The People’s Bank of China, China’s central bank, has halted nearly all credit ratings requirements for businesses who deal in bonds and alternative debt financing tools on the interbank market, reports Caixin. The move comes as regulators seek to restructure the credit ratings industry amid issues around inflated rankings. The halt on the need for […]
Author: grahamearnshaw
The No. 2 US diplomat met with Beijing’s new envoy in Washington on Thursday as the two sides reviewed a recent meeting and discussed future contacts, reported the South China Morning Post. The meeting between US Deputy Secretary of State Wendy Sherman and China’s new ambassador Qin Gang, who arrived in Washington in late July, followed months […]
China has sharply increased their coal-powered steel mill capacity in the first six months of 2021, showing Beijing’s hesitance to hamper industry-fueled growth in order to reach its climate goals, reports the FT. Analysis of Chinese government approvals by the Centre for Research on Energy and Clean Air (CREA), a Finland-based advocacy group, found that […]
China Evergrande Group is in talks with investors on selling assets including interests in China Evergrande New Energy Vehicle Group and Evergrande Property Services Group, the troubled property giant said, reported Bloomberg. The discussions involve “several independent third-party investors,” the company said in a statement to the Hong Kong exchange. Evergrande has been offloading assets and listing units […]
China’s vehicle sales slid in July for a third consecutive month, hit hard by flooding in some areas of the country, COVID-19 outbreaks in other areas and the global shortage of semiconductors, reported Reuters. The world’s biggest auto market saw sales drop 11.9% from the same month a year earlier to 1.86 million vehicles, according […]