Chinese Government Is Pushing Banks To Lend to Private Developers LeapRate

March 25, 2024 BY Simon Mugo

Chinese Government Is Pushing Banks To Lend to Private Developers

Despite Beijing's efforts to rejuvenate the industry through a "whitelist" approach designed to alleviate the sector's liquidity challenges, major domestic banks have remained cautious, limiting their credit extension to the beleaguered industry, vital for the nation's economic health. Since 2021, the real estate market in China, the world's second-largest economy, has faced successive challenges triggered…

March 06, 2024 BY PureContent

China targets 5% growth

Among the main targets of the country’s ruling Communist Party is boosting consumer spending as a way of driving the economy forward. 2023’s 5.2% growth had been an improvement on the meagre 3% achieved in 2022 as China continued to feel the effects of the COVID-19 pandemic. Li has spoken about having to find a…

February 29, 2024 BY Elizabeth Anderson

Chinese property market miseries continue as Country Garden faces liquidation petition

Ever Credit Limited, a division of Kingboard Holdings (0148.HK), lodged the filing against Country Gardens with the High Court of the Hong Kong Special Administrative Region. The hearing has been scheduled for 17 May 2024. Economists believe that the petition will renew doubts about the debt management capabilities and liquidity of China’s property sector. This…

February 09, 2024 BY PureContent

China moves to revive its stock markets, sacks securities regulator

The Communist Party's central committee appointed Wu Qing as Yi's replacement, with Yi being seen by some as the fall guy for recent losses. Wu, nicknamed "Broker Butcher," is a senior official known for cracking down on brokerages. A veteran regulator with a reputation for tough actions, he previously served as the acting vice…

January 12, 2024 BY Simon Mugo

China Is Looking To Coordinate Housing Sector Financing Better

The two regulatory bodies have declared their intention to establish a system that will more effectively address the financing requirements of real estate projects. This initiative is geared towards fostering stable growth within the housing sector, as detailed in a joint statement they released last Friday. Since mid-2021, China's real estate industry has been struggling…

September 08, 2023 BY Elizabeth Anderson

Markets taking note of China’s iPhone ban

The move adds to Apple’s challenges as it directly impacts its biggest non-U.S. market. The Chinese market makes up a sizeable chunk – about 19% – of Apple’s total revenue. Although drastic, it seems, according to an anonymous CNN source, that China has been implementing this policy non-officially since the Covid-19 pandemic and is now…

September 08, 2023 BY Elizabeth Anderson

European stocks experiencing longest slump since February 2018

Miners and technology stocks drew the shortest end of the stick, while utilities and healthcare subindexes regained some ground. Tech stocks did not escape the trend and took some amount of strain. Experts attributed this to China’s intention to broaden its ban on the use of iPhones, as government sectors and affiliates distance themselves from…

January 06, 2022 BY Steffy Bogdanova

HSBC sells 39% stake of its China securities brokerage joint venture partner

Action for the joint venture In order to expand its banking business in the second largest economy worldwide, China, HSBC will bid for the entire 39% stake in the joint venture. The action, due to expire on 21 January, follows HSBC regulatory approval in China to take full ownership of its life insurance joint venture…

September 24, 2021 BY Steffy Bogdanova

China announces all crypto transactions are illegal

The recent blow to crypto follows China’s concerns over cryptocurrency trading’s connection to fraud, money laundering and excessive energy consumption. China is one of the largest crypto markets in the world. This is the latest crackdown of China on crypto currency trading but it is not the first. In May, the country promised to focus…

May 28, 2021 BY Steffy Bogdanova

Forex Weekly Look Back: HSBC winds down US retail banking business, Playtech to sell Finalto for $210 million

The governor of the Bank of Korea suggested that cryptocurrency trades from South Korean citizens are a potential threat to the country’s financial system. Increased trading of virtual assets – known for their volatile pricing – is threatening to leave the nation’s financial system at risk of instability, according to the Governor of the Bank…

Tag: China