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  • September 16, 2014
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  1. Business - Economy - CHINA

    Chinese upbeat on economic outlook as rest of the world sees gloom

    Posted Sep 10th 2014, 10:42am by AP

    ... cent give the American economy poor marks. The deepest despair was recorded in countries hit hardest by the European debt crisis: 97 per cent of Greeks, 96 per cent of Italians and 93 per cent ... optimistic people. Just 15 per cent of Japanese expected an improved economy next year. People in advanced economies ranked high levels of government debt as the biggest economic problem, followed ...

  2. Business - Economy - CHINA

    Beijing urged to act as rising local government debts threaten reform

    Posted Mar 26th 2014, 05:29am by Ray Chan, Jeanny Yu

    ... debts Top mainland economists have urged the authorities to take more decisive action to rein in the country's mounting local government debt, saying the debt level is the biggest threat ... embracing a market-oriented economy, as a more open system hurts vested interest groups and bureaucrats. "Concerns over China's property market, local government debt, bank asset quality ...

  3. Business - Economy - CHINA

    Fears raised over huge debts involved in Beijing's infrastructure plans

    Posted Mar 07th 2013, 12:00am by Toh Han Shih

    ... Toh Han Shih hanshih.toh@scmp.com With 1 trillion yuan to be spent on road, rail, port and airport projects in 2013, one analyst says massive debts required are unsustainable Fears raised on huge infrastructure debt As Beijing targets 1.05 trillion yuan (HK$1.3 trillion) to be spent on roads, rail, ports and airports this year, concerns have been raised over the huge debt involved. ...

  4. Business - Economy - CHINA

    Growing debt burden in mainland provinces causes concern

    Posted Jan 30th 2013, 04:04pm by Jeanny Yu

    ... Jeanny Yu jeanny.yu@scmp.com Increasing debt burden a cause for concern The debt burden of some provinces on the mainland is becoming "worrisome" as they face the double whammy of slowing fiscal revenue and tightening bank loans, warn credit rating agencies. The debts of four provinces- Hubei, Jilin, Hainan and Hunan- are "fairly high" and may result in "high ...

  5. Business - Economy - CHINA

    China's finances weaker than data show, IMF report says

    Posted Jan 15th 2014, 11:59am by Celine Sun

    ... Celine Sun in Beijing celine.sun@scmp.com International Monetary Fund warns of 'macroeconomic shock' unless Beijing comes up with a better system to monitor local government debt ... The International Monetary Fund also warned that the mainland was now "more vulnerable to a macroeconomic shock" because of its higher debt and bigger deficit. It estimated ...

  6. Business - Economy - CHINA

    China rating agency downgrades US sovereign credit

    Posted Oct 18th 2013, 10:06am by Agence France-Presse in Beijing

    ... Agence France-Presse in Beijing Chinese credit ratings agency Dagong downgrades US sovereign credit rating after government shutdown and debt ceiling crisis A Chinese ratings agency downgraded its US sovereign credit rating on Thursday despite Washington’s resolution of the debt ceiling deadlock, warning that fundamentals for a potential default remained “unchanged”. Dagong ...

  7. Business - Economy - CHINA

    IMF warns China of risks in investment binge

    Posted May 30th 2013, 12:00am by Victoria Ruan

    ... Victoria Ruan in Beijing victoria.ruan@scmp.com With concerns rising over debt in the mainland's lower tiers of government, the agency expresses fears for economic stability IMF warns ... stable. Excessive investment by local authorities in recent years has created serious overcapacity and lowered efficiency. "Augmented" general government debt, including loans to local ...

  8. Business - Banking & Finance - CHINA

    Concern raised over China credit growth

    Posted May 30th 2013, 12:00am by BLOOM

    ... institutions. Fitch cut the nation's long-term local-currency debt rating last month, in the first downgrade by one of the top three rating companies in 14 years. "There is just no way to grow out of a debt problem when credit is already twice as large as GDP and growing nearly twice as fast," Chu said. Chu's view puts her in a minority among those charting the future ...

  9. Business - Economy - CHINA

    Inner Mongolian city lives on borrowed money

    Posted Jul 10th 2013, 12:00am by BLOOM

    ... Bloomberg in Beijing Inner Mongolian city lives on borrowed money A city in the autonomous region of Inner Mongolia known for its empty skyscrapers is struggling to repay debt and has ... employees, Economy & Nation Weekly said in a report on its website last week. Local government entities in the city had amassed 240 billion yuan (HK$300.8 billion) of debt, while the city had ...

  10. Business - Economy - CHINA

    Premier pledges continued steady investment growth

    Posted Apr 18th 2013, 12:00am by SANDY LI AND REUTERS

    ... Li Keqiang makes commitment to infrastructure building amid fears over local government debt The mainland will continue to increase investment at a "reasonable" pace, Premier Li Keqiang was quoted as saying yesterday, while promising to control risks arising from the pile of local government debt. State radio quoted Li as saying Beijing would step up efforts to build ...




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