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The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. Evergrande was also banned from issuing new dollar bonds, a key part of its original restructuring plan, while its flagship mainland unit was being investigated by regulators. The biggest challenge ahead for Evergrande will be convincing its creditors and shareholders in the two Hong Kong-listed units that the new proposal is worthwhile, industry experts said. The ad hoc group of bondholders is unhappy about the revised terms offering equity in the Hong Kong-listed subsidiaries, according to sources. ($1 = 7.8239 Hong Kong dollars)Reporting by Xie Yu and Julie Zhu in Hong Kong; Additional reporting by Clare Jim; Editing by Scott Murdoch and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Evergrande, Hui Ka Yan, Xie Yu, Julie Zhu, Clare Jim, Scott Murdoch, Jamie Freed Organizations: China Evergrande Group, REUTERS, HK, Evergrande Property Services, New Energy Vehicle Group, Thomson Locations: China, Shenzhen, Guangdong province, HONG KONG, Hong Kong, Guangdong

Evergrande's lawyer said the company was working on a revised plan to "monetise the value" of its two Hong Kong-listed units - Evergrande Property Services Group (6666.HK) and Evergrande New Energy Vehicle Group (NEV) (0708.HK). Sources familiar with the matter told Reuters that plan included allowing Evergrande creditors to swap their debt into equity and bonds tied to these units. Evergrande, Evergrande Property Services and Evergrande NEV declined to comment. "Why would those shareholders want to see new debt issued to replace the existing debt issued by Evergrande, what is the benefit for them?" Evergrande's initial $23 billion offshore debt restructuring plan was thrown off course last month when its billionaire founder Hui Ka Yan was confirmed to be under investigation for suspected criminal activities.

Persons: Aly, Evergrande NEV, Mat Ng, Grant Thornton, Evergrande, Hui Ka Yan, Clare Jim, Xie Yu, Scott Murdoch, Miral Organizations: China Evergrande Group, REUTERS, Hong, Evergrande, Services, HK, New Energy Vehicle Group, Reuters, Evergrande Property, Thomson Locations: China, Shenzhen, Guangdong province, HONG KONG, HK, Hong Kong, Grant Thornton Hong Kong, SYDNEY

☆ Asian stocks slump to 11-mth lows as higher-for-longer rate fears persist
▼ + stars: | 2023-10-26 | by ( Xie Yu | ) www.reuters.com time to read: +4 min

Australian shares fell to a one-year low, as stronger-than-expected third-quarter inflation data raised bets that the central bank might raise rates next month. In the currency markets, the dollar index hit a two-week high of 106.77. By 0300 GMT the yen was trading at a one-year low of 150.43 per dollar. The Australian dollar fell to an almost one-year low of $0.6271 in morning trade. The New Zealand dollar also hit a nearly one-year low at $0.5776.

Persons: Androniki, Ben Luk, Seng, Brent, Gold, Xie Yu, Simon Cameron, Moore Organizations: Nikkei, REUTERS, Japan's Nikkei, Treasury, Multi, State Street Global, U.S, New Zealand, Thomson Locations: Tokyo, Japan, HONG KONG, U.S, Asia, Pacific, China, Hong Kong, Europe

HONG KONG, Oct 25 (Reuters) - Hong Kong's efforts to revive its shrinking stock market are mere stopgap solutions, as analysts say a reversal in fortunes for Asia's premier financial hub would not be possible without a major improvement in China's economic prospects. With a market value of around $4.3 trillion, Hong Kong is home to one of the top-ranked stock markets globally just behind those in the United States, Japan, China and Europe. New share offerings in Hong Kong have fizzled. Local media reported that a record 47 of the 638 trading participants on the Hong Kong exchange shut shop last year. Chinese firms listed in Hong Kong, such as tech giants Tencent (0700.HK) and Alibaba (9988.HK), comprise the bulk of the turnover on the Hong Kong exchange, leaving Hong Kong hostage to China's fortunes.

