One in 5 Chinese young adults looking for work is unemployed. The lack of work slows down the whole economy
In June, China’s National Bureau of Statistics reported that employment for ages 16 – 24 hit a record high of 21.3%…
Chinese hackers stole millions worth of U.S. COVID relief money, Secret Service says
Chinese hackers stole millions worth of U.S. COVID relief money, Secret Service says
Chinese tourist hot spot Sanya imposes COVID lockdown
SHANGHAI — The southern Chinese resort city of Sanya imposed a lockdown on Saturday and restricted transport links to try to stem a COVID-19 outbreak that comes as some 80,000 visitors were enjoying its beaches at peak season. The curbs came into force at 6 a.m…
Chinese military says it conducted readiness patrol around island of Taiwan
BEIJING — The Chinese military said on Wednesday it had conducted in recent days a combat readiness patrol in the sea and airspace around the island of Taiwan, which China claims as its own territory. The troops have continually strengthened their training and preparedness for war…
Chinese, Australian Investors Battle for Largest Lithium Deposit
By Michael J. Kavanagh (Bloomberg) — Australia’s AVZ Minerals Ltd. is battling to retain control of what is potentially the world’s largest untapped lithium deposit amid ownership claims from Chinese investors, according to Boatman Capital. AVZ’s interest in the Manono lithium project in the Democratic Republic of Congo could fall to 36% from 75%…
Chinese developer Sunac misses bond repayment, expects to miss more
HONG KONG — Developer Sunac China missed the deadline for coupon payments on a $742 million offshore bond and said on Thursday it doesn’t expect to make payments coming due on other bonds, adding to a wave of defaults in China’s debt-laden property sector. A source close to the company…
Chinese property platform KE Holdings to list shares in Hong Kong
HONG KONG — Chinese property platform KE Holdings Inc said on Thursday it would list its shares in Hong Kong without raising capital, as a growing number of U.S.-listed Chinese firms carry out so-called “homecoming” listings. The New York-listed company, which operates online property platform Beike matching buyers and sellers of real estate…
Tens of millions of Chinese people are back in strict lockdown. Residents say they feel ‘trapped.’
Surging numbers of virus cases prompted the new measures. Daily increases of more 1,000 cases are a warning, one expert said…
Shares of Chinese developer Kaisa and units suspended as debt woes mount amid fears of contagion from Evergrande’s crisis
Kaisa’s troubles come amid concerns about a deepening liquidity crisis in the Chinese property sector…
Chinese developer Modern Land asked for an extension to repay a $250 million bond. Its chairman and president have pledged to pay off around $123 million in shareholder loans in the meantime.
Modern Land’s chairman and president said they would pump in $123.9 million to help offset the company’s debt, which comes due on October 25…
Chinese ports choke over ‘zero tolerance’ COVID-19 policy
BEIJING — Several Chinese ports are facing congestion as vessels due to call at Ningbo are bing diverted and cargo processing is slowed partly due to stricter disinfection measures under China’s “zero-tolerance” coronavirus policy. On Tuesday, more than 50 container vessels were queuing at Ningbo port, China’s second largest marine center, Refinitiv data showed, up…
Chinese ride-hail giant Didi is reportedly eyeing a $70 billion valuation for its upcoming US IPO
Didi Chuxing, which roughly translates to “beep beep travel,” is making its US debut in an especially hot market for deals.
Soybeans fall 1%, Chinese demand limits losses
CANBERRA — U.S. soybean futures fell 1% on Monday as the dollar strengthened, although strong Chinese demand limited the losses. FUNDAMENTALS * The most-active soybean futures on the Chicago Board Of Trade were down 1.1% to $13.80-1/4 a bushel by 0131 GMT, having firmed 5% percent on Friday. * Corn futures fell 1.3% to $6.46-3/4…
Chinese tech groups scrap IPOs at record pace after Ant listing pulled
Companies cancel plans to sell shares on Shanghai’s Star Market as regulatory scrutiny rises
Chinese Stocks Slump as Upbeat Data Deepens Liquidity Concerns
China’s stocks slumped, as a neutral lending stance from the central bank and data showing surging economic activity renewed concerns about tightening liquidity.