Shanghai has pledged to step up policing its manufacturing sectors to curb prolonged payment cycles that affect thousands of supply-chain vendors, reports the South China Morning Post. Gu Jun, deputy secretary general of the municipal government and director of the city’s development and reform commission, told a press conference that a task force had been set […]
Category: Banking & Finance
China’s revenue from residential land sales fell about 65% in 2025 from its 2020 peak, as a prolonged property downturn forced even state-backed investment vehicles to scale back, reports Caixin citing date from the China Index Academy. Land sales rose quite strongly in early 2025 because of purchases by state-owned enterprises to offset problems with […]
China Vanke is once again seeking to delay the repayment of a maturing domestic bond, reports Caixin. This is the third such attempt as the embattled property developer faces intensifying liquidity pressure and dwindling state support. Vanke announced it would convene a meeting of bondholders for its “21 Vanke 02” corporate note to vote on a […]
China has ordered some banks to recall troubled loans and freeze troubled accounts linked to local government financing vehicles (LGFVs) after auditors uncovered illegal financial activities, reports Caixin. The move signals a further push to rein in risks from hidden local government borrowing. The measures were disclosed in a report which found that inadequate oversight by […]
Property developer China Vanke narrowly dodged a default on Monday after onshore bondholders approved a plan to extend the grace period of a RMB 2 billion ($284 million) bond repayment reports Reuters. The bond in question matured on December 15, and bondholders rejected an earlier proposal by Vanke to delay repayments. But bondholders again rejected the state-backed developer’s […]