Persons: Hong, John Lee, Dickie Wong, Rob Brewis, Aubrey, Eddie Tam, Alvin Cheung, Cheung, ”, Alex Wong, Alex KY, Wong, who'd, Summer Zhen, Xie Yu, Vidya Ranganathan Organizations: Nasdaq, Kingston Securities, Seng China Enterprises, HK, Aubrey Capital Management, Hong, Asset Investments, Prudential, Asset Management Company, Global, Thomson Locations: HONG KONG, China, Hong Kong, United States, Japan, Europe, Shenzhen

☆ China Increases Bond Issuance to Help Its Economy
▼ + stars: | 2023-10-24 | by ( Stella Yifan Xie | Lingling Wei | ) www.wsj.com time to read: 1 min

A record number of Chinese college students graduated this summer, but landing their dream job may be a long shot. WSJ takes a look at why China’s youth unemployment is at all-time highs. Photo illustration: Adam AdadaChina ramped up efforts to stimulate its beleaguered economy, issuing additional sovereign bonds and raising its budget-deficit target, the first time it revised its budget outside the regular legislative session in more than a decade. The country’s top legislative body approved on Tuesday a plan to raise 1 trillion yuan, equivalent to around $137 billion, in additional sovereign debt, half for use before the end of this year and half for next year, according to the official Xinhua News Agency. Policy makers said the bond issuance was intended for infrastructure projects in the wake of severe flooding and other natural disasters, Xinhua reported.

Persons: Adam Adada Organizations: Xinhua News Agency . Locations: Adam Adada China

Governors of California, which has an economy larger than most countries, have a long history of climate collaboration with China. “It’s going to be very difficult to tackle the climate crisis just here in California,” Sanchez said. California Republicans said Newsom shouldn’t be visiting China at a time of tensions over international conflicts and the suppression of free speech. But climate experts said California has a significant role to play in advancing global climate policy. “There’s a natural role for California and the California governor.”___Megerian reported from Washington.

Persons: Gavin Newsom, Jennifer Siebel Newsom, Jerry Brown, Arnold Schwarzenegger, Brown, Chuck Schumer, Nancy Pelosi, Xi Jinping, Joe Biden, John Kerry, Xie Zhenhua, Xie, David Victor, ” Victor, ”, Newsom, Kerry, Lauren Sanchez, ” Brown, Sanchez, “ It’s, ” Sanchez, Biden, Ron DeSantis, Newsom shouldn’t, James Gallagher, “ Newsom shouldn’t, It’s, Nathaniel Keohane, ” ___ Megerian, Ken Moritsugu Organizations: —, Governors, China Climate Institute, University of California, U.S, ., U.S ., White, Democrats, Republican, Florida Gov, California Republicans, Center, Climate, Energy Solutions, Associated Press Locations: SACRAMENTO, Calif, — California, China, Hong Kong, Beijing, Shanghai, Guangdong, Jiangsu, He'll, Israel, California, Berkeley, United States, Taiwan, Dubai, Indonesia, U.S, San Diego, ” California, U.S . West Coast, Washington

☆ China's troubled property sector to face more debt defaults
▼ + stars: | 2023-10-20 | by ( Xie Yu | ) www.reuters.com time to read: +3 min

HONG KONG, Oct 20 (Reuters) - More debt defaults are likely to emerge in China's property sector as troubled developers struggle with a weak home sales outlook, while fund raising remains challenging, according to credit analysts. Counting October, there is a total of $60.5 billion worth of Chinese property bonds due in the next 6 months, with offshore bonds taking up at least one third of it, according to Dealogic data. The company said it was also prepared to formulate a reasonable debt repayment plan if it fails to repay bonds as they are due. Ricky Tsang, an analyst with S&P Global Ratings, said apart from the weak cash flow from home sales, fund raising for developers, particularly the private ones, remains tight. Reporting by Xie Yu in Hong Kong, Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

Persons: Ting Meng, Ricky Tsang, Tsang, Xie Yu, Raju Gopalakrishnan Organizations: HK, Ocean Group, Hong Kong Exchange, Dalian Wanda Group, Bloomberg, ANZ Bank China, Developers, Thomson Locations: HONG KONG, China, State, HK, Hong Kong

[1/5] A view of the residential apartments in Country Garden's Forest City development in Johor Bahru, Malaysia August 16, 2023. The group hired PJT Partners (PJT.N) as financial adviser to lead discussions with Country Garden, two people with knowledge of the matter said. Ratings agency Moody's said on Thursday it could downgrade Country Garden's (2007.HK) 'corporate family rating' if the recovery prospects for its creditors weaken further. Moody's said Country Garden's senior unsecured rating of C was already at the lowest of its rating scale. Country Garden and Frasers did not immediately respond for a request for comment on that sale.

