Shares of China Evergrande Group are set to fall 10.5 percent on Thursday as trade resumed in the latest blow to the debt-saddled developer, whose woes have rattled global markets. The development comes after a two-week suspension in trade that started on Oct. 4. The company announced late on Oct. 20 that it had failed…
China Evergrande Shares Tumble as Trade Resumes Without $2.6 Billion Deal
Evergrande Crisis Portends a ‘Dramatically’ Slowing Chinese Economy, Economist Says
October 19, 2021
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The Chinese economy is on the path of a sharp slowdown in the coming years as Beijing wrestles with the Evergrande debt crisis, an economic analyst warned, adding that this oncoming slump should serve as an awakening to the other parts of the globe. The country’s shrinking economy, however, may not immediately be made apparent,…
Bank of France Head Does Not Expect Evergrande Contagion
October 19, 2021
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LONDON—Francois Villeroy de Galhau, head of the Bank of France and a member of the European Central Bank (ECB), on Tuesday played down concerns that problems for China Evergrande Group could lead to broader contagion. Asked if Evergrande could spark effects similar to the 2008 collapse of Lehman Brothers, Villeroy told France Info radio that…
China’s Third-Quarter Economic Growth Slows to 4.9 Percent Amid Power Crunch, Property Woes
China’s economy recorded slower-than-expected growth in the third quarter as the country grapples with a worsening energy crisis and property woes. The latest data released by China’s National Bureau of Statistics (NBS) on Oct. 18 showed the year-on-year gross domestic product (GDP) growth in the third quarter hit a year low at 4.9 percent, slowing…
China’s 3rd-Quarter Economic Growth Slows to 4.9 Percent Amid Power Crunch, Property Woes
October 18, 2021
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China’s economy recorded slower-than-expected growth in the third quarter as the country grapples with a worsening energy crisis and property woes. The latest data released by China’s National Bureau of Statistics (NBS) on Oct. 18 showed the year-on-year gross domestic product (GDP) growth in the third quarter hit a year low at 4.9 percent, slowing…
Can a Weakening EU Really Challenge China?
Commentary The European Union recently announced the launch of “Global Gateway,” a bold project designed to compete with China’s Belt and Road Initiative (BRI). I use the word bold intentionally. After all, the effects of China’s BRI (also known as “One Belt, One Road”)—a global infrastructure expansion strategy adopted by the Chinese Communist Party (CCP)…
China Property Shares Stumble on Tax Worry, Signs of Weakness
HONG KONG/SHANGHAI—Chinese property shares fell on Monday, as Beijing pushed ahead with plans for a property tax and amid fresh signs of weakening in the real estate market. Chinese developer Kaisa Group’s coupon payment for a dollar bond and the central bank’s efforts to calm nerves over China Evergrande Group’s debt woes, helped in part…
New Construction in China Declines for 6th Month, Largest Downward Trend Since 2015
October 18, 2021
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China’s new construction starts declined for a sixth month in September, marking the longest downward trend since the March-August 2015 downturn. New construction starts in September fell 13.54 percent from the year prior, the third month of double-digit declines, according to Reuters calculations based on January-September data released by the National Bureau of Statistics on Monday. Property…
China Q3 GDP Growth Hits 1-Year Low, Raising Heat on Policymakers
BEIJING—China’s economy grew at the slowest pace in a year in the third quarter, hurt by power shortages, supply bottlenecks, and sporadic COVID-19 outbreaks, raising heat on policymakers amid rising jitters over the property sector. Data released on Monday showed gross domestic product (GDP) grew 4.9 percent in July-September, the weakest pace since the third…
Evergrande Crisis Underlines China’s Huge ‘Ghost Town’ Phenomenon
This story originally appeared on ValueWalk The Evergrande crisis —China Evergrande Group (HKG:6666) (OTCMKTS:EVGPF)— has brought to light how China has more than 30 million unsold properties that could serve as the home to 80 million people. Mark Williams, chief Asia economist at Capital Economics, estimates that the “ghost town” phenomenon in the country could…
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