China Newsbase
Fast, easy search of the China news that matters
The China News Database was last updated at 01:50PM on November 9, 2023.
Database searches currently perform best when a tag filter is used. We suggest trying out these tags: Xi Jinping, Russia, Taiwan, COVID-19, climate change, electric vehicles, gaming, IPOs, Belt and Road Initiative.
You may also filter by articles featured in our daily members-only Access newsletter, to get a curated overview of the top news and analysis about Chinese politics, business, and society. Select one option:
- All top news and analysis
- The China Project top news and analysis
- Top news and analysis from elsewhere — Stories in the “News briefing,” previously known as “Recommended links”
This product is in beta testing and development. If you would like to share feedback on the content or user experience, please email editors@thechinaproject.com.
261 articles matching the search query.
China’s Mystery ‘Authoritative Person’ Back to Explain Reforms
Who is China’s “authoritative person” on the economy? Bloomberg reports on a Xinhua commentary (in Chinese), published yesterday under the title of “Ten Questions on the Economy,” which cites an unnamed official only identified as “authoritative person” (权威人士). Unsurprisingly, the commentary “downplayed growth risks” and reiterated Beijing’s inclination to “not to flood the economy with stimulus while cutting a reliance on property and debt.” More interesting is who the mystery person is — Bloomberg says that the last time an economic official was identified in this way, it was widely believed to be Vice Premier Liú Hè 刘鹤.
Evergrande Staves Off Default With Last-Minute Bond Payment
Evergrande lives: The embattled property developer paid an $83 million bond coupon to give it at least another week to address a debt crisis that has rattled investor confidence.
China Tightens Online Insurance Rules in Widened Crackdown
Insurers discouraged from risk-taking: U.S.-listed Waterdrop is among the companies targeted by Beijing’s latest crackdown, which limits online insurers’ ability to run up debt.
China Evergrande secures bond extension as property sector turmoil deepens
Evergrande loses one lifeline, gains another: With just three days to go before the developer defaults on its first offshore bond, two asset sales that would have raised $4.3 billion have been suspended. However, the beleaguered developer was also “granted a more than three-month extension to a $260-million bond” that had originally been due to mature on October 3, Reuters reports.
China’s Provinces Struggle to Find Good Projects to Spend On
Real estate fallout continues: Local governments are struggling to decide which developments to fund; rising concerns about rampant debt have left them more concerned than usual about the profitability of their investments.
Central Bank Chief Says Evergrande Risks Are Controllable
Yi Gang, governor of the People’s Bank of China, says the risks posed by teetering real estate developer are isolated and systematic risks can be avoided
China’s Evergrande crisis: clock ticking as crucial debt default deadline looms
Evergrande fundraising deals fall through: With just three days to go before the developer defaults on its first offshore bond, two asset sales that would’ve raised $4.3 billion have been suspended.
Evergrande Risks to China Economy ‘Contained,’ IMF Official Says
The Evergrande crisis is “contained,” according to the IMF. Helge Berger, head of the fund’s China mission, “said on Bloomberg Television [that risks] in the property sector are contained to the sector at the moment, but authorities should keep monitoring in case they escalate.”
Shock Default in China Has Investors Eyeing Repayment Dates
China’s property industry has suffered its first default on a dollar bond since China Evergrande Group sank deeper into crisis in recent weeks, fueling investor concerns over other highly leveraged borrowers and about global contagion.
Evergrande Investors Say They’re Yet to Get USD Bond Coupon
Two holders of a China Evergrande Group dollar bond with a coupon due Wednesday said they hadn’t received payment as of 8:00 a.m. Hong Kong time Thursday.
What One of China’s Biggest Property Companies Can Tell Us About Debt
If you want to avoid being seen to cross any red lines, you could simply go dark.China’s authorities have introduced the “ three red lines” targets as a way of trying to encourage the country’s vast real estate sector to deleverage. Companies who don’t meet the required thresholds under the new program — such as a 70% ceiling on the ratio of liabilities to assets — will have their growth restricted.While there are many ways of minimizing the appearance of debt on one’s balance sheet — including
China Keeps Cash Engine Running in Ninth Day of Injections
China’s central bank injected liquidity into the financial system for a ninth day in the longest run since December as it sought to meet a surge in seasonal demand for cash.
World’s Top Pension Fund JPIF Won’t Buy Chinese Sovereign Debt
Japan’s Government Pension Investment Fund, the world’s largest pension fund, said it won’t include yuan-denominated Chinese sovereign debt in its portfolio.
Evergrande Losing Control of Bank Unit in $1.5 Billion Deal
China Evergrande Group is poised to lose control of its most valuable financial unit after agreeing to sell a bank stake for about 10 billion yuan ($1.5 billion), as the troubled developer scrambles to offload assets to address its debt crisis.
Evergrande Bondholders Mull Next Steps in Wake of Missed Payment
Foreign investors in the Chinese property giant’s debt face the challenge of navigating an uncertain, complicated international restructuring.
Hong Kong Asks Banks to Report Evergrande Exposure
Hong Kong’s central bank asked lenders to report their exposure to debt-laden China Evergrande Group on concern over potential systemic risks to the region’s financial system, according to people familiar with the matter.
Prudential Raises $2.4 Billion From Hong Kong Offering
Prudential Plc has raised HK$18.8 billion ($2.4 billion) from its Hong Kong share offering after pricing the stock at a slight discount to its last close in London.
China Evergrande: What the Property Developer's Debt Crisis Means For Your Money
In China, a company called Evergrande promised to deliver apartments to some 1.5 million buyers, who are still waiting for their keys.
WSJ News Exclusive | China Makes Preparations for Evergrande’s Demise
Beijing, reluctant to bail out the country’s most heavily indebted property developer, is asking local officials across the country to prepare for a “possible storm.”
