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Tiagong, Empreor Xi is kowtow to Cik Biden for 900b Bailout, kym?
- Thread starter k1976
- Start date
It's not a bailout, but a ransom demand. 
And yet we have turds like this spouting bullshit:
https://www.channelnewsasia.com/asi...ing-population-not-hurdle-ong-ye-kung-3938921
And yet we have turds like this spouting bullshit:
China’s economic slump different from Japan in 1980s, with greater growth prospects despite ageing population: Ong Ye Kung
22 Nov 2023https://www.channelnewsasia.com/asi...ing-population-not-hurdle-ong-ye-kung-3938921
https://www.google.com/amp/s/amp.sc...multipolar-order-israel-gaza-war-lee-kuan-yew
Some where in North Asia.....some ex big boss are giving their expert view again
Some where in North Asia.....some ex big boss are giving their expert view again
https://www.channelnewsasia.com/asia/china-respiratory-illness-outbreak-children-3940886
Tiagong, China has new emerging virus problem again de woh
BEIJING: The World Health Organization has asked China for more data on respiratory illnesses spreading in the north of the country, but Beijing offered no public comment on Thursday (Nov 23).
Northern China has reported an increase in "influenza-like illness" since mid-October when compared to the same period in the previous three years, the WHO said.
Tiagong, China has new emerging virus problem again de woh
BEIJING: The World Health Organization has asked China for more data on respiratory illnesses spreading in the north of the country, but Beijing offered no public comment on Thursday (Nov 23).
Northern China has reported an increase in "influenza-like illness" since mid-October when compared to the same period in the previous three years, the WHO said.
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Reuters home
November 23, 20232:33 PM GMT+8Updated 6 hours ago
A general view of the Zhongzhi Enterprise Group office building in Beijing, China August 22, 2023. REUTERS/Florence Lo/File Photo Acquire Licensing Rights
BEIJING, Nov 23 (Reuters) - China's Zhongzhi Enterprise Group, a leading wealth manager, told investors it is heavily insolvent with up to $64 billion in liabilities, threatening to reignite concerns that the country's property debt crisis is spilling over into the broader financial sector.
The firm, which has sizable exposure to China's real estate sector, apologised to its investors in a letter that said it had total liabilities of about 420 billion yuan ($58 billion) to 460 billion yuan ($64 billion).
The liabilities compared to Zhongzhi's estimated total assets of about 200 billion yuan, according to the letter, which was issued on Wednesday and was seen by Reuters.
Beijing-based Zhongzhi did not immediately respond to a Reuters request for comment.
The worsening woes at Zhongzhi, a major player in China's $3 trillion shadow banking sector - roughly the size of the French economy - is set to rekindle worries about contagion, though some analysts expected regulators to step in to stem a wider fallout.
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China's highly indebted property sector has been reeling from a liquidity crunch since 2020. Defaults by developers since late 2021 have impeded economic growth and rattled global markets.
Shadow banking-linked wealth managers in China typically operate outside many of the rules governing commercial banks and mainly channel the proceeds of wealth products sold to retail investors to real estate developers and other sectors.
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"The hole in its books is enormous," said Xu, who is an investor in a Zhongrong trust product and gave only her surname due to the sensitivity of the matter. "The firm has been in a mess."
Zhongzhi, whose business interests span from mining to wealth management, said in the letter that as the group's assets were concentrated in long-term debt and equity investments it was difficult to liquidate them and book the returns.
Advertisement · Scroll to continue
"Initial inspections show that the group is seriously insolvent and has significant continuing operational risks. The resources available for debt repayment in the short term are much lower than the group's overall debt scale," it said.
"The Zhongzhi group deeply apologises for the losses caused to investors. We fully understand the urgency, importance and seriousness of resolving this overall risk," the group said in the letter.
Reuters home
China wealth manager Zhongzhi flags insolvency, $64 billion in liabilities
ReutersNovember 23, 20232:33 PM GMT+8Updated 6 hours ago
A general view of the Zhongzhi Enterprise Group office building in Beijing, China August 22, 2023. REUTERS/Florence Lo/File Photo Acquire Licensing Rights
BEIJING, Nov 23 (Reuters) - China's Zhongzhi Enterprise Group, a leading wealth manager, told investors it is heavily insolvent with up to $64 billion in liabilities, threatening to reignite concerns that the country's property debt crisis is spilling over into the broader financial sector.
The firm, which has sizable exposure to China's real estate sector, apologised to its investors in a letter that said it had total liabilities of about 420 billion yuan ($58 billion) to 460 billion yuan ($64 billion).
