The Chinese real estate giant Evergrandewhich is grappling with serious financial difficulties, claimed on Thursday that its boss, Xu Jiayin, is suspected of activities “illegal”, after suspending the trading of its shares on the Hong Kong Stock Exchange. This announcement took place a day after Bloomberg published that the leader was under “residential surveillance”. Trading […]
Tag: China
Exclusion of women costs Afghanistan US$1 billion a year, according to UN
The exclusion of women from most of the working market in Afghanistan and public space in general is costing the country US$ 1,000 million, a sum that will only increase, warned today the executive director of UN Women, Sima Bahous. Bahous was speaking at a session of the Security Council dedicated to the situation of […]
The economy: unbreakable bond that unites China and Peru
Our country was not the same since the arrival of the first Chinese immigrants in 1849. The entry of these citizens gave rise to a social, cultural and even economic explosion that has implications to this day. And on this last point, from the creation of the first grocery stores with Asian owners, and the […]
Evergrande admits that it cannot issue new debt; stocks sink
The actions of China Evergrande They plummeted as much as 24% on Monday after the embattled developer said it could not issue new debt due to an ongoing investigation into one of its subsidiaries, dealing a fresh blow to its restructuring plans. “In view of the fact that Hengda Real Estate Group Co Ltdone of […]
China ready to expand import of EU products
China and the European Union (EU) agreed this Monday to “strengthen” their macroeconomic policies and “respond to the challenges” during the tenth high-level economic and trade dialogue held this Monday in Beijing. Chinese Vice Premier He Lifeng announced in a meeting with the press that both sides had “frank discussions” and that both sides are […]
China: Not even the 1.4 billion inhabitants can fill all their empty homes
Not even the 1.4 billion inhabitants of China would be enough to fill all the apartments gaps that exist throughout the country, a former official said on Saturday, in an unusual public criticism of the real-estate market of the country, affected by a crisis. The Chinese real estate sector, once a pillar of the economy, […]
They innovate with silkworms as an alternative to synthetic fibers
A team of chinese scientists has achieved for the first time that some worms genetically modified silk fibers make spider silk thread, which is also six times more resistant than Kevlar, the synthetic fiber used to make bulletproof vests. The study, published this Wednesday in the journal Matter, is the first to demonstrate a technique […]
Country Garden says it will meet its debt payment obligations
The embattled Chinese promoter Country Garden said Wednesday that it had obtained approval from its creditors to extend the repayment of seven bonds starting September 12. The extension may ease the company’s liquidity pressure, Country Garden said in a statement to the Shenzhen stock exchange, adding that it will actively meet its debt repayment obligations. […]
Real estate crisis in China could weigh down its economy in 2024, ADB warns
The Asian Development Bank (ADB) stated this Wednesday that the current real estate crisis in China may hamper its economic growth in 2024, although the impact can be alleviated or avoided with the right policies. In a report on economic forecasts, the ADB noted however that in the scenario that the crisis continues the impact […]
OECD: persistent inflation and China, the great global economic risks
The persistence of high inflation, which is what has forced central banks to raise their rates, constitutes the main risk for the global economy indicated this Tuesday by the OECD, which also focuses on Chinawhich is going through a slowdown phase. “There are significant risks“said the chief economist of the Organization for Economic Cooperation and […]