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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

☆ China Has Second Thoughts About Controlling Prices in Its Multi Trillion-Dollar Housing Market
▼ + stars: | 2023-09-27 | by ( Stella Yifan Xie | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Timeline: China Evergrande's worsening debt crisis
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +5 min

The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. Here is a timeline of how Evergrande's debt crisis has unfolded:August, 2021Many Evergrande projects across the country halt construction due to overdue payments. November, 2022A mansion belonging to Evergrande's chairman in Hong Kong's prestigious The Peak residential enclave is seized by lender China Construction Bank (Asia). February, 2023An independent committee finds Evergrande's directors fell "below standards" through their involvement in diverting loans secured by unit Evergrande Property Services (6666.HK) to the group. July, 2023Evergrande posts a net loss of 476 billion yuan and 105.9 billion yuan for 2021 and 2022, respectively, versus a net profit of 8.1 billion yuan in 2020 when its operation was normal.

Persons: Aly, Evergrande, Hui, Clare Jim, Xie Yu, Roxanne Liu, Sumeet Chatterjee, Kim Coghill Organizations: China Evergrande Group, REUTERS, China Evergrande, HK, Bloomberg, China Construction Bank, Evergrande, Services, Administration of Financial, Life Insurance, Evergrande . Police, Financial Wealth Management, Thomson Locations: China, Shenzhen, Guangdong province, China's, Evergrande, Hong, Asia, Hong Kong, U.S

☆ Pressure piles on China Evergrande with report chairman under police surveillance
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +2 min

[1/2] Hui Ka Yan, chairman of Evergrande Real Estate Group Ltd, the country's second-largest property developer by sales, attends a news conference on annual results in Hong Kong, China March 29, 2016. REUTERS/Bobby Yip/File photo Acquire Licensing RightsHONG KONG, Sept 27 (Reuters) - The chairman of China Evergrande Group (3333.HK) has been placed under police surveillance, Bloomberg News reported on Wednesday, ratcheting up pressure on the embattled developer whose outlook has already darkened significantly this week. Citing people with knowledge of the matter, the report said Hui Ka Yan was taken away by police earlier this month and is being monitored at a designated location. Evergrande did not immediately respond to a Reuters request for comment. Markets are also focused on another major Chinese developer, Country Garden (2007.HK), which is facing a new bond coupon repayment deadline on Wednesday.

Persons: Hui Ka Yan, Bobby Yip, Hui, Evergrande, Hengda, Scott Murdoch, Xie Yu, Muralikumar Anantharaman, Neil Fullick Organizations: Real Estate Group, REUTERS, China Evergrande, HK, Bloomberg, Bloomberg News, Reuters, Evergrande, Thomson Locations: Hong Kong, China, HONG KONG, China's, Sydney

☆ China climate envoy says phasing out fossil fuels 'unrealistic'
▼ + stars: | 2023-09-22 | by ( David Stanway | ) www.reuters.com time to read: +3 min

SINGAPORE, Sept 22 (Reuters) - The complete phasing-out of fossil fuels is not realistic, China's top climate official said, adding that these climate-warming fuels must continue to play a vital role in maintaining global energy security. China is the world's biggest consumer of fossil fuels including coal and oil, and its special climate envoy Xie Zhenhua was responding to comments by ambassadors at a forum in Beijing on Thursday ahead of the COP28 climate meeting in Dubai in November. The stocktake will be at the centre of discussions at the COP28 climate meeting, with campaigners hoping it will create the political will to set clear targets to end coal and oil use. "It is unrealistic to completely phase out fossil fuel energy," said Xie, who will represent China at COP28 this year. At climate talks in Glasgow in 2021, China led efforts to change the language of the final agreement from "phasing out" to "phasing down" fossil fuels.

Persons: Xie Zhenhua, Xie, John Kerry, Nancy Pelosi's, David Stanway, Miral Organizations: Reuters, U.S, Thomson Locations: SINGAPORE, China, Beijing, Dubai, COP28, Glasgow, United States, Taiwan

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. The U.S. central bank on Wednesday kept its key lending rate steady, as expected, but indicated another hike is possible as it and other central banks tighten policy to tame inflation. Major equity indices in Europe and on Wall Street fell more than 1% on concerns higher rates will curb growth. /FRXMirroring a rise in Treasury yields, Germany's 10-year government bond yield touched a fresh six-month high of 2.73% and Britain's 10-year gilt yield rose to 4.29% after falling on Wednesday to its lowest since July. Gold extended its decline for a third straight day as the dollar and Treasury yields rallied on the Fed's warning of a possible additional rate hike.

