China’s steel industry is entering a precarious new era as a worsening property crisis imperils demand and Beijing’s construction-led growth model looks increasingly untenable. Almost a third of China’s steel mills could go into bankruptcy in a squeeze that’s likely to last five years, Li Ganpo, founder and chairman of Hebei Jingye Steel Group, warned at a private company meeting in June. “The whole sector is losing money and I can’t see a turning point for now,” he said, according to a transcript of the gathering seen by Bloomberg News.

Chinese investors roughly doubled the number of applications they made last year seeking U.S. regulatory clearance for proposed stakes in American companies, according to a report the government plans to release on Tuesday, Reuters reported. The Treasury Department report seen by Reuters shows that Chinese investors filed 44 so-called "covered notices" seeking greenlights for their deals in U.S. President Joe Biden's first year in office compared to 17 such filings in 2020.

Embattled property developer China Evergrande Group said one of its units has been told to honor a $1.1 billion guarantee, revealing yet another large financial obligation that wasn’t previously disclosed, the Wall Street Journal reported. Evergrande, in a regulatory filing on Sunday, said one of its subsidiaries in China had provided counter guarantees to an unnamed entity by pledging its shares in Shengjing Bank Co., a regional lender based in the city of Shenyang, the capital of northeastern Liaoning province.

A regulatory breakthrough is expected to slash costs for investors trading over-the-counter derivatives in China, the latest step in opening up the nation’s capital markets to foreign investors, Bloomberg News reported. A Chinese law that takes effect Monday enforces a mechanism used around the world for determining payouts if a derivative counterparty defaults, bringing the standards there in line with those used in other major markets.

China Evergrande Group will offer its offshore creditors asset packages that may include shares in two overseas-listed units as a sweetener, the developer said on Friday, as a stifling liquidity crisis in the property sector continues, Reuters reported. The two listed units are Evergrande Property Services Group Ltd and electric vehicle maker China Evergrande New Energy Vehicle Group Ltd, the embattled developer said in an update on its preliminary restructuring proposal, a move that was widely expected by creditors.

A group of offshore creditors to China Evergrande Group are demanding additional information about the seizure of nearly $2 billion by local banks that could explain how the troubled property developer pledged the funds without investors’ knowledge, the Wall Street Journal reported. Last Friday, Evergrande released the preliminary results of an investigation into the missing funds pledged as security for loans by an offshore subsidiary that manages Evergrande-built properties.

China will try hard to achieve the best possible results for the economy this year, state media said on Thursday after a high-level meeting of the ruling Communist Party, dropping previous calls that it will strive to meet its 2022 growth target, Reuters reported. In the second half, China should "stabilise employment and prices, maintain economic operations within a reasonable range, and strive to achieve the best possible results," Xinhua news agency reported, after the 25-member Politburo chaired by President Xi Jinping met to assess the economy.

China Evergrande Group has only days to unveil its restructuring plan, but even if it meets the deadline, the embattled property developer faces a new and considerable hurdle: A young, politically connected investor who wants to wind down the company unless he gets his money back fast, Bloomberg reported. A business tied to Lin Ho Man, who only a few years ago graduated from the University of California Irvine, filed a petition in Hong Kong to wind down Evergrande if it doesn’t repay HK$862.5 million ($110 million).

The U.S. public company accounting regulator will not accept any restrictions on its access to the audit papers of Chinese companies listed in New York, including where firms have been delisted, two people with knowledge of the U.S. agency's thinking told Reuters. Washington and Beijing are in talks to settle a long-running dispute over the auditing compliance of U.S.-listed Chinese firms which, if unresolved, could see more than 270 Chinese firms kicked off New York bourses.

China will launch a real estate fund to help property developers resolve a crippling debt crisis, aiming for a warchest of up to 300 billion yuan ($44 billion) in a bid to restore confidence in the industry, Reuters reported. The move would mark the first major step by the state to rescue the beleaguered property sector since the debt troubles became public last year.