China will spur domestic demand and consolidate and enhance the economic recovery in 2024, the Politburo, a top decision-making body of the ruling Communist Party, was quoted by state media as saying on Friday, Reuters reported. The government has in recent months unveiled a flurry of measures to shore up a feeble post-pandemic economic recovery that has been held back by a property crisis, local government debt risks, slow global growth and geopolitical tensions.

Self-driving trucking company TuSimple Holdings said on Monday that it is winding down its U.S. business, reducing its workforce to about 30 people as it looks for a buyer for its assets that remain in the country, the Wall Street Journal reported. The demise of TuSimple’s U.S. operations marks a precipitous fall for the one-time leader in autonomous long-haul trucking. The San Diego-based company in the past year has had to grapple with safety concerns as well as government scrutiny of its dealings with a Chinese trucking startup.

China Evergrande Group said on Tuesday it received notices from court of Guangdong Province over a claim by a unit of Evergrande Property Services for the recovery of about 2 billion yuan ($280 million) in deposit certificate pledge guarantees, Reuters reported. The proceedings brought by unit Jinbi Property Management Company are related to the enforcement of Evergrande Property Services' deposit pledge of about 13.4 billion yuan. The embattled property developer said the notices regarding the claim also includes an estimated interest of 152.1 million yuan.

Credit rating agency Moody’s cut its outlook for Chinese sovereign bonds to negative on Tuesday, citing risks from a slowing economy and a crisis in its property sector, the Associated Press reported. Moody’s said that the downgrade, its first for China since 2017, reflects risks from financing troubles of local and regional governments and state-owned enterprises. The world’s second-biggest economy had been slowing before a 2020 crackdown on excessive borrowing brought on defaults by dozens of property developers.

China Evergrande Group’s chief agitator calling for its liquidation is suddenly backpedaling, but the line of creditors who may take up the torch doesn’t end there, Bloomberg News reported. In Hong Kong’s insolvency system, liquidation lawsuits often start with a creditor’s petition. Top Shine Global Limited of Intershore Consult (Samoa) Ltd., one of Evergrande’s creditors, took up the petitioner’s role, only to surprisingly demur at what was assumed to be a final liquidation hearing Monday.

In January, more than 100 financial sleuths were dispatched to the Guangzhou headquarters of China Evergrande Group, a real estate giant that had defaulted a year earlier under $300 billion of debt. Its longtime auditor had just resigned, and a nation of home buyers had directed its ire at Evergrande, the New York Times reported. Police on watch for protesters stood guard outside the building, and the new team of auditors were issued permits to get in.

China Evergrande Group on Monday said it has been granted an adjournment of a court hearing into a liquidation petition to Jan. 29, giving the embattled property developer time to finalise a revamped offshore debt-restructuring plan, Reuters reported. The decision came as the world's most indebted developer with more than $300 billion in liabilities sought adjournment unexpectedly unopposed by the petitioner's lawyer. On Oct.

Given the strains China’s economy is already laboring under—including a slow-motion property sector implosion and the “serious” insolvency of Zhongzhi Enterprise Group, a large asset manager, in its own words—it isn’t a great sign that China’s money markets have recently been throwing off little blips of distress too, the Wall Street Journal reported. There is little sign of an immediate crisis such as the one that erupted in the wake of regulators’ sudden takeover of Baoshang Bank, a midsize lender, in 2019.

Chinese property giant Evergrande and its biggest foreign creditors are negotiating an 11th-hour deal to prevent a liquidation of the company’s offshore businesses on Monday, WSJ Pro Bankruptcy reported. Evergrande and a group of its bondholders have been negotiating to restructure the financially troubled company after Chinese regulators vetoed a previous version of their plan. In a recent proposal, Evergrande has offered to give control of around 20% of its Guangdong-based parent company, China Evergrande Group, to its creditors.

China Evergrande Group, the world's most indebted property developer, is seeking to avert a potentially imminent liquidation with a last-minute debt restructuring proposal, Reuters reported. The defaulted company has until a Hong Kong court hearing on Monday to present a "concrete" revised debt restructuring proposal for offshore creditors, a judge said last month after its original plan had lapsed.