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  1. News - World - FINANCE

    Market shock after ‘vulture fund’ win on Argentina debt

    Posted Aug 28th 2013, 12:00am by AFP

    ... Agence France-Presse in Washington Argentina debt restructuring, and other deals elsewhere, could unravel after US court backs hedge funds' claim on defaulted bonds Market shock at 'vulture fund' win on Argentina debt A US court's decision to back two hedge funds demanding Argentina pay for defaulted bonds has jolted the multitrillion-dollar market for sovereign ...

    http://www.scmp.com/news/world/article/1299855/argentina-debt-restructuring-could-unravel-after-us-court-backs-vulture
  2. Business - Banking & Finance - FINANCE

    Mounting bad debts rock 'the cradle' of enterprise in Wenzhou

    Posted Oct 10th 2012, 12:00am by Kwong Man-ki

    ... Kwong Man-ki phoenix.kwong@scmp.com Non-performing loans pile up in Wenzhou, raising worries about credit at mainland lenders, but levels still below those at US banks Mounting bad debts ... in a decade, the state-owned China Securities Journal said yesterday, citing unnamed officials. By comparison, bad debts were just 0.37 per cent of total loans at the end of August last year. ...

    http://www.scmp.com/business/banking-finance/article/1057262/mounting-bad-debts-rock-cradle-enterprise-wenzhou
  3. Business - Banking & Finance - FINANCE

    China should allow more bond defaults, bank supervisor says

    Posted Mar 09th 2014, 05:51am by Bloomberg

    ... to happen,” Mei Xingbao said during a meeting of the Chinese People’s Political Consultative Conference in Beijing. “The debtor must be responsible for his own debt. He must tell the investors that there is risk involved in the product.” Mei’s remarks add to indications that Communist Party leaders will allow more debt to go bad rather than intervening to bail out investors. It agreed last year ...

    http://www.scmp.com/business/banking-finance/article/1444057/china-should-allow-more-bond-defaults-bank-supervisor-says
  4. News - China - FINANCE

    Wealth management industry distorting economy and needs reform, PBOC official says

    Posted May 11th 2014, 05:25am by Reuters

    ... painful spike in bad loans. Liu said official estimates suggested domestic banks wrote off 120 billion yuan (HK$151 billion) worth of bad debt last year, more than the 80 billion yuan ...

    http://www.scmp.com/news/china/article/1509432/wealth-management-industry-distorting-economy-and-needs-reform-pboc
  5. News - China - FINANCE

    Risk aversion, rather than financial reform, likely to top NPC agenda

    Posted Mar 04th 2014, 05:37pm by JANE CAI

    ... attention to avert the escalating financial risk.” Tackling the local government debt problem could be top of the government’s work agenda this year Lu Ting, economist at Bank of America Merrill ... reputation to whitewash the bond issuers with poor solvency.” Mainland local government debt had swollen to 17.9 trillion yuan (HK$22.7 trillion) by the middle of last year, according to the National ...

    http://www.scmp.com/news/china/article/1440200/risk-aversion-rather-financial-reform-likely-top-npc-agenda
  6. News - Hong Kong - FINANCE

    Hong Kong could face Greek-style financial crisis, warn government advisers

    Posted Mar 04th 2014, 12:33am by Olga Wong, Phila Siu, FANNY W.Y. FUNG

    ... Olga Wong, Phila Siu and Fanny W.Y. Fung Government could face massive deficit in coming years if spending continues to soar amid impact of ageing population Advisers warn of Greek-style debt meltdown Hong Kong could be as heavily indebted as Greece- facing a structural deficit of HK$1.54 trillion by 2041- if the city's spending grows at the current pace and nothing ...

    http://www.scmp.com/news/hong-kong/article/1439664/hong-kong-could-face-greek-style-financial-crisis-warn-government
  7. News - World - FINANCE

    850,000 bitcoins lost as Mt Gox exchange files for bankruptcy

    Posted Feb 28th 2014, 07:04pm by Danny Lee and Agencies

    ... (HK$494 million) in outstanding debt and only 3.8 billion yen in assets to cover losses. A bigger black hole for investors may yet emerge as Mt Gox said the exchange, used overwhelmingly ...

    http://www.scmp.com/news/world/article/1437296/tokyo-based-bitcoin-exchange-mt-gox-files-bankruptcy
  8. Business - Banking & Finance - FINANCE

    Rising interests rates means more pain for Hongkongers, says HKMA

    Posted Sep 26th 2013, 12:00am by KANIS LI

    ... Kanis Li kanis.li@scmp.com Ratio of household debt to GDP increases to a high of 62 per cent, putting families at risk Interest rate rise will bite, HKMA says Rising interest rates in future could spell greater pain for Hongkongers as household debt in the city soars to all-time highs, even as they borrow less to buy homes. The ratio of household debt to gross domestic product ...

    http://www.scmp.com/business/banking-finance/article/1317902/rising-interests-rates-means-more-pain-hongkongers-says
  9. Business - Banking & Finance - FINANCE

    Consumer credit fails to fulfil promise

    Posted Jan 27th 2014, 04:24am by JANE CAI

    ... "While large information technology investment is involved and much time and energy is spent setting up credit rating systems and collecting debts, profits have been far from satisfactory." ...

    http://www.scmp.com/business/banking-finance/article/1414594/consumer-credit-fails-fulfil-promise
  10. Business - Economy - FINANCE

    Beijing's leaders pledge to maintain growth and push on with reforms

    Posted Dec 13th 2013, 11:42pm by Victoria Ruan

    ... Victoria Ruan in Beijing victoria.ruan@scmp.com Despite warning of 'downward pressures' on economic performance, top-level conference agrees to set up panel to push on with reforms Leaders pledge to maintain growth The Beijing leadership has vowed at a key annual conference to maintain reasonable and healthy economic growth next year while controlling local debt ...

    http://www.scmp.com/business/economy/article/1380115/beijings-leaders-pledge-maintain-growth-and-push-reforms

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