Persons: Edgar Su, PJT, Moody's, Frasers, Houlihan Lokey, Sidley Austin, Yeung Kwok Keung, Yang Huiyan, Yeung, Yang, Cao Jianglin, Garden's, China Evergrande, Scott Murdoch, Xie Yu, Clare Jim, Anousha Sakoui, Liz Lee, Lewis Jackson, Kim Coghill, Christopher Cushing, Jamie Freed, Lincoln, Miral Fahmy, Jane Merriman Organizations: REUTERS, HK, PJT Partners, Garden's, Australian Financial, Reuters, China International Capital Corporation, Finance, HSBC, China National Agricultural Development, SOE, Thomson Locations: Garden's, City, Johor Bahru, Malaysia, China HONG KONG, Garden's Australian, Melbourne, China, Shunde, Guangdong province, Sydney, Hong Kong, London, Beijing, Sydndey

☆ California governor Newsom to visit China next week to discuss climate action
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

Gavin Newsom, governor of the State of California, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsOct 19 (Reuters) - California governor Gavin Newsom will visit China next week to discuss climate cooperation, promote bilateral economic development and tourism and encourage cultural exchanges, his office said in a statement on Thursday. "California and China hold the keys to solving the climate crisis," Newsom said. California has played a major role in maintaining climate ties between China and the United States, the world's two biggest greenhouse gas emitters. China and the United States relaunched top-level bilateral climate talks earlier this year after a hiatus triggered by the visit of former House of Representatives Speaker Nancy Pelosi to Taiwan, the democratically governed island that China claims.

Persons: Gavin Newsom, Mike Blake, Newsom, Donald Trump, Xie Zhenhua, Jerry Brown, Nancy Pelosi, Xie, John Kerry, David Stanway, Christopher Cushing Organizations: of, Milken, Global Conference, REUTERS, China Climate Institute, Beijing's Tsinghua University, United States, U.S, Dubai, Thomson Locations: of California, Beverly Hills , California, U.S, California, China, Hong Kong, Beijing, Shanghai, Jiangsu, Guangdong, . California, United States, Paris, Taiwan, Singapore

☆ Read the secret Signal messages that could help put Sam Bankman-Fried behind bars
▼ + stars: | 2023-10-19 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +16 min

Sam Bankman-Fried appears at federal court in New York on Oct. 4, 2023, in this courtroom sketch. Zoom In Icon Arrows pointing outwards Prosecutors are relying heavily on text messages sent among FTX and Alameda Research executives in the case against Sam Bankman-Fried. In a direct appeal to Bankman-Fried, Singh wrote on Nov. 6, 2022, "one thing that'd seriously help me is if I didn't have debts." Zoom In Icon Arrows pointing outwards Prosecutors are relying heavily on text messages sent among FTX and Alameda Research executives in the case against Sam Bankman-Fried. Zoom In Icon Arrows pointing outwards Prosecutors are relying heavily on text messages sent among FTX and Alameda Research executives in the case against Sam Bankman-Fried.

Persons: Sam Bankman, Fried, Claudia Johnson, Caroline Ellison, Gary Wang, Nishad Singh, Ryan Salame, Damian Williams, Yuki Iwamura, Ellison, Bankman, Joe Bankman, Ramnik Arora, Ryne Miller, Constance Wang, Singh, Wang, reassurances, FTX, Changpeng Zhao, he'd, Um, Sam, Binance, Zhao, it's, Sam Trabucco, Ben Xie, Michael Lewis, Lewis, Adam Yedidia, Yedidia, chares, SDNY Singh, Gabe, Salame, Michael Sadowsky, Sadowsky, FTX's, Dawn Giel Organizations: Alameda Research, Stanford, Bloomberg, Getty, Massachusetts Institute of Technology, alameda, Prime Trust Bank Locations: New York, Alameda, Manhattan, U.S, FTX, Sequoia, Alameda's, Bahamas

☆ China’s Economy Faces Deepening Troubles in Years Ahead
▼ + stars: | 2023-10-18 | by ( Stella Yifan Xie | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

[1/2] A worker looks on at a construction site of residential buildings by Chinese developer Country Garden, in Beijing, China August 11, 2023. Non-payment would trigger cross defaults in other Country Garden bonds as is standard in bond contracts. Country Garden reiterated on Wednesday that it expects to be unable to meet all of its offshore debt obligations and hopes to seek a "holistic" solution to its difficulties. Shares in Country Garden have lost some 70% of their value this year but gained some ground on Wednesday, rising 2.7%. "I think Country Garden offshore US dollar bond pricing speaks for itself as to the current expectations," said Real Estate Foresight co-founder Robert Ciemniak who publishes on Smartkarma.

