Global ratings agency Fitch said today that it plans to withdraw all the ratings on China's Country Garden Services Holding on or about Dec. 12 for commercial reasons, Reuters reported. "Fitch believes that Country Garden Services investors benefit from increased rating coverage by Fitch and is providing approximately 30 days' notice to the market of the rating withdrawal," the ratings agency said in a statement on Monday. Fitch had downgraded Country Garden Services to BB+ and placed its rating on negative watch last week.

China will probably add more cash into the financial system this week as the largest amount of policy loans in a year come due. Some market watchers also expect a near-term reduction in banks’ reserve requirement ratio, Bloomberg News reported. The People’s Bank of China will offer 950 billion yuan ($130 billion) through the medium-term lending facility Wednesday, according to the median estimate of 10 analysts in a Bloomberg survey. That would exceed the 850 billion yuan maturing this month. Most economists expect the one-year policy interest rate to remain unchanged at 2.5%.

China's embattled Country Garden is aiming to pull together a tentative plan to restructure its offshore debt by the end of this year, Reuters reported. The nation's biggest private property developer, which missed a coupon payment in October triggering default terms, then aims to start formal negotiations with offshore bondholders by February or March next year. They added the firm expects to inform key bondholders of its cash flow projections by the year's end, as part of the basis for the tentative restructuring plan. The sources declined to be identified as the matter was confidential.

After a major default, investor attention usually turns to the potential payout from credit default swaps, a type of security that acts as insurance against bankruptcy. But when one of China’s biggest property developers missed a coupon on its bonds late last month, few bothered to check whether there would be any money up for grabs, Bloomberg News reported. That’s because China’s CDS market is much less developed than in most major economies, meaning that many of the investors that bought Country Garden Holdings Ltd’s $10 billion of dollar bonds did so without hedging against default.

China slipped back into deflation in October after a brief reprieve, highlighting how hard it is for Beijing to reinvigorate domestic demand in the world’s second-largest economy, the Wall Street Journal reported. In contrast to the U.S. and many advanced economies where taming inflation remains a high priority for central banks, China has struggled to revive inflation through most parts of the year—the latest evidence that a string of stimulus measures so far have failed to boost consumer confidence in the midst of a drawn-out property downturn.

Ping An Insurance (Group) Co. said that it doesn’t hold any shares in Country Garden Holdings Co. and has no plans to acquire the distressed Chinese developer, refuting a report that sent the insurance giant’s stock tumbling on Wednesday, Bloomberg News reported. The insurer said in a Shanghai Stock Exchange filing that it hasn’t received any suggestions or requests from any government agency to take over Country Garden, responding to a Reuters report that China’s State Council instructed the government of Guangdong province to ask Ping An to take a controlling stake in the developer.

The list of business executives and political figures who have gone missing in China keeps growing, the Wall Street Journal reported. Top executives at a video-streaming platform and a pharmaceutical company were the latest to disappear, as an intensifying clampdown by Beijing on alleged corruption and malfeasance shakes business confidence in China, among local and foreign firms alike. Chen Shaojie, chief executive of livestreaming firm DouYu, has been unreachable since October, a person familiar with the matter said.

Chinese authorities have asked Ping An Insurance Group to take a controlling stake in embattled Country Garden, the nation's biggest private property developer, Reuters reported. China's State Council, which is headed by Premier Li Qiang, has instructed the local government of Guangdong province, where both companies are based, to help arrange a rescue of Country Garden by Ping An. A spokesperson for Ping An (601318.SS) said the company had not been approached by the government and denied the information reported by Reuters.

China's Foreign Minister Wang Yi on Wednesday called on the Netherlands to jointly advance bilateral cooperation in economy, trade, science and technology, innovation and other fields, while maintaining the stability of global industrial and supply chains, Reuters reported. Wang, in a phone call with his Dutch counterpart Hanke Bruins Slot, described the Netherlands as a "gateway" for China's cooperation with Europe, according to a Chinese foreign ministry statement.