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  1. Policy U-turn as debt piles up

    Posted Jun 27th 2012, 12:00am

    ... Jane Cai in Beijing xuejun.cai@scmp.com National lawmakers have made a policy U-turn, barring local governments from directly issuing bonds as concerns mount over their runaway debts ... to issue debt, subject to a cap. At present, local governments are banned from directly selling bonds. With local government debt piling up to about 10.7 trillion yuan (HK$13.1 trillion) by the end ...

  2. Glass firm first into the junk debt market

    Posted Jun 09th 2012, 12:00am

    ... debt at an annualised interest rate of 9.5 per cent on the Shanghai Stock Exchange. The bond offering will open the floodgates for thousands of small- and medium-sized companies to raise ... the riskier high-yield bonds since yesterday. The plan to launch the high-yield bonds- junk debt offered by lower-grade firms- was unveiled in February. China Securities Regulatory Commission (CSRC) ...

  3. Debt-ridden Xinyi Glass raises HK$1.14 billion

    Posted May 05th 2012, 12:00am

    ... Toh Han Shih hanshih.toh@scmp.com Xinyi Glass Holdings, a debt-ridden mainland glass maker, said yesterday it had raised net proceeds of HK$1.14 billion from sales of its shares ... recovered.' In November, Xinyi Glass called off the Hong Kong listing of Xinyi Solar, citing volatility in global capital markets and the European debt crisis. Xinyi Solar had hoped to raise US$150 ...

  4. The other solution to Beijing's deepening debt problems

    Posted Feb 24th 2012, 12:00am

    ... Tom Holland China has a government debt problem. Granted, it's not a problem on the scale of Greece, where public debt now stands at 165 per cent of gross domestic product. Nonetheless, China's debt burden is substantial- and worrying. You won't get that impression from looking at the official figures. According to Beijing's numbers, at the end of last year ...

  5. Business - Economy - SHIPPING

    Lenders hold fire on ailing shipping firms

    Posted Aug 13th 2012, 12:00am by Keith Wallis

    ... and Royal Bank of Scotland have either scaled back or stopped lending to shipping companies, Lee said they have been reluctant to enforce loan defaults. "Banks are better off rescheduling debt with existing operators rather than [taking] over and [selling] the ships," he said. "A lot of banks can't afford to take a hit," especially with the ongoing European debt crisis ...

  6. Europe's other bad-debt problem

    Posted Mar 04th 2012, 12:00am

    ... to address the pressing debt problems of Italy, Spain and Portugal as well as Greece, not to mention wider structural debt imbalances. So far, the crisis has revolved around a fixation with sovereign debt, reflected in volatile bond markets. But there is now increasing concern that Europe has taken its eye off a major obstacle to recovery, which is an even bigger stock of corporate ...

  7. CKI seeks US$2.29b in debt issue

    Posted Feb 18th 2012, 12:00am

    ... Denise Tsang denise.tsang@scmp.com Cheung Kong Infrastructure is to raise US$300 million by issuing callable perpetual securities- a rare debt instrument- in a move that analysts say ... investment appetite amid the euro-zone debt crisis and the halting recovery in the United States. The energy-to-infrastructure conglomerate, which is controlled by Li Ka-shing, yesterday said ...

  8. Banks watchdog may put off reckoning on local debt

    Posted Jan 13th 2012, 12:00am

    ... Lulu Chen lulu.chen@scmp.com The mainland's banking watchdog is likely to let lenders postpone a mandatory recognition of losses from local government debt, undermining ... credit analyst. 'Investors at home and abroad will eventually demand higher risk premiums on banks' debt.' For the past two years, the China Banking Regulatory Commission (CBRC) ...

  9. Bank's rise in bad loans heightens debt concerns

    Posted Jan 07th 2012, 12:00am

    ... squeeze in the second half of last year. However, many analysts do not expect NPL ratios to jump significantly among Chinese lenders as they expect the banks to simply make pre-emptive debt ... issue,' he said. Most Chinese banks report their annual results in March. Analysts said Chinese banks have not experienced a credit downturn since the government decided to clean up the bad debts ...

  10. It's panic stations as the debt train starts to pull in

    Posted Oct 21st 2011, 12:00am

    ... Tom Holland As the signs mount that the nation's economy is slowing, two announcements yesterday show how Beijing is getting increasingly nervous about the debts piled up by different ... by fiscal transfers from Beijing, but even so the local governments were still over a trillion yuan in the red last year. As a result, local government debts have ballooned, reaching 10.7 trillion, ...




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