Advertisement
Advertisement
-
TOPIC

Dealing with debt

Dealing with debt
Our millennial-focused articles on how to deal with debt, including credit card payments, banking, debt advice, debt support, creditors and money-saving.
An unfinished construction project is seen in China’s Anhui province. A number of local-level governments that lent to certain real estate and infrastructure projects have had trouble getting paid back amid a property slowdown. Photo: Getty Images
China's economic recovery

As Chinese provinces slash revenue outlook, analysts warn of debt control

Local governments seen curbing infrastructure spending as Beijing’s fiscal discipline pushes regions to prioritise social services and tech over large projects.

videocam
8
US-China relations

China dumps more US debt, buys other assets as Trump targets Powell

videocam
49
Banking & finance

China to hide bad debt records for pandemic-hit borrowers who repay small loans

videocam
China debt

In China, Ray Dalio discusses global debt issues as Beijing seeks his counsel

With local-level debt still posing risks in China, while US borrowing accelerates, Beijing turns to the Wall Street veteran for guidance while navigating precarious financial waters.

videocam
4
Billionaire global macro investor Ray Dalio, seen here in May 2024, spoke this week with top Chinese officials in Beijing. Photo: Reuters
China's economic recovery

Why China’s property crisis is putting tax overhaul on new 5-year plan agenda

For years, local budgets depended on booming land sales and VAT income. Now, both are falling – and Beijing faces some tough choices.

videocam
China debt

As China defuses its time bomb of debt, US hears the ticking intensify

Why do analysts see America’s debt situation as ‘more concerning’, and why is China’s situation a ‘big advantage’?

videocam
30
Advertisement
Advertisement
Advertisement
Hong Kong property

Exclusive | Airport Authority poised to part ways with New World in 11 Skies mall

Airport Authority is looking for a developer to undertake and complete the work at 11 Skies as it prepares to take back the project from NWD, several sources say.

25
11 Skies, part of the integrated development of the Hong Kong International Airport in Chek Lap Kok, pictured on June 17, 2024. Photo: Jelly Tse
Belt and Road Initiative

Time for China’s belt and road partners to pony up as debt comes due: think tank

Report by Lowy Institute finds that China has shifted from a net capital provider to developing countries to their biggest debt collector.

videocam
34
China's economic recovery

China names, shames 8 authorities after warning regions to curb hidden debt

Notices from top legislature and finance ministry come with debt management under the microscope amid scramble to achieve economic growth targets for 2024.

videocam
Thailand

Thailand plans a huge economic revamp to tackle its mountain of household debt

An estimated US$475 billion of debt is driving inequality, the government says – as Thailand’s economic growth lags behind its neighbours.

Stacks of 1,000 baht banknotes at a foreign currency exchange in Bangkok. The new government says it plan to push ahead with a controversial 10,000-baht cash handout plan Photo: AFP
China's economic recovery

China’s crippling local government debt is getting worse: S&P Global Ratings

After years of rapid debt growth from local government financing vehicles, some of China’s struggling regions are finding it difficult to reverse course.

5
Sprawling bridges, like this one being built in China’s Guizhou province, can raise debt levels among local governments. Photo: Xinhua
China economy

Editorial | Fiscal shake-up must be a success for sake of the China economy

Ambitious plan by third plenum aims to overhaul taxation system to help cash-strapped local governments and the people they serve.

Banking & finance

Chinese banks follow belt road to expand loan book amid tight liquidity at home

Chinese banks are heading overseas to extend yuan loans to fund Belt and Road Initiative projects

Trending in China

Arcade claw machine animation employed by China court to shame, catch debtors

A court in China has come up with an innovative new strategy to shame and track down fugitive debtors by using an amusement arcade claw machine animation.

A court has employed an animated version of an amusement arcade game which uses a mechanical claw to grab cuddly toys in an innovate bid to shame and catch fugitive debtors. Photo: SCMP composite/Weibo
China property

Hong Kong court adjourns Kaisa’s winding-up case to August 12

The Shenzhen-based company has tried to restructure its debt for more than two years since it defaulted on US$12 billion of offshore debts since late 2021.