The liabilities compared to Zhongzhi's estimated total assets of about 200 billion yuan, according to the letter, which was issued on Wednesday and was seen by Reuters.
Beijing-based Zhongzhi did not immediately respond to a Reuters request for comment.
The worsening woes at Zhongzhi, a major player in China's $3 trillion shadow banking sector - roughly the size of the French economy - is set to rekindle worries about contagion, though some analysts expected regulators to step in to stem a wider fallout.
Advertisement · Scroll to continue
China's highly indebted property sector has been reeling from a liquidity crunch since 2020. Defaults by developers since late 2021 have impeded economic growth and rattled global markets.
Shadow banking-linked wealth managers in China typically operate outside many of the rules governing commercial banks and mainly channel the proceeds of wealth products sold to retail investors to real estate developers and other sectors.
Advertisement · Scroll to continue
'ENORMOUS' HOLE
Signs of trouble at the Zhongzhi group first came to light in July when Zhongrong International Trust Co, a leading trust company controlled by Zhongzhi, missed payments on dozens of investment products."The hole in its books is enormous," said Xu, who is an investor in a Zhongrong trust product and gave only her surname due to the sensitivity of the matter. "The firm has been in a mess."
Zhongzhi, whose business interests span from mining to wealth management, said in the letter that as the group's assets were concentrated in long-term debt and equity investments it was difficult to liquidate them and book the returns.
Advertisement · Scroll to continue
"Initial inspections show that the group is seriously insolvent and has significant continuing operational risks. The resources available for debt repayment in the short term are much lower than the group's overall debt scale," it said.
"The Zhongzhi group deeply apologises for the losses caused to investors. We fully understand the urgency, importance and seriousness of resolving this overall risk," the group said in the letter.
https://asia.nikkei.com/Business/He...to-step-up-treatment-of-respiratory-illnesses
Children playing in a park in Shanghai in May 2022, as the city was about to lift COVID restrictions. COVID did not affect youngsters as badly as it did the elderly, but an undiagnosed pneumonia has now been found in clusters of children in northern China.
© Reuters
CK Tan, Nikkei staff writerNovember 23, 2023 19:33 JST
SHANGHAI -- Chinese health authorities on Thursday ordered hospitals to step up treatment of respiratory ailments, a day after the World Health Organization asked for more information about clusters of children who were presenting symptoms.
China had reported an increase in cases of influenza-like illness in the northern part of the country, compared with the same period in the last three years, WHO said. Clusters of undiagnosed pneumonia in children were reported on Tuesday, according to WHO.
China orders hospitals to step up treatment of respiratory illnesses
Clusters of children in north presenting symptoms prompt WHO questions
Children playing in a park in Shanghai in May 2022, as the city was about to lift COVID restrictions. COVID did not affect youngsters as badly as it did the elderly, but an undiagnosed pneumonia has now been found in clusters of children in northern China.
© Reuters
CK Tan, Nikkei staff writerNovember 23, 2023 19:33 JST
SHANGHAI -- Chinese health authorities on Thursday ordered hospitals to step up treatment of respiratory ailments, a day after the World Health Organization asked for more information about clusters of children who were presenting symptoms.
China had reported an increase in cases of influenza-like illness in the northern part of the country, compared with the same period in the last three years, WHO said. Clusters of undiagnosed pneumonia in children were reported on Tuesday, according to WHO.
Word of advice to the Tiongs already in Sinkieland: forget about balik kampung to your 祖国 for CNY 2024. There's a good chance you can go but cannot come back.
Doesn't matter if you are business owner, no-need-to-work old money family, white collar or blue collar worker. Thank your lucky stars that you are out of that godforsaken country. Don't be a dog which returns to its own vomit.
https://www.reuters.com/business/en...ed-slow-around-4-h1-2024-analysts-2023-11-23/
China oil demand slowing down in next 2 quaters
China oil demand slowing down in next 2 quaters
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Best News Website or Mobile Service
Asia
An aerial view shows containers and cargo vessels at the Qingdao port in Shandong province, China on May 9, 2022. (File photo: China Daily via Reuters)
Listen to this article
5 min
This audio is generated by an AI tool.
South China Morning Post
23 Nov 2023 10:34AM
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An exodus of foreign capital from China – a prime concern for policymakers in an era of diminished growth – has entered a “slowed” and “stable” stage as an improved economic outlook has raised hopes some foreign investors may return, government advisers said on Wednesday (Nov 22).
