - 17:14 - 0 comments

China's Housing Gets Scarily Expensive

For many years, China's authorities took a Goldilocks approach to housing prices: They wanted a market that was neither too hot nor too cold, and took measures as needed to control prices. Although an explicit asset-price target was never announced, ...

Daily Headline - global.abi.org - 09/15/2016 - 21:50 - 0 comments

Chinese Debt Soars Into Space

Since China was the first country to use paper money it shouldn’t be a surprise that it was also guilty, earlier than most, of monetary recklessness, The Wall Street Journal reported. When Marco Polo visited China in the 13th century, notes the Corne ...

Daily Headline - global.abi.org - 09/13/2016 - 20:43 - 0 comments

Strong China Data Relieve Pressure For Stimulus

China's economic growth accelerated in August, a batch of data showed on Tuesday, relieving pressure on policymakers to boost stimulus and assuaging fears of a sharp slowdown that would drag down global growth, the Financial Times reported. Indu ...

Daily Headline - global.abi.org - 09/13/2016 - 20:45 - 0 comments

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