A construction site by Chinese property developer Kaisa Group at an area of downtown Shanghai on February 17, 2015. Photo: Reuters.
Banking & finance

Chinese builder Road King warns of default risk unless creditors extend debt

Chinese developer Road King Infrastructure warns of default if its proposals to buy some bonds back at discounts and give the company more time to pay the rest of the debt, are rejected.

China debt

China’s ‘hidden debt’ seen shrinking, but scaling that mountain remains daunting

As Beijing continues to crack down on problematic local-level debt, economist Luo Zhiheng has run the numbers to estimate how much progress has been made.

videocam
Advertisement
Advertisement
Advertisement
Banking & finance

‘Rescue’ role of China’s distressed asset managers questioned amid property woes

China is seeking to defuse financial risks, with asset management companies expected to help other ailing sectors, particularly property developers, but the firms are already highly leveraged due to bond financing and exposure to the troubled real estate sector.

videocam
China’a asset management companies are increasingly expected to help keep other ailing sectors afloat, particularly the country’s embattled property developers. Photo: Xinhua
Millionaires and billionaires

Oaktree’s Inter Milan takeover deals final blow to Zhang’s Suning business empire

Zhang Jindong’s business empire was supposed to become the ‘Walmart plus Amazon’ of China. Instead, a soured bet on Italian football club Inter Milan has wiped out his billion-dollar fortune.

Banking & finance

China’s murky debt collections get new rules, like don’t harass borrowers

With household debt at worrisome levels, curbing consumption and China’s economic recovery, Beijing is interjecting in the largely unregulated process with new guidelines for issuing loans and collecting arrears.

videocam
International Monetary Fund (IMF)

With Chinese loans looming, Maldives gets IMF warning over ‘debt distress’

As of June 2023, the Export-Import Bank of China owned 25.2 per cent of the Maldives’ external debt and was the country’s biggest single lender.

A construction worker looks on as the China-funded Sinamale bridge is seen in Male, Maldives. Photo: Reuters
Banking & finance

UBS weighs bonus for investment bankers who refer rich clients

UBS may start rewarding its bankers for referring clients to the firm’s wealth management business, in a first for the Zurich-based lender

A company banner outside the UBS Group AG annual general meeting (AGM) at St. Jakobshalle in Basel, Switzerland, on Wednesday, April 24, 2024. Photo: Bloomberg
Banking & finance

The View | IMF, World Bank must do more to defuse the bomb of poor nations’ debt

The focus is on retooling current approaches when what debt-burdened countries need is an economic re-engineering to produce more lucrative goods and innovative ways to pay down debt using commodities.

videocam
Hong Kong property

Chinese tycoon Chen Hongtian faces demands from banks on overdue property loans

Chen Hongtian, who had snapped up mansions and offices in Hong Kong and London, faces demands from banks to repay more than US$200 million of overdue loans following the market slump.

videocam
China property

Country Garden seeks extension to three onshore bond payments amid cash crunch

Country Garden is pushing back some onshore bond payments to later dates despite a round of extensions last year, underscoring the financial stress at the Chinese property developer.

videocam
Residential buildings in Shanghai on April 8, 2024. Weak home sales are compounding the debt crisis among Chinese developers. Photo: Bloomberg
Insurance

China’s Fosun sells stake in Belgian insurer Ageas to BNP Paribas

More divestments to come, analyst says, as conglomerate aims to cut debts by US$1.38 billion annually in the next two to three years.

The logo of Fosun International is seen at a trade fair in Hong Kong in 2015. Photo: Reuters
China's economic recovery

‘We can’t fall behind’: China’s local debt woes hurt firms, create distrust

Wuhan University professor Feng Chuan says local government debt problems in China have torn apart the fundamental trust system that upholds social governance order.

4
Banking & finance

Chinese conglomerate Fosun dumps noncore assets, deleverages to boost financial profile

Chinese conglomerate Fosun International is rapidly offloading assets as it looks to lower debt and concentrate on sustainable businesses

Advertisement
Advertisement
Advertisement
Help preserve 120 years of quality journalism.
SUPPORT NOW
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement