Votes are currently being tallied for Tuesday’s presidential election in Kenya, in which relations with China comprised a major campaign theme. The two main candidates, former deputy president William Ruto and former prime...
Last week, the Zambian government announced that its creditors—a coalition of French and Chinese lenders that includes China Exim Bank—would cancel $2 billion of the country’s $17 billion external debt. The landmark debt...
The following censorship instructions have been leaked and distributed online. China Construction...
A key measure of Chinese manufacturing activity edged into positive territory last week, as the official Purchasing Managers Index (PMI) rose from a September level of 49.8 to 50.2 for October. The expansionary figure represents...
Despite suggestions last week that the yuan exchange rate had reached equilibrium and hints of possible liberalization in its trading range, officials at the People’s Bank of China set the yuan’s U.S. dollar...
From Bloomberg News via the International Herald Tribune (link) China’s banking regulator has warned state-owned lenders, including Bank of China, for the second time in five months after discovering 750 million yuan of fraud related to bank bills. The amount is equivalent to $94 million. “Some banks and their branches are blindly developing bill business […]
From the Financial Times (link) At first glance, Beijing would appear to have tackled head-on the mountain of bad debt in its state banking system, debt which has built up over some 20 years since the government began opening the economy in the late 1970s. In 1999 the government established bad-debt disposal companies to sell […]
From the Financial Times (link) China’s total liabilities for non-performing loans may be as high as $900bn, dwarfing official estimates and outstripping the country’s massive foreign exchange reserves, according to a study of Beijing’s bad debt problem. The study, part of Ernst & Young‘s annual global survey of NPLs, says China’s big four state banks […]
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