Page 4 - Three Red Lines News Today

Debt reduction will be the main goal for Chinese property firms as regulators have set a deadline of 2023 for developers to meet the ‘three red lines’ thresholds, say analysts.

MacroBusiness Access Subscriber Only Content at 9:00 am on August 3, 2021 | 3 comments Yesterday we saw a nice rally in Chinese stocks and a bounce in hopes that the incipient global growth slowdown is ending before it even began. Why? This: China’s top leaders signaled more targeted support for the economy as they look to cushion growth in the face of resurgent pandemic risks, fueling a rally in bonds. The much-watched Politburo meeting Friday indicated authorities will likely take more st...

MacroBusiness Access Subscriber Only Content at 9:00 am on July 26, 2021 | 0 comments The ferrous complex stabilised on July 24, 2021 with spot up slightly and paper too. Steel has not updated: Since January, I have held a “sell the rallies” position for iron ore. I am now moving to an outright “sell” position. There are five reasons. There are 1450 words left in this subscriber-only article. First, there is early evidence that this time it is different in Chinese attempts to curb steel...

MacroBusiness Access Subscriber Only Content at 9:00 am on July 12, 2021 | 0 comments China released its June credit data on Friday night and it was better than it has been for much of 2021. New yuan loans arrived at 3.67tr yuan with banks comprising 2.1tr yuan of that: This was the first monthly year-on-year growth in four at a modest 6%: There are 1795 words left in this subscriber-only article. Year-to-date new credit is still down 14.4%, or some $670bn, though the trend stabilised somewhat:...

HONG KONG SAR - Media OutReach - 1 June 2021 - Chinese property developer ─ Datang Group Holdings Limited("Datang" or the "Company"; together with the subsidiaries, the "Group"; HKEx stock code: 2117) is pleased to announce its debut issuance of USD300 million 12.50% senior notes due 2022. The completion of this offshore financing reflects the Groups strong financing capabilities and its more diversified funding channels, which enhance the debt profile. Respons...

China’s property market abuzz as authorities walk tightrope to recall illegal loans Letter circulating online requested the repayment of a loan and the interest ‘because the borrower failed to fulfil the purpose of the debt according to the loan agreement’ Outstanding household borrowing at the end of 2020 stood at 63.19 trillion yuan (US$9.7 trillion), the equivalent of 62 per cent of Chinese gross domestic product

Mingtiandi Username CFLD’s Wuhan Yangtze River Center is not quite ready for the market The impact of China’s crackdown on corporate debt came into clearer view in recent days as a former top 10 mainland developer confirmed last Friday that it was unable to repay holders of $530 million in dollar-denominated bonds that came due on 28 February. That end-of-month admission by China Fortune Land Development, which has $4.6 billion in offshore debt, was followed on Monday by Fitch Ratings cutti...

Real estate moguls with a Greece-size debt problem look for hints of relief, even as China’s legislature tries to wean industry off its loans Fifteen of the delegates at the ‘two session’s are developers, owning property companies with 2.44 trillion yuan (US$377 billion) of debt between them All but one of the 15 developers represented are in breach of one, if not all, of the Chinese central bank’s so-called Three Red Lines capital requirements

Beijing’s new rules limiting property bank loans are likely to hit Chinese developers hard and weigh on the momentum of a major economic growth engine this year, say analysts.