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Awash in Empty Homes, China Asks Migrant Workers to Settle Down

Migrant workers are the unsung heroes of China’s economic miracle. Numbering more than 270 million, they abandon their impoverished farms and villages to move to the cities, where they run the factories and build the highways and high-rises that have mad ...

Daily Headline - global.abi.org - 03/10/2016 - 00:25 - 0 comments

China to Shift Debt Burden in Tax Overhaul

China’s central government will take over some of local authorities’ debts in a move to help them regain footing and to allow Beijing to cut business taxes, The Wall Street Journal reported. Key to the Chinese leadership’s economic agenda this year i ...

Daily Headline - global.abi.org - 03/07/2016 - 21:38 - 0 comments

China Economic Planner Says Slowdown Isn’t Stunting Global Growth

The head of China’s top economic-planning agency Sunday rejected suggestions the Chinese slowdown was dragging on global growth and markets, saying the world’s second largest economy continues to be a source of demand and vitality, The Wall Street Jour ...

Daily Headline - global.abi.org - 03/06/2016 - 21:11 - 0 comments

China Plans Securitisation To Tackle Banks’ Bad Debt Burden

It looks like subprime derivatives on steroids: China hopes to bundle together billions of dollars’ worth of non-performing loans and eventually sell them to global investors, the Financial Times reported. Such a massive securitisation programme woul ...

Daily Headline - global.abi.org - 03/03/2016 - 22:45 - 0 comments

Moody’s Cuts Outlook On China Government Credit To ‘Negative’

Moody’s, the ratings agency, has cut its outlook on China’s government credit to ‘negative’ from ‘stable’ on the back of a growing debt burden in the world’s second largest economy, and the challenges of reform, the Irish Times reported. In a report ...

Daily Headline - global.abi.org - 03/02/2016 - 21:41 - 0 comments

China’s Central Bank Can’t Shed a Culture of Secrecy

The Chinese central bank, says Gov. Zhou Xiaochuan, is “neither a god nor a magician.” He was responding, in a written interview published by financial magazine Caixin, to complaints that Chinese financial authorities lack the communications skills neede ...

Daily Headline - global.abi.org - 03/01/2016 - 21:18 - 0 comments

Former CEO Of Fraud Scandal-Hit Sino Forest To Restructure China Fishery

The former CEO of fraud scandal-hit Sino Forest Corporation has been named the chief restructuring officer (CRO) of China Fishery Group, according to the company. Paul Jeremy Bough was appointed CRO and executive director of Pacific Andes International H ...

Daily Headline - global.abi.org - 03/01/2016 - 21:27 - 0 comments

China Frees Banks to Boost Lending, in Shift on Yuan Stance

by 0.5 percentage point, freeing up an estimated 700 billion yuan ($107 billion) in funds for banks ...

Daily Headline - global.abi.org - 02/29/2016 - 23:40 - 0 comments

China Halts Overseas Investment Schemes

Beijing has mothballed two pioneering outbound investment schemes, according to people with knowledge of the situation, in its latest bid to stem capital outflows and shore up the renminbi. The halt in the allotment of quotas reflects fears over the mass ...

Daily Headline - global.abi.org - 02/28/2016 - 23:33 - 0 comments

China Urged to Stomach Much Higher Fiscal Deficit

Officials from China’s central bank are urging Beijing to tolerate a sharply higher fiscal deficit to help stabilize growth, in an acknowledgment that a reliance on cheap bank loans has run its course as a way to boost the economy, The Wall Street Jour ...

Daily Headline - global.abi.org - 02/25/2016 - 23:05 - 0 comments

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