Tag results for: economy
CSRC Party Chief/Chairman Replaced After Shanghai Stock Exchange Reaches Five-Year Low
Yi’s Removal and Wu’s Appointment
On February 7th, the Chinese Communist Party’s (CCP) Central Committee appointed Wu Qing as both Chairman and CCP Committee Secretary of the China Securities Regulatory Commission (CSRC). Wu replaced now former Yi Huiman who served in both positions since 2019.
Wu’s Background
Wu served in various party and government positions in the Shanghai region, including as the...
Recent Ministry of State Security Posts Illustrate China’s Worry About the Economy
What You Need to Know
On January 29th, China’s Ministry of State Security (MSS) made a post on their public WeChat account titled “Take My Advice, Don’t Let the National Security Agencies Treat You to These ‘Ten Cups of Tea’.” The term “please drink tea” is Chinese Internet slang for “being interviewed or under investigation for suspected illegal crimes.”
The ten...
Several Issues will Complicate Evergrande’s Liquidation Process
Evergrande Liquidated
On January 29th, China Evergrande accepted the Hong Kong High Court’s decision to begin the liquidation process after not developing a definitive restructuring plan. The company is considered the world’s most indebted real estate developer, with $300 billion USD in liabilities.
Stocks for Evergrande and Evergrande New Energy Vehicle Group decreased by approximately 20 percent in the hours before...
China’s Debt-to-GDP Ratio Increased to New Record in 2023
China's debt-to-GDP ratio increased to a record high of 287.8 percent in 2023, according to a quarterly report published by a state-backed think tank, the National Institution for Finance and Development (NIFD). The 2023 number represents a 13.5 percent increase from the 2022 debt-to-ratio number of 274.3 percent.
Specifically, the debt ratio by households rose 1.3 percentage points to 63.4...
China’s Regulatory Commission Announce Suspension of Restricted Stocks Lending
On January 28th, the China Securities Regulatory Commission (CSRC) announced two new regulatory actions to stabilize the Chinese stock market. The commission will suspend all lending of restricted stocks beginning on January 29th.
The CSRC also announced the readjustment of market-based applications for security refinancing from real-time to next-day availability will take effect on March 18th. The readjustment is aimed...
LATEST
Coup Attempt in The DRC, Three US Nationals Arrested
Two United States nationals and up to 20 Congolese have been arrested following an attempted coup in the Democratic Republic of the Congo (DRC) early Sunday morning.
What You Need to Know:
At around 4:30 a.m....
SITREP: Iranian President’s Helicopter Missing After Crash
Iranian state media have reported that a helicopter carrying Iranian President Ebrahim Raisi and Foreign Minister Hossein Amirabdollahian is currently missing after seemingly crashing in the mountains of Iran's East Azerbaijan province.
The status of...
Google’s YouTube Restricted Videos of Glory to Hong Kong After Court Ruling
On May 15th, YouTube blocked 32 videos of the song Glory to Hong Kong after Hong Kong’s (HK) High Court overturned a previous verdict. The High Court rejected the government’s initial bid in a...