Results for China
- First China Default Seen as Record $427 Billion Debt Due
Chinese company debt twice the size of Ireland’s economy will come due in 2014, spurring concern the nation is on the cusp of its first corporate bond default, Bloomberg reported. A record 2.6 trillion yuan ($427 billion) of interest and principal on sec ...
Daily Headline - global.abi.org - 12/09/2013 - 23:46 - 0 comments
- Creditors Of Suntech's Main Unit Back Debt Restructuring Plan
Creditors of the main unit of Chinese solar panel maker Suntech Power Holdings Co Ltd on Tuesday approved a plan to restructure its $1.75 billion debts with proceeds from acquirer Hong Kong-listed Shunfeng Photovoltaic International Ltd., Reuters reporte ...
Daily Headline - global.abi.org - 11/12/2013 - 22:32 - 0 comments
- Suntech Says U.S. Bankruptcy Could Derail Restructuring
are a “tiny minority,” holding only 0.27 percent of the company’s outstanding debt, Suntech said in ...
Daily Headline - global.abi.org - 11/07/2013 - 22:38 - 0 comments
- Solar Company Suntech Takes Step Towards Final Wind-Down
China's Suntech Power Holdings Co Ltd , once the world's largest maker of solar panels, filed for provisional liquidation, signaling that it may go out of business after years of steep declines in panel prices. Suntech's shares fell as muc ...
Daily Headline - global.abi.org - 11/06/2013 - 21:45 - 0 comments
- China Debt Solution Seen Aided by Selling Listed Shares
China’s swelling local-government debt is spurring speculation that authorities could sell some of their holdings of listed shares, estimated by UBS AG to total at least 5 trillion yuan ($820 billion), to make repayments, Bloomberg reported. Partial dive ...
Daily Headline - global.abi.org - 10/31/2013 - 18:33 - 0 comments
- Top Chinese Banks Post Biggest Bad-Loan Surge Since 2010
China’s top four banks posted their biggest increase in soured loans since at least 2010 as a five-year credit spree left companies with excess manufacturing capacity and slower profit growth amid an economic slowdown. Nonperforming loans at Industrial & ...
Daily Headline - global.abi.org - 10/30/2013 - 22:04 - 0 comments
- Shunfeng Inks Preliminary Restructuring Deal With Suntech
China's Shunfeng Photovoltaic International Ltd has signed a preliminary deal to buy the main China unit of Suntech Power, two sources close to the matter said, Reuters reported. The framework agreement with Wuxi Suntech's administrator brings ...
Daily Headline - global.abi.org - 10/27/2013 - 23:00 - 0 comments
- IMF’s Zhu Says China Has Tools to Deal With Debt Levels
The Chinese government has room to deal with rising debt levels, which has become a “serious concern,” according to Zhu Min, a deputy managing director at the International Monetary Fund. While debt accumulation by companies and local government is “way ...
Daily Headline - global.abi.org - 10/09/2013 - 21:17 - 0 comments
- Chinese Home-Price Increases Pick Up Steam
Average new-home prices in 70 Chinese cities rose faster in August than at any time since January 2011 despite government measures to keep property prices in check, spurred by strong home-buying in major cities, The Wall Street Journal reported. It w ...
Daily Headline - global.abi.org - 09/18/2013 - 22:23 - 0 comments
- Researcher Puts China's Local Government Debt at $3.3 Trillion
A Chinese government researcher estimates that China's practices of borrowing heavily to fuel investment-driven growth have as much as doubled local government debt in just two years to around 20 trillion yuan ($3.3 trillion). The researcher, Liu Yu ...
Daily Headline - global.abi.org - 09/17/2013 - 22:06 - 0 comments