At the end of June, China had 14.43 million people who were listed by the courts as “persons who have lost credibility”, the equivalent of just over 1 per cent of the total population, official data showed. Most were placed on the blacklist due to unpaid debts. Photo: Bloomberg

China court approves personal bankruptcy ruling that could pave the way for further debt cases

  • A court in Wenzhou, Zhejiang province, says a local man only has to repay 1.5 per cent of his 2.14 million yuan (US$300,000) of debt to creditors
  • China is in the process of establishing personal bankruptcy rules amid a surge in the household debt-to-gross domestic product ratio
Topic |   China economy

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At the end of June, China had 14.43 million people who were listed by the courts as “persons who have lost credibility”, the equivalent of just over 1 per cent of the total population, official data showed. Most were placed on the blacklist due to unpaid debts. Photo: Bloomberg
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The International Monetary Fund said automation displaced more jobs in rich countries than China’s growing productivity. Photo: SCMP

‘China’s rise’ cannot be blamed for regional job losses in developed countries, IMF finds

  • Competition from China is not the primary reason for regional job losses in rich countries, new International Monetary Fund (IMF) research finds
  • Study finds technological advancement is bigger driver of unemployment, undermining populist argument China is stealing manufacturing jobs
Topic |   China economy

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The International Monetary Fund said automation displaced more jobs in rich countries than China’s growing productivity. Photo: SCMP
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