Creditors are holding a vote on whether to give Vanke, which has $50 billion of interest-bearing liabilities, more time to forestall a default, reports Bloomberg. If they vote not to, it would mark a new phase in the country’s real estate woes that have already prompted $130 billion of defaults as well as restructurings and liquidations […]
Category: Markets & Finance
Italian luxury sneaker maker Golden Goose said that Chinese private equity firm HSG, formerly known as Sequoia Capital China, had become its majority shareholder after buying a stake from current owner Permira, reports Reuters. Singapore’s investment firm Temasek, alongside its subsidiary True Light, has also bought a minority stake in the Venice-based maker of sneakers that […]
China’s overseas bank lending has tripled in four years to RMB 2.52 trillion yuan and sales of onshore and offshore yuan debt are at or near records for the second year running, reports Reuters, as attractive pricing makes yuan poised to overtake overseas dollar loans at Chinese banks. Bankers say the boom is encouraged by cost, because […]
There is a clear disconnect growing in terms of information and perceptions on the state of China’s economy, and its positioning in terms of the tech and AI revolutions. This week’s news provides many examples of this. The real estate market—the heart of China’s economy—seems to be going from bad to worse, with total sales […]
Labubu mania appears to be ebbing as quickly as it surged, reports Bloomberg, driving a roughly 40% drop for Pop Mart International since its August peak. A disappointing US Black Friday and cooling resale demand have revived comparisons to the 1990s’ Beanie Babies bust, challenging the notion that Pop Mart could become China’s answer to Walt Disney or […]