Runaway borrowers the new face of China’s personal credit boom
by He Huifeng / 6 December 2017/ Reuters
China’s online lending boom has sent a steady stream of new clients to Guangzhou lawyer Luo Aiping in recent months: the parents and siblings of young men trapped or ruined by usurious debts. Continue reading “Runaway borrowers the new face of China’s personal credit boom”
Does halting of subway project mark end of line for China’s infrastructure building boom?
by Jane Cai / 4 December 2017 / SCMP
The unprecedented suspension of a 30.5 billion yuan (US$4.6 billion) subway project in the Chinese city of Baotou in August shocked residents and construction workers alike.
During a decade-long subway construction boom in China, no one had ever seen a project halted after construction had begun. Now they are wondering whether Baotou marks the end of the line. Continue reading “Does halting of subway project mark end of line for China’s infrastructure building boom?”
China shuts down tens of thousands of factories in crackdown on pollution
Staff writers, AFP / OCTOBER 25, 2017
CHINA has shut down tens of thousands of its factories in an unprecedented crackdown on pollution.
Across the country, whole industrial regions are being temporarily closed as environmental inspectors do their work and blues skies return. Continue reading “China shuts down tens of thousands of factories in crackdown on pollution”
How will China’s sweeping pollution crackdown affect its economy?
by Jane Cai/ Sept 14, 2017/ SCMP
An unprecedented campaign against environmental pollution has led to 18,000 companies being punished across the country since last summer and more plant shutdowns. But the crackdown’s economic implications are just beginning to unfold.
Continue reading “How will China’s sweeping pollution crackdown affect its economy?”
Chinese finance high-speeds into unknown territory
by Qian Han/ 31 Jully 2017 / EAF
On 23 June 2017, a court in Shanghai charged the international trading company Eastern Dragon with market manipulation in the Chinese futures markets during the 2015 stock market crash. Eastern Dragon was slammed with a US$101 million fine and two of its traders were handed out suspended prison sentences. This sets an important precedent as the first time a Chinese court has ruled on foreign high frequency trading in China. Continue reading “Chinese finance high-speeds into unknown territory”
Maximising China’s growth potential
21 July 2017 / by Yang Yao and Mengqi Wang/ EAF
Amid declining growth rates, the debate about China’s growth potential has re-emerged. But one of the overlooked aspects in this debate is the crucial role of differing growth rates in China’s eastern, western and central regions.
China’s unprecedented growth over the last 30 years, particularly in the years before the global financial crisis, has been concentrated in eastern (coastal) provinces. The vast inland areas have largely lagged behind. In 2015, GDP per capita in the eastern region was 1.8 times that in the central and western regions. But since the global financial crisis, growth rates in the eastern provinces have slowed and the growth rates of inland provinces have picked up. Continue reading “Maximising China’s growth potential”
IMF raises China 2017 economic outlook again on policy support
BEIJING – The International Monetary Fund on Wednesday raised its forecast for China’s economic growth this year to 6.7 percent, citing “policy support, especially expansionary credit and public investment”. Continue reading “IMF raises China 2017 economic outlook again on policy support”
Beijing says yuan policy is actually doing US a favour
by Frank Tang / May 25, 2017 / SCMP
China defended its yuan exchange-rate policy and its interventions in the foreign exchange market on Thursday, saying it hasn’t manipulated its currency but instead sacrificed some of China’s interests to help the world, including the US. Continue reading “Beijing says yuan policy is actually doing US a favour”