After a decades-long infrastructure spending spree, many of China’s local governments now find themselves saddled with unsustainable levels of debt and a surplus of vastly ambitious but often underutilized infrastructure...
Over the past few weeks, tens of thousands of Chinese homebuyers have banded together and refused to continue paying mortgages on unfinished homes. Homebuyers in China frequently purchase “pre-sale” homes long before developers...
The New Yorker’s Jiayang Fan examines China’s plans for a comprehensive social credit...
The Chinese government is preparing to launch a controversial credit score system that will...
Credit Rating agencies have taken action on China over the past two weeks, expressing concern over the risks posed by excessive government borrowing, as Fitch cut its long-term local currency rating and Moody’s lowered its...
Bloomberg reports that China’s largest banks posted impressive profits while their European and American counterparts posted losses: Industrial & Commercial Bank of China (601398) Ltd. posted a 29 percent increase in...
Although President Obama signed a bill to raise the U.S. debt ceiling yesterday, today a Chinese credit agency Dagong Global Credit Rating Company has downgraded its credit rating for the U.S. From CNN: The Dagong Global Credit...
With the Chinese yuan rising 0.41 percent versus the dollar in the last two weeks, China’s five-year notes and comparable U.S. Treasury issues was at a record high yesterday. The growing strength of the yuan was boosted...
From AP: A Chinese firm that aims to compete with Western rating agencies declared Washington a worse credit risk than Beijing in its first report on government debt Sunday amid efforts by China to boost its influence in global...
From BusinessWeek: Standard & Poor’s Ratings Services raised its long-term sovereign credit rating on the People’s Republic of China on July 27 to A from A-. The outlook is stable. At the same time, Standard & Poor’s raised its long-term credit ratings on China Development Bank and Export-Import Bank of China to A from A-. […]
From Bloomberg News: China may earn a higher credit rating from Moody’s Investors Service after repaying international debt, boosting reserves and bailing out banks. Moody’s today raised the outlook for the A2 rating on China’s long-term foreign-currency bonds to positive from stable, it said in a statement. The rating, last raised in October 2003, ranks […]
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