China Newsbase
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The China News Database was last updated at 08:27AM on December 31, 2023.
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37 articles matching the search query.
Africa’s debt isn’t mostly to China and many Beijing-financed projects are for clean energy
China is neither laying a debt trap nor building a lot of fossil projects in Africa. Rather, it’s been relatively generous with debt relief, and in developing Africa’s renewable energy capabilities, argues Kenyan economist Anzetse Were.
China’s local governments are struggling to pay their bills
Provincial- and city-level governments in China are straining under unsustainable debt habits decades in the making, which were exacerbated by the costs of COVID-zero. Teachers and other public service employees are paying the price.
Editor’s note for February 23, 2023
A note for Access newsletter readers from Jeremy Goldkorn.
Hozon Auto: high electric vehicle sales but few customers
Hozon Auto is a shooting star in China’s electric vehicle industry: This year, it suddenly achieved the highest sales after industry giant BYD. But these numbers aren’t all they’re cracked up to be.
China offers carrot and sticks in debt deals with Ecuador and other countries
Ecuador has reached a debt-restructuring deal with China, adding to the list of countries that have recently been offered bailouts by the world’s largest bilateral creditor.
The financial news that really matters: The local government cash crunch holding back China
City and county governments in China are facing a real estate meltdown, prolonged COVID restrictions, debt, and economic uncertainty: Something has got to give.
China’s ‘three red lines’ policy to safeguard the property sector isn’t working yet
After decades of strong sales growth and investor optimism, in 2021, China’s property sector slumped as developers defaulted, sales slowed, and housing prices dropped. In response, Beijing implemented a “three red lines” policy to restore the real estate’s sector — but it’s not working (yet).
Zhongli Group: A cautionary tale of the solar energy industry
Solar energy company Zhongli Group is locked in a boardroom battle with its controlling shareholder and chairperson, and after a series of risky investments the company is now in an uphill battle for profitability.
China in South Asia: Bombs in Pakistan and debt bombs in Sri Lanka
A bomb blast kills three Chinese nationals in Karachi, including the head of the Confucius Institute, while Sri Lanka is in talks with China to restructure its massive debt.
Real estate developer goes from hunk to junk
Logan is yet another Chinese property developer under mounting pressure to settle its debts, with some being repaid at only 60 cents to the dollar.
Evergrande promises a restructuring plan in six months
After offshore bondholders threaten to take legal action, the indebted property developer finally promises a plan to restructure.
Editor’s note for Friday, January 21, 2022
A note for Access newsletter readers from Jeremy Goldkorn. Today: Anti-corruption investigations are coming to Big Tech, and Ant Group is connected to a corruption scandal involving Zhou Jiangyong, the former Party secretary of Alibaba’s home city of Hangzhou; Guangdong Province says it has eliminated “hidden local government debt”; German companies pressure Lithuania to back down in China dispute; Chinese media poke fun at the U.S. for 5G service troubles near airports; and more.
Editor’s note for Friday, January 14, 2022
A note for Access newsletter readers from Jeremy Goldkorn. Today: A COVID shakedown in Henan; Chinese parents find workarounds for restrictions on tutoring; China’s impending Golden Tax IV system is causing anxiety in the business community; Evergrande’s domestic bondholders agree to a six-month reprieve; Chinese exports continue to boom; America and China are one military accident away from disaster.
What to watch ahead of China’s 20th Party Congress, according to Damien Ma
Damien Ma, managing director and co-founder of the MacroPolo think tank, appeared on the Sinica Podcast to discuss China’s political and economic outlook in 2022.
Editor’s note for Friday, December 10, 2021
A note for Access newsletter readers from Jeremy Goldkorn. Today: Xi Jinping wants to “prevent the barbaric growth of capital,” according to a readout from the annual Central Economic Work Conference; Evergrande finally defaults on a bond; the struggles of single mothers; Nicaragua’s switch from Taipei to Beijing; Alibaba is left out of Unigroup deal; central bank raises foreign currency reserve requirements for banks; Hong Kong warns the U.K.’s Sunday Times about inciting election boycotts.
The end of Evergrande may finally be here
This is the first time the real estate giant has admitted that its $300 billion debt liability has become unsustainable.
Editor’s note for Friday, December 3, 2021
A note for Access newsletter readers from Jeremy Goldkorn. Today: Evergrande and other developers sink deeper into distress over their debt; Apple Daily runs out of money in Taiwan; the U.S. Justice Department’s China Initiative is a mess, according to data obtained by MIT Tech Review; Ray Dalio dismisses concerns about human rights in China.
What just happened with Evergrande?
Evergrande seems to avoid default, though some outlets claim otherwise.
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Evergrande enters another payment grace period as Fed warns of China real estate risk
China’s highly indebted property developer Evergrande continues to hop from one grace period to another on payments for various bonds, narrowly avoiding default. Meanwhile, the U.S. Federal Reserve has raised concerns about risks from “highly indebted corporations, especially in the real estate sector” in China.
Modern Land becomes latest Chinese developer to default as Evergrande grabs lifelines
The Chinese developer Modern Land said today that it had missed all payments on a $250 million bond, highlighting continuing strain in China’s property sector. At the same time, Evergrande appears to have averted multiple crises and the IMF says that risks are “contained,” for now.
