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China’s property market abuzz as authorities walk tightrope to recall illegal loans Letter circulating online requested the repayment of a loan and the interest ‘because the borrower failed to fulfil the purpose of the debt according to the loan agreement’ Outstanding household borrowing at the end of 2020 stood at 63.19 trillion yuan (US$9.7 trillion), the equivalent of 62 per cent of Chinese gross domestic product ....
China keeps interest rate unchanged for 11th straight month, rolls over 100 billion yuan of medium-term loans The rate on 100 billion yuan (US$15.37 billion) worth of one-year medium-term lending facility (MLF) loans to financial institutions is being kept steady at 2.95 per cent The People’s Bank of China (PBOC) also said the operation was a rollover of the same amount of maturing MLF loans due on Tuesday ....
China debt: government bonds defy global turbulence as US Treasuries lose ‘safe haven role’ Chinese government bonds have defied the turbulence rocking peers from Australia to Europe, offering a port in the global reflation storm. Foreign fund bought 93.6 billion yuan (US$14.4 billion) worth of Chinese debt in February, after adding positions at a record pace the previous month ....
American Rescue Plan: China worried about economic impact of Joe Biden’s US$1.9 trillion coronavirus bailout US President Joe Biden’s US$1.9 trillion American Rescue Plan received final approval from the US Congress on Wednesday It was signed into legislation on Thursday, but concerns have been raised about its potential to cause further financial market turmoil ....
African swine fever still ‘major risk factor’ for China as it bans Malaysian pig imports over outbreak fears The deadly African swine fever once killed half of China’s pig population, sending the price of pork skyrocketing, and six small outbreaks have been reported since the start of 2021 China banned all imports of pigs, boars and related products from Malaysia this week after it detected its first-ever African swine fever outbreaks last month ....