Hong Kong’s commercial banks are cutting their valuations of mortgaged homes as they bow to the double whammy impact of a viral epidemic with months of protests, in a move that could drive even more borrowers into negative equity and provoke panic selling, reported the South China Morning Post. The weekly Centa Valuation Index (CVI) compiled […]
Category: Health Care
The world’s largest steel industry just sent out another warning flare as producers grapple with the coronavirus outbreak: nationwide stockpiles of reinforcement bar have swelled to the most on record, reported Caixin. China’s mammoth steel sector — which accounts for more than half of global production — is in turmoil because of the outbreak, hit by […]
Millions of workers from manufacturing hub Guangdong province have yet to return to their jobs nearly a month after the Lunar New Year holiday, new data shows, reflecting a local labor crunch caused by virus-related travel restrictions after the extended break, reported Caixin. An analysis of roaming usage patterns from Guangdong-registered mobile accounts showed that through […]
US officials said Chinese leaders have taken the first steps toward implementing the first phase of a trade deal between the world’s two largest economies, an announcement that comes amid concerns that the coronavirus could delay the pace of China’s promise to purchase more US crops and other goods, reported the Wall Street Journal. US officials on Tuesday noted […]
China’s central bank expanded companies’ access to cheap loans Monday from six major state-owned lenders through a special relending program in a move to bolster businesses struck by the deadly coronavirus, reported Caixin. The People’s Bank of China told the country’s biggest banks to provide low-interest loans to selected companies shortlisted by 10 provincial and […]