Beijing is getting increasingly nervous about the rapid build-up of debt in industries such as steel and power, as cooling demand and overcapacity cause delays in payments amid the slowest economic growth in three years.Thursday, 30 August, 2012, 3:17am
China Petroleum & Chemical (Sinopec) is being constrained in its quest to buy its parent's overseas assets.
Its high debt burden and tight cash flow amid adverse market conditions mean that will not happen any time soon, Sinopec's chairman says.28 Aug 2012 - 3:38am
Beijing is readying twin initiatives to curb opaque financing practices that threaten the stability of the country's US$864 billion investment trust industry and booming corporate paper market, sources say.18 Aug 2012 - 3:10am
Sanko Line, Korea Line and subsidiaries of Berlian Laju Tanker are among a steady stream of Asian and Western shipping companies that have sought bankruptcy protection in recent months, victims of weak freight rates and haemorrhaging cash reserves.13 Aug 2012 - 9:46am
In a case that could dramatically change the city's lending industry, a court ruled that a cash-advance product offered to businesses is not a loan and does not breach the Money Lenders Ordinance.
Global Merchant Funding Limited was cleared yesterday of one charge of carrying on business as an unlicensed money lender after a trial at Eastern Court.14 Jul 2012 - 12:00am
Last night the People's Bank of China cut interest rates for the second time in just four weeks.
The surprise reduction is sure to stoke fears that the mainland's second-quarter economic growth rate - due to be announced next week - will be even weaker than the 7.5 per cent or so that analysts were expecting.6 Jul 2012 - 12:00am
As the euro-zone sovereign debt crisis and the faltering US economy cast a pall over global markets, the initial public offering (IPO) market is drying up, forcing European companies to be more inventive about raising money.3 Jul 2012 - 12:00am
Profitability of mainland banks will be hit this year as the government liberalises interest rates, says Standard & Poor's.16 Jun 2012 - 12:00am
The president of the Postal Savings Bank of China (PSBC), who has been taken into custody on suspicion of having committed economic crimes, is found to have been involved in illegal fund-raising activities as well.
The revelation is a fresh sign that lax supervision had made the lender vulnerable to irregularities.13 Jun 2012 - 12:00am
Second-tier banks followed major lenders in offering higher deposit rates than the benchmark, boosting competition in the finance sector after a recent move towards interest rate deregulation.12 Jun 2012 - 12:00am