Kaisa Group Holdings Ltd.’s dollar bonds headed for their best rally in six months on speculation a restructuring agreement with an onshore lender will allow the beleaguered Chinese developer to focus on resolving a stalemate with offshore creditors. The Shenzen-based real estate group’s Shanghai unit has returned to normal operations after reaching a settlement with Bank of China Ltd., spokeswoman Zhou Ting said in an e-mail Tuesday, declining to elaborate on the amount of debt involved.

China’s main task is to restructure its economy rather than worrying about the recent slump in stock prices, a German finance ministry official said Thursday, calling on the Asian giant to focus on strengthening domestic demand, The Wall Street Journal reported. “The recent discussions about stock-market turbulences are rather a side issue,” said the official during a briefing on next week’s meeting of the International Monetary Fund and Group of 20 nations in Lima, Peru.

China’s stock market crash and economic slowdown appear to be keeping globe-trotting Chinese tourists closer to home, potentially hurting the global travel industry and the luxury goods companies that have thrived on free-spending tour groups, The Wall Street Journal reported. Growth in international travel bookings from China fell in August for the first time since at least 2010 and continued to decline through September, despite the start of a big holiday week, according to ForwardKeys, a Spain-based travel intelligence company that analyzes Chinese airline booking data.

A brokerage report Friday saying the parent of China National Erzhong Group Co. won’t pay bond interest due today is prompting speculation over whether the smelting equipment maker will become China’s second state-owned company to default on onshore bonds, Bloomberg News reported. Analysts from China International Capital Corp. said the firm’s controlling shareholder China National Machinery Industry Corp.

When Mark L. Hart III, a hedge fund investor based in Texas, makes an investment bet, he does it in the style of his home state: big time, the International New York Times DealBook blog reported. Since 2007, his winners have included high-risk, high-return wagers that the United States housing market would collapse and that Greece would go bankrupt. But Mr. Hart’s most audacious gamble to date may well be the one he is making on China.

Chinese bondholders facing the prospect of a debt default by a state-owned enterprise will receive a bailout, the company said on Tuesday, a sign that Beijing remains unwilling to impose market discipline on lossmaking state groups, the Financial Times reported. China National Erzhong Group, a unit of one of the elite club of 112 big enterprises directly owned by the central government, employed a workforce of more than 13,000 in 2012, when it had assets of Rmb25bn ($3.9bn).

For decades, an army of migrant workers drove China’s boom times, flocking to its cities to sew T-shirts, assemble iPhones, or build apartment blocks and Olympic stadiums, The Wall Street Journal reported. The arrangement helped millions of poor, rural Chinese join a new consumer class, though many also paid a heavy price. Now, many migrant workers struggle to find their footing in a downshifting economy. As factories run out of money and construction projects turn idle across China, there has been a rise in the last thing Beijing wants to see: unrest.

Local financing networks are unravelling across China as the economic slowdown bites into one of the weakest but most enduring links in the financial system — pulling hundreds of thousands of investors down with it, the Financial Times reported. These networks flourished as long as sentiment was high and rapid economic growth persisted. Now, however, investors are taking to the streets across the country as they seek to recoup their losses. Money ploughed into financing schemes that went bust in 2014 amounted to more than Rmb100bn ($16bn).

A Chinese probe found evidence that Citic Securities Co., the nation’s biggest brokerage, engaged in insider trading connected to the government’s rescue of the stock market, people familiar with the matter said, Bloomberg News reported. A preliminary investigation concluded that the brokerage used advance knowledge of government-orchestrated stock purchases to execute trades that benefited the firm, said the people, who asked not to be identified because the matter is private.

Baoding Tianwei Group Co. and three of its business units are filing for bankruptcy, five months after the maker of electrical transformers became the first state-owned Chinese company to default on an onshore bond, Bloomberg News reported. Tianwei and its units are insolvent and cannot pay their debts, the company said in a statement posted on Chinamoney.com.cn, a website of the China Foreign Exchange Trade System. Tianwei said it plans to meet its backers to discuss the bankruptcy.