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China Steel Firm Kingtec Facing Bankruptcy Amid Debt Pressures

Kingtec Steel Corporation, based in China’s far northwestern region of Xinjiang, is preparing to apply for bankruptcy as a result of spiraling debt, the company said in a statement on Friday. Kingtec said it would be unable to pay all of its debts, inclu ...

Daily Headline - global.abi.org - 05/21/2018 - 00:07 - 0 comments

J&T Private Investments Says Takes Over Shareholder Rights in CEFC Europe

Creditor J&T Private Investments (JTPI) said on Thursday it had taken over shareholder rights and installed crisis management at CEFC Europe, the Czech-based part of troubled Chinese conglomerate CEFC China Energy, Reuters reported. The move is a sig ...

Daily Headline - global.abi.org - 05/17/2018 - 23:13 - 0 comments

China’s Vanished Current-Account Surplus Will Change the World Economy

Not long ago China was a leading culprit in global economic imbalances. Whether blame was ascribed to its undervalued yuan or its frugal people, the problem seemed clear. China was selling a lot abroad and buying too little back, The Economist report ...

Daily Headline - global.abi.org - 05/17/2018 - 23:17 - 0 comments

China's Stock Exchanges Tighten Supervision on Booming ABS Market

China's stock exchanges have stepped up their scrutiny of the booming asset-backed securities (ABS) market, publishing new rules that require prompt information disclosure and risk management updates from issuers, the International New York Times ...

Daily Headline - global.abi.org - 05/14/2018 - 00:58 - 0 comments

China Is Said to Probe Funds' Risk Controls as Defaults Rise

With corporate-debt defaults on the rise, China’s securities regulator will probe bond funds to ensure that they have proper risk controls in place, according to people familiar with the matter. The China Securities Regulatory Commission’s investigation ...

Daily Headline - global.abi.org - 05/11/2018 - 00:36 - 0 comments

With Jail Sentences and Corporate Flameouts, China Is Tackling its Debt

A Shanghai court imprisoned a tycoon who used a mountain of debt to buy the Waldorf Astoria hotel. Small Chinese companies are increasingly saying they cannot repay their bills, as money gets more expensive or harder to find, the International New York ...

Daily Headline - global.abi.org - 05/11/2018 - 00:46 - 0 comments

China Credit Spreads Near 2-year Highs on Default Worries

China credit spreads hit their widest level in nearly two years this week following new regulations that undermined long-held assumptions about implicit guarantees on debt linked to local governments, the Financial Times reported. Chinese localities ...

Daily Headline - global.abi.org - 05/09/2018 - 22:22 - 0 comments

China announces new measures and timeline on the further opening-up of financial sectors

On 11 April 2018, Mr. Yi Gang, the new governor of the People’s Bank of China, spoke at a sub-forum “Normalization of Monetary Policy" during the Boao Forum for Asia Annual Conference 2018 and announced a number of measures and timeline on more fina ...

Resource Article - twallace@abiwor... - 05/08/2018 - 12:17 - 0 comments - 0 attachments

Small Regional Banks are Weak Links in China’s Financial System

In the event of a shock to China’s economy, problems are likely to emanate from a set of small banks with poor financials and a loan book exposure to China’s weakest provincial economies, the Financial Times reported in a commentary. In the wake of t ...

Daily Headline - global.abi.org - 05/01/2018 - 22:59 - 0 comments

China Updates Financial Court System as Cases Grow More Complex

China is setting up a special court in Shanghai to deal with the complex financial cases that are rising apace with the deepening of the country’s financial system, The Wall Street Journal reported. The Shanghai Financial Court is expected to start o ...

Daily Headline - global.abi.org - 04/29/2018 - 22:12 - 0 comments

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