Chinese property giant Dalian Wanda is selling off the majority of its overseas hotel and development projects as its overseas debt worries pile up, according to Bloomberg. A quarter of the company’s $2 billion overseas debt is due in March. Deals to sell three of Wanda’s five global projects-in London, Sydney and Australia’s Gold Coast […]
Category: Business Practice
US President Donald Trump told Reuters reporters in an interview Wednesday that he was considering a big “fine” as part of the ongoing investigation into China’s alleged intellectual property theft, in another sign that the US is looking to escalate tensions with China over trade. “We have a very big intellectual property potential fine going, […]
The northern Chinese city of Baotou has raised more than RMB 1.2 billion ($187 million) from its own residents since 2015 to fund government projects, the Financial Times reports. The heavily indebted industrial city also recently revised down its 2017 revenues by 49% after admitting to adding “fake” sources of income. The unusual method of […]
China’s banking regulator has admitted publicly that levels of household debt are becoming a cause for concern, the South China Morning Post reports. China must “lower corporate debt ratio and curb the leverage ratio of households,” said Guo Shuqing, chairman of the China Banking Regulatory Commission, during an interview published in the People’s Daily Monday. […]
Chinese space launch company Great Wall Industry is discussing a deal with Russia’s top rocket maker to procure key engine technology, a sign of the growing aerospace ties between the two countries that is causing concern in the US, the Financial Times reports. NPO Energomash, Russia’s leading rocket engine manufacturer, told the FT that talks […]