• Sat
  • Aug 30, 2014
  • Updated: 5:16am


Moody's warns on China local government debt, financing vehicles

The ability of the mainland's local governments to repay their debt is being questioned, with analysts warning that the liabilities may be underestimated. Increased use of irregular financing activities such as trust loans, leases, wealth-management products and project financing pose a risk to local government finances, Moody's analyst Debra Roane said in a report.

Monday, 17 June, 2013, 5:52am

China microlenders get death threats as they try to recover bad loans

The mainland economy decelerated to grow at 7.7 per cent in the first quarter, sending banks' non-performing loans (NPLs) climbing for a sixth consecutive quarter. There are no official statistics on the asset quality of privately owned credit firms, which mainly serve small and medium-sized enterprises (SME).

8 Jun 2013 - 3:39am

Premiums drop for top Chinese firms' debt

Top-rated companies on the mainland are paying the lowest premiums to sell debt in nearly 27 months, showing investor confidence in state-backed firms even as the overall economy flags.

7 Jun 2013 - 3:46am

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

China tightens rules for local government debt sales

The financing companies, set up by local governments to fund projects, would undergo extra scrutiny if their debt-asset ratio exceeded 65 per cent and the debt to be issued was rated below AA-plus, sources said, citing a notice from the National Development and Reform Commission earlier this month.

8 May 2013 - 5:41am

HNA-owned shipping firm Grand China Shipping chased for US$60m

Creditors are seeking at least US$60 million from Grand China Shipping (Hong Kong), a Hong Kong-registered shipping subsidiary of HNA Group, a leading mainland company which has financier George Soros as a shareholder.

25 Apr 2013 - 5:30am

Beijing urged to reform debt market

As mainland companies face growing difficulty getting credit from domestic banks or raising capital on the stock market, they are left to securing funds through large, long-term bond issues, says a top banker.

22 Apr 2013 - 2:50am

Fitch cuts China's credit score as debt increases

For the first time, Fitch Ratings has downgraded one of its sovereign ratings of China, citing the rapid expansion of credit in the country. The international ratings agency announced yesterday that it had cut China's long-term local-currency debt rating to A-plus from AA-minus.

10 Apr 2013 - 3:57am

Bank of East Asia sues Rafael Hui over alleged debts

In a writ filed with the High Court on Friday, the bank asks Hui for payment of all money due under the two overdraft facilities under two facility letters and two credit cards provided by the bank to Hui under a card holder agreement. The bank also wants him to pay interest and costs related to a breach of the terms of the facility letters and the agreement.

7 Apr 2013 - 5:28am 3 comments

West China to cut back on cement output

Huge infrastructure projects will drive demand for cement in Shaanxi province, but West China Cement will slow its capacity expansion in the next few years to lighten its debt burden. The Hong Kong-listed firm's cement production and sales are mostly in the northern province.

20 Mar 2013 - 4:35am