Bloomberg conducted a study that showed that companies in China since the beginning of 2019 defaulted on domestic bonds for a total of 39.2 billion yuan. The indicator increased 3.4 times compared to the same period a year earlier. These data allowed the agency to come to the conclusion that this year China could be threatened with the largest default in its history of 13 trillion dollars. Experts note that compared to 2016, when the risks of default were concentrated in the first half of the year, the number of defaults announced by companies this year grows 3 times faster, which could lead to new default highs in the domestic Chinese bond market. The main reasons for the current situation are the further reduction of the PRC banking sector and the measures taken by the state to reduce the shadow banking system.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
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Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
The dollar was under pressure on Monday as the escalating U.S.-China tensions weighed on the market, while investors worried that the U.S. coronavirus resurgence could stall economic recovery. The dollar fell to a four-month low on the yen ...