China’s banking regulator has signaled that steel and coal firms struggling to repay debt may be the testing ground for debt-for-equity swaps, Caixin reports. According to a document from the China Banking Regulatory Commission (CBRC), asset management companies (AMCs) owned by the central and local governments are encouraged to participate in the swaps scheme by […]
Category: Commodities
China’s banking regulator has warned companies not to use the word “bank” in their names following a series of scandals and multibillion-dollar investment scams. The Financial Times reports several outfits posing as accredited financial institutions have been exposed by the regulator in the past year, among them a China Construction Bank operating out of a […]
The European Union on Thursday imposed anti-dumping tariffs on some Chinese and Russian steel imports for the next five years in a fresh effort to protect domestic manufacturers struggling with overcapacity, The Wall Street Journal reports. The duties, which range from 19.7% to 22.1% for Chinese companies and from 18.7% to 36.1% for Russian producers, […]
The latest dip in oil prices below $40 a barrel is good news for Asia’s motorists, but it stands to boost the already-growing reliance of China and other big crude consumers on imported oil, according to The Wall Street Journal. Low oil prices have sent China’s oil imports soaring to record levels in recent months—the […]
State-owned China Petroleum & Chemical Corp. (Sinopec) on Tuesday said it plans to raise fresh capital by selling half of a major natural-gas pipeline, as the central government seeks greater outside investment in the sector’s infrastructure. Sinopec said that after the sale, it would continue to hold a 50% stake in the unit that operates […]