Alex 'Sasha' Day

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China's 'Herd Mentality' Undermines Beijing's Interest-Rate Swap Market

SHANGHAI—The abnormal performance of China's 11-year-old interest-rate swap market during a recent bond rout offers fresh evidence of how hard it has been for Beijing to foster a culture of risk hedging in the world's third-largest bond market.<p>One of the most commonly used financial derivatives …

As China Piles on Debt, Consumers Seek a Piece of the Action

QIQIHAR, China — Over the past eight years, to the world’s growing alarm, China’s big state-owned companies and powerful local governments have borrowed trillions of dollars to get what they want.<p>Now, it’s Li Jing’s turn.<p>Ms. Li, a 33-year-old car saleswoman here in the middle of China’s declining …

Investor Who Lost Millions Finally Gives Up on His China Bet

Mark Hart spent seven years and $240 million waiting on a crash in China’s currency.<p>He lost sleep. He lost clients. He damn near lost his sanity.<p>And …

China’s plans to rule the seas hit trouble in Pakistan

China’s strategic ambition to extend its maritime power across the Indian Ocean is hitting severe obstacles in the giant, volatile Pakistani province …

China

Chinese labour activist says he was arrested due to factory's Trump links

Hua Haifeng spent weeks in detention after undercover investigation revealed abuse of workers at Ganzhou factory that makes shoes for Ivanka Trump’s brand<p>A Chinese activist who was arrested after investigating working conditions at a factory making Ivanka Trump-branded shoes has said he believes …

Yuan Rides a Roller Coaster in June as China Fights Market

China threw a lot at the yuan in June, tussling with traders to drag the currency higher.<p>Starting the month at a 2017 high, the yuan lost 0.6 percent …

China central bank to skip open market operations for fifth straight day: statement

SHANGHAI (Reuters) - China’s central bank said it will skip open market operations for the fifth day in a row on Thursday, as liquidity levels in the banking system were “relatively high”.<p>A man walks past the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing November …

Central Banks

As credit dries up, China's small firms face shrinking profits, bankruptcies

TIANJIN, China (Reuters) - The struggles of China’s small and medium-sized firms have grown so acute that many are expected to become unprofitable or even go belly-up this year, boding ill for an economy running short on strong growth drivers.<p>A worker uses a chainsaw to cut timber at a woodyard in …

China

They were detained while investigating brand Ivanka. Now China claims they stole commercial secrets.

By Emily Rauhala<p>, Reporter<p>BEIJING — Two days after the State Department called for the release of three activists detained while investigating working conditions at factories that make shoes for Ivanka Trump, Chinese authorities appear not to be backing off the case.<p>Reports published Wednesday …

Rest Assured. China Has Its Economy's Back

The People’s Bank of China has surprised many with its tolerance for market pain as it squeezes leverage in parts of the financial system.<p>But rest …

Why the Chinese Yuan Is at a 6-Month High; Will It Remain Strong?

Chinese Yuan

Behind China's Silk Road vision: cheap funds, heavy debt, growing risk

BEIJING (Reuters) - Behind China’s trillion-dollar effort to build a modern Silk Road is a lending program of unprecedented breadth, one that will help build ports, roads and rail links, but could also leave some banks and many countries with quite a hangover.<p>Beijing Olympic Park Observation Tower …

China

China’s War on Debt Causes Stocks to Drop, Bond Yields to Shoot Up and Defaults to Rise

Banks and companies scramble for funds after regulators push to rein in risk<p>BEIJING—A wave of regulations aimed at cutting risk in China’s financial system is rippling through the country’s markets and sending banks and companies scrambling for funds.<p>During the past month, Chinese shares have …

Stock Markets

China's credit expansion slows in Q1 - Business

BEIJING — China's banks extended 4.22 trillion yuan ($613 billion) in new yuan loans in the first quarter of 2017, down from 4.61 trillion yuan last …

Economics

China Moves to Make $9 Trillion Domestic Bond Market Global

The tide may slowly be turning for Chinese bonds.<p>Citigroup Inc. said Tuesday it will include onshore Chinese debt in some of its gauges, while the …

Measures to cool housing sector set to continue - Business

City-specific measures will continue to be used to help stabilize the healthy development of the housing market in cities at all levels, striking a …

Housing Market

China’s Latest GDP Target Has One Surprise

Over the weekend, China’s Premier Li Keqiang said GDP growth would hit “around 6.5%” annually, but the country would in practice “try to achieve a …

‘Bad Banks’ Spread Across China

Nearly 40 asset-management companies are vacuuming up bad debts, but it’s more like sweeping problems under the rug<p>China is going back to basics when it comes to bad-debt management.<p>Beijing has unveiled a slew of tactics to clean up the dud loans in its banks—from debt-to-equity swaps and bad-loan …

Stock Markets

Why "Made in China" could soon be a thing of the past

Rising wages in China are a double-edged sword for its economy.<p>For decades, China has held the status of “the world’s factory,” harboring the largest supply of inexpensive labor for industrial production across the globe. But as its economy has grown, so have wages — and now some are so high …

China May Lower Its 2017 Growth Target – Bloomberg

China May Lower Its 2017 Growth Target<p>China May Lower Its 2017 Growth Target<p>China May Lower Its 2017 Growth …

Hillary Clinton

China says economy faces global uncertainties, overcapacity at home

BEIJING (Reuters) - China’s economy faces risks from international uncertainties and excess factory capacity this year, the statistics bureau said on Tuesday.<p>FILE PHOTO: Residential buildings are seen in Beijing, China, January 10, 2017. Picture taken on January 10, 2017. REUTERS/Jason Lee/File …

China

Demand grows for construction behemoths

CHINA’S heavy machinery industry continues to rebound on the back of increased investment on infrastructure like railways, bridges and airports.<p>Last …

China's Landmark One-Child Policy Reversal Doesn't Seem to Be Working

The scrapping of China’s one-child policy in late 2015 was supposed to fix some looming problems.<p>Foremost, China’s rapidly aging population. People …

China summons reformer to tackle banking woes

BEIJING (Reuters) - Guo Shuqing, who is stepping down as governor of Shandong province to take control of China’s banking regulator, returns to Beijing at a decisive moment for the country’s financial system following years of breakneck economic growth.<p>FILE PHOTO: China Construction Bank Chairman …

China

China Faces the Impossible Trinity

For much of the past decade, Chinese policy makers sold the idea that it alone circumvented the impossible trinity, an idea proposed long ago by Robert Mundell and Marcus Fleming. To revisit the argument, the economists argued that out of the three options of free capital flow, a fixed exchange …

Interest Rates

Chinese yuan strengthens to 6.8806 against US dollar Tuesday - Business

BEIJING - The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 92 basis points to 6.8806 against the US dollar …

China

China's auto sales slow sharply in January - Business

BEIJING - The growth of auto sales in China slowed sharply in January, affected by holidays and reduced tax discounts, data from the China …

China

China crude steel output rises slightly in 2016 - Business

BEIJING - China's crude steel output rose slightly last year, according to the country's top economic planner on Monday.<p>Crude steel production …

China

Inflation in China is heating up fast

According to China's National Bureau of Statistics (NBS), PPI jumped by 6.9% from a year earlier, the largest annual increase reported since August 2011.<p>It was well above the 6.3% increase expected, and followed a 5.5% lift in the year to December.<p>For the month, producer prices increased by 0.8%.<p>A …

Economics