Persons: Tingshu Wang, Cedric Rimaud, Garden's, China Evergrande, Robert Ciemniak, Clare Jim, Xie Yu, Scott Murdoch, Anne Marie Roantree, Edwina Gibbs Organizations: REUTERS, HK, Foresight, Data, JPMorgan, Mainland Properties, Thomson Locations: Beijing, China, HONG KONG, U.S, Hang, Hong Kong

[1/2] A worker looks on at a construction site of residential buildings by Chinese developer Country Garden, in Beijing, China August 11, 2023. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsHONG KONG, Oct 18 (Reuters) - The grace period for Chinese property developer Country Garden Holding's (2007.HK) $15 million coupon payment has expired with no word that the money has been paid. Country Garden did not immediately respond to a request for comment. Country Garden has also missed other offshore payments in the past few weeks, though those payments still have not seen their 30-day grace periods lapse. A default would open the way for Country Garden's offshore creditors to begin negotiations with the firm's financial advisors.

Persons: Tingshu Wang, Clare Jim, Scott Murdoch, Xie Yu, Sonali Paul, Edwina Gibbs Organizations: REUTERS, HK, Data, JPMorgan, Mainland Properties, Thomson Locations: Beijing, China, HONG KONG, China's, Hang, Hong Kong, Sydney

REUTERS/Thomas Peter/File Photo Acquire Licensing RightsHONG KONG/SHANGHAI, Oct 17 (Reuters) - China's Gemdale (600383.SS) saw its stocks and bonds plunge on Tuesday after the resignation of its chairman, as investors took no chances amid the debt crisis in the key real estate sector. However, investors concerned about the broader debt problems in China's property sector sold off the stock, which dropped by the daily 10% limit in afternoon trading in Shanghai. Gemdale has a total debt of 21.1 billion yuan ($2.88 billion) in the form of bonds due by the end of 2024, according to LSEG data. It ranked as China's 8th largest developer last year, according to private research firm China Real Estate Information Corp. It had sales of 221.8 billion yuan ($30.3 billion) last year and its financial fundamentals were stable, the company said in its annual report published in April.

Persons: Thomas Peter, Ling Ke, Gemdale, Huang Juncan, Ting Meng, Xie Yu, Li Gu, Edwina Gibbs, Miral Organizations: REUTERS, ANZ Bank China, Estate Information Corp, Thomson Locations: Beijing, China, HONG KONG, SHANGHAI, Shanghai, Hong Kong

The individuals' accounts varied but were consistent in describing heightened scrutiny of overseas travel even after China reopened borders in January. Reuters is reporting these measures and the scope of some post-COVID travel curbs for the first time. NEW LIMITSRestrictions on personal foreign travel have long applied to senior government officials and state executives with access to confidential information. MAPPING CONNECTIONSChinese authorities are also scrutinising personal foreign ties, according to a document seen by Reuters, one of the 10 people who discussed travel curbs and three other state-enterprise workers with knowledge of the matter. Thomas said the travel curbs in particular would have implications for China's interactions with the world.

Persons: Carlos Garcia Rawlins, Xi, Neil Thomas, Thomas, Wang Zhi'an, Engen Tham, Julie Zhu, Kane Wu, Xie Yu, Martin Quin Pollard, David Crawshaw, Vidya Ranganathan Organizations: REUTERS, Rights, Reuters, Asia Society, Center for, State, Information Office, Communist Party, China Construction Bank, China Development Bank, National Council for Social Security Fund, Municipal Eco, Communist, Communist Youth League, Ministry of State Security, U.S . Central Intelligence Agency, CIA, Beijing, Thomson Locations: China, Beijing, Rights SHANGHAI, HONG KONG, Center for China, Washington, Shanghai, Zhejiang, Hong Kong, Singapore, Ningbo, Wenzhou, Japan, Italy

☆ Xi and Putin to reunite in China as divisions with the West sharpen
▼ + stars: | 2023-10-16 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +8 min

Putin and Xi, who frequently refer to their close friendship, have met 40 times in the past decade, including twice since the start of the war in Ukraine. “And for China, having an important international player like Putin to join the BRI summit is also politically important,” he added. Chinese leader Xi Jinping inspects the honor guard at the Moscow Vnukovo Airport on March 20, 2023. Last year, Russia and China saw record trade, which continued to grow in 2023. Xi and Putin are expected to discuss the conflict in their upcoming meeting – where Russia’s war in Ukraine will also likely feature.

