Bad debt in construction sector will hit Chinese economy, warn analysts

Bad debt in construction sector will hit Chinese economy, warn analysts

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 […]

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China passes law permitting three children per couple

China passes law permitting three children per couple

Beijing: – Chinese parliament has passed a law allowing married couples to have three children. The census in China was released a few months ago. It was revealed that China’s population growth rate has been declining for four consecutive years as the number of older people is increasing. It also hinted at a shock to […]

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New outbreak of Coronavirus epidemic in China, patients found in 18 provinces including capital Beijing and Wuhan

New outbreak of Coronavirus epidemic in China, patients found in 18 provinces including capital Beijing and Wuhan

Beijing – A new outbreak of the Coronavirus epidemic has erupted in China. A lockdown has been imposed in the Haidian area after Coronavirus patients were found in the capital, Beijing. Seven cases have been reported in Wuhan, following Beijing. Coronavirus outbreaks have been reported in 18 provinces, including the two cities, and it is […]

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China needs to act urgently to contain financial risks, warns IMF 

China needs to act urgently to contain financial risks, warns IMF 

Washington/Beijing: – The International Monetary Fund (IMF) has warned that China needs to initiate immediate steps to avert the threats to economic stability. The Chinese economy’s debt burden has increased tremendously during the Coronavirus pandemic period, and small banks and local administrations are feeling immense pressure. At the same time, the credit rating of the […]

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Chinese economy will be severely hit because of the taxes imposed by President Trump, IMF warns a decline of 0.8% in 2020

Chinese economy will be severely hit because of the taxes imposed by President Trump, IMF warns a decline of 0.8% in 2020

Washington/Beijing:  Due to the trade war initiated by US President Trump, the Chinese economy is on the verge of decline, and if further burdened with taxes, it would collapse in the year 2020. A report published by the International Monetary Fund (IMF) regarding China, warns that the Chinese economy can decline by 0.8%, under the […]

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Chinese economy tumbling because of US taxes retorts President trump

Chinese economy tumbling because of US taxes retorts President trump

Beijing/Washington: President Trump retorted that the Chinese economy plunged because of the taxes imposed by the United States. It was revealed, on Monday, that the Chinese economic growth has declined to 6.2% for the second quarter of 2019. This is the lowest for the last 27 years. The trade war, between the United States and […]

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China says will not negotiate with the US on trade talks ‘with a gun pointed its head’ after Trump announced new tariffs

China says will not negotiate with the US on trade talks ‘with a gun pointed its head’ after Trump announced new tariffs

Washington: President Trump announced new tariffs on Chinese goods saying that the United States is suffering a loss of $500 billion per year in the trade with China and the United States would not tolerate it henceforth. The blow Trump delivered at a time when the US-China trade negotiations are in the final phases had […]

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