Interest-rate cuts from China’s central bank have done little thus far to make credit more accessible for the small firms that Beijing has posited are central to its shift toward a consumption-driven economy, The Wall Street Journal reported, citing analysts and economists. To encourage risk-averse banks to lend to smaller-scale firms the People’s Bank of […]
Category: Banking & Finance
Coal exporter Winsway Enterprises (1733.HKG) has become the third Chinese company to default on an offshore bond this year, Reuters reported, citing a stock exchange announcement from the company. The company said it had missed an interest payment of US$13.15 million on its 8.5% bonds due in 2016, the grace period for which expired last […]
The People’s Bank of China cut the country’s one-year benchmark deposit rate by 25 basis points to 2.25% and the lending rate by the same amount to 5.1% following word that exports had declined 6.4% last month, South China Morning Post reported. The move, which took effect on Sunday, marks the third round of cuts […]
An agreement to be signed by Xi Jinping and Vladimir Putin in Moscow on Friday will see state-owned China Construction Bank and the government-backed Russian Direct Investment Fund (RDIF) establish a mechanism to allow Chinese financing to flow to Russian firms, The Financial Times reported, citing RDIF chief executive Kirill Dmitriev. The RDIF and another […]
The Hong Kong Stock Exchange has approved the listing of China’s fifth-largest brokerage HTSC for up to US$3.5 billion, The Wall Street Journal reported, citing unnamed sources. The brokerage would be the third initial public offering from the sector this year in greater China, after GF Securities (1776.HKG) in Hong Kong and Orient Securities (600958.SHA) […]