Provincial and municipal authorities in Zhejiang have established special task forces to address a mounting default crisis at Zhejiang Zhejin Asset Operation, reports Caixin. The licensed financial asset exchange has suspended payouts on wealth management products, stranding nearly 10,000 investors. The crisis, involving more than RMB 20 billion ($2.8 billion) in financial products, began in late […]
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China has announced a new policy package to boost household spending, reports the South China Morning Post. The policies focus on tightening coordination between commerce and financial regulators, expanding access to credit and promoting new forms of consumption. The move comes as soft retail sales and weak consumer confidence continued to weigh on economic growth last month. Analysts said […]
November saw the price of second-hand homes fall for the seventh consecutive month throughout China, with the pace of that decline being the fastest in over a year. Meanwhile, the economy further slowed, with factory output hitting a 15-month low and retail sales being the worst since the end of Covid. The overall situation is […]