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China’s consumer price index (CPI) turned positive for the first time since September, while the producer price index (PPI) fell for the 17th month in a row.
The liquidation of debt-ridden China Evergrande Group, ordered by a Hong Kong court on Monday, is unlikely to be enforced elsewhere in China, analysts say. “I think it’s extremely unlikely,” David Goodman, director of the China Studies Centre at the University of Sydney in Australia, told VOA in a phone interview on Tuesday. “It's not…
Despite government intervention, China's property crisis has been deepening as shadow bank Zhongzhi Enterprise Group declared bankruptcy on Jan. 5. The bank, which had financed the operations of several Chinese property developers over the years, stated in August 2023 that it was facing a liquidity crisis with many real estate companies defaulting on their debt and interest payment obligations. Colossal Liabilities Zhongzhi Enterprise had assessed its overall obligations to be in the range of 42
Analysts say the yield may drop further as traders expect more cuts in lending rates in 2024 amid iffy economic signals.
BEIJING: Five of China's largest state banks lowered interest rates on some deposits on Friday (Dec 22), the third round of such cuts this year, offering the prospect of reduced lending costs at a time when the government is urging banks to support the economy. Industrial and Commercial Bank of China, Agri