China's state-backed funds are pulling back from investing in the funds of U.S.-headquartered private capital firms amid an escalating trade war between the world's two biggest economies, the Financial Times reported. Some of the Chinese funds are also seeking to be excluded from investments in U.S. companies made by private equity firms based elsewhere, the report, which cited seven private equity executives with knowledge of the matter, said.
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A Boeing jet earmarked for China was returning to the U.S. on Friday, flight tracking data showed, as the planemaker’s flagship delivery plant outside Shanghai was drawn into a deepening tariff war between Beijing and Washington, CNBC reported. The return of one of several jets waiting for final work and handover to a Chinese carrier at the completion center in Zhoushan is the latest sign of disruption to deliveries from a breakdown in the industry’s decades-old duty-free status. In a sign that Boeing was preparing for normal business just weeks before U.S.
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China’s economy grew faster than expected in the first three months of this year, as government stimulus measures helped to boost consumption, The Irish Times reported. The 5.4 percent increase of gross domestic product (GDP) compared to the same quarter last year came ahead of Donald Trump’s imposition of crippling tariffs on Chinese goods. Retail sales grew by a bigger than expected 5.9 per cent in March compared to a year ago and industrial output was up by 7.7 per cent, the fastest growth since June 2021, according to data released on Wednesday.
China's first-quarter economic growth outstripped expectations, underpinned by solid consumption and industrial output, but analysts fear momentum could shift sharply lower as U.S. tariffs pose the biggest risk to the Asian powerhouse in decades, Reuters reported. President Donald Trump has ratcheted up tariffs on Chinese goods to eye-watering levels, prompting Beijing to slap retaliatory duties on U.S. imports that have raised the stakes for the world's two biggest economies and rattled financial markets.
In the global trade war, Boeing is a big loser, The Wall Street Journal reported. Chinese officials told domestic airlines not to place new orders for Boeing jets and are requiring carriers to seek approval before taking delivery of already-ordered aircraft, according to people familiar with the matter. The tariff turmoil keeps getting worse for America’s largest exporter: Boeing’s vast and fragile supply chain is grappling with the end of its decades-long duty-free status. Boeing faces retaliatory tariffs from other countries.
When a Chinese pork producer filed for bankruptcy in 2019, the news came as a jolt to Alan Hill, Reuters reported. The retired Apple executive from Albuquerque had invested about $100,000 last decade in Dalian Chuming Meat Processing through a U.S.-listed holding company, Energroup Holdings. Chuming had not paid dividends for many years, but it supplied pork to Walmart and had been profitable at least as recently as 2016.
Xinyuan Real Estate's creditors recently filed an involuntary chapter 11 bankruptcy petition in New York to recover $65.8M in unpaid bonds, making it one of many Chinese builders grappling with financial turmoil in recent years, according to a Tuesday media report that cited a court filing, Seeking Alpha reported. Under U.S. bankruptcy law, creditors can request court oversight if a company misses debt payments, allowing the firm to either contest the petition or enter bankruptcy to reorganize.
Chinese property developer Country Garden said on Friday that it had reached an agreement with a key bondholder group and was close to finalising negotiations with a group of bank creditors, Reuters reported. The company defaulted on its offshore debt in late 2023 and is now in a restructuring process that aims to cut $14.1 billion of that debt by 78%. The restructuring support agreement with the key bondholder group holding 30% of the embattled developer's $10.3 billion existing offshore bond debt came ahead of a liquidation court hearing in Hong Kong on May 26.
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Beijing increased its tariffs on U.S. imports to 125% on Friday, hitting back against President Donald Trump's decision to raise duties on Chinese goods and upping the stakes in a trade war that threatens to upend global supply chains, Reuters reported. U.S. stocks ended higher, capping a volatile week, as China's retaliation intensified global economic turmoil unleashed by Trump's tariffs. But the safe haven of gold hit a record high during the session, and benchmark U.S.
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China's consumer prices fell for the second straight month in March while factory-gate deflation worsened, as an escalating U.S. trade war heightened worries about mounting piles of unsold exports that could drive domestic prices even lower, Reuters reported. The world's second-largest economy has gotten off to a bumpy start this year. A nascent pick-up in retail sales and robust expansion in factory activity have been offset by rising unemployment and deflationary pressures, fueling calls for more stimulus.
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