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ICBC's Quarterly Profit Rises as Bad-Loan Ratio Stabilizes

Industrial & Commercial Bank of China Ltd., the world’s largest lender by assets, reported its strongest quarterly profit growth in two years as soured credit and lending margins stabilized amid an uptick in the economy, Bloomberg News reported. Net ...

Daily Headline - global.abi.org - 04/30/2017 - 21:49 - 0 comments

Bond Buyers Blacklist Some Chinese Provinces After Run of Defaults

Investors are becoming more discerning when it comes to the origin of Chinese debt, Bloomberg News reported. China saw its worst start to a year on record for corporate defaults, with companies headquartered in two eastern provinces -- Liaoning and Shand ...

Daily Headline - global.abi.org - 04/26/2017 - 20:48 - 0 comments

Kaisa Group’s Recovery Suggests Investors Have Selective Memories

Executives at Kaisa Group Holdings, the first Chinese property developer to default on an overseas bond, have had a busy few weeks, the Financial Times reported. Since trading of the company’s Hong Kong-listed shares resumed on March 27 after a two-y ...

Daily Headline - global.abi.org - 04/25/2017 - 21:34 - 0 comments

Chongqing Steel Warns Of Bankruptcy After Creditor Goes To Court

China's debt-stricken Chongqing Iron and Steel Company warned of the risk of bankruptcy on Tuesday, after one of its creditors submitted an application to a local court to reorganise its assets, Reuters reported. Chongqing Steel said in a notice pos ...

Daily Headline - global.abi.org - 04/25/2017 - 21:38 - 0 comments

China's Hidden Debt Stirs Investor Angst as Local Defaults Rise

Rising defaults in China are unearthing hidden debt at companies across the country, Bloomberg News reported. Small firms that can’t get loans by themselves have been winning banks over by getting other companies to guarantee their borrowings. The compan ...

Daily Headline - global.abi.org - 04/24/2017 - 20:30 - 0 comments

Lou Says China Should Let Local Governments Default on Debt

Former Finance Minister Lou Jiwei said China should allow smaller local governments to default on debt because it would signal that central government bailouts aren’t assured, Bloomberg News reported. Such defaults would educate investors that their inve ...

Daily Headline - global.abi.org - 04/23/2017 - 19:00 - 0 comments

China Bond Party Attracts Few Takers

China is engaged in a charm offensive to lure foreign money into its bond market, which has grown in a short period of time from a minnow to the third largest in the world, after the US and Japan, the Financial Times reported. The opening of the bond ...

Daily Headline - global.abi.org - 04/20/2017 - 21:38 - 0 comments

China's $8.5 Trillion Shadow Bank Industry Is Back in Full Swing

China’s shadow banking is back in full swing, an unintended side effect of the government’s campaign against financial leverage, which has curbed traditional lending and squeezed bond financing. Data from the central bank Friday showed that off-balance s ...

Daily Headline - global.abi.org - 04/18/2017 - 22:17 - 0 comments

China Bank Overseer Launches ‘Regulatory Windstorm’

China's new chief banking regulator has started with a bang, issuing a flurry of new policy directives during his first month aimed at the industry's knottiest problems, in line with the government’s focus this year on managing financial risk, ...

Daily Headline - global.abi.org - 04/18/2017 - 22:18 - 0 comments

The Danger in China’s Dual Debt Cycle

Predicting the evolution of corporate debt cycles is always tricky. In China it’s doubly hard—because there are two cycles in process. Most concern about the speedy rise of credit across China’s economy is focused on the sheer scale of corporate leverage ...

Daily Headline - global.abi.org - 04/18/2017 - 22:18 - 0 comments

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