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  1. News - China

    Wen urges action on Europe debt crisis

    Posted Aug 30th 2012, 11:22am by Associated Press in Beijing

    ... Associated Press in Beijing Expressing alarm at Europe’s debt problems, Chinese Premier Wen Jiabao called on Greece, Spain and Italy to embrace budget cuts and get their finances in order after meeting Thursday with visiting German Chancellor Angela Merkel. Merkel was in Beijing for talks aimed at boosting trade and allaying Chinese fears about Europe’s heavy government debts ...

    http://www.scmp.com/news/china/article/1026213/wen-urges-action-europe-debt-crisis
  2. 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 ...

    http://www.scmp.com/article/1005110/policy-u-turn-debt-piles
  3. Beijing's level of debt casts doubt on credit rating

    Posted May 15th 2012, 12:00am

    ... Lulu Chen lulu.chen@scmp.com Beijing faces a bumpy road ahead as it tries to wean itself from relying too heavily on investment to drive the economy, and as debt accumulated during ... a sovereign credit perspective, debt migration from the rest of the economy onto the government balance sheet was raising concerns. Apart from central government debt, contingent liabilities ...

    http://www.scmp.com/article/1001069/beijings-level-debt-casts-doubt-credit-rating
  4. Good money tossed after bad on local-debt pile

    Posted Jul 09th 2011, 12:00am

    ... Toh Han Shih hahshih.toh@scmp.com Beijing's solution to the debt plague afflicting local government infrastructure projects appears to be to throw more money at it. On Tuesday, ... defaults there will be a 'chain reaction across China'. That's because, according to the National Audit Office, local government debts totalled 10.7 trillion yuan by the end of last ...

    http://www.scmp.com/article/972958/good-money-tossed-after-bad-local-debt-pile
  5. 2.8tr yuan in 'safe' local government debt gets reclassified

    Posted Aug 16th 2011, 12:00am

    ... of debt that local governments have amassed. Roughly 70 per cent of the more than 9 trillion yuan (HK$10.96 billion) that banks have lent to LGFVs is unlikely to be completely repaid ... of the debts,' said an analyst at a brokerage in Beijing who would not be named. How Beijing handles the 70 per cent of LGFV loans in doubt of repayment will be crucial to the financial system. ...

    http://www.scmp.com/article/976290/28tr-yuan-safe-local-government-debt-gets-reclassified
  6. Beijing urged to join forces at G20 for debt rules

    Posted Aug 11th 2011, 12:00am

    ... regulations on sovereign debt and rating agencies. The call came after worries about the US and European debt crises plunged world markets into turmoil last week. Many developing nations- particularly ... in the mainland's investment sector, said Beijing should team up with others to push for global disciplinary action over sovereign debt. 'The IMF should set a limit of a country's net sovereign ...

    http://www.scmp.com/article/975866/beijing-urged-join-forces-g20-debt-rules
  7. A runaway debt bill that's gathering speed

    Posted Jun 15th 2011, 12:00am

    ... of this year. Final figures for 2010 have not been disclosed yet, but according to a study by Beijing-based research firm GaveKalDragonomics, the railways ministry's debt probably totalled 1.5 ... recently said the railway debt was manageable. But others don't like the trend. 'So far the railway debt is not a concern, but going down the road, it is a concern,' says Karen Li, ...

    http://www.scmp.com/article/970656/runaway-debt-bill-thats-gathering-speed
  8. The threat posed to Beijing by bad debts

    Posted Mar 11th 2010, 12:00am by Staff Reporter

    ... debts sloshing within the mainland financial system, and they are not properly recorded on the national balance sheet. Most of them are legacy debts accumulated during the Jiang era, and large ... defaulters. Their debts and sometimes all their assets are taken over by other state-owned companies and local governments in order to keep operations running and jobs afloat- all for the sake ...

    http://www.scmp.com/article/708263/threat-posed-beijing-bad-debts
  9. 26b yuan set aside for road debts and jobs for laid-off toll workers

    Posted Jan 13th 2009, 12:00am by Staff Reporter

    ... Woods Lee Beijing will give 26 billion yuan (HK$29.5 billion) a year to provincial governments to help them pay off unpaid highway construction debts and find jobs for toll gate workers ... 'The policy design looks reasonable, but before granting money to provincial governments, Beijing has to figure for sure the size of the debts incurred by local governments in highway ...

    http://www.scmp.com/article/666795/26b-yuan-set-aside-road-debts-and-jobs-laid-toll-workers
  10. Datang floats debt to fund spending

    Posted Mar 05th 2008, 12:00am by Eric Ng

    ... of regional utilities research. He estimated next year's expenditure to be between 15 billion and 20 billion yuan, as the firm's net debt-equity ratio rises to 290 per cent by the end ...

    http://www.scmp.com/article/628634/datang-floats-debt-fund-spending

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