Persons: Vladimir Putin, Xi Jinping, Ukraine –, ’, Xi, Putin, “, ”, Li Mingjiang, Xie Huanchi, “ China, Alex Gabuev, it’s, Xu Wei, Joe Biden, Wang Yi, Israel –, Li, don’t Organizations: Beijing CNN —, Hamas, Palestinian, Forum, West, Singapore’s Nanyang Technological University, Moscow Vnukovo Airport, Getty, Carnegie Russia Eurasia Center, ’, Xinhua, United Nations Security, UN, Israel, Ukraine Locations: China, Beijing, United States, Ukraine, Moscow, Russian, Kyrgyzstan, Russia, Xinhua, Europe, Berlin, East, Israel, Gaza, Leningrad, Singapore

☆ China’s Economy Remains Shaky After Challenging Summer
▼ + stars: | 2023-10-13 | by ( Stella Yifan Xie | ) www.wsj.com time to read: 1 min

Persons: Dow Jones

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

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. Country Garden, China's largest private property developer, has not defaulted so far, but has missed coupon payments on some dollar bonds since last month and faces the end of 30-day grace periods for making payments from next week. In a filing with the Hong Kong stock exchange on Tuesday, Country Garden said that its sales and financing were facing "significant challenges", and its available funds have continued to decrease. Country Garden was due on Monday to pay $66.8 million in coupons on 2024 and 2026 dollar bonds, although the payments have a 30-day grace period. ($1 = 7.8284 Hong Kong dollars)Reporting by Scott Murdoch in Sydney and Xie Yu in Hong Kong; additional reporting Rishav Chatterjee in Bengaluru and Clare Jim in Hong Kong; Editing by Rashmi Aich, Lincoln Feast, Jamie Freed and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, homebuyers, Houlihan Lokey, Sidley Austin, Jeff Zhang, Sandra Chow, CreditSight's, Scott Murdoch, Xie Yu, Rishav Chatterjee, Clare Jim, Rashmi Aich, Lincoln, Jamie Freed, Kim Coghill Organizations: Shanghai Country Garden, REUTERS, HK, Hong, China International Capital Corporation, Asia, China Evergrande, Investment, Thomson Locations: Shanghai, China, HONG KONG, Hong Kong, Beijing, Sydney, Bengaluru, Clare

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. Companies accounting for 40% of Chinese home sales - mostly private property developers - have defaulted on debt obligations since a liquidity crisis hit the sector in 2021, leaving many homes unfinished. The developer had been working towards announcing a restructure of its offshore debt, Chinese media reported on Monday. Country Garden faces another big test next week when its entire offshore debt could be deemed in default if it fails to pay a $15 million September coupon by Oct. 17. "The difficult situation shows that Chinese developers face severe liquidity pressure from weak home sales, and repayment to bondholders is still a lower priority," said Gary Ng, senior economist at Natixis Corporate and Investment Bank.

Persons: Aly, Houlihan Lokey, Sidley Austin, Morningstar, Jeff Zhang, Sandra Chow, CreditSight's, Gary Ng, Scott Murdoch, Xie Yu, Rishav Chatterjee, Rashmi Aich, Lincoln, Jamie Freed 私 Organizations: Shanghai Country Garden, REUTERS, Garden Holdings, HK, Hong Kong Stock Exchange, China International Capital Corporation, Asia, Natixis Corporate, Investment Bank Locations: Shanghai, China, HONG KONG, Hong Kong, Sydney, Bengaluru

☆ Citigroup to sell China consumer wealth business to HSBC
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsOct 9 (Reuters) - Citigroup Inc (C.N) said on Monday it had agreed to sell its China consumer wealth portfolio, including clients, assets under management (AUM) and deposits, to Asia-focused HSBC Holdings Plc (HSBA.L). Citi first announced its plan to exit China consumer banking in April 2021 as part of a global strategy revamp. The consumer banking business mainly served rich clients with deposit, fund and structured product offerings. Reuters first reported late last month that HSBC was set to acquire Citi's China consumer wealth business, in a major boost to the London-based bank's business in the world's second-largest economy. Apart from the China consumer banking deal, Citi plans to complete the sale of its Indonesia consumer business later this year, the bank statement said.

