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Struggling Chinese property developer Country Garden Holdings is set to propose plans that would spread out the redemption of a privately placed bond totaling RMB 3.9 billion ($535 million) over a three-year period, Chinese news media reported, reports Nikkei Asia. Shanghai news site The Paper and others have reported the plans for the bond that […]

China cut its one-year benchmark lending rate on Monday as authorities seek to ramp up efforts to stimulate credit demand, but surprised markets by keeping the five-year rate unchanged amid broader concerns about a rapidly weakening currency, reports Reuters. The recovery in the world’s second-largest economy has lost steam due to a worsening property slump, […]

The US fried chicken chain Popeyes is making a renewed push in China with plans to open 1,700 outlets across the mainland in the coming decade, as it takes on a clutch of established rivals like KFC and McDonald’s, reports the South China Morning Post. The aggressive growth strategy comes after a sister company with […]

Alibaba Group Holding’s domestic e-commerce unit Taobao and Tmall is hiring for more than 2,000 entry-level positions, in a new sign that Big Tech firms in China are gearing up for growth after years of downsizing, reports the South China Morning Post. The unit, one of six major business groups under Alibaba, is looking for […]

China Evergrande Group sought Chapter 15 bankruptcy protection in New York on Thursday, a move that protects its US assets from creditors while it works on a restructuring deal elsewhere, reports Bloomberg. The Chinese homebuilder’s Chapter 15 petition references restructuring proceedings being carried out in Hong Kong and the Cayman Islands. Its Scenery Journey unit […]