• Sat
  • Aug 2, 2014
  • Updated: 10:10am

Credit

China retail sales lead business activity weakness, survey finds

Slowing retail sales stand out as the primary drag on the mainland's economic growth so far this year, while activity in almost every other business sector sagged, the latest quarterly China Beige Book survey found.

Saturday, 22 March, 2014, 4:58am 11 comments

Defaults, restructurings to rise as Chinese firms' debt soars

Mainland corporate debt has hit record levels and is likely to accelerate a wave of domestic restructuring and trigger more defaults as credit repayment problems rise.

27 Feb 2014 - 4:38am

Lending adds increasingly less to Chinese GDP, pressuring Premier Li

The government's broadest measure of credit rose 58 per cent to a record 6.16 trillion yuan (HK$7.8 trillion) in the January-March period, when gross domestic product gained 7.7 per cent, compared with 8.1 per cent a year earlier. Each US$1 in credit firepower added the equivalent of 17 US cents in GDP, down from 29 cents last year and 83 cents in 2007, when global money markets began to freeze.

31 May 2013 - 3:49am

IMF warns China of risks in investment binge

The International Monetary Fund has urged self-discipline on China's provincial and city governments, warning headlong investment fuelled by rapid credit growth may threaten economic sustainability. The IMF's alert underscores the challenges facing the mainland's new leaders as they seek to lessen financial risk while keeping economic growth stable.

30 May 2013 - 3:49am

Concern raised over China credit growth

Total lending from banks and other financial institutions on the mainland was 198 per cent of gross domestic product last year, compared with 125 per cent four years earlier, according to calculations by Chu, the company's Beijing-based head of China financial institutions.

30 May 2013 - 4:33am

Cyprus to reopen banks, impose capital controls

Cyprus reopens its banks on Thursday while limiting withdrawals, banning cheques and curbing the use of Cypriot credit cards abroad, among measures imposed to avert a bank run after it agreed a tough rescue deal with international lenders.

28 Mar 2013 - 8:02am

What 'pivot'? Real US-China war will be over money

Anyone who fears that Washington's "pivot" towards the Pacific increases the risk of conflict between the United States and China is behind the times.

America and China are already at war. Only the battle ground isn't the East China Sea. It's money.

13 Sep 2012 - 3:14am 3 comments

If this is a bubble, it is not about to burst any time soon

A reader has written in to take issue with a column from a couple of weeks ago which argued that despite the steep run-up in Hong Kong's housing prices over the last few years, there are still no signs of a classic credit-fuelled property bubble.

15 Aug 2012 - 11:15pm

Mainland agency aims to boost its global rating

A mainland credit ratings agency wants to break into the global market by rating yuan-denominated bond issuers in Hong Kong.

15 Aug 2012 - 10:47pm

Loans system revamp boosted amid lack of trust

The central government's plan to expand a planned revamp of the national financial loans system is a reflection of authorities seeking to combat rising moral degradation.

Analysts say the move also suggests that the government recognises that the public is becoming increasingly distrustful amid widespread corruption, negligence of duty and other malpractice among officials.

31 Jul 2012 - 12:00am

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