Persons: Andrew Kelly, Aishwarya Nair, Xie Yu, Sumeet Chatterjee, Dhanya Ann Thoppil, Jamie Freed, Miral Organizations: Citibank, New York Stock Exchange, REUTERS, Citigroup Inc, HSBC Holdings Plc, Citi, Reuters, HSBC, Standard Chartered, Thomson Locations: Manhattan , New York City, U.S, China, Asia, London, Singapore, Hong Kong, Europe, East, Mexico, Indonesia, Korea, Russia, Bengaluru

☆ Evergrande's $500 million EV share deal suspended, stock to resume trading
▼ + stars: | 2023-10-08 | by ( ) www.reuters.com time to read: +1 min

The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. The suspension of the share subscription deal was due to "significant uncertainties" tied to the Evergrande group, the filing by the Chinese firm said. Previously, Evergrande said investigations had been initiated against the parent company, its founder and senior executives, while the firm's debt restructuring plan has also been derailed. Trading in shares of the China Evergrande New Energy Vehicle Group, which were suspended on Sept. 28, will resume on Monday, the Sunday filing said. ($1 = 7.8313 Hong Kong dollars)Reporting by Xie Yu;Editing by Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Evergrande, Xie Yu, Elaine Hardcastle Organizations: China Evergrande Group, REUTERS, China Evergrande, Energy Vehicle Group, HK, China, Hong Kong bourse, Thomson Locations: China, Shenzhen, Guangdong province, HONG KONG, Hong Kong, Dubai

An aerial view shows the 39 buildings developed by China Evergrande Group that authorities have issued demolition order, on the man-made Ocean Flower Island in Danzhou, Hainan province, China January 6, 2022. "The (investigation into Hui) clearly shows that Chinese policymakers prioritise political considerations to economic ones in dealing with Evergrande," he said. Evergrande and China's housing authority did not immediately respond to requests for comment during the week long National Day holiday. Gavekal in its report said that at the very least, an orderly restructuring of Evergrande seemed increasingly hard to achieve. A liquidation petition filed against Evergrande is scheduled for hearing in a Hong Kong court on Oct 30.

Persons: Aly, Hui Ka Yan, Hui, Xin Sun, Evergrande, Christopher Beddor, Sandra Chow, bondholder, Antonio Fatas, Xie Yu, Clare Jim, Kane Wu, Sumeet Chatterjee, Lincoln Organizations: China Evergrande Group, REUTERS, China Evergrande, HK, lurched, East Asian, King's College London, SOE, Evergrande, Thomson Locations: Danzhou, Hainan province, China, HONG KONG, Beijing, homebuyers, Asia, Pacific, Gavekal, Hong Kong, Evergrande

The planned tariff has caused disquiet among trading partners and at a forum last month, China's top climate envoy Xie Zhenhua urged countries not to resort to unilateral measures such as the EU levy. The bloc will not begin collecting any CO2 emission charges at the border until 2026. Importers will from 2026 need to purchase certificates to cover these CO2 emissions to put foreign producers on a level footing with EU industries that must buy permits from the EU carbon market when they pollute. Companies in the European Union, Britain and Ukraine have told Reuters they expect little initial impact during the trial phase. Among Europe's significant trade partners, China's foreign ministry, Turkey's trade ministry and a U.S. official declined to comment on the launch.

Persons: Xie Zhenhua, Paolo Gentiloni, Gentiloni, Philip Blenkinsop, Kate Abnett, Valerie Volcovici, Nevzat, David Stanway, Barbara Lewis Organizations: European Union, Companies, Reuters, European Commission, World Trade Organization, U.S, Thomson Locations: BRUSSELS, Britain, Ukraine, Europe, Washington, Ankara, Beijing

☆ China's US envoy urges 'practical' steps to help restore ties
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

FILE PHOTO-Xie Feng, China's new ambassador to the U.S., addresses the media as he arrives at JFK airport in New York City, U.S., May 23, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsBEIJING, Sept 28 (Reuters) - China's ambassador to the United States said the Biden administration could help restore fraught relations by starting with "practical" steps, such as renewing a decades-old pact on science and technology. "We must start from me, start from now, and start from practical things that benefit the people of the two countries," Ambassador Xie Feng said at an embassy reception on Wednesday, ahead of China's National Day on Oct. 1. "The China-U.S. Science and Technology Agreement (STA) is mutually beneficial and win-win," added Xie, who took up his posting in May. This week, the United States said Beijing had allowed a U.S. soldier being expelled by North Korea to stop over in China before continuing home.

Persons: Xie Feng, Brendan McDermid, Biden, Xie, Ryan Woo, Clarence Fernandez Organizations: REUTERS, Rights, . Science, Technology, Treasury Department, Thomson Locations: U.S, New York City, Rights BEIJING, United States, Beijing, Washington, Taiwan, China, North Korea

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