Kaisa Group Holdings Ltd. still lacked the necessary support from creditors for its offshore restructuring plan as of Sunday, said Tam Lai Ling, the Chinese developer’s senior adviser, Bloomberg News reported. Kaisa needs approval from investors holding 75 percent of its offshore bonds and loans for its plan to restructure debt to proceed. The firm has received no less than 53 percent as of Feb. 14, Tam said by phone. The developer had offered a consent fee of 0.5 percent for investors who supported the plan as of that date, after paying 1 percent for those who consented as of Jan. 24.

Chinese companies and residents sent more than $110bn out of the country in January alone, according to new estimates, as they continued to evade tightening capital controls amid another round of market turmoil, the Financial Times reported. Surging capital outflows from China have become a source of growing concern around the world and left Beijing scrambling to support its currency. Recently-released data showed the country’s foreign exchange reserves falling to their lowest level in almost four years in January.

At every turn in his improbably rapid rise, Ding Ning, 34, went to great efforts to convey the image of strong government backing for his Internet financing business, the International New York Times DealBook blog reported. But it all came crashing down in dramatic fashion for Mr. Ding this week, when the police alleged that his financing business, Ezubao, was a $7.6 billion Ponzi scheme and announced 21 arrests, including of Mr. Ding. The company was shut down. The charges were conveyed by the same official outlets whose favor Mr.

The uncertain future of Baha Mar, a $3.5 billion mega-resort nearing completion on Nassau’s white-sand Cable Beach, points to the challenges China faces as it finances and builds large-scale construction projects overseas amid language and cultural barriers, lack of regulation and allegations of graft. “The more problems there are and, in a way, the more media attention these problems attract, they erode positive attitudes towards Chinese presence in the region,” said Ariel C.

A Chinese online finance company bilked investors out of more than $7.6 billion, spent lavishly on gifts and salaries and buried the evidence, according to local authorities who described the operation as an enormous Ponzi scheme, the International New York Times DealBook blog reported. The accusations throw a shadow over China’s online finance industry, a lucrative area for many global leaders in the sector, but one that the authorities say has also drawn a growing number of cases of fraud and flameouts.

An archaic part of China’s banking system meant to provide short-term funding to companies is coming under renewed scrutiny after at least two cases of fraud were uncovered recently, Bloomberg News reported. An alleged fraud of almost 1 billion yuan ($152 million) was discovered late last year at China Citic Bank Corp., where an employee colluded to fake documentation that companies typically use to get quick funds, people familiar with the matter said Thursday. Agricultural Bank of China Ltd.

China is ramping up efforts to halt a flood of money leaving the country in response to an economic slowdown, moves that risk undermining Beijing’s ambition to elevate the yuan’s profile on the world stage, The Wall Street Journal reported. Its latest steps involve curbing the ability of foreign companies in China to repatriate earnings, shrinking the pool of Chinese yuan available for banks in Hong Kong to make loans, and banning yuan-based funds for overseas investments, people with direct knowledge of the matter said.

Default risks for a pile of $15tn in Chinese corporate debt are rising to their highest levels since the 2008 financial crisis as sluggish demand, weak pricing and high leverage sap the dynamism of the country’s most powerful companies, the Financial Times reported. Rating agencies that assess credit risks among China’s top corporations are predicting a jump in bond repayment defaults this year as they add more companies to their watch lists for downgrades, ratings executives say.

Chinese officials readily admit that communication has not been their strong point when it comes to dealing with international investors, the Financial Times reported in a commentary. The question of how China manages the renminbi is critical for global trade and commodity prices; the market turmoil following recent changes in the currency regime was exacerbated by Beijing’s failure to explain its intentions. Policymakers have now made it explicit that they have no wish to engineer a big devaluation.

China's volatile stock markets fell more than 1 percent on Wednesday, though mounting chatter about imminent policy stimulus provided some support against the backdrop of a fresh slide in oil prices, which hit stock markets across the globe, Reuters reported. Asian and European stocks were down sharply as U.S. crude sank beneath $28 a barrel for the first time since 2003, hammering energy stocks and boosting safe havens.