While much of the Western developed world was glued to the mutiny in Russia over the weekend, much of the developing world contemplated a debt crisis that has both governments and individual families struggling to pay their...
Nov 13, 2020
After Shanghai’s stock exchange abruptly suspended Ant Group’s initial public offering just 10 days after Jack Ma delivered a blistering speech comparing Chinese regulators to a “geriatric club” intent on “feeding dementia...
May 27, 2019
The following censorship instructions have been leaked and distributed online. China Construction...
Jun 23, 2017
In February, Yu Huan from Liaocheng in Shandong received a life sentence for stabbing several loan...
Mar 28, 2017
The Supreme People’s Procuratorate, China’s top prosecutor, over the weekend decided...
Aug 19, 2013
Shenmu is a dried up boom town in northwestern China that illustrates the effects of China’s...
Sep 11, 2012
As if the mounting pile of failed loans to local governments isn’t enough of a concern on its own, The Diplomat’s Minxin Pei writes that the hidden debt – the product of off-balance sheet “shadow...
Apr 11, 2010
From the Financial Times: China’s top bank regulator has expressed concern over loans made to local government companies, saying Beijing was prepared to dispatch investigators across the country to check the debt carried by...
Feb 21, 2010
From the Herald Sun: The China Banking Regulatory Commission tightened rules on personal and working capital loans to bar them from being used for speculation. Lenders shouldn’t “over-grant” the loans that...
Jul 1, 2008
From Reuters: The International Monetary Fund’s country representative for Congo, Xavier Maret, said the $9 billion mining and infrastructure partnership with China signed by Kinshasa this year had raised questions about...
Sep 1, 2007
A new McKinsey survey reveals some unexpected information about the financial habits of wealthy Chinese. From the Financial Times: The management consultancy said that 31 per cent of affluent people surveyed in mainland China were now interested in borrowing, a “surprising” jump from 19 per cent in 2004, when it last carried out its Asian […]
Aug 2, 2007
From Caijing.com.cn: The People’s Bank of China ‘s Shanghai branch has warned commercial bank lenders about the risks involved in extending credit lines to octopus-like company groups. In a first-of-its-kind report released July 31, the central bank cited two examples of credit abuse by unnamed groups, although Caijing has learned that the questionable borrowers were […]
Jul 21, 2007
From People’s Daily Online: Chinese auditors have identified more than 9.3 billion yuan (1.2 billion U.S. dollars) of questionable loans in three top commercial banks, the National Audit Office (NAO) announced on Friday. The three banks are the Bank of China (BOC) ,the nation’s second largest bank, the Bank of Communications , the fifth largest, […]
Jul 3, 2007
From Xinhua: Many Chinese colleges and universities are owed millions of yuan because students are unable to, or choose not to, pay back tuition loans, the Ministry of Education said on Monday. “We have found that many universities and colleges have several million yuan of defaulted tuition fees, some have nearly a billion,” Cui Bangyan, […]
Jun 18, 2007
From BBC News: China’s banking regulator has punished eight banks for illicity lending money to two state bodies that invested the cash in the stock and property markets. The China National Nuclear Corporation and China Shipping Group illegally used the billions of yuan loaned to them. The China Banking Regulatory Commission (CBRC) has now punished […]
Jun 17, 2007
After the success of Micro-lending in Bangladesh, China began to open rural community loans to farmers. From People’s Daily Online: China has opened 18 rural community banks by the end of May offering farmers easier access to loans and providing credit to businesses in the countryside that want to expand. The small lenders include nine […]
Feb 19, 2007
From Reuters, via The International Herald Tribune: China has long struggled to channel lending to rural China, from which mainstream banks have largely retreated. But now that the big city-oriented state banks have been more or less nursed back to health, the Communist Party is switching gears and backing an array of initiatives to build […]
May 20, 2005
In the New York Times, columnist Paul Krugman writes: Over the last few years China, for its own reasons, has acted as an enabler both of U.S. fiscal irresponsibility and of a return to Nasdaq-style speculative mania, this time in the housing market. Now the U.S. government is finally admitting that there’s a problem – […]
CDT in the News
- Journal of Contemporary China – Invented Borders: The Tension Between Grassroots Patriotism and State-led Patriotic Campaigns in China
- NYT – A Tiananmen Square Musical Worries About China’s Glare
- Global Voices – In China, questions remain ahead of Huawei’s launch of the Mate 60 phone series
- Rest of World – Heavily persecuted, highly influential: China’s online feminist revolution
- Sky News – Chinese state media appears to censor one of its own videos