In a widely expected move, the People's Bank of China cut the one-year loan prime rate by 10 basis points to 3.45%, from 3.55%, in an effort to ease borrowing costs for businesses. It kept the ... ( read original story ...)
China’s property downturn spreads to trophy office buildings
HONG KONG/SHANGHAI -- Vacancies are rising in China's most exclusive office buildings as businesses look to reduce rental expenses during the country's disappointing economic recovery. ( read original story ...)
China’s Flailing Property Market Sparks Fears of ‘Lehman Moment’
Zhongrong International Trust Co., one of the largest entities in China’s shadow-banking sector with, $108 billion in assets at the end of 2022, recently missed $14 million in payments to a handful of ... ( read original story ...)
Evergrande shows China property ‘zombification’: 5 things to know
"Zombification" is increasing among property developers in China. Financially struggling companies are discontinuing construction projects before completion, highlighting that the Chinese property ... ( read original story ...)
Contagion fears spread as China property sector cash crunch intensifies
FILE PHOTO: The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. REUTERS/Aly Song/File Photo (Reuters) -Turmoil at ... ( read original story ...)
China’s Shadow Banks Could Be Another Property Casualty
Missed payments from a well-connected trust firm come as China’s property market sinks again—and banks step back. ( read original story ...)
METALS-Base metals fall on China property worries, stronger dollar
Prices of most base metals fell on Monday on heightened concerns over China's property sector, once considered a pillar of its economy and a key consumer of metals, and on a stronger dollar. ( read original story ...)