China has suspended debt repayments for 77 developing countries and regions as part of the G-20 debt relief initiative to help impoverished countries weather economic difficulties amid the coronavirus pandemic, a senior Chinese diplomat said on Sunday, reported Caixin. Chinese Vice Foreign Minister Ma Zhaoxu announced the measure during a press conference in Beijing, where […]
Category: Brief
Lu Zhengyao, chairman of scandal-ridden Luckin Coffee, is likely to face criminal charges in China after authorities discovered emails in which he instructed colleagues to commit fraud, a source close to domestic regulators told Caixin. China’s top market watchdog and Ministry of Finance have found evidence that Luckin, which is listed on the Nasdaq and seen […]
Jaguar Land Rover (JLR), owned by India’s Tata Motors, has entered into agreements with lenders in China for an unsecured 3-year term loan facility of RMB 5 billion ($704.50 million), marking its first debt financing in China, it said, reported Reuters. Arthur Yu, JLR’s vice president and China chief financial officer, said the Chinese banks […]
JD.com, one of China’s largest technology companies, will sell up to $4.3 billion in shares as it returns home to Hong Kong in what is likely to be one of the largest public offerings this year, reported the Financial Times. The online retail giant began placing shares with institutional investors on Friday, offering 133 million […]
The Shanghai Stock Exchange assigned a special team of experts to study a potential overhaul of its benchmark index, the first move in nearly three decades to make the index better reflect China’s fast-evolving economy, reported Caixin. The team consists of scholars, foreign index experts, brokerage researchers and fund managers and will meet soon to […]