Persons: Brendan McDermid, there's, Michael Arone, Jack Ablin, it's, John Hardy, Hardy, Brent, Xie Yu, Marguerita Choy, Tomasz Janowski, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Federal Reserve, Swiss, Bank of England, Swiss National Bank, Fed, State Street Global Advisors, Reuters, Treasury, Cresset Capital Management, Saxo Bank, Dow Jones, Nasdaq, Sterling, Reuters Graphics, U.S, West Texas Intermediate, Thomson Locations: New York City, U.S, Norway, Sweden, Europe, Boston, Pebble Beach , Florida, Hong Kong

☆ Dollar reigns as Europe's central banks spring some surprises
▼ + stars: | 2023-09-21 | by ( Marc Jones | ) www.reuters.com time to read: +5 min

"It punctures the balloon on terminal rates and also creates more second guessing on the quality of the (economic) landings". With a crucial Bank of Japan meeting still to come this week, Japan's 10-year government bond yield rose to its highest in a decade. Ben Luk, senior multi-asset strategist at State Street Global Markets said the overall tone of the Fed's meeting on Wednesday, while not overly hawkish, included two surprises. The median forecast for the federal funds rate is 5.1% by year-end, up from 4.6% estimated in June. Additional reporting by Xie Yu in Hong Kong Editing by Shri Navaratnam and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

Persons: BoE, Bond, John Hardy, Hardy, Goldman Sachs, Tom Hopkins, Ben Luk, Wall, Brent, clawing, Gold, Xie Yu, Shri Navaratnam, Tomasz Janowski Organizations: Sterling, Swiss, U.S . Federal Reserve, Dealers, Swiss National Bank, Bank of England, Saxo Bank, BRI Wealth Management, Treasury, Reuters Graphics, Apple, Nvidia, Japan's Nikkei, of Japan, State Street Global Markets, Thomson Locations: Europe, Britain, Sweden, Norway, Turkey, U.S, Asia, Pacific, Japan, Saudi Arabia, Russia, Hong Kong

☆ Stocks retreat, US yields advance, dollar strengthens on hawkish Fed
▼ + stars: | 2023-09-21 | by ( Xie Yu | ) www.reuters.com time to read: +2 min

Passersby walk past an electric board displaying Japan's Nikkei share average outside a brokerage in Tokyo, Japan April 18, 2023. REUTERS/Issei Kato Acquire Licensing RightsHONG KONG, Sept 21 (Reuters) - Asian stocks followed Wall Street's lead on Thursday, dipping across the board as investors interpreted the U.S. Federal Reserve's latest policy statements as signalling higher-for-longer interest rates. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.6%, with the Hong Kong benchmark shedding 0.8%. The yield on two-year U.S. Treasury notes rose to a 17-year high of 5.1970%. The overall tone of the Fed's latest meeting was not overly hawkish but there were two surprises, he said.

Persons: Issei Kato, Ben Luk, Luk, Brent, Xie Yu Organizations: Nikkei, REUTERS, . Federal, Hong, Japan's Nikkei, Treasury, State Street Global Markets, Fed, U.S ., Major U.S, Bank of England, Thomson Locations: Tokyo, Japan, HONG KONG, ., Asia, Pacific, Hong Kong, U.S, Indonesia, Philippines, Taiwan

Xie Xuguang, from CNOOC Gas and Power Group's research centre, told a conference on Thursday that China's total gas demand may reach 396.4 billion cubic metres (bcm) this year. "We're expecting industrial gas demand to recover in the second half. Gas demand growth this year was seen at between 5.7% and 7.4%, according to estimates this week by ICIS, Energy Aspects and SIA Energy. China's total gas demand was forecast to peak in 2040 at 700 bcm, Xie added, echoing a previous forecast by state major Sinopec. Imports of both piped gas and liquefied natural gas were both expected to increase to meet rising domestic demand.

