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Shimao - 1 Chuanyi Zhou - 1 Yuzhou - 1 Edward Al - 1 Clare Jim - 1 Xie Yu - 1 Davide Barbuscia - 1 Sumeet Chatterjee - 1
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☆ Analysis: China property creditors face worsening restructuring terms as sector recovery hopes sour
  + stars: | 2023-10-11 | by ( Clare Jim Xie Yu Davide Barbuscia | Clare Jim | Xie Yu | ) www.reuters.com   time to read: +6 min
Developers, financial advisers and bondholders said that could make debt restructuring terms much worse than expected earlier. DEFAULTING DEVELOPERSThe property sector accounts for roughly a quarter of the world's second-largest economy. That could trigger off one of the world's biggest debt restructuring exercises. However, a turnaround (in the property sector) may need more," said Chuanyi Zhou, Asia corporate analyst at Columbia Threadneedle Investments, which holds Sunac's bonds. Chinese policymakers rolled out a range of support measures in late August and early September to revive the property sector.
Persons: Shimao, Chuanyi Zhou, Yuzhou, Edward Al, Clare Jim, Xie Yu, Davide Barbuscia, Sumeet Chatterjee, Kim Coghill Organizations: HONG KONG, JPMorgan, HK, Shimao, CIFI Holdings, Columbia Threadneedle Investments, Developers, Reuters, Kaisa, Columbia, China Index Academy, Thomson Locations: HONG, China, Asia, Hong Kong, New York
☆ Workers in China flee major iPhone factory amid Covid curbs
  + stars: | 2022-10-31 | by ( ) www.nbcnews.com   time to read: +3 min
Late on Saturday, cities near Zhengzhou, including Yuzhou, Changge and Qinyang, urged Foxconn workers to report to local authorities in advance before heading home. Apple did not immediately reply to a Reuters request for comment on the Foxconn situation. Photographs and videos circulating on Chinese social media since Saturday showed Foxconn workers, apparently returning home, trekking across fields in the day and along roads at night. In a show of support, residents in the vicinity left bottled water and provisions next to roads with signs such as: “For Foxconn workers returning home,” according to social media posts. “Some people were walking amid wheat fields with their luggage, blankets and quilts,” one user on WeChat, a popular social media platform, wrote about the images.
☆ Chinese cities brace for wave of Foxconn workers from COVID-hit Zhengzhou
  + stars: | 2022-10-30 | by ( ) www.reuters.com   time to read: +3 min
Taiwan-based Foxconn, which has about 300,000 workers in Zhengzhou, has not disclosed the number of infected workers. On Oct. 19, Foxconn banned all dining-in at canteens and required workers to take their meals in their dormitories, but assured that production was normal. Photographs and videos circulating widely on Chinese social media since Saturday showed Foxconn workers trekking across fields in the day and along roads at night. "They were Foxconn employees who escaped from the factory and were walking home," wrote a user of WeChat in a post about the social media images. Returning workers are to travel "point-to-point" in pre-arranged vehicles en route, and are to be quarantined on arrival, they said in separate letters on their respective social media accounts addressed to Zhengzhou Foxconn workers.
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