The sudden halt in September of the manufacturing flash Markit/Caixin purchasing managers index, an early estimate of sector activity released ahead of the finalized figure, may have been due to government pressure, The New York Times reported, citing unnamed sources. The flash PMI – which typically arrived a few days ahead of both the official PMI […]
Category: Banking & Finance
Corporate debt in China accounted for 160% of gross domestic product in 2015, up from 98% in 2008, The Wall Street Journal reported, citing figures from Standard & Poor’s Ratings Services. Outstanding corporate bonds in China jumped 25% to RMB14.6 trillion (US$2.2 trillion), according to central bank data. Policy directing investment into corporate bonds, which can […]
The People’s Bank of China has announced that most types of overseas financial institutions will be able to invest freely in China’s interbank bond market without the need for quotas, Bloomberg reported, citing a statement on the central bank’s website. The market, which accounts for the vast majority of China’s debt, will now be open […]
Assets under management by China’s trust companies had grown to RMB16.3 trillion (US$2.495 trillion) by the end of 2015, up by 16% year on year, Caixin reported, citing data published by the China Trustee Association. Total industry profits were up by 17% to RMB75 billion, though the sector saw its first contraction in at least […]
Standard Chartered reported a net loss of US$2.36 billion for 2015 on Tuesday, marking the bank’s first annual loss since 1989, The Wall Street Journal reported. The bank saw bad loans nearly double for the year as its reliance on Asian markets and commodities backfired after years of strong returns prior to China’s economic slowdown. Benjamin […]