BEIJING, Dec 10 — Debt-crippled Chinese property giant Evergrande looks headed for a huge restructuring after it defaulted on US$1.2 billion in bond repayments and remains mired in further liabilities worth more than US$300 billion.The government is keen to limit any contagion hitting the financial system, but is also deeply concerned about the impact on social stability if masses of angry investors take to the streets.
A state bailout would “run counter” to Beijing’s efforts to deflate a worrying property bubble so as to reduce the economy’s reliance on the real estate sector, added Larry Ong ofCentral bank governor Yi Gang said Thursday that Evergrande’s failures to meet its debt obligations would be dealt with by the “market”, a further clear sign that a bailout was not on the cards.
Kuijs said that to cushion the blow, the government might make it easier for developers to raise financing on capital markets, following earlier easing steps.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China’s November consumer inflation rises on pork, vegetable prices | Malay MailBEIJING, Dec 9 — Consumer inflation in China picked up to its highest level in over a year in November, official data showed Thursday, bolstered by an uptick in pork prices as seasonal demand spiked. The consumer price index (CPI), a key gauge of retail inflation, came in at 2.3 per cent on-year...
Source: malaymail - 🏆 1. / 86 Read more »
China says four Olympic diplomatic boycott nations will ‘pay the price’ | Malay MailBEIJING, Dec 9 — China warned Western nations today they would “pay the price” for a diplomatic boycott of the 2022 Beijing Winter Olympics. Washington announced its boycott earlier in the week, saying it was prompted by widespread rights abuses by China and what it sees as a “genocide”... Unending drama of 'paying the price'.....China lacks diplomatic narratives on how to respond to such issues. China 🇨🇳 not yet paid for Covid 19 which makes the whole world 🌎 to suffer until now… You pay 💰 first and then will ask others to consider 😁😁😁…
Source: malaymail - 🏆 1. / 86 Read more »
No World Tennis Tour events in China in 2022, says ITF source | Malay MailBEIJING, Dec 10 — There will be no World Tennis Tour events held in China in 2022, an International Tennis Federation (ITF) source confirmed to Reuters on Thursday. The source did not say if the move was linked to concerns over the health and safety of doubles star Peng Shuai. In the last full...
Source: malaymail - 🏆 1. / 86 Read more »
AFF Cup: Cheng Hoe not taking Laos lightly, working on a winning formula | Malay MailKUALA LUMPUR, Dec 8 — On paper, the match against world number 185 Laos should be a walk in the park for Harimau Malaya but head coach Tan Cheng Hoe is not taking the minnows lightly in their AFF Cup Group B clash at Bishan Stadium in Singapore tomorrow. Cheng Hoe is definitely aware of the...
Source: malaymail - 🏆 1. / 86 Read more »
Myanmar soldiers accused of killing 11 after charred remains found | Malay MailYANGON, Dec 8 — Myanmar soldiers have been accused of rounding up 11 people in a village in a central area of the strife-torn country before shooting them and setting fire to their bodies, according to residents in the area and media reports. The charred remains were found in a village in...
Source: malaymail - 🏆 1. / 86 Read more »
Helicopter crashes with India military chief on board | Malay MailNEW DELHI, Dec 8 — A helicopter carrying India’s defence chief General Bipin Rawat crashed in the southern state of Tamil Nadu today, the air force said. The 63-year-old chief of defence staff was travelling in a Russian-made Mi-17V5 chopper that “met with an accident today near Coonoor,...
Source: malaymail - 🏆 1. / 86 Read more »