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Top related persons:
Evergrande - 2 Kristy Hung - 1 Yang Guoqiang - 1 Yang Huiyan - 1 Yang - 1 Moody's - 1 Sandra Chow - 1 Huileng Tan - 1
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Beijing Wall Silicon China Evergrande Foshan Asia Pacific
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Service - 2 Bloomberg Intelligence - 1 Hong Kong Stock Exchange - 1 CNN - 1 China Index Academy - 1 Pacific Research - 1 New York Times - 1 Caixa Bank - 1

Search resuls for: "Spain's Caixa Bank"


2 mentions found


☆ China's heading for another real estate crisis — but it's on a whole different scale than what it's seen before
  + stars: | 2023-08-10 | by ( Nidhi Pandurangi | ) www.businessinsider.com   time to read: +8 min
Country Garden, a massive Chinese property developer, missed interest payments on two dollar bonds this week. However, it's the scale of Country Garden's projects that is a big warning signal for the Chinese real estate sector and the wider economy. Evergrande faced a liquidity crisis in 2020, prodding it to try to halve its around $100 billion debt by mid-2023. These efforts were scuppered by a slowdown in China's property sector and regulators' efforts to put brakes on property developers borrowing excessively. However, putting the brakes on borrowing started sending the property sector into a crisis.
Persons: Kristy Hung, Yang Guoqiang, Yang Huiyan, Yang, Moody's, Sandra Chow, Evergrande, Huileng Tan Organizations: Service, Bloomberg Intelligence, Hong Kong Stock Exchange, CNN, China Index Academy, Reuters, Pacific Research, New York Times, Caixa Bank Locations: Beijing, Wall, Silicon, China, Evergrande, Foshan, Asia, Pacific, CreditSights
☆ The most interesting part of China's stimulus announcement was the omission of a key phrase that ignited the 2020 crackdown on the real-estate sector
  + stars: | 2023-08-07 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +6 min
China's property market is a huge part of the economy, but it's now in a deep slump. This measure was introduced in August 2020 to limit the amount of money property developers could borrow. Other Chinese real-estate developers ran into similar issues, and the sector started to default on its bond payments. In the background, there were concerns that China's property crisis could spill over into the broader domestic and global economy. In 2022, China's economy grew 3% — well below its official 5.5% target, intensifying the drag on the property sector.
Persons: it's, Xi Jinping, Xi, Lina Batarags, Evergrande, Bo Zhuang, Loomis Sayles, Zhuang, Shenzhen —, Nomura Organizations: Authorities, Service, Bloomberg, Spain's Caixa Bank, Nikkei, Reuters Locations: Beijing, Wall, Silicon, China, Expectedly, Shenzhen
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