A private gauge of China’s services activity signaled a slowdown in growth for the sector, reports The Wall Street Journal. The RatingDog general services purchasing managers index fell to 52.1 in November from 52.6 in October, marking the lowest level in five months. The subindex of total new orders remained in expansion in November, but […]
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Trade war timeout?
China has approved a batch of rare earth export permits, the first since the Trump-Xi meeting in November, although details are still vague on where exactly they are going. At the same time, US soybean exports to China are reportedly moving again, with the first batch of cargo already en route and another six scheduled […]
Two of China’s private data agencies withheld monthly home sales figures at the government’s behest, reports Bloomberg. According to people familiar with the matter, China Real Estate Information Corp and China Index Academy which are among the country’s biggest private property data providers, didn’t disclose the combined sales of the nation’s 100 largest developers for November […]
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Vanke proposes extension on ¥2bn debt
China Vanke has proposed a one-year extension on its RMB 2 billion ($282 million) mid-term note due in December, marking its first public debt deferral, reports Caixin. The moves signals mounting financial strain even on one of China’s historically stronger state-backed developers. Caixin says that according to documents it has seen, Vanke’s “22 Vanke MTN004” bond would […]
China’s tightening export controls are pushing European firms to explore new supply chain capacity outside of the world’s second-largest economy, according to a European lobbying group who say firms are seeking cover from the US-China trade war, reports Reuters. The European Union Chamber of Commerce in China said a third of its member companies were […]