China’s trust sector returned to profit growth in the first half of this year, following a regulatory overhaul aimed at curbingshadow banking risks, reports Caixin. Total profit at China’s trust companies edged up 0.45% year-on-year to RMB 19.7 billion ($2.8 billion) in the period, supported by rising revenue, data from the China Trustee Association showed. Despite […]
Category: Banking & Finance
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 […]
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 […]
Creditors are holding a vote on whether to give Vanke, which has $50 billion of interest-bearing liabilities, more time to forestall a default on the loan. Vanke failed to make a payment on December 15 and proposed a one-year extension. Vanke is the biggest property developer in China, and the fact that it is seeking […]
MetaX Integrated Circuits soared on its trading debut in Shanghai, reports the South China Morning Post. This is the second producer of graphics processing units (GPUs) to go public this month amid optimism about China’s push for self-sufficiency in semiconductors and artificial intelligence. The shares of the Shanghai-based company began trading at RMB 700 on 17 December […]