Beijing: – After Evergrande, China’s leading real estate company, indications are that other big companies also may default in debt repayments. They include Fantasia, Scenic Holdings along Modern Land. It is learned that the company defaulted on payment to the tune of $250 million. Analysts predict that the energy sector crisis and the Coronavirus pandemic’s […]
Beijing: – The ruling Communist Party has initiated inquiries against the country’s leading banks in the wake of the bankruptcy crisis in Evergrande, China’s leading real estate company. This includes the central bank of China as well as the leading state-owned banks known as the ‘Big Four’. Loans to private companies, including government enterprises in China, […]
Beijing: China’s top real estate company ‘Country Garden’ has not paid interest dues on US dollar bonds. This information emerged as the company announced a seven billion-dollar loss in the first six months of 2023. The company has a total debt burden of $200 billion. Besides, it has surfaced that the company does not have […]
Washington: – The Zero Covid policy implemented by President Xi Jinping in China for the past few months along with the real estate crisis are going to affect the Chinese economy. There is a possibility of China’s economy taking a hit of five trillion dollars in the coming five years when Xi Jinping will continue […]
Beijing: China, the world’s second-largest economy, is still in recession. Last month, it was revealed that China’s economic growth rate had dropped to 0.4%. After that, there are indications that the crisis in China’s ‘Real Estate’ sector is taking a more serious form. International financial institutions have predicted a 30% drop in China’s housing and […]
Beijing: – China has announced a cut ranging between 20% and 25% in the salaries of the government employees. Whereas, new year bonuses announced for the employees and officers from the education department have been withdrawn. Reports of China recovering major debts from the entrepreneurs, investors, and local artists were also received earlier. Citing these […]
Beijing – Fresh Coronavirus outbreaks and decline in the investment, retail, hoteling and real estate sectors have once again slowed down China’s economy. In the July-September quarter, China’s economic growth slowed by 0.8 per cent. New figures show that the Chinese economy continued to suffer for two consecutive months in October and November. Analysts are […]
Beijing: Evergrande, China’s leading construction company, has reportedly failed to repay more than 300 billion in debt. It has been revealed that two leading multinational banks have since refused to accept the bonds issued by Fantasia company as collateral. Subsequent developments have brought the issue of bad debts in the Chinese construction sector on the […]
