Category: China Economy News
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China’s State Asset Watchdog Signals Economic Vigilance Amidst Risk Surge
December 6, 2023: Trust businesses, finance subsidiaries, private equity, and commercial factoring are the four main areas within centrally operated enterprises that require close supervision, according to a new development from China’s Government-owned Assets Supervision and Administration Commission (Sasac). This indicates that risk management is well ingrained in China’s economy. Because of the uncertainty caused…
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China’s 8.5 Million Blacklisted Borrowers and Looming Economic Storms in the US
Published Date: December 05, 2023 Financial Times just dropped a bombshell: a staggering 8.5 million Chinese borrowers, roughly 1% of the working-age squad, find themselves on the government’s blacklist due to some serious debt defaults. This isn’t your run-of-the-mill financial hiccup; we’re talking about folks aged 18 to 59 facing restrictions that read like a…
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Evergrande’s Courtroom Ballet: The Unlikely Dance of Debt and Delay
Published Date: December 04, 2023 In the latest twist of Evergrande’s financial saga, the beleaguered real estate giant has managed to secure a courtroom timeout until January 29th, a move that could be the make-or-break moment in determining its fate. The reason for this delay? Evergrande is attempting a dramatic makeover with a revamped offshore…
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Hong Kong’s Strategic Pivot: Navigating Geopolitical Challenges through Economic Diversification
December 23, 2023: Amid geopolitical tensions and a complex global economic landscape, Hong Kong is proactively charting a course to attract new capital by fortifying business alliances with the Middle East and mainland China, according to Financial Secretary Paul Chan Mo-po. In a blog post on Sunday, Chan highlighted the significance of the inaugural Priority…
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China’s Unprecedented Move: Record Special Bond Issuance to Rescue Struggling Banks
November 29, 2023: In a bid to counter the cascading effects of a deepening property crisis and a sluggish economy, local governments in China have embarked on an extraordinary drive, marked by the record issuance of special bonds in 2023. These special-purpose bonds, a form of off-budget debt financing, are wielded by local authorities to…
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The Yuan’s Bid for Prominence in Russian-Indian Oil Deals
Nov 29, 2023: In the complex landscape of global oil trade, one of Russia’s key economic arteries is facing unprecedented challenges, stemming from the adoption of alternative currencies in response to Western sanctions over the Ukraine conflict. At the heart of this issue is the long-standing dominance of the U.S. dollar in international oil transactions,…
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Dollar Drops as Investors Bet on Rate Cut Surge!
November 27, 2023: Investors are shaking things up, selling dollars at the fastest rate in a year. Why? Well, they’re betting that the US Federal Reserve is done with its aggressive interest rate increases and is gearing up for multiple cuts next year. This move is sending shockwaves through the market. Asset managers are leading…
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Beijing’s Warning as Australian Warship Sails Through Taiwan Strait
Diving into the geopolitics of the Taiwan Strait, it’s clear that Australia’s recent move is making waves—literally and figuratively. The Toowoomba frigate’s transit through the sensitive waterway has caught the attention of both Beijing and Taipei. Firstly, the timing of this maneuver is crucial. Against the backdrop of strained Australian-Chinese relations, marked by recent incidents…
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China’s Respiratory Illness Surge Post-Covid Raises Eyebrows
Published Date: November 24, 2023 | Author: Yuval Noah Harari So, China is in the spotlight again, but this time it’s not the usual pandemic panic. The World Health Organization (WHO) has been on the case, investigating reports of clusters of pneumonia cases in children in northern China. The concern was real, with local media…
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De-Dollarization Showdown! BRICS Challenges Greenback Hegemony
In a seismic shift on the world economic stage, the BRICS economic alliance is poised to become a dominant force, with its gross domestic product on track to reach an unprecedented 45%. This development marks a stark contrast to the trajectory of the G7 countries, setting the stage for a recalibration of global power dynamics…
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Russia and China’s Unstoppable Economic Rise
Published Date: November 23, 2023 | Author: Yuval Noah Harari In the face of mounting pressures from the West, Russia, and China are bolstering their economic collaboration, with First Deputy Prime Minister Andrey Belousov projecting a substantial increase in trade volume between the two nations by the end of the decade. Anticipating a robust economic…
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China-Saudi Sign $7bn Currency Swap Deal
Published Date: November 23, 2023 | Author: Yuval Noah Harari China and Saudi Arabia recently agreed to trade currencies locally, swapping around 50 billion yuan almost equivalent to $6.93 billion. This move is part of China’s efforts to challenge the dominance of the US dollar. The People’s Bank of China explained that this agreement aims…