Economic developing countries news coverage

China’s Country Garden seeks to delay onshore bond repayment, fanning market fears

Country Garden, China’s largest private developer, is seeking to delay payment on a private onshore bond for the first time, a source said, after suspending trading in 11 onshore bonds, sending its shares plunging to a record low on Monday. Reuters report. Anxiety spread through markets following the worrying news from Country Garden (2007.HK), putting Beijing […]
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Why China could become the luxury industry’s next sore spot

Major luxury brands have invested millions to reach new customers in the two markets, venturing beyond traditional high-end shopping centres to open new stores in places like Wuhan and Zhengzhou, or Charlotte and Nashville. A post-pandemic U.S. splurge had already shown signs of flagging, leaving investors to pin their hopes on Chinese shoppers to sustain […]
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Yellen ‘eager’ to work with China on debt, other global challenges

U.S. Treasury Secretary Janet Yellen said on Sunday she was “eager” to work with China on areas of mutual interest, including debt restructurings for poorer countries, and that multilateral development banks needed reforms before capital increases could be considered. Says Reuters news At a press conference before a meeting of Group of 20 finance ministers […]
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Chinese regulators try to assure sceptical foreign financiers

China is open for investment, the country’s top financial regulators told foreign financiers at a high-profile forum in Shanghai on Thursday, as concerns mount among foreign firms that they may no longer be welcome. Reuters reports The world’s second-largest economy, keen for foreign investment to support its reopening after three years of COVID-19 restrictions, has played […]
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At China political meeting, internet bosses are out, chip execs are in

According to Reuters reports Tencent Holdings (0700.HK) founder Pony Ma and others from China’s crackdown-hit internet sector will be absent from this year’s parliamentary sessions, as Beijing boosts representation from the tech hardware sector, delegate lists show. Nearly 3,000 members of the National People’s Congress (NPC) will gather in Beijing on Sunday for its first meeting […]
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