A Shanghai Local Funding Vehicle Facing Default on Debt
Shanghai Shenhong Investment & Development Co., Ltd is facing default on its debts, with nearly 1 billion yuan of liquidity coming due.
Wen Says China will Continue Buying European Sovereign Debt when Necessary
Chinese Premier Wen Jiabao said Tuesday that China will ocntinue buying into a certain amount of European sovereign debts when necessary.
China Pork Prices Jump Again in Recent Week
Pork prices in China jumped again the recent week ending June 26, raising further concerns over the rising inflation in the country.
Don't Panic, Local Debt Still Manageable
Although the size is still manageable, Beijing needs to take immediate action to restructure these debts to mitigate defaulting risks.
Loans to Funding Vehicles of Chinese Local Governments Topped 10 Trl Yuan by 2010-End
The amount of loans extended to funding vehicles of Chinese local governments had topped 10 trillion yuan by the end of 2010
Goldman Sachs Revises Down China’s Growth Outlook to 9.4Pct
Goldman Sachs revised down the outlook for economic growth in the Chinese mainland from 10 percent to 9.4 percent.
China can Rein in Inflation, Says Premier
Chinese Premier Wen Jiabao today gives “an emphatic yes” answer to the question whether China can rein in inflation and sustain its growth, in an article written on the Financial Times.
China's Yuan FDI Excludes Real Estate, Financing Sectors: Media
China's formalized rules allowing foreign firms to use yuan raised overseas to make investments in the country will not include areas in the real estate and financing
HSBC Preliminary PMI June Drops to an 11-Month Low
The preliminary HSBC China Manufacturing Purchasing Managers Index fell to an 11-month low of 50.1 in June, indicating nationwide contractions in manufacturing activities.
Hong Kong Launches "Duel Currencies" Scheme for Yuan IPOs
Under the “dual tranche, dual counter” model, companies aiming for a yuan-denominated IPO will be allowed to simultaneously offer and list their yuan and Hong Kong dollar tranches
China Banks' Non-Performing Loans may Hit 15Pct: Fitch Ratings
The non-performing loans for banks in the Chinese mainland may hit as much as 15 percent, following the nation’s lending binge since 2009, according to Fitch Ratings.
China May See Higher Inflation in June, Says Top Economic Planner
China's prices may rise faster in June than that in May, with pork prices remaining robust in the coming months.
Yuan Appreciation may not Necessarily Lead to Losses in Forex Reserves, Says SAFE Official
The yuan’s appreciation may not necessarily lead to a loss in foreign exchange reserves, a top official with the State Administration of Foreign Exchange said Saturday
China Shifts Asset Purchases from Dollar to Euro
China is shifting their asset purchases from U.S. debt to other instruments denominated in currencies, more likely the euro.
China Increases $7.6 Bln of U.S. Treasury Holdings in April
China boosted its holdings of U.S. Treasury debt by 7.6 billion U.S. dollars in April, the first increase after five months' decline
Hedge Funds Betting Against China on Currency Concern—Media
Worries are mounting on China’s weakening yuan as some hedge funds began betting against the world’s second-largest economy
Some China Banks See Negative Deposit Growth amid tightening
Some Chinese banks, including big state-backed ones, have seen negative growth in their deposits amid the recent tightening.
China May CPI Hit 34-Month High of 5.5Pct
CPI in China rose to a 34-month high in May with pork prices the major culprit;June CPI may exceed 6 percent.
China M2 Growth Hit 18-Month Low; Credit Control to Persist
The growth of M2, the broad measure of money supply, was 15.1 percent year on year by the end of May while the monetary tightening would persist.
China M2 Money Supply Up 15.1Pct in May
M2 grew 15.1 percent from the same period of last year in May and Chinese banks extended 551.6 billion yuan in loans.
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