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A preliminary survey shows that 21 banks have been affected by the fall-out of capital chain disruptions that are grappling many small and medium-sized enterprises (SMEs) in Wenzhou

The PCAOB issued a warning of risks the auditors may face when auditing companies with operations in emerging markets such as China.

Local government in Wenzhou, an entrepreneurial city in the eastern province of Zhejiang that is grappling with a credit crunch, has filed an application for 60 billion yuan worth of one-year loans

The U.S. Senate has postponed its vote on the much-debated currency bill until next week, due to disagreements in some changes of the bill between the Republicans and Democrats.

PMI at 49.95. Although the lagged effects of credit tightening will continue to cool industrial activity in the months ahead, there remains little need to worry about a growth meltdown.

China’s economy may grow much slower in the coming five years, with 59 percent of respondents predicting growth below 5 percent by 2016

Up to 29 bankrupt bosses in Wenzhou have fled since April this year and another one committed suicide, reflecting rising money tensions in small Chinese companies.

China may hike the non-performance ratio in small companies to 5 percent amid the country's widespread credit crunch.

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