Persons: Stringer, Xie Xuguang, Xie, CNOOC, Andrew Hayley, Chen Aizhu, Christian Schmollinger, Michael Perry Organizations: Sinopec, Inner, Inner Mongolia Autonomous, REUTERS, CNOOC Gas, Power, ICIS, SIA Energy, Imports, Thomson Locations: Erdos, Inner Mongolia, Inner Mongolia Autonomous Region, China, TIANJIN, Japan, Russia's, Siberia, Russia

☆ Stella Yifan Xie — Reporter at The Wall Street Journal
▼ + stars: | 2023-09-20 | by ( Stella Yifan Xie | ) www.wsj.com time to read: 1 min

Stella Yifan XieStella Yifan Xie is a Hong Kong-based reporter covering the Chinese economy. Previously at the Journal, she reported on capital markets and finance topics in China from both Shanghai and Hong Kong bureaus. Stella was part of a team that won a citation from the Overseas Press Club in international business reporting in 2021. Stella joined the Journal in 2015 from American Public Media’s Marketplace radio program. She also worked at China Economic Review magazine.

Persons: Stella Yifan Xie Stella Yifan Xie, Stella Organizations: Overseas Press Club, National Press Foundation, American, China Economic Locations: Hong Kong, China, Shanghai

☆ Thought the U.S. Office Market Was Bad? Try China
▼ + stars: | 2023-09-19 | by ( Stella Yifan Xie | Photographs Gilles Sabrie For The Wall Street Journal | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Sunac, Country Garden debt deals bring respite for China's property sector
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +4 min

HONG KONG, Sept 19 (Reuters) - Chinese developers Sunac (1918.HK) and Country Garden (2007.HK) brought some relief to the crisis-hit property sector by forging debt deals with creditors, but the outlook remained clouded by uncertainty about a recovery in home sales. Shares in Sunac China Holdings surged as much as 14% on Tuesday after creditors approved its $9 billion offshore debt restructuring plan, the first green light of such a debt overhaul by a major Chinese developer. The developments come as Beijing steps up efforts to revive the property sector, which accounts for roughly a quarter of the world's second-largest economy, with a raft of support measures unveiled over the last few weeks. While Sunac is among a string of Chinese developers that have defaulted on their offshore debt obligations since an unprecedented liquidity crisis hit the property sector in 2021, Country Garden has not missed any offshore payments yet. PROPERTY SECTOR OUTLOOKMajor developers in the process of restructuring their debt include China Evergrande Group (3333.HK), whose liquidity crunch was a turning point in the country's real estate crisis.

Persons: Sunac, Gary Ng, ANZ Senior China Economist Betty Wang, It's, Donny Kwok, Xie Yu, Steven Bian, Kevin Huang, Anne Marie Roantree, Sumeet Chatterjee, Lincoln Organizations: HK, Sunac China Holdings, Country Garden, Natixis Corporate, Investment Bank, China Evergrande, ANZ Senior China Economist, Thomson Locations: HONG KONG, Beijing, Hong Kong, Sunac, China, Shanghai

☆ Country Garden wins approval to extend another onshore bond
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +1 min

HONG KONG, Sept 19 (Reuters) - Embattled Chinese developer Country Garden (2007.HK) has won approval from creditors to extend repayment on another onshore bond, the last in the batch of eight bonds it has been seeking extensions for, two sources familiar with the matter said. The 492 million yuan ($67 million) onshore bond was issued by a subsidiary of Country Garden, and the company had delayed voting on this bond three times before creditors on Monday voted in favor to extend the maturity, the sources said. Under the terms of the agreement, the issuer, Guangdong Giant Leap Construction Co would provide no less than 200 million yuan as a pledged guarantee for the bond, the two sources added. Country Garden, whose financial woes have hit the Chinese property sector outlook, earlier proposed to extend maturities of eight onshore bonds worth 10.8 billion yuan by three years. ($1 = 7.2946 Chinese yuan renminbi)Reporting by Steven Bian in Shanghai, Kevin Huang in Beijing, and Xie Yu in Hong Kong; Editing by Sumeet Chatterjee and Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

Persons: Steven Bian, Kevin Huang, Xie Yu, Sumeet Chatterjee Organizations: HK, Country, Thomson Locations: HONG KONG, Guangdong, Shanghai, Beijing, Hong Kong, Lincoln

☆ Asian shares drop as investors brace for central bank-packed week
▼ + stars: | 2023-09-18 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

U.S. West Texas Intermediate crude futures gained 0.8% to $91.52, their highest level since November, while Brent crude futures rose 0.7% to $94.55 per barrel. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.7%. This week, global central banks will take centre stage, with five of those overseeing the 10 most heavily traded currencies holding rate-setting meetings. Last Friday, Wall Street ended sharply lower as U.S. industrial labour action weighed on auto shares. The euro gained 0.1% to $1.0667, after slumping to a 3-1/2 month low of $1.0632 last week as the European Central Bank signalled its rate hikes could be over.