Comments from subject matter specialists indicate growing domestic confidence in the results of a countrywide charm offensive to entice investors back.
Jiang Xiaojuan, former deputy secretary general of the State Council, said while short-term geopolitical and supply chain changes have caused foreign businesses to leave China, the trend will slow.
“It appears to have stabilised,” she said at an annual conference hosted by financial magazine Caijing.
Jiang said while foreign companies that left are not repatriating moved factories and assets, since March some have apparently decided to keep sourcing goods from China, or have returned to previous Chinese suppliers after moving orders out.
She added the volatility of the global economy and the difficulties of operation for companies who moved to Southeast Asia have made companies more aware of the competitiveness of Chinese manufacturers.
(Sources: Stock Connect, Bloomberg)
“If these companies are really resistant to working with China, they would not make such decisions,” said Jiang, who is now president of the China Society of Industrial Economics, an academic organisation under the Chinese Academy of Social Sciences (CASS).
“We must see China has grown to compete with other middle to high-end manufacturing powers in the world, and everything we are experiencing now is a normal state of market competition.”
Jiang’s optimism, however, has yet to be reflected in Chinese economic data. The numbers show both foreign direct investment and exports have continued to slump despite encouraging signs in the third quarter.
Capital outflow pressures have been mounting as a slowing global economy and US-China rivalry fuel investor worries. The country reported its first-ever quarterly deficit in foreign direct investment (FDI) since the data started being recorded in 1998. A focus on national security and revamped anti-espionage legislation have also fuelled doubts about the investment environment, compounding the problem further.
Exports also continue to drop as Western governments call for a “de-risking” of supply chains from a perceived overreliance on China.
Customs figures showed a fall of 6.4 per cent in October from the year before, a greater plunge than the already steep 6.2 per cent decline observed in September.
Beijing has attempted to find a silver lining, highlighting the fact China remains a magnet for global investors with all-time high FDI flows of 1 trillion yuan (US$137.3 billion) in the first nine months of the year.
Zhang Ming, deputy director of CASS’ Institute of Finance and Banking, also spoke at the forum in Beijing and echoed Jiang’s view that the current trend of “short-term foreign investment” outflows could change next year.
“Many multinational companies do not have an alternative market, and those markets also have their own problems,” Zhang said.
“China’s economy is showing signs of rebound and we are trying to improve our investment environment, so there could be improvement in FDI next year.”
Best News Website or Mobile Service
Asia
China’s FDI withdrawal wave could ‘slow’ as outlook improves, analysts say
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AsiaChina’s FDI withdrawal wave could ‘slow’ as outlook improves, analysts say
An aerial view shows containers and cargo vessels at the Qingdao port in Shandong province, China on May 9, 2022. (File photo: China Daily via Reuters)
Listen to this article
5 min
This audio is generated by an AI tool.
- Specialists said China’s FDI outflow problem could be ‘stabilised’ as economic prospects improve
- Drops in foreign investment, exports suggest lack of confidence – with larger consequences if not handled swiftly
South China Morning Post
23 Nov 2023 10:34AM
BookmarkShare
An exodus of foreign capital from China – a prime concern for policymakers in an era of diminished growth – has entered a “slowed” and “stable” stage as an improved economic outlook has raised hopes some foreign investors may return, government advisers said on Wednesday (Nov 22).
Comments from subject matter specialists indicate growing domestic confidence in the results of a countrywide charm offensive to entice investors back.
ADVERTISEMENT
Jiang Xiaojuan, former deputy secretary general of the State Council, said while short-term geopolitical and supply chain changes have caused foreign businesses to leave China, the trend will slow.
“It appears to have stabilised,” she said at an annual conference hosted by financial magazine Caijing.
Jiang said while foreign companies that left are not repatriating moved factories and assets, since March some have apparently decided to keep sourcing goods from China, or have returned to previous Chinese suppliers after moving orders out.
She added the volatility of the global economy and the difficulties of operation for companies who moved to Southeast Asia have made companies more aware of the competitiveness of Chinese manufacturers.
“If these companies are really resistant to working with China, they would not make such decisions,” said Jiang, who is now president of the China Society of Industrial Economics, an academic organisation under the Chinese Academy of Social Sciences (CASS).
ADVERTISEMENT
“We must see China has grown to compete with other middle to high-end manufacturing powers in the world, and everything we are experiencing now is a normal state of market competition.”
Jiang’s optimism, however, has yet to be reflected in Chinese economic data. The numbers show both foreign direct investment and exports have continued to slump despite encouraging signs in the third quarter.
