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Audit Reveals Growing Local Government Debt

A recent report from China’s National Audit Office shows an increase in borrowing at the local government level. The audit, which covered more than 200 local government financing vehicles, indicates that local debt has...

CDT Money: Uncertainty Looms in 2013

November data has reinforced the cautious optimism that began to creep into the Chinese economy in September, as factory output and retail sales reached eight-month highs and inflation remained under control. Not all signs...

Bank Lending Rises in May

Despite reports by state media last month that China’s “Big Four” banks had made almost no new loans in the first half of May, Reuters reports that bank lending for the month rose more than expected: New loans...

China Real Time Introduces China Econtracker

The Wall Street Journal’s China Real Time blog has launched a new online reference tool for viewing China’s economic statistics: To save China Real Time readers the trouble of fighting it out with journalists at the...

The Danger To China’s Economy

On the surface it might appear that China is faring these turbulent economic times well.  But buried beneath empty high-rise apartment buildings the shrinking middle-class cannot afford is an unstable economic foundation.  The...

China to Clean Up Billions Worth of Local Debt

Beijing is to take on some 2-3 trillion yuan of local government debts according to Reuters, hoping to stave off a wave of destabilising defaults in the future. As part of Beijing’s overhaul of the finances of...

China Raises Bank Reserve Level to Cool Credit

The Associated Press reports that China has moved to limit bank lending to prevent the economy from becoming overheated: Chinese leaders worry that a stimulus-driven torrent of lending is fueling a dangerous bubble in stock and...

Chinese Banks Find Their Credit In High Demand

From Washington Post: China’s state-owned banks have become a main engine of the global recovery, financing the construction of copper mines, purchase of airplanes, expansion of retail stores and other projects even as...

China Said to Plan Rules Tightening Capital of Banks

From Bloomberg: China plans to tighten capital requirements for banks, threatening to curb the record lending that’s fueled a 60 percent rally in the nation’s stock market, three people familiar with the matter said. The China...

China Faces Delicate Task Reining In Bank Lending

The New York Times reports: While banks in the United States and Europe are still reluctant to make loans because of fears they will not get their money back, Chinese banks issued a record 7.4 trillion yuan, or $1.1 trillion, in...

China Urges Action on Toxic Debt

From Wall Street Journal: Chinese financial officials called on the U.S. and other developed nations to do more to rein in protectionism and deal with toxic assets in their banking systems, reflecting the nation’s...

China Banks ‘Take Excess Risks’

From BBC News: Chinese banks’ surge in lending to support the government’s stimulus package is leading to excessive risk taking, said the Fitch ratings agency. Banks lent 5.2 trillion yuan ($762bn; £489bn) in the...

China’s Loan Binge: Stimulus or Insanity?

From Caijing Mazagine: China’s banks approved a combined 4.58 trillion yuan in new loans during the first quarter – a remarkable cash surge equal to the total amount of bank lending for all 2008. It shocked some to see the...

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