Analysis China’s foreign debt, including U.S. dollar debt, stood at $2.4 trillion at the end of 2020, a 4 percent increase from the previous quarter. The country’s corporate debt, combined with household debt, now exceeds 300 percent of GDP. The U.S.-China trade war, along with the pandemic lockdowns, have slowed the economy. The CCP hopes…
China’s Debt Crisis Goes Far Beyond Evergrande
September 28, 2021
admin
AnalysisChinaChina Business & EconomyChina's foreign debtevergrandeoff-balance-sheet lendingOpinionreal estateThinking About China
0 Comment
China Evergrande Halts Electric Car Unit’s Listing Plan, Shares Tumble
September 28, 2021
admin
Asia & PacificBusiness & EconomyChinaChina Business & EconomyCompaniesevergrandeEvergrande debt crisisEvergrande's electric vehicleMarketsWorld
0 Comment
Shares in Evergrande’s electric vehicle unit tumbled on Sept. 27 in Hong Kong after suspending plans for a secondary listing on Shanghai’s Star Market due to a “serious shortage of funds.” The pulled listing is the latest blow to the unit that once had a higher stock market valuation than Ford. It comes as Evergrande’s…
China’s Xi Walks Political Tightrope as Evergrande, Property Market Totters
Commentary Some clarity emerged from the China Evergrande saga as the embattled real estate developer triaged its finances by electing to forego paying offshore bondholders in favor of conserving cash to pay Chinese customers and stakeholders. After weeks of customer protests, credit downgrades, and rumors of default, Evergrande elected to pay onshore bondholders and was…
Risk FX Rallies, Safe Havens Offered as Evergrande Fears Ebb
September 27, 2021
admin
Asia & PacificAustraliaAustralianBusiness & EconomyCanadaChinaChina Business & EconomyCompaniesDollarEconomieseconomyEuropeevergrandefearsFXMarketsUKUSUS NewsWorld
0 Comment
LONDON—The risk-sensitive Australian dollar rallied and the safe-haven yen dipped to a nearly three-month low on Monday, as fears of widespread market contagion from indebted China Evergrande Group receded. Rising commodity prices also helped the Aussie and Norway’s crown, while the yen was pressured as higher U.S. yields attracted Japanese investor money. The euro traded…
Will China’s Real Estate Crash Trash the Global Economy?
September 26, 2021
admin
China real estatedistorted marketevergrandeindebtedLehman BrothersOpinionThinking About ChinaViewpoints
0 Comment
Commentary Is China’s real estate-based economy on the brink of collapse? A big part of it just might be, if not all of it. Evergrande, China’s second largest real estate developer and the world’s most indebted property developer, is in danger of defaulting on loan service payments. Much of the debt is held by Chinese…
Evergrande: What’s in a Name?
Commentary Much of the financial world is abuzz about Chinese property giant Evergrande’s failure to meet its massive debt obligations and the impact it may have on China’s economy and international markets. That certainly matters, and my sense is the shock is likely to be significant and the impact unlikely to be brief. As the…
HSBC, StanChart May Face Secondary Shockwaves From Evergrande Crisis: Analysts
September 24, 2021
admin
Business & EconomyChinaChina Business & EconomyCompaniescrisisEuropeevergrandeHK BusinessHong KongHSBCMarketsSecondaryShockwavesStanChartUKWorld
0 Comment
LONDON—HSBC and Standard Chartered could face spillover damage to their profits and balance sheets from the debt crisis enveloping China Evergrande Group even though the two banks say they have limited their direct exposure, analysts have warned. Other banks and insurers could also suffer indirect effects such as loss of fees or a devaluation of…
Wall Street Rally Fizzles out as Evergrande Worries Persist; Nike Drops
September 24, 2021
admin
Business & EconomyChinaChina Business & EconomyCompaniesEconomieseconomyevergrandeLocal NewsMarketsNew YorkNikeNY NewsRegional-Local NewsUSUS NewsWall Streetworries
0 Comment
U.S. stock indexes fell on Friday following a two-day rally, as worries persisted about the spillover from debt-laden China Evergrande, while Nike tumbled after cutting its sales forecast. Six of the 11 major S&P sectors advanced in early trading, with economy-sensitive energy, financials and defensive utilities shares leading gains. Technology and consumer discretionary were the…
Evergrande Investors on Hold After Payment Deadline Passes
SINGAPORE/SHANGHAI—China’s Evergrande Group has left global investors guessing over whether it will make a key interest payment, adding to fears that Beijing will let overseas bondholders swallow large losses as a liquidity crisis deepens for the world’s most indebted property company. Evergrande owes $305 billion, has run short of cash, and investors are worried a…
China’s Central Bank Declares All Cryptocurrency-Related Activities Illegal
September 24, 2021
admin
bitcoinChinaChina Business & EconomyChinese RegimecryptocurrencyevergrandePeople’s Bank of Chinasocial controlSpecial Topicsvirtual currency
0 Comment
China’s central bank has declared all cryptocurrency-related transactions illegal while vowing to crack down on the virtual currency market. The People’s Bank of China said in a statement, translated by CNBC, that services offering trading, order matching, token issuance, and derivatives for virtual currencies are strictly prohibited. Overseas crypto exchanges providing services in mainland China are…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`