Capital outflow pressures have been mounting as a slowing global economy and US-China rivalry fuel investor worries. The country reported its first-ever quarterly deficit in foreign direct investment (FDI) since the data started being recorded in 1998. A focus on national security and revamped anti-espionage legislation have also fuelled doubts about the investment environment, compounding the problem further.
Exports also continue to drop as Western governments call for a “de-risking” of supply chains from a perceived overreliance on China.
Customs figures showed a fall of 6.4 per cent in October from the year before, a greater plunge than the already steep 6.2 per cent decline observed in September.
ADVERTISEMENT
Beijing has attempted to find a silver lining, highlighting the fact China remains a magnet for global investors with all-time high FDI flows of 1 trillion yuan (US$137.3 billion) in the first nine months of the year.
Zhang Ming, deputy director of CASS’ Institute of Finance and Banking, also spoke at the forum in Beijing and echoed Jiang’s view that the current trend of “short-term foreign investment” outflows could change next year.
“Many multinational companies do not have an alternative market, and those markets also have their own problems,” Zhang said.
“China’s economy is showing signs of rebound and we are trying to improve our investment environment, so there could be improvement in FDI next year.”
China’s lawmakers issue rare warning over banks’ asset quality due to inflated, inaccurate data
- Standing Committee of the National People’s Congress warned some data does not ‘truly reflect the actual situation’ during a meeting last month
- Preventing and resolving financial risks has been elevated as the ‘eternal theme’ of China’s financial work, with the system plagued by property and debt issues
China’s lawmakers issued a rare warning about the asset quality at small and medium-sized financial institutions, as their figures do not “truly reflect the actual situation” and such actions could derail Beijing’s de-risking campaign.
During a meeting of the Standing Committee of the National People’s Congress (NPC) in October, deputies called for more interventions to speed up the disposal of bad loans at small and regional financial institutions.
https://www.google.com/amp/s/amp.sc...lash-out-billions-save-struggling-small-banks
China’s indebted local governments splash out billions to save struggling small banks
- Poor liquidity at China’s regional banks could trigger instability in the state-owned financial system, reduce the credit supply for the real economy, and potentially spill over to a wide range of industries
- Last year, the People’s Bank of China identified 366 ‘high-risk’ financial institutions across the country
Obviously this is fake news. China have been selling US bonds as its not a safe investnent anymore. At a loss.
And new laws will be enforced whereby patent from china companies will not be recognised,
And new laws will be enforced whereby patent from china companies will not be recognised,
https://www.google.com/amp/s/amp.cn...china-bank-run-evergrande-intl-hnk/index.html
China Gov wasted no time to mop up grade AAA debt collateral at God Speed
Chinese government moved to increase its stakes in the country’s four biggest banks, fueling expectations that it could ramp up efforts to boost confidence in the financial system.
Central Huijin Investment, an arm of China’s sovereign wealth fund, bought tens of millions of shares in Bank of China, Agricultural Bank of China, China Construction Bank and Industrial and Commercial Bank of China, according to separate stock exchange filings made by the banks.
The investment firm plans to further increase its stakes over the next six months, the filings said.
Shares in the four banks surged on Thursday, leading a broader rally in the sector. The best performer has been China Construction Bank, which was up 5.6% in Hong Kong and 2.7% in Shanghai.
China Gov wasted no time to mop up grade AAA debt collateral at God Speed
Chinese government moved to increase its stakes in the country’s four biggest banks, fueling expectations that it could ramp up efforts to boost confidence in the financial system.
Central Huijin Investment, an arm of China’s sovereign wealth fund, bought tens of millions of shares in Bank of China, Agricultural Bank of China, China Construction Bank and Industrial and Commercial Bank of China, according to separate stock exchange filings made by the banks.
The investment firm plans to further increase its stakes over the next six months, the filings said.
Shares in the four banks surged on Thursday, leading a broader rally in the sector. The best performer has been China Construction Bank, which was up 5.6% in Hong Kong and 2.7% in Shanghai.
Issue USD bond to get oversea Hao liao mah
Got saw hei give u good free stuff, where got people leeject wan?
I thought war between Hamas and Israel will cause the oil price to spike to historic level.
Fucking hell... I was wrong
The Hamas couldn't hang in there with the Israelis. The Arabs are not supporting the Hamas.
Fuck that camel ass hole raiders.
All ish 说好的, non-cooperative ones and disobedience ones kenna removed from round table liao
Many many sinki and jiuhu dun not understand the idea of "Floating internationally".
