The harder the Chinese Communist Party clamps down on news, views and data that don’t fit its preferred narrative, the greater the investment risk and the harder it will be for China to tap global capital markets.
The cars were likely deserted after the ride-hailing companies that owned them failed, or because they were about to become obsolete as automakers rolled out EV after EV with better features and longer driving ranges. They’re a striking representation of the excess and waste that can happen when capital floods into a burgeoning industry, and perhaps also an odd monument to the seismic progress in electric transportation over the last few years. 这些汽车很可能在拥有它们的乘用车公司倒闭后被遗弃,或者因为随着汽车制造商推出性能更好、行驶距离更长的电动汽车,它们即将过时。 当资本涌入蓬勃发展的产业时,它们可能产生的过剩和浪费,也许也是过去几年电力运输领域的地震性进展的一个奇怪的纪念碑。
Chinese investors protested outside the office of one of the country’s biggest shadow banks, in a rare show of public outrage after the firm skipped payments on dozens of investment products. 中国投资者在中国最大影子银行之一的办公室外抗议,在该公司拒绝支付数十种投资产品后,这是罕见的公众愤怒表现。Zhongrong is among the biggest firms in the country’s $2.9 trillion trust industry, which pools savings from wealthy households and corporate clients to make loans and invest in real estate, stocks, bonds and commodities. The firm has 270 high-yield products totaling 39.5 billion yuan ($5.4 billion) due this year, according to data provider Use Trust. 中融是中国规模达 2.9 万亿美元的信托行业中最大的公司之一,该行业汇集富裕家庭和企业客户的储蓄,发放贷款并投资于房地产、股票、债券和大宗商品。 根据数据提供商 Use Trust 的数据,该公司今年将有 270 种高收益产品到期,总价值达 395 亿元人民币(54 亿美元)。
China’s government is trying to reassure jittery homebuyers after a major real estate developer missed a payment on its multibillion-dollar debt, reviving fears about the industry’s shaky finances and their impact on the struggling Chinese economy. 在一家大型房地产开发商未能偿还数十亿美元债务后,中国政府正试图安抚紧张的购房者,这重新唤起了人们对该行业动荡的财务状况及其对陷入困境的中国经济的影响的担忧。
— Read on apnews.com/article/china-debt-real-estate-country-garden-8452f8fc81697903bbd2cbd37f0e76be
they highlight the industry’s struggle under pressure from the ruling Communist Party to reduce soaring debt that is seen as an economic threat. That has bankrupted hundreds of small developers and depressed China’s economic growth.
That bubble finally seems to be bursting. Economic damage from China’s zero-COVID policy, as well as heavy-handed government meddling in the tech sector and other major industries, have driven down growth.
China’s economy is also facing deflation risk, which can make debt worse.
“Deflation means the real value of debt goes up,” David Dollar, a senior fellow at the Brookings Institution, told Insider. While high inflation can actually help relieve the burden of debt over time, he said, “deflation does the opposite.”
The failure to revive confidence more broadly risks leading to economic pain that could blow back on Communist Party leaders. Last year saw a wave of mortgage boycotts and unprecedented protests against Xi himself as residents got fed up with the world’s strictest Covid-19 restrictions.
Chinese authorities remain sensitive about the narrative over the economy, instructing analysts to avoid discussing deflation and restricting access to key data. China on Tuesday suspended publishing data on its soaring youth unemployment rate to iron out complexities in the numbers, fanning fears about transparency.
Country Garden was China’s biggest real estate developer. Now it is staring down default, facing billions of dollars in losses and $200 billion in unpaid bills. 中国房地产巨头碧桂园已损失数十亿美元,未付账单已达2000亿美元。 据估计,该公司有能力在中国数百个城市交付近一百万套公寓。
All of this has led to worries that Country Garden will end up like China Evergrande, a real estate behemoth that collapsed in 2021 and set off panic in global markets.
“The Country Garden default could be as influential as Evergrande simply because it is so huge,” said Rosealea Yao, a real estate analyst at Gavekal, a China focused research firm.