Persons: BOE, BOJ, Taiwan's TSMC, Hong, Tommy Xie, Chris Weston, Weston, Kazuo Ueda, Cash Treasuries, Stella Qiu, Shri Navaratnam, Edwina Gibbs Organizations: Federal Reserve, Bank of Japan, Nasdaq, . West Texas, Brent, Japan's Nikkei, Technology, Reuters, Trust, Greater, Greater China Research, OCBC Bank, China Evergrande, Fed, U.S ., Bank of England, Treasury, Amazon, European Central Bank, Thomson Locations: China, SYDNEY, Europe, Asia, Pacific, Japan, Zhongrong, Greater China, HK, Pepperstone, Tokyo

☆ Cash-squeezed developer Country Garden faces another dollar coupon deadline
▼ + stars: | 2023-09-18 | by ( Xie Yu | ) www.reuters.com time to read: +3 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. A Country Garden spokesperson did not immediately respond to Reuters request for comment on Monday about its latest debt repayment obligation. Country Garden last month warned of default risks if its financial performance continues to deteriorate. Last week, onshore bondholders approved to extend repayments of seven other Country Garden bonds by three years. Many creditors believe that Country Garden will have to restructure its offshore debt if it doesn't get liquidity support soon.

Persons: Aly, Sandra Chow, Chow, Kim, Ashurst, Xie Yu, Sumeet Chatterjee Organizations: Shanghai Country Garden, REUTERS, HK, London, Thomson Locations: Shanghai, China, HONG KONG, Beijing, Asia, Pacific, Hong Kong, New York, Lincoln

☆ Asian shares stumble as investors brace for central bank packed week
▼ + stars: | 2023-09-18 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

S&P 500 futures advanced 0.2% while Nasdaq futures edged 0.1% higher. Also, Chinese trust firm Zhongrong International Trust Co, with exposure to Chinese property developers, said over the weekend it was unable to make payments on some trust products on time. The euro recovered 0.1% to $1.0673 in early Asia trade, after slumping to a 3-1/2 month low of $1.0629 last week as the European Central Bank signalled its rate hikes could be over. Brent crude futures rose 0.3% at $94.20 per barrel and U.S. West Texas Intermediate crude futures were up 0.4% at $91.14. Reporting by Stella Qiu; Editing by Lincoln Feast and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: BOE, BOJ, Tommy Xie, Jerome Powell, Chris Weston, Weston, Kazuo Ueda, Cash Treasuries, Stella Qiu, Lincoln Organizations: SYDNEY, Federal Reserve, Bank of Japan, Nasdaq, Japan's Nikkei, China Evergrande, HK, International Trust Co, Greater, Greater China Research, OCBC Bank, U.S . Federal, Fed, U.S ., Bank of England, Treasury, Amazon, European Central Bank, Brent, . West Texas, Thomson Locations: China, Asia, Pacific, Japan, Hong Kong, Beijing, Greater China, Tokyo

☆ Is China’s Economic Predicament as Bad as Japan’s? It Could Be Worse
▼ + stars: | 2023-09-17 | by ( Stella Yifan Xie | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Locations: asia

☆ China's AI applications are coming — where it matters for monetization
▼ + stars: | 2023-09-17 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Around the same time, Tencent announced it is integrating its AI model into advertising content creation, and its own Zoom-like video conferencing app. It's also not clear how powerful China's AI applications currently are, beyond demos and select business partnerships. "Overall we see generally Chinese language model[s] still lag behind the most advanced ChatGPT version 4," CLSA's Tony Zhang said in a phone interview in the last week. Now with Beijing's green light, public-facing AI applications such as Baidu's Ernie bot can be widely used in China. Generative AI and large language model-related revenue contributed to 20% of SenseTime' s revenue in the first half of 2023, Nomura analysts said, citing company management.

