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Cement Firm Default Shows China More Willing To Let Firms Fail

China Shanshui Cement warned investors it will default on more than $300 million of onshore debt payments due on Thursday and will seek to appoint liquidators, a sign Chinese authorities are more willing to let weak firms fail, Reuters reported. The priv ...

Daily Headline - global.abi.org - 11/30/2015 - 21:10 - 0 comments

Amid China Slowdown, Foreign Creditors Face Bankruptcy Riddle

As China's economy slows and Beijing becomes more relaxed about letting its companies fail, a rising number of foreign bondholders risk being caught up in the country's unpredictable court system, Reuters reported. Last month, solar producer Ba ...

Daily Headline - global.abi.org - 11/30/2015 - 21:11 - 0 comments

China’s ‘National Team’ Owns 6% Of Stock Market

China’s “national team” owns at least 6 per cent of the mainland stock market as a result of the massive state-sponsored rescue effort this year to prop up share prices following the summer equity market crash, the Financial Times reported. One membe ...

Daily Headline - global.abi.org - 11/26/2015 - 21:03 - 0 comments

China Cracks $64 Billion `Underground Bank' Moving Money Abroad

China said it cracked the nation’s biggest “underground bank,” which handled 410 billion yuan ($64 billion) of illegal foreign-exchange transactions, as the authorities try to combat corruption and rein in capital outflows that have hit records this year ...

Daily Headline - global.abi.org - 11/22/2015 - 18:46 - 0 comments

China Has a $1.2 Trillion Ponzi Finance Problem

Chinese borrowers are taking on record amounts of debt to repay interest on their existing obligations, raising the risk of defaults and adding pressure on policy makers to keep financing costs low, Bloomberg News reported. The amount of loans, bonds and ...

Daily Headline - global.abi.org - 11/19/2015 - 21:47 - 0 comments

Shanghai Shoppers: More Cracks In The Recovery

Despite a sharp slowdown in economic growth and the stock market crash, consumers in China’s commercial capital have proven resilient, according to FT Confidential Research, a research service from the Financial Times. A survey of consumers across the ci ...

Daily Headline - global.abi.org - 11/17/2015 - 21:36 - 0 comments

Fear Spreads as China's Finance Firms Face Arrests

The arrests or investigations targeting the finance industry in the aftermath of China’s summer market crash have intensified in recent weeks, creating a climate of fear among China’s finance firms and chilling their investment strategies. At least 16 pe ...

Daily Headline - global.abi.org - 11/17/2015 - 21:36 - 0 comments

China Capital Flows Turn Positive On Improved Renminbi Outlook

Capital flowed into China last month for the first time since an unexpected currency devaluation in August shook investor confidence in the economy, easing fears over financial stability following an unprecedented bout of outflows, the Financial Times ...

Daily Headline - global.abi.org - 11/15/2015 - 23:14 - 0 comments

China Shanshui Says Creditors Demand Repayment

Cash-strapped China Shanshui Cement has received several demands for repayments from creditors, following a default even as it had started winding up proceedings, it said in a stock exchange filing. The default was on a 2 billion yuan bond which was due ...

Daily Headline - global.abi.org - 11/12/2015 - 21:38 - 0 comments

China Shoppers Take Up Baton As Pain Deepens For Old Economy

China’s consumers are gradually picking up the baton from the traditional economic engines of manufacturing and real estate, data released on Wednesday show, as the painful rebalancing process inches ahead, the Financial Times reported. The slowdown ...

Daily Headline - global.abi.org - 11/11/2015 - 18:48 - 0 comments

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