And it could be even worse. A handful of big developers have already defaulted. The market is more on edge than it was when Evergrande failed. Policymakers, while recently vowing to support the housing market, have not done enough to bolster confidence.
“Things may get worse before the government reacts,” Ms. Yao said.
所有这些都让人担心碧桂园最终会像中国恒大一样,在2021年倒闭并引发全球市场恐慌的房地产巨头。
“碧桂园违约的影响力可能与恒大一样大,因为它规模太大了,”专注于中国的研究公司 Gavekal 的房地产分析师 Rosealea Yao 表示。
China has manipulated everything since over 50years. virus covid-19, population count, economic measuresd, history, Inland’s disaster & it’s casualties, sex scandals from ccp insider’s and everythings to brainwashing their peoples. Especially have to watch the behavior of China’s 80s, 90’s, 00’s who has been systemcally brainwashing educated generations. 50多年来,中国一直在操纵一切。 病毒covid-19、人口统计、经济措施、历史、内陆灾难及其伤亡、中共内部人士的性丑闻以及对人民洗脑的一切。 尤其要看看中国80后、90后、00后对受过教育的一代进行系统性洗脑的行为
The mudslide and a flash flood Friday evening also damaged a highway and knocked out power to 900 households, the Xi’an Emergency Management Bureau said on its social media account. It said rescue teams totaling 980 people with dogs were looking for the remaining missing people. 西安市应急管理局在其社交媒体账户上表示,周五晚上的泥石流和山洪还损坏了一条高速公路,并导致 900 户家庭停电。 据称,共有 980 人的救援队带着狗正在寻找剩余的失踪人员。
An internal federal intelligence report indicates that U.S. authorities are concerned with a new Chinese migrant route that migrants are using to illegally cross into the United States through Florida. 一份联邦内部情报报告显示,美国 当局对一条新的中国移民路线感到担忧,移民利用该路线通过佛罗里达州非法进入美国。
According to flood control laws, when basin-wide flooding causes reservoirs, the first line of defense, to exceed their limits, water may be temporarily channeled to so-called “flood storage areas” – including low-lying populated land.
On July 31, Hebei province opened seven of its 13 designated flood storage areas, including two in the city of Zhuozhou in Baoding south of Beijing and north of Xiongan, a zone President Xi Jinping aims to develop into an economic powerhouse serving Hebei, Beijing and Tianjin.
Swathes of northern China are submerged in filthy floodwater after days of historic rainfall battered the capital city of Beijing and surrounding areas. Torrents of brown water swept tons of rubbish through a park in suburban Beijing, while normally bustling main streets in Hebei province to the southwest of the capital turned to rivers. 连日来,首都北京及周边地区遭受历史性降雨袭击,中国北方大片地区被洪水淹没。 汹涌的棕色水流席卷了北京郊区一个公园里的大量垃圾,而首都西南部河北省通常熙熙攘攘的主要街道则变成了河流。
Dashcam footage obtained by Reuters shows a car plunging off a Shangzhi bridge, which had collapsed due to the rains and floods brought on by the remnants of Typhoon Doksuri in China’s Heilongjiang province. 路透社获得的行车记录仪镜头显示,一辆汽车从尚志大桥上坠落,该大桥因中国黑龙江省台风“多克苏里”余波带来的降雨和洪水而倒塌。
Joining China’s vast Belt and Road Initiative (BRI) was an “atrocious” decision, Italy’s defence minister has said, and the issue was how to leave it without damaging ties with Beijing. 意大利国防部长表示,加入中国庞大的“一带一路”倡议是一个“残暴”的决定,问题是如何在不损害与北京关系的情况下退出该倡议。
An unusually public claim by a Chinese professor the country’s youth jobless rate might have hit close to 50% in March has stoked a debate about official data and a soft labour market, despite curbs on negative portrayals of the economy. 一位中国教授不同寻常地公开声称,该国的青年失业率在3月份可能已达到近50%,这引发了一场关于官方数据和疲软劳动力市场的辩论,尽管对经济的负面描绘有所限制。