Persons: Nomura, Tencent, Coffee, Luckin, Joey Wat, It's, Tony Zhang, –, Ernie, Oliver Wyman's David Xie Organizations: Baidu, KFC Locations: Beijing, China, Taobao, TikTok

☆ China’s Economy Still Faces Headwinds Despite Early Signs of Recovery
▼ + stars: | 2023-09-15 | by ( Stella Yifan Xie | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/world/china/chinas-economy-shows-fresh-signs-of-fragile-recovery-f20b32f2

Persons: Dow Jones

Seven years in, Country Garden has invested 20 billion ringgit ($4.3 billion) in the project, Forest City said, a far cry from the initial $100 billion plan. "Seeing is believing," Forest City said in an email response. "The land plot itself is valuable," a Singapore-based bondholder of Country Garden said, while highlighting the complications of dealing with a local government joint-venture. Last month, Malaysia's central bank said local banks had limited exposure to Country Garden amid concern about its financial stress. Anwar, Malaysia's prime minister, has designated Forest City a "special financial zone" to attract investment, which Forest City said would help with its marketing.

Persons: Foo Gee Jen, Anwar Ibrahim, Anwar, Malaysia's, Yang Ming Han, Loh, Loh Wee Loon, I'm, Xinghui Kok, Xie Yu, Anne Marie Roantree, Lincoln Organizations: ISKANDAR PUTERI, Garden, Forest, Malaysian, Reuters, Thomson Locations: KUALA LUMPUR, ISKANDAR, Malaysia, Garden's, City, Johor, Singapore, Forest City, Malaysian, Forest, Loh Wee, China, Johor Sultan, Iskandar Puteri, Kuala Lumpur, Yantoultra, Hong Kong

☆ Country Garden gets maturity extension approval for one more onshore bond - sources
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +3 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. Shares in Country Garden, China's largest private property developer, jumped as much as 14% in Hong Kong on Wednesday. A Country Garden spokesperson did not immediately respond to Reuters' request for comment on the maturity extension of the bond. Before the latest voting to extend the maturities of eight onshore bonds, Country Garden managed to avoid default at the last minute twice earlier this month, bringing some relief to the battered property sector. Of those eight Country Garden bonds, maturity extensions for six have been approved, Reuters reported on Tuesday, citing sources.

Persons: Aly, Ting Meng, Shuyan Wang, Jing Bian, Xie Yu, Sumeet Chatterjee, Tom Hogue Organizations: Shanghai Country Garden, REUTERS, Rights, Reuters, Garden, Country Garden, ANZ, Thomson Locations: Shanghai, China, Rights BEIJING, HONG KONG, HK, Hong Kong, Beijing

☆ Country Garden secures bondholder reprieve, sources say; shares soar
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +3 min

Country Garden did not immediately reply to a request for comment. The latest voting came after Country Garden on Sept. 1 gained approval from creditors to extend payments by three years for a 3.9 billion yuan ($533 million)onshore private bond. Country Garden, one of the few large Chinese developers that has not defaulted on debt obligations, has faced liquidity pressure with reduced available funds as sales plunged, its interim financial statements showed. It has 108.7 billion yuan ($14.9 billion) of debts due within 12 months, while its cash level are around 101.1 billion yuan as of end-June, according to the company's interim financial statement. Any default by Country Garden would exacerbate the country's spiralling real estate crisis, put more strain on its struggling banks and could delay the recovery of not only the property market, but the overall Chinese economy.

Persons: Shuyan Wang, Jing Bian, Xie Yu, Muralikumar Anantharaman, Jamie Freed Organizations: HK, Mainland Properties, Thomson Locations: SHANGHAI, BEIJING, Hong Kong, Beijing, Shanghai

☆ Country Garden faces fresh test for onshore bond extensions
▼ + stars: | 2023-09-11 | by ( Xie Yu | ) www.reuters.com time to read: +3 min

The voting, due to conclude by 10 p.m. Hong Kong time (1400 GMT) on Monday, will have onshore creditors decide on approving a proposal by Country Garden (2007.HK) to extend repayments of eight onshore bonds by three years. Country Garden did not immediately respond to request for comment. Country Garden has so far showed "higher willingness to stave off a default" compared to many of its peers, said Nicholas Chen, a Singapore-based analyst at research firm CreditSights. Chen expects Country Garden to continue striving to defer due bond payments on both onshore and offshore markets, given its inadequate liquidity position. ($1 = 7.3490 Chinese yuan renminbi)Reporting by Xie Yu; Editing by Sumeet Chatterjee and Lincoln Feast.

Persons: Nicholas Chen, Chen, Xie Yu, Sumeet Chatterjee Organizations: Country Garden, HK, Thomson Locations: HONG KONG, Hong Kong, Singapore, Lincoln

☆ Xi’s Tight Control Hampers Stronger Response to China’s Slowdown
▼ + stars: | 2023-09-10 | by ( Lingling Wei | Stella Yifan Xie | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

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