Business

China's new home prices in Oct fell by the most since February 2015

FILE PHOTO: Apartment blocks are pictured in Beijing, China December 16, 2017. REUTERS/Jason LeeBEIJING (Reuters) – China’s October new home prices fell 0.2% month-on-month, the biggest decline since February 2015, amid continued demand weakness across the country with authorities holding the line on purchase restrictions to deter speculators. New home prices rose 3.4% year-on-year in […]

World News

‘Developing all their systems!’ China’s space technology causing a threat amid tensions

COP26: Boris Johnson defends China's absence from summit We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info Lieutenant General B Chance Saltzman, 52, said […]

Economy

Troubles in China's 'Christmas town' mean higher holiday prices

BEIJING (BLOOMBERG) – This year, the Chinese city of Yiwu – the world’s biggest hub for the manufacture of plastic reindeer, twinkle lights and other Christmas paraphernalia – is feeling a Grinch-like pinch. Factories are being hit by a shortage of raw materials that’s raising their production costs, and once goods are on their way […]

Business

China Oct official services PMI falls to 52.4 vs 53.2 in Sep

FILE PHOTO: A woman gets her phone’s QR code of the digital payment services scanned at a food shop, following the coronavirus disease (COVID-19) outbreak, in Shanghai, China October 10, 2020. REUTERS/Aly Song(Corrects month in final paragraph) BEIJING (Reuters) – Activity in China’s services sector grew at a slower pace in October, official data showed […]

Business

China's Evergrande resumes work on more than 10 projects

FILE PHOTO: An aerial view shows residential buildings at the construction site of Evergrande Cultural Tourism City, a China Evergrande Group project whose construction has halted, in Suzhou’s Taicang, Jiangsu province, China October 22, 2021. REUTERS/Xihao JiangBEIJING (Reuters) -China Evergrande Group said on Sunday it had resumed work on more than 10 projects in Shenzhen, […]

Business

Factbox-China Evergrande's upcoming bond coupon payments

SHANGHAI (Reuters) – China Evergrande Group on Friday confounded market expectations that it would formally default this weekend, supplying funds to pay interest on a U.S. dollar bond before the expiration of a 30-day grace period on Oct. 23.A man walks past a No Entry traffic sign near the headquarters of China Evergrande Group in […]

Business

China's new construction starts plunge as chill spreads across sector

FILE PHOTO: A man rides a bicycle next to a construction site near residential buildings in Beijing, China, January 13, 2021. REUTERS/Tingshu WangBEIJING (Reuters) – China’s September new construction starts slumped for a sixth straight month, the longest spate of monthly declines since 2015, as cash-strapped developers reined in investment and put a pause on […]

Business

Evergrande debt woes are manageable, China central bank official says

SHANGHAI (Reuters) -The spillover effect of China Evergrande Group’s debt problems on the banking system is controllable, a central bank official said on Friday, in rare official comments on a liquidity crisis at China’s No. 2 developer that has roiled global markets.FILE PHOTO: The logo of China Evergrande is seen at outside China Evergrande Centre […]

Business

Evergrande misses 3rd round of bond coupon payments, raising contagion fears

HONG KONG (REUTERS) – China Evergrande Group on Tuesday (Oct 12) missed its third round of bond payments in three weeks, intensifying market fears over contagion involving other property developers as a wall of debt payment obligations come due in the near term. Some bond holders said they did not receive coupon payments totalling US$148 […]

Business

China's central bank governor vows more fintech crackdown

SHANGHAI (BLOOMBERG) – China will continue taking steps to curb monopolistic behavior among internet platform companies and strengthen the protection of consumer privacy and data security, central bank Governor Yi Gang said. “We will continue to cooperate with anti-monopoly authorities to curb monopolies and actively deal with algorithm discrimination and other